Gambling and Bitcoin | Bitcointalksearch.org

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: arvindr on February 26, 2015, 11:41:03 AM

Quote from: thebitcoinquiz.com on February 25, 2015, 10:32:03 AM

You can make a case out of everything and anything here in India, its just that it will take 20years to get that case solved Tongue

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Also I don't think there are enough bitcoin sports book that can handle the amount of bets that are made in India. People wager like 50BTC/2IPL matches with their "local" bookie. I wonder how would the sportsbook handle Indians if most of them come online.

I think yes that would be one limitation, but again , like someone said, the big players would probably not use bitcoin, and mostly don't do so even internationally.
The max you can bet on certain sites to win is around 50 BTC, which is around 12K $ .

It is a question of the market developing.
Once the bets being made using bitcoin become larger, sites will start developing the capability.

arvindr

full member

Activity: 182

Merit: 100

Quote from: thebitcoinquiz.com on February 25, 2015, 10:32:03 AM

You can make a case out of everything and anything here in India, its just that it will take 20years to get that case solved Tongue

.

Also I don't think there are enough bitcoin sports book that can handle the amount of bets that are made in India. People wager like 50BTC/2IPL matches with their "local" bookie. I wonder how would the sportsbook handle Indians if most of them come online.

I think yes that would be one limitation, but again , like someone said, the big players would probably not use bitcoin, and mostly don't do so even internationally.
The max you can bet on certain sites to win is around 50 BTC, which is around 12K $ .

kinnu

sr. member

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Bitcoin gambling is fast and easy there are some sites that accepts paypal or other payment types but there are many rules for deposit and withdraw

thebitcoinquiz.com

sr. member

Activity: 280

Merit: 250

Quote from: arvindr on February 25, 2015, 09:38:44 AM

Quote from: thebitcoinquiz.com on February 25, 2015, 04:34:51 AM

Quote from: arvindr on February 25, 2015, 02:09:46 AM

Quote from: thebitcoinquiz.com on February 24, 2015, 03:17:29 PM

Quote from: arvindr on February 24, 2015, 03:12:54 PM

Quote from: thebitcoinquiz.com on February 21, 2015, 02:50:48 AM

Quote from: polynesia on February 20, 2015, 09:58:44 PM

Quote from: thebitcoinquiz.com on February 20, 2015, 01:51:54 AM

Also I wouldn't like a lot of Indians to jump into the betting thing, cause almost 25-45% of the educated population is involved in IPL betting and if they all jump into bitcoin then don't you think a lot of bitcoiners will go to jail? Because afterall betting is illegal here and a lot of people diving into bitcoin betting would attract the attention of the authorities(authorities which are incharge of controlling betting in India).

If so many people are already into betting, it shouldn't matter if bitcoins are used are not.

But wouldnt this publicize bitcoin in a too bad way in india? we will then have to loose the hope of government supporting bitcoin.

There wouldn't actually be easy for the government to monitor, what exactly are the bitcoins being used for.
Just like purchasing drugs/Gambling and all, the government can't really do much about it

We are more closely monitored than we think we are being done. You cannot hide it from the government(if it wants to do).

I doubt that. They aare not aware of all the btc addresses we have, and almost have no way to find out, the amount we are in possession with.

See if agencies like IB gets attracted here then they can easily find out that who are you and they will know whether you are betting or not by your activities(they can closely monitor activities of big gamblers). Doxing in today's time isn't difficult.

You can dox someone, if you suspect something, and say if you suspect someone to be betting with bitcoin, then maybe yes. But I am sure, they wouldn't be spending the resources to check txns and see if they are generated from Indian IP's and then pursuing each and every such txn to find someone like this.
Plus bitcoin is a grey area, so even if you are gambling with it, would be hard to make a case out of it.