Three years ago, a group of betters made the first-ever legal sports bet in Mississippi at the Beau Rivage Resort and Casino. As experts predicted, this move brought in many younger betters and gamblers to the casinos along the coast.
Similarly, D’Iberville’s Scarlet Pearl casino has seen an influx of much younger customers, as well as regional business. Hence, the CEO believes that Scarlet Pearl will be the first casino in the Southern region of Mississippi to have a crypto ATM machine. She mentioned this to members of the Gulf Coast Business Council during the meeting in October, which was held at Gulfport.
Currently, Las Vegas already has various crypto ATMs as many gamblers are suing crypto for betting purposes. These allow customers to convert their crypto tokens into cash that they can use at the casino. Since few casinos accept cryptocurrencies from bettors when making bets, crypto ATMs are a lucrative solution.
According to the executive director of the Mississippi Gaming Commission, the state doesn’t have many crypto regulations. For instance, they don’t regulate if crypto ATMs can be operated at casinos. However, there are regulations that prevent customers from using a credit card or cryptocurrency in a slot machine directly.
He explained that the Gaming Commission would consider going cashless in the state if casino operators make the request. Fortunately, COVID has pushed the decision to the forefront. This summer, Resorts World Las Vegas opened with a cashless casino. It also allowed crypto holders to make cashless payments for shops, entertainment, and restaurants.
Experts are saying that many other casino operators are trying to upgrade their technology. This will help them align their business model with how young customers engage the casino industry. Eventually, such developments can bring a boost to the crypto industry. The timing of this is great as well, considering that many banks are now trying to embrace crypto-based transactions and models.
Considering how younger consumers, especially millennials, use cash apps and online wallets to pay for items, this will be a step in the right direction. These days, many people among the younger generations are crypto holders and investors. Whether they keep the tokens for investment purposes or want to have enough crypto for when it becomes legal tender, they’re adopting it as a valid asset.
More importantly, the mainly cash-based casino system can prevent crypto enthusiasts and holders from participating. Once casinos begin installing crypto ATMs, and eventually move on to direct crypto payments, more crypto holders can visit casinos. I will certainly boost the casino industry and will encourage other domains to adopt crypto as well. Slowly but surely, people with crypto tokens in their wallets will be able to use it to pay for services and commodities as well.