Bitcoin gambler has account closed by Circle
An online sports bettor who uses bitcoin to fund sportsbooks has had his account closed by Circle.
Circle is one of the biggest and most well-known bitcoin exchanges serving the US market, second only to Coinbase.
Both exchanges also function as wallets allowing users to store their funds and receive payments. Because both exchanges are located in the US, each expressly forbid users from making transfers to sports betting sites using their service, though gamblers are able to skirt around this restriction by using intermediary wallets such as Blockchain.info.
The bettor shared the grim news at the SBR sports bettors forum: "So I got an e-mail from Circle saying they are closing my account due to "Restricted Activities". Seems like Circle is catching on to what is going on."
SBR advises bitcoin enthusiasts looking to exercise their personal liberties and make sports wagers to review the recent four-part bitcoin webinar hosted by Sportsbook Review.
The webinar covers how to use bitcoin optimally and minimize the likelihood that exchanges such as Coinbase or Circle will close your account, what the risks and rewards of bitcoin are, and how to acquire and receive bitcoin from merchants including online sports betting websites.
Shop for a list of bitcoin friendly sportsbooks.