Online gambling and local laws

[BTCLovingDude]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed.

being legal or not is for the owners mostly. in other words you can't live in one of these countries that have a law against online gambling and run a gambling site.

for users it is not so bad, the chances of law asking you why you were gambling online is low and the worst case scenario is a warning sent to you by your internet provider.

So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

it is bitcoin, you withdraw bitcoin and then sell that bitcoin to fiat. if you are worried you can even run it through a mixer.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

all that said, it is better to know the rules in your country before doing anything money related and use all the precautions.

[arseaboy]

In my country there's no such laws which pertains to withdrawing bitcoins and online gambling is allowed as well.. there's a lot of options for us on how to withdraw our btc without any issues well of course some banks or affiliates charge some fees for the process.

[letyouearn]

Think,  if you win a big amount like 20 or 50 btc and try to cash them in your Fiat currency.  And you don't have a debit card , then you have to withdraw it manually by visiting the bank by filling up withdrawal slip.  In this case,  you are enforced to pay the taxes to withdraw that amount .

In India,  if you are withdrawing more than 50k INR , You have to provide the PAN id provided by Income tax department.  This way,  you will become monitored by them and force you to pay taxes.

If you don't pay taxes,  you might be in trouble.  This is all I came to know from my friend .

So, did u pay income tax on your 30 BTC win at Satoshimine?

I have also cashout more than 30 bitcoins and had a turn over of upto 40 btc + when I was playing on satoshimines and had a biggest winning amount withdrawn.  I didn't experienced any issue while doing that transactions like income tax department inquiries or anything. But still we have to be careful and aware of being caught by IT department as well.

No. Because,  after I cashout all the winnings, I bought bitcoins again after some days to play on satoshimines . And that's the turning point that I lost my all funds.

[ikydesu]

Just withdrawal for small amount, don't take it all of your jackpot, maybe cash out it for some price, means x amount for x price btc/usd and y amount for y price btc/usd.
Use mixer service, its make tracking transaction difficult.
Withdrawal to your local bank doesn't charge tax, if i'm not wrong.

[Raimonn]

Some gamblers prefers bitcoin to play on casinos to avoid this local laws. But its better to read always the faqs section because some bitcoin casinos ask too for id verification before paying big jackpots. Also don't use coinbase wallet to send or receive bitcoins to casinos, they don't allow gambling and can cancel your account.

[kanazawa]

You can host your gambling website outside of your country and promote it in global platforms (like google adwords) that it's not illegal. Many countries has a law against Casinos games, but if nothing is hosted and only players are inside the jurisdiction (and you're not obbligate to ban players from some specific country without official prohibition of government, you can run your service totally in peace.

[raphma]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed. So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

in bitcoin, that doesnt matter...
it's easy to find way to convert it to FIAT without problems(P2P, bitcoin debit card) and unless it's a very(very) big jackpot you wont have any problem with your country laws. it's easy to justify the money.

except the part where they dont pay you 

[Kakmakr]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed. So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

in bitcoin, that doesnt matter...
it's easy to find way to convert it to FIAT without problems(P2P, bitcoin debit card) and unless it's a very(very) big jackpot you wont have any problem with your country laws. it's easy to justify the money.

except the part where they dont pay you 

Ok, Let's test that theory. Explain to us how you will explain to the tax authorities, if you suddenly generate additional income of say $20 000? They will flag you for a audit, and then you have to show proof of the income you generated. How are you going to explain that money?

A lot of the gambling sites are not regulated, so they can basically do whatever they want. If they do not want to pay you, because of some technicality, then they can check your location and withhold the payment. So just be aware of that.

We know people break laws every day, eg. Speed limit / underage drinking and they get away with it, until one day when they get caught. Tax evasion carry heavy penalties, so just be aware of that, if you make use of these sites. 

[Red-Apple]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed. So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

in bitcoin, that doesnt matter...
it's easy to find way to convert it to FIAT without problems(P2P, bitcoin debit card) and unless it's a very(very) big jackpot you wont have any problem with your country laws. it's easy to justify the money.

except the part where they dont pay you 

the problem with that logic is that whenever you go through a third party like a debit card provider, you are publicly announcing to the government that you have moved a particular amount of money so there is no hiding there.

the only possible solution would be changing that won bitcoin to fiat through cash and in a dark alley

[Betwrong]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed. So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

Actually if you are playing in a Bitcoin casino there is no need (and even no option in most cases) to pay you in fiat. You withdraw your winnings in BTC and after that if you would do exchanges partially, not taking big amounts at once, you won't bring the attention of the authorities.

All of the above is just theoretically because you should win the JackPot first.

[hasiramasenju]

i do live in the country who doesn't allow all kind of gambling including online casinos indeed if i gamble using fiat and visiting physical casino that is not possible because there is no physical casino in my country but since i use my bitcoin for gamble i do not have any problem regarding my funds because usually if i won gamble i would safe my bitcoin into my personal wallet and if i want to change my bitcoin to my local currency i would use local exchange and because those exchange never figure out from where i got bitcoin so there is no problem using casinos online for gamble at least untill currently i'm still fine

[2double0]

Gambling is illegal in most countries, but the place where I live allows me to do it so I don't have to worry about it.
People who are not aware about gambling on such sites should know that when they convert their coins into Fiat, they actually need to pay taxes on them and hence, need to show where the money came from.

[newcripto]

I am fully aware of my local laws and there no such thing which forbid me playing gambling offline or online when it is to be done with fiat. Bitcoin is for everyone who currently are such problems along with those who can freely play. There is problem but still I am using bitcoin for online gambling because of the advantages of using it.

[letyouearn]

Just withdrawal for small amount, don't take it all of your jackpot, maybe cash out it for some price, means x amount for x price btc/usd and y amount for y price btc/usd.
Use mixer service, its make tracking transaction difficult.
Withdrawal to your local bank doesn't charge tax, if i'm not wrong.

Why not bro ? A day before yesterday, our prime minister has given us a very shocking surprise.  This news was really unexpected for Indians.  Pm bans the 500 inr and 1000 inr notes to blow away all the black money in India. 

[saiha]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed. So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

Here in my country, "online gambling" is literally online gambling that doesn't covers the bitcoin gambling websites. Because they are always referring to local currency and dollar paying gambling sites.

So usually, if you will gamble here in my country using bitcoin, you are not considered as violator of the law.

But the thing is, there are bitcoin exchange websites that doesn't accept bitcoin's from gambling websites and they might not process and ban your account upon tracing you.

[bajing]

For this case most of the country not allow online gambling even you can use local bank for deposit and withdraw but as i know not much country are allow you playing online gambling because trust is the key you must accept before you play online gambling if they are not paying you, nothing you can do for it.

[raaajlucky]

For this case most of the country not allow online gambling even you can use local bank for deposit and withdraw but as i know not much country are allow you playing online gambling because trust is the key you must accept before you play online gambling if they are not paying you, nothing you can do for it.

Yes, many countries ban online gambling, But in my country also online gambling is illegal but we can do it with Bitcoin, and we got some 3rd party companies to convert Bitcoin to local currency. They will deposit amount to our Bank account. Like this, we can convert BTC to fiat currency. Or else sell coins to green trust members and take payment through a paypal account.

[chixka000]

Back on the days. This online casinos before were usually not legal yet also not illegal in our country. They started growing  like a bunch of mushrooms but when we have our new president things started to change they are starting to hunt down those casinos and  one of the biggest online wallet/exchanger in our place started to get strict as well.

[RoommateAgreement]

I was just thinking about the people, signing up for online gambling without knowing the consequences of their actions. In many countries, online gambling are not allowed. So even if you win the $$JackPot$$ at these Bitcoin Casinos online, you would not be allowed to withdraw that money, legally into fiat.

A lot of these casinos knows this, but they still accept your bets. They do not have to pay you, if you signed up with their service.

So how many people know their laws and what is allowed in your country regarding online gambling?

i have been asking around about this because i do care about the laws of gambling and online gambling in my country and i don't want to encounter any troubles down the line. but i have not found anything conclusive about the online gambling and bitcoin which is good for me to make the plays and if i win take the money too.

[OrangeII]

I think that local laws will not apply to online gambling. Well, you play it in your house without the knowledge of a person, other than that you did was play games on the internet, but it might be a problem if you do it crowded, I believe that the law in your place would be valid if it is done together , such as cafes online gambling