[2014-12-27] BTCFEED → The Hidden Problems Behind Online Bitcoin Gambling

[m3]

Gambling is a very wide topic to be talking about. Gambling can mean anything from the everyday Ponzi schemes you see, to betting games, or even giving out loans. Most advanced Bitcoin users know that gambling games are one of Bitcoin’s biggest table legs, foundations in terms of stability. Gambling is what brought in big numbers of users to Bitcoin, and is what keeps a lot of users into Bitcoin. But nobody has ever looked at it as a whole, and bothered to spot the issues circling the subject.

Full Article below

http://www.btcfeed.net/educational/hidden-problems-behind-online-bitcoin-gambling/

[nerdydev]

The number one reason people use Bitcoin is the ease of access. How else can you get into your bedroom, flick on your monitor, and start playing some roulette for real money?

The author of the article seems to believe that gambling with bitcoin online is some how easier than gambling with fiat currency online. In my opinion the opposite is true. There are many online casinos that make it very easy for any one to get access and start playing with fiat simply by simply using a debit/credit card or even paypal. This is much more simple than having to first get bitcoin in order to spend them.

The article then starts talking about how this ease of use could make it easier to get addicted to gambling. It may be my English up bringing where small stakes gambling is available to all ages in arcades but I believe any one that is liable to get addicted to gambling is going to any way even if it was outlawed completely. All online casinos may be accessed by anyone if they so wished so blaming bitcoin for causing gambling addiction is daft!

[kjlimo]

The number one reason people use Bitcoin is the ease of access. How else can you get into your bedroom, flick on your monitor, and start playing some roulette for real money?

The author of the article seems to believe that gambling with bitcoin online is some how easier than gambling with fiat currency online. In my opinion the opposite is true. There are many online casinos that make it very easy for any one to get access and start playing with fiat simply by simply using a debit/credit card or even paypal. This is much more simple than having to first get bitcoin in order to spend them.

The article then starts talking about how this ease of use could make it easier to get addicted to gambling. It may be my English up bringing where small stakes gambling is available to all ages in arcades but I believe any one that is liable to get addicted to gambling is going to any way even if it was outlawed completely. All online casinos may be accessed by anyone if they so wished so blaming bitcoin for causing gambling addiction is daft!

You must not live in the United States... Where it is difficult to gamble online with fiat.

[hilariousandco]

Yeah, how easy it is to gamble online will depend on the country you are in. Some places it's banned completely whereas others it is heavily regulated. It is quite easy to gamble in the UK but you have to give them your address and a lot of personal details which you don't with bitcoin at the moment (though this will likely change with regulations etc (especially if they want to operate in certain countries)), so in that respect gambling with bitcoin makes it much easier currently.

[nerdydev]

You must not live in the United States... Where it is difficult to gamble online with fiat.

How do they restrict it then? just a mass dns ban on sites that offer gambling?

Yeah, how easy it is to gamble online will depend on the country you are in. Some places it's banned completely whereas others it is heavily regulated. It is quite easy to gamble in the UK but you have to give them your address and a lot of personal details which you don't with bitcoin at the moment (though this will likely change with regulations etc (especially if they want to operate in certain countries)), so in that respect gambling with bitcoin makes it much easier currently.

But ther is nothing stopping you using fake information, theirs no postal confirmation or anything like that before you start playing.

[hilariousandco]

You must not live in the United States... Where it is difficult to gamble online with fiat.

How do they restrict it then? just a mass dns ban on sites that offer gambling?

The sites will have to block IPs coming from certain countries. I know UK sites like William Hill block access from certain foreign countries where gambling is illegal, though I also believe PrimeDice doesn't allow users to enter from Australia anymore (I think) because of legal reasons (which is funny because I think Stunna is Australian). You can still use tor or proxies to get around restrictions though.

[kjlimo]

You must not live in the United States... Where it is difficult to gamble online with fiat.

How do they restrict it then? just a mass dns ban on sites that offer gambling?

Yeah, how easy it is to gamble online will depend on the country you are in. Some places it's banned completely whereas others it is heavily regulated. It is quite easy to gamble in the UK but you have to give them your address and a lot of personal details which you don't with bitcoin at the moment (though this will likely change with regulations etc (especially if they want to operate in certain countries)), so in that respect gambling with bitcoin makes it much easier currently.

But ther is nothing stopping you using fake information, theirs no postal confirmation or anything like that before you start playing.

My understanding, is that if the company allows a US user to gamble on their website illegally, then the US Govt will come shut them down... so if the gambling site wants to remain open, they must block the US IP addresses, or risk getting shutdown by the overreaching US Govt.

I'm not saying it's right, I'm just saying I think that's what happens... 

So  the end result is that most internationally gambling sites avoid US users.  The ones based in the US don't exist because it's illegal.. hence, it's difficult.

If you're caught or suspected of using proxy/VPN/tor, they try their best to ban you to not get shut down.