Want to Gamble Online without Red Tape? Skip the Nonsense with a Standalone Casino Platform
Imagine it’s Friday night after a tough week. Where can you go to unwind a little and make a little spending money for the weekend in the process — all without leaving home?
An online casino! In fact, you’ve just heard about a new one with some great games.
You head on over and try to get set up — except there’s a problem. The casino’s system doesn’t like IP addresses from your country. No problem, you can use a online privacy tool (like from hprox, a BlockStamp partner project!) to access it via another IP address.
So you create an account. But now there’s another problem. The casino doesn’t like the color of your money! It seems their payment processing system won’t work with financial institutions from your country — or something. Whatever the reason, you’re not able to get a deposit made.
Aha, you say. What about cryptocurrency? Yes, you have some that the casino will accept. But there’s another problem. If you use cryptocurrency, the casino can’t rely on Know-Your-Customer (KYC) data from a traditional financial institution. So you’re going to have to provide the casino with your personal details — including your address.
Hmmm… if they didn’t like your country’s financial institutions, are they going to like your address in the same country? Probably not.
Sure, you can get creative here. But by now the whole thing just seems a little too complicated, don’t you think? You’re at this casino for a different type of risk. The fun type where you can win some money. Not the legal type where you have to bend the rules just to relax a little.
Fortunately, you’ve got an alternative. The architecture of BlockStamp Games allows you — for the most part — to skip these kind of hassles and let you focus on the fun stuff!
Not because it’s easier to break the law. It’s because most gambling laws aren’t written to cover a scenario with a closed-loop, zero profit casino platform like ours.
Before we explain why, though, a quick disclaimer.
Please follow all applicable rules wherever you live!
This article isn’t legal advice. Anyway, we can’t possibly know the rules that apply in every single jurisdiction all around the world.
Don’t make any decisions just because you read about it on the internet. Use the points in this article as a thought framework for your own analysis… but hopefully they will make your analysis quick!
So that’s out of the way.
And now a brief description of what gambling regulations generally do cover.
Generally, online gambling regulations cover gambling businesses and funds transfers to these businesses.
Again, we can’t possibly know all the regulations everywhere. But generally speaking, online gambling regulations use a couple of “choke points.”
One is the concept of a “business” or “establishment” aiming to profit from gameplay. Here, the idea (other than just to generate tax revenue on the profits!) is that if someone wants to profit from a casino, he shouldn’t be able to profit too much from gamblers. In other words, no ripping people off too badly. A noble goal, but one that a blockchain achieves better, by the way.
(Incidentally, note that the regulators generally do think a fair amount of profits are just fine. Even to the extent that taking countermeasures against advantage gamblers, i.e. players who are “too good,” is usually fine. At the end of the day, casino profits mean tax revenue for regulators.)
The second “choke point” is funds transfers. Here, even if a casino is a “business” in the sense outlined above, that business might not be within a regulator’s jurisdiction. For example, United States regulators may want to discourage US residents from gambling at an online casino registered in Antigua.
US regulators don’t have jurisdiction over Antiguan casinos, obviously. But they do have jurisdiction over American financial institutions. So they make it difficult to process payments to Antiguan casinos. That’s basically the idea behind the primary anti-gambling laws on the books in the United States — probably the “messiest” jurisdiction when it comes to these types of laws.
Does that mean you can simply use crypto to make cross border deposits without worrying about funds transfers causing complications somehow?
In practice, a government generally cannot regulate crypto transfers because there is no financial institution to regulate, obviously.
But the casino is still receiving your funds transfer. They’re just receiving them in the form of crypto instead of fiat. So it could be that a definition gets triggered somehow.
Fortunately, BlockStamp Games offers a strong alternative for two reasons:
BlockStamp Games isn’t a business, or establishment, or any organization at all. It’s a collection of digital 1’s and 0’s.
The BlockStamp Games platform isn’t designed to generate a profit. We wrote the code — but if we want to generate money from it, we’ve got to play the games like everyone else.
There’s no house edge. There can’t be, because there’s no house! There are no fees for anything else at all, even receiving your winnings.
Your winnings are “flashmined” immediately on wins and your losses are “flashburied,” i.e. effectively destroyed in the blockchain. Nobody gets to keep these losses.
Which brings us to the second point:
There are no funds transfers to a business or establishment. You gamble directly from your online wallet.
If there is no business or establishment, you obviously cannot send your funds to one. Instead, all bets are placed directly from your own online BST wallet.
It is just you and the platform, which is open-source and decentralized. You’re the only human involved!
In conclusion, this stuff is complicated, with plenty of gray areas! And plenty of politics involved. Would you believe that Antigua actually won a World Trade Organization dispute against the United States about gambling? And the US has refused to pay millions of dollars in settlements? It’s true!
At the end of the day, all these complications usually just mean extra hassles for gamblers. In all likelihood, BlockStamp Games is going to be your most straightforward way to skip all that nonsense and just have some fun. That’s the whole point here! Visit BlockStamp Games and get started today.