Crypto Gambling in Las Vegas as Resorts World gears up for a $ 4.3 billion opening
Players will be able to use cryptocurrency as a form of payment when betting at a Las Vegas casino for the first time this summer as the $ 4.3 billion Resorts World complex prepares to open.
Resorts World Las Vegas will be the first scratch project to hit the Strip in a decade when it officially opens casino halls and 3,500 hotel rooms to guests on June 24.
The mega resort is one of the most expensive investments in Las Vegas history and promises to modernize the city's betting industry as gamers increasingly turn to online gambling.
And one of the biggest evolutions taking place in the new hotel and entertainment center is the introduction of cryptocurrency gambling, which is the result of a partnership with Gemini cryptocurrency that will allow players to take advantage of the technology of their cryptocurrency wallet.
"As the first resort to develop on the Strip in more than a decade, Resorts World Las Vegas is committed to integrating innovative technology amenities throughout the resort to improve overall guest travel," said Scott Sibella, president of Resorts World Las Vegas.
“By working with Gemini, a leader in the field of cryptocurrency exchange, we are taking another step towards delivering progressive values. Experience solutions for the modern Las Vegas traveler. "
Using Cryptocurrency in Vegas
Owning a cryptocurrency casino in Las Vegas is an unknown step for Strip, which did not experience a major revolution in its major casinos prior to its 2007 financial crash. However, we hope that cryptocurrencies and the post-Covid recovery boom can bring tourists back to the city. Blockchain currencies like Bitcoin are used by many online casinos as a form of payment for both deposits and withdrawals - and now Vegas is catching up.
"Whether their customers are able to use cryptocurrency at Resorts World Las Vegas or convert dollars into cryptocurrencies, being among the first to support cryptocurrencies is a great way to meet the needs of the next generation of customers and provide 21st century of experience" - said Tyler Winklevoss, Gemini CEO.
Players often prefer cryptocurrencies when gambling online as they provide secure transaction methods while some players choose not to wager dollars on checking accounts.
Recent years have seen a boom in the use of cryptocurrencies and even professional sports players are now being paid in electronic currency while Bitcoin sports betting is gaining popularity.
Will there be more casinos?
Usually, when one casino implements some form of new technology, others are going to imitate the suit. And it is likely that the same will happen with cryptocurrencies where rival casinos will be keeping a close eye on Resorts World in the coming months.
The exact process by which Resorts World Las Vegas will become a crypto casino has yet to be made public. However, earlier in 2021, the slot machine maker Game Technology Plc patented a technology that would allow players to transfer crypto funds - such as Bitcoin - to a gambling account from which they can then bet.