ShareNot too long ago, cryptocurrencies like Bitcoin and Ethereum were mainly seen as a unique way to buy things online. Fast forward to today, and cryptocurrencies are used in once-unthinkable places. Online poker rooms and various online casinos have been accepting crypto payments long enough, but whether you can play poker in-person with cryptocurrency is a more nuanced situation that depends heavily on both jurisdiction and location.
The adoption of cryptocurrency to play live games in traditional casinos has been slow, largely because of regulatory limitations and because real-time transactions at poker tables are required. Direct crypto payments at live poker tables are quite rare, as most casinos that have been built continue to use cash-based services. But this is quickly changing as additional jurisdictions refine their position regarding digital currencies.
The regulatory climate is key in defining where crypto poker will be held physically. Where cryptocurrency is fully regulated in the same jurisdiction as gambling is, certain establishments have started to experiment with the crypto-to-cash conversion service. The services will enable players to exchange their digital assets for fiat currency on arrival, which effectively will allow crypto owners to engage in live poker games.
Another opportunity to integrate cryptos into poker is in the form of poker clubs and private poker games. Compared to regulated casinos, private games tend to be more lenient about payment. Cryptocurrencies have been adopted as buy-ins in some high-stakes private poker games, especially in crypto-friendly jurisdictions, with players transferring cryptocurrency to organizers who supply chips to use at the game.
Players who have experience playing at a crypto casino have become more comfortable with some aspects of gambling using cryptocurrency. These online sites allow players to wager in their preferred crypto, provide access to exclusive crypto bonuses, and allow players to select from a wide library of poker variations. Players can easily select RNG-based poker, video poker, or wager on a live dealer poker game. This familiarity has opened some innovative venues to consider hybrid solutions with online and on-site crypto gaming.
Casinos and poker rooms that provide ATM and conversion services have opened unofficial ways in which cryptocurrency users can join the live game. Gamers can turn their online assets into cash right before they enter a poker room and basically play with traditional casino chips using cryptocurrency as their funding source. The workaround is gaining popularity in crypto ATM-saturated locations.
Cryptocurrency is also accepted by some progressive poker rooms as tournament buy-ins, although likely not in cash games. The legal issues that affect cryptocurrency poker tournaments are constantly changing as the operators will adapt to different legal frameworks in different locations. Naturally, tournament structures form boundaries that allow crypto accounting to be easier than open cash games.
The technological aspects of the provision of cryptocurrency payments in live poker settings are huge. Live blockchain verifications, wallet services, and the volatility of digital currency introduce complexities in operations, which a significant number of establishments are ill-prepared to manage. The anonymity of cryptocurrency payments is incompatible with the know-your-customer regulations that authorized gambling casinos should adhere to.
More creativity in crypto acceptance has been seen with international poker tournaments and poker cruise events, especially in international waters or regions permitting the use of cryptos. These tournaments usually target wealthy players who might have large amounts of cryptocurrencies and want to play with their digital currency in high-stakes games.
In the future, it seems that the adoption of cryptocurrency in live poker is unavoidable, as digital payment infrastructure continues to evolve, and laws become more transparent. The increasing popularity of Bitcoin and other cryptocurrencies among large financial institutions indicates that in the future, poker casinos will be forced to accept crypto-carrying customers. Now, crypto fans who want to play poker live must juggle between conversion platforms and progressive casinos, as the industry gradually adjusts to the needs of digital money use.
