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.
Topic: Wyoming legalized online sports betting - crypto wagers allowed too - page 3. (Read 534 times)
April 15, 2021, 12:26:54 PM
April 15, 2021, 10:51:20 AM
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 12, 2021, 02:47:26 AM
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. 
April 12, 2021, 02:22:41 AM
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.
April 11, 2021, 08:49:27 PM
As Elon said when fiat currency show 0% interest only a fool won't look elsewhere and for the Wyoming 33rd Governor to legalized cryptocurrency for online sports bet he totally understands the better the integration will give to his state that why he legalized it and if we think about some restriction gamblers experience in the US, I think Wyoming legalized crypto for gambling site a reasonable settlement.
Still the gambling site needs to register in the US to be able to accept bets in cryptocurrencies. As long as the government gets the money they do not have problems with what you do with your money, be it gambling or anything else 
. Need to know more about the situation as many sites restrict players from the US and i do not think this news will make any difference to those restrictions that are imposed but it is a start.
The news will make some difference since the US have the highest number of cryptocurrency users in the world and the legalization of crypto for an online betting site may increase the number of betting site providing service to the US. 
April 11, 2021, 08:44:19 PM
Good news I suppose, it's basically a legalized crypto sportsbook, I don't see any issues here. Even if crypto was reflected via fiat, I doubt it'd pose THAT much of an issue, I just hope that the reflection is accurate with the market price, especially with the volatility that some coins have, though some casinos are already doing it so as long as they don't do it half-assedly, they should be fine.
The state government played it really smart and this isn't as much good news for the community as we think it is. Since they have legalized cryptos, they would expect you to pay taxes on your gambling earnings which wasn't the case before. They wouldn't even wait for you to convert your winnings into fiat, they could simply ask you to pay taxes in cryptos which is another level of centralization.
Wasn't online sports betting always legal in the States as long as the betting company is registered in the US?
I mean, wouldn't their casinos automatically tax them, even if it was crypto-based before? And was there even one before the law was legalized? Wasn't online sports betting always legal in the States as long as the betting company is registered in the US?
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April 11, 2021, 08:25:51 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.
April 11, 2021, 08:05:26 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.
That is good but I wonder if people are going to be able to withdraw their capital in bitcoin and what happens when the capital they want to withdraw is higher than what they deposited in the casino, but overall it is a good news even if it is a news that it is going to benefit only those that live in that state, but this is just the beginning, mainstream adoption is coming and governments all around the world will have to adjust to this reality, if they do not then they are bound to leave a lot of money over the table that they could have gotten in the form of taxes. 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.
April 11, 2021, 07:43:05 PM
Not really a disappointment. If the gamblers can deposit crypto, bet with crypto, and withdraw crypto, it is good enough acceptance of crypto.
I don't think "in lieu of greenbacks" necessarily means the crypto balances are to be computed into fiat. It might simply mean crypto itself could be used for betting rather than converting it to fiat first. The only condition is that the crypto used is convertible to fiat.
But if that phrase means the users are using crypto with built-in fiat computation, I hope it won't be instantly converted by gambling sites. The problem is found right there. The conversion rate might not be fair.
I don't think "in lieu of greenbacks" necessarily means the crypto balances are to be computed into fiat. It might simply mean crypto itself could be used for betting rather than converting it to fiat first. The only condition is that the crypto used is convertible to fiat.
But if that phrase means the users are using crypto with built-in fiat computation, I hope it won't be instantly converted by gambling sites. The problem is found right there. The conversion rate might not be fair.
April 11, 2021, 07:36:29 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.
We have a lot of crypto related casino's that reflected USD so I guess this is non-issue for most of us.
Quite surprising coming from Wyoming, but I guess the governor and his advisors are into crypto so it's a win-win for us. Wonder though which state will be next, as this could really explode crypto related gambling specially if most US states will allow it. And there could be more crypto sites on the horizon because of this news.
April 11, 2021, 07:31:13 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.
This is another great news that uplift Bitcoin's reputation and I seen that demand and adoption would tend to increase in coming days. Because of this, fiat would not be an issue for everybody due to people prefers cryptocurrency instead of using physical money for their betting on several sportsbooks.
April 11, 2021, 07:00:01 PM
As Elon said when fiat currency show 0% interest only a fool won't look elsewhere and for the Wyoming 33rd Governor to legalized cryptocurrency for online sports bet he totally understands the better the integration will give to his state that why he legalized it and if we think about some restriction gamblers experience in the US, I think Wyoming legalized crypto for gambling site a reasonable settlement.
