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February 24 2014

bitcoinreviews

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/.

Don't be the product, buy the product!

Schweinderl