More law changes coming soon in the States regarding gambling - page 2.

Dave1

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Quote from: CryptSafe on November 12, 2024, 05:01:22 PM

I never knew that betting on presidential election was illegal before but hearing it now and comparing the attention it has garnered tells us of the fast and rapid growth the gambling industry is achieving. So far, the last election had many gamblers going home with large wins they could imagine as a result of their bets on it. With this, I can boldly say that gambling has gotten to the point that it paved its way into politics by looking at the possibility of people seeing a better chances of contenders who could win their elections but I am afraid if the process would not result to something never envisaged for in time to come.

Yeah, we thought that it was just regular gambling when betting on the result of the US presidential election, but it looks like they are looking at it differently. Perhaps it's the huge money that it is involved on the US election or maybe states just wanted to have tax those bettors and that's why it is reported that there will be new laws coming soon in the States.

Nevertheless, it could be case to case basis, we all know that gambling is big business now, and now that they have a new President, maybe some powerful individuals can lobbied new laws that will favor online casinos in the United States and not that regulations to curb it down.

CryptSafe

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I never knew that betting on presidential election was illegal before but hearing it now and comparing the attention it has garnered tells us of the fast and rapid growth the gambling industry is achieving. So far, the last election had many gamblers going home with large wins they could imagine as a result of their bets on it. With this, I can boldly say that gambling has gotten to the point that it paved its way into politics by looking at the possibility of people seeing a better chances of contenders who could win their elections but I am afraid if the process would not result to something never envisaged for in time to come.

stompix

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Quote from: KTChampions on November 10, 2024, 04:31:03 PM

I've heard literally the opposite information, but apparently it depends on what country you're from. I heard that after a whale player won tens of millions of dollars on Polymarket (by betting on Trump's victory), the French government immediately became interested in this and wanted to ban this platform and such bets (apparently he's French). In general, I am not surprised by these initiatives in the socialist states of Europe, but still such news irritates me.

It has nothing to do with being socialist, and BTW the current government in France is not socialist, and France is definitely a capitalist country with a free market, the thing is that by law Polymarket is not licensed to operate there, why would they allow it ? Polymarket is a US based company, they have been banned from operating in the US, they have been fined by the CTFC, why would France do otherwise?
Also, the story about that trader is a bit shady, they knew who the guy was, they knew his background, and he had 4 accounts, and he come to an agreement with the platform to not open more and to limit his bets, if you think that's normal, well!

Zoomic

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Quote from: aioc on November 12, 2024, 10:53:12 AM

Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

Trump only speaks about how he will support cryptocurrency, but he never mentioned about online casinos. Although his company has been involved in online casino, we'll have to wait for him to sit at the office and wait if there's going to be changes in the States policy about gambling.
If Trump gives full support to cryptocurrency, he might as well support online gambling, where the use of cryptocurrency is very popular, since he himself profited and comes from the gambling and entertainment business.

It will really be interesting to see how Trump will handle both cryto and gambling regulation. Whether Trump speaks about gambling or not, everyone who knows Trump very well would know that he will be less likely to push restrictive laws against gambling. This is because, Trump has a background in the gambling industry. He understands both the financial and business side of gambling and will likely push laws that will be of benefit to him also. It is not surprising to me to read now about the US government making some gambling options legal. More relaxed laws will be made in favour of the gamblers and the industry and ofcourse the government who would benefit from taxes.

