Are There Any Regulations for Bitcoin Casinos?

Rizky Aditya

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Quote from: Ridwan Fauzi on April 22, 2018, 01:58:41 AM

Quote from: markdario112616 on April 21, 2018, 09:33:45 PM

Quote from: Pursuer on April 14, 2018, 04:22:27 AM

the point of playing on an online gambling site and doing it with bitcoin is to escape all the regulations and possible restrictions, taxes, and all the headache of that. so in case some casino decided to become regulated they will just be killing their own business, it would be like shooting yourself in the foot while others are running ahead of you with a big distance between you and them!

not to mention that online gambling is not legal in many jurisdictions!

Good point, Online gambling owners tends to avoid this regulations and tax paying but the thing is that this people behind the online casinos are respectively paying some officials just to continue it's operation. It's a fact, This practices were made mostly in the Asian countries. Though, the hype of Bitcoin has started so this illegal Bitcoin casino owners are now prone to being shut down especially when it's user are growing each day, to the fact that it is now noticeable.

There are no regulation/s yet for this Bitcoin Casinos. A government can't regulate the transactions done thru Bitcoin, so technically speaking Bitcoin casinos are some what invisible to the Government.

Agree with your opinion, the main factor is that in some countries bitcoin still illegal or does not accept payment with bitcoin. Furthermore, many countries also prohibit gambling involve in his country, moreover to accept gambling sites, to receive bitcoin as currency they also refuse. Most likely bitcoin casinos will be accepted in some countries that legalize gambling and which legalize bitcoin as a legitimate currency.

This is seriously weird. Why people are so dump that they even don’t see their profitable lives in trading and investing rather keep talking about the plans and strategies to be involved in gambling. And plus stupidity is, they want to make bitcoins as the source in gambling. The most stupid idea this is, really. They don’t know how big mistake they are just making by doing so.

TheGreatPython

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Quote from: Saidmod on April 20, 2018, 06:28:59 AM

Quote from: TheUltraElite on April 20, 2018, 05:49:58 AM

Quote from: jhongzjhong on April 19, 2018, 08:42:17 AM

That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.

The legality of bitcoin and gambling should be considered separately. While in some countries bitcoin transactions are illegal already, gambling is illegal in many countries. So considering the overlap between the two we can see that some countries will fall in the section where both bitcoin and gambling is legal.

Again bitcoin gives pseudo-anonymity and thus gamblers feel safer betting with crypto than fiat. Safer in the sense that they are less likely to be caught be others.

I agreed, every country has a different rules over the regulations an dlike in my coubtry there is still no strong regulations especially in online investments or casino's and still they are researching on it before to take some regulations along with it.

They must do this as soon as possible. Reason is, this game is harmful to the person playing and to the society and ultimately to the country’s progress. If people don’t stop gambling they will be increasing the unemployment rates and the family relationships broken rates and divorce rates and so much. This all will be damaging the pace and progress of country. So they must find urgent solution.

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Quote from: jhongzjhong on April 19, 2018, 08:42:17 AM

Quote from: barbara44 on April 19, 2018, 07:15:07 AM

Quote from: stellgod on April 18, 2018, 04:53:54 AM

Quote from: Harlot on April 14, 2018, 05:20:41 AM

That is the tricky part because online gambling on some countries should be licensed first before they can even operate in that country. Now this Bitcoin gambling site do not cater to one country only as most of them accepts players internationally. I don't know whether what they are doing is legal or not but it maybe has something to do with them operating on cryptocurrencies and not involving Fiat Currencies, it maybe is there legal loophole that is why they can operate without even the government shutting them down. They are like Faucet sites or any Bitcoin related site.

In my country the government also banned bitcoin and its trading because it is decentralized and the government has nothing to do with bitcoin. If the people lost their money or being looted they cannot report it in government. Anyhow there should be rules for gambling in bitcoin in these countries where it is allowed and people freely deal in bitcoin.

