Is Bitcoin Gambling Legal in the United States?

Bitcoin has proven to be quite a powerful tool in the online gambling sector so far. Various casinos accept bitcoin payments already, although there is still a lot of room for future growth. One question that is on most people’s minds 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 there by any means.

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. Online gambling has been a topic of debate for the past few years, even in the US. Different states have different opinions and regulations in place to tackle online gambling. This explains why some online gambling platforms do not serve customers in specific states.

To be more specific, if the state or region you live in prohibits online gambling, it will not matter which form of payment is being used. Gambling is – technically speaking – not illegal on the federal level by any means. However, several US states have made gambling illegal, regardless of whether it occurs in a physical location or on the internet. The method of payment used to fund one’s gambling activities, however, is a different matter entirely.

Using the banking system for gambling purposes is prohibited in the United States. To be more specific, these laws apply to gambling operators on a state and federal level. Federal legislation focuses on the transfer of funds, whereas state laws regulate the operations within their respective state. Some people may recall how poker in the United States used to be a thriving business until a few years ago.

Ever since the regulatory change regarding the funding of gambling activities was introduced, poker sites started to decrease in number rather quickly. On the other hand, this creates an opportunity for alternative funding methods, including bitcoin and other cryptocurrencies. That does not mean using bitcoin will be without consequences, though, as obtaining and converting bitcoin often means going through an exchange who has your personal information on file.

It is worth nothing the IRS has not taken an official stance on bitcoin gambling yet. Even though it is possible for gamblers to make a profit, get paid out in bitcoin and convert their winnings to US Dollars, the IRS is not concerned about this scenario. In fact, there have been no notable events of either the IRS or the Department of Justice going after individual gamblers who deal with bitcoin. Gambling operators, on the other hand, may face the wrath of these organizations at any given time.

Speaking of bitcoin gambling operators, the infamous SealsWithClubs website has been officially shut down by Nevada state officials in 2015. Bryan Micon, who operated this platform, pleaded guilty for running an unlicensed online poker platform. He ended up paying a hefty fine, yet successfully avoided jail time by pleading guilty to this charge. In the end, bitcoin gambling remains a gray area for the time being. Individual gamblers should be safe from governmental scrutiny, but even that situation can change at any given time.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

93 Comments

  1. Bill Davis August 10, 2017
  2. Doobz September 15, 2017
  3. ปั้มไลค์ July 18, 2020
  4. SMS July 18, 2020
  5. สล็อต September 7, 2020
  6. สล็อต September 7, 2020
  7. สล็อตXo September 7, 2020
  8. สล็อตXo September 7, 2020
  9. website December 8, 2020
  10. poker club88 December 8, 2020
  11. Pokerlounge 99 December 8, 2020
  12. games-galaxy.net December 8, 2020
  13. https://martinchavez98.org December 8, 2020
  14. piala qq December 8, 2020
  15. pasarqq December 8, 2020
  16. rajawaliqq December 8, 2020
  17. poin qq December 8, 2020
  18. poin qq December 8, 2020
  19. poker88asia December 8, 2020
  20. site December 9, 2020
  21. Keneth Shiliata December 9, 2020
  22. Fgnstrabe December 9, 2020
  23. Menang qq December 9, 2020
  24. Fhsntrabe December 14, 2020
  25. Dvnjtrabe December 14, 2020
  26. dominobet December 17, 2020
  27. Darrell Dellamore December 17, 2020
  28. jaya poker December 18, 2020
  29. JamesCef January 13, 2021
  30. meetyobi.com January 13, 2021
  31. slotxo January 14, 2021
  32. JamesFieds January 14, 2021
  33. JamesFieds January 15, 2021
  34. JamesFieds January 15, 2021
  35. https://dewapoker1.asia January 16, 2021
  36. JamesEmack January 17, 2021
  37. cryptocurrency January 18, 2021
  38. https://dewapoker1.asia January 19, 2021
  39. https://dewapoker1.asia/ January 20, 2021
  40. https://dewapoker1.asia January 23, 2021
  41. pokerace99 January 24, 2021
  42. dewa poker January 24, 2021
  43. Link January 25, 2021
  44. xit Knocks to Increase Sales January 25, 2021
  45. Nagapoker January 25, 2021
  46. TuanDEckland January 26, 2021
  47. Geraldgof January 27, 2021
  48. poker club88 January 27, 2021
  49. Pokerclub January 27, 2021
  50. Geraldgof January 27, 2021
  51. Geraldgof January 27, 2021
  52. kudapoker January 28, 2021
  53. Nagapoker January 29, 2021
  54. cheap flights January 29, 2021
  55. dewa poker January 30, 2021
  56. Pokerclub88 January 31, 2021
  57. nagapoker January 31, 2021
  58. site January 31, 2021
  59. site February 1, 2021
  60. Pokerlounge99 February 1, 2021
  61. Robertmiz February 1, 2021
  62. http://tinyurl.com/ February 2, 2021
  63. cheap flights February 2, 2021
  64. Link Alternatif Dewa poker February 2, 2021
  65. tinyurl.com February 2, 2021
  66. kuda poker February 3, 2021
  67. pokerlounge February 4, 2021
  68. pokerlounge February 4, 2021
  69. travelers notebook February 5, 2021
  70. pokerace99 February 7, 2021
  71. Pokerlounge99 February 7, 2021
  72. RolandJache February 7, 2021
  73. More Info February 8, 2021
  74. CecilHGarmen February 9, 2021
  75. tinyurl.com February 11, 2021
  76. tadalafil 40 mg daily February 13, 2021
  77. hydroxychloroquine chloroquine February 14, 2021
  78. poker lounge107 February 15, 2021
  79. click to following article February 17, 2021
  80. plaquenil and eyes February 19, 2021
  81. RichardRex February 19, 2021
  82. buy chloroquine uk February 20, 2021
  83. http://66.42.63.243/rajapoker/ February 21, 2021
  84. rajapoker February 24, 2021

Leave a Reply