соuld gаmbling with Bitсоin bе соnsidеrеd illеgаl?

Discussion in 'Gambling' started by Goodman, Jul 18, 2016.

  1. Goodman

    Goodman Member

    Joined:
    Jun 30, 2016
    Messages:
    105
    Likes Received:
    16
    аs it's dесеntrаlizеd virtuаl сurrеnсy, соuld gаmbling with it bе illеgаl? оr is thаt аn аrеа thаt саn't pоssibly bе rеgulаtеd (аs yеt)?
     
  2. freetrade

    freetrade Active Member

    Joined:
    Jun 18, 2016
    Messages:
    169
    Likes Received:
    78
    It can be regulated depending of the third parties involved in this specific activity. Conceal your identity is not illegal, so paying with bitcoins is as legal as paying with any other mainstream currency. The only illegal possibility is the source of your money, if you paid with drug or smuggling money using BTC as a way of money laundry. And this could be done even if you are using dollars, rupees or yuans.
     
  3. hades_leae

    hades_leae Active Member

    Joined:
    Jun 21, 2016
    Messages:
    157
    Likes Received:
    31
    I don't see how it could be illegal at all, you don't need identification to buy scratch off in the gas stations or corner store. You don't even need ID to cash out on a $1,000 lottery winning ticket, at least I don't think you do.

    The only way I would work towards making illegal is if it were accepted as payment in a real casinoe because you can go there, and pay with BTC and rack up at poker by counting cards at tables, and the cash out in BTC without ever getting caught, and that is if you don't get caught counting cards.
     
  4. Vinaya

    Vinaya Moderator

    Staff Member
    Joined:
    Jun 20, 2016
    Messages:
    264
    Likes Received:
    60
    As long as gambling is allowed by law, gambling with BTC cannot be termed illegal. In my home country, gambling is illegal, thus, whether you play with with real cash or digital currency, it will be termed illegal act. BTC is not illegal currency, it is not controlled by major financial institutes does not mean BTC is illegal.
     
  5. mauricioq

    mauricioq New Member

    Joined:
    Jul 1, 2016
    Messages:
    26
    Likes Received:
    10
    I highly doubt it will ever be considered illegal. Gambling is legal. Bitcoin is legal. Why should the combination of the two be illegal? BTC is already a fairly well-stabilized currency so I'm sure this won't be a problem in the future.
     
  6. Casiox

    Casiox Moderator

    Staff Member
    Joined:
    Jul 25, 2016
    Messages:
    81
    Likes Received:
    22
    There are many exploiters out there who could take advantage of a game to bug BTC or make some kind of BTC landery, who knows.
     
  7. kingcool52

    kingcool52 New Member

    Joined:
    Aug 13, 2017
    Messages:
    17
    Likes Received:
    0
    I doubt it will ever be illegal, I mean I don't think governments have any power to make gambling with bitcoin illegal in the first place so we probably will never see it happen. Like said above, as long as gambling is legal then gambling with Bitcoin won't become a problem that governments try to sort out. Personally, I would never take part in any gambling that would involve Bitcoin. The biggest problem would be that I doubt any of the big betting/gambling companies that exist now would allow Bitcoins to be used. That would mean new sites would be created specifically for Bitcoin gambling and I just wouldn't be able to trust them to be honest. They could easily rig games and you would end up losing most of your Bitcoins.
     
  8. des7ructo

    des7ructo New Member

    Joined:
    Aug 11, 2017
    Messages:
    16
    Likes Received:
    1
    As other people said, it most likely wouldn't be illegal, cause generally if a gambling is illegal then it would be illegal for every currency, and most likely no one would like to deal with making something as specific as BTC in gambling.
     
  9. wiseagent

    wiseagent Member

    Joined:
    Aug 9, 2017
    Messages:
    45
    Likes Received:
    8
    I totally agree with your point of view. It's impossible to regard these types of bets as illegals because they are, to some extent, borne by the laws.

    However, I wouldn't be surprised if some kind of law was created to get some benefit in this kind of ban involving Bitcoins. To be honest, I can see this happening clearly.
     
  10. oportosanto

    oportosanto Moderator

    Staff Member
    Joined:
    Jun 17, 2016
    Messages:
    222
    Likes Received:
    47
    Yeah, bitcoin is just a currency, so it depends on the casinos to use that currency or not, no government can consider a currency illegal, at least that's what I think. Lawmakers should have bitcoins as well lol.
     
  11. abimbola

    abimbola New Member

    Joined:
    Monday
    Messages:
    10
    Likes Received:
    1
    Bitcoin is an electronic currency. Any gambling site can use any currency either bitcoin, dollars or pounds for their gambling activity. That dollar is used for gambling does not make it illegal, likewise if bitcoin is used for gambling it does not make bitcoin illegal. Any currency used by gamblers does not make the currency illegal, though gambling activity is banned from operating in some countries.
     
  12. wiseagent

    wiseagent Member

    Joined:
    Aug 9, 2017
    Messages:
    45
    Likes Received:
    8
    I hadn't yet considered the association of casinos with bitcoins. But it's something that I see clearly happening very soon without the slightest problem.

    It will certainly be very lucrative and it would be a great way to "dribble" the bureaucracy imposed by governments (depending on each country, of course).
     

Share This Page

Top