4/01/2018

Gambling For Cryptocurrencies is Increasing In Popularity

Gambling for cryptocurrencies is a great source of entertainment and excitement, but even the best fall down sometimes. Not to worry, though, because we’re here to help you with whatever complaints you have.

Cryptocurrency's success in the online gambling market depends on several factors. One of the most important is regulation and, notably, SatoshiDice doesn't operate in the US market, because of the strict gambling laws encountered there.

There are other breakthroughs that came from the crypto gambling community.  Take Provably Fair, which created a trustless shuffling system,"

Bitcoin, which has now broken $12,000, is "an oddity that has nothing to do with us" as investors, says CNBC's Jim Cramer. "What's the difference between bitcoin and trying to figure out the Super Bowl? I mean it's gambling," Cramer says.

Gambling for cryptocurrencies can be seen as a gray area. The countries or states that forbid gaming, they forbid gaming for real money. And since Bitcoin is only a cryptocurrency, it is not strictly illegal to play games of luck. On the other side, the legal issue about Bitcoin casinos often is about the player of the casino and the state the casino is established. This makes everything very complicated and we can not go into detail since it is mostly gray zone and pretty hard to interpret.

Reference

Bitcoin Gambling Guide – Most Trusted Bitcoin Casino Reviews. (2018). Retrieved on April 2, 2018, from https://www.bitcoingg.com/.
Why Bitcoin's Gambling Boom is Only Just Getting Started. (2018). Retrieved on April 2, 2018, from https://www.coindesk.com/bitcoins-gambling-boom-just-getting-started/.
Berkeley Lovelace Jr.. (2018). Cramer: Bitcoin like 'Monopoly money;' better off gambling in Vegas. Retrieved on April 2, 2018, from https://www.cnbc.com/2017/12/06/cramer-bitcoin-like-monopoly-money-better-off-gambling-in-vegas.html.
Philip. (2018). Bitcoin Gambling | Best BTC Sportsbooks 2017. Retrieved on April 2, 2018, from https://www.coinstaker.com/bitcoin-gambling/.

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