Is Bustabit Legal
- But, you probably already knew that.
- Bustabit is the oldest provably fair crash gambling site in the world. Site owner Daniel ('devans' on BitcoinTalk) is very responsive and the community as a whole is excellent.
- Users for which using the service is not legal in their applicable jurisdiction(s) are prohibited from using the service. Ensuring they are legally permitted to use the service is the user's responsibility. The operator makes no claims and provides no guarantees that using the service is legal for the user.
- What Is Bustabit? This is the original bust game and is designed to be the number one Bitcoin gambling game that you use Bitcoin with since the year of 2014. You can play the game at the company website on bustabait.com. The game is developed in social and real time, and unlike many gambling games.
Bustabit is licensed and authorized by the Government of Curacao and operates under the Master License of Gaming Services Provider, N.V. #365/JAZ as an Information Service Provider. They have passed all compliance and are legally authorized to conduct gaming operations for all games of chance and wagering. You can view their license here.
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.
Is Bustabit Rigged
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.
Is gambling with bitcoin legal?
The legality of online gambling is a gray area in several parts of the world. Some countries have no restrictions against online gambling, but other nations are staunchly opposed to internet gambling. Some of the countries that have either banned online gambling or placed restrictions on it include the following nations:
Australia
Imposed in 2001, the Interactive Gambling Act (IGA) makes it illegal for companies to provide online gambling services to residents of Australia. The IGA targets both offshore and Australia providers of internet gambling services. Some concessions are made for online sports betting providers since it’s not illegal to offer internet sports betting to Australian residents. It is also totally legal for Australian residents to engage in online gambling so long as they are not a provider.
China
China does not allow internet or land-based gambling throughout their country. The only form of gambling that’s legal in China is the national lottery, but this doesn’t offer an online option due to internet scams involving fake lottery sites. Macau, which is a special administrative area of China, is the lone territory where Chinese citizens can go to gamble; however, the government has made it hard for people to get a visa to Macau.
India
Online gambling is neither legal nor illegal in India; instead, it is a silent issue. However, the state of Maharashtra has banned online gambling through the Bombay Wager Act.
Israel
Israel’s gambling legislation (Israeli Penal Law 5737 – 1977) makes land-based and online games of chance illegal in the nation of Israel. The only exceptions to this law are the Israel Lottery and the Israeli Commission for Sports Gambling; both freely offer their services to Israel residents.
Malaysia
Internet gambling operators are not allowed to offer their services to Malaysians by law. Companies that do allow Malaysians to gamble through their online site can be prosecuted. Banks are not supposed to allow residents of Malaysia to authorize any online gambling-related transactions either. Despite the anti-online gambling legislation in place, Malaysia has had a tough time preventing residents from gambling over the internet.
Russia
While Russia has moved all land-based gambling to four remote areas of the country, online gambling is not a clear-cut issue. Russia prohibits its residents from gambling online, but some companies still offer their services to Russians.
Turkey
Turkish legislation makes it illegal for both residents to engage in online gambling and for companies to offer their services to Turkey.
United States
The Unlawful Internet Gambling Enforcement Act (UIGEA) makes financial transactions from banks to online gambling websites illegal. It also prohibits credit card providers from allowing transactions to internet gambling sites. Since the UIGEA was signed into effect in 2006, there have been numerous challenges to the law by US House of Representatives member Barney Frank. And numerous online gambling companies have chosen to ignore the law since they still over services to American gamblers.
United States/Antigua and Barbuda Debate
Antigua and Barbuda, which is one of the world’s biggest providers of online gambling licenses, has made several appeals to the World Trade Organization (WTO) regarding the United States’ anti-online gambling laws. The United States’ Wire Act and several other anti-gambling laws were ruled to be in violation of the WTO General Agreement on Trade in Services (GATS) as a result of the appeals. Since the ruling, the United States has done nothing to make amends to their anti-gambling laws. This caused Antigua and Barguda to file a claim with the WTO for $3.4 billion in 2007; the matter is still being debated.
Is Bustabit Legal In The United States
Despite most governments do not recognize Bitcoin as a currency, all those restrictions and existing laws relating to online and mobile gambling apply to bitcoin gambling.If online gambling with fiat money is illegal in your jurisdiction, then it is also illegal with BTC.