Should Bitcoin Be Used For Gambling?
Casinos make people exchange money into something else anyways. Why not use bitcoin instead?
When you go inside of a casino, your cash used to gamble is turned into a localized betting currency of sorts…
Blackjack dealers give players chips.
Slot machines spit out paper slips.
Online poker sites require deposit into credits.
In a way, casinos were one of the first to realize that converting government-backed money into something else was good for business.
So, why don’t casinos use bitcoin? Would you use bitcoin to gamble?
We asked the ZapChain community of experts if they would use bitcoin for online gambling, and this is what they said…
Bitcoin’s blockchain could make gambling odds more transparent
“I love the idea that they can use the blockchain to be provably fair and if I was to gamble this is how I would want to do it.”
Sports betting is a killer application for bitcoin gambling
“Instant bitcoin payouts are one of those 10x improvements from traditional rails. For those familiar with betting on sports online, payouts with traditional rails is a huge painpoint. I believe that there will be some huge bitcoin enabled sports gambling site that emerges in the next 5 years.”
Bitcoin is a gamble anyways, why play casino games with it?
“I’m gambling every minute of every day just by holding BTC.”
It doesn’t matter, you cannot win gambling, with or without bitcoin
“I admit, I was curious about those dice sites, so I tried out primedice.com. Naturally, I lost $5 in BTC.”