Is Bitcoin Gambling Legal In The Us

Is Bitcoin gambling legal in the us is a decentralized digital nowness without a center bank or single administrator that can make up sent from user to somebody on the peer-to-peer bitcoin intercommunicate without the need for intermediaries. The Bitcoin blockchain has been allowed to scale massively with BSV, as it was always intended to, and it’s capable of handling the massive volume a gambling business creates. Furthermore, BSV has.

• Is Bitcoin Gambling Legal In The Us Economy
• Is Bitcoin Gambling Legal In The Us States
• Is Bitcoin Gambling Legal In The Usa

1. The legal status of bitcoin (and related crypto instruments) varies substantially from state to state and is still undefined or changing in many of them. Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications.
2. The Situation of Bitcoin Gambling In The US While some users may not be too bothered about the legal status of bitcoin gambling in the United States, the topic is well worth looking into.
3. Legal bitcoin gambling is actually not considered unlawful in most of the United States despite the popular opinion of online gambling. It’s a fact that there are more states in the US that have legalized and state regulated the operation of online gambling websites than there are states that have condemned their use entirely.

Is Bitcoin Gambling Legal In The US?

To answer this question, we need to understand what the current laws say about online gambling in the United states. In a nutshell, there are no federal laws that specifically make online gambling illegal in the United States from a players perspective. Anyone that tells you differently is either lying to you or doesn't know what they are talking about. The laws make it illegal to accept bets on US soil such as what a local bookie running an illegal website might be doing. But the laws do not make the act of placing bets illegal. This is the very reason why all the bitcoin gambling sites are located offshore so they don't run afoul of U.S regulations. You can learn more on our bitcoin gambling laws page.

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Main Areas Of Gambling We Cover On LegalBitcoinGambling.com

Bitcoin Basics, Bitcoin Gambling Benefits And FAQ's

Benefits and answers to frequently asked questions about Bitcoin, gambling and legalities for US players.

Bitcoin was created in 2009 by an anonymous group of programmers that go by the name of Satoshi Nakamoto. Bitcoin is a peer-to-peer payment system that is decentralized and works on blockchain technology. It’s basically digital money that has varying value that goes up and down almost every day of the week.

The blockchain is what makes Bitcoin what it is. The Blockchain is basically a digital record of all the bitcoin transactions that take place. All transactions are recorded chronologically in the public ledger so everyone can see them. You can think of it as an ever-updating spreadsheet that has been duplicated millions of times across the entire network computers that have dealt with bitcoin transactions. There is no individual location for the blockchain database which makes it incorruptible.

The market. Bitcoin is not backed by any physical asset or good and can’t be traced back to anything that has any real-world value. The value of each bitcoin is set by the other people in the world that are willing to pay that amount. The value increases and decreases based on the value that other people have set on the individual bitcoin. That desire is measured by the transactions listed in the blockchain and how they relate to the way bitcoins are bought and sold. Currently, the value of 1 bitcoin is set to over $3000 USD.

In terms of storage bitcoin gives you many options. Storing small amounts of bitcoin on the exchange where you bought isn’t a bad idea but it comes with some things you should know. Exchanges are big targets for hackers looking to steal bitcoin from members and this has happened pretty frequently to various exchanges around the world since the creation of Bitcoin. A better solution would be to transfer your bitcoin to an off-exchange bitcoin wallet. Online wallets are safer but still susceptible to hacking, these wallets can be accessed from anywhere you can find an internet connection. Hardware wallets are much safer. These are physical devices that are designed specially to secure your private keys and keep them safe. Devices like read only USB drives that you can plug in and use like cash through online stores are hardware wallets.

Once you have successfully registered at an exchange, bought bitcoin and then decided which wallet you want to store it in, the next step is transferring to your favorite online gambling website. Most of the time this is done the same way you transferred your bitcoin from the exchange to your wallet. You will be provided with a wallet address. You can use that address in online gambling websites to make deposits for any amount of bitcoin you desire.

