Bitcoin has not only been on everyone's lips since its steep rise in the last few days. The casino and entertainment industry has also recognized the trend and is preparing for the booming cryptocurrency.
At online casinos like Betamo and Woocasino you already can pay with Crypto like Bitcoin but what about landbased casinos in Canada and Las Vegas?
Well it is now possible for residents and tourists in many shops and hotels to pay with Bitcoins. But the casino industry is also following the development with great interest, according to financial experts.
With only two casinos in Las Vegas that accept Bitcoin slowly it becomes possible to use as payment method.
The Bitcoin casino pioneers are the two gaming and entertainment companies: The Golden Gate Hotel and D Casino.
The growing popularity of this offer can be seen literally on every street corner in Las Vegas. There are now 149 machines distributed across the Gambling City for exchanging various crypto currencies for cash.
In order to be able to pay with the crypto currency, the Golden Gate recommends its guests to use special Bitcoin ATMs in addition to the virtual payment process. They could easily exchange the digital money for real dollars there.
The gambling industry is currently working on solutions for integrating cryptocurrencies. At the beginning of January, the company International Game Technology, the world's largest manufacturer of slot machines, announced that it was developing techniques to integrate cryptocurrencies as a virtual payment option in gaming devices.
However, the casino area was previously excluded from crypto payments. Instead, guests can settle their bills with Bitcoins in the hotel, in the restaurants, cafes and bars as well as at the reception.
Bitcoin is becoming a serious payment option but there stillis one big problem with it. The curencies are higly volatile and as we saw in the past, they can drop over night or come back double as high the next day. For lanbased casinos this is one of tyhe major setbacks. If the rate fluctuates that much on individual days, this makes it more difficult for the casinos to control their income.
So before all casinos accepts bitcoin payment it will take a long time we think. In the mean time online casinos picking up a lot of bitcoin payments. Loking for a great Bitcoin casino? Check out the Woo Casino review here