Pages:
Author

Topic: Betting in bitcoin is legal or illegal? - page 5. (Read 820 times)

legendary
Activity: 1512
Merit: 1041
February 17, 2018, 03:49:10 AM
#95
If i'm not mistaken there's no rule/law yet in our country about bitcoin gambling. It is not that widely spread yet so governments aren't making any move about it as of now but two of our local exchange site TOS saying it's likely prohibited. The other one even locking up the account together with their btc once they have found out the btc comes from gambling site.
We have very clear law about gambling here in my county and in our religion, but still people  continue playing gambling, may be the reason is that when people become tired of find jobs or do not have enough money to start a business then they are mostly attracted by gambling which they consider as the easiest way of making money, although it is the easiest and shortest way of making money but i think we cannot ignore the fact that it is also the most risky way of making money.
Unfortunately, gambling is just not the easiest way to make money which I really consider to be appalling knowing that some people have this kind of thought when it comes to gambling.

In addition to these, with cryptocurrency, gambling has even been easier to do and get away with, even in places where it may be prohibited, so at the end of it all, I really do not see how those who gamble the crypto way can be nabbed anyway, it is just the mentality some people have with gambling like what you have mentioned, is what really baffles me a lot.
copper member
Activity: 50
Merit: 1
February 16, 2018, 02:13:54 PM
#94
I absolutely love gambling, it is probably my favorite thing to do. But i will never gamble my btc away, that is an investment
full member
Activity: 798
Merit: 109
https://bmy.guide
February 16, 2018, 01:52:31 PM
#93
I don't think it will illegal.
depending on where you live, in my country they 'government' gamble with bitcoin it is illegal and unlawful. But do not worry that many countries are offering bitcoin bets and their governments legalize bitcoin bets and can be used for betting.
Yes sir i agreed with you, it depends upon on which country you are if you think that bitcoin will illegal at your place then also gambling is illegal too..Besides there are some countries now embracing bitcoin and they agreed on using bitcoin as deposit an gambling.
So, i think in betting using bitcoin is not illegal if they recognized bitcoin to their country lets just wait.
sr. member
Activity: 742
Merit: 253
February 16, 2018, 11:31:00 AM
#92
I don't think it will illegal.
depending on where you live, in my country they 'government' gamble with bitcoin it is illegal and unlawful. But do not worry that many countries are offering bitcoin bets and their governments legalize bitcoin bets and can be used for betting.
hero member
Activity: 2996
Merit: 609
February 15, 2018, 03:29:39 PM
#91
If i'm not mistaken there's no rule/law yet in our country about bitcoin gambling. It is not that widely spread yet so governments aren't making any move about it as of now but two of our local exchange site TOS saying it's likely prohibited. The other one even locking up the account together with their btc once they have found out the btc comes from gambling site.
We have very clear law about gambling here in my county and in our religion, but still people  continue playing gambling, may be the reason is that when people become tired of find jobs or do not have enough money to start a business then they are mostly attracted by gambling which they consider as the easiest way of making money, although it is the easiest and shortest way of making money but i think we cannot ignore the fact that it is also the most risky way of making money.
To me i don't see this as a source of income if you have no job because where are you going to get the money you want to bet? Through credit? What if you can't pay that debt? It will go stack and stack if you continue to get a credit but continues to play gamble.
It should not even be considered a source of income and I am sure most of the people who see it as such are even those with very little, and rather than build those little, they keep looking for quick ways to make money until they lose it all.

I even wonder where the whole idea of gambling as a source of income generated from. Also, the legality of gambling totally depends on the place where the gambler is domiciled and if there is any law against gambling itself, I am sure that would apply to crypto gambling as well and not just casino gambling.
We cant still be sure yet government would rather allowed casinos if they would try to choose up between online gambling but if they do tend to accept gambling in the very first place then expected online gambling would be legal or allowed as well which it is entirely depending on which country you do reside in. Idea on making it as a living came from to its players itself since making money on gambling is easy having those hopes on making it as a living can be created.
legendary
Activity: 1176
Merit: 1024
February 15, 2018, 04:37:54 AM
#90
If i'm not mistaken there's no rule/law yet in our country about bitcoin gambling. It is not that widely spread yet so governments aren't making any move about it as of now but two of our local exchange site TOS saying it's likely prohibited. The other one even locking up the account together with their btc once they have found out the btc comes from gambling site.
We have very clear law about gambling here in my county and in our religion, but still people  continue playing gambling, may be the reason is that when people become tired of find jobs or do not have enough money to start a business then they are mostly attracted by gambling which they consider as the easiest way of making money, although it is the easiest and shortest way of making money but i think we cannot ignore the fact that it is also the most risky way of making money.
To me i don't see this as a source of income if you have no job because where are you going to get the money you want to bet? Through credit? What if you can't pay that debt? It will go stack and stack if you continue to get a credit but continues to play gamble.
It should not even be considered a source of income and I am sure most of the people who see it as such are even those with very little, and rather than build those little, they keep looking for quick ways to make money until they lose it all.

