Bitcoin Forum

Hello Everyone,

I am a young entrepreneur and I want my niche to be online P2P gambling, with no house edge. I believe this is a system where by provably fair sites can remove some of the stigmas associated with skill-based and chance games, as well as provide educated people (statisticians for example) and long-run method by which to make real returns from their knowledge despite an economy that undervalues their skills (even though they're paid more than the poultry that goes for average these days).

Anyhow, I understand that there are many counterpoints and draw backs from what I have said. We are aware that gambling has ruined lives before. Yet, recently governments (UK, Canada, Italy, etc.) has begun to offer online gaming as a way to generate taxes. Does government ownership of gambling make it more legitimate? Are the government's imposed limits a big difference in when it comes to the application of these devices? Are some governments/regions/jurisdictions more progressive than others?

This conversation is of particular interest to me so thank you for any and all input.

Open Ocean

i think that online gambling should be regulated in some way, now with bitcoin, people feel even more secure to gambling(it sound like an oxymoron) but really it is the true, maybe put a limit on the bet or something?

because many of them can't stop playing until they lose all(and i know how they feel, fortunately i have good selfcontrol), and with bitcoin i find that it is even worse then regular fiat, because they can play with more anonimity

I agree, bitcoin gambling services should be more regulated and taxed. It's not bad enough that many gambling sites ruin lives but they  probably don't even pay taxes or worse they don't have a license to run gambling business. More laws and regulations should be made to control the online gambling to make it safe and better.

You should seriously reconsider that idea.
Bitcoin gambling market seems to be already saturated and P2P is particularly the hardest one to start. Not to mention that there already are P2P betting sites (bitbet.us, peerbet.org and probably few other).


No. If anything it can be the other way around. If gambling is made illegal with exception of government owned entities, then such gambling operators are in monopoly position and don't really have to care about providing fair odds, transparency etc, and are likely protected from any type of control.

I remember heavy rumors, a few years back, about Lotto results being manipulated in Italy and also in Poland (iirc).

Yeah it's all nice in theory but you won't make any money and would most likely soon be broke if house doesn't have an edge. That's why it's called gambling. Yes extra traffic would generate more money, but you would also lose more.

Click the link on the right hand side of my signature for my opinion on gambling.

I am not totally against gambling but I am not for it either...I have had personal experience with gambling where I lost a lot of money before I finally got out of it...anyways in my opinion Gambling should be regulated...also if there is no house edge mate you won't be able to keep the site sustained and might go broke in no time. Advertisements will only bring in so much after all.

Gambling is a huge industry and bitcoin is currently untapped by the mainstream sites. They could actually save a lot of money by accepting or paying out in coins over PayPal and other such money transmitters. As for creating your own site if you can come up with something unique go for it but the market is pretty saturated with run of the mill dice sites and basic casinos at the moment so don't just do another one of them.

Gambling is tax-free in the UK.
A few years ago the UK government got rid of taxes for betting in real life bookies because they couldn't compete with tax-free online gambling sites based in Gibraltar and Jersey. IIRC.
Also,I just lost £20 on the Grand National on Saturday and i didn't pay tax.

I think rather than Govt, Jurisdiction etc. u need to focus on game features. Tell us what Open Ocean can offer over BitDice.me ? As someone else pointed out, gambling is a pretty saturated place now with already established players. Bringing in regulation is not a nice feature in my opinion.

While it is true that we have a lot of services and casinos which let us play online. But I don't think that market is saturated at this point. I think there is plenty of room for new ideas and awesome sites. With good dose of marketing backed by really good service your website will be skyrocketing in no time. I don't trust anybody until I see proofs of bets being fair that means government's  casinos are no exception here, and if government will ensure that private casinos will be illegal I would definitely won't support government's casino but instead will be using unblocked online service.

I believe the US requires Bitcoin to be taxed as an "income" so it's a bit of a grey area if Bitcoin gambling sites are allowed at all. If allowed, any and all sites with a legitimate provably fair gambling system would be in my book as fair. If someone has a gambling problem, that is no one's fault but their own and should be handled by themselves.

