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Author Topic: do bitcoin gambling sites need gambling licenses?  (Read 13058 times)
JLF1980
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November 18, 2014, 09:25:21 AM
 #1

am new to forum, I currently use mainstream sites like betfair but as looking to gamble my bitcoins but wondered if dice sites etc need a licensee, and should I steer clear of ones that don't?
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November 18, 2014, 09:31:04 AM
 #2

casinos will take your bitcoins so stay clear of all casinos
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November 18, 2014, 09:34:39 AM
 #3

It's probably a grey area in many places, but it will depend on the country you're in and the ones they're hosted in. I think (though not 100%) PD recently blocked access from one country due to laws and dooglus had to close up shop for a similar reason.

casinos will take your bitcoins so stay clear of all casinos

Well that depends on your opinion or luck with gambling  Cheesy.

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JLF1980
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November 18, 2014, 09:37:03 AM
 #4

betfair and others I use don't take bitcoin yet, but are licensed so do use them, but have bitcoins and wanted a similar site game wise that will be easy for me to use, but was worried how to tell if provably fair and regulated
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November 19, 2014, 01:18:06 PM
 #5

casinos will take your bitcoins so stay clear of all casinos

Well that depends on your opinion or luck with gambling  Cheesy.

Casino games are designed to give the house an edge. With the exception of very few games that actually combine skill with the luck of the draw (for example sports betting, blackjack, poker), no matter your opinion or "luck with gambling" you will lose money in the long run. That said, gambling can be fun and if you have the self-control to not gamble more than you can comfortably afford to lose I don't see any harm in it. Or at least, I think it's no worse than spending that same money on some other form of entertainment.

Back to OP's question, it probably depends on where the casino is. If they're operating in a jurisdiction where a casino license is required and if the law in that jurisdiction considers them to be an actual casino, they most likely need a license. As far as "provably fair" most of the "dice" gambling sites do have a way for you to verify after the fact that there's no way the house could have unfairly influenced the results. Most licensed and regulated online casinos don't give you that option, and no brick-and-mortar casino gives you that option although they typically do have government gaming officials come in and audit their random number generators from time to time.

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JLF1980
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November 19, 2014, 01:51:55 PM
 #6

thanks for the advice, will try a few out and see what happens
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December 01, 2014, 08:07:04 PM
 #7

nitrogen sports is the way to go

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December 01, 2014, 11:39:04 PM
 #8

in the U.S would a bitcoin dice site need a gambling license?

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December 02, 2014, 07:18:02 PM
 #9

in the U.S would a bitcoin dice site need a gambling license?

Not really unless a specific state had a law pertaining to just that.  Several online games that are considered as having gambling events will not even allow users from specific states to participate due to Certain state regulations.  If the coins aren't being transferred into usd currency as payout or payment at the gambling site (bitcoin payout and payment only site) then there are no state bitcoin gambling laws that i could find.  There are several online sites you can go to look up the laws governing online gambling on a state to state basis...it all starts at a search engine  Grin
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December 03, 2014, 01:59:33 PM
 #10

The Spanish treasury just issued a ruling that bitcoin based gambling sites need to obtain licences, saying:

"Ultimately, the bitcoin is a convertible virtual currency that can be exchanged between users and, likewise, be converted into dollars, euros, or other currencies both real and virtual. In consideration of the previously explained, the activity of betting with bitcoins is considered to be included within the definition of bets, it is therefore mandatory to obtain the general betting license and the corresponding singular license."

If the Spanish government now treats bitcoin as an electronic payment system within the context of gambling, it probably won't be long until other countries release similar statements.

http://www.coindesk.com/spain-cracks-bitcoin-gambling-loopholes/
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December 04, 2014, 11:00:33 PM
 #11

in the U.S would a bitcoin dice site need a gambling license?

Not really unless a specific state had a law pertaining to just that.  Several online games that are considered as having gambling events will not even allow users from specific states to participate due to Certain state regulations.  If the coins aren't being transferred into usd currency as payout or payment at the gambling site (bitcoin payout and payment only site) then there are no state bitcoin gambling laws that i could find.  There are several online sites you can go to look up the laws governing online gambling on a state to state basis...it all starts at a search engine  Grin

do you know if new jersey requires licenses for a bitcoin dice site?

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January 02, 2015, 02:18:46 PM
 #12

am new to forum, I currently use mainstream sites like betfair but as looking to gamble my bitcoins but wondered if dice sites etc need a licensee, and should I steer clear of ones that don't?

I am sure some of them do have a license. Recently, satoshibet shutdown to US customers, because of the laws .So legal aspects do affect them as well.
In the future, the laws might apply for these casinos . Currently, most of them run without licenses.

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January 02, 2015, 02:59:53 PM
 #13

am new to forum, I currently use mainstream sites like betfair but as looking to gamble my bitcoins but wondered if dice sites etc need a licensee, and should I steer clear of ones that don't?

I am sure some of them do have a license. Recently, satoshibet shutdown to US customers, because of the laws .So legal aspects do affect them as well.
In the future, the laws might apply for these casinos . Currently, most of them run without licenses.

I think no one of all Bitcoin casinos has a valid license. They are hosting offshore and could buzz off anytime.
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January 05, 2015, 08:23:20 PM
 #14

am new to forum, I currently use mainstream sites like betfair but as looking to gamble my bitcoins but wondered if dice sites etc need a licensee, and should I steer clear of ones that don't?

I am sure some of them do have a license. Recently, satoshibet shutdown to US customers, because of the laws .So legal aspects do affect them as well.
In the future, the laws might apply for these casinos . Currently, most of them run without licenses.

I think no one of all Bitcoin casinos has a valid license. They are hosting offshore and could buzz off anytime.
Thats absolutely true. Would be nice to have strict laws for this in future. But would be hard to.

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January 14, 2015, 07:58:45 PM
 #15

betfair and others I use don't take bitcoin yet, but are licensed so do use them, but have bitcoins and wanted a similar site game wise that will be easy for me to use, but was worried how to tell if provably fair and regulated

If you are looking for a Betfair alternative using bitcoins, you might definitely try www.betbtc.co

We are probably the most promissing dedicated Bitcoin Sports Betting Exchange around, we cover almost all features offered by betfair, we are working to have more features and also licence as well.

Check our official btctalk topic or go directly to our website.

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January 17, 2015, 03:54:34 PM
 #16

No let them do there business in private! Isn't that what bitcoin is about in the first place for the people not the government. I say stay out of our business and keep it tax free!
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April 07, 2015, 12:31:58 PM
 #17

I think that there is no need for license with bit coins.  Smiley
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April 07, 2015, 03:34:06 PM
 #18

I think that there is no need for license with bit coins.  Smiley

Actually there is. The way they operate right now is that an anonymous person operates the casinos, and in some of the investment sites they are in possession of over a million dollars. If they were licensed, they would be responsible if they run away with the funds. Would atleast be much better than having an anonymous person being in possession.

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April 08, 2015, 09:15:01 AM
 #19

I think that there is no need for license with bit coins.  Smiley

Actually there is. The way they operate right now is that an anonymous person operates the casinos, and in some of the investment sites they are in possession of over a million dollars. If they were licensed, they would be responsible if they run away with the funds. Would atleast be much better than having an anonymous person being in possession.


You are absolutely right. I haven't really thought about it. 
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April 08, 2015, 09:30:29 AM
 #20

No
it depends on your country and type of business
if you are running an online gambling site that deal with bitcoin only then i think you don't need any license or registration,
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