According to the matrix, “for a two-platform provider and four operator schemes, the proposed tax rate is 64%”
New Hampshire currently taxes 51% income and Pennsylvania taxes 36%, making the New York rate the highest in the country for sports betting. The New York state gaming commission has issued a request for the proposals which are due 10 December apparently which would raise the gambling tax to 64% ( proposed) it's already way over the top. They have also issued information about the unlicensed casinos in the area. They wanna choose the official tenders, therefore these measures are supposed to attract those parties. Resorts World Aqueduct Casino (owned by Genting) and Empire City Casino (owned by MGM Resorts), gambling properties that have already been licensed to run slot machines in the area, are speculated to be among the interested parties. https://www.gamblinginsider.com/news/13616/new-york-launches-rfps-for-new-casinos-and-decides-64-tax-for-online-sports-betting What do you think about these unreasonable tax rates ? ? These are not only over the top but also going to push the companies away. While these taxes may seem high you can guarantee that any gambling company would jump at the chance to take a chunk of the New York market even at such rates. Casinos and all kinds of gambling institutions are pure money making machines with seriously low overheads and people almost giving their money away in this form of entertainment. While these gambling companies might be serving a purpose and should be regulated rather than banned, they are almost definitely not good for the wider society because they contribute so little back. At least this way tax money can be redistributed back into communities or constructive projects rather than just benefiting a few shareholders. |
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The former president of the People's Bank of China shared his view on CBDCs and their part in the modern economy, additionally commenting on the real reason behind the crypto crackdown in the country. He believes that while other countries use different ways of implementing digital currencies in their economic systems, China will find and use the best possible way. As Zhou Xiaochuan stated, the most basic function of currency is as payment; otherwise, it is inherently useless in the traditional economic system. While the currency may have a storage function, it must be useful for payments. With the introduction of CBDCs, the economy will reap numerous advantages like reduced costs, higher convenience and stability. They are more convenient and offer more flexibility than traditional payment methods. Businesses will also benefit from the digitalization of the economy. Small enterprises will be able to create a more effective and easier accounting framework. Referring to the most recent actions coming from the Chinese government toward traditional cryptocurrencies and mining, Zhou said that it is the "survival of the fittest" since the decentralized blockchain-based digital currency is not the most convenient payment method for traditional economies. Most likely, the former president of the Central Bank of China referred to problems that modern cryptocurrencies have with the scaling that includes fees, network congestion and the speed of transactions. Source: https://u.today/chinas-central-banks-former-president-introduces-reason-behind-countrys-crypto-crackdownNone of what you stated are valid reasons to ban cryptocurrency and it just disguises the real underlying reason that no CCP party member will ever be willing to admit. The CCP wants absolute control of everything happening within China, it looks like Xi Jinping did not learn from Mao's mistakes and wants to recreate them on many levels. Instead of opening up to the world and becoming more transparent, the CCP chooses the path fo hostility and making outsiders the imagined threat whenever economic turbulence comes along. Having everyone controlled internally means being able to control money which might otherwise be able to escape the country along with its owner if times got much worse. |
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Fiat betting was once the order of the day making online betting difficult to play mostly for international gamblers that have no access to international money transfer services like money gramme, PayPal, Wester Union and so many more. Online gambling was mostly difficult then but now. The regime of Bitcoin has made online transactions easier for everyone.
Gone are those days where you will have to queue in a betting shop to play bets(sport bet mostly)
Gone are those days where online betting is limited.
Gone are those days where there are few betting sites available for bet enthusiasts.
Gone are those days when gambling is for the rich.
Gone are those days where international sport betting transactions are stressful.
Gone are those days when people are afriad to buy Bitcoin.
Now we have some many altcoins that can be use to play bets online. We are gradually walking into the blockchain era. God bless Satoshi Nakamoto.
What advantage does the crypto betting has over Fait betting?
I'm not sure what point you're trying to prove really but it seems like either your country has made fiat gambling illegal (in which case cryptocurrency betting would be off limits to you technically anyway) or you are blissfully unaware of the hundreds of online fiat betting sites out there. In my country local currency betting has been online long before Bitcoin ever existed and the games are probably much the same as you see these days. There's obviously been upgrades in graphics, variety and convenience has improved - but it's been going for decades now. I think you are stuck in the mindset that only cryptocurrency or real world casinos exist when this has never been the case. |
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At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.
