BitcoinSolutions.com (OP)
Jr. Member
Offline
Activity: 80
Merit: 1
|
|
January 05, 2015, 09:18:39 AM |
|
I live in USA. I want to create a Bitcoin gambling website on my domain name WinBitcoins.com
Some simple game like... 11 people send me .1 BTC each to play. I pick one random winner and pay out 1 BTC and keep .1 BTC
Is this considered gambling and is it legal or illegal in USA?
|
|
|
|
lightlord
Donator
Legendary
Offline
Activity: 3228
Merit: 1226
★Bitvest.io★ Play Plinko or Invest!
|
|
January 05, 2015, 10:29:37 AM |
|
The problem is, you benefit more if you keep all 11 people's .1 instead of taking .1 for yourself. We have to trust that you won't run away and be legit. All that for very low RTP. Unless you did escrow, or so. What stops you from just running away creating a new newbie account and banking 11 times more? And you only created your account like 23 mins before your OP I live in USA. I want to create a Bitcoin gambling website on my domain name WinBitcoins.com
Some simple game like... 11 people send me .1 BTC each to play. I pick one random winner and pay out 1 BTC and keep .1 BTC
Is this considered gambling and is it legal or illegal in USA?
|
|
|
|
bitbaby
|
|
January 05, 2015, 01:24:21 PM |
|
There is the trust issue as already explained above plus not many people would be interested in this. It's much easier and entertaining for them to play on so many different gambling sites offering so many games.
|
|
|
|
ComboChris
|
|
January 05, 2015, 02:05:47 PM |
|
As far as i know online gambling is a legal problem in the USA, furthermore there is really no point for people to gamble on your site if you don't provide anything new and revolutionary. Otherwise everbody would just make their own online casino.
|
|
|
|
Testing123
|
|
January 05, 2015, 02:46:54 PM |
|
Other than the trust and legal issue mentioned already, you have to thing of a provably fair scheme to pick the winner, and lower your house edge % significant, or you cannot be able to attract players.
|
|
|
|
Stars
|
|
January 05, 2015, 02:54:57 PM |
|
Other than the trust and legal issue mentioned already, you have to thing of a provably fair scheme to pick the winner, and lower your house edge % significant, or you cannot be able to attract players.
This. Why would anybody play with your extremely high house edge when they can play with a 1% house edge at places that have already proven there legitimacy?
|
|
|
|
NeuroticFish
Legendary
Offline
Activity: 3836
Merit: 6557
Looking for campaign manager? Contact icopress!
|
|
January 05, 2015, 03:01:34 PM |
|
I'd say that it is clearly gambling. As people has already stated, your "example" game has a lot of flaws, I really hope that it's not the game you actually intend to provide.
Now, if you indeed have a good game to offer, I think that you should ask again, maybe on another thread, about the laws related to this (I am not from US and I cannot help); maybe registering (another) site in Cayman Islands fixes the problem :p
|
|
|
|
Omikifuse
Legendary
Offline
Activity: 1834
Merit: 1009
|
|
January 05, 2015, 03:27:30 PM |
|
Yes it is probably illegal.
But it is small fish, so if you don't shout you are from US and don't disclose personal info hen I think you will have no problem. I guess the FBI would not bother to make Theymos reveal your IP and stuff.
About the game: I would lower the minimum investment and the house edge. Maybe by giving lower rewards too?
About trust: if everything is doing using escrow, including the way of selecting winner, I think trust won't be an issue
But still need to think about a fair way of selecting the winner
|
|
|
|
Snail2
Legendary
Offline
Activity: 1512
Merit: 1000
|
|
January 05, 2015, 04:18:23 PM |
|
As I seen there aren't too much interest in raffle like games here, so probably you would struggle to find players. Not to mention that not much ppl would bet 0.1 BTC with such slim chances to win.
|
|
|
|
KeyserSozeMC
|
|
January 05, 2015, 04:20:01 PM |
|
I live in USA. I want to create a Bitcoin gambling website on my domain name WinBitcoins.com
Some simple game like... 11 people send me .1 BTC each to play. I pick one random winner and pay out 1 BTC and keep .1 BTC
Is this considered gambling and is it legal or illegal in USA?
