Bitcoin ATM Makes its Debut at Las Vegas Casino
Since businesses in Las Vegas are increasingly accepting Bitcoin, from coffee shops to a candy store and even an escort agency, it's natural that the city should have its own ATM. This ATM is located at The D Las Vegas Casino Hotel, making it the first casino in Vegas to accept Bitcoin for hotel rooms, restaurant meals, and gift shop purchases.
Despite this, the casino doesn't accept Bitcoin for gambling – at least not yet. However, several online gambling sites do, despite not being licensed by US state markets.
The D has teamed up with Robocoin, which launched the world's first Bitcoin ATM last year in Canada. Robocoin's headquarters are near The D in downtown Las Vegas, which is becoming a hub for tech start-ups.
If you're wondering, "What on earth is Bitcoin?", you've either been living under a rock or are unfamiliar with this global cryptocurrency (worth over $1.4 billion). Bitcoin operates outside the central banking system, engaging in encrypted peer-to-peer networks to buy and sell goods beyond the supervision of financial regulators. It can be acquired through exchange services like Bitinstant, stored in an e-wallet.
Though Bitcoin is starting to gain acceptance in mainstream business, it had a shady origin. Some online gambling operators have used it to facilitate gambling in areas where financial institutions can't process gambling transactions. In 2012, SatoshiDice and bitZino, two Bitcoin casinos, reported profits of $596,213 and $495,000, respectively.
What is Bitcoin?
Bitcoin is a digital cryptocurrency valued at over $1.4 billion, existing outside the central banking system and traded through encrypted peer-to-peer networks. It allows transactions without financial regulatory oversight. You can acquire Bitcoins via your computer or smartphone at exchange services.
Though gaining mainstream acceptance, Bitcoin's origins were a bit shady. Some online gambling operators saw it as a way to facilitate online gambling in regions where financial institutions can't process gambling transactions. According to 2012 reports, SatoshiDice and bitZino, two Bitcoin casinos, generated $596,213 and $495,000 in profits between May and December that year.
Live Bitcoin Gaming in Las Vegas?
Bitcoin was created as a rebel, libertarian alternative to traditional currency by an anonymous figure known as Satoshi Nakamoto. In March 2023, Newsweek claimed to have found him, but it was the wrong person. The true identity of Satoshi Nakamoto, whether one person or a group, remains unknown. On the topic of using Bitcoin for live gaming in Las Vegas, Robocoin's co-founder Sam Glaser commented, "The Nevada Gaming Control Board would have to approve [Bitcoins for gambling], which seems unlikely in the near future." However, D Casino Hotel's Derek Stevens said, "I don't think the [State] Gaming Control Board or [the Nevada] Gaming Commission is ready for Bitcoin yet. But I do know they're considering what their plans for the future will be."Points to consider:
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