..

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

Need a Sportsbook Solution Washington State for College Football

Need a Sportsbook Solution Washington State for College Football

Washington State will be huge for College Football in 2018 with a high demand for a sportsbook solution.

Bitcoin Sportsbook Deposit Bonus Offers

Here you will find the latest bonus offers at some of your favorite online sportsbooks.  These sites typically offer their best bonuses for funding with Bitcoin as this is the easiest method to deposit and withdraw. 

Bitcoin Worldwide Acceptance Monitor

Bitcoin Worldwide Acceptance Monitor

Here you will find all the latest news pertaining to Bitcoin's worldwide acceptance.  Bitcoin and other cryptocurrencies now account for upwards of 70% of all funding at many online gambling sites operating in restrictive (or highly regulated) markets. 

How Cryptocurrency Can Benefit You at Online Casinos

How Cryptocurrency Can Benefit You at Online Casinos

There are plenty of benefits for making cryptocurrency your payment method of choice when playing at online casinos – read on to find out more!

What is a Bookie?

What is a Bookie?

A bookie is someone who accepts wagers or bets on sporting events, and when the bets win they pay the players with the winning wagers and collect money from players with the losing wagers. A bookie can do this by accepting wagers over the phone with paper and pen or he can use a pay per head service.

Syndicate