Are There Any Regulations for Bitcoin Casinos? - page 4.

FlightyPouch

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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?

There are countries that have regulations about gambling sites or casinos, some countries are looking for licenses, maybe deduct some taxes from it.
But mostly I think many gambling sites or casinos have regulations neither a license.

avatar_kiyoshi

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Regulations for bitcoin casino is rarely because I think it's not mandatory, unless you live in the country which need have a regulations for your business(in this case bitcoin casino), for example spain.
I found an interesting article about regulations for bitcoin casino: https://www.bitcoingg.com/do-bitcoin-casinos-benefit-from-gambling-licenses/

Quote from: yugo23 on February 24, 2017, 05:48:39 AM

*snip*

You can locate your online casino in Panama and you won't have anything that is closed to any kind of regulation!

That's right. Mostly bitcoin casino located in panama.

maydna

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i think there are no regulations for bitcoin casinos as we know that bitcoin is not already accepted by many country so i think the government is not take attention for this. so if someone create bitcoin casino, i think he can run his casinos without having a license but if the government makes a rule that every bitcoin casino owner must have a license then i think the owner will follow their procedure, but so far, i think there is no regulations for bitcoin casinos.

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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?

Yes, payment things make necessaries for regulations.
When you are sticking within bitcoin or cryptocurrency payments with your gamblers then there would be no requirement of regulations as you never need any approval from any government.

Regulations for a casino business is mostly country specific at the same time online casino does not require these when not dealing fiats. If I plan for a casino I will not deal with fiats and physical casinos so I believe I never need to worry about regulations.

yugo23

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Regulation... Bitcoin...
I repeat: regulation and bitcoin

The only answer that can come out after that is "no" ^^
You can locate your online casino in Panama and you won't have anything that is closed to any kind of regulation!

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Quote from: eternalgloom on February 24, 2017, 03:35:34 AM

Are there any countries at all that see Bitcoin as an actual currency?
If so, it would probably be regulated there, or not?

I'd say most Bitcoin casino's are in a gray zone.

I agree with you, the majority of online casino (considering bitcoin casino is the one that OP is pointing out on this thread) are not legally acceptes by the government. Due to bitcoins anonymity feature. Bitcoin casino are freely operating wiyhout the concern of government. So it means there is no current regulation about it. But soon it will have once all country accepts bitcoin legality

eternalgloom

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Are there any countries at all that see Bitcoin as an actual currency?
If so, it would probably be regulated there, or not?

I'd say most Bitcoin casino's are in a gray zone.

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Quote from: Loepuenkyou on February 24, 2017, 12:38:28 AM

if you need bitcoin casino ready regulation you must verified ID in register
all user bitcoin casino site is need anonymous, so majority bitcoin casino site not regulation

On most bitcoin casinos they don't ask for id when you register instead they do a kyc when a user withdraw a huge amount or reach a certain limit.

Quote from: Loepuenkyou on February 24, 2017, 12:38:28 AM

if you need casino in regulation you can playing in williamhill or bwin

These sportsbook you mentioned doesn't even accept bitcoin.

Loepuenkyou

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if you need bitcoin casino ready regulation you must verified ID in register
all user bitcoin casino site is need anonymous, so majority bitcoin casino site not regulation
if you need casino in regulation you can playing in williamhill or bwin

novemberwoah

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I think regulation of each country is different about bitcoin casino. If we use an online casino with real money deposit, and there are some regulation from the government because they have a license and have become legal, so this online casino adhere to government regulations. But it seems that not all online casinos with real money deposit have a license from the government. So I think this flexible because each country has different regulations with gambling, so we have to look at the regulations of each country to know this.

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Thinking off about bitcoin is anonymous I think not all bitcoin casino sites are regulated by the government if if do have then it depends on which country you do live or operate. I don't have idea since Im not knowledgeable to make a new site (hope my assumptions are true

)

dejames

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Quote from: erpbridge on February 23, 2017, 08:49:23 PM

Do note that a lot of non-bitcoin casinos are also bitcoin-offering casinos and hence are regulated.

Which casinos are these? Care to share a list of them? Thanks

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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?

for bitcoin casinos no, i have never seen any regulations to this day. and i have never heard of anyone wanting regulations on the bitcoin casinos.
because regulations come at a cost. your anonimity will be lost and you will have to register properly with all your personal information, then you will have to possibly pay taxes on the money you are using in these casinos based on where you live. and lots of other stuff.

game-protect

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In most jurisdictions are regulations about Bitcoin casinos, because of wager valuable things. But there are probably a few countries without any regulations in regards to this.

I doubt that there is an overview available, because this overview would be very time consuming and expensive, as it would require to check the laws in all countries with different languages.

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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?

If the casino are registered then there could be precautions and regulations the casinos should be watching over. Like anti-money laundering and know-your-customers policies in place in most countries where gambling and casinos are allowed. But looking at the current casinos we see here, they don't even declare if they are registered.

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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?

Right now I don't see there's any because as what I have seen, there are a lot of casinos that are operating now and they can easily do it as long as they have a capital. If they are regulated by the government, then for sure we are all required to give our personal information before we can start gambling which is not the case now.

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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?

Ofcourse there are regulations that need to be followed. So the answer to your question is Yes. But do the gambling websites do it ? - No.

For example, Primedice stopped offering its services to US members because they cannot satisfy these regulations. Gambling sites are unregulated and their developers can land into legal trouble over time if the government was to enforce these more strictly.

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Gambling with cash needs some regulatory acts based on the government to gain reputation from its users. With bitcoin I don't think government regulation is a must. Because even in countries where gambling is banned has got online casinos that function along with bitcoin. Most of the casino websites with bitcoin acceptance is trusty. One amongst for better fun, as well earning is our betcoin.ag

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It depends on what country the gambling website is registered in. Since a lot of sites are registered in South american countries, I am sure they do have to follow some regulations. Which is also why some of the websites require proper verifications.
Do note that a lot of non-bitcoin casinos are also bitcoin-offering casinos and hence are regulated.

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Bitcoin casinos do not have licenses in general. That is why it is very important for the owners to have a good reputation in the community. It is also very advisable to avoid new casino services at first until they are proven to be worthy of the community's trust. But you are never to sure with bitcoin casinos. Some established brands also might exit scam. Some gamblers here think Jetwin might not come back anymore.

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