How will the possible ban on internet gambling in the US affect Bitcoin?

[Kakmakr]

By now most people have heard about this, https://www.bloomberg.com/news/articles/2019-01-15/u-s-now-says-all-online-gambling-illegal-not-just-sports-bets.

We all know that Crypto currency online gambling sites are rampant on the internet and it adds loads of demand for Crypto currency on the Internet.

Some of these sites are legal, but a large amount of them are operating illegally. The possible prohibition on internet gambling in the US will have a significant impact on the price of Crypto currencies that are used for gambling.

Do you think legal operations will close their doors and move underground?
Do you think it will only have a limited impact on Crypto currency prices?
Will these operations move to countries that allow online gambling?
Will online gambling evolve into illegal sites on the Darkweb?

Let's discuss. 

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[fakegurutu]

By now most people have heard about this, https://www.bloomberg.com/news/articles/2019-01-15/u-s-now-says-all-online-gambling-illegal-not-just-sports-bets.

We all know that Crypto currency online gambling sites are rampant on the internet and it adds loads of demand for Crypto currency on the Internet.

Some of these sites are legal, but a large amount of them are operating illegally. The possible prohibition on internet gambling in the US will have a significant impact on the price of Crypto currencies that are used for gambling.

Do you think legal operations will close their doors and move underground?
Do you think it will only have a limited impact on Crypto currency prices?
Will these operations move to countries that allow online gambling?
Will online gambling evolve into illegal sites on the Darkweb?

Let's discuss. 

with large amounts of gamblers residing in the USA, crypto market prices of some certain coins will really be shaken, a lot of changes will occur, however even if its going to be ban, people will still make a way to continue it by doing illegally like for example underground.

[Thanasis]

Once the people started to play regularly then it will be hard for them to restrict from gambling so the bets may happen in underground or on Dark web,until the people knows how to cash out their rewards without getting notified from the government then there will be no problem for the prices of cryptocurrencies.

[bitmover]

I think that many gamblers will continue to gamble on online Casinos anyway.
Most of them do not reside in the us, and even in us it's still possible.
You can gamble without any kyc, then just put your coins in a mixer to avoid being identified as an American

[avikz]

Do you think legal operations will close their doors and move underground?

Possibly yes! Online gambling operations are hard to catch and when it mixes with crytpocurrency, it make the operations and players more undetectable. I foresee that smaller operations will move underground and continue to operate and some of them will even move to darkweb to leave no trail of their operations.

Do you think it will only have a limited impact on Crypto currency prices?

I don't think there will be any price impact on cryptos due to this reason. A very minor percentage of cryptos currencies are involved into gambling business. The number is not very significant and hence I don't see any upcoming impact. yes, a temporary impact may be there that will not last long!

Will these operations move to countries that allow online gambling?

Yes, for bigger gambling operations! Small gambling websites will probably not be able to afford it but bigger gambling houses will definitely move their operations to other countries like Malta where gambling and cryptocurrency both are legal.

I think US is trying to save its offline gambling industry through these changes. Otherwise I see no good reason for suddenly changing its stance towards online gambling! Prohibiting interstate transaction is just a lame excuse!

[Pab]

No impact by my opinion
Most of bitcoin casinos don't ask for KYC and people very well know how to use VPN

[xWolfx]

It might definitely affect the price since the people who is more casual about it could potentially stop using the services if their favorite one goes down until it moves to another country, for example.

A lot of people do know how to use a VPN which is really easy today but that won't be necessary until blocked at another level which is something i personally saw the U.S. doing before, that sounds more like what oppressive kind of governments do.

I believe there will be a shake that will eventually come back to normal in case that happens.

[leowonderful]

Thank you for this post! I currently reside in the United States, sucks to see that crypto-based casinos will likely no longer allow US residents to gamble. Most online casinos will likely just stop allowing US IPs to access their site, but a simple VPN's likely enough to bypass this for most sites, and as for crypto prices, I don't really see any major price impact coming up soon. It's true that gambling anonymously is a large part of why many people use crypto, but I believe the number of people using crypto solely for gambling in the US is small enough that prices won't be moved by this.

[Juggy777]

By now most people have heard about this, https://www.bloomberg.com/news/articles/2019-01-15/u-s-now-says-all-online-gambling-illegal-not-just-sports-bets.

We all know that Crypto currency online gambling sites are rampant on the internet and it adds loads of demand for Crypto currency on the Internet.

Some of these sites are legal, but a large amount of them are operating illegally. The possible prohibition on internet gambling in the US will have a significant impact on the price of Crypto currencies that are used for gambling.

Do you think legal operations will close their doors and move underground?
Do you think it will only have a limited impact on Crypto currency prices?
Will these operations move to countries that allow online gambling?
Will online gambling evolve into illegal sites on the Darkweb?

Let's discuss. 

Hey that’s a sad news if you see it from USA residents point of view, but I don’t think that people from USA will stop playing at online gambling sites. I believe they’ll simply access these sites via VPN, and since they’ll be playing in crypto’s their income will be hidden. When it comes to prices i feel there won’t be any effects on it, also many online casinos are registered in countries which favour online casinos so don’t think anything will happen to their current way of operations.

[QuadsPoker]

I do not think it would affect the crypto industry much. The world doesn't contain USA only. There are plenty of people gambling that are outside Usa. There are millions of players gambling in Africa, europa and definatelly Asia as well. And we all know Asia contain the high roller gamblers.

[SyGambler]

IMO this is actually raise the demand for bitcoin and other crypto currencies
cause let's face it the majority of crypto casinos don't care about laws and you can easily access them and bet whatever you want through a VPN
so I guess that's good news for crypto overall , and maybe for mixers as well

[TimtheYoutuber]

I didn't even know this was a thing, most laws are impossible to get a good read on.

[mersal]

I do not think it would affect the crypto industry much. The world doesn't contain USA only. There are plenty of people gambling that are outside Usa. There are millions of players gambling in Africa, europa and definatelly Asia as well. And we all know Asia contain the high roller gamblers.

Yes you are absolutely right the thinking of negative way will always know as to the same side of negative thoughts but cryptocurrencies different from any other country currency so it can affect anything when it comes to the good level or it is in the same situation but it will not affect the US currency at anytime.

[proTECH77]

I didn't even know this was a thing, most laws are impossible to get a good read on.

Especially this type on ground. There will not be a possible situation, illegal gambling will be wipe and from the surface of the internet. The US government will not be able to raise a BAN on the world of cryptocurrencies/gambling.

[Ipwich]

This is for US only but crypto is for the entire world, I think the more they put a ban on internet gambling, the more people will find a way to gamble.

Some of these sites are legal, but a large amount of them are operating illegally.

I don't think it's right to call them illegal, they are operating because of lack of regulation and when there is no law to supervise this type of gambling then they are not tag as illegal. They are free to operate and the reason why they are increasing is because gamblers chooses a site that does not conduct KYC, where they can gamble anytime maintaining their anonymity.

[Kakmakr]

A lot of gambling operations will most probably shift their operations to some of these independent islands that open their arms for their business. A lot of bribes are paid for gambling licenses and the income generated at these casinos are also generating local income for the people that are hosting these operations. <Even if they are not brick n mortar operations>

These decisions just push people to relocate and to operate illegally. <Dual citizenship & clients have to use VPNs to access these sites>

[omonuyak]

I think it is going to affect cryptocurrencies market as the only aspects of cryptocurrencies that I have seeing succeeding is gambling and betting.  The icos system and projects are failing.  Traders has lose significant amounts because of the unexpected fall last year.

[Pffrt]

It will have bad impact on both cryptocurrency and the online gambling. Price will face a reduction because at least 1/10th of the real use of cryptocurrency is in gambling which means the real usage will drastically dropped. So, it will reduce the demand and eventually at the price. Also, gambling industry could have a great future but with the restriction, no chance of flourish.

[Thanasis]

It will have bad impact on both cryptocurrency and the online gambling. Price will face a reduction because at least 1/10th of the real use of cryptocurrency is in gambling which means the real usage will drastically dropped. So, it will reduce the demand and eventually at the price. Also, gambling industry could have a great future but with the restriction, no chance of flourish.

But all the crypto online gambling players were from USA for to cause the price reduction and even lot of people knows how to hide their identity while gambling online so government is only reduction their revenue from gambling not the players going to be.

[ethereumhunter]

Although the US government says internet gambling is illegal, the gambling game will continue and they will find out to figure out how to keep playing with safe. With the internet connection available in many places and with so many VPN that people can use, I am sure that they could still play even in the Darkweb. People could still use cryptocurrency as long as they can hide their IP from the US government scanner so they can play and place the bet.