Topic: bitcoins and gambaling in UK (Read 2811 times)
Hi, Most of the gambling lover prefer to use their crypto while playing online games. I also use my crypto at https://www.casinoslots.co.nz/ when I need to fund transfer during my games. It's a really big relief when you don't have enough cash to play more.
If you're wondering about the legality of gambling and using crypto in the UK, you'll be glad to know that as a jurisdiction the UK Gambling Commission certainly does recognise Bitcoin as a legitimate form of gambling currency.
Yes, you could easily get away with registering and licensing from a variety of other jurisdictions like Costa Rica, as suggested by others, but if you're setting up a business and are inclined to go with regulation and reputation, a license from the UK GC jurisdiction is worth far, far more than that of say, Costa Rica.
Yes, you could easily get away with registering and licensing from a variety of other jurisdictions like Costa Rica, as suggested by others, but if you're setting up a business and are inclined to go with regulation and reputation, a license from the UK GC jurisdiction is worth far, far more than that of say, Costa Rica.
Maybe in some countries there are different rules about the prohibition of gambling both real and via online, although gambling in the country where i live is prohibited by the government but the fact that i can still access gambling via online until now i never get serious problems with online gambling
Gambling is a very lucrative business and since you want to do it online then you would have a bigger market to work with, although it is likewise a very competitive market. You need a good promotion strategies to establish loyal members who have the money to burn. In fact, we already have many successful gambling-based ICOs recently and they raked in millions of dollars for their business. You can also look at introducing your own ICO later.
As to legality, I am not familiar with the laws of UK but am sure there are already regulations establish for this business. You just need to make some research and talk to a qualified corporate lawyer so you will not have any legal problem later. Here in my country, an online gambling site can be illegal without the franchise granted by the government.
As to legality, I am not familiar with the laws of UK but am sure there are already regulations establish for this business. You just need to make some research and talk to a qualified corporate lawyer so you will not have any legal problem later. Here in my country, an online gambling site can be illegal without the franchise granted by the government.
I know that today appear casinos which use bitcoins. However, the most people and I would rather play something like Playojo casino instead of these too new things that could be unreliable.
i have heard about that there are some shops in UK who are accepting bitcoin for shopping and there are also so many casino where people are using bitcoins. so we can say that the users of bitcoin in May no not be less than any other country.
i have no personal experience because i never visited UK but i have heard from my friends that in UK there are casino where people are dong gambling using bitcoin. i think there will casino in other countries who will also bitcoin in casino.
That would be actually cool,for people living in UK.In my country it is forbidden to play at live casino,but there is nothing said about online gambling,
so well i just do this ;P
i have no personal experience because i never visited UK but i have heard from my friends that in UK there are casino where people are dong gambling using bitcoin. i think there will casino in other countries who will also bitcoin in casino.
Yeah,i've been wondering also how is it about with making online casino.
You need to have all of the permissions of course,but do you need something else for real?
im not really into it
You need to have all of the permissions of course,but do you need something else for real?
im not really into it
bitcoin and gambling are two wheel of a cycle. one cannot move with out the other. so we can say that most of the gambler now using bitcoin for gambling.
I think the UK is quite strict when it come to the gambling side of Crypto, there are numerous sites which you cannot join if you are based in the UK unless you get a license, I'm not sure of the requirements need to obtain a license but I would imagine it would be quite stringent.
Good luck though, it would be great to have a legit UK site that would offer some horse racing etc, similar to that of the paddy power's, bet365 and so on.
Good luck though, it would be great to have a legit UK site that would offer some horse racing etc, similar to that of the paddy power's, bet365 and so on.
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I think you need to see a bitcoin attorney one-on-one.
Do a Google search on getting a UK attorney and you will be in good hands.
Do a Google search on getting a UK attorney and you will be in good hands.
Does anyone know how compliant the classic bitcoin gambling sites are? I'd guess some of them are so old that there wasn't any regulation at the time and they carried on. But there must be alot of money on the line to continue risking it.
Personally, I think it would be a good idea to worry about these things, 5 - 1year after you've actually tested the idea and started making profits (if you do).