No, I think if the governments are continuously banning bitcoins to be used in their countries just because of the reason that bitcoins are decentralized and they can’t control them, I think they must ensure the banning of gambling as well. Reason is, people are losing their money and valuables and becoming unemployed and thus making a bad image and impact to the society.

That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.

Yeah bitcoin gambling has no rules and regulations and that is because the whole world is using bitcoin for their purchases and for gambling as well. So I think no rules can be made for the users around the globe. Online gambling is different than bitcoin gambling. It is not related to one person or one country and no single person is able to make rules for bitcoin gambling.

Kiweikoo

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Quote from: Shadovka on April 19, 2018, 09:21:26 AM

I am not sure about bitcoin casino. However i think they should implement a set of rule in place to avoid foul play by any parties which will act as a safeguard for everyone also. Since online betting is so convenient and accessible government should also add some regulations on player over betting if not in the long term we should be seeing a lot of social problems due to online gambling.

Gambling itself is a problem and not good for anybody, therefore I think that rules and regulation is not possible for an illegal activity because gambling is not allowed in many countries and rules cannot be implemented there. Even bitcoin is banned in many countries so how it is possible that bitcoin gambling would be under any rules and regulation.

krishnaverma

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Quote from: SolomonSollarsNSense on April 17, 2018, 07:09:53 AM

It is possible in Europe, America and some countries in Asia but most parts of the world do not allow gambling and casinos. Even bitcoin is illegal in many countries. So there are no possibilities of regulations of bitcoin casinos. I think that one should not gamble because the result of gambling is losing and one should not lose his money so easily in gambling.

In India, such websites are operating based on certain loopholes. For instance, the court has given a ruling that if any games involves skills, then it is not gambling and websites can offer such games. So, these bitcoin casinos juts include such games only to remain safe from legal troubles.

Tigorss

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Quote from: dejames on February 23, 2017, 05:59:30 PM

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

of course there is suppose the age of play is min 18 years., Member is responsible for ID and PASS that we have given., Member is required to provide the latest data used at the time of register, Member can make request Deposit or Withdrawal at any time except bank in state Offline

Ridwan Fauzi

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Quote from: markdario112616 on April 21, 2018, 09:33:45 PM

Quote from: Pursuer on April 14, 2018, 04:22:27 AM

the point of playing on an online gambling site and doing it with bitcoin is to escape all the regulations and possible restrictions, taxes, and all the headache of that. so in case some casino decided to become regulated they will just be killing their own business, it would be like shooting yourself in the foot while others are running ahead of you with a big distance between you and them!

not to mention that online gambling is not legal in many jurisdictions!

Good point, Online gambling owners tends to avoid this regulations and tax paying but the thing is that this people behind the online casinos are respectively paying some officials just to continue it's operation. It's a fact, This practices were made mostly in the Asian countries. Though, the hype of Bitcoin has started so this illegal Bitcoin casino owners are now prone to being shut down especially when it's user are growing each day, to the fact that it is now noticeable.

There are no regulation/s yet for this Bitcoin Casinos. A government can't regulate the transactions done thru Bitcoin, so technically speaking Bitcoin casinos are some what invisible to the Government.

Agree with your opinion, the main factor is that in some countries bitcoin still illegal or does not accept payment with bitcoin. Furthermore, many countries also prohibit gambling involve in his country, moreover to accept gambling sites, to receive bitcoin as currency they also refuse. Most likely bitcoin casinos will be accepted in some countries that legalize gambling and which legalize bitcoin as a legitimate currency.

markdario112616

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Quote from: Pursuer on April 14, 2018, 04:22:27 AM

the point of playing on an online gambling site and doing it with bitcoin is to escape all the regulations and possible restrictions, taxes, and all the headache of that. so in case some casino decided to become regulated they will just be killing their own business, it would be like shooting yourself in the foot while others are running ahead of you with a big distance between you and them!

not to mention that online gambling is not legal in many jurisdictions!

Good point, Online gambling owners tends to avoid this regulations and tax paying but the thing is that this people behind the online casinos are respectively paying some officials just to continue it's operation. It's a fact, This practices were made mostly in the Asian countries. Though, the hype of Bitcoin has started so this illegal Bitcoin casino owners are now prone to being shut down especially when it's user are growing each day, to the fact that it is now noticeable.

