That's great, one more casino adopting crypto! And I, personally, don't think that conversion to USD on the account balance is bad, it's actually convenient in a way. If you gamble regularly and don't instantly withdraw all your winnings - it's good to get them fixed to USD, because with rapidly changing BTC price you actually risk losing money while it's on the website.
The gambler can convert their USD into BTC and send it to the exchanges or other wallets to hold or sell at once. Having the conversion to USD will allow us to see how much money we have to make a plan about how much money we will use to gamble. But that will not work if that gambler can not manage his money. We can wait for the next update from that and hopefully, that can also attract many gamblers to back playing on that place. 
Topic: Wyoming legalized online sports betting - crypto wagers allowed too - page 2. (Read 516 times)
April 16, 2021, 10:47:46 PM
April 16, 2021, 10:45:52 PM
In Arizona just this week the governor also signed a bill legalizing sports gambling. More and more states are seeing an opportunity for money to be made and are now doing away with restrictions.
We are in the 21st century and gambling is not a public safety threat so it seems like common sense that they would begin to allow it. The demand is big enough that it is certain to bring in big revenue.
We are in the 21st century and gambling is not a public safety threat so it seems like common sense that they would begin to allow it. The demand is big enough that it is certain to bring in big revenue.
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April 16, 2021, 06:31:01 PM
Wyoming Governor played an important roles by making cryptocurrency part of the currency accepted by the Wyoming online sport betting site because the state will make more revenue through online gsmbling site because the crypto integration will increase the number of traffic for sport betting site within the state.
That is his job anyways,. i would be mad if he wasn't involved because that means that he is wasting the taxpayers money. This will definitely increase the profits in gambling since there are options and people love options, the only problem is whether the gambling houses are going to adopt real fast on this bill.Wyoming Governor played an important roles by making cryptocurrency part of the currency accepted by the Wyoming online sport betting site because the state will make more revenue through online gsmbling site because the crypto integration will increase the number of traffic for sport betting site within the state.
I really think this is a very clear example of why it is going to be impossible to ban bitcoin, the market is worth two trillion dollars and countries are going to want to have some of that economic activity going through them so they can tax that activity, so even if many governments are against it if bitcoin keeps getting bigger then we're going to get more news like this one in which politicians try to revive their local economies with the adoption of bitcoin.
April 16, 2021, 06:18:01 PM
That's great, one more casino adopting crypto! And I, personally, don't think that conversion to USD on the account balance is bad, it's actually convenient in a way. If you gamble regularly and don't instantly withdraw all your winnings - it's good to get them fixed to USD, because with rapidly changing BTC price you actually risk losing money while it's on the website.
April 16, 2021, 05:26:46 PM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
They just want to benefit on the popularity of crypto, as they legalize sports betting, they know that huge money will come from crypto space, so with that, they regulate and they make money at the same time. They cant' control anything that is not owned by the state, but they can always monitor them to comply with the law, especially on correct tax remittance.
Nevertheless, I had like to check what would be the result of this new law and I hope it will affect the cryptocurrency community positively.
April 16, 2021, 05:25:07 PM
Nice, it's always good news to see new jurisdictions open to online gambling and betting. I hope that eventually all US states will follow this example and legalize iGaming.
As for the questions about converting crypto to cash and then back to crypto, I think that would be possible. I'm just stating this from my experience of online casinos that accept bitcoin deposits and withdrawals. I think that you deposit let's say $50 worth of bitcoin or other crypto and those get to you account as $50. You play with the USD and then if you choose to cash out in crypto, you enter the funds, let say you were lucky and need to withdraw $100. In this case, you will receive $100 worth of bitcoin minus fees to your crypto wallet.
I guess it's not the perfect scenario, especially for those who want to play with crypto and want to avoid exchange fees. But it's better than nothing. Anyway, good job Wyoming!
As for the questions about converting crypto to cash and then back to crypto, I think that would be possible. I'm just stating this from my experience of online casinos that accept bitcoin deposits and withdrawals. I think that you deposit let's say $50 worth of bitcoin or other crypto and those get to you account as $50. You play with the USD and then if you choose to cash out in crypto, you enter the funds, let say you were lucky and need to withdraw $100. In this case, you will receive $100 worth of bitcoin minus fees to your crypto wallet.
