Bitcoin and online gambling regulation by James Canning

Bitcoin gambling regulation is a complex subject that still nowadays is developing. This is why we wanted to display the interesting opinion and experience of James Canning– Bitcoin gambling and betting expert, webmaster of the Bitcoin betting guide to try to clarify the current situation of this regulation all around the world. In his own words:

“There are none specific laws for Bitcoin gambling and in the absence of specific laws I presume that it was the same legal status at fiat gambling, so if something is legal with fiat currency I assume is legal with Bitcoin currency”.

“In the most parts this leads that huge of the gamblers are not at risk from law enforcement, and in jurisdiction like Australia there are not law against gamblers betting on casinos or poker, or anything else, but there are laws against the operators offering that service. So in that case the operator may be breaking the law but the gambler is not, even in cases where the gambler may be breaking the law such as in the United States of America, in previous gambling crackdowns, such as crackdowns against online programs, individual players where never targeted only the operator were targeted”.

“One interesting aspect of Bitcoin gambling laws and jurisdiction will be –Match Fixing– so far there is not known cases of Bitcoin being used for match fixing, but it is the perfect tool because it is, listen to media, prove of gamblers, so just the individual players themselves can play all of those roles without cooperating with anybody else, and fix matches without anybody know”.

What has law enforcement done? “So far Law enforcement has taken not action against Bitcoin gambling operators, the normal method against the fiat operators was to cut off the customer’s ability to deposit and withdraw and that causes the operator to die. If the merchant process doesn’t work with them the credit card companies won’t work with them, and consequently neither the banks nor financial companies. That’s how the department of gangsters has attacked fiat sportsbooks”.

What will law enforcement do? “ I expect they will carry out the domain seizures, or the name registers, may be we will have to use the name coin system, they will carry out server seizures on the hosts and physical office raids, most of the offices are in Panama or Costa Rica, but they could  be anywhere and for match fixing the only tactic will be extremely close monitoring of players, they will have to monitor their performance and their spending, being the only way to detect a player is fixing matches with Bitcoin gambling”.

Having this lack of regulation, it still remains to see many countries’ position in this area, and have yet to clearly define their stance on Bitcoin gambling (or gambling with any cryptocurrency for that matter). In this sense we recommend you to visit the following website, where is provided clear summaries for dozens of countries where Bitcoin gambling is or isn’t legal, the “regulatory score” goes from 0 (no regulation at all) to 10 (strict regulation) and you must simply press the link with your country name to find out its regulation on it.

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