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February 24 2014


Is Bitcoin Sports Betting Legal?

An exciting topic which has recently cropped up among the Bitcoin community is related to the legality involved with Bitcoin sports betting. This digital currency is quite effective as far as online gambling is concerned and is used nowadays for multiple different forms of online gambling. The biggest problem from the government's point of view is that there is very little legislation available when it comes to digital currency and this is making it very difficult for them to regulate it in any way whatsoever.

As far as legalities are concerned, as long as you are allowed to gamble online where you live, gambling with Bitcoins will not be a problem for you. There is a minimum age for sports betting as well and as long as you do not break any of the already existing rules of gambling you shouldn't have to worry about Bitcoins causing any trouble on their own.

But, you should know that most online sports betting websites are based out of countries such as Costa Rica where they can take advantage of the rules to accept bets without breaking any rules.

As of now, Bitcoins are unregulated digital currency and is not recognized as anything else except that. This also means that no existing laws which currently pertain to online sports betting are applicable for Bitcoins. Plus, since it is not controlled by a single person or entity, regulators are going to have a very hard time controlling it. No transactions related to Bitcoins can be regulated by governments either. So the only way you can lose Bitcoins is if you lose a bet. That's a major relief now isn't it?

So you see if your government doesn't have any issues with you gambling online, they will not have any problem with you using Bitcoins either. And do you know the best part about all this? Since it isn't a legal currency, you aren't taxed either. This means that you can earn countless Bitcoins without worrying about paying any taxes. Who wouldn't want that? And if you're worried about where you can spend your Bitcoins, don't. There are countless merchant websites which accept Bitcoins as a form of payment nowadays and they sell almost anything all the way from clothes to electronics. You really have nothing to worry about. And with no transaction delays, this might really be the best thing that ever happened to the world of online sports betting. So what are you waiting for? Get a Bitcoin wallet, load it up and start using Bitcoins for online sports betting today. For more info visit http://bitcoinreviewer.com/sports-betting/.

Nj Pol: Don't Let Caesars Buy Revel Casino

USA TODAY An Obamacare initiative to motivate hospitals and doctors to work together on Medicare patient care led to $380 million in savings. CNBC The company that Angelina Jolie Pitt made famous was a great stock before she brought attention to it, and its still a great stock now. MarketWatch CNBC's Eamon Javers provides a tour of "Window Wonder," while Morgan Brennan shows off the "Brick Behemoth". Super broker Dolly Lenz shares her pick of the best $1 million value. CNBC Visa Inc. (V) Chief Executive Officer Charlie Scharf said hes more confident in traditional payment networks than in virtual currencies like Bitcoin. There are certainly some interesting things about ... Bloomberg WASHINGTON (AP) The U.S. economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spending in three years, an encouraging sign for 2014.
For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/nj-pol-dont-let-caesars-210215539.html

Gambling website had ties to Roanoke

Overall, casino revenue was $821 million last year. The state had anticipated revenue of $886 million, said Fred Church, deputy director at the states Office of Budget and Management. We dont have a lot of history to go on, he said about making predictions. Church said revenue was likely off for a variety of reasons, including consumers being more cautious with their discretionary spending and competition from the slots-like video lottery terminals at horse tracks. The $821 million also is significantly less than the $1.9 billion that state tax officials had projected years earlier during the election campaign to allow gambling in Ohio. Casino tax revenue might dip even more. The extreme cold this month is expected to affect revenue negatively. Also, two new competitors Hard Rock Rocksino Northfield Park in Northfield and Miami Valley Gaming in Lebanon opened last month. Summit County Finance and Budget Director Brian Nelsen said the county is being conservative when predicting its share of casino taxes, which are projected to be about $3.3 million for 2014. Hes concerned that the racinos are eating away at casino revenue.
For the original version including any supplementary images or video, visit http://www.ohio.com/news/local/ohio-collecting-less-in-casino-taxes-1.463001

Ohio collecting less in casino taxes

casinotax31cut The American Gaming Association said Americans spent nearly $3 billion in 2012 on illegal, unregulated offshore gaming sites about 10 percent of global spending on such activity. Anti-gambling laws and prosecutions by federal authorities have created a huge black market for online gambling, according to the association, which recently called on Congress to relax industry restrictions and instead turn to rigorous regulation. The U.S. government maintains that gambling is illegal except where authorized by the states. Federal prosecutors have charged multiple people in connection with online gambling activities and announced convictions in a number of cases. In the Roanoke case, a local restaurant owner teamed with a programmer in Central America to establish a web-based gambling franchise that took bets and declared winners and losers for three and a half years before closing in April 2013, according to court papers. Max Alexander Krinberg, a 42-year-old programmer in San Jose, Costa Rica, who specialized in building sports-betting websites, pleaded guilty Wednesday to the federal felony offense of running a gambling business that violated a state law, in this case Virginia law. Authorities said Krinberg built and ran the website, while George Raymond Frederick of the Greensboro, N.C., area, who pleaded guilty also, belonged to a group of bookmakers in Virginia, North Carolina, South Carolina, Florida, Texas and Massachusetts dubbed the Roanoke Sports Book Organization who managed bettors. Prosecutors will recommend Krinberg and Frederick each receive a sentence of probation but forfeit cash: $100,000 by Krinberg and $43,000 by Frederick, according to court papers. Both men verified a seven-page summary of the evidence against them attached to their pleas, which explains that the organization paid Krinberg $22,000 a year and 10 percent of losing bets for the site.
For the original version including any supplementary images or video, visit http://www.roanoke.com/news/crime/roanoke/article_da642906-8a13-11e3-bb0b-0017a43b2370.html

Reposted fromholmestsxi holmestsxi

Europalace Casino, A Review Of Sophistication And Class

Luxor's casino floor under review in Vegas

This casino does not disappoint. The phrase all dressed up and no place to go does not apply here. Most of the time when you encounter flashy lights, glitz and glamor we equate it to be pretentious or unattainable. This is not the case with EuroPalace. This online operator has presented itself so your first look means everything. And what a first impression it makes! It started with the careful attention to detail and time that went into creating an online casino that makes players feel top shelf! With that treatment of high quality and excellence comes an online casino that is destined to be a classic.

Profile picture of ??? The Aug. 30 letter also asks the resort company to "provide details of any required corrective action" by the end of September. MGM Resorts has already submitted some of its corrective plan, MGM spokesman Gordon Absher said at the end of this past week. But he declined to describe the proposed fix until all proposals are approved by the county. "The Luxor casino level has been through a series of modifications since its initial construction," Lynn wrote on Aug. 30. "This, combined with the building's unusual configuration and recent field review, establishes the need to conduct an evaluation ... of the existing floor area." The LAX nightclub, on the casino level, now occupies some of the floor slab in question.

Bitcoin may be a bust on the Las Vegas Strip

According to Bennison, the latter isnt in the works, eitherat least for gaming purposes. Bringing more money into Nevadas casinos certainly wouldnt hurt. Of the Nevada casinos reporting $1 million or more in revenue, gaming revenues consisted of $10.4 billionof which about 65 percent consisted of slot machines, according to a state-authored abstract of 2013 casino revenues. However, the casinos as a whole lost$1.35 billion in 2013, the fifth straight year theyve lost money. Bitcoin miners use large-scale computing arrays to quickly and efficiently perform the cryptographics calculations necessary to earn Bitcoins. Representatives from several casinos, including the Wynn, Caesars Palace, and Treasure Island, declined to comment when asked if they planned to offer Bitcoin support on the casino floor. In part, that appears to be because casinos dont yet understand how to take a Bitcoin and insert it into a slot machine. On the gambling floor, card games usually use chips as currency. Coin-operated machines like slot machines require either cash or stored-value tickets fed into them. In the abstract, there shouldnt be much of a difference between withdrawing a dollar from a checking account and a Bitcoin from an online exchange.

Reposted fromonlcastricks7365 onlcastricks7365
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