Gambling Is Banned in Your Country? There’s Now a Legal Loophole

[abaeze]

Gambling is not banned in our country, so people here can play on the new prediction market. But if gambling is prohibited in one country and it has one site where its citizens can play legally, the country can, based on its existing laws, adjust its laws to include any platform that allows its citizens to play.
Because the government understands that if they allow one platform that lets their citizen play, then the gambling ban is useless

No matter how many prohibitions exist, it will always be a cat-and-mouse game, it will never end, because it's very easy for a casino to create a mirror of its website to attract more and more players. The ideal solution for this is taxes on casinos, because it maintains gambling and the state is happy collecting more taxes (although I am totally against this, the state interfering in people's fun).

The government can bring various rules and regulations to stop gambling, but gambling will never be completely stopped or cannot be done. No matter how strict the government brings in rules, gamblers will bet in any way, people actually think that gambling can be a quick way to make money, in fact this mentality can lead to a completely wrong direction. So no matter how hard the government tries, gambling will never be completely stopped.

[JunaidAzizi]

Yeah, that is an alternative way for those people in countries where gambling sites and casinos are banned, so they can bet in that way. However, when it comes into conflict with religion, this alternative also does not work because religion fully prohibits any kind of betting, and the same applies to the laws of the state. In my country, Kalshi does not work, if someone tries, they will be blocked directly, and if they use any kind of third-party access, they will face legal penalties if found.

[Hazink]

Kalshi and Polymarket are the new of legal betting. They know what they are doing and are indirectly taking the sports betting market away from the casinos. Now gambling can be banned in a country, but the citizens who know about Polymarket can still be a bettor practising engaging through other means. The ones who will be most affected are the slot players who have no room for them as such.

This is on gray area for now but any country with strict restrictions to gambling can include betting market as scope of their gambling restrictions law in the future once this loophole was heavily used to bypass their law.

Polymarket already have an issue about this on US before because they are trying to use this loophole so.

The title should specifically indicate that this is for sports betting only.

When something has been overused, the government will start to notice it, and they will try as much as they can to stop it. If Polymarket or any prediction platform indirectly provides the same service they ban, they will either ask them to stop or revoke their licensing unless they give it another name and definition which will make it appear like they are not promoting or serving what appears to be banned.

[uchegod-21]

Gambling is not banned in our country, so people here can play on the new prediction market. But if gambling is prohibited in one country and it has one site where its citizens can play legally, the country can, based on its existing laws, adjust its laws to include any platform that allows its citizens to play.
Because the government understands that if they allow one platform that lets their citizen play, then the gambling ban is useless

If a country bans gambling but still allows even one platform to operate legally, it creates a loophole big enough to undermine the entire ban. Once citizens have any legal access point, the restriction lose the  strength, and the government knows that. And that’s why many countries that ban gambling often try to regulate every platform that touches their citizens, even foreign ones.

You've made a valid point here. Gambling is gambling no matter what platform is used for that purpose. I just don't get it why the government will choose to monopolise only one gambling site while tagging the rest illegal. I am forced to believe that the one legal site is government owned 


The entire restriction thing is just pointless when the citizens still gamble freely. The government has only one option; it's either they restrict gambling completely or make gambling legal but regulate it properly. Anything far from these two options is totally pointless.

[lionheart78]

To be honest, I really admire countries where gambling is banned, because you can consider that as a sign that the leaders of that country have great concern for their citizens.
Meaning, the leader of the country manages it well.

This is only half the truth, most countries that bans gambling are influenced by their religion and not of the concern of their citizen.  You can search the internet on countries that banned gambling and will find out that it is in relation of that country's main religion.

Unlike here in our country, where the promotion of online gambling is widespread. What’s worse is that even illegal gambling is being promoted by useless influencers who promote
it here in our country. Their deceptive promotions are very rampant, and so many lives have already been ruined by gambling because of these social media influencers.

Hasn't your country already issued a notice on stopping these influencers who promote illegal gambling?  I read that these people who are involved in promoting illegal gambling will be punished according to the country's law.


It is quite brilliant to have an idea like this, making betting as an investment contract.  I wonder whether the regulatory board will patch up this loophole or just let it go since they are able to make money out of this go-around method.

[alegotardo]

I just saw a news story that surprised me and thought of sharing here...

According to this article, In some places where gambling is completely banned, people can still legally wager on sports without breaking any rules. It’s done through prediction markets, platforms that treat bets as “investment contracts” instead of gambling.

So even in places with the strictest anti-gambling laws, players can still legally bet on sports outcomes, spreads, and even non-sports events like elections or weather.
No VPN, no bypassing, no offshore sites, etc..... Just a legal workaround that fits under federal regulations.

For those living in countries where gambling is banned, check out if Kalshi is serving your area.

From what I've researched, this "legal shortcut" is actually more specific to the American scenario, right!? These companies register as a derivatives exchange, sell bets on sports and events as if they were regulated financial contracts and then try to escape gambling laws... in practice, you are betting on the results of a game, but with a legal label.

Here in Brazil, the problem was never the lack of a loophole to bet, but rather the gray market that allowed betting on offshore sites without any protection... nowadays we have regulations requiring licenses, taxes, advertising rules and some obligations to protect consumers. I think that should be the way forward... instead of looking for loopholes, try to pressure governments to regulate.

I think it is very dangerous to confuse gambling with a financial product, just as many people still confuse day trading and pyramid schemes with "guaranteed investments".

[LUCKMCFLY]

In my opinion, the country that banned gambling concluded that its leaders are stupid. If they allow sports betting, it's because there's a legal loophole in their laws , so I conclude that they are indeed stupid. If people in those countries can gamble, then let them have fun.