Betting in bitcoin is legal or illegal? - page 3.

Sanitough

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Quote from: katarin2030 on March 04, 2018, 08:31:00 AM

It depends on which country you are speaking, in many countries bitcoin is itself an illegal so betting on bitcoin also becomes an illegal activity. But in few place bitcoin is legal so then no question illegal there can easily play betting activity without any hesitation.

I may not know about those countries that consider bitcoin as illegal but I am pretty sure that there are more countries who
are open for the development and they accepted bitcoin although not yet regulating it.
Our best chance for bitcoin to continue to exist is when it will be regulated which I think we will be there soon.

Karavadinos

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Quote from: Shwester on January 29, 2018, 07:39:17 AM

I don't think it will illegal.

In the most of the countries, betting with bitcoin is not illegal, as there are a lot of gambling sites in the internet was created from many countries around the world, most of people gamble with bitcoin through internet and i guess even it is illegal they will use it in betting anyway.
I think there some restriction rules in gambling in some arabic countries like Saudia Arabia, I think it's forbidden due to their religion because gambling is a sin.

katarin2030

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It depends on which country you are speaking, in many countries bitcoin is itself an illegal so betting on bitcoin also becomes an illegal activity. But in few place bitcoin is legal so then no question illegal there can easily play betting activity without any hesitation.

denny27

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If seen in general, it's more directing to an illegal I guess., because it's less feasible if done for the community generally.
Well but in fact, as long as bitcoin is not governed by the whole governments to not being used for a gambling, it can be said., that it's still legal I guess. Yea., from the beginning until now, there's no provision at all that there's forbidden to gamble using bitcoin.

noormcs5

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Quote from: Shwester on January 29, 2018, 07:39:17 AM

I don't think it will illegal.

Well it depends on which part of the world you are betting. Few countries do not allow it and therefore people still bet and are therefore doing it illegally. On the other hand, where gambling is legal there betting is also legal because betting is just a part of gambling and you can't distinguish between the two. So basically the country and the religion decides it is legal or not.

hacekd

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Quote from: monalia on January 29, 2018, 07:52:22 AM

Quote from: Shwester on January 29, 2018, 07:39:17 AM

I don't think it will illegal.

I think Bitcoin is illegal because government should not allowed in betting but this coin is Decentralised cryptocurrency so many investors are involved in gambling in this forum. This make huge profit or loss whatever happens in this platform. So this is risky and insecured investment.

one of the reasons some countries do not legalize bitcoin. Bitcoin virtual wallet security system is considered almost perfect, but that does not mean I have a gap. When opening an account, users will get a special line of code as a secret key. This code can be stored in a digital wallet that can be accessed via smartphone, PC, or laptop.

But if this digital wallet is lost, hacked, or hit by a malware attack, all the bitcoins you have will be lost forever, without allowing restoration.

Theb

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It's not what you think as there are certain laws in a country that would render Bitcoin gambling illegal or not and different countries have different laws about gambling. Online Bitcoin gambling is classified as an electronic games or e-games for short which some countries requires licensing in order to operate in that country, so if you are a gambling site operating in that country without any license then you are illegally operating. Other than that I don't see anything except if Bitcoin use is illegal in that country.

paul00

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Technically speaking, I should say that bitcoin betting is an illegal thing for there is no legalities on the existence of Bitcoin in the first place. Also, I still value the age limits that should be imposed in gambling and there are websites where age does not matter when you play or join in the game.

logicgate

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Quote from: bitcoinmaster44 on March 02, 2018, 07:01:49 AM

Of course it's legal, why not?

But not everywhere, dude. In our country, it is crime to even open such casino. Not only casino, if someone is found guilty to provide a platform for people to come and gamble, either it is restaurant or a house, he will be accused of crime and thrown to jail without any consent. It is extremely a case of social and moral disgrace if any person is involved in gambling, in any form it as well.

samcrypto

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Quote from: bitcoinmaster44 on March 02, 2018, 07:01:49 AM

Of course it's legal, why not?

It's legal but it will always depend on your place because we all know what is going on with bitcoin in so many countries. For me its illegal to use bitcoin on betting simply because I value bitcoin and I know its too risky to gamble, so for me its better to value your holdings specially with bitcoin because it can generate higher profit in the long run.

JL421

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Quote from: krishnaverma on February 18, 2018, 04:12:24 AM

Quote from: JL421 on February 14, 2018, 12:24:52 AM

It is illegal only in us because they can't earn money from these sites if they are paying tax then it's fine but till now most betting sites don't have a tie up. If you use vpn you are good to go or else if you don't reside in us then it isn't illegal because there isn't any particular law for bitcoin gambling

There are no rules in my country regarding playing with bitcoins. However, I suggest that everyone should pay taxes on the profit. Also, if the government in my country made its stance clear regarding this, I would be really happy and play without any tension.

If there are no rules why pay taxes , giving tax on our winnings is free funds for the government which isn't necessary as long as there is no rule that you have to pay taxes on profit from bitcoin gambling don't pay and even if any such rule exist you can easily evade is as there is no chance the government would be able to trace you down and most bitcoin gambling sites don't bother about the user personal life unless you gamble on fortunejack

KennyR

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Bitcoin is all about uncertainty, making bets on its price moves doesn't need any legality. It can be considered same as that we bet on sports events. Some countries where gambling is a banned thing, and in such cases it might require some sort of legal acceptance.