There are no regulation/s yet for this Bitcoin Casinos. A government can't regulate the transactions done thru Bitcoin, so technically speaking Bitcoin casinos are some what invisible to the Government.

karnwillbit

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Quote from: jhongzjhong on April 19, 2018, 08:42:17 AM

Quote from: barbara44 on April 19, 2018, 07:15:07 AM

Quote from: stellgod on April 18, 2018, 04:53:54 AM

Quote from: Harlot on April 14, 2018, 05:20:41 AM

That is the tricky part because online gambling on some countries should be licensed first before they can even operate in that country. Now this Bitcoin gambling site do not cater to one country only as most of them accepts players internationally. I don't know whether what they are doing is legal or not but it maybe has something to do with them operating on cryptocurrencies and not involving Fiat Currencies, it maybe is there legal loophole that is why they can operate without even the government shutting them down. They are like Faucet sites or any Bitcoin related site.

In my country the government also banned bitcoin and its trading because it is decentralized and the government has nothing to do with bitcoin. If the people lost their money or being looted they cannot report it in government. Anyhow there should be rules for gambling in bitcoin in these countries where it is allowed and people freely deal in bitcoin.

No, I think if the governments are continuously banning bitcoins to be used in their countries just because of the reason that bitcoins are decentralized and they can’t control them, I think they must ensure the banning of gambling as well. Reason is, people are losing their money and valuables and becoming unemployed and thus making a bad image and impact to the society.

That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.

It is clever of a government to accept bitcoin and allow its citizen to enjoy financial matters in the form of this currency but allowing gambling and that also with bitcoin, does not sound very lucky to me friend. Risking the most precious and expensive asset of the world in most useless and dangerous game is the worst decision that one can make in his life. I believe, bitcoin has more meaningful uses.

Saidmod

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Quote from: TheUltraElite on April 20, 2018, 05:49:58 AM

Quote from: jhongzjhong on April 19, 2018, 08:42:17 AM

That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.

The legality of bitcoin and gambling should be considered separately. While in some countries bitcoin transactions are illegal already, gambling is illegal in many countries. So considering the overlap between the two we can see that some countries will fall in the section where both bitcoin and gambling is legal.

Again bitcoin gives pseudo-anonymity and thus gamblers feel safer betting with crypto than fiat. Safer in the sense that they are less likely to be caught be others.

I agreed, every country has a different rules over the regulations an dlike in my coubtry there is still no strong regulations especially in online investments or casino's and still they are researching on it before to take some regulations along with it.

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Quote from: jhongzjhong on April 19, 2018, 08:42:17 AM

That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.

The legality of bitcoin and gambling should be considered separately. While in some countries bitcoin transactions are illegal already, gambling is illegal in many countries. So considering the overlap between the two we can see that some countries will fall in the section where both bitcoin and gambling is legal.

Again bitcoin gives pseudo-anonymity and thus gamblers feel safer betting with crypto than fiat. Safer in the sense that they are less likely to be caught be others.

Shadovka

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I am not sure about bitcoin casino. However i think they should implement a set of rule in place to avoid foul play by any parties which will act as a safeguard for everyone also. Since online betting is so convenient and accessible government should also add some regulations on player over betting if not in the long term we should be seeing a lot of social problems due to online gambling.

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Quote from: barbara44 on April 19, 2018, 07:15:07 AM

Quote from: stellgod on April 18, 2018, 04:53:54 AM

Quote from: Harlot on April 14, 2018, 05:20:41 AM

That is the tricky part because online gambling on some countries should be licensed first before they can even operate in that country. Now this Bitcoin gambling site do not cater to one country only as most of them accepts players internationally. I don't know whether what they are doing is legal or not but it maybe has something to do with them operating on cryptocurrencies and not involving Fiat Currencies, it maybe is there legal loophole that is why they can operate without even the government shutting them down. They are like Faucet sites or any Bitcoin related site.

