Do you need licence to open up an online Bitcoin Casino? - page 3.

bhadz

hero member

Activity: 2520

Merit: 568

Payment Gateway Allows Recurring Payments

Quote from: Slark on October 29, 2017, 03:54:44 PM

1. There is no need for any license - I know plenty of casinos which are not regulated by any law, license or permit.

It's true, my guess there are casino's that are operating without license from the government. As some countries still not recognizing bitcoin as a currency so there's no need for a business like online casino of registering.

Quote from: Slark on October 29, 2017, 03:54:44 PM

2. If bitcoin casino is licensed then it most likely means they have some pretty useless license obtained from Panama, Cura-Cao or other free-state.

Seems likely.

Quote from: Slark on October 29, 2017, 03:54:44 PM

3. License won't prevent a casino from defrauding money, the owner will be able to run off with the money with no problems if he would want to.

It's just a possibility but for the customers/gamblers license is quite a good assurance for their safety and legitimacy.

LuanX3

hero member

Activity: 756

Merit: 505

Quote from: offlinedragon on November 01, 2017, 07:48:11 AM

Quote from: joebrook on October 29, 2017, 04:10:02 PM

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

I believe that it's basically the same thing it doesn't matter the type of currency people will use to do the gambling as long as it is a casino, you will have to license it and there is no two ways about it.

Yes because one cannot rum casino without special permit from the government and for that he will have to obtain a license. I think that this rules will be there in online casinos because gambling is gambling if offline or online. License is must and there must be rules for all the gamblers to gamble on a specific site as there are rules of gambling offline and in regular casinos. No one can violate the rules and policies of the casino.

The casino software usually does not need a license to use it, if it is a paid script though of course you would need a license from the creator to make use of it. However, if you are asking if a license is needed when operating it from the government then it depends on your laws. However, usually there are better jurisdictions to register your casino like Curacao.

offlinedragon

full member

Activity: 135

Merit: 100

Quote from: joebrook on October 29, 2017, 04:10:02 PM

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

I believe that it's basically the same thing it doesn't matter the type of currency people will use to do the gambling as long as it is a casino, you will have to license it and there is no two ways about it.

Yes because one cannot rum casino without special permit from the government and for that he will have to obtain a license. I think that this rules will be there in online casinos because gambling is gambling if offline or online. License is must and there must be rules for all the gamblers to gamble on a specific site as there are rules of gambling offline and in regular casinos. No one can violate the rules and policies of the casino.

joebrook

sr. member

Activity: 644

Merit: 259

CryptoTalk.Org - Get Paid for every Post!

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

I believe that it's basically the same thing it doesn't matter the type of currency people will use to do the gambling as long as it is a casino, you will have to license it and there is no two ways about it.

Slark

legendary

Activity: 1862

Merit: 1004

1. There is no need for any license - I know plenty of casinos which are not regulated by any law, license or permit.
2. If bitcoin casino is licensed then it most likely means they have some pretty useless license obtained from Panama, Cura-Cao or other free-state.
3. License won't prevent a casino from defrauding money, the owner will be able to run off with the money with no problems if he would want to.

jonatuzc

hero member

Activity: 854

Merit: 501

Quote from: Patatas on October 28, 2017, 06:34:36 AM

Quote from: worldofcoins on October 28, 2017, 06:30:06 AM

Just to let you know virtual currency and cryptocurrency is not the same thing, they are differences between the two, bitcoin is a cryptocurreny.

Correct.To give an example (just for the heck of it) of a virtual currency - Coins that you earn by playing cool math games.

Quote from: worldofcoins on October 28, 2017, 06:30:06 AM

Virtual currency is a simulated currency. Meaning it does not have the properties of money. An example is virtual currencies in games. The supply is controlled by the game company, they decide when to issue more (or sometimes not as bugs create duplication).

Digital currency has all the properties of money, while existing on the internet.

It would be a waste of time and derailing the thread to comment here.

OP,it needs a license should you not choose to operate illegally.Everything else is pretty much dependent on your location and laws.

In my country gambling is a crime so there is no chance for opening a casino in my country because it is the place related to gambling and all the people who want to gamble get together in casino.

I gamble in my local places which the security institutes do not know about because if they informed by some sources they will seal that place and will arrest all the gamblers. Therefore I cannot gamble openly. And the opening of a casino is not possible due to the strict law.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

There are countries who prohibits online gambling, some don't even issue license or permits and if you are caught operating an online gambling site without a valid permit, that will result to jail time, you might even get deported if you are a foreigner. Even if your role is just a support like outsourced support team to answer those tickets opened by clients.

Bitfort

sr. member

Activity: 952

Merit: 339

invest trade and gamble wisely

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

You definitely need it once you turn big (when authorities starts paying attention) ... otherwise you could face a serious legal issues (details depends on your country).
Most of casinos is registered in some "tax paradise countries" (to minimize tax from gambling profits)

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: shata on October 28, 2017, 03:03:22 PM

Quote from: gamybtc on January 07, 2014, 10:53:29 PM

Seriously, you don't need license to operate bitcoin gambling site, because it is a virtual currency, not a real currency.

Sorry but I am not agree with you sir/ma'm. For me, licence is needed in opening an online Bitcoin Casino. Many people want to open up their own on line casino but they can't imagine actually going through all the steps to get one started. Online casinos are being extremely complicated and difficult to open, But this is not as hard as it seems, as long as you follow the guidelines for having licence.