Don't let this issue become a road block.
Your question: Yes, you would need a gambling license if you're operating serving UK customers. It shouldn't cost you more than 1k yearly.
Because of the lack of regulation in this jurisdiction, it doesn’t appear on the white-list of the United Kingdom Gambling Commission. As such, gambling sites based in Costa Rica cannot market their services to UK residents.
Lets look at this properly. FortuneJack is licensed in Cosa Rica, as a UK consumer, I'm still able to use their services. This might be the step to take.
This also applies to:
> satoshiDice that's licensed in Costa Rica
> bustabit that's licensed in Costa Rica
> Many more ...
- to read -
> Setting up a BitCoin Casino from Costa Rica
> Bitcoin gambling license jurisdictions
Quote from: [redacted @ 2-jan-2023
on March 22, 2015]Contrary to this some lawyers argue that having a website available in a country and accepting users from that country means a business is operating in that country even if that businesses servers and licence are not located there.
Attempts by politicians, media and local gambling operators to paint offshore sites as unlicensed law breakers are self serving and meant to protect incumbents and tax revenu. Just because a company is not separately licensed in every nation in the world does not make them unlicensed if they have a licence to offer their product globally from their home jurisdiction.
Low taxing international centers for online gambling licences include Alderney, The Northern Territory in Australia, Curacao, The Isle of Man, Gibraltar, Malta and The Philippines. The main centers for the bitcoin gambling industry are Costa Rica, Panama and Eastern Europe/Russia.
Attempts by politicians, media and local gambling operators to paint offshore sites as unlicensed law breakers are self serving and meant to protect incumbents and tax revenu. Just because a company is not separately licensed in every nation in the world does not make them unlicensed if they have a licence to offer their product globally from their home jurisdiction.
Low taxing international centers for online gambling licences include Alderney, The Northern Territory in Australia, Curacao, The Isle of Man, Gibraltar, Malta and The Philippines. The main centers for the bitcoin gambling industry are Costa Rica, Panama and Eastern Europe/Russia.
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Advice: Buy a Top Level Domain such as .com (you should use .ru or a domain that is specific to the countries listed below). Setup a Web-host/VPS server located in Costa Rica, Panama or Eastern Europe/Russia, then purchase a gambling license from the country where your web-host/servers are located. Done.
Note: I think this should be pinned somewhere.
Does anyone know how compliant the classic bitcoin gambling sites are? I'd guess some of them are so old that there wasn't any regulation at the time and they carried on. But there must be alot of money on the line to continue risking it.
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The bitcoin or the gambling?
There's a gambling overview here - http://online.casinocity.com/jurisdictions/alderney/
Looks pretty darned busy.
I think the bitcoin idea was shut down by Guernsey who they're economically linked with. They wanted to do something with physical coins.
There's a gambling overview here - http://online.casinocity.com/jurisdictions/alderney/
Looks pretty darned busy.
I think the bitcoin idea was shut down by Guernsey who they're economically linked with. They wanted to do something with physical coins.
Thanks for the link, I am still looking to do this, but it is not easy, so many hoops!
I too have seen some sites just disappear, I'm guessing due to not forfilling requirements, if "they" are cracking down in it now, we will see more go!
The bitcoin or the gambling?
There's a gambling overview here - http://online.casinocity.com/jurisdictions/alderney/
Looks pretty darned busy.
I think the bitcoin idea was shut down by Guernsey who they're economically linked with. They wanted to do something with physical coins.
There's a gambling overview here - http://online.casinocity.com/jurisdictions/alderney/
Looks pretty darned busy.
I think the bitcoin idea was shut down by Guernsey who they're economically linked with. They wanted to do something with physical coins.
Go to Alderney? I've read that they wanted to turn it into a gambling hub. I dunno if they ever did https://www.gamblingcontrol.org/
They were also talking about bitcoin. It's got to be a simpler process there than the UK. There's only a couple thousand people.
They were also talking about bitcoin. It's got to be a simpler process there than the UK. There's only a couple thousand people.