Much like the stock market - trying to understand the waves is almost impossible because it is driven by such a collective amount of irrational behavior. When Bitcoin is doing well and all the news is positive people flock to it. When a few bad developments hit the news, like eco-unfriendly concerns, possible US regulations or China banning it outright, then people all try to flee at the same time. Similar things happen in the boom and bust cycles that drive stock ownership but are amplified much more greatly because it is a single asset getting so much attention. Nothing much actually changed, just the static noise around it was producing a certain overall buy or sell signal. |
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I was with a friend today who was in a hurry to place his bet on some numbers that were sent to him for some football matches that he believes are fixed. I'm a bit confused how fixed matches work.
Are fixed matches real? Do the coach and players of teams were matches have been fixed, do they consent to it? If you were in a team were your next fixture has been fixed, what will be your reaction?
If you're in a team with someone who match fixes then essentially you have an enemy within your ranks - someone who is actively sabotaging your best efforts in the worst way possible. That person is likely to be acting like your friend and using the most devious methods to hide the cheating that will solely benefit them. Unless the whole team is in on it then that is likely the worst kind of betrayal you could ever face. I'm not sure how else you could react to finding that out except with disgust and all the anger in the world. Some people make their whole life about the sport that they have chosen to specialize in, it pays their bills via a salary and someone fixing matches would be severely effecting other peoples ability to increase their career path in future. |
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So stealing with Cryptos is almost not possible
It sounds like you either don't understand what stealing is or you don't understand how Bitcoin works to come out with such a statement. Stealing crypto definitely is possible and it takes place every single day. There are websites out there called "mixers" which facilitate money laundering and will essentially accept your money, then pay out with a different batch of bitcoin to break any chain in the connection. It's not foolproof and if the mixer is compromised it can lead back to the original transaction, however criminal activities like these are common. Even a lot of ransomware uses cryptocurrency to request payment, the so-called transparency you talk about can easily be side stepped and made redundant from the perspective of an investigator. |
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I'm not sure if this had been asked before. This is just an example of some odds that I saw recently Fighter A (1.30) vs Fighter B (3.65). With this obviously, Fighter A is the people's champ and Fighter B is the underdog.
Regardless of who is bigger and undefeated record, let's say you have no idea who these fighters are because the names can't even be read like Ulshrkubyki vs Ykwehgyfvbh. If you only have $10 left in your sports betting account, would you go for the champ which you can only earn $3, or go for the underdog which if he got lucky can triple your money?
At the end of the day these statistics are not grabbed out of thin air. Gambling companies have carefully calculated the chances of winning and in the example you gave there must be evidence why they have favored one fighter over the other. You'll easily find the reasoning behind most pricing differences, the fighter with the lower payout is probably coming into the match with a streak of wins and the other fighter might have several previous losses - it's clear to anyone with a little deduction which way the fight is leaning. Now, anything could happen in the fight but statistically you know the likely outcome, if there is a reason you think the fight is mispriced, like the underdog being able to strike lucky knockouts, then you might want to bet that way. Otherwise you might as well bet on the expected winner and slowly make your profit that way. |
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My father loved to gamble, and was a big Blackjack player. He was an incredibly smart guy, and always did his homework before ever doing anything at all. That was no different when it came to gambling. I remember seeing him read several Blackjack books, which was his favorite game to play. Do you guys own any good gambling books or know of any website where you can learn skills to play certain games like Blackjack, Poker etc?
These days the best advice if you want to learn many things is via Youtube - there are all sorts of guides and even documentaries that can teach you how to play blackjack profitably. Unfortunately technology is so good these days that you are unlikely to be able to beat the house for very long before you get banned from the casino. There is no law against counting cards (the only consistent way to win) however the casinos are very good at bullying players because they know all the tricks in use. You might be better off mastering a new skill like poker where you can gradually improve and eek out a profit from the comfort of your own home - it requires a lot of determination, patience, time and perseverance however. |
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The world likes lists, it kind of creates a framework for competition to be included. One of those is the list of richest in the world, recently: Jeff Bezos
Elon Musk
Bernard Arnault
Bill Gates
Mark Zuckerberg
Warren Buffett
Larry Ellison
Larry Page
Sergey Brin
Mukesh Ambani
https://www.investopedia.com/articles/investing/012715/5-richest-people-world.aspBut now, some unofficial figures for less public people are worth a second thought. For example: Dawood Ibrahim
...
