Bitcoin casinos to surge in German market? - page 6.

carlfebz2

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Quote from: dothebeats on August 17, 2020, 02:47:34 PM

This opens a window for crypto casinos to get all those who cannot play with little options that they have left. Imagine how many people in Germany are wanting to play at casinos right now but the option to do so is already taken away, and bank transfers aren't really worth it and viable in the long run due to the fees and the time that it takes for their money to be received on a platform that they wish to play. This can cause a surge on crypto casinos, though I'm certain that the German government would look into these crypto casinos if they find out that this is another route that gamblers took, too.

No doubt with that yet we know that government does really hate when they do saw that their citizens are trying to find another path since they had just banned nor restrict out those online casinos.

It would really be just likely for its citizens to find viable solution or option which would really be ending up with bitcoin or crypto. I wont be surprised if German government will make another step or
procedures on this one knowing that crpyto is totally opposing centralization and i wont be surprised if they would ban this too.

Its just an assumption but most likely it will surely happen if they wont consider the pros of cryptocurrencies.

Ziskinberg

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This is a very positive news for crypto casinos, with this, we can expect more casinos will join the market and that would make crypto casinos to be more competitive to the fiat casinos. Liking that idea that it would result to surge of bitcoin casinos (actually, crypto casinos).

Japinat

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This is actually good for the crypto market, hopefully they'll not ban crypto gambling in their country so we can rip the benefits of this news.

I'm afraid the government will also start to crack down crypto online betting in the country or prevent from people from gambling outside the country.

I know it's kind of complicated as it's not in the government's control anymore, so I guess I'll have to trust the people that they'll find a way to gamble and they can contribute to the adoption in crypto even if they will be evading the law in case it will be illegal in their country to gamble online crypto casinos.

Eternad

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Quote from: PurpleFrog on August 17, 2020, 09:56:41 AM

After the German government banned Visa and Mastercard in casinos in June and PayPal stopped processing online casino transactions because of sanctions last year things are starting to look good for bitcoin casinos in Germany.

What do you think?

If the casino been shutdown for not being authorised like how they shut down the unauthorized Bitcoin ATM last March means that the fight for the illegal or unliscensed of any business in that country is strong. Since Germany didn't ban totally cryptocurrencies, there is a high possibility that casinos can use it as their medium of payment as long as they are legal casinos and have permission to operate. I wonder if they ban also unauthorized foreign blockchain casino in their country.

target

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Its always been in my mind that paypal doesn't allow casinos. I did not know that is processing in Germany.

Quote from: avikz on August 17, 2020, 02:40:30 PM

Quote from: VanityWallets2015 on August 17, 2020, 11:26:03 AM

Based, on the article the government of Germany has imposed these restrictions, for gamblers, to discourage going to illegal casino sites.
It's good that cryptocurrencies are highlighted as new solution to this, but if affiliated with those considered as illegal it might still eliminated by the government.
But if it will be allowed with the regulated casino sites, it will be another huge stepping stone for cryptocurriencies. I hope for the best.

True! If illegal casino owners adopt cryptocurrency just to bypass the regulations, it will earn bad names for cryptos and consumer interests will not be protected. German government may impose some severe punitive measures on the top of the existing legislation.

So even if it looks rosy from the outside but may mot be as rosy as it seems from the inside!

The government will do whatever they need to do. If its the only way for them to collect tax from the casinos that suddenly uses cryptocurrencies, they wil crack them down. But they should also provide a solution like giving them license to operate under crypto law if they have that already since Germany is known to have adopted BTC.

dothebeats

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This opens a window for crypto casinos to get all those who cannot play with little options that they have left. Imagine how many people in Germany are wanting to play at casinos right now but the option to do so is already taken away, and bank transfers aren't really worth it and viable in the long run due to the fees and the time that it takes for their money to be received on a platform that they wish to play. This can cause a surge on crypto casinos, though I'm certain that the German government would look into these crypto casinos if they find out that this is another route that gamblers took, too.

avikz

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Quote from: VanityWallets2015 on August 17, 2020, 11:26:03 AM

Based, on the article the government of Germany has imposed these restrictions, for gamblers, to discourage going to illegal casino sites.
It's good that cryptocurrencies are highlighted as new solution to this, but if affiliated with those considered as illegal it might still eliminated by the government.
But if it will be allowed with the regulated casino sites, it will be another huge stepping stone for cryptocurriencies. I hope for the best.