I guess it's not the perfect scenario, especially for those who want to play with crypto and want to avoid exchange fees. But it's better than nothing. Anyway, good job Wyoming!
April 16, 2021, 04:23:33 PM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
They just want to benefit on the popularity of crypto, as they legalize sports betting, they know that huge money will come from crypto space, so with that, they regulate and they make money at the same time. They cant' control anything that is not owned by the state, but they can always monitor them to comply with the law, especially on correct tax remittance.
Nevertheless, I had like to check what would be the result of this new law and I hope it will affect the cryptocurrency community positively.
April 16, 2021, 04:14:58 PM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
They just want to benefit on the popularity of crypto, as they legalize sports betting, they know that huge money will come from crypto space, so with that, they regulate and they make money at the same time. They cant' control anything that is not owned by the state, but they can always monitor them to comply with the law, especially on correct tax remittance.
I guess that's really unreseasonable, why are they dedudcting from Gross revenue? IMO, it shoudl be in the Net revenue, and if they'll deduct in gross revenue, it should not be 50%, I'm just wondering, are there sports betting business survive in this kind of taxation requirement?
April 16, 2021, 04:08:18 PM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
They just want to benefit on the popularity of crypto, as they legalize sports betting, they know that huge money will come from crypto space, so with that, they regulate and they make money at the same time. They cant' control anything that is not owned by the state, but they can always monitor them to comply with the law, especially on correct tax remittance.
April 16, 2021, 01:25:41 PM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
They just want to benefit on the popularity of crypto, as they legalize sports betting, they know that huge money will come from crypto space, so with that, they regulate and they make money at the same time. They cant' control anything that is not owned by the state, but they can always monitor them to comply with the law, especially on correct tax remittance.
April 16, 2021, 09:43:42 AM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
They just want to benefit on the popularity of crypto, as they legalize sports betting, they know that huge money will come from crypto space, so with that, they regulate and they make money at the same time. They cant' control anything that is not owned by the state, but they can always monitor them to comply with the law, especially on correct tax remittance.
April 16, 2021, 09:34:21 AM
As others said, that is good news for crypto users, especially for gamblers who often use crypto to gamble. I guess the government wants to know who was using crypto to gamble and make a new regulation related to that news. Maybe the government wants to control online sports betting from their State. I think a gambler needs to do KYC on the online sports betting website and I think their bank account will be monitor by the government. I wonder how much the taxes that the gambler should pay regard to that news.
April 16, 2021, 08:53:48 AM
Quote
That "in lieu of greenbacks" means the USD value will be reflected in user's balance correct? That will probably disappoint crypto users there but it still good that they don't have to sell their crypto for fiat themselves so they can gamble on sportsbooks. Some platforms here does that too anyway.
not reflected but converted in fiat .
its useless because you are still gambling with fiat and not by crypto .
there was one gambling site in bitcointalk that do exactly like this ,
you depo crypto and your crypto will be converted to fiat but i forgot if they allow you to withdraw your money in a crypto form but it should be working this way for the idea to be helpful somehow for non crypto and crypto gamblers on that state .
April 16, 2021, 08:30:24 AM
The condition seem not necessary anymore as no one would really use crypto if they can't convert it to cash. As a gambler, using crypto is only a vehicle to gamble easier and retain being anonymous if we want to hide, so this news is really positive as the highligh on this news really is that they are already accepting crypto in sports betting.
April 16, 2021, 08:24:16 AM
This is just one of the earliest steps for crypto to become legally accepted in gambling sites in the US. This is overdue actually. Gambling sites which are registered somewhere outside US territories have been accepting crypto for some time already and yet the US is still prohibiting it. It is about time the US will accept the role of cryptocurrency in gambling. Gamblers want privacy and a certain amount of anonymity. That's something they can get from crypto.
April 16, 2021, 06:24:57 AM
This is good news but I still prefer if websites would accept betting with Bitcoin and other crypto coins instead of converting to fiat.
All betting websites from Wyoming would still requiere from users to pass kyc verification and there is no way to preserve privacy so I would prefer full crypto alternative is possible.
With the first statement of the website there is an open indication that the website will accept the waggers from gamblers in cryptocurrencies which is the very best anyone would wish at the moment. Here is the quote from the website - "Wyoming has legalized online sports betting with a new law that also allows gamblers to place their wagers in crypto". It's a new development for the community that are close to this area and we wish them well as well. All betting websites from Wyoming would still requiere from users to pass kyc verification and there is no way to preserve privacy so I would prefer full crypto alternative is possible.
