Crypto resources becoming more prominent in Vegas

vegas betting crypto

What:  The latest gambling news in Las VegasWhere: The city of Las Vegas in the state of Nevada

One of the most well-known gaming hotspots in the world, Las Vegas has been a trailblazer for all kinds of legalized wagering. In a recent article from The Nevada Independent, many experts are now turning their attention to seeing how Nevada’s casino industry handles the influx of crypto-mania. Some casino owners have already started using crypto, while others are still catching up. 

Below, SBS breaks down the latest news in the state related to gaming and how it is shaping the future of Sin City. 

Crypto has been growing steadily in Las Vegas

After a strong influx of crypto advertising at the Super Bowl (almost a dozen different crypto companies purchased ad space at the event per the L.A. Times), there has been a spike in interest for these currencies. In Las Vegas, this is no different as multiple casinos are already rolling out ways to utilize crypto at their resorts. According to the Independent, digital exchange Crypto.com has used the reader board of the Caesars Forum Shops marquee on the Strip to promote the company as a platform for trading various cryptocurrencies. 

However, crypto does not seem to have a mass hold on Vegas quite yet. According to the same article from the Independent, only a handful of Las Vegas gaming operators are pushing cryptocurrency for non-gaming purposes. One casino operator said that he does not do much promotion for the machines other than messaging on electronic billboards along Fremont Street. There also seems to be some mixed sentiments about the current state of crypto utilization with some resorts opting to have a passive crypto marketing strategy. For instance, Resorts World has added a cryptocurrency exchange near their dining area but does not promote it heavily. This is juxtaposed with an MGM Resorts spokesman saying he has heard there is more of vocal sentiment amongst guests having a strong desire to use cryptocurrency. 

There is a void of concrete crypto regulation

Also in the same article from the Independent, there would appear to be some gray areas present for customers wanting to use cryptocurrency. Right now, the most commonly-used way for guests to use cryptocurrency is through a kiosk that converts the digital currency to U.S. dollars, which is then loaded on a digital wallet or exchanged for casino chips. However, the Nevada Gaming Control Board does not have regulations governing the use of cryptocurrency on casino floors, which means no Bitcoin is allowed at the blackjack tables quite yet. 

A spokesman from the Gaming Control Board said that crypto is “lightly regulated” at this time and some of the cryptocurrency exchanges do not adhere to these various requirements. So according to this same source, it creates an environment where you cannot rule out if the source of the funds are coming from an illicit activity. While there are certainly other elements that remain up in the air when it comes to cryptocurrency and gaming in the Silver State, many are focused on capitalizing on this exciting new market. A source from the Association of Gaming Equipment Manufacturers said that the gaming industry does need to “capitalize on technology advancements.” 

For More Gaming Information and Betting Sites Options

Anytime you are placing wagers, whether it is with a cryptocurrency or a normal form of currency, it is a fantastic idea to know what is available to you in Las Vegas. That’s why SBS has you covered with our handy sportsbook breakdown of the best online sportsbooks in the city. Moreover, an amazing resources to have on hand are the most utilized payment methods and ones available to you. This guide will give you the lowdown on what kinds of payment you can utilize right away for your wagers. 

For anyone that has placed bets for a long time knows, finding resources to bolster the best bang for your buck is a must. That’s why SBS has a one-stop guide for the best bonuses available to you at any time. This guide will help you acquire essentially free money if certain requirements are met and give you that extra betting power for some of your wagers. 

About the Author

Vince Kennedy

Vince Kennedy

A soccer fan first and foremost, but someone who has taken his love of the sport and monetized it by writing for some of the most reputable sports sites.

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