Bitcoin Forum

Hey folks, first timer here. Got myself some BTCs (low volume lately- related to stock market highs?). Got me thinking. I'm curious if anyone knows the law in the USA about gambling Bitcoins. Like, can I start a Bitcoin lotto? Will a black hood be thrown over my head suddenly and unexpectedly? What's the deal? ???  BTCitGurl

If you do not already have an account at SealsWithClubs and would like to play poker for BTC then let me know and I can get you a code worth 50 free poker chips when you open a new account.

I imagine the various laws that forbid online gambling apply to Bitcoins as well.

I imagined the same Roy7. BurtW, have no idea how to play poker but will keep that in mind thanks.

I imagine though I could start a website where people gamble, I don't know... pictures of their Moms (not nudes for the record). Seeing how the laws haven't quite caught up with Bitcoin, and potentially aren't able to. Just an idea. Not trying to do anything illegal, but will get away with what I can- in the true spirit of Bitcoin.

BTCitGurl

Actually it is a misconception that online poker is illegal in the U.S. There are several legitimate sites that have North American Licenses for Americans to play. If you win you have to file taxes otherwise you're breaking the law. I would also look more into your State laws just to be safe.

I highly recommend SealswithClubs pokeroom for Bitcoin poker. I've been playing on there and won a couple freerolls it's a lot of fun. I would think that if it was illegal to play games for Bitcoins then it would also be illegal to play arcade games for tickets right? Same principal.

At the present time, I can't imagine gambling with BTC being any more of an illegal activity than gambling with digital fecal matter.  Neither is currently recognized by any authority as having any value no matter what was paid for it.  Government tightly regulates both the analog versions of each in the form of waste water and currency control.  Gambling with paper currency or analog feces could be asking for the bathroom door to be kicked in by the men in black.

Once (If) the fiat overseers accept BTC based businesses into their regulated fold, BTC gambling will likely come under some scrutiny.  Until that day comes, gamble away your hard won crypto-currency until your eyes bleed or your wallet is empty.

I like the idea of using Bitcoin for poker.  I'm sure any poker players that had funds seized (euphemism for stolen) during one of the US government's raids of Neteller's accounts would agree.  Imagine those tens of millions of dollars of fiat being locked away as BTC offline in an Armory like device.  I know at least one fish's 200x World Series of Poker vacation would have been much more exciting.  Imagine if BTC were the online poker device of choice during the online poker boom a few years back.

Most lotto games are restricted to being state run no matter the stakes.  I'd steer clear of the numbers games in order to avoid the long arm of Uncle Sam in the US.  The only entity allowed to separate a fool from her money in such a way doesn't take too kindly to competition.
  
I am PWI and I like poker.  I do not like regulation and legislation of moral matters.

Hey BurtW, send me the code and I'll sign up on SWC.  I lost my passion for online poker after a couple of Neteller fiascos and the UB/Absolute super-user scandal a few years back.  It's time to revisit the arena.  Thanks in advance.  PWI

Heard something about online gambling laws to change recently.

this this is very cool and a great way around the gambling laws.

Only in Navada. You can be a online poker business, but you have to pay a large licence fee.

Done.

If satoshidice is anything to go by, it's being run by someone from the USA and still running (for more than a year now). Also there's lots of raffles even on this forum. I don't know anything about the legal situation but they don't seem to be actively enforcing anything.

If a person bets toothpicks, or even less valuable, cryptographic figures, and wins lots more toothpicks or cryptographic digits, then are they truly gambling by definition of the law as it applies to financial gambling?
That is the question that needs answering.

If you're a poker player, and you seem to be, you know they will eventually try and take our money. I have yet to play on SWC, but I will soon. Thanks for the referral code Burt.

Many MMORPGs (like World of Warcraft) have virtual currency and you can certainly legally gamble within those games with virtual currency. This is true even though you can buy more virtual currency with fiat currency on eBay, etc.

So if you think of bitcoin as just another virtual currency and all bitcoin transactions are a game you begin to see how laws apply to bitcoin.

Hi Burt -

Can you get me a code?  I'd be very appreciative!

Thanks.

That's not how it works.

You can play on bit777.com , we are 100% legal for the players and have MANY MANY games :) We literally are the Prime bitcoin casino at this moment.

On a serious note, you should read our comments in this thread, we have explained the situation very well: https://bitcointalk.org/index.php?topic=249256.0