Lucasgabd

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Quote from: aioc on November 12, 2024, 10:53:12 AM

Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

Trump only speaks about how he will support cryptocurrency, but he never mentioned about online casinos. Although his company has been involved in online casino, we'll have to wait for him to sit at the office and wait if there's going to be changes in the States policy about gambling.
If Trump gives full support to cryptocurrency, he might as well support online gambling, where the use of cryptocurrency is very popular, since he himself profited and comes from the gambling and entertainment business.

we probably won't see gambling websites banned wide in the states, I don't think this is coming
even if they ban people will still be able to use it with VPNs and stuff of course but this would be a big hit.
any idea where most of the gambling websites are incorporated?

aioc

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Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

Trump only speaks about how he will support cryptocurrency, but he never mentioned about online casinos. Although his company has been involved in online casino, we'll have to wait for him to sit at the office and wait if there's going to be changes in the States policy about gambling.
If Trump gives full support to cryptocurrency, he might as well support online gambling, where the use of cryptocurrency is very popular, since he himself profited and comes from the gambling and entertainment business.

mv1986

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Quote from: GxSTxV on November 11, 2024, 06:03:26 AM

I actually didn’t know betting on US elections was illegal either since I have seen a lot of crypto casinos offering it as an option so it’s surprising for me because in many places outside the US, I believe it’s legal to bet on all sorts of political events, so I assumed it might be similar in the US this sounds like they might be looking to change that soon if election betting is getting considered for legalisation.
As for the online gambling rules over there it’s pretty interesting. I heard it can be tricky because of state by state laws, which sometimes require people to actually set up their accounts within the state. It’s wild because for many of us setting up an online account is a simple process and you are good to go without needing to visitt a physical location.
The
Would be curious if others know more about the push to expand online gambling options there though. It seems like the laws in the US are always evolving but in very different ways compared to other places.

I think all of us here on Bitcointalk are used to using crypto casinos and some of them operate outside the realm of applicable US law. I don't know for sure, but I think that is how it works as I agree with you that I came across that option several times on various casino websites. I don't even know whether it is officially allowed in my country or not as I have never been dealing with this question. But as I said before if someone would have felt the urge to place a bet on US elections, they could have done it.

lovesmayfamilis

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No matter how legalized gambling is, I would never use someone else's Wi-Fi networks, simply out of a sense of security. And this is the main reason why you should not trust such networks. You are literally opening a window, showing your life, in those moments when you trust your device to be viewed by strangers. However, I am surprised that online gambling is still not legalized in America, since I always assumed otherwise, often reading about the taxes that the government takes on winnings.

Weawant

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Quote from: Dr.Bitcoin_Strange on November 11, 2024, 05:34:15 AM

There are some activities that is illegal that people are gambling all day. It's just this year and because of this US eclection that I got to know that people can actually bet on elections or some political activities. If it was something that was legal before now, I believe it would have been very popular but seems this year election made it to even become legal.

Before now I have seen some gambling been done in electoral activities, although not with the US elections but with others but the truth actually remains that it wasn't prevalent to the point of seeing it as a legal or probably commonly pronounced game to stake in at the casinos so many persons have not been gambling in such but ita a good one that the US election brought to light the fact that we can still gamble on electoral activities and it's not considered illegal just yet.

GxSTxV

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I actually didn’t know betting on US elections was illegal either since I have seen a lot of crypto casinos offering it as an option so it’s surprising for me because in many places outside the US, I believe it’s legal to bet on all sorts of political events, so I assumed it might be similar in the US this sounds like they might be looking to change that soon if election betting is getting considered for legalisation.
As for the online gambling rules over there it’s pretty interesting. I heard it can be tricky because of state by state laws, which sometimes require people to actually set up their accounts within the state. It’s wild because for many of us setting up an online account is a simple process and you are good to go without needing to visitt a physical location.
The
Would be curious if others know more about the push to expand online gambling options there though. It seems like the laws in the US are always evolving but in very different ways compared to other places.

Dr.Bitcoin_Strange

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Quote from: Orpichukwu on November 09, 2024, 05:41:49 PM

Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

If I'm correct, betting on the presidential election or any form of election was illegal but was legalised last month before the presidential election this month, as it was approved by my appeals court as stated in this news.
Election betting is cleared, for now, by U.S. appeals court
Forbes

With the news of how much people have bet on the just concluded election, I never even knew that it was something illegal, just as I read somewhere in this forum that one of those gamblers bet has already been invested if it follows the law.

There are some activities that is illegal that people are gambling all day. It's just this year and because of this US eclection that I got to know that people can actually bet on elections or some political activities. If it was something that was legal before now, I believe it would have been very popular but seems this year election made it to even become legal.

Webetcoins

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Quote from: yahoo62278 on November 10, 2024, 01:56:44 PM

I haven't heard of anything new as of yet, but it's not a shocker they might loosen up the reigns when it comes to online casinos. More money more money more money, isn't that what it's all about anyways? Maybe they can make all casinos legal so us Americans can play wherever we want!!!

Yeah, I don't think they would ban betting on specific events like Presidential race. As you said, it's all about getting more money from the people and that's why all the regulation and shit.

Trump is pro-crypto so I believe something that upsets crypto users is lesser likely to happen now than it was previously. But if gambling is legalized that might be the best outcome given the taxes are not insurmountable.

I was recently reading a case where a casino banned someone from their casino because they are from U.S which makes sense, but man they also denied all the affiliate earnings as well.

tread93

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Quote from: Davidvictorson on November 10, 2024, 05:29:11 AM

Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Was listing to the news during my morning get ready for work routine and they were discussing with the the recent election results, betting on the outcome of the president of the United States is likely to be legalized soon. I forget why, but had no idea it wasn’t legal.

Oh, I didn't know of this. When I made a comment yesterday on the thread narrating how some guy made a lot of money from his bet on the poly market. I had no inclination that it wasn't legal yet although it happened in France.Well if it becomes legalize there's going to be a surge of gamblers accompanied with its addiction. In addition, it will spiral into the election of state governors, mayors , and even on important bills to be passed by Congress.

I thought I read somewhere that they did pass some bill to allow poly market and other betting platforms bet on the US president so maybe they just made it a work around for the time being until they got down to the nitty gritty? Idk. But surely it was legal as it was all over the news and tons of folks in the US are betting or did bet on the US election

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I haven't heard of any general rules regarding betting.

The last thing I've read, which isn't even that recent, was something very specific in which the NBA implemented a new rule to prevent cases similar to that of Jontay Porter, a former Toronto Raptors player who was banned from the league due to his involvement in betting.

During his time with the Canadian team, Porter made 13 bets while he was under a two-way contract that allowed him to also play in the G-League... So, to avoid situations like this, the NBA announced a strategic partnership with bookmakers so that in the 2024/25 season, players with the lowest salaries, including those on two-way or ten-day contracts, will not be available for under bets.

I don't really think this will work, because there are so many betting sites outside the NBA's reach that it will be difficult to control this.

Sandra_hakeem

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Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Was listing to the news during my morning get ready for work routine and they were discussing with the the recent election results, betting on the outcome of the president of the United States is likely to be legalized soon. I forget why, but had no idea it wasn’t legal.

Hold on a second, wagering on odds for/against a gubernatorial candidate isn't legal already??so, why was almost every casino giving out odds to wager on? What's that supposed to mean? That the carucao/ other agencies that ensure licensing don't regulate their laws in line with the governments... I'm just wondering though!

Quote from: stompix on November 10, 2024, 04:23:41 PM

You can still bet with a bookie from outside US jurisdiction if they allow you to do so and you can take a bet while being outside the country, but no bookie regulated by US states would normally allow us citizens to bet on that.

I think I understand exactly where the whole thing sets in... To be honest, when I saw the update about that at first, I was a bit worried on how it may lay in a negative effect; or atleast how manipulated the results would become (even though it doesn't have any direct connection/affiliation)
Edit:

Quote from: yahoo62278 on November 10, 2024, 01:56:44 PM

Maybe they can make all casinos legal so us Americans can play wherever we want!!!

Just keep your head up and watch what's gonna be passed into the state laws next .... lol

mirakal

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I guess regardless if it’s legal or not, there will always be bets that are going to happen everytime US election is happening, most especially if we are talking here the big names in America. That more fuels the interest of the people to focus more on what will be the outcome of the said election.