While bitcoin is not completely anonymous due to the fact that you can track the history of a bitcoin address, it is pseudo-anonymous. Think of it like writing under a pseudonym name. Nobody knows who who specifically is tied to a bitcoin address. But if they ever did find out, they would be able to see the entire history of that particular address.

An example would be transferring money to your coinbase account and requesting a fiat withdrawal. Because bitcoin would have the address you sent the funds from, in theory they could track your history through that address. It's a very generic example but it should give you a general idea on anonymity of bitcoin.

Some of the bitcoin gambling sites allow players to gamble without even registering. This is a very nice feature for obvious reasons.

Nearly all of the bitcoin gambling sites offer very attractive bonuses to new players. This is mainly due to the fact that online gambling is extremely lucrative and all the sites are competiting with one another for your business.

The sites we recommend are all licensed and heavily regulated to ensure fair gambing and business practices. So while there are thousands of sites you can gamble at, we choose to list the biggest and most reputable sites that have been around for years. You are guaranteed to get paid when you win at any of the sites we endorse.

Absolutely. Infact all of the sites listed here on legal bitcoin gambling are U.S. friendly. They can legally accept American players because they are located outside of the United States in an offshore jurisdiction where online gambling is lawful.

Yes, one could make a case that gambling with Bitcoin is legal in the United States simply because there aren't any laws that specifically make it illegal.

Official Bitcoin Website - This is the go-to website for anything you ever wanted to know about bitcoin.

Bitcoin Chaser - August 18, 2019

The internet revolution wouldn’t have been complete without online gambling that makes it convenient for you to play from the comfort of your home whenever you want. Bitcoin gambling makes this experience even greater, bringing unique games to the fore, quick transactions and a degree of privacy that fiat cannot offer. But is Bitcoin gambling legal?

The short answer is that as long as you live in a jurisdiction in which online gambling is legal, you are gambling on a licensed casino, and Bitcoin is legal within that same jurisdiction, then you can play using your coins all you want. The long answer is a little more complex.

Bitcoin Gambling: The Devil is in the Details!

The question of whether Bitcoin gambling is legal or not is composed of at least 3 underlying questions: 1. Is gambling legal where you live? 2. Is Bitcoin legal where you live? 3. Does it really matter if any of those are legal if I am using an asset like Bitcoin, which is decentralized and doesn’t care about the law of the land?

The first question is key if you are looking to gamble online in any case. Whether you use Bitcoin or not, if you care about the law, you should not engage in any kind of online activity that is illegal within the jurisdiction you live in. If online gambling is legal in your jurisdiction, then you should ask yourself whether Bitcoin is legal as well. If it is, then you can gamble with your coins, but if it is illegal, then you would be taking a risk if you use Bitcoin for anything, including gambling.

Are Bitcoin Casinos Legal in the US?

Jurisdiction is the most important issue when dealing with any kind of gambling. Bitcoin casinos are not different. In the US for instance, the rules that apply to each individual depend on where they reside and where they are when they choose to play.

Bitcoin is legal in the US and has even been labeled as a commodity by the CFTC. That means the Bitcoin side of the casino equation in the US is not the root of the issue. The gambling side of the equation is the biggest issue. Bitcoin casinos are legal in the US wherever any other kind of casino is legal. But online gambling in general in the US is highly restricted by federal law. The Unlawful Internet Gambling Enforcement Act of 2006 – UIGEA – prohibits transactions that involve online gambling.

Bitcoin Casinos in the US: The Grey Area

This puts any kind of online casino in the US within a grey area. When it comes to Bitcoin casinos, the problem might be even deeper. If the exchange of a commodity which is not regulated like other commodities that are publicly traded, is not deemed to be a financial transaction, then bitcoin casinos should be legal in the US.

Nevertheless, UIGEA has been criticized widely because its enforcement is lax. Furthermore, the Supreme Court in the US just recently ruled that a major obstacle to sports betting was illegal. This ruling in particular widened that grey area in which Bitcoin gambling operates in the US. Given all these particularities with legislation and the regulatory climate, it is impossible to say definitively that Bitcoin casinos are not legal in the US.

