Are There Any Regulations for Bitcoin Casinos?

[maydna]

i think there are no regulations for bitcoin casinos as we know that bitcoin is not already accepted by many country so i think the government is not take attention for this. so if someone create bitcoin casino, i think he can run his casinos without having a license but if the government makes a rule that every bitcoin casino owner must have a license then i think the owner will follow their procedure, but so far, i think there is no regulations for bitcoin casinos.

[avatar_kiyoshi]

Regulations for bitcoin casino is rarely because I think it's not mandatory, unless you live in the country which need have a regulations for your business(in this case bitcoin casino), for example spain.
I found an interesting article about regulations for bitcoin casino: https://www.bitcoingg.com/do-bitcoin-casinos-benefit-from-gambling-licenses/

*snip*

You can locate your online casino in Panama and you won't have anything that is closed to any kind of regulation!

That's right. Mostly bitcoin casino located in panama.

[FlightyPouch]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

There are countries that have regulations about gambling sites or casinos, some countries are looking for licenses, maybe deduct some taxes from it.
But mostly I think many gambling sites or casinos have regulations neither a license.

[bitcoinmasterlord]

Regulations for bitcoin casino is rarely because I think it's not mandatory, unless you live in the country which need have a regulations for your business(in this case bitcoin casino), for example spain.
I found an interesting article about regulations for bitcoin casino: https://www.bitcoingg.com/do-bitcoin-casinos-benefit-from-gambling-licenses/

*snip*

You can locate your online casino in Panama and you won't have anything that is closed to any kind of regulation!

That's right. Mostly bitcoin casino located in panama.

Yes the regulations and all depends on which country you are staying on that basis you have to pay tax to governament. In my country, if you want to run casino you have to pay tax for governament, and the tax should be very they will collect 50 - 60% tax amount from you. So we don't have many casinos in our country.

[xuan87]

some of the country has a strict regulation for gambling, but because the government hasn't made any declaration or regulation yet, i think there is still no regulation for bitcoin casino, but if you want to create a bitcoin casino, i will suggest you to create in the place that there is no strict regulation for creating a real casino

[J Gambler]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

First thing real casinos is assotiated with goverment where they getting tax from casino , even the govements are playing on casino some countries are ristricted where you can't even do business with gamblings if you really want a legal one then make sure that your regulation is good and if you do illegal one then pray that you will never be traced.

[adzino]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

It actually varies from country to country as far as i know. Some countries have strict regulation on gambling casino and others do not care as long as they don't use fiat currency. You will notice most of the casino hosts their casinos/games from another country where regulation isn't very much strict.

[megynacuna]

Restrictions for online Bitcoin casinos might be hard to implement as no singular country owns the Internet but physical casinos definitely have regulations within the country's they operate. Various nations may have sanctions against online Bitcoin casinos but their worst will be to block those websites and with the installation of (VPN) virtual private network I guess people can easily bypass those sanctions.

[Silberman]

Regulation... Bitcoin...
I repeat: regulation and bitcoin

The only answer that can come out after that is "no" ^^
You can locate your online casino in Panama and you won't have anything that is closed to any kind of regulation!

Casinos are not the same as bitcoin, bitcoin is decentralized so no one own bitcoin, but a casino is owned by a person or entity and it is subject to be prosecuted if they violate the law.

[bbc.reporter]

It depends on what country the gambling website is registered in. Since a lot of sites are registered in South american countries, I am sure they do have to follow some regulations. Which is also why some of the websites require proper verifications.
Do note that a lot of non-bitcoin casinos are also bitcoin-offering casinos and hence are regulated.

Do bitcoin casinos and sportsbooks need a license to start operating? I do not think they do. They can set up a site and start accepting bitcoins or any other cryptocoin. Nothing can stop them because of the peer to peer nature of cryptocurrencies. Because in regular online casinos what complicates the matter are the banks and payment processors. Bitcoin casinos do not have this problem.

[hatshepsut93]

Regulations are one of the reasons why legal casinos have much higher House Edge - 2,5-5% compared to 0,8-1,5% of Bitcoin casinos. Also, since Bitcoin casinos are provably fair, you don't need government regulations to guarantee that the game was fair. Of course there are other concerns, for example some Bitcoin casinos refused to pay promised jackpots or just big wins, sadly this can't be solved without regulation. Also the threat of exit scam is very real for any bitcoin business. So, sometimes regulations would be nice, but maybe there are some other ways to solve the problems, like escrows.

[iv4n]

Regulations are one of the reasons why legal casinos have much higher House Edge - 2,5-5% compared to 0,8-1,5% of Bitcoin casinos. Also, since Bitcoin casinos are provably fair, you don't need government regulations to guarantee that the game was fair. Of course there are other concerns, for example some Bitcoin casinos refused to pay promised jackpots or just big wins, sadly this can't be solved without regulation. Also the threat of exit scam is very real for any bitcoin business. So, sometimes regulations would be nice, but maybe there are some other ways to solve the problems, like escrows.

Government regulations can't guarantee nothing, it just mean that casino is paying taxes, they can have rigged games anyway.
Provably fair is better guarantee then government in my humble opinion, at least I have more trust in bitcoin and provably fair then in any government.
If you think about betcoin it was problem with provider, I think government regulations doesn't have nothing with that, same would happen in regular casino.

[bering]

bitcoin even still not regulations by government yet and how government consider would regulated the casinos indeed regulations could make the consumers more secure to facing scam casinos and maybe in the future casinos regulations will necessary

[Finestream]

bitcoin even still not regulations by government yet and how government consider would regulated the casinos indeed regulations could make the consumers more secure to facing scam casinos and maybe in the future casinos regulations will necessary

If the bitcoin casinos will be regulated, we will lost the interest to gamble anymore. There are plenty of gamblers where who prefer to bet on bitcoin casinos as there is no restriction being done here, they allowed us to use VPN to hide our real IP and bypass law restrictions.'
In addition, with the growing industry of bitcoin gambling, they can offer us different games and we can do it like 24/7.

[boyptc]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

There are some countries that aren't having any interest with bitcoin casino's because they are treating it as a null type of business. In short, if a country is not valuing bitcoin, they really don't care with it's businesses such as casino's. But it will depend on where the bitcoin casino is operating, also there are some countries that will require permit to operate.

[NorrisK]

There should be regulations for bitcoin casinos, however, the anonimty the internet and bitcoin provides makes it very difficult to enforce these regulations.

Also, as they are internet companies, they can basically register (if they are registered at all) in any country to avoid the ones with very strict regulations.

[Silberman]

Regulations are one of the reasons why legal casinos have much higher House Edge - 2,5-5% compared to 0,8-1,5% of Bitcoin casinos. Also, since Bitcoin casinos are provably fair, you don't need government regulations to guarantee that the game was fair. Of course there are other concerns, for example some Bitcoin casinos refused to pay promised jackpots or just big wins, sadly this can't be solved without regulation. Also the threat of exit scam is very real for any bitcoin business. So, sometimes regulations would be nice, but maybe there are some other ways to solve the problems, like escrows.

Government regulations can't guarantee nothing, it just mean that casino is paying taxes, they can have rigged games anyway.
Provably fair is better guarantee then government in my humble opinion, at least I have more trust in bitcoin and provably fair then in any government.
If you think about betcoin it was problem with provider, I think government regulations doesn't have nothing with that, same would happen in regular casino.

Yes governments regulations don’t mean a thing, getting certified by the governments only means they are paying their taxes and probably not much than that, some governments like the US government may take more actions to protect the players but you should not expect that in every country.

[blackhawkeye1912]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

In bitcoin casino in my side of opinion, since bitcoin is unregulated type, it means bitcoin casino online is not control by any of the government in each country.

[freedomgo]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

In bitcoin casino in my side of opinion, since bitcoin is unregulated type, it means bitcoin casino online is not control by any of the government in each country.

Exactly that's why we can see there's plenty of online casinos who are operating now and they can do it easily. If you seek for the approval of the government, it will really take time and you have no assurance you will be approve. Since it's unregulated, it also gives us a good experience in gambling as they are not strict with the KYC thing.

[pinkpanther03]

Are there any regulations or oversight for bitcoin casinos? I think for other online casinos where you have to deposit genuine money, there are some government regulations regulating these casinos. How about bitcoin casinos?

as far as I know in any online site there is a regulations that need to be followed, in bitcoin casino I just didn't noticed if there is a regulation about in playing in the casino. Because most of the time when I sign up in the gambling site more on username and password only, maybe in land  based casino there is policies need to do.