• Scarlet Pearl Casino in Mississippi intends to open a cryptocurrency ATM

  • Mississippi legalized sports betting is still in its infancy. Its introduction into the state’s casino scene, on the other hand, has helped to attract younger crowds to the state’s casino. Scarlet Pearl Casino in D’Iberville is one of the casinos that has succeeded in attracting younger patrons.

    Plans to Install Crypto ATMs

    According to its CEO, LuAnn Pappas, the casino intends to cater to younger crowds by installing a cryptocurrency ATM. According to Pappas, this will be the first time a casino in South Mississippi has facilitated such a move. She made the remarks in October at a meeting of the Gulf Coast Business Council in Gulfport. However, it will not be the first casino in the United States to use cryptocurrency. These ATMs are already available in Las Vegas, allowing customers to convert their cryptocurrency into cash at the casino.

    Mississippi Crypto Regulation

    According to one media report, there is no regulation in Mississippi regarding the use of a cryptocurrency ATM at a casino. According to Jay McDaniel, executive director of the Mississippi Gaming Commission, the state does prohibit the use of cryptocurrency or credit cards directly in slot machines.

    The director also stated that if casino operators requested it, the state’s Gaming Commission would consider going cashless. He mentioned that COVID19 had sparked the conversation. The Resort World Las Vegas casino in Las Vegas has already implemented a cashless casino floor as well as cashless payment for shops, restaurants, and entertainment.

    Using Crypto ATMs to Attract Millennials

    Many casinos in the United States have been working to improve their technology in order to attract younger customers. The majority of today’s youth are accustomed to using mobile wallets, cryptocurrency, and credit cards. As a result, they are more likely to use casinos that make it easy for them to do so.

    How Will The Crypto ATM System Work?

    When it is released, players will need to go to an ATM, withdraw their cryptocurrency in fiat cash, and then go to a table where it is counted and verified. Players will then be given casino chips to use in a variety of games. When a player has finished playing, he or she is given a different colored chip, which they take to the cage and cash out.

    Summary

    In Mississippi, sports betting is very popular. The addition of a cryptocurrency ATM option will undoubtedly attract some of the younger crowds looking to wager their winnings. It also indirectly contributes to the growth of cryptocurrency utility. So far, there are no plans to lobby the state to allow bettors to place wagers in cryptocurrency.

    Scarlet Pearl Casino hasn’t said much about its upcoming crypto ATM plans. There is no set date for when it will occur. Furthermore, it has not stated how many crypto coins it intends to support. It is worth noting, however, that it is the first casino in Mississippi to consider such a move.

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