In my country the government also banned bitcoin and its trading because it is decentralized and the government has nothing to do with bitcoin. If the people lost their money or being looted they cannot report it in government. Anyhow there should be rules for gambling in bitcoin in these countries where it is allowed and people freely deal in bitcoin.

No, I think if the governments are continuously banning bitcoins to be used in their countries just because of the reason that bitcoins are decentralized and they can’t control them, I think they must ensure the banning of gambling as well. Reason is, people are losing their money and valuables and becoming unemployed and thus making a bad image and impact to the society.

That's will happens if bitcoin was strictly prohibited in the country it depends upon on the situation in bitcoin into a country.
Yeah, we all know that bitcoin is a decentralized technology coin and nobody could stop on the technology.
If a country has no law in cryptos also gambling has not prohibited or casino who used bitcoin for gambling.
Just like here our country we have freely used bitcoin here so we are not prohibited to do gambling.

barbara44

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Quote from: stellgod on April 18, 2018, 04:53:54 AM

Quote from: Harlot on April 14, 2018, 05:20:41 AM

That is the tricky part because online gambling on some countries should be licensed first before they can even operate in that country. Now this Bitcoin gambling site do not cater to one country only as most of them accepts players internationally. I don't know whether what they are doing is legal or not but it maybe has something to do with them operating on cryptocurrencies and not involving Fiat Currencies, it maybe is there legal loophole that is why they can operate without even the government shutting them down. They are like Faucet sites or any Bitcoin related site.

In my country the government also banned bitcoin and its trading because it is decentralized and the government has nothing to do with bitcoin. If the people lost their money or being looted they cannot report it in government. Anyhow there should be rules for gambling in bitcoin in these countries where it is allowed and people freely deal in bitcoin.

No, I think if the governments are continuously banning bitcoins to be used in their countries just because of the reason that bitcoins are decentralized and they can’t control them, I think they must ensure the banning of gambling as well. Reason is, people are losing their money and valuables and becoming unemployed and thus making a bad image and impact to the society.

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Quote from: shield132 on April 18, 2018, 05:16:04 PM

Quote from: iv4n on April 18, 2018, 06:57:48 AM

Quote from: denny27 on April 18, 2018, 05:54:35 AM

Due bitcoin hasn't been announced at all that it's legal in my country, it's obviously not yet seen that there is regulation or oversight for bitcoin casinos like online casinos on certain sites. Online casino sites can be opened, and the government still looks indifferent on it.
It's in the country where I live, But perhaps for a country that has already legalized bitcoin, I don't think it will be banned although there is no regulation or oversight because it's more involved at the own risk in gambling on the casino.

People like you needs to understand what is bitcoin, what is government what is gambling industry. Bitcoin is already regulated, governments will regulate bitcoin and gambling industry in two different ways, if they didn't do it by now.
Online casino can be opened but if that is regulated by county law, online casino will need to pay taxes and to have everything done by the book, they will need to have what ever law say they need to have.
Many governments still don't know what to do with bitcoin, bitcoin gambling is in anonymous for now, many of us can gamble without any restrictions but times are changing, I see many different things now then before two years. For many things and changes we will need to wait to see what will happen. My prediction stayed the same, some governments will be open to bitcoin and crypto gambling, some will not.

Online casinos have to pay taxes in any way (maybe situation is only different in curaccao, don't know really). Usually rule is following: Casino can avoid paying taxes if they put their profit in lottery/free tournaments and etc.
What things and changes do you see op since 2016?

To maintain their website registered with the concern country they need to manage all these things like taxation, perfect web domain maintenance fee and etc but these regulations are not good for the gamblers at all.
I see casino sites are mostly cheating the gamblers like watching card in poker room games. Prefixed roll on the slot rolling by setting the low amount in 99 time out of 100. These things kind of scam according to me. None of the shit regulations work for casinos.