I even wonder where the whole idea of gambling as a source of income generated from. Also, the legality of gambling totally depends on the place where the gambler is domiciled and if there is any law against gambling itself, I am sure that would apply to crypto gambling as well and not just casino gambling.
hero member
Activity: 1078
Merit: 514
February 14, 2018, 02:51:31 PM
#89
Take in look such situation. Me and my husband live in Serbia and he is crypto online gambler. We came in Russia few days ago to visit my parents and here all gambling sites where my husband love to play are blocked. Can we call it as illegal gambling? Every country sets own rules to such points, i didn't check, but maybe russian crypto gambling sites do not exist at all.
legendary
Activity: 1372
Merit: 1005
February 14, 2018, 01:59:06 PM
#88
Even in countries where gambling is allowed, bitcoin gambling will certainly require additional rules that may be different from the rules for fiat. All depends on the policies of each country. And do not forget that many countries in the world are banning gambling by any means. In these countries, of course gambling with bitcoin is also not allowed.


If every country banned the all online crypto currency payment acceptance gambling site like US government done on October 2017. May be they are regulated some sites only allowing to participate in the gambling site.
Countries like Vietnam, Thailand and US Las Vegas are having wide range of people having interest on the gambling investment and making more money. Especially these vietnamese people only go for gambling instead of job in high amount.
legendary
Activity: 2842
Merit: 1253
February 14, 2018, 12:10:33 PM
#87
Even in countries where gambling is allowed, bitcoin gambling will certainly require additional rules that may be different from the rules for fiat. All depends on the policies of each country. And do not forget that many countries in the world are banning gambling by any means. In these countries, of course gambling with bitcoin is also not allowed.
Gambling with fiat and gambling with Bitcoin is not same. as you said to play gambling with bitcoin is not legal in many countries but tracking who is playing with bitcoin is not an easy job. why some countries allowed fiat gambling and not allowed BTC gambling means, in fiat gambling they will get income to the governament but no income from BTC gambling.

Finally the BTC gambling is illegal but people don't care why because they think nobody can find them except if anyone submits KYC to any gambling site.

I believe as long as the casino is registered or licenced to operate, anything that is used either fiat currency or Bitcoin will be legal since they are following the regulatory boards guidelines on wagering.  So I guess this  legal or illegal thing depends on which coutry we are thus we cannot generalized thing regarding bitcoin being used in gambling whether it is legal or not.
legendary
Activity: 1316
Merit: 1011
February 14, 2018, 09:19:48 AM
#86
Even in countries where gambling is allowed, bitcoin gambling will certainly require additional rules that may be different from the rules for fiat. All depends on the policies of each country. And do not forget that many countries in the world are banning gambling by any means. In these countries, of course gambling with bitcoin is also not allowed.
Gambling with fiat and gambling with Bitcoin is not same. as you said to play gambling with bitcoin is not legal in many countries but tracking who is playing with bitcoin is not an easy job. why some countries allowed fiat gambling and not allowed BTC gambling means, in fiat gambling they will get income to the governament but no income from BTC gambling.

Finally the BTC gambling is illegal but people don't care why because they think nobody can find them except if anyone submits KYC to any gambling site.
legendary
Activity: 1904
Merit: 1000
February 14, 2018, 07:38:23 AM
#85
Even in countries where gambling is allowed, bitcoin gambling will certainly require additional rules that may be different from the rules for fiat. All depends on the policies of each country. And do not forget that many countries in the world are banning gambling by any means. In these countries, of course gambling with bitcoin is also not allowed.
legendary
Activity: 3542
Merit: 1162
www.Crypto.Games: Multiple coins, multiple games
February 14, 2018, 04:32:26 AM
#84
It's legal one.If the law is not stated anything about this, I am sure it was not a illegal one.Many people attract to gambling due to they will get real money as a winning price. If any gambler had worn atleast 1000$ in a single shot, they will addicted to play gambling at any cost.
Yeah, as long as the law does not give any restriction to gambling, then either in paper currency, or digital currency, there is no reason to consider it illegal, unless otherwise. Also, I really feel one of the bad sides some people have decided to impose on themselves, as gambling even got easier with bitcoin and cryptocurrency is the idea of making money gambling. I hope this won't start giving birth to more addicted gamblers.