True! If illegal casino owners adopt cryptocurrency just to bypass the regulations, it will earn bad names for cryptos and consumer interests will not be protected. German government may impose some severe punitive measures on the top of the existing legislation.

So even if it looks rosy from the outside but may mot be as rosy as it seems from the inside!

swogerino

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I think the German market has a big share of world gamblers.I know this when I was working on a 6 month contract there a few years ago.I also know they are very technology oriented people as I worked as a Linux Server Administrator there and I saw a lot of passion from people of different backgrounds for technology.They are also fans of Bitcoin so probably many will switch to online bitcoin casinos and this will be a good move for bitcoin in general.

ShowOff

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I think the online bitcoin casino is an alternative for gambler feeling disillusioned by the government decision. This will be a good thing for gambler as they will have new experience related to gambling and they will soon abandon fiat currency for gambling and crypto gambling will have them play anonymously (if they want to).

Quote from: plvbob0070 on August 17, 2020, 12:50:46 PM

If most gamblers would move to bitcoin, it will only take time for the government to also implement new laws on bitcoin in Germany. I think the regulation is to prevent gamblers from gambling in illegal sites. Instead of avoiding the government's intervention, they should also stop gambling in illegal gambling sites

Regulating anything about the rule is the duty of the government and I believe the German government will soon issue new rule regarding crypto gambling site if the interest in crypto gambling grow.

plvbob0070

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It's good for now but if the reason why gamblers would adopt bitcoin is to avoid government regulations, I think the government could also implement regulation with cryptocurrency.

According to the article provided

Quote

Gamblers are eyeing the use of Bitcoin to avoid government restrictions when the new law is implemented

If most gamblers would move to bitcoin, it will only take time for the government to also implement new laws on bitcoin in Germany. I think the regulation is to prevent gamblers from gambling in illegal sites. Instead of avoiding the government's intervention, they should also stop gambling in illegal gambling sites

mardaed

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If Bitcoin along with other cryptocurrencies will be allowed to be used in casino sites in Germany, this will be a good thing for the entirety of crypto world because demand will rise. Although, I see the dilemma being interfered by the government, their decision would be the determinant if Bitcoin casino will be prospering the country.

Twentyonepaylots

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As far as I know they only have this jurisdiction to avoid being used in illegal transaction with unlicensed online casinos, I mean who's owner of payment processors would want to involve in such crime right? Now there are only selected and trusted casino in Germany that has the right to operate in partner with paypal and Visa. However, if those casinos, the illegal ones, are not going to be shut down then there must be a chance of the users to buy bitcoin as means of gambling. Will bitcoin surge in the Germany? Hmm not as high as you think of, as you need tons of money to increase the price of bitcoin even in 1%.

bitcoinisbest

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Let’s wish that they do not ban using of crypto on the gambling sites else it will be a really big thing. If they allow to use it then this is going to be more power for crypto as many would now have to switch using btc or other crypto for gambling purpose. The market is also big, and more and more people join demand will continue to rise for bitcoin as well.

VanityWallets2015

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Based, on the article the government of Germany has imposed these restrictions, for gamblers, to discourage going to illegal casino sites.
It's good that cryptocurrencies are highlighted as new solution to this, but if affiliated with those considered as illegal it might still eliminated by the government.
But if it will be allowed with the regulated casino sites, it will be another huge stepping stone for cryptocurriencies. I hope for the best.

bitbollo

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this can be a good chance for bitcoin community/casino owner.
However they (German Government) can adopt some limitations to casinos that accep bitcoin/cryptocurrencies. this can be a very risk situation since player could be seen voided their winnings!

PurpleFrog

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After the German government banned Visa and Mastercard in casinos in June and PayPal stopped processing online casino transactions because of sanctions last year things are starting to look good for bitcoin casinos in Germany.

What do you think?

Topic: Bitcoin casinos to surge in German market? - page 6. (Read 863 times)