Still the gambling site needs to register in the US to be able to accept bets in cryptocurrencies. As long as the government gets the money they do not have problems with what you do with your money, be it gambling or anything else . Need to know more about the situation as many sites restrict players from the US and i do not think this news will make any difference to those restrictions that are imposed but it is a start.
April 11, 2021, 05:39:22 PM
The state government played it really smart and this isn't as much good news for the community as we think it is. Since they have legalized cryptos, they would expect you to pay taxes on your gambling earnings which wasn't the case before. They wouldn't even wait for you to convert your winnings into fiat, they could simply ask you to pay taxes in cryptos which is another level of centralization.
Wasn't online sports betting always legal in the States as long as the betting company is registered in the US?
Wasn't online sports betting always legal in the States as long as the betting company is registered in the US?
April 11, 2021, 05:34:38 PM
As Elon said when fiat currency show 0% interest only a fool won't look elsewhere and for the Wyoming 33rd Governor to legalized cryptocurrency for online sports bet he totally understands the better the integration will give to his state that why he legalized it and if we think about some restriction gamblers experience in the US, I think Wyoming legalized crypto for gambling site a reasonable settlement.
April 11, 2021, 05:18:15 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.
This could be the start and its good that Wyoming formally legalize the online sports betting using “digital, crypto and virtual currencies”. 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.
Those gamblers who wish to gamble using their cryptocurrency are now free to use it, and it can also be converted into fiat money which can be more easy for gambler to withdraw their funds legally, this is indeed a good news and a step closer for a more States/Country to legalize the usage of cryptocurrency.
April 11, 2021, 05:01:48 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.
This is another great news that uplift Bitcoin's reputation and I seen that demand and adoption would tend to increase in coming days. Because of this, fiat would not be an issue for everybody due to people prefers cryptocurrency instead of using physical money for their betting on several sportsbooks.
April 11, 2021, 04:41:53 PM
I'm not disappointed with this, it's actually a good news and we have to get used that when we talk about government, anything is always paired with fiat. Gambling only makes crypto as a tool in gambling, so it's a great news as it will increase the adoptoin on crypto gambling which is one of the biggest contributor why crypto is more popular now.
Also, this regulation makes gamblers to be confident that their money will not be confiscated anytime, so a green signal when regulatrs accept crypto, maybe they already see the opportunity now.
Also, this regulation makes gamblers to be confident that their money will not be confiscated anytime, so a green signal when regulatrs accept crypto, maybe they already see the opportunity now.
April 11, 2021, 04:23:40 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.
Wow that's a big news for the adoption of cryptocurrencies in the United States. It can be a new step toward the availability of cryptocurrencies in bricks and mortar casinos of North America, but it will also certainly convert some current old school gamblers into crypto ones.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.
Nonetheless I don't think current cryptogamblers will leave their favorite online casinos to register onto US ones, because KYC will still be mandatory despite using cryptocurrencies.
April 11, 2021, 03:29:07 PM
Still good news, unlike some other place that doesn't allow it.
For those gamblers in Wyoming that have been gambling with fiat. They'll start to hear out cryptocurrencies as they gamble with those sportsbooks.
Those who don't want to spend cash and yet they have crypto, it's an ease for them.
For those gamblers in Wyoming that have been gambling with fiat. They'll start to hear out cryptocurrencies as they gamble with those sportsbooks.
Those who don't want to spend cash and yet they have crypto, it's an ease for them.
April 11, 2021, 10:17:09 AM
.....
"so long as those cryptos can be converted to cash"
I didn't understand this part. So does that mean it is still not allowed if the casino doesn't let you convert your crypto to USD?
You just need to deposit in crypto to your account and the exchange will show the equivalent value in USD. They are mandated to do that."so long as those cryptos can be converted to cash"
I didn't understand this part. So does that mean it is still not allowed if the casino doesn't let you convert your crypto to USD?
Quote
That means the casino will have to set up a banking account since it is going to deal with USD and it is not going to be possible to establish a crypto only casino, am i correct?
They can also partner with a third party like Bitpay to handle crypto transactions.Quote
If the casino has a bank account, the government can check the ingoing/outgoing transactions, ask questions etc etc. I guess it is a good thing.
The new law just added online sports gambling and allowed crypto deposits. Not a bad thing to me if you gamble on a casino whose in a jurisdiction that regulates casinos to begin with.Jump to: