{"id":322,"date":"2021-02-26T04:23:53","date_gmt":"2021-02-26T04:23:53","guid":{"rendered":"https:\/\/casinorank.com\/index.php\/2021\/02\/09\/will-bitcoin-make-gambling-regulation-obsolete\/"},"modified":"2022-12-01T15:23:51","modified_gmt":"2022-12-01T15:23:51","slug":"will-bitcoin-make-gambling-regulation-obsolete","status":"publish","type":"post","link":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/","title":{"rendered":"Will Bitcoin Make Gambling Regulation Obsolete?"},"content":{"rendered":"

With the recent rising Bitcoin value, the online gaming industry sees the currency in a different light. <\/strong><\/p>\n

One of the financial regulators\u2019\u2019 worst fears when it comes to bitcoin is that the virtual currency keeps the users anonymous. Once you convert your fiat currency to bitcoin, those funds are kept in a virtual wallet and are assigned a private key. From this point, it is impossible to tell who owns the bitcoins, which protects the owner\u2019s identity.<\/p>\n

On the other hand, fiat currency can be traced through bank account and credit card details, so the authorities will always know where the money goes. By monitoring transactions back and forth, gambling regulators are able to monitor casino\u2019s activities and impose necessary regulations. Most of the casinos and gambling sites are operating solely using fiat currencies and those may not be the safest options for your privacy. With bitcoin, this is not very easy to do, which begs the question of whether gambling regulations are being rendered ineffective by bitcoin.<\/p>\n

Besides, regulators monitor gambling activities for match-fixing. They can tell if this happened by tracing the source of the funds to the results of the matches. Again, this is not possible if the fixers used bitcoin, making the regulations seem useless.<\/p>\n

Knowing the dangers that gambling with Bitcoin poses to the industry as a whole, the regulators are trying to come up with new ways to prevent, or at least control and monitor, gambling transaction with bitcoin. In several countries, legislation has been passed requiring the gambling institutions to screen their clients and establish their identities.<\/p>\n

Even though use of bitcoin in gambling is making the current regulations ineffective, these laws are still very much needed. Looking at the dangers posed by gambling through bitcoin, the industry could be threatened if appropriate and effective laws are not passed to regulate the industry.<\/p>\n

 <\/p>\n

Via themerkle.com<\/a><\/p>\n

About Bitcoin Gambling Market Trend<\/h2>\n

The anonymous digital currency Bitcoin could more than double in price to $5000, claims Standpoint Research.<\/a><\/p>\n

Now the transaction method of choice for the online gambling sector with Bitcoin-only websites seemingly cropping up on a near weekly basis, the currency traded near $2,600 Wednesday, according to CoinDesk.<\/p>\n