April 15, 2021, 07:59:02 PM
If you're from that State and you haven't heard this yet,
That "in lieu of greenbacks" means the USD value will be reflected in user's balance correct? That will probably disappoint crypto users there but it still good that they don't have to sell their crypto for fiat themselves so they can gamble on sportsbooks. Some platforms here does that too anyway.
Quote
House bill 133, which the governor signed Monday, lets sportsbooks accept “digital, crypto and virtual currencies” bets in lieu of greenbacks – so long as those cryptos can be converted to cash.
- https://www.coindesk.com/wyoming-accepts-crypto-bets-sports-gamblingThat "in lieu of greenbacks" means the USD value will be reflected in user's balance correct? That will probably disappoint crypto users there but it still good that they don't have to sell their crypto for fiat themselves so they can gamble on sportsbooks. Some platforms here does that too anyway.
Quote
“I think that Wyoming legislators are getting more comfortable with cryptocurrency as the issue evolves in our state,” said state Sen. Jeff Wasserburger
How I wish every lawmaker in every city in every country have this kind of thinking if we have this in every country we will have a fast adoption of Cryptocurrency, we have proven again that gambling is one of the catalysts in Crypto adoption, gambling is a multi-billion dollar industry, and the Cryptocurrency technology is making it's way to gambling and it's taking this industry.
Wyoming passed a new law legalizing online sports betting in Cryptocurrency based states and this is a great idea and example for certain states and will be a boon for it, and I also hope that in my city the leaders have good ideas. like him.
Each of them would have different views towards crypto, some might like it some would not basing up on neither their personal opinions or as a group that had been agreed upon.
So in talks about acceptance and integrations then it all matters to their point of view if it would be beneficial or would be a threat to them.
April 15, 2021, 02:17:49 PM
If you're from that State and you haven't heard this yet,
That "in lieu of greenbacks" means the USD value will be reflected in user's balance correct? That will probably disappoint crypto users there but it still good that they don't have to sell their crypto for fiat themselves so they can gamble on sportsbooks. Some platforms here does that too anyway.
Quote
House bill 133, which the governor signed Monday, lets sportsbooks accept “digital, crypto and virtual currencies” bets in lieu of greenbacks – so long as those cryptos can be converted to cash.
- https://www.coindesk.com/wyoming-accepts-crypto-bets-sports-gamblingThat "in lieu of greenbacks" means the USD value will be reflected in user's balance correct? That will probably disappoint crypto users there but it still good that they don't have to sell their crypto for fiat themselves so they can gamble on sportsbooks. Some platforms here does that too anyway.
Quote
“I think that Wyoming legislators are getting more comfortable with cryptocurrency as the issue evolves in our state,” said state Sen. Jeff Wasserburger
How I wish every lawmaker in every city in every country have this kind of thinking if we have this in every country we will have a fast adoption of Cryptocurrency, we have proven again that gambling is one of the catalysts in Crypto adoption, gambling is a multi-billion dollar industry, and the Cryptocurrency technology is making it's way to gambling and it's taking this industry.
Wyoming passed a new law legalizing online sports betting in Cryptocurrency based states and this is a great idea and example for certain states and will be a boon for it, and I also hope that in my city the leaders have good ideas. like him.
April 15, 2021, 01:55:01 PM
This is a huge step forward to the path that will lead to the institutionalization of crypto gambling too!
Yeah right, more and more crypto gamblers will comes up and make more transactions as legalities are now beingprovided by the state, win win for both sides.
Quote
The market is growing too much too leave the space to crypto gambling platforms only and now incumbents will adjust accordingly.
Implementations up to the next office takers, it should provide intact laws regarding to this to make sure that theflow of this rules will continue.
Quote
Will be interesting to follow how this evolves and, thanks for sharing it as I missed it.
More and more might comes up and good news regarding to crypto usages will be addeded. 
April 15, 2021, 01:36:11 PM
This is a huge step forward to the path that will lead to the institutionalization of crypto gambling too! The market is growing too much too leave the space to crypto gambling platforms only and now incumbents will adjust accordingly. Will be interesting to follow how this evolves and, thanks for sharing it as I missed it.
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