Gambling Should Be Illegal Reddit

In-game spending should be regulated by gambling laws and so-called loot boxes banned entirely for children, MPs say. The industry's UK trade body responded it would 'review these recommendations.
I couldn’t say it any better than Charl did. However, I’d like to add that the EU and US gambling regulators have started to put in some regulations on websites that are blatantly offering skin and item gambling services.

Gambling Should Be Illegal Reddit Streams
Gambling Should Be Illegal Reddit Banned

According to an analysis by H2 gambling capital, the underground gambling industry is worth $196 billion a year.Based on underground sports gambling, illegal casinos and online gambling played behind closed doors, this gigantic sum of money dwarfs the $41.2 billion gambling revenue collected in 2017, which of course provided a hefty lump of tax.

Bitcoin Gambling Taxes Canada : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word 'Bitcoin' are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like 'Buying 100 BTC' or 'Selling my computer for bitcoins' do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation.Continue reading >>

Existing Bitcoin Gambling Vs Funfair Gambling. - Funfairtech

Existing Bitcoin gambling VS Funfair gambling. What advantages does funfair have over current cryptocurrency gambling? There are many different websites I can go to and gamble with bitcoin, how would funfair be any different? It would have to offer a huge advantage for online casinos to switch over to a lesser known coin. Current crypto gambling is using old technology with crypto as the currency. It's no different than a normal online casino except you can pay and be paid in bitcoin, or eth or whatever. You have to trust in the entity providing the gambling service in this case. I don't know about you, but I don't trust some shady ass online casino based in the bahamas with my btc or dollars and I absolutely don't trust them in providing a fair result in the algorithms deciding gambling outcomes. I don't trust them when it comes time to withdraw either. I've heard many horror stories from many people, and you won't have to look far to find them yourself. This is in my opinion, one of the main things that holds online gambling back. Funfair puts the game itself on the blockchain so outcomes are decided and payouts are made in a trustless manner. You can gamble on Funfair's games with full confidence in the odds and the outcomes being fair, the payouts and withdrawals being instant. This is because the entity providing the game has no control over the outcome for the gambler. FunFair is not just a new coin to be used for gambling as your comment seems to suggest you think - that would be pointless. It's a platform for a way of secure, trustless, efficient online gambling that would for the first time enable the player to have full confidence that the game they are playing is fair. You should probably go read the white paper, as you should with ANY project in crypto thatContinue reading >>

Can Someone List Me A Lot Or Your Favorite Bitcoin Casinos? : Bitcoin

Gambling Should Be Illegal Reddit Streams

Starting With Almost Nothing, I Made Almost $500,000 Gambling With Bitcoin. I Then Lost It All In About 60 Seconds. I Am Now $50k In Debt And Will Most Likely Lose My Job, My Visa Status, My Fiancee. Ama. : Iama

EDIT: Thank you all for taking the time to read this. The overwhelming majority of your responses have been very supportive, and I feel that I got a lot of perspective. I am in tears right now, because in my self-loathing state I really did not expect so much positive feedback. I need to come clean to my fiancee, because that is the one variable that I can control. This is a story of luck, hope, greed, despair, stupidity. Over the past 10 days I have gone one a rollercoaster ride of the full spectrum of human emotion. I am trying to live down what happened, and maybe this AMA will help me. I feel this can work both ways too, and I am grateful for any advice I receive. Hopefully also it will help you! I say that I hope my story will help you and I really mean that any of you, because let me start off by saying that I am not a gambler, and I have never even exhibited gambling tendencies before. I am a risktaker and I enjoy new experiences, but I have always considered myself responsible and I have a sound understanding of the maths behind gambling. I know that the house always wins. But after what happened to me, how quickly I got sucked in, how much money I made, and how it all ended just days later, I honestly do not feel that I was fully in control of my actions. If it happened to me, it can happen to you too, and I sincerely hope that after reading this, it never will. Let me give some more specific details, so that you have a more complete picture. I will fill in the rest in response to your questions. EDIT: I ran out of space for proof, please see comments. My name is Bob. I am a grad student in math, living in California1 . I got into Bitcoin as an investment. The last 15 days or so have been extremely tempestuous for Bitcoin, and the events of this AMA coincidedContinue reading >>

Swiss Residents Could Use Referendum To Stop Online Gambling

Swiss Residents Could Use Referendum To Stop Online Gambling 2 Possible referendum could stop online regulation New gambling rules in Switzerland will allow online casinos and poker rooms based within the country to offer their services legally for the first time. While Swiss poker players and gamblers are already able to play online, it is not exactly legal due the Swiss governments unwillingness to regulate these games. Current legislation taxes earnings from sports betting and lotteries, whereas earnings from Swiss casinos are not, under the 1923 Lotteries and Betting Act and the 1998 Gambling Act. The new Money Gaming Act will introduce a tax exemption for winnings under CHF$1m (~US$1.02m) made from sports betting and lotteries. This should even the playing field for gaming industry revenues. However, there is strong opposition to that change. The Senate and House of Representatives, along with the government cabinet, maintain that all winnings must be tax-free. Before Switzerland can offer online poker legally, local internet service providers (ISPs) must block the domains of internationally licensed gambling sites. This hasnt gone down well with ISPs. They claim the government is taxing them with extra work despite receiving no additional funding to cover the costs. If this issue can be resolved, the new online gambling rules should come into play in January 2018. This will also impact poker players looking for live games. Live poker tournaments could soon be organised outside of casino premises for the first time. That is, on the condition that the tournaments remain small-scale. Possible referendum could stop online regulation Not everyone is happy about these rule changes. A voter referendum in Switzerland preventing the new bill is a very real possibility. SwContinue reading >>

Are There Any Online Bitcoin Gambling Sites? : Bitcoin

Is Online Gambling Using Bitcoin Illegal? - Legaladvice

Is online gambling using bitcoin illegal? This pertains to playing poker on sites such as Bovada or AmericasCardRoom. Does the fact that playing with bitcoin instead of legal tender change anything? Would betting or depositing of bitcoins into an account violate Unlawful Internet Gambling Enforcement Act of 2006 or Interstate Wire Act? In my specific instance, would it violate any state laws of Texas or New York? I find this question very difficult to get a reliable answer, because so many answers seem to be given by poker sites themselves. Any comment from someone knowledgeable on the subject would be appreciated. It's gambling. Even if you play with chips, gold bars, or Bitcoin, it's still going to be regulated so long as whatever you're gambling has monetary value. I wager you 100,000 toothpicks that it's gambling no matter what you are gambling with. INAL and not entirely sure but I remember reading a while back that it doesn't matter what the currency is that is being gambled. That could have only pertained to a specific state but I would be surprised if the laws were written so exactly that gambling was legal as long as you don't use US currency. Neither laws make it illegal to play online poker. The UIGEA is mostly concerned with bank transfers between US financial institutions and poker sites. The Wire Act only applies to sports betting. Other than states where online gambling is regulated or prohibited (eg. NJ, WA, NV, DE, etc.), you'll be fine. You should have no issues in TX and NY. Remember to declare your winnings on your tax return. Does the fact that playing with bitcoin instead of legal tender change anything? No. Gambling is illegal when it's done for any 'thing of value', it isn't limited to currency. If you were betting US Dollars, Bitcoin, or Cow HiContinue reading >>

Bitcoin Gambling - Your Opinions : Bitcoin

Is Online Gambling Legal If Bitcoins, Not Dollars, Are At Stake? : Bitcoin

Betting On The Blockchain: Sports Gambling And Bitcoin

Betting on the Blockchain: Sports Gambling and Bitcoin Sports gambling in America is big business. It is also, largely, illegal. According to the National Gambling Impact Study Commission, nearly $400 billion is wagered on sports by United States citizens during a given year, with only $3.5 billion of those bets being placed at legal books in Nevada. With only one state offering legal sports betting, how is it that U.S. citizens are able to gamble so much on games? While a significant portion of illegal gambling is still done in person, the internet has allowed the popularity of the pastime to soar. Widely used sites such as Bovada and 5Dimes that are based outside of U.S. jurisdiction (Canada and Costa Rica, respectively) offer gamblers a way to get in on the action without driving to the desert. But they also come with risks. In 2011, the online gambling world was hit by one of its worst scandals to date. In an event known as Black Friday, the U.S. Department of Justice shut down Full Tilt Poker and PokerStars, two huge online poker sites, and seized over $500 million in player deposits. Customers had to wait a year and four months before a settlement was reached to repay their losses, with the stipulation that they had to contact the Justice Department to claim reparations. With such a huge bust only a few years ago, sports gamblers are wary of keeping too much money online, lest history repeat itself. So far the U.S. has been lax in their enforcement of anti-sports gambling laws, but there is nothing to stop them from cracking down like they did on poker sites. Nonetheless players continue to use the services because they are widely regarded as the only option around. Bender is a gambler. Hes also a Bitcoiner: I was a semi-professional online poker player during thContinue reading >>

21 Best Bitcoin Casinos Reviewed - (bitcoin Gambling Guide 2018)

Gamble with Bitcoin and not with Your Privacy This is especially the case with digital currencies such as bitcoin, which is also responsible for the introduction of provably fair protocols on bitcoin casinos throughout the world. With estimated 2.9 to 5.8 million unique users, Bitcoin popularity as cryptocurrency is growing steadily. Characteristically being a better partner for internet transactions, it is set to change the way we use the internet. Many online casinos are quick to see the unique advantages (discussed below) of being a bitcoin casino and started adding bitcoin to their payment systems. The Numerous advantages of Bitcoin Casinos will change the Gambling World [To fit all in one line, certainty with hashing, security and privacy with anonymity and cheap(almost free) and agile transactions are all possible with casinos that accept bitcoin deposits] It is hard to determine which of these bitcoin casino advantages is the best, as they are all, in an ideal case are all must-haves for every online casino. To start, lets talk about bitcoin transactions. Unlike traditional payment methods, Bitcoin transactions are fast and easy. All you need is a good bitcoin wallet and best bitcoin casino site and you can start playing your bitcoin casino games in minutes. How about almost no transactions fee! Yes!, with bitcoin as a mode of casino deposit, you dont have to worry about 2%-20% of deposit amount as transactions fee (all other traditional payment modes like Paypal, banks, credit cards, wire transfers charge transaction fee). There is no certain percentage of transaction fee, however, small processing charges are involved in bitcoin transactions these days, but no matter how many bitcoins or satoshis you want to deposit, the processing fee range wont cross 10-30ceContinue reading >>

Online Gambling: Is It Even Legal?

