Starting bitcoin casino legal?

[NERV1]

I see lots of bitcoin casinos starting up. Are these legal? Dont you require expensive and difficult to obtain licenses for this? For example can you legally collect rake just willy nilly?

[DiamondCardz]

Sites like bit777 haven't faced any legal action as far as I know, despite the fact that if you did that with a real money casino it'd probably require licensing. I'm not actually sure what the official stance on this topic is.

[mprep]

Bitcoin isn't considered currency thus all "casinos" are as real as those seen in some MMOs, according to law.

[DiamondCardz]

Bitcoin isn't considered currency thus all "casinos" are as real as those seen in some MMOs, according to law.

Are you entirely sure? I didn't think it would've worked that way, to be honest. Quite interesting.

[mprep]

Bitcoin isn't considered currency thus all "casinos" are as real as those seen in some MMOs, according to law.

Are you entirely sure? I didn't think it would've worked that way, to be honest. Quite interesting.

In most countries, BTC is still regarded like any game currency. In US, it was only recently declared as property. That doesn't change much regarding casinos with BTC I think.

[DiamondCardz]

Bitcoin isn't considered currency thus all "casinos" are as real as those seen in some MMOs, according to law.

Are you entirely sure? I didn't think it would've worked that way, to be honest. Quite interesting.

In most countries, BTC is still regarded like any game currency. In US, it was only recently declared as property. That doesn't change much regarding casinos with BTC I think.

Ah, I see. So in most cases Bitcoin casinos are pretty legal, to answer the OP, I assume.

[QuestionAuthority]

Ask Erik Voorhees about it. He started Satochidice, more than a year later secured legal counsel, stopped taking US customers, sold the business and moved to Panama. Obviously he found something out that made him a little nervous. It could be that he was just worried about trading an unregistered security though.

[Jcw188]

I'm pretty sure it's not legal in the US to be honest.  It's a game of skill/chance and I don't think it matters that it's not for dollars.