Standpoint Research founder Ronnie Moas told CNBC the digital currency could rise to $5,000 “in a few months.”<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"With the recent rising Bitcoin value, the online gaming industry sees the currency in a different light.  One…\n","protected":false},"author":3,"featured_media":2507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,345],"tags":[],"yoast_head":"\nCryptocurrency Bitcoin in Online Gambling | CasinoRank<\/title>\n<meta name=\"description\" content=\"How does bitcoin come in to play in the online gambling industry? CasinoRank discusses the implication of the online currency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptocurrency Bitcoin in Online Gambling | CasinoRank\" \/>\n<meta property=\"og:description\" content=\"How does bitcoin come in to play in the online gambling industry? CasinoRank discusses the implication of the online currency.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino & iGaming News | Casinorank.com\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-26T04:23:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T15:23:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/casinorank.com\/wp-content\/uploads\/2021\/02\/bitcoin-at-online-casino.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eddy Cheung\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eddy Cheung\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\"},\"author\":{\"name\":\"Eddy Cheung\",\"@id\":\"https:\/\/casinorank.com\/#\/schema\/person\/8209de544aea31a78e2bf8ebaee3b755\"},\"headline\":\"Will Bitcoin Make Gambling Regulation Obsolete?\",\"datePublished\":\"2021-02-26T04:23:53+00:00\",\"dateModified\":\"2022-12-01T15:23:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\"},\"wordCount\":394,\"publisher\":{\"@id\":\"https:\/\/casinorank.com\/#organization\"},\"articleSection\":[\"News\",\"Popular\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\",\"url\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\",\"name\":\"Cryptocurrency Bitcoin in Online Gambling | CasinoRank\",\"isPartOf\":{\"@id\":\"https:\/\/casinorank.com\/#website\"},\"datePublished\":\"2021-02-26T04:23:53+00:00\",\"dateModified\":\"2022-12-01T15:23:51+00:00\",\"description\":\"How does bitcoin come in to play in the online gambling industry? CasinoRank discusses the implication of the online currency.\",\"breadcrumb\":{\"@id\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/casinorank.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Will Bitcoin Make Gambling Regulation Obsolete?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/casinorank.com\/#website\",\"url\":\"https:\/\/casinorank.com\/\",\"name\":\"Casino & iGaming News | Casinorank.com\u00ae\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/casinorank.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/casinorank.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/casinorank.com\/#organization\",\"name\":\"CasinoRank\u00ae\",\"url\":\"https:\/\/casinorank.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/casinorank.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/casinorank.com\/wp-content\/uploads\/2021\/02\/casinorank-org_logo-1.png\",\"contentUrl\":\"https:\/\/casinorank.com\/wp-content\/uploads\/2021\/02\/casinorank-org_logo-1.png\",\"width\":446,\"height\":61,\"caption\":\"CasinoRank\u00ae\"},\"image\":{\"@id\":\"https:\/\/casinorank.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/casinorank.com\/#\/schema\/person\/8209de544aea31a78e2bf8ebaee3b755\",\"name\":\"Eddy Cheung\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/casinorank.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ba1d6b90eb80682647b14778f6c8c01b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ba1d6b90eb80682647b14778f6c8c01b?s=96&d=mm&r=g\",\"caption\":\"Eddy Cheung\"},\"description\":\"I remember the first time I saw Kai Tak, Hong Kong's gambling city, I thought I was in a fairy tale. All the lights blinking, the music and the monumental buildings, what 9-year-old wouldn\u2019t think they\u2019ve come to a magical place? It was my father who brought me, dragging me along and when inside I was hit by the smell of frying duck. As soon as I hit 21 I returned to Kai Tak, A bit nervous to see if my mind had embellished the memory, but it hadn\u2019t. Kai Tak was still a magical place. I decided I wanted to spend as much time as I could at this place, so I did.\",\"url\":\"https:\/\/casinorank.com\/author\/writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cryptocurrency Bitcoin in Online Gambling | CasinoRank","description":"How does bitcoin come in to play in the online gambling industry? CasinoRank discusses the implication of the online currency.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/","og_locale":"en_US","og_type":"article","og_title":"Cryptocurrency Bitcoin in Online Gambling | CasinoRank","og_description":"How does bitcoin come in to play in the online gambling industry? CasinoRank discusses the implication of the online currency.","og_url":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/","og_site_name":"Casino & iGaming News | Casinorank.com\u00ae","article_published_time":"2021-02-26T04:23:53+00:00","article_modified_time":"2022-12-01T15:23:51+00:00","og_image":[{"width":"1500","height":"1000","url":"https:\/\/casinorank.com\/wp-content\/uploads\/2021\/02\/bitcoin-at-online-casino.jpeg","type":"image\/jpeg"}],"author":"Eddy Cheung","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Eddy Cheung","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/#article","isPartOf":{"@id":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/"},"author":{"name":"Eddy Cheung","@id":"https:\/\/casinorank.com\/#\/schema\/person\/8209de544aea31a78e2bf8ebaee3b755"},"headline":"Will Bitcoin Make Gambling Regulation Obsolete?","datePublished":"2021-02-26T04:23:53+00:00","dateModified":"2022-12-01T15:23:51+00:00","mainEntityOfPage":{"@id":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/"},"wordCount":394,"publisher":{"@id":"https:\/\/casinorank.com\/#organization"},"articleSection":["News","Popular"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/","url":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/","name":"Cryptocurrency Bitcoin in Online Gambling | CasinoRank","isPartOf":{"@id":"https:\/\/casinorank.com\/#website"},"datePublished":"2021-02-26T04:23:53+00:00","dateModified":"2022-12-01T15:23:51+00:00","description":"How does bitcoin come in to play in the online gambling industry? CasinoRank discusses the implication of the online currency.","breadcrumb":{"@id":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/casinorank.com\/news\/will-bitcoin-make-gambling-regulation-obsolete\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/casinorank.com\/"},{"@type":"ListItem","position":2,"name":"Will Bitcoin Make Gambling Regulation Obsolete?"}]},{"@type":"WebSite","@id":"https:\/\/casinorank.com\/#website","url":"https:\/\/casinorank.com\/","name":"Casino & iGaming News | Casinorank.com\u00ae","description":"","publisher":{"@id":"https:\/\/casinorank.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/casinorank.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/casinorank.com\/#organization","name":"CasinoRank\u00ae","url":"https:\/\/casinorank.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/casinorank.com\/#\/schema\/logo\/image\/","url":"https:\/\/casinorank.com\/wp-content\/uploads\/2021\/02\/casinorank-org_logo-1.png","contentUrl":"https:\/\/casinorank.com\/wp-content\/uploads\/2021\/02\/casinorank-org_logo-1.png","width":446,"height":61,"caption":"CasinoRank\u00ae"},"image":{"@id":"https:\/\/casinorank.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/casinorank.com\/#\/schema\/person\/8209de544aea31a78e2bf8ebaee3b755","name":"Eddy Cheung","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/casinorank.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ba1d6b90eb80682647b14778f6c8c01b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ba1d6b90eb80682647b14778f6c8c01b?s=96&d=mm&r=g","caption":"Eddy Cheung"},"description":"I remember the first time I saw Kai Tak, Hong Kong's gambling city, I thought I was in a fairy tale. All the lights blinking, the music and the monumental buildings, what 9-year-old wouldn\u2019t think they\u2019ve come to a magical place? It was my father who brought me, dragging me along and when inside I was hit by the smell of frying duck. As soon as I hit 21 I returned to Kai Tak, A bit nervous to see if my mind had embellished the memory, but it hadn\u2019t. Kai Tak was still a magical place. I decided I wanted to spend as much time as I could at this place, so I did.","url":"https:\/\/casinorank.com\/author\/writer\/"}]}},"yoast_meta":{"yoast_wpseo_title":"","yoast_wpseo_metadesc":"","yoast_wpseo_canonical":""},"_links":{"self":[{"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/posts\/322"}],"collection":[{"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/comments?post=322"}],"version-history":[{"count":2,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/posts\/322\/revisions"}],"predecessor-version":[{"id":4116,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/posts\/322\/revisions\/4116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/media\/2507"}],"wp:attachment":[{"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/media?parent=322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/categories?post=322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casinorank.com\/wp-json\/wp\/v2\/tags?post=322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}