It's often called a 'legal grey area' but we take a look at how grey it really is Posted: Mar 25, 2015 5:00 AM ET Last Updated: May 11, 2015 7:00 PM ET In Canada, gambling falls under provincial jurisdiction, but offshore sites don't pay attention to boundaries. Thousands of offshore gaming sites are based in locales such as Gibraltar, the Isle of Man, and Cyprus. (Associated Press) Paul Haavardsrud writes for CBC's western business desk in Calgary. He is also a producer on CBC Radios national business desk where he talks about business on Radio One in the afternoons. Prior to that he worked for newspapers. On Twitter, hes @paulhaavardsrud. Sports betting a billion dollar grey zone: Globe and Mail (Note: CBC does not endorse and is not responsible for the content of external links.) Online gambling is often called a 'legal grey area,' but does that mean Canadians playing a few hands of internet poker in their living rooms should one day expect a SWAT team to crash through the door and seize their laptop? The short answer is no.The longer answer, as might be expected,is less black and white. Whether the issue is offshore gambling sites, file sharing, or Uber, the laws of the land are still taking time to catch up to the complexities of a connected world. Why provinces are so eager to place theirbet on online gambling In Canada, gambling falls under provincial jurisdiction. That much is clear. The greyness stems from the internet, which doesn't pay attention to provincial boundaries. Thousands of offshore gaming sites are based in locales such as Gibraltar, the Isle of Man, and Cyprus, where gambling rules are wide open and governments welcome the tax revenue. As for the legal status of these offshore operators in Canada, Michael Lipton, a lawyer and gaming law expert wiContinue reading >>

License Received: Edgeless Becomes First Legal Blockchain Casino!

Edgeless.io Co-founder, Professional Gambler and Poker Player License received: Edgeless becomes first legal blockchain casino! The Edgeless team is extremely excited to announce a successfully received casino license. Thats a huge step for the entire gambling and blockchain community, because its the first time blockchain base casino is officially approved by legal authorities. This license gives tons of advantages for a casino operator such as: Credibility and authority within the industry In general, working hand in hand with legal authorities and being fully regulated is necessary for the growth of business, especially in areas such as crypto or gambling. Curacao license is a good starting point which enables us to compete with traditional online casinos, however, we are not finished yet. The crypto and gambling field is evolving really fast including legalities. Our legal team will be working on acquiring more licenses in thenear future and strengthening Edgeless legal base. Registration for Edgeless starts on January 8th. (since Edgeless become legally compliant, user registration will require KYC and verification to prevent kids from gambling. Similar process as cryptocurrency exchanges has) New Edgeless version launch is happening in January 18th. Enabled deposits and withdrawals of real EDG Shapeshift integration allowing players to deposit EDG using other cryptocurrencies Edgeless is invited to discussion panel on future of gambling in ICE 2018, London! One of the largest international gaming events!Continue reading >>

Bitcoin Gambling Guide For Newbs - How To Buy, Send & Gamble W/btc

Bitcoin Gambling Guide for Newbs - How to Buy, Send & Gamble w/BTC One of the most appealing features of Bitcoin is that there can be complete anonymity with each transaction. This feature has unfortunately made systems exceptionally intricate, but also very secure. This can turn a lot of people off though, because the process looks daunting. ProfessionalRakeback.com is here to help you by providing a detailed guide on how to set up an account to process all of your bitcoin transactions, for both depositing and withdrawing! This guide will make it easy for you to use bitcoin for online poker, or anything else you care to use it for. There are thousands of merchants who accept it these days! Some of the poker sites that will accept your Bitcoin deposits are Ignition, BetOnline, and Intertops, but these are only a few examples. The way it works is that any bitcoins you place in your account will be converted automatically to USD (fiat). Then you can play your dollar-denominated games like normal, and when its time to request a BTC payout, the USD amount of your withdrawal will be calculated in terms of bitcoins, and that amount of coins will be send you the Bitcoin address you specify. A Step-By-Step Guide to Using Bitcoin For Internet Poker, Sports, Casino (Anything Really) You may have heard of Bitcoins before, you may have even read about them, they probably sounded convoluted to you if you did. On the surface, it sounds complex, but in reality, it is not all that difficult at all. Bitcoin is a revolutionary new way of moving funds all over the Internet, safely, cheaply, quickly, and cost-effectively. Bitcoin is a hybrid type of money and commodity that trades 24/7 on bitcoin exchanges world wide. As one might expect, this is a virtual gift from the gods when it comesContinue reading >>

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