Topic: Legal loophole of gambling: Bitcoin VLT? (Read 736 times)
Interesting thoughts
peer to peer transfers and what not are legal is another reason why seal and clubs can get away with it
Poker chips are not real money either, but that didn't stop them arresting foreign CEOs who few into the country.
Antigua recently won a case against the USA for protecting it's markets unfairly and the WTO said they could pirate music/videos/patents legally as compensation.
http://www.usitc.gov/publications/332/journals/online_gambling_dispute.pdf
Antigua recently won a case against the USA for protecting it's markets unfairly and the WTO said they could pirate music/videos/patents legally as compensation.
http://www.usitc.gov/publications/332/journals/online_gambling_dispute.pdf
The current loophole in the US online gaming laws is that "bitcoin is not real money," and therefore sites like SealswithClubs and other online gambling sites are not being targeted right now because of their American users.
As for an in-person setup, perhaps you could treat is as an arcade instead of a casino? That is what Japan does with its Pachinco parlors nowadays.
As for an in-person setup, perhaps you could treat is as an arcade instead of a casino? That is what Japan does with its Pachinco parlors nowadays.
Well what if I were to set up a machine that was connected wirelessly to my own online bitcoin casino? I could say the bitcoin casino is hosted in the Carribean. And so my profit is from this VLT would be considered profit that I'm making in another country. If this there is a flaw in this, can somebody come up with some alternatives? It's interesting to think about..
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