Regulated gambling in many jurisdictions is an over-raked, over-taxed monopoly.  For example, most U.S. states have a lottery that rakes (takes away from the potential winnings of the recipients) about 40%
http://www.ncsl.org/research/financial-services-and-commerce/lottery-payouts-and-state-revenue-2010.aspx

That is huge.  And then the winner gets to pay income tax if he wins.

Contrast that with the rake of internet poker sites that can be 2.5% (and even lower for some games), and zero if the hand does not make it to the flop.

In my opinion, it is only competition from the internet gaming sites (and internet poker in particular) that prevents states from taking an even higher percentage.

And internet gambling is helping to provide needed Bitcoin capitalization and liquidity until Bitcoin becomes more popular for other uses.

Gambling sites are regulated quite well. The ones that act unethically or make bad decisions tend to go away very quickly. It is called the market and it works better than any regulatory framework ever could.

Licensing and taxation are pretty much one and the same. Casino owners are subject to tax liabilities in their home jurisdiction. It is their business whether they pay their taxes or not.

Online Gambling is the main application of bitcoin at present, bitcoin is perfect for online gambling.

I think online gambling is not a bad idea, as long as the rules are fair and do not end scam.

Why should they pay taxes huh?

So that rich and greedy politicians get even more rich and greedy? There should be no taxes on gambling. It is a one-to-one business.

i think online gambling is still has room to grow, there is huge amount of money can be generated because gambling is illegal in many country. and most ppl have to go overseas to gamble.

Does government ownership of gambling make it more legitimate?

Do free, independent-minded people believe so?  No
Government ownership/heavy taxation/regulation of gambling does make it more legitimate in the eyes of the police and other Gov't agencies. If you break too many laws, then someday you might pay the price.

i will suggest gambline is just a waste of time play it just for fun not for earning..no martangle and any other stratagy will work

Bitcoin and gambling are a perfect match and go hand in hand in my opinion. Many countries prohibit online gambling so bitcoin is the perfect medium for getting around that. It's also very costly for gambling sites to pay winnings with fees and bitcoin could save them big time on this.


You might not pay tax on your bets but the profits the gambling companies make certainly aren't tax free, though.

Playing against other humans (particularly in a low-rake environment) works. A combination of gambling and skill. It rewards patience, observation, logic, emotional stability, discipline, and aggression. Players who already have, or can cultivate those skills, consistently outperform their opponents.

http://www.amazon.com/The-Theory-Poker-Professional-Teaches/dp/1880685000

Yes but there isn't much profit to be earned by human vs human gambling games. Gambling operations with a house edge will always be more profitable and popular. P2P gambling platforms will be the feature of gambling bitcoin.

True. Gambling is supposed to be fun. The problem gamblers are the ones that actually have an expectation of profit from gambling. They will always find a place to get their fix.

If you're planning on offering a good dice site or something entirely new and different I think you're welcome. But you won't go far yourself without an house edge.

And yes, Bitcoin is a good opportunity for some online gambling, so you'll always have a market there ;) As for government ownership... Forget about it. I wouldn't spend a dime on a site that's publicly known to be somewhat government controlled.

Decentralised and P2P gambling networks will be the way to go. The bitcoin technology is really useful for online decentralised gambling, none is going to use a government controlled bitcoin gambling site.

This post is the perfect one for me to launch my next point on. However before I do, I want to earnestly and sincerely thank everyone for the precise, practical, and polite input. It really has been some of the best forum discussion I have ever seen.

I will answer in full detail our product offering once my colleague is informed of the great feedback that you have graciously provided us. We believe our system to be novel. We hope you think so, too. The only reason my colleague does not know about this at the moment is because he lives in a different time zone and is not awake as of yet. The second we agree how much to post, AND of way to reward any parties interested in promoting, we will get back to you with full details.