GoodLuck2

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Quote from: MMA on February 27, 2018, 07:53:42 PM

Quote from: milewilda on February 27, 2018, 04:26:42 PM

Quote from: blockman on February 27, 2018, 04:19:18 PM

Quote from: xhienigat on February 27, 2018, 10:26:34 AM

I think its not illegal to use bitcoin in betting if your country or government doesn't says its illegal to use bitcoin.

It has been answered by others above your post so by negligence of knowing the rule on your country if they banned or it is illegal to gamble with bitcoin or not even with bitcoin, you must be responsible for it.

Quote from: xhienigat on February 27, 2018, 10:26:34 AM

And also the online casino you're using is also registered or they have the permit to operate.

There are casino's that are not registered, why? In some countries they are not focusing with online business entities so they are free of operating and doesn't need a permit to operate but this only applies in some.

Illegal or not we should still abide the rules being set out by the government and we do know the consequences if they do caught us on doing prohibited things but still there are people who do resist and do still play no matter what. Each country do have their own corresponding laws and views towards online bitcoin gambling. Some are on neutral side some do already have strict prohibitions.

But i have seen a lot of people who mostly avoid the rules and regulation that their government have setup. In some countries gambling is totally consider as illegal but still their people are playing gambling not only in casino but also using online gambling site which is now more convenient for them to use for playing gambling as their government cannot get access to them to charge the for their gambling activities.

Gambling by using this currency has now become much common especially in the west world where people are highly exposed to the modern technology and have easy access to the internet where online methods are easily available for being used as a gambling of crypto currencies. On the other hand if we talk about the governmental setups then this is not possible to be declared as one of the legal acts under the rules and laws.

LuanX3

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Quote from: bitcoinmaster44 on March 02, 2018, 07:01:49 AM

Of course it's legal, why not?

Well you don't seem to get the logic of this question. Probably you are thinking too narrow which means that you are just thinking of your locality. If you don't know, there are places that bitcoins are illegal and there are countries or jurisdictions that do not allow or severely limits gambling as well. So there becomes a problem there. Maybe it is legal with your jurisdiction but that is not the same story elsewhere.

bitcoinmaster44

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Of course it's legal, why not?

game-protect

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If betting with valuable things like Bitcoin requires a license from the country of your residence and a casino has none, then it is illegal!

But as Bitcoin is an anonymous value transfer system, I have no idea what your problem is?

siti25

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It will be legal if the bitcoin is legal in your country, and it would also be illegal if the bitcoin is illegal in your country. The answer to this question will always be that way, so it all depends on the situation where you live and where you do it. There is no right and wrong answer to this question, all conditional.

Zabrielle

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No i guess not. If you have bitcoin you can do watever you want with it. Bitcoin is design to purchase online without tracing he transacstions. So if people what to bet on something andcont to be trace then thats ok.

blockman

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Quote from: milewilda on February 27, 2018, 04:26:42 PM

Quote from: blockman on February 27, 2018, 04:19:18 PM

Quote from: xhienigat on February 27, 2018, 10:26:34 AM

I think its not illegal to use bitcoin in betting if your country or government doesn't says its illegal to use bitcoin.

It has been answered by others above your post so by negligence of knowing the rule on your country if they banned or it is illegal to gamble with bitcoin or not even with bitcoin, you must be responsible for it.

Quote from: xhienigat on February 27, 2018, 10:26:34 AM

And also the online casino you're using is also registered or they have the permit to operate.

There are casino's that are not registered, why? In some countries they are not focusing with online business entities so they are free of operating and doesn't need a permit to operate but this only applies in some.

Illegal or not we should still abide the rules being set out by the government and we do know the consequences if they do caught us on doing prohibited things but still there are people who do resist and do still play no matter what. Each country do have their own corresponding laws and views towards online bitcoin gambling. Some are on neutral side some do already have strict prohibitions.

Best advice, no one should forget that we are living in a country that has set of rules to make its citizens follow. Being a law abiding citizen will protect you from every means of illegal matters. Just obey the rules and you'll be fine in everything that you are planning to do. If you are living in a country that prohibits bitcoin or gambling, you have to follow the law. There are people who will suggest here of using VPN or what, its your choice but if I'm on that shoe, I won't follow that tip.

MMA

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Quote from: milewilda on February 27, 2018, 04:26:42 PM

Quote from: blockman on February 27, 2018, 04:19:18 PM

Quote from: xhienigat on February 27, 2018, 10:26:34 AM

I think its not illegal to use bitcoin in betting if your country or government doesn't says its illegal to use bitcoin.

It has been answered by others above your post so by negligence of knowing the rule on your country if they banned or it is illegal to gamble with bitcoin or not even with bitcoin, you must be responsible for it.

Quote from: xhienigat on February 27, 2018, 10:26:34 AM

And also the online casino you're using is also registered or they have the permit to operate.

There are casino's that are not registered, why? In some countries they are not focusing with online business entities so they are free of operating and doesn't need a permit to operate but this only applies in some.

Illegal or not we should still abide the rules being set out by the government and we do know the consequences if they do caught us on doing prohibited things but still there are people who do resist and do still play no matter what. Each country do have their own corresponding laws and views towards online bitcoin gambling. Some are on neutral side some do already have strict prohibitions.

But i have seen a lot of people who mostly avoid the rules and regulation that their government have setup. In some countries gambling is totally consider as illegal but still their people are playing gambling not only in casino but also using online gambling site which is now more convenient for them to use for playing gambling as their government cannot get access to them to charge the for their gambling activities.

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