Legal Matter - page 3. | Bitcointalksearch.org

Becky666

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Quote from: Ayiranorea on August 28, 2020, 03:46:19 PM

By now people who are much into gambling and spend on real casinos prefer using the online casinos during this pandemic. This way the online crypto gambling usage have increased alot over the recent months. Very importantly this has been found high in the first world countries. Third world countries are highly regulated for cryptocurrency usage, but local gambling platforms make more fiat money out of the people.

Being an idle man will always attract stuff(easy money) to mankind. During the novel coronavirus pandemic, many families seek for means to sustain their livelihood which turned many of them into doing what can give money. No doubt many gamblers took the bold steps to gamble online for this purpose. So, not an argument that the population of gamblers increased during the pandemic.

Well, not all third world countries are actually been regulated at the moment. Particularly my country which has not yet make any pronouncements either it be illegal or legal. What they did was to cautioned citizens against cryptocurrencies.

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By now people who are much into gambling and spend on real casinos prefer using the online casinos during this pandemic. This way the online crypto gambling usage have increased alot over the recent months. Very importantly this has been found high in the first world countries. Third world countries are highly regulated for cryptocurrency usage, but local gambling platforms make more fiat money out of the people.

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Quote from: Twentyonepaylots on August 28, 2020, 02:17:57 PM

Quote from: dothebeats on August 27, 2020, 01:35:50 PM

There is money to be made in legalizing online gambling, but remember that physical casinos are one of the main reasons why the United States are frequented by people, especially in Las Vegas, and there's more money in there compared to online gambling.

Gambling is money in all sources. In Las Vegas, there are 200+ casinos that is operating legally, not to include the underground ones so this probably would take up to 250+. From a news that was dated last year, Las Vegas reported to have a revenue of $22 billion, highest so far that they ever made. Now we can't be sure if physical casinos are more active than online gambling coz we know how hard it is for physical casinos right now to operate because of the pandemic.

Pandemic may have dented the profits of the physical casino but all the money is transferred to the online casino and gambling houses. Even after the pandemic, many people will prefer to play online and may not return to the physical gambling.
Legal matter mostly apply on physical casino as you can run an online casino anonymously.

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Quote from: dothebeats on August 27, 2020, 01:35:50 PM

There is money to be made in legalizing online gambling, but remember that physical casinos are one of the main reasons why the United States are frequented by people, especially in Las Vegas, and there's more money in there compared to online gambling.

Gambling is money in all sources. In Las Vegas, there are 200+ casinos that is operating legally, not to include the underground ones so this probably would take up to 250+. From a news that was dated last year, Las Vegas reported to have a revenue of $22 billion, highest so far that they ever made. Now we can't be sure if physical casinos are more active than online gambling coz we know how hard it is for physical casinos right now to operate because of the pandemic.

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Quote from: avikz on August 27, 2020, 10:48:49 AM

Yes, online gambling is banned in US and that's why a lot of casinos don't accept US players or any traffic from US. It wasn't the case before 2006 before online gambling enforcement act came into picture. I believe the reason for such law is the offline casino owners. They have a very powerful lobby in US and government earns billions in revenue from such casino owners. It's simple that the offline casino owners see online gambling as a threat to their business in a way banks see cryptos asa threat to their business.

Online gambling market will definitely explode if US government lifts the ban but it doesn't seem to be happening anytime soon simply because the offline gambling lobby is too strong!

I find this to be odd, after all physical casinos have so much power and money that they could have easily created their own online casinos and take over the US market with no problem, why they decided that they preferred online gambling to be illegal? After all I'm pretty sure that US citizens are gambling more than ever online and they are not receiving a dime out of it while some other people are making a fortune and they have their huge casinos completely devoid of clients because of the pandemic.

If this is what happened then to me this is a clear case of a whole industry boycotting themselves and they should consider to change their decision before it is too late and they have to face bankruptcy in the near future.

johhnyUA

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Quote from: Vaculin on August 27, 2020, 06:55:40 PM

I think what he is only emphasizing is, what if the casino will do an exit scam? That's gonna be a problem for gamblers as they can never recover their money anymore, I guess we can see some cases in the scam accusation boards.

Yeah, i don't know but i didn't think about such case. You're definitely right if we are talking about centralized casino.

But our conversation with people above started from the point where we talked about DEX casinos, which can't be regulated.

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Quote from: Wexnident on August 27, 2020, 08:55:54 PM

Are we talking about Online gambling as a whole? Or Crypto gambling only? Cause if it's the former, then I'm all up to it for the government to make gambling an official legal matter. Heck, create a centralized organization for it to avoid scammy sites that appear and to ensure the rules and laws are enforced properly in each country.
-

Exactly I was thinkin'. Besides, I don't see any convincing reasons for the government to stop it. As it is not something that they can just put their hands on, when gambling was always been for entertainment Undecided

. Howbeit, it would require as mentioned, multiple requirements to an extent of revealing your entire being to the authorities which everyone won't even be taken with.