He’s evaded arrest for a good part of three decades. After allegedly masterminding a series of explosions in 1993, Mumbai, Dawood Ibrahim went underground and has stayed away from public glare all these years. He started out as a small-time criminal in the ’70s and rose up the ranks till he became one of the richest drug dealers on the planet. While his estimated wealth comes nowhere close to Pablo Escobar’s estimated $25 billion in 1989, Ibrahim continues to remain alive, at large and worth well over $7 billion 25B in 1989 would make Pablo one of the richest persons on earth. By comparison, today's most notorious narcos are not making the cut. It seems like "the business" has become more complicated than before. https://finance.yahoo.com/news/el-chapo-12-richest-drug-214253459.htmlI doubt any of these super rich people would really care about someone with illicit money having control of much larger amounts than them. Often you'll find these drug lords are in fact rich on paper only - they'll likely be confined to a tiny area of their country because they are hunted by so many law enforcement agencies and rivals. On top of that the money had to be laundered very well, will often get lost in all sorts of dodgy schemes and they will be lucky to make cents on the dollar for drug money that needs to be cleaned. Even when they do clean it, it can still be hard to retain control because if their bank accounts are ever exposed (we've seen several leaks in the last few years) it will be quickly seized. |
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China declares all crypto-related transactions illegal and forbids overseas exchanges from serving its citizens.
The PBOC said all crypto-related transactions are not allowed under the law.
Activities considered illegal cover a range of operations, such as buying and selling virtual assets as a central counterparty, and providing intermediary or pricing services for crypto transactions. It also includes token issuance financing, crypto derivatives transactions, and other activities suspected of illegal sale of tokens.
"Those who carry out related illegal financial activities that constitute a crime shall be investigated for criminal responsibility in accordance with the law,"
China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."
How will this impact Bitcoin and other cryptoprojects?? What do you think guys?
I think due to the very decentralized nature of Bitcoin that this will have less effect than the Chinese authorities would hope and may actually help wider adoption by Chinese citizens in general. They now know that it is a legitimate threat, which means it has reached critical mass and is now scaring the government so much that they choose to ban it. That means that if anyone is able to get hold of Bitcoin they may have a means to get money out of the country which is out of the reach of the CCP. It seems that this is turning into a big bonus for Bitcoin because there is a lot of money flowing around that country right now and looking for a way out. |
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Let's face it - recreational hard drugs are there to stay. Do war on drugs or pretend that all is because people south of Rio Grande are all "rapists and gangsters" - ignoring the fact that millions in US are willing to blow just about anything in their noses or gulp any funny looking pill that promises them a minute of fun, none of that matters. They are there.
And the real victims of it are not the narcos and are not the people who actually use drugs - nobody is forcing them to put stuff into their bodies if they do not choose to (at least in 99% of the cases). Nope, the victims are the people south of Rio Grande who actually would love to have a decent country and go about their legitimate business without being at risk of being killed or knowing that it is even worse to call the Police and that the political and justice system is so broken that they basically on their own.
It is not going to go away. The DEA will be there self-justifying by capturing a few, more will take their place and the circle will go on and on.
It is time to assume the truth and legalize. And get taxes from it. Is that ethical? I think so.
The impact on Central America would be huge, as this huge market would surface and there would be no need for all the violence that surrounds it. It will give a decent chance of survival to a number of government systems that are failing against the might of the cartels and contribute with taxes and exports.
In US, just as when the "Prohibition" ended in US, the dark economy was greatly reduced. Drugs would have controls and would be no different from Alcohol (a drug arguably) and the recently legalised cannabis.