Honestly guys, it's hard to describe how much we appreciate this. Thank you.

Well, gambling in intself is just fun. When people start having addiction its diffirent matter then.

People tend to confuse addiction with fun. Many gamblers can't stop gambling because they find it "funny", in reality, the "fun" part is long gone and replaced with a bad addiction mostly caused by adrenaline. When addiction turns into obsession, the gambler is now in pretty deep shit without even realizing it. Unfortunately for some, they only give up on gambling when either forced by the complete lack of funds or following a bad life event such as wife divorcing (not necessarily a bad thing though, maybe not the best example?).

Yes gambling is also one form of addiction like Alcohol, drugs, dope, women, etc. You get same Kick from Gambling as you get in case of above addictions. The only difference is here you directly dealing with money, so if you lose it then it's gone. 

Please you or some developer make a p2p multiplayer skill game platform where people can play for bitcoins.   I was a professional online poker player for many years, the lifestyle was very unhealthy but the "gambling" aspect is very healthy if the game is truly a skill game - i can explain further if needed.

https://bitcointalk.org/index.php?topic=1016604.msg11014085#msg11014085   < i made this thread just recently.

Im very interested in helping with p2p skill gaming platforms using bitcoin, im passionate about gaming and this stuff is really fun to me not work.  

If you want to talk more PM me or talking here is fine also, i just want to see the system made. :)

You'll have to get money from players in some way or another, so you probably will charge a % of the game pot. It will work the same way as a house edge.

The only gambling that really has no edge is sport beting.

I dont see a problem in charging a small fee, if you can make a system without a fee then thats amazing.

Its all about +ev and -ev bets.  You can do either with sports betting, poker, most gambling decisions.  You cant make +ev bets vs a house unless you cheat.  If you can make a system where +ev and -ev bets are possible then its more just like the kind of "gambling" you'd take in everyday life vs a slot machine etc.

Gambling is a game when you try it. Then, it will take your money away when you think that is an addicted thing. That's my opinion.

Bitcoin make online gambling more convenient, it could help the develop of bitcoin. The potential is huge.

My opinion is that gambling is bad for BTC.

BTC has suffered too much from being associated with terrorism, pedophilia or gambling, even if hard facts were non existent. I don't want anyone to think of BTC as some kind of monopoly money, and there's nothing positive in online gambling. I advise you to look for another business idea.

Is online poker bad for bitcoin or USD in your opinion? 

I cant believe we can lump skill gambling and luck gambling in together and also think we can decide that all forms are bad for everyone at all times.

You can argue whether gambling itself is good or bad, but it's definitely good for BTC (in terms of price and adoption).

Like it or not, currently large % of all bitcoin transaction relate to gambling, which probably creates fair part of demand. Would it be good if you take it away?

What you're talking about is the image issue. You seem to want to present Bitcoin to the world as 'pure goodness', that's bullshit. Bitcoin is not meant to be solution to all the problems, it's meant to be an alternative to fiat. That means it could be used both for noble and for shady things. And that's OK.

but the milliion dollar question who is going to do that? Who will be having that much resource and time to do that.

The punters love to use the bitcoin chip to move around to gamble, the site owners prefer to deal in bitcoin due to govs.  Further growth is inevitable for bitcoin in the gambling market, i would guess in a few years time bitcoin will be the dominant currency in the space.

Government isn't needed.

You just need a trust worthy and good admin.

Just-dice is prime really

You never know if an admin is trustworthy, mark karpeles was trustworthy, the evolve market admins were trustworthy and etc. It's in the human nature to be corrupt and greedy so a human admin would be corrupt as a government would be. Decentralised p2p gambling platforms will the future since none controls them, only code does. And code isn't corrupt nor greedy.

It'll be interesting to see what the future will bring.

More DAPPS will be built in the future since the needed a decentralised currency and now that bitcoin is here there is not stop.  Decentralised market, file sharing, exchanges, gambling etc platform will be built with teh power of bitcoin. Bitcoin was the last piece of the puzzle for all that.

As a young entrepreneur where is your profit going to come from if you provide a platform that has exactly zero house edge? You will have variances of profits and losses but in the long run you will make exactly zero minus your costs for running your service. And any intelligent statistician will quickly deduce that he can't beat your game without counting cards or cheating in some way because there is zero house, and therefore, player edge.

I am unaware of what online gaming services the UK government has recently started to offer, but I am eager to learn. I know that Totesport was owned by the UK government until a few years ago, I believe it was set up by Sir Winston Churchill way back when, so it would not surprise me that they are now offering online gaming services, but please, do share with me who or where.

All this talk in favour of regulation does make me chuckle. Well actually it grates me. The UK Gambling Commission is appalling. They regulated canbet, people lost thousands, they regulated bodugi, same thing, and betbutler, same thing and the latest book that this has happened to is 666bet with that squeaky clean character Harry Redknapp plastered all over their website. And what has happened to them? Gone! With it's customers balances throwing out empty promises just like the other aforementioned bookmakers in a vague threat to the Gambling Commission saying, 'Give us our license back and we will pay our customers'.

The UK Gambling Commission forced itself into law in December 2014 so that all online gambling accessed in the UK requires the provider to have a license and pay 15% tax, whether they are located offshore or not. Undoubtedly this will be passed on to the customer in terms of worsening odds/limits/promotions etc. This has caused the likes of pinnacle sports to suspend it's services to UK customers which is horrible news because those guys take large stakes and offer industry best odds, unlike their UK high street counterparts who limit the smart money as quick as they can cotton on.

Anyway, I digress. Bitcoin seems to me an ideal platform for gambling but having said that I haven't done any gambling with any gambling sites with bitcoin. Why? Too many variables, namely exchange rates and lack of trust in providers. Ideally somewhere like sportsbookreview or casinomeister would adopt a bitcoin only section or some similar bitcoin gambling watchdog would come on the scene and start successfully applying pressure during customer disputes. Because frankly, if the guys who are regulated run off with the money, it's going to be even easier in the bitcoin world surely?

Will the whales want to place a bet at a bitcoin gambling site? Only if they trust them. How is that trust going to be earned?

I think that it is a really good niche, gambling is subjected to many regulations in every country in the world, and bitcoin gambling let surpass this and play freely in all type of games, I had never seen dice with FIAT for example.
But with no house edge? and where do you get the profit from? even with house edge many gambling sites are in negative...

Hello dear community,

Thank you for your responses. We at Open Ocean have decided to make our product known now (it will be up and running within a month) for any interested parties.

Before I list the details I must clear up that by what we mean with regards to no house edge. No house edge means we will not adversely affect any parties changes at winning using our code. We will however rake on action to pay our fees.

With no further ado, Open Ocean would like to present:

Lottery Bonds

What are Lottery Bonds?

Lottery Bonds are an online Bitcoin draw that pays out two groups of users (Ticket Holders and Bond Holders) depending on how many users in the first category (Tickets) are active on the site.

How to use Open Ocean Lottery Bonds:

To play, first deposit funds to one of your two Personal Deposit Addresses.
 
-   The first address funds your Bond account

-   The second address funds your Ticket account

You need to wait until the transaction gets a confirmation before the balance becomes available

How does the System work?

Whenever you deposit Bitcoin into your Bond Account, our database will register the time and price of the account update

The price of a Bond is $100USD
•   If the price of Bitcoin is $100/BTC and you fund your account with 0.5BTC you will have 0.5 Lottery Bonds
    If the price of Bitcoin is $200/BTC and you fund your account with 0.5BTC you will have 1.0 Lottery Bonds
•   The entire community’s collective Bonds collect 2% from the total of sum of Tickets entered into the draw pool
   This 2% is distributed amongst Bondholders by the weight of their holdings
o   A bondholder with 1.0 Bonds will received twice as much as a Bondholder with 0.5 Bonds
   Therefore the more Ticketholders there are, the bigger becomes the 2% return divided among the Bondholding community

When a Bondholder withdraws their Bond, a 2% fee will be removed and put forward into the following Ticket draw

The price of a Ticket is $1USD
•   If the price of Bitcoin is $100/BTC and you fund your account with 0.5BTC you will have 50 Lottery Tickets
   If the price of Bitcoin is $200/BTC and you fund your account with 0.5BTC you will have 100 Lottery Tickets
•   Tickets are entered into a draw pool against each other
   Each Ticket is assigned a random number which at the time of the draw (12:00PM CET) will determine a winner
o   The ticket with the highest number wins the entire draw pool minus 15%
   2% is divided by weight among Bondholders, 3% goes to the services providers, and 10% is forwarded towards the Mega Jackpot

What is the Mega Jackpot?

The Mega Jackpot is a side prize that will cumulate with each additional draw and will be awarded on a roughly monthly basis to any winning ticket

If your ticket wins, you will have a chance to choose a number out of 30, choosing the right one unlocks the Mega Jackpot
•   Choosing the wrong number cumulates the Mega Jackpot available for the next winner

Membership

Though the minimal statistics will be available to all (i.e. total of Daily and Mega Jack Pots) for a small membership (very cheap, optional) we will provide additional statistics on how many bondholders and ticketholders there are and how the holdings are separated with regards to who is most likely to win the next pot and who will receive the most returns on pot coupon payments
•   Hopefully this will allow users to optimize on their investment/gambling choices

What Open Ocean Lottery Bonds hope to Accomplish

Lotteries are used to raise funds from the public to be invested in public goods

The bonds are a way of directly transferring the money from lottery ticket buyers to lottery ticket funders (who are Bondholder that submit a small percentage of their holdings towards the next pot whenever they withdraw funds from their account)
•   Taxes are inefficient, this method uses a gaming-backed security to pay out interest (it’s pretty novel and took us 2 years to develop, even though it’s not that sophisticated)
•   An investment mentality is rewarded, since you will not lose bitcoin by simply buying and holding onto bonds (unless you withdraw at a point where your 2% fee > than your 2% pot coupon, which is divided by weight)

The return on your bet (ticket) rises in proportion with the decreases in your chances of winning
•   Each additional ticket in the draw pool will give you an extra 85 cents on every dollar whilst decreasing your chances by one increment relative to the total amount of tickets in the pool already
   This is statistically superior to 49 choosing 6 or 7 which would require over 13983816  tickets to be sold before making a similar return in the case of choosing 6, or 85900584 tickets to be sold in the case of choosing 7
   The risk/profit ratio is clearly superior, the direct transfer of money to investors accounts is also superior to misappropriation through public spending (for the Bonds)

There are very few investments that provide returns on your bitcoin, we hope to add another to the fray

This could be a global lottery (in the very distant future)
•   Every day someone could win huge, whilst, though less frequently (once a month on average if we choose to use 30 choose 1) Mega Jackpots could be revolutionary
•   Draws could be sped up as we are now working on the mobile application for this
   There are many, many more possibilities.

You tell us if this idea is new, novel, and game-changing. It may not be, but my colleague and I tried our very, very best and earnest to be cavaliers.

Failure does not frighten us with regards to public opinion on the novelty of our idea. Failure, however, is not an option with regards to user experience, rest assured your interests are in our hearts via economic incentive.
•   Our next move is to have our site audited by a security expert we know to make sure we are in line with best practices.

Constructive criticism is welcomed and encouraged and you can be nevertheless, because we want honest-to-goodness advice on how to make this successful on a grand scale.

Despite the fact that there are more intellectually stimulating projects out there (which we support and admire), we believe that this lottery offers value in the return on equity purchased per unit of risk (relative to all other lottery systems out there), as well as means for conservative and patient bitcoin holders to create a small rake with their assets.

Lastly, we aim to outperforming governments in the redistribution of public funds through lottery operations by taking lottery systems and privatizing them (it's not a new concept, but we hope that using bitcoin to do so makes it ingenious enough to overcome the chasm).

Think this should be moved to Gamble section?

Noted and will do so now!

Thank you. I got carried away.

The gambling thread is now located at: https://bitcointalk.org/index.php?topic=1026771.0

i would say that any human isn't needed, better to invest in some serious automatized super bot, that can do the escrow, for problem related to "Lies" from one of the two part that are selling/buying, you can rely on sign by both

for example if one of the two say that it's item is no arrived, you know he is talking no-sense because he signed the package from the courier, ecc...

Even that can also have a loophole and admin can identify it very easily. He will surely going to use that for his/her own good.
Couldn't understand your example buddy.

you sound like a robot, beware the machines are taking over in gambling!!!!

Gambling is nothing more than entertainment and to ban it sounds ridiculous to say the least. When that is done people will still find a source of channel or another way to gamble illegally so no way can you stop this. Having said all that it's important that some form of regulation is imposed to ensure it is provably fair.

what do you mean? i'm talking about 100% automatization, no maintenance needed ever, there is an user here on bitcointalk that is working on something similar

Its good to be provably fair and gambling is just another entertainment form.  When getting into the space i think its good to focus on what games people like to play or how people like to gamble.  It doesnt always have to be poker and casino games though.

Though gambling might result in huge losses but it's as tempting as it comes. What i would suggest you is start with small amount , if you make some profit , withdraw investment and keep playing wisely in case you loose just move-on. There are many gambling sites which you can find in Gambling section. It should surely be regulated , though i don't think our government cares about it unless they see a fortune there to steal , so good luck making a great site and zero house edge is great but how will you be making good profit with 0 house edge???

My opinion is positive. Gambling can become an addiction, but we can't protect everyone and shield them from their own cravings. It can also make you rich, not all gamblers are losers, some make fortunes.
If somebody wants to gamble away his life savings and live on the street it's his choice.

Yes, gambling sites should be regulated but I do not agree taxing it. Regulation is enough, if theyll tax bitcoin gambling sites then a lot of gambling sites will probably shut down.

About losing in a gambling site, its out of the operators concern. One should know their limits if they want to gamble.

Lucky in the UK gambling earnings are already non taxable, thats a pretty awesome law we have over here at least.

P2P gambling, with no house edge, so you make money from service fees right? It is interesting, but P2P game is not very popular here, people like play casino games.

I know some p2p games in the community, but they get low traffics, hardly run a P2P game here. Unless your game is awesome.

I dunno poker is a p2p game and very popular, i think people would pick a p2p game vs a house game provided its entertaining.  Also p2p gives us the opportunity for direct interaction in the game giving it more variety when you play.   Some people will always like standard house casino games for sure.

From my part, I haven't seen a single person who has benefited from gambling (other than the owners of the gambling sites). Some people were lucky... earning quite a lot of quick profits in the beginning. But even they gambled away their initial profits and then slid deeper in to debt, when the addiction took hold.

I see winners every day  ???

Their "wins" are temporary. Gambing is highly addictive. One day, you will win $100. And addicted by this victory, the next day you will put in $1,000 and lose them all. I have seen many such cases myself.

Noble and shady things, this is very precisely my idea. The problem right now is that the shady things might be too big, and the noble causes too small. If someone comes up with another gambling project, BTC needs at least 2 noble projects to balance positively its image.

I don't disagree that gambling can be addictive and destructive but so can alcohol and sugar but there are plenty of people who make a living from gambling or just enjoy it without any problems. It's about moderation and control but obviously some people don't have that and the fun quickly turns into habit and dependance.


Not always. I'm sure most people do lose more money than they win and the longer youu gamble the more likely you are to lose but you can be a winner overal if you pace yourself and stick to your budget.

If people want to burn their money, that's their own problem. Anyone thinking gambling is going to get you somewhere is probably wrong.

Same thing can be said of life, its really hard to prohibit things, if house games are upfront about the edge they are taking from the player then the player has the control to decide.  If people fall into a trap they should seek help or people who want to help should seek them.  Its a really tricky problem though like drug adiction.

Guys, thank you so much for the additional commentary!

Does anyone know a great video illustrator we can hire (we have tried Fiverr and Occulus to no avail).

Any recommendation would be critical as we can explain the industry we are trying to create!

Thank you so much for your time and efforts,
Open Ocean

No house edge = no income for the operator. How will you generate a income from this? {Adverticements?}

Is this purely for entertainment and educational purposes? Other Casino's already have Free2Play options for people who wants to play, without betting. {Bitcasino.io}

Or are you going to host these games and let people play without a house edge, but charge them a entrance fee or a shitload for their food and drinks?  ???

I read the thread, but I cannot pick up on the business model you are going to use.

this is the reason why we should integrate bitcoin in those games that are more skill oriented and less gambling, at least there if you lose is only because of your skill

You should atleast add a house edge of around 1%. Without a house edge you might as well not start the site at all. It pretty much guarantees that a profit will be made off of the site. 

Online gambling make bitcoin more valuable because demand of the bitcon going high.
The player playing online gambling and loss, then the player want buy bitcoin so fast to turnover fastly.

a lot of gambling site also offer altcoin, so what that means? 
is that good for bitcoin or bad ?

Indeed most bitcoin use throughout the world are in the field of online gambling, so the bitcoin gambling should be safe and not rigged

Gambling is a disgusting habit that is dangerous , highly addictive, and often takes advantage of the credulous and impulsive that should be free to operate without regulation and interference from states which are equally as nasty(and often have their own corrupt forms of gambling)

Ask over on the Services section here. There are always people willing to do this sort of work in exchange for bitcoin.


Guns/drugs/knives/sugar/alcohol are addictive and/or dangerous. Most of those things including gambling are fun or can be used or enjoyed  responsibly by the majority but a few people always have their problems but that's the individuals choice.

Sure and thus the reason why I think it should be legal and unregulated. Gambling in the most benign form is a waste of time like video games or soap operas , with irresponsibility it becomes more dangerous than certain hard drugs.

  Are there any gambling sites that donate 100% of net profits to charity?

Well, bitcoin has to be integrated into more mainstream uses first. Once it gets around to store retailers and online sales with more strength, then it will be time to look into more specific uses such as sports and competitions. Gambling really just took off that fast with bitcoin because it is a legal workaround to something that would be illegal with fiat, nothing else.

Gambling is legal in most places, but I'm not sure it being unregulated to do what they hell they want is a good thing. Most things that we do are ultimately a waste of time (posting on internet forums for example lol) but it's all about moderation and what a person gets out of it (drugs and gambling and posting on a forum can be fun but also dangerous and damaging). And Why would they donate money? They're businesses not charities, but maybe you could create the first charity gambling site? People may be more inclined to play there if they think their money is going to a good place once they lose it.

Charity gambling site it's a very good idea ;-)

Charity gambling or not charity gambling. Currently both forms of gambling are illegal in some countries. Except for playing with bitcoin which can't be regulated.

It is true, but now the laws in countries like US are getting strict which is causing these sites to shut down or the owner's facing legal charges like Micon @SWC . But yes there are still way around that. I feel slowly more and more sites will eventually have legal issues with running, but since its an unlicensed industry there is nothing that will stop new sites to come up.

Gambling is legal in more countries than it is not, but since bitcoin isn't legal tender or money in many places they might be able to get around restrictions using it.


If casino operators are careful with where they host their sites there's not much the authorities can do about them. You absolutly cannot operate them from the USA that's a given.

Up for this,
do we have any examples already?

Online gambling is not a bad idea with bitcoin if it is trusted and government allow it.

well one could simply gamble and then donate that to charity if he want, i don't think we really need a site that dose this two thing together

or some dice game could just donate a portion of their earning to a charity service