So, 90% of people should pay you to lose in other words? Or what if you or some of your buddies is the "winner"? Wake up. That's robbing.
|
Hey, smexy. Don't waste your time. Time's precious.
|
|
|
philiveyjr
Legendary
Offline
Activity: 840
Merit: 1000
|
|
January 06, 2015, 12:17:15 AM |
|
I live in USA. I want to create a Bitcoin gambling website on my domain name WinBitcoins.com
Some simple game like... 11 people send me .1 BTC each to play. I pick one random winner and pay out 1 BTC and keep .1 BTC
Is this considered gambling and is it legal or illegal in USA?
So, 90% of people should pay you to lose in other words? Or what if you or some of your buddies is the "winner"? Wake up. That's robbing. I agree with the robbing part! the idea is pretty ridiculous in itself!!
|
|
|
|
Reynaldo
Legendary
Offline
Activity: 1143
Merit: 1000
|
|
January 06, 2015, 12:42:03 AM |
|
I've made this kind of game, still finishing the design, i hope you'll enjoy it as soon as i release it with my partner
|
|
|
|
zetaray
|
|
January 06, 2015, 05:15:40 AM Last edit: January 07, 2015, 08:55:17 AM by zetaray |
|
The game play is irrelevant. If it is gambling, it is illegal if you do not have a licence. Unless you host it in a country where online gambling do not need a licence, keep all the funds separate and hidden, you might be able to get away with it, but still illegal.
|
|
|
|
NUFCrichard
Legendary
Offline
Activity: 1218
Merit: 1003
|
|
January 06, 2015, 09:49:29 AM |
|
I agree that you need a licence to run a gambling site. There are probably ways around it, like have 10 people donate money with one getting a 9x money back special, but it's still dodgy
|
|
|
|
ndnh
Legendary
Offline
Activity: 1302
Merit: 1005
New Decentralized Nuclear Hobbit
|
|
January 06, 2015, 09:59:46 AM |
|
Question is about licensing and legality and half the people here talk about the raffle he is thinking of providing.
Well, I admit, the part is boring. especially with the 10% edge. Legality depends on country. And you need a license.
|
|
|
|
Criterion
Member
Offline
Activity: 73
Merit: 10
|
|
January 06, 2015, 10:14:03 AM |
|
Question is about licensing and legality and half the people here talk about the raffle he is thinking of providing.
Well, I admit, the part is boring. especially with the 10% edge. Legality depends on country. And you need a license.
Exactly. Also keep in mind that a license can be somewhat expensive.
|
|
|
|
BitCoinNutJob
Legendary
Offline
Activity: 1316
Merit: 1000
|
|
January 06, 2015, 10:35:49 AM |
|
I live in USA. I want to create a Bitcoin gambling website on my domain name WinBitcoins.com
Some simple game like... 11 people send me .1 BTC each to play. I pick one random winner and pay out 1 BTC and keep .1 BTC
Is this considered gambling and is it legal or illegal in USA?
wouldnt risk stuff like this in the USA, run the website from outside the US if needed.
|
|
|
|
Tschai
|
|
January 06, 2015, 10:38:50 AM |
|
Question is about licensing and legality and half the people here talk about the raffle he is thinking of providing.
Well, I admit, the part is boring. especially with the 10% edge. Legality depends on country. And you need a license.
Exactly. Also keep in mind that a license can be somewhat expensive.Approx 40K/50K euros in the Netherlands...!!!!!!
|
|
|
|
ComboChris
|
|
January 06, 2015, 12:10:42 PM |
|
Question is about licensing and legality and half the people here talk about the raffle he is thinking of providing.
Well, I admit, the part is boring. especially with the 10% edge. Legality depends on country. And you need a license.
Exactly. Also keep in mind that a license can be somewhat expensive. Also you shouldn't underestimate the time and cost it would take to make a company, since you would most certainly need a company if you wanna handle reasonable amounts of cash. Additionally you will probably have to pay higher taxes than usually since most countrys have an additional gambling tax. That's also the reason, why most bitcoin gambling sites simply choose the easy and illegal path.
|
|
|
|
brownboy
Newbie
Offline
Activity: 6
Merit: 0
|
|
January 06, 2015, 02:20:44 PM |
|
no law against bitcoins gambling but still it said to illegal....
|
|
|
|
|