Gamblers will be able to use cryptocurrency as a form of payment when betting in a Las Vegas casino for the first time this summer as the $4.3billion Resorts World complex prepares to open.
Resorts World Las Vegas will be the first ground-up development to hit the Strip in a decade when it officially opens casino halls and 3,500 hotel rooms to visitors on June 24.
The mega resort is one of the most expensive investments in the history of Las Vegas and promises to modernize the city’s betting industry as players increasingly turn to online gambling.
And one of the biggest evolutions taking place at the new hotel and entertainment resort is the introduction of crypto gambling, which is the result of a partnership struck with crypto exchange Gemini that will allow players to use of their crypto wallet technology.
“As the first ground-up resort development on the Strip in more than a decade, Resorts World Las Vegas is committed to integrating innovative technology conveniences across the resort to enhance the overall guest journey,” said Scott Sibella, president of Resorts World Las Vegas.
“By partnering with Gemini, a leader in cryptocurrency exchange, we are taking another step toward providing progressive guest experience solutions for today’s Las Vegas traveler.”
Using Cryptocurrency in Vegas
Having a cryptocurrency casino in Las Vegas is an unfamiliar step for the Strip, which hasn’t enjoyed a serious revolution to its major casinos since before the financial crash in 2007. However, it is hoped crypto and the post-Covid recovery boom could bring tourists flooding back to the city. Blockchain currencies such as Bitcoin are being used by many online casinos as a form of payment method for both deposits and withdrawals – and now Vegas is catching up.
“Whether it’s the ability for their customers to use cryptocurrency at Resorts World Las Vegas or convert dollars into crypto, being one of the first to support crypto is a great way to meet the needs of the next generation of customers and provide a 21st-century experience,” said Tyler Winklevoss, CEO of Gemini.
Players often prefer cryptocurrencies when gambling online as they provide safe and secure transaction methods, while some players choose not to bet with dollars in their checking accounts.
Recent years have seen a boom in the use of crypto and even pro sports players are now being paid in the electronic currency, while Bitcoin sports betting is increasing in popularity.
Will More Casinos Follow?
Usually, when one casino deploys some form of new technology there is a scramble by others to follow suit. And it’s likely that the same will happen with crypto, where rival casinos will be watching Resorts World closely over the coming months.
The exact process in which Resorts World Las Vegas will become a crypto casino is yet to be made public. However, earlier in 2021 slot machine producer Game Technology Plc patented a technology that would allow players to transfer crypto funds – such as Bitcoin – into a gambling account, from which they can then bet.