Are there any more (updated) informations about that?
Go to Alderney? I've read that they wanted to turn it into a gambling hub. I dunno if they ever did https://www.gamblingcontrol.org/
They were also talking about bitcoin. It's got to be a simpler process there than the UK. There's only a couple thousand people.
They were also talking about bitcoin. It's got to be a simpler process there than the UK. There's only a couple thousand people.
Seems like a couple other bitcoin poker sites have gone down recently. If you could jump through all the hurdles involved with finance and gambling regulations in the UK you could go far. You'd have to be careful of your US player base as well, because their authorities are rather renown for overreaching. A lot of previous online casinos had front companies in places like Gibraltar, Cyprus and other places with more lenient accounting.
Thinking of adding to my growing portfolio of projects by creating a gambling site, I have no idea where it stands in the eyes of "the law" It is not a currency (IMO) and does not link to a bank account, so do I need a gambling license? how are so many sites popping up?
I have done some light investigation and it's such a grey area, many people seem to think one can just up a scrypt to a server, and presto!
Are there any UK lawyers around to help me draw up a plan? I mean real lawyers, someone I can physically see, not a PM saying I can write a legal plan for X coins lol.
do I need to be an actual business?
This is a serious question and plan, I would like to see it through.
thanks all.
I have done some light investigation and it's such a grey area, many people seem to think one can just up a scrypt to a server, and presto!
Are there any UK lawyers around to help me draw up a plan? I mean real lawyers, someone I can physically see, not a PM saying I can write a legal plan for X coins lol.
do I need to be an actual business?
This is a serious question and plan, I would like to see it through.
thanks all.
You definitely need a licence to operate. I did email the Gambling Commission back in the days with the same question and that's what they told me. Basically they said money and money equivalents are treated the same way.
But don't necessarily give up on the idea, fully regulated UK casino could be pretty appealing, as the winners could enjoy tax free winnings. So it's a question whether you could earn enough to cover the cost of licence.
Thinking of adding to my growing portfolio of projects by creating a gambling site, I have no idea where it stands in the eyes of "the law" It is not a currency (IMO) and does not link to a bank account, so do I need a gambling license? how are so many sites popping up?
I have done some light investigation and it's such a grey area, many people seem to think one can just up a scrypt to a server, and presto!
Are there any UK lawyers around to help me draw up a plan? I mean real lawyers, someone I can physically see, not a PM saying I can write a legal plan for X coins lol.
do I need to be an actual business?
This is a serious question and plan, I would like to see it through.
thanks all.
in some countries gambling site has been banned so for the state gambling sites will be blocked and you will not be able to get the players from that country. I thought you could not ask for permission to make online gambling sites dude. it happened in my country.I have done some light investigation and it's such a grey area, many people seem to think one can just up a scrypt to a server, and presto!
Are there any UK lawyers around to help me draw up a plan? I mean real lawyers, someone I can physically see, not a PM saying I can write a legal plan for X coins lol.
do I need to be an actual business?
This is a serious question and plan, I would like to see it through.
thanks all.
I do not know in your country. I think you can run a gambling site without permission. because in online all free dude ?
Thinking of adding to my growing portfolio of projects by creating a gambling site, I have no idea where it stands in the eyes of "the law" It is not a currency (IMO) and does not link to a bank account, so do I need a gambling license? how are so many sites popping up?
I have done some light investigation and it's such a grey area, many people seem to think one can just up a scrypt to a server, and presto!
Are there any UK lawyers around to help me draw up a plan? I mean real lawyers, someone I can physically see, not a PM saying I can write a legal plan for X coins lol.
do I need to be an actual business?
This is a serious question and plan, I would like to see it through.
thanks all.
I have done some light investigation and it's such a grey area, many people seem to think one can just up a scrypt to a server, and presto!
Are there any UK lawyers around to help me draw up a plan? I mean real lawyers, someone I can physically see, not a PM saying I can write a legal plan for X coins lol.
do I need to be an actual business?
This is a serious question and plan, I would like to see it through.
thanks all.
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