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Poker news | Feb 09, 2021

IGT Looking to Implement Bitcoin at Land Based Casinos

By RTR Dennis

665x200 jan21 igt bitcoin

International Game Technology (IGT) is one of the most-successful slots developers in the gaming industry. They’re now leading the way to bring Bitcoin (BTC) to land-based casinos.

IGT has filed for a patent to let gamblers use cryptocurrency in brick-and-mortar casinos. According to company spokesman Phil O’Shaughnessy, the patent would pave the way for Bitcoin and other cryptocurrencies to be used in casinos within the next few years.

Crypto Efforts Would Begin in Las Vegas

If its patent is approved, IGT doesn’t have a definite timetable on when they’d roll out crypto-compatible technology. What is known, though, is that they’d develop plans to introduce cryptocurrency tech in Las Vegas.

This move only makes sense when considering that many IGT slot machines are already in Sin City. Using Bitcoin tech in Vegas first seems natural in this case.

How Would Bitcoin Work in Vegas Casinos?

IGT plans on putting special ATMs inside of Las Vegas casinos. These ATMs would allow gamblers to convert their Bitcoin into cash.

They’d also be able to convert any other accepted cryptocurrencies as well. Some of the most-popular crypto beyond BTC for payments include Ethereum, XRP, Bitcoin Cash, and Litecoin.

NGC Paves the Way for Crypto Related Gaming

The Nevada Gaming Commission (NGC) recently approved a measure that allows Vegas visitors to transfer money from an online service to a slot machine. This approval is what motivated IGT to seek a Bitcoin-related patent.

BTC owners store their crypto on exchanges (e.g. Coinbase) or in online wallets. In either case, transferring Bitcoin to a gaming machine would be perfectly fine under the NGC’s new guidelines.

What can Cryptocurrencies Do for Las Vegas?

The popularity of Bitcoin, Ethereum, XRP, and other cryptocurrencies grows with each passing year. In turn, many people are likely to use crypto for more than just investments and speculation. IGT’s patent would help further BTC adoption by making a viable payment method inside of casinos.

In exchange, cryptocurrencies give gamblers yet one more way to enjoy gaming. They can quickly turn their Bitcoin into cash and start playing slot machines or video poker.

They might also help Vegas casinos draw younger gamblers. After all, many crypto owners and users are young adults. These players may relish the opportunity to use cryptocurrencies in another manner.

Will Bitcoin Be a Game-Changer for Vegas Casinos?

The Sin City gaming industry has struggled while dealing with COVID-19. The coronavirus temporarily caused Vegas casinos to shut down and continues leading to people wearing masks around the town.

That said, Las Vegas will accept anything that helps it rebound. BTC likely won’t be a huge game-changer for the industry.

However, it could be part of what helps Vegas casinos recover from a tough time period. The only catch, though, is that IGT’s crypto technology doesn’t figure to be available until a few years down the road.