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Quote from: iv4n on April 18, 2018, 06:57:48 AM

Quote from: denny27 on April 18, 2018, 05:54:35 AM

Due bitcoin hasn't been announced at all that it's legal in my country, it's obviously not yet seen that there is regulation or oversight for bitcoin casinos like online casinos on certain sites. Online casino sites can be opened, and the government still looks indifferent on it.
It's in the country where I live, But perhaps for a country that has already legalized bitcoin, I don't think it will be banned although there is no regulation or oversight because it's more involved at the own risk in gambling on the casino.

People like you needs to understand what is bitcoin, what is government what is gambling industry. Bitcoin is already regulated, governments will regulate bitcoin and gambling industry in two different ways, if they didn't do it by now.
Online casino can be opened but if that is regulated by county law, online casino will need to pay taxes and to have everything done by the book, they will need to have what ever law say they need to have.
Many governments still don't know what to do with bitcoin, bitcoin gambling is in anonymous for now, many of us can gamble without any restrictions but times are changing, I see many different things now then before two years. For many things and changes we will need to wait to see what will happen. My prediction stayed the same, some governments will be open to bitcoin and crypto gambling, some will not.

Online casinos have to pay taxes in any way (maybe situation is only different in curaccao, don't know really). Usually rule is following: Casino can avoid paying taxes if they put their profit in lottery/free tournaments and etc.
What things and changes do you see op since 2016?

Shenzou

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Some governments are strict about online gambling sties, whether it is bitcoin based or not, some others don't mind or bother with them because they don't have the resources to monitor these kind of things, and that is why nowadays we see a lot of gambling sites being hosted in foreign countries where they won't be harassed by governments or taxes, the only regulation that differences real money gambling sites from the bitcoin ones, is they require you a minimum deposit and and id, and since bitcoin is anonymous any person even a 10 year old kid could be gambling.

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Quote from: denny27 on April 18, 2018, 05:54:35 AM

Due bitcoin hasn't been announced at all that it's legal in my country, it's obviously not yet seen that there is regulation or oversight for bitcoin casinos like online casinos on certain sites. Online casino sites can be opened, and the government still looks indifferent on it.
It's in the country where I live, But perhaps for a country that has already legalized bitcoin, I don't think it will be banned although there is no regulation or oversight because it's more involved at the own risk in gambling on the casino.

Bitcoin and gambling are two different thing and you must not mix these two. It is very much possible for a country to legalize bitcoin but not gambling or casino business. The exact opposite can also happen. So if a country legalize bitcoin as well as casino gambling business, they won't have any issue in providing license for bitcoin casinos, otherwise not!

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Quote from: denny27 on April 18, 2018, 05:54:35 AM

Due bitcoin hasn't been announced at all that it's legal in my country, it's obviously not yet seen that there is regulation or oversight for bitcoin casinos like online casinos on certain sites. Online casino sites can be opened, and the government still looks indifferent on it.
It's in the country where I live, But perhaps for a country that has already legalized bitcoin, I don't think it will be banned although there is no regulation or oversight because it's more involved at the own risk in gambling on the casino.

People like you needs to understand what is bitcoin, what is government what is gambling industry. Bitcoin is already regulated, governments will regulate bitcoin and gambling industry in two different ways, if they didn't do it by now.
Online casino can be opened but if that is regulated by county law, online casino will need to pay taxes and to have everything done by the book, they will need to have what ever law say they need to have.
Many governments still don't know what to do with bitcoin, bitcoin gambling is in anonymous for now, many of us can gamble without any restrictions but times are changing, I see many different things now then before two years. For many things and changes we will need to wait to see what will happen. My prediction stayed the same, some governments will be open to bitcoin and crypto gambling, some will not.

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Due bitcoin hasn't been announced at all that it's legal in my country, it's obviously not yet seen that there is regulation or oversight for bitcoin casinos like online casinos on certain sites. Online casino sites can be opened, and the government still looks indifferent on it.
It's in the country where I live, But perhaps for a country that has already legalized bitcoin, I don't think it will be banned although there is no regulation or oversight because it's more involved at the own risk in gambling on the casino.

Topic: Are There Any Regulations for Bitcoin Casinos? (Read 1384 times)