Law on gambling Bitcoin - Do I need a licence?

[luke.watson]

Hi guys I am thinking of setting up a game on my site where customers can gamble for the chance to win a prize (i'll do a proper release when I finish it, I think it should be fun and people will hopefully enjoy it)

But before I set it up i want to make sure I dont get in trouble, now I understand every country has different laws on gambling so its difficult to know but I read on this article that Bitcoin is changing the way people can gamble in the states

http://www.businessweek.com/articles/2013-01-03/bitcoin-making-online-gambling-legal-in-the-u-dot-s-dot

So, for now is it safe to say it is completely safe to gamble with Bitcoin (if you don't mind a house odd) and I can go ahead with my plans in the hope that the US wont come out with a crazy law outlining that to gamble with Bitcoin i need a Bitcoin trading or gambling licence?

[🏰 TradeFortress 🏰]

Consult a lawyer, yada yada, currently no regulatory actions on btc gambling sites but that may change, consult a lawyer if you're serious...

[GambitBTC]

Consult a lawyer, yada yada, currently no regulatory actions on btc gambling sites but that may change, consult a lawyer if you're serious...

Ya, pretty much walk the gray area until the legality, or illegality is defined.


Heed Trades advice, talk to a lawyer, peace of mind is priceless.



 

[luke.watson]

Okay well I guess that would be the best course of action, does anyone know how sites like satochiDICE etc are able to gamble, I assume they would only do so based on the grounds that there is no law currently dictating what they can and cant do

[GambitBTC]

Okay well I guess that would be the best course of action, does anyone know how sites like satochiDICE etc are able to gamble, I assume they would only do so based on the grounds that there is no law currently dictating what they can and cant do

Pretty much, In my honest opinion get in on it before bitcoin gambling is regulated, cause at the rate BTC gambling sites are sprouting its bound to happen eventually.

Get your paper braj

[sinner]

Licenses in online gaming are a JOKE.  they dont mean a goddamn fucking thing.  i know this from painful personal experience.  you probably need a license if you want to accept fiat, but if you're doing bitcoin, don't bother with a license.  also don't host your site in USA.

[WinVery.com]

The law revolves around having dollars transact through an actual bank on behalf of Americans. 

[blockbet.net]

It's a complicated topic and I'm not sure if there is an easy answer. But trust me, you don't want to take any "Jr. members" opinion on this (including mine). I assume you're an US citizen (and living there), so you'll want to be very careful with this to say the least.

Second, think about if your gambling site is worth the trouble. We have new dice or casino or ponzi games popping up every day or so that are bringing nothing new to the table, so why should people play there instead of the already established and trusted sites?

[luke.watson]

The site wouldn't be adding anything new to the table but it wouldn't be exactly like the other sites, if I can find verification that it would be feasible for me to make the site then I probably will, I dont want to give too much away atm but its not anything that will change the world, just a nice place people can go bet and win prizes

I'm from the UK so the laws will be slightly different, although the governmental have gone out of their way to make it as difficult to find an explanation as possible... I will get my script together and host it for as long as I can, if it turns out I am in violation the worst they can do is tell me to take it down and possibly charge me, but it seems unlikely that they would bother (especially in the UK) I doubt anyone in Parliament has even heard of bitcoin yet

[GambitBTC]

It's a complicated topic and I'm not sure if there is an easy answer. But trust me, you don't want to take any "Jr. members" opinion on this (including mine). I assume you're an US citizen (and living there), so you'll want to be very careful with this to say the least.

Second, think about if your gambling site is worth the trouble. We have new dice or casino or ponzi games popping up every day or so that are bringing nothing new to the table, so why should people play there instead of the already established and trusted sites?

You honestly brought nothing new to the table, and isn't your whole first paragraph an oxymoron since you say don't listen to your own advice?

Obviously your advice was more thorough then telling him to seek legal advice, derp derp.

Shouldn't you have a deeper understanding of this since you run a knock off btc gambling site that takes 14 hours to pay out?

[blockbet.net]

You honestly brought nothing new to the table, and isn't your whole first paragraph an oxymoron since you say don't listen to your own advice?

Exactly. I said that Internet forums aren't the best places to seek legal advice, especially because the OP didn't say which country he plans to operate from. But now that we know, I suppose UK is better than US in this regard.

Regarding the rest of your post, I'm not interested to argue about my business with you.

[GambitBTC]

You honestly brought nothing new to the table, and isn't your whole first paragraph an oxymoron since you say don't listen to your own advice?

Exactly. I said that Internet forums aren't the best places to seek legal advice, especially because the OP didn't say which country he plans to operate from. But now that we know, I suppose UK is better than US in this regard.

Regarding the rest of your post, I'm not interested to argue about my business with you.

I wouldn't either, bad publicity for you.

Considering your already only 1 level above anonibet (LULZ)

I digress.