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Quote from: fiulpro on August 27, 2020, 08:34:48 AM

Let me list 5 countries where the Online Gambling is legal and flourishing :

UK
Japan
Germany
Spain France

source

Honestly I expected to Find more of them.

I would like to quote something in regards to US:

Quote

It is never legal to gamble on a website based in the United States. Also, if you are planning to operate an online gambling site, stay outside of the United States. You must also deal only with casino and poker wagers (not sports bets) from people in the US. ... Accepting online gambling advertising is also illegal.

Now the question is : Why should it be legal?
-Better handling of scammers
-Protection for people
-It does bring good revenues for the government
-healthy restrictions regarding age and addictions

Now the people are going to do it anyways they cannot control that part , what they can do is discuss the terms and conditions and create a safe environment.

What do you guys think?
Should the government allow it more openly?

I can't understand your logic? How can gambling protect people when its the source for people getting bankrupt? Second of all, it's not a restriction at all for addictions, it can also get you addicted and spend to much without you noticing it.
That's why it's best gamble if you absolutely know the risk or have allocated an enough amount for you to play and enjoy.

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Quote from: serjent05 on August 28, 2020, 05:08:26 AM

Quote from: fiulpro on August 27, 2020, 08:34:48 AM

What do you guys think?
Should the government allow it more openly?

I believe that the government should allow gambling openly to take advantage of it especially the taxes.

It should not be a case to a country where people can easily get addicted, that's the reason why there are countries who ban gambling, in addition, we can also consider that some countries value their religion a lot and some religion especially Islam considered gambling is a sin or forbidden, correct me if I'm wrong.

Quote from: serjent05 on August 28, 2020, 05:08:26 AM

In my country, gambling industry had contributed a great sum in building infrastructure and giving aid to those who are in need. They also sponsor several charities. Gambling Industry maybe frowned upon by some groups but it does help more in terms of assisting those in needs than any religious group.

That's great.. but just like what I have mentioned, not everyone is open for gambling and they can still survive as they can get revenue from other industry.

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Quote from: fiulpro on August 27, 2020, 08:34:48 AM

What do you guys think?
Should the government allow it more openly?

I believe that the government should allow gambling openly to take advantage of it especially the taxes. In my country, gambling industry had contributed a great sum in building infrastructure and giving aid to those who are in need. They also sponsor several charities. Gambling Industry maybe frowned upon by some groups but it does help more in terms of assisting those in needs than any religious group.

Janation

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Quote from: fiulpro on August 27, 2020, 08:34:48 AM

Should the government allow it more openly?

I guess this depends on the country.

I will not go against the government if they will be making this decision the problem is that I don't think it will be as popular as other country's. Most of the bets happening here is in cockfighting, local sports, there are some casinos and usually, the gambling that are happening here are just between people. When there are dead people, they are letting the people gamble there but the government are getting nothing out of it.

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So, in those 5 countries, it's legal to gamble on betting sites, or it's legal to gamble with your funds on any sites?

What exactly does the laws define as gambling. I think this is one of the easiest ways to know if they understand what they are talking about.

Sanitough

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Quote from: maydna on August 27, 2020, 10:57:34 PM

It is difficult to make gambling legal, especially in a country which is not allow gambling.

It's only not difficult but it's impossible, it's already the government making declaration as gambling is illegal, so there's nothing to do unless they change their stand.

Quote from: maydna on August 27, 2020, 10:57:34 PM

But we see that gambling is allowed in some countries, and gambling contributes by giving taxes to the government. The government can make gambling legal, but the government needs to make some regulations related to gamblers' ages because the kids can play gambling without their parents know. However, that is no guarantee that the kids can't play gambling secretly.

I agree with the @OP about opening gambling, but with terms and conditions, only adult people can play gambling. But still, when it comes to online gambling, it will not easy as the kids can visit on the gambling site anytime they want.

You explained everything that is needed, there's always that restriction when a gambling site or casino is legalized and they need to strictly comply or follow it, and that includes not allowing minors to gamble, and one way to prevent that is by requiring KYC to all gamblers who like to sign up for an account.

However, does the crypto enthusiast people would like this? Knowing crypto is suppose to be for anonymity or privacy.

can we still enjoy the anonymous gambling?

plvbob0070

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Quote from: MCobian on August 27, 2020, 07:42:33 PM

I am one of those who support online gambling, it should be legal, because there are many positive things that can be obtained.
At least it can reduce the number scammers who are increasingly right now, and most importantly the government must get
a large tax. But there are still many countries who consider it online gambling is an illegal activity, and it's very sad for me. But
fortunately there is a bitcointalk forum that can provide good reviews regarding online gambling.

