Nicolas Maduro has at long last authorized the opening of an International Casino in a luxurious Hotel, in the city of Caracas. The casino will be in support of the Petro (PTR) and Public. This means that the casino will operate with Venezuela’s cryptocurrency Petro and the funds will be used to support the public health and Education.
All betting establishments in Venezuela were banned by Hugo Chavez less than a decade ago. He claimed that they were common areas for illicit drugs, prostitution, and other crimes in the country. In 2011, Venezuelans had limited options for gambling as there were only a few online sites to choose from.
What is the International Casino?
There are several questions concerning the Casino Opening announcement, the name of the Casino has yet to be determined, the logistics of how it will operate, if the casino will have crypto ATMs, and how potential winners will collect their money or if players will be using Petro app to gamble. Until now, these questions have no answers. Another big question is how will this crypto casino fund the public health and Education sectors in Venezuela?
Venezuela’s government is known for not following through on promises made in the past concerning the use of the country's petro token and therefore Cointelegraph gives the advice to everyone to be wary of the new casino opening announcement.
Petros Gambling Casino
The Petro token was launched in Feb of 2018 as Maduro attempted to evade the European and US sanctions against some state companies and officials. The US considers Petro as a scam and has since banned its use. The guests must have the Petro app to participate in this Casino even though the specific cryptocurrencies gamblers can use are not very clearly stated, users will buy PTR using LTC, BTC, and DASH. The goal of the casino is to buy additional resources that will boost the poor economy of Venezuela.
On top of that, Nicolas Maduro has announced the mandatory use of PTR to pay for the country’s document services such as passports. Venezuela will embrace the one casino opening, as Maduro did not clarify in his announcement if more casinos will be opened in the future. The Hotel Humboldt Casino may actually start up in the coming months, but in the meantime, gamblers should continue using the available online casinos.