Its not simple to open a casino, licensed casino means that casino is registered and operates under the laws of the state where its registered.
Some countries do not grant licences to foreign casinos, according to their law just casinos located on their territory can have license for online casinos. Some countries allows gambling but just under their surveillance and understand strict conditions.
If you target some area you need to know laws there, in every country is different, and you need to know for whom you are making your casino available.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: shata on October 28, 2017, 03:03:22 PM

Quote from: gamybtc on January 07, 2014, 10:53:29 PM

Seriously, you don't need license to operate bitcoin gambling site, because it is a virtual currency, not a real currency.

Sorry but I am not agree with you sir/ma'm. For me, licence is needed in opening an online Bitcoin Casino. Many people want to open up their own on line casino but they can't imagine actually going through all the steps to get one started. Online casinos are being extremely complicated and difficult to open, But this is not as hard as it seems, as long as you follow the guidelines for having licence.

If we do really need or like to build up casino business then the things that comes into our mind is the legality of such business and i wont really risk to operate with the risk on having the chance on getting in prison because you do violate this is why before tending this thing to be done better to seek out some lawyers first on your country regarding on the legality on such business.

mostkey

sr. member

Activity: 742

Merit: 253

Quote from: shata on October 28, 2017, 03:03:22 PM

Quote from: gamybtc on January 07, 2014, 10:53:29 PM

Seriously, you don't need license to operate bitcoin gambling site, because it is a virtual currency, not a real currency.

Sorry but I am not agree with you sir/ma'm. For me, licence is needed in opening an online Bitcoin Casino. Many people want to open up their own on line casino but they can't imagine actually going through all the steps to get one started. Online casinos are being extremely complicated and difficult to open, But this is not as hard as it seems, as long as you follow the guidelines for having licence.

and it would be safer if we put gambling funds in licensed online casinos, because with that we do not have to worry about losing the funds we will use to gamble, even though this is a gamble but licensing is very important to get, actions that are prohibited by some countries, but as long as it does not harm others there is nothing wrong for us to earn money from there

shata

sr. member

Activity: 547

Merit: 253

Quote from: gamybtc on January 07, 2014, 10:53:29 PM

Seriously, you don't need license to operate bitcoin gambling site, because it is a virtual currency, not a real currency.

Sorry but I am not agree with you sir/ma'm. For me, licence is needed in opening an online Bitcoin Casino. Many people want to open up their own on line casino but they can't imagine actually going through all the steps to get one started. Online casinos are being extremely complicated and difficult to open, But this is not as hard as it seems, as long as you follow the guidelines for having licence.

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

Quote from: worldofcoins on October 28, 2017, 06:30:06 AM

Just to let you know virtual currency and cryptocurrency is not the same thing, they are differences between the two, bitcoin is a cryptocurreny.

Correct.To give an example (just for the heck of it) of a virtual currency - Coins that you earn by playing cool math games.

Quote from: worldofcoins on October 28, 2017, 06:30:06 AM

Virtual currency is a simulated currency. Meaning it does not have the properties of money. An example is virtual currencies in games. The supply is controlled by the game company, they decide when to issue more (or sometimes not as bugs create duplication).

Digital currency has all the properties of money, while existing on the internet.

It would be a waste of time and derailing the thread to comment here.

OP,it needs a license should you not choose to operate illegally.Everything else is pretty much dependent on your location and laws.

worldofcoins

sr. member

Activity: 1820

Merit: 418

Telegram: @worldofcoinss

Quote from: gamybtc on January 07, 2014, 10:53:29 PM

Seriously, you don't need license to operate bitcoin gambling site, because it is a virtual currency, not a real currency.

Just to let you know virtual currency and cryptocurrency is not the same thing, they are differences between the two, bitcoin is a cryptocurreny.

Virtual currency is a simulated currency. Meaning it does not have the properties of money. An example is virtual currencies in games. The supply is controlled by the game company, they decide when to issue more (or sometimes not as bugs create duplication).

Digital currency has all the properties of money, while existing on the internet.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

If your plan of a gambling site is to operate below the radar and focus on just operating within section of the market then you probably won't need to get a license because the amount that would be involved won't be enough to raise an eyebrow. But if the plan is to go mega to compete with established names, there is no way to avoid obtaining a license because that is what will give credibility to the project.

Aside that, mere launching on the forum alone will open the site to a lot of scrutiny and verification in which that licence is key in that without which, the project is dead on arrival and the country of residence will determine the costs involved in obtaining such license.

game-protect

hero member

Activity: 1344

Merit: 507

Why do you want to operate your gambling site from a country that requires a license?

The countries that require a license for gambling for money often require also a license for gambling for valuable things and bitcoin is a valuable thing. But there are several countries where you do not need a license for gambling with valuable things like bitcoin.

Meistro

member

Activity: 105

Merit: 10

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

Not really. Technically all you need is a website and a server. Most of them do get licensed in Curacel or w/e as a marketing gimmick.

mayadin

full member

Activity: 154

Merit: 100

Why not reach out to FunFair, I think they had a business model liek a franchise. not sure though.

seekoin

sr. member

Activity: 586

Merit: 317

Yes, you need even if most of the Bitcoin casino don't have such a licence Undecided

The most friendly countries to get that licence are Costa Rica, Malta and Panama

randelj520

newbie

Activity: 1

Merit: 0

Quote from: tibdraw on January 07, 2014, 04:14:03 PM

Hi Guys,

I was researching the idea to open up an online casino way back (2-3 years ago), that time it needed all sort of licensing from the country it would operate from, how does it work with a bitcoin casino?
some casino software sites claim no licensing needed?

Thanks
pete

yes. u need - read more here about on casexe.com

Topic: Do you need licence to open up an online Bitcoin Casino? - page 3. (Read 2867 times)