Of course, we also support online gambling since we are also gambling online. Making online gambling legal will really bring taxes to the government and will make it easier for gamblers to play but it also has its cons that's probably stopping some governments in legalizing it.

Though my country also has restrictions with online gambling, good thing that I can still gamble even with crypto which still gives me enough freedom when gambling online.

Fundamentals Of

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Quote from: johhnyUA on August 27, 2020, 06:50:15 PM

Quote from: stadus on August 27, 2020, 06:35:10 PM

We should be aware of that, first thing we look at on a casino when we are gambling is their license, if they don't have, that's when we have to manage the risk carefully as we can never go after our money once they go dark.

Dude, there is no problem of casino without a license, there is a big problem about people who getting mad about gambling, so illegal casinos will be the only solution for them after all other will reject them (due to limit)

Then everything is in fact a problem with casinos without licenses.

1. If the casino is operating without a license, it is going to be illegal. And if it is illegal, the gamblers playing in it are also violating the law. Therefore they could be raided and the operators as well as the gamblers will be arrested and cases will be subsequently filed against them.

2. If the casino is illegal, it may also turn out a scam and the gamblers who are the victims might not have their funds refunded to them due to the lack of accountability from an unregistered casino.

3. If the casino is not operating with a license, it is not regulated and therefore it may allow illegal gamblers. Those who are laundering money, blacklisted in legal casinos, minors, etc.

4. If the casino is illegal, it is not paying taxes and therefore not in any way contributing to the community.

5. If the casino is illegal, their games may not be fair as they are not regularly audited and checked by the proper authorities.

There are just so many reasons why illegal casinos should be avoided and reported to authorities.

maydna

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It is difficult to make gambling legal, especially in a country which is not allow gambling. But we see that gambling is allowed in some countries, and gambling contributes by giving taxes to the government. The government can make gambling legal, but the government needs to make some regulations related to gamblers' ages because the kids can play gambling without their parents know. However, that is no guarantee that the kids can't play gambling secretly.

I agree with the @OP about opening gambling, but with terms and conditions, only adult people can play gambling. But still, when it comes to online gambling, it will not easy as the kids can visit on the gambling site anytime they want.

crwth

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There are a lot of reasons why gambling should be legalized and a lot of reasons as well not to. First of all, know "why it is banned" in the first place.

You are taking money from stupidity and greed.
Addictive to people. It will cause more losses than wins, and it would affect the person
Possible criminal activities can occur

Some governments take these things seriously and would honestly take the chance to have a better environment without gambling. So it still depends on where you are and how it's going to be in your country, but there are a lot of pros and cons when it comes to that, and the ending is always for the decision on the government.

Wexnident

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Are we talking about Online gambling as a whole? Or Crypto gambling only? Cause if it's the former, then I'm all up to it for the government to make gambling an official legal matter. Heck, create a centralized organization for it to avoid scammy sites that appear and to ensure the rules and laws are enforced properly in each country.

Ofc, if it was the crypto gambling part, well, they'd have to start letting people play for themselves. It's like separating the two sides of "we help you secure your funds and bets, but you also have to help us in doing that by giving us the information we require" and the " we don't help you, you don't help us, it's a matter of BUSINESS, a matter of PROFIT". I just hope the government stop themselves from being the control freaks they are though tbh, since a business relationship between customer and user is perfectly plausible if implemented properly.

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Quote from: fiulpro on August 27, 2020, 08:34:48 AM

Honestly I expected to Find more of them.

Haven't seen ours on the list so,
I would like to add that here in the Philippines it is also Legal to run an Online Casino as long as it is registered:

Philippines

Edit:

To add, as for the OP, I think it will depends on the country or it's government, besides these casinos is also a large payers of taxes, so if they run it online, the governments won't have a way to get their taxes and will be hard to tell on how much these casinos are earning (JMO)

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Quote from: Hippocrypto on August 27, 2020, 07:58:31 PM

Of course bitcointalk is a great help for all gamblers who seeks good attention towards promoting every community. About it's legality, well that depends on government concern because that's too controversial due to several factors. Many politicians will oppose to a gambling operation specially when it affects every individual. Virtualized gambling is a good alternative instead of physical one in order to minimize addiction, as it will be more optional compared to traditional betting.

On point, legalization will depend on both parties if the government demand or initiate then that leave no choice for a gambling business to operate. If the gambling party wanted to initiate to legal their operations then government mandate will going to follow.

In general any kind of business under goes operation will be needing an permit to operate and are sacntions to penalty when there are violations to be made. This is a way that both parties will benefit in the process.

Topic: Legal Matter - page 3. (Read 617 times)