How Come Euro Regulated Books Do Not Accept Bitcoin??

**Optional** · 03-06-15, 01:40 PM

Good question.

Was going to say its not mainstream and legally defined well enough to be worth the risk for them yet. But I guess it's good enough for Microsoft and Dell.

**HeeeHAWWWW** · 03-06-15, 02:40 PM

No real need when you have plenty of quick, hassle-free deposit/withdrawal methods. That's even before you consider e-wallets.

**Spacefrog** · 03-06-15, 04:58 PM

I believe its a regulatory demand.
Portuguese Online Gaming Regulation that will be in force later this year says explicity tha bookies can only accept "moeda com curso legal em Portugal"
I let it in Portuguse because i don´t know exactly how to translate to English.

Meanwhile google helped me a little and says it means " legal tender in Portugal"

**bilbaobaggins** · 03-06-15, 07:54 PM

pretty much down to the fact they don't need it as an option. Gambling is allowed in the EU and thus payment processors aren't blocked by the government as they are throughout the US.

What payment methods in the EU can still be used in the US? (I genuinely don't know, but I would guess there is a large difference).

Also might be because of charges aswell - most EU bookies only charge for *********** transactions, virtually everything else is free.

**bilbaobaggins** · 03-06-15, 08:04 PM

Due to being wrecked, probably left out the most obvious issue of KYC / fraud / money laundering! As bitcoin is supposedly anonymous, the legal and halfassed regulated bookies in the EU will want to know where the money is coming from. All the "illegal " US facing bookies won't give a shit and will just want customers so pretty much won't care

**flyingillini** · 03-07-15, 03:50 AM

Simply because they don't need to. The players they have do not need to hide or filter their action.

**dance1959** · 03-07-15, 06:43 AM

Because Bitcoin is not regulated!. You ask to many stupid questions JJ.

**shaunovery** · 03-07-15, 04:25 PM

Don't need bit coin so many other deposit methods without using it

**jjgold** · 03-07-15, 09:27 PM

Originally posted by bilbaobaggins

Due to being wrecked, probably left out the most obvious issue of KYC / fraud / money laundering! As bitcoin is supposedly anonymous, the legal and halfassed regulated bookies in the EU will want to know where the money is coming from. All the "illegal " US facing bookies won't give a shit and will just want customers so pretty much won't care

I think that is the best answer

Most European books require deposits with a name behind it that matches your name..maybe other than some of those pre paid cards?

**bilbaobaggins** · 03