Have you seen any casinos that let you "cash out" to Bitcoin?
How could casinos set this up?
Casinos adopting Bitcoin would be very bullish. We should push for this if it's not already the case. There's profit to be made.
Imagine walking into a casino, you go to an automated chip dispenser, scan to pay with Bitcoin lightning, and walk away with a handful of chips. Then you gamble for an hour, walk back to the same machine from earlier, insert all your chips, show a QR code and get paid in Bitcoin lightning and go home. There will even be an option to get a portion in physical local fiat money.
The casino could even use a BTC anonymizer, and make a deal with a big Bitcoin exchange to guarantee selling their BTC no matter whether it's mixed or not. This would enable the casino to be used for some beneficial "unintended" consequences. It would be a way for customers to spend sats that might otherwise be difficult to spend.
Has anybody developed gambling machines where you can deposit money via Bitcoin LN?
And the casinos could always hold BTC as their reserve currency.
307 sats \ 1 reply \ @kr 18 Jan 2023
interesting idea. are casinos earning a spread on dollar exchanges today?
ex. if i turn $100 into chips and immediately back into dollars, will i get $100 back?
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With lightning, they could offer the BTC LN exchange as a free service as a loss leader (where you eat a small cost to get more customer traffic).
The casinos would gain the functionality of Bitcoin exchanges.
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In Vegas casino chips were as good as dollars and people were free to leave the casino with them and pay for goods and services or just keep them under the matress. But this was stopped by regulators. So I image there is a law only allowing casinos to let customers leave with dollars
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Interesting. I'll look into it.
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