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

[michellee]

Maybe it could affect since that was considered as bad news for crypto but then even if they don't allow it, there are still ways to access the site. So for me, the effect won't be that much. Also not all players came from USA and owners can move into another country if they want to.

That is right, they will always find a solution to playing gambling, and I am sure with the easiest way to connect to any websites, they will not get any problem. Besides that, if the gambling websites are registered on the US, then maybe that sites need to pay some tax, and if the US government decides to ban the gambling websites, then I think they will lose big revenue from the gambling business, and that is not good news for them.

Well if it would have any effect at all, i doubt it'll be felt in general. Yeah crypto gambling probably contributes a lot but there are likely more crypto gamblers outside the us than in it. Crypto is so much more than just a gambling means so i think it'll be okay.

But I think they will considering to not banning online gambling because if they can take those profit from gambling, they will allow online gambling. Besides that, we could still play gambling using crypto, and I think we can use so many online gambling which using crypto. And crypto was not designed for only playing gambling.

[2double0]

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

If they do so, they will cut out a big piece of their revenues and throw it away.

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

Yes. Why are you thinking about adverse effects only?
Crypto is meant about anonymity and privacy, so crypto like XMR, Dash and other privacy-pegged coins will be used more because gambling is an addiction and nobody can prove this statement to be false. So who can save those gamblers, the real gamblers from gambling?

Will these operations move to countries that allow online gambling?

Quite possible because if they have alternatives nearby, why would they lose on their share of the revenue they are already getting in their field?

Will online gambling evolve into illegal sites on the Darkweb?

Yes, as I said before, there is a high possibility of gambling turning illegal at places where it will not be allowed so not to leave their customers in vain.

[FaireumOfficial]

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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Our team at Faireum is currently developing a platform that will create a paradigm shift in the online gambling industry and solve all aforementioned issues. Faireum will fully implement and run a blockchain-based ecosystem with its own set of protocols, where developers can publish their own Dapps with custom features to meet Online Gambling requirements. The ultimate goal of Faireum is to remove the risk inherent in traditional systems by making it decentralized, transparent and trustful.

[TheUltraElite]

But I think they will considering to not banning online gambling because if they can take those profit from gambling, they will allow online gambling.

Apparently the more casinos that appear which do not pay taxes the more the governments will try to ban the access to them. The government is like that - they want money from your gains and will do any method to extort money from your service. The casinos who pay taxes will get the upper hand here and possibly this will happen in future unless some other workaround is found. Defenitely the capital gains from the coin at the price against fiat would be used to calculate it.

Besides that, we could still play gambling using crypto, and I think we can use so many online gambling which using crypto. And crypto was not designed for only playing gambling.

Gambling sites and trading are the major expenses for the people in this forum.

[Ucy]

But I think they will considering to not banning online gambling because if they can take those profit from gambling, they will allow online gambling.

Apparently the more casinos that appear which do not pay taxes the more the governments will try to ban the access to them. The government is like that - they want money from your gains and will do any method to extort money from your service. The casinos who pay taxes will get the upper hand here and possibly this will happen in future unless some other workaround is found. Defenitely the capital gains from the coin at the price against fiat would be used to calculate it.

Besides that, we could still play gambling using crypto, and I think we can use so many online gambling which using crypto. And crypto was not designed for only playing gambling.

Gambling sites and trading are the major expenses for the people in this forum.

I see nothing wrong in casinos paying taxes if that is the case. It going to be tough to get the cryptocurrency based casinos taxed though. I guess if casino generate alot of traffic from the country the government could end up going after them.

[Indamuck]

Many players will just use a vpn so I don't think this will have any major effect.  USA is one of the few countries that is banning online gambling, they may end up changing their decision when they realize they may be losing tax revenue. 

[TheUltraElite]

just don't think it will affect gambling a lot as I don't think it will hit crypto websites but rather only Fiat casinos. May be in the future they will target crypto in the future but for the moment it should be safe crypto mixers can easily hide your identity with a simple VPN.

True that its very easy to hide yourself behind VPNs and so the ban is actually something that is not going to have an effect. Humans by nature are curious and there are hundreds of methods to circumvent bans to get to what you desire.

I see nothing wrong in casinos paying taxes if that is the case. It going to be tough to get the cryptocurrency based casinos taxed though. I guess if casino generate alot of traffic from the country the government could end up going after them.

Yes and I am sure they are following local rules for taxations following trades and goods. Now the governments are pure extortionists. They will acquire money off your profits by doing such things and though its not very effective but still it would end up with the owners having to shut down casinos or move their operation to more crypto-friendly locations. But crypto users are more or less accustomed to TOR and VPN so there is no problem as such.

[michellee]

But I think they will considering to not banning online gambling because if they can take those profit from gambling, they will allow online gambling.

Apparently the more casinos that appear which do not pay taxes the more the governments will try to ban the access to them. The government is like that - they want money from your gains and will do any method to extort money from your service. The casinos who pay taxes will get the upper hand here and possibly this will happen in future unless some other workaround is found. Defenitely the capital gains from the coin at the price against fiat would be used to calculate it.

Hahaha, you are right, I am sure that the governments will do whatever it takes to get the tax from tax. The government will protect the casino which can pay the tax on-time and they will make sure that the casino doesn't have any problem.

But I think they will considering to not banning online gambling because if they can take those profit from gambling, they will allow online gambling.

Apparently the more casinos that appear which do not pay taxes the more the governments will try to ban the access to them. The government is like that - they want money from your gains and will do any method to extort money from your service. The casinos who pay taxes will get the upper hand here and possibly this will happen in future unless some other workaround is found. Defenitely the capital gains from the coin at the price against fiat would be used to calculate it.

Besides that, we could still play gambling using crypto, and I think we can use so many online gambling which using crypto. And crypto was not designed for only playing gambling.

Gambling sites and trading are the major expenses for the people in this forum.

I see nothing wrong in casinos paying taxes if that is the case. It going to be tough to get the cryptocurrency based casinos taxed though. I guess if casino generate alot of traffic from the country the government could end up going after them.

I am not sure about that because I never search for information about that but I think they get the tax by secretly without any people knows

[mich]

Logically I believe this will help the price of BTC if internet gambling is banned in America.
Im not certain this will happen though since the individual states are now voting to legalize sports gambling.
I think that America is opening up the doors for internet gambling and not closing them.