..

Can I Send Bitcoin From Texas to Gamble Online?

Written by:
Aaron Goldstein
Published on:
Jun/18/2019

It is legal to use Bitcoin in the United States, and this includes Texas.  While you can send and receive funds to and from your online gambling account, it is important that you do so using a wallet, and not directly between an exchange and the gambling website.  We have How To videos below.

*50% signup bonus up to $1000
*Available most nations
*Watch for top Bitcoin bonuses
*True dime line in Baseball up to -170
*$25 minimum to open account
*Highest credit card acceptance rate
*Accessible all 50 states
LEARN MORE HERE

Nearly all exchanges have rules that prohibit funds to be used for gambling, legal or otherwise.  Sure it's more convenient as you are eliminating one extra step and saving a small amount on already super low fees.  Wallets add an extra layer of security and anonymity. 

Now while Texas hasn't banned cryptocurrencies like Bitcoin, they appear to want to do just that.

Texas Republican Rep. Phil Stephenson introduced a bill-draft that would require Texans to identify themselves before they use crypto assets like Bitcoin.

Stephenson realized that financial aliases can be created using Bitcoin. 

"HB 4371 would require prior verification of #identity for any transaction paid for via #digital currency, only allow the state to operate with a verified identity digital currency, defined as one where identity if sender is known prior to transaction."

Question: Do I need to send one whole Bitcoin to an online gambling site?

Answer: NO.  If you wish to only send US$300 to a book, in today's market with one Bitcoin trading close to $9000, you would be sending 0.033 in Bitcoin, the equivalent of US$300. 

That bill pretty much defeats the purpose of using Bitcoin in the first place.

Needless-to-say, the response to this effort was met with .... well.... disgust and some sarcasm, mostly suggesting that Stephenson is out of touch with technology.

StreetsofGold tweeted:

Thanks for sharing, the next 10yrs of crypto will showing grandpa how to use the interwebs.

From James J:

A law drafted by a self appointed authority that it would seem have little understanding of who wallets or crypto works.

There is some good news. The Legislature of the State of Texas, operating under the biennial system, convenes its regular sessions at noon on the second Tuesday in January of odd-numbered years (of which 2019 is one). The maximum duration of a regular session is 140 days.   Texas Gov. Greg Abbott signed the last of the appropriation bills sent to him on June 15.  This year's session ended May 27th.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Is It Wise to Start a Bookie Business in the State of Illinois Now That There is Regulation?

Is It Wise to Start a Bookie Business in the State of Illinois Now That There is Regulation?

Local bookmakers in the state of Illinois will survive in the wake of a law passing that permits sports betting even at venues such as Wrigley Field.  It's easy to get started with proprietary Pay Per Head software.

Can I Start an Online Sportsbook From Alabama

You can start your own sportsbook from Alabama.  The US Supreme Court ruled to overturn decades long prohibition this past May. 

Finding an Easy to Navigate Agent Menu for Bookmaking, Sports Betting

Finding a Pay Per Head is easy.  Simply Google the term and a bunch of searches will pop up.  But many of today's most savvy bookmakers and agents will explore much deeper in an effort to find easy to navigate platforms and those that produce extensive reporting. 

The New Trending Crypto | Litecoin

The New Trending Crypto | Litecoin

Cryptocurrency is without doubt the hottest form of currency when it comes to paying for and receiving payouts from online sportsbooks. The beauty of cryptocurrency is the ease of use for both the sender and the receiver.

Ladbrokes Owner's Turkish Dealings Could Block US Entry

Ladbrokes Owner's Turkish Dealings Could Block US Entry

William Hill and Paddy Power continue to carve their way through the US regulated sports betting landscape.  Rival Ladbrokes would love to, but those hopes may now be dashed.

Syndicate