a local exchange site prohibiting gambling funds from goig through doesn't really make it illegal. And if gambling online with regular money is very much allowed in most places, i don't think btc gambling will have a different acceptance. Its basically the same with.
The legality at the end all balls down to the gamblers place of residence. If it is illegal in their state, then it is illegal, either fiat or btc. The only difference that comes with bitcoin is that even if it is illegal, you can always stay anonymous, and cash out whenever you want without it being traced to gambling, unless of course, bitcoin or exchanges are now banned in such places.
member
Activity: 332
Merit: 12
February 14, 2018, 03:11:41 AM
#83
I think it is normally legal unless the country in question explicitly sets out a law to make it illegal.
Absolutely it depends. For the countries who are liberal somehow they doesn’t ban gambling and allot public places to their citizen for making casinos there. But as far as some Asian or Middle East countries are concerned, I think for their religion gambling is banned there. Strict punishments have been observed for the individuals who get into this world. Yeah, it differs geographically.
hero member
Activity: 812
Merit: 510
February 14, 2018, 12:24:52 AM
#82
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
member
Activity: 434
Merit: 18
WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
February 13, 2018, 11:00:22 PM
#81
It depends on how you look into this. If you were talking about the law, I do believe that it is illegal.Why it is illegal? Boring stuff like tax, bill, regulation etc. But who cares? Bitcoin is not causing any harm to anybody. In fact, bitcoin helped a lot of people make their life a lot better.  Betting using bitcoin will be at your own risk so you better be careful. In our country, when a bitcoin account is used for betting, they will review it and it is possible that you won't be able to convert btc to cash. You can use other services as an alternative so it won't be a problem.
legendary
Activity: 1456
Merit: 1023
February 13, 2018, 08:41:30 PM
#80
I don't think it will illegal.

It depends where country you live, because some countries banned the use of bitcoin. In some countries they allowed the use of bitcoin but they don't allow gambling.

Bitcoin is not banned but most countries are trying to regulate them to put taxes and make sure they are not using for some illegal activities.

Bitcoin ban is nothing to do with gambling. Online gambling is banned in most of the countries including in my country but still, people play with bitcoins.
hero member
Activity: 2814
Merit: 578
February 13, 2018, 05:44:36 PM
#79
It is legal because if it's not I'm sure government are now looking into it and doing precautions just to eliminate it in the circulation. It is just that bitcoin gambling is not regulated and not supported by the government. What's only illegal is some scam projects that only focus in getting so many investors then after that they will take the money and gone in an instant.
Legality is depending on the country's rule when it comes to something like this. And there are plenty of countries that are earning through the gambling industry so as long as gambling is legal on that country bitcoin gambling can be legal too. But it can be also illegal to those countries that are promoting illegality of gambling and it should be followed by the citizen as well.
Yes it is not depending on the currency you are playing with, but will depend on your country rules and regulations.
There are countries who are allowing gamblers to gamble with they preferred currency and if they are through with they can just exchange it with the casino or whomever wants to take it. Just be keen when you are observing rules and regulations in your country so that you can't fall into something and will result that you are violating such laws. And I noticed that there were people who are asking this thing, I think it's easy to know if bitcoin gambling is illegal to your country.
hero member
Activity: 1820
Merit: 515
★777Coin.com★ Fun BTC Casino
February 13, 2018, 09:43:28 AM
#78
It is only based on which country we are from,if your country banned bitcoin usage then using it for gambling will be illegal.Or some countries banned gambling in their countries if you use bitcoin or any other currency then it will be considered as crime.
But most of the countries didn't banned the bitcoins so it will be no problem if your country allows gambling.
full member
Activity: 602
Merit: 100
February 13, 2018, 08:39:57 AM
#77
It is legal because if it's not I'm sure government are now looking into it and doing precautions just to eliminate it in the circulation. It is just that bitcoin gambling is not regulated and not supported by the government. What's only illegal is some scam projects that only focus in getting so many investors then after that they will take the money and gone in an instant.
Legality is depending on the country's rule when it comes to something like this. And there are plenty of countries that are earning through the gambling industry so as long as gambling is legal on that country bitcoin gambling can be legal too. But it can be also illegal to those countries that are promoting illegality of gambling and it should be followed by the citizen as well.
Yes it is not depending on the currency you are playing with, but will depend on your country rules and regulations.
So far most of the countries that allows bitcoin exchanges also allows bitcoin casino and other gambling site, and since no regulations has been established yet for bitcoin and other cryptos legality of bitcoin depends on how the country support it or not. As far as I know none declares bitcoin gambling as illegal stuff but those scam projects makes bitcoin image illegal to others.
I agree with you, there will be no problem if we are living in a nation wherein bitcoin is legal. We can do whatever we want with our digital asset because it is ours and there is no point calling it illegal.
member
Activity: 252
Merit: 12
February 13, 2018, 07:38:44 AM
#76
You already answered the question yourself, it is not illegal. Though, some countries whom prohibited the activities or use of any cryptocurrency including bitcoin may see it as been illegal. But another good thing is, one can set up a bitcoin casino online or even play online anonymously  because bitcoin usage brings anonymous. It might be difficult for a government of a county to dictate it. Though, there is still a possibility of them finding out.
Pages:
Jump to: