How many of us are interested in Sports Betting ?

[RocketSingh]

I was planning to launch a sports betting site using BTC. Would u like to participate ?

[roslinpl]

I was planning to launch a sports betting site using BTC. Would u like to participate ?

if it will be good perhaps yes. If it will be bad .. then not


It if hard to create good betting site and I hope you realize it.
Good luck with your project.

Let us know about any updates.

[kittucrypt]

I was planning to launch a sports betting site using BTC. Would u like to participate ?

depends on many things. what sports? what jurisdiction? who will be running the book?

In India, betting is illegal. If it comes to notice of RBI and likes that BTC is being used for sports betting with participation from India, it will only complicate matters for its widespread acceptance in India.

[Benson Samuel]

I was planning to launch a sports betting site using BTC. Would u like to participate ?

I can help a bit with the UI, etc...
You can also use http://coinsecure.in/this-wallet/ for the payments . I had originally designed it for a gaming website.

[RocketSingh]

Thank you everyone for voicing your opinion. I'm planning to start off with an IPL betting thread and take account of the participation before developing the website. I believe local laws are not going to be a hindrance here, because...

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.

Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

[kittucrypt]

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

Sports betting is illegal in India. Doesn't matter if you can influence the game or not. Betting & Gambling is illegal in India. Period.

By linking BTC to betting in India, you are only going to make it harder for it to go mainstream.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.
Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

Again...anonymous betting being facilitated by BTC....I don't think it would go down well with authorities, if they ever find out.

Overall, the idea is not bad. Just watch your back. If RBI can choose to hunt down the exchanges, betting will surely attract their ire!

[RocketSingh]

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

Sports betting is illegal in India. Doesn't matter if you can influence the game or not. Betting & Gambling is illegal in India. Period.

By linking BTC to betting in India, you are only going to make it harder for it to go mainstream.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.
Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

Again...anonymous betting being facilitated by BTC....I don't think it would go down well with authorities, if they ever find out.

Overall, the idea is not bad. Just watch your back. If RBI can choose to hunt down the exchanges, betting will surely attract their ire!

I have a few questions...

1. Instead of BTC, if I chose the medium of bet as hen, then also is it illegal ? I still doubt if betting with anything except FIAT comes under any regulation.

2. @Benson Can u please PM me my IP u see as Mod ? I want to know how far I'm traceable.

[Benson Samuel]

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

Sports betting is illegal in India. Doesn't matter if you can influence the game or not. Betting & Gambling is illegal in India. Period.

By linking BTC to betting in India, you are only going to make it harder for it to go mainstream.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.
Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

Again...anonymous betting being facilitated by BTC....I don't think it would go down well with authorities, if they ever find out.

Overall, the idea is not bad. Just watch your back. If RBI can choose to hunt down the exchanges, betting will surely attract their ire!

I have a few questions...

1. Instead of BTC, if I chose the medium of bet as hen, then also is it illegal ? I still doubt if betting with anything except FIAT comes under any regulation.

2. @Benson Can u please PM me my IP u see as Mod ? I want to know how far I'm traceable.

We have a request process to identify multiple accounts. Only site admins like theymos have access to the IP's.
As far as I can see if this is illegal, then it is off the forums. So please state your intentions.

Else, Bitcoin is unregulated and this is as harmless as betting a pen or a book amongst friends and a community.

[kittucrypt]

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

Sports betting is illegal in India. Doesn't matter if you can influence the game or not. Betting & Gambling is illegal in India. Period.

By linking BTC to betting in India, you are only going to make it harder for it to go mainstream.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.
Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

Again...anonymous betting being facilitated by BTC....I don't think it would go down well with authorities, if they ever find out.

Overall, the idea is not bad. Just watch your back. If RBI can choose to hunt down the exchanges, betting will surely attract their ire!

I have a few questions...

1. Instead of BTC, if I chose the medium of bet as hen, then also is it illegal ? I still doubt if betting with anything except FIAT comes under any regulation.

2. @Benson Can u please PM me my IP u see as Mod ? I want to know how far I'm traceable.

Ok let me ask you one counter question, have you seen any legal/gambling service in India except for State Lottery? Any casinos? Horse races?

Nope..right? That's because any form or betting is illegal. BTC can easily be linked to having financial value. You will be in trouble buddy if someone reports and track you down.

Now, I dont mean to say you cant do it. There are ways...but not in your current format

[kittucrypt]

1. We will only be dealing with bitcoin and not FIAT. AFAIK bribing is crime, not betting within a community that cant influence a game.

Sports betting is illegal in India. Doesn't matter if you can influence the game or not. Betting & Gambling is illegal in India. Period.

By linking BTC to betting in India, you are only going to make it harder for it to go mainstream.

2. None of the player's identities are required. Bitcoin addresses will be used as identifier.
Soon i'll be posting a thread detailing the steps of operation. Please keep us updated with your feedback...

Again...anonymous betting being facilitated by BTC....I don't think it would go down well with authorities, if they ever find out.

Overall, the idea is not bad. Just watch your back. If RBI can choose to hunt down the exchanges, betting will surely attract their ire!

I have a few questions...

1. Instead of BTC, if I chose the medium of bet as hen, then also is it illegal ? I still doubt if betting with anything except FIAT comes under any regulation.

2. @Benson Can u please PM me my IP u see as Mod ? I want to know how far I'm traceable.

We have a request process to identify multiple accounts. Only site admins like theymos have access to the IP's.
As far as I can see if this is illegal, then it is off the forums. So please state your intentions.

Else, Bitcoin is unregulated and this is as harmless as betting a pen or a book amongst friends and a community.

It can be harmless as long as he is not trying to make a business out of it. As long as he is small..with small amounts..

But OP must be aware...he does run the risk...just because he is in India...

If RBI can hunt down harmless and honest exchanges in India, I would be very very careful with a betting shop.

[Benson Samuel]

From what I understand, keep your servers, etc in a country that is fine with gambling. Remember, No Bitcoin  gambling site has been questioned till date.

So, what is your suggestion kittucrypt? Shut down all exchanges and businesses until someone says 'ok, please proceed'?
The RBI did not hunt down exchanges in India, it was the IT department. And those exchanges were converting BTC to INR, which is another ball game altogether. They raided them on suspicions and have now backed away completely from the picture.

The RBI have confirmed that they are not the authority about Bitcoin in a letter to Laxmicoin. They have asked them to ask other government agencies, without mentioning which ones. So, another dead end.

Online Gambling is in a grey area in India and although it has ties to the IT act, it cannot be enforced. It is my understanding that several states will open out regulated gambling areas by the end of next year. It is a state sponsored law, not a central law.

[kittucrypt]

From what I understand, keep your servers, etc in a country that is fine with gambling. Remember, No Bitcoin  gambling site has been questioned till date.

So, what is your suggestion kittucrypt? Shut down all exchanges and businesses until someone says 'ok, please proceed'?
The RBI did not hunt down exchanges in India, it was the IT department. And those exchanges were converting BTC to INR, which is another ball game altogether. They raided them on suspicions and have now backed away completely from the picture.

The RBI have confirmed that they are not the authority about Bitcoin in a letter to Laxmicoin. They have asked them to ask other government agencies, without mentioning which ones. So, another dead end.

Online Gambling is in a grey area in India and although it has ties to the IT act, it cannot be enforced. It is my understanding that several states will open out regulated gambling areas by the end of next year. It is a state sponsored law, not a central law.

Nopes..I never said shut down any of the businesses. However the fact remains that none of those businesses have come back up(as yet). At the same time a FEMA act violation (for which buysellbitco.in guys were charged) and an illegal gambling operations are two different things altogether.  gambling is a criminal punishable offense. It has nothing to do with BTC. Even if OP was asking about runnning a IPL betshop for exchanging Parker Pens, I would have still advised caution. He can choose to take my suggestion and throw it in the bin. That's his call.

You are right about online gambling being a grey area. So has been FX trading. Many businesses had to change their course of action when RBI came cracking on their door. (Google Alpari India).  Trust me I have been burnt more than once because of the so called "grey area". All I want to do is make sure OP does not take it as a walk in the park and is extra cautious.

By all means I like the idea and am ready to help build it up.

[Benson Samuel]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

[RocketSingh]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

[Benson Samuel]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

I would rather not hold escrow on this one. Hope that is alright.

Horse betting and stock markets that are controlled by the state. Anyone else who tries it does it outside the law.

[rohnearner]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

I would rather not hold escrow on this one. Hope that is alright.

Horse betting and stock markets that are controlled by the state. Anyone else who tries it does it outside the law.

This is reasonable..! does it also mean that whoever does it or indulges in this kind of betting is breaking the Law.

[Benson Samuel]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

I would rather not hold escrow on this one. Hope that is alright.

Horse betting and stock markets that are controlled by the state. Anyone else who tries it does it outside the law.

This is reasonable..! does it also mean that whoever does it or indulges in this kind of betting is breaking the Law.

No, because they are run by the state. There are race courses and stock exchanges all over the country which are run/ overseen by the government.
These are legal gambling avenues.

[bitkanu]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

I would rather not hold escrow on this one. Hope that is alright.

Horse betting and stock markets that are controlled by the state. Anyone else who tries it does it outside the law.

This is reasonable..! does it also mean that whoever does it or indulges in this kind of betting is breaking the Law.

No, because they are run by the state. There are race courses and stock exchanges all over the country which are run/ overseen by the government.
These are legal gambling avenues.

if you see these days IPL is good platform for betting its legal for team sponsors 

[rohnearner]

Buysellbitco.in guys were charged with nothing. It was a false article that published that.

Looks like OP got spooked and vanished

@Benson I'm not vanished and very much here ...Would u like to do the escrow for https://bitcointalk.org/index.php?topic=576688.0 or you think I should take it outside the forum ? I'm not very much aware of this forum's rules & regulations. So its good if u plz guide.

@kittucrypt Horse betting is not illegal... Vijay Mallya does it in India. http://www.outlookindia.com/article.aspx?202931

More info: http://en.wikipedia.org/wiki/Gambling_in_India

p.s. I think our commission will be so low in INR value and that would not bother any of the authorities, like it was for the exchanges. Moreover, I have no intention to convert those coins to INR.

I would rather not hold escrow on this one. Hope that is alright.

Horse betting and stock markets that are controlled by the state. Anyone else who tries it does it outside the law.

This is reasonable..! does it also mean that whoever does it or indulges in this kind of betting is breaking the Law.

No, because they are run by the state. There are race courses and stock exchanges all over the country which are run/ overseen by the government.
These are legal gambling avenues.

if you see these days IPL is good platform for betting its legal for team sponsors 

Even they got caught after Lalit modi resigned..! Rajasthan Royals co-owner  Kundra was found guilty of betting on matches..! but he explained that he has citizenship of UK and betting is legal there so " Not Guilty "