The "war on drugs" has been the biggest disaster in the history of America, like the prohibition era (alcohol) but it has continued for much longer. Unfortunately it is America as the richest country which has to come up with the right solution because they are the biggest end recipient of all the misery from production to trafficking. The officials are still stuck in the mindset of trying to crush something which is a large part of the nature of many people, intoxication and addiction. If instead of playing a game of cat and mouse with cartels for decades they focused internally on treating drug addicts with compassion then the problem could be fixed at the source. However no government ever wants to take the step of helping addicts and switching this whole game around because it becomes a form of political suicide. |
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Right now things are starting to get a bit scary with not only how bad inflation has gotten, but also how bad supply chain issues are continuing to get. The pandemic has caused a huge mess, and I'm curious how bad you guys see things getting and if it's as bad in your country as it is here in the United States.
First, how bad is inflation in your country..what % is it currently at? (Here in the U.S. it's between 4-6% on average. Many items have inflated much more such as seafood being around 20-30%)
Second, are you seeing supply chain issues in your country and how bad is it? (For example my favorite toilet paper has not been produced for well over a year now. Recently my two favorite bags of chips have become unavailable from both supply chain issues and factories focusing on other items, putting them ahead of my FAVORITE damn chips lol).
It seems we are still in the very early stages of inflation and how bad it'll get depends on how long it perseveres. People in most countries will likely be able to tolerate a year or two of inflation without too devastating an impact - it will erode their salaries and push up the cost of living, so it closes the margin between income and outgoings. However the real challenge will be longer term, unless it is gotten under control it could cause central bank interest rates to rise which will cause a lot of trouble for home owners in 2-5 years time after the mortgages come up for renewal. If people are used to paying 2% it will be a big shock to see it rise up to 5-10% and will seriously curtail spending power, this has a knock on effect and ultimately leads to recessions. |
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How fast your favorite crypto casino are ? I have seen 2-3 rolls per second (2rolls/sec) in Dice in most casinos.  I have used in turbo/fast mode. Do you know any casino, which is even faster ?  The only people gaining money from faster dice plays are the casinos - every single roll is calculated to give the house an edge over the long term. Even if you were to get lucky with one roll, your account can automatically, specifically and easily be targeted to recoup any large amount of winnings that you acquired through random chance. All of these gambling institutions know that gamblers have an addiction and in the vast majority of cases incapable of withdrawing from the game after a big win - in fact it might cause them to bet even higher and ultimately lose more money to the house. Be careful about pursuing ever faster games and instead consider reviewing your previous profitability. If you're aware of the losses and simply find it a form of entertainment (strange) then best of luck to you. |
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Well, it's not Walmart itself. Walmart is just hosting Coinstar kiosks which sell Bitcoin. This is in partnership with the crypto wallet and exchange, CoinMe. For those who have been into Bitcoin for some time, this may not sound interesting at all. But given the fact that this is Walmart, the largest retail company in the world, bringing Bitcoin to the masses, this is rather big. This is bringing Bitcoin to the mainstream. For a start, because this is still in the pilot phase, 200 Coinstar kiosks are installed inside various Walmart stores across the US. If this is successful, this might become bigger in the future considering that Walmart has thousands of stores in the US. The good thing with Coinstar kiosks is that retail buyers are allowed to buy small amounts of Bitcoin for as long as they're paying with paper bills. The downside, however, is that you are required to setup a CoinMe account which requires KYC. In addition, there is also a 4% transaction fee plus another 7% cash exchange fee. Do you think this will be successful?
