Bitcoin & USA Online Gambling
Bitcoin has proven to be
quite a powerful force in the online casino arena. Many off shore
casinos accept bitcoin payments now. One question for most folks is
whether or not bitcoin gambling is even legal in their region. This
question is particularly valid in the United States, as things are not
as black-and-white in America by any means.
The truth is Bitcoin gambling is really no different than any other
gambling as far as USA players are concerned. At the end of the day the
same laws apply to Bitcoin wagering as they do with any other type of
internet gambling. Basically, what the law states about online gambling
in the United States is that it's illegal to accept wagers, but it's
not illegal to place them. This is the exact reason why the gambling
sites that accept USA players are exclusively located offshore so they
don't run afoul of the strict regulations.
Bitcoin gambling is tied up closely with the laws with online gambling
as a whole. The thirsty desire of the U.S. Federal and State
governments for tax revenue, sometimes coupled with moralistic views
about gambling, is what makes it somewhat difficult to gamble online in
the United States. The main law covering online gambling is the
Unlawful Internet Gambling Enforcement Act of 2006. This law targets
any business that takes online payment for gambling purposes. Many
lawmakers were worried that online gambling sites outside of the reach
of government oversight could be a way to launder money. With the
worries about terrorism at the time, the law passed pretty easily.
The law doesn’t specifically target digital currencies nor does it
target individual gamblers. So, technically, there’s nothing stopping
any USA citizen from going to a BitCoin
having some fun, but there is a huge risk for the
operators. The law made it illegal for banks to process transactions
for online gambling businesses, effectively shutting off the flow of
U.S. dollars to the gambling websites.
Legitimate Bitcoin casino operators such as Ignition
well established trustworthy gaming policies. They
maintain very high standards in providing fairness on all their
games. The blockchain reinforces transaction fairness while allowing
immediate deposits and more importantly quick and easy withdrawals.
Above all, the whole process is totally anonymous. Plus, there is a
second ruling that protects players, specifically players of online
poker. In 2012, poker was declared a game of skill, not of luck. This
took poker out of the realm of gambling in a technical sense. This
means only the parts of the law regarding banks and handling
transactions to gambling businesses only applied to operators who did
not offer the game of poker.
There are still very few casino operators willing to operate openly in
the U.S., forcing most players who want to play to find operators
licensed in other countries, but gambling licensing laws in different
countries vary widely. Some of the most trusted Bitcoin casinos use
geoblocking just so they can cover their legal backside, but that’s not
stopping some people from using VPN software
compatible with Bitcoin to play on sites that are geoblocked.
Individual gamblers are currently safe from governmental scrutiny, but
even that situation can change at any given moment in time. Just be
aware of any future changes & in the meantime happy online crypto