Metaverse Has Virtual Casino Resorts Awaiting For Player Avatars

Metaverse Has Virtual Casino Resorts Awaiting For Player Avatars

There are rumors about a new casino in Times Square. New Yorkers are already playing casinos online. Online casino gambling is legal in six states. Tech companies and entrepreneurs are trying to create a lucrative new digital land. iGaming NEXT Conference is taking place a block away from Times square. PlayUSA’s series on the gamblification of the metaverse is part 2. It explores how tech companies are attempting to draw the maps for this endless and perhaps lucrative digital space.

“We can’t say specifically how it” will lead to legal gambling, Ed Birkin, senior consultant at H2 Gambling Capital said.

Entain, Microsoft and Epic Games are investing in the new virtual reality technology. The market for NFTs and other cryptocurrencies has crashed recently. There are some skeptics in this field. There is already a legal pushback from Texas Securities Board over the use of N FTs for casino gaming in metaverse. Federal intervention is always possible. However, the demographic of customers will be young and crypto-savvy. Online gamblers are moving from online slots to live dealer poker.

Entain is trying to replicate the sports betting/casino experience in the digital world of metaverse. It is on the rise now like the younger generation of gamers. It's a seven-minute walk from the player's place to the nearest Starbucks.

Birkin doesn't know if Entain's future products are headsets or 3D flat screens.

Birkin believes that VR headsets could be used to create a more immersive experience. He thinks that it could also be a way to make more money from gambling.

Paul Rogash is the CEO of BetU, which plans to launch a metaverse casino resort in June. Decentral Games, based in Panama, runs a crypto casino called ICE Poker. It generated in excess of $7.5 million through March. The company rationalizes the system as not constituting gambling. John Holden, an assistant professor at Oklahoma State University, studies the gambling industry.

Rogash is creating a casino with play-to-earn gaming levels and a hotel. He wants to focus on gaming and not on building a world on top of it.

There is no clear-cut law regarding the legality of virtual casinos. Bitcoin has a legal status. The Department of Justice has had little trouble finding applicable laws to prosecute people who commit crimes with or around Bitcoin.

Metaverse has Virtual Casino Resorts waiting for player avatar. They would like to go for local licenses in the USA. However, they are not interested in gambling. They consider it a risky business. It is difficult to stop decentralization.

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