However, talking about online gambling, while it is legal under the federal law, there are still significant restrictions that all casinos should definitely follow. And as there will be growing number of mobiles and other digital devices, expect that there will also be more online gambling opportunities that will surely arise in the market.

Weawant

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Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Was listing to the news during my morning get ready for work routine and they were discussing with the the recent election results, betting on the outcome of the president of the United States is likely to be legalized soon. I forget why, but had no idea it wasn’t legal.

Apparently there’s also plans in the works to make online gambling much more prevalent. Right now online gambling is very dicey law wise , like for many casinos you have to go set your account up inside the physical casino or at minimum in the parking lot when on their WiFi network lol.

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

Well this things you just mentioned may apply in some regions and not in some others, legalization of the betting on the presidential election is something I never knew is an issue because since it's been permitted on the gambling site I want to believe there's no issues around the fact that it can be gambled on. The experience I know is that most casinos now don't require you to Walk into their casino to register and have an account with them to enable you gamble.

KTChampions

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Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Was listing to the news during my morning get ready for work routine and they were discussing with the the recent election results, betting on the outcome of the president of the United States is likely to be legalized soon. I forget why, but had no idea it wasn’t legal.

Apparently there’s also plans in the works to make online gambling much more prevalent. Right now online gambling is very dicey law wise , like for many casinos you have to go set your account up inside the physical casino or at minimum in the parking lot when on their WiFi network lol.

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

I've heard literally the opposite information, but apparently it depends on what country you're from. I heard that after a whale player won tens of millions of dollars on Polymarket (by betting on Trump's victory), the French government immediately became interested in this and wanted to ban this platform and such bets (apparently he's French). In general, I am not surprised by these initiatives in the socialist states of Europe, but still such news irritates me.

stompix

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Quote from: Slow death on November 10, 2024, 11:19:41 AM

I would honestly be surprised if US lawmakers passed a law banning betting on US elections.

It's not a federal law but betting on elections has been banned by most jurisdictions, even Nevada, in order to bet on a nonsports event that type of event must be first cleared by a commission, and betting on presidential or college votes ended nowhere.
You can still bet with a bookie from outside US jurisdiction if they allow you to do so and you can take a bet while being outside the country, but no bookie regulated by US states would normally allow us citizens to bet on that.

What's really funny is that it's the CTFC that has the final say in this, because it involves speculative contracts on uncertain events by definition, wich is really nuts.

Quote from: Fortify on November 10, 2024, 04:18:39 PM

I have no doubt that Trump will do more to legalize gambling, because it is a huge source of "dirty" money and offers a huge matrix for such funds to enter his private coffers.

You do know he had 4 years last time to do it, right?

Fortify

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Quote from: ChiBitCTy on November 09, 2024, 05:08:34 PM

Was listing to the news during my morning get ready for work routine and they were discussing with the the recent election results, betting on the outcome of the president of the United States is likely to be legalized soon. I forget why, but had no idea it wasn’t legal.

Apparently there’s also plans in the works to make online gambling much more prevalent. Right now online gambling is very dicey law wise , like for many casinos you have to go set your account up inside the physical casino or at minimum in the parking lot when on their WiFi network lol.

Anyways just wondering if anyone else had heard of about these updates and can provide a bit more insight ?

I have no doubt that Trump will do more to legalize gambling, because it is a huge source of "dirty" money and offers a huge matrix for such funds to enter his private coffers. No doubt he has made rich businessmen and associates who will gain greatly from this maneuver. It seems rather odd that he is willing to take some freedoms away, like overturning abortion - while encouraging these so-called sin activities that are meant to be equally frowned upon if you care for the religious interpretation of the bible, the hypocrisy reeks. As others have said, a lot of gambling is already legalized but I think it's controlled at the state level, so it's possible there may be a move to allow it at the federal level (most likely to raise some taxes).

Topic: More law changes coming soon in the States regarding gambling - page 2. (Read 701 times)