In fact, many Bitcoin casinos service US customers. Some of them are even licensed in a number of states. Other avoid the licensing issue altogether, making them illegal on the gambling side due to a lack of regulatory compliance.

To help you pick a good Bitcoin casino that you can play at with peace of mind and operates in the US, we put together a short list of the best brands that fit the bill:

FortuneJack

Lucky Bity

Bitcoin Penguin

Free Spin

BitBook

Crypto Thrills

Are Bitcoin Casinos Legal in the UK?

Another interesting jurisdiction to look at is the United Kingdom. In a sense, regulation of online gambling in the UK is laxer than in the US. When it comes to Bitcoin, the FCA lists it as an unregulated digital asset, but Bitcoin transactions are taxable depending on their nature. Some of these regulations might change when the UK leaves the European Union – Brexit.

Focusing on the gambling side, online casinos that have proper licensing are legal in the UK, regardless of whether they deal with Bitcoin or not. Furthermore, legal tradition in the UK, where it was only legal to place bets over the phone but never face to face, has created an environment in which bitcoin casinos can thrive. So, the short answer is, yes, Bitcoin casinos are legal in the UK, but you should play with the ones that have a license there. Here is a short list of the Bitcoin casinos we recommend for UK players:

Lucky Bity

Bitcoin Penguin

Free Spin

Is Bitcoin Gambling Legal In The Us Economy

BitBook

Crypto Thrills

Bitcoin Doesn’t Care!

The question about where Bitcoin casinos are legal and where they are not assumes that players are interested in playing legally. Bitcoin is an internet protocol. Therefore, regardless of whether online gambling or Bitcoin are legal in your jurisdiction, the Bitcoin network doesn’t care. Bitcoin is a censorship-free network.

Its nodes are all around the world. There is no single government entity that can stop the blockchain from working. We always recommend staying on the right side of the law, which is why previous are so important. Nonetheless, theoretically speaking, anyone should be able to gamble with Bitcoin from almost anywhere in the world, provided they use a VPN service.

Bitcoin is Not the Enemy!

For governments that want to enforce the law in jurisdictions in which Bitcoin gambling is not legal, they should be looking at VPN services instead of going after Bitcoin users or businesses. They should also keep in mind that most gamblers who use Bitcoin, do so because online gambling is either illegal or too heavily regulated within their jurisdiction. This circumstance has attracted gamblers to Bitcoin as a means of gaining access to what their government seeks to put beyond their reach, and tools like a VPN are the catalyst for that kind of activity.

So, Using a VPN Service is Illegal?

Nevertheless, most governments in the world – with the exception of those which focus on internet access restrictions, like the Iranian government – will not go after VPN services. These are deemed to be perfectly legal. The common denominator between VPN and the legal status of Bitcoin gambling, seems to be that the onus of any kind of illegal online activity involving either tool, is on the individual. If you use a VPN to engage in Bitcoin gambling within a jurisdiction in which either online gambling or Bitcoin are illegal, then you are on the wrong side of the law.

Bitcoin Gambling With and Without a License

Regardless of whether it is legal or not, more gamblers are taking their chances and are gambling with Bitcoin using VPN services. They do so primarily to circumvent the fencing mechanisms that casinos have in place to keep gamblers from jurisdictions in which they do not have a license, from using their services. That is, if the casino is at all licensed. There are plenty of Bitcoin casinos that are not licensed, and players do not require VPN to gamble on them, because they have no interest in placing any barriers based on the player’s location.

Is Bitcoin Gambling Legal In The Us States

The Bottom Line is…

Is Bitcoin Gambling Legal In The Usa

These Bitcoin casinos that do not have a license, just add to the complexity of the issue. The bottom line is that Bitcoin gambling is legal in many places around the world. In those places where it is not legal, players recur to VPN services to gain access to the service, taking on the added risk of being caught. In other instances, they go for Bitcoin casinos that operate without a license – which makes that casino operation illegal in most places. Bitcoin, however, doesn’t care about the legal status of any of these elements. On that esoteric online jurisdiction, Bitcoin gambling is always legal.