Sources: 1. https://www.reuters.com/business/walmart-allowing-some-shoppers-buy-bitcoin-coinstar-kiosks-2021-10-21/2. https://www.coindesk.com/business/2021/10/21/walmart-has-quietly-begun-hosting-bitcoin-atms/3. https://www.reuters.com/article/walmart-cryptocurrency-idUSL4N2RH4BLWhile it is great for adoption, it's a huge leap to associate Coinstar machines with the retailers that host them. One advantage to this however is that these machines tend to be around the entrance/exit of the shop, so anything tagged with Bitcoin will be seen by almost every shopper who is paying attention. It's a form of indirect marketing and might subconsciously sway people to do more research. If these machines also convert coins into cash and offer Bitcoin as a payout option, that will introduce it to many people who otherwise would never be exposed to it - the people with the least money available and the ability to convert it into an electronic format is a great idea. |
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Who else thinks that these kind of thing may hit mainstream sooner or later? I don't know if this is something new but seen a news from Decentral Games that they are launching a play-to-earn Metaverse poker. Others predict next to NFTs boom that it could the the Metaverse hype. Any thoughts? Over time, we believe several projects will attempt to deliver play-to-earn architectures. However, due to the state of Decentral Games’ current product and community, DG is in a lucrative position to take advantage of this new wave in gaming with a first-mover advantage. We’ve already built metaverse poker, blackjack, roulette, backgammon, and slots, which are games enjoyed daily by our community through memorable events like live music performances, casino night competitions, poker tournaments, and more. https://decentral.games/blog/decentral-games-announces-play-to-earn-metaverse-poker-ice-token-rolloutI don't know about the metaverse, but it seems like NFT's are still all the rage at the moment and at some point there will be a gambling market that opens up which accepts them. I saw Facebook has been in the news lately talking about establishing their own version that will take many years to build. It will probably blow away any current providers so be careful where you park your money right now as it might become obsolete if the biggest players become involved. I think Facebook want to take it to the level of having a virtual reality world that you can "move" about inside and interact with, it's starting to sound a bit Matrix-like and let's hope it doesn't turn humanity into mindless zombies thinking they are exploring from their couch. |
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I just saw this topic "What problems in Bitcoin's infrastructure prevent it from being adopted more easily?". All the answers were really interesting, mentioning the lack of regulation, volatility, ignorance, etc.
My question is: How can these problems be solved? And is it ever possible, what do you think?
In my opinion, regulation, practicality, and stability are definitely required for the mass adoption of crypto as a payment method/currency.
What are your opinions on this?
At the end of the date, the world is and will be divided into many countries for a long time to come. Each country has it's own set of laws to navigate and different cultures with all sorts of different values. The fact that Bitcoin has been widely accepted by countries in the Americas and Europe is the best we can hope for short term. As these countries have stable societies that can build out the legal framework for it to exist and later on be copied by countries with less resources to devote to such activities. At the heart of it all cryptocurrency needs to maintain transparency and freedom with an effort from existing holders to push back against oppressive governments who want to ban it outright for the greedy and self interested needs of the politicians in charge. |
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El Salvador became the first country where bitcoin was accepted as a means of payment. How has this affected centralized payment systems and what will be the trend in the future as more countries follow the path of El Salvador? I recently came across an article https://www.kevinrooke.blog/el-salvador-and-bitcoin-two-weeks-in/. It talked about how bitcoin adoption proceeds in El Salvador, and there I discovered interesting facts. Thanks to El Salvador, the Lightning Network received a powerful impetus in development. This happened thanks to the popularization of the Chivo wallet and the incentives that the government of El Salvador guaranteed when it was installed. In total, the Lightning Network gained about 2 million new users: Many users began to actively use bitcoin payments and money transfer using the Chivo wallet and support for the Lightning Network. Consequently, the Salvadorans increasingly began to use bitcoin services instead of the usual banking or payment processors: Most of El Salvador's banks and payment processors have user ratings of 2-4 stars, while Bitcoin related apps have user ratings of 3-5 stars.
Specifically, El Salvador's largest bank, Banco Agricola has among the worst user reviews on the top 20 charts. El Salvador's leading mobile money transfer platform, Tigo Money, has reviews that are just as bad. The use of the Lightning Network has exploded, creating a powerful network effect with the infusion of several million new users into the ecosystem. People see the benefits and potential of fast, low-cost transfers and are choosing to use the Lightning Network over the usual centralized transfer methods. This is evidenced by the official data of the stock market. As we can see, since July (when El Salvador's plans to accept bitcoin were announced), Western Union and MoneyGram began to fall, and continue their downward trend. While bitcoin is growing and gaining strength. The era of traditional money transfers is coming to an end and this business, if it does not disappear completely, will significantly reduce its influence in the world. Other countries will follow in the wake of El Salvador, and millions of new users will join the ecosystem. What do you think about this? I think this may be a case of beware of what you wish for - we're slowly seeing companies like Paypal and Visa wake up to the realities of cryptocurrencies like Bitcoin. However they do see the threat you're talking about and are more than happy to try to capture the market. They also have huge marketing resources and historical advantages that allow them to shepherd money into cryptocurrency that they would be able to control to a degree. Paypal are getting lots of Bitcoin buyers hooked, however they are all contained within a small ecosystem controlled by one company - you must buy from them and sell back to them at a cost, while being unable to transfer out directly. |
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Here is a piece of information that many of you have probably noticed. But if you aren't that much into betting on sports, you might not know about it.
If you bet on football/soccer, you know that there is a type of bet called Double Chance. In such a selection two outcomes of the match result in a win of your bet.
Take a look at the picture below.
A Double Chance on Benevento win/draw pays 1.69. Just above that selection, you can place an Asian Handicap bet +0.5 on Benevento. That is the exact same bet, the bookies just call it differently. The AH +0.50 bet is valued at 1.76 compared to 1.69 for the exact same bet. If you place an AH +0.50 bet on Benevento and the match ends in a draw - you win. If Benevento wins - you win. If Benevento losses - you loss, same as with the Double Chance bet.
The bookies often use these kind of tricks. Here is another one for different bets.
A Draw No Bet means that if the team you bet on draws the match, your bet wont be lost. It will be voided, and you will get your stake money back. If the team you bet on wins, you also win your bet. In the screenshot you can see that a Genoa Draw No Bet has an odd of 1.88. A few lines above, you can play an 0 Asian handicap on Genoa, which is the same type of bet, but the odds are slightly higher. 1.93 compared to 1.88. If the AH 0 match ends in a draw - you bet is voided. If your team wins - you win, and you lose your money of course if the opposition wins.
I have seen other types betting options that bookies use where you can bet on the same outcome, they just call it differently and offer higher-lower odds. Share your own examples of what you have discovered on different platforms while gambling on sports.
While you may have noticed a genuine discrepancy, I don't think it is particularly favorable to the person who is placing the bet. You'll often find that bookmakers will simply throw odds out there if they think there is a profit to be made from statistical analysis and simply tack on an extra margin of safety if they have less information on a certain type of bet. You also need to be wary of very small differences ("the fine print") between types of bet, for instance certain bookmakers will offer odds on bets within 90 minutes of a soccer match and others would be offering until the game ends (overtime + possibly penalties), if you're not paying attention in those situations it can cause some costly mistakes. |
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I just saw it on the telegram news channel that I subscribed, Bitcoin mysteriously flash crashes below $10,000 in a minute period with a volume of 592.75BTC. I think a long time whale finally take profit on his long time investment. I wonder if anyone here using Binance.us and scoop some of cheap Bitcoin.
This reminds me that sometimes setting a too good to be true limit buy order might give a good fortune to those who will patiently wait.
It would seem very unlikely for someone to sell Bitcoin as such a price so it is likely either an error in the graph reporting or someone made an error when trying to price some Bitcoin to sell. It is a devastating error if someone accidentally mispriced it and possibly lost over 30 million dollars due to such a mistake. Maybe someone got their account hacked and the hacker wanted to unleash this into the market. There are so many possibilities but one end result is likely - someone lost out and others made some rather huge gains if it was genuine. Surprised Binance didn't jump into the deal to make their own profit quite frankly, considering their sketchy reputation. |
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Dice have been one of my favorite gambling game and am thinking of installing a dicing machine in my home just for fun, my 17 years old son is good in playing computer games and am thinking of introducing him to gambling after all he is going to learn it whatever ways if I don't teach him how to handle gambling risk and avoid being addicted. The need to have a dicing machine at home becomes paramount and am wondering which dice machine I can go for?
I don't understand why anyone would teach their children to gamble like this, it's quite irresponsible really. Then again, I don't understand why anyone would find dice an enjoyable entertainment activity when it's so boring and repetitive with absolutely zero skill involved. You're not going to teach your kid a single thing, other than some people can get addicted to the most monotonous and tedious "games". A responsible parent would be teaching their children that gambling is a fools game and they are much better off investing their time into more productive pursuits - even "boring" old gaming involving no sort of betting or micro-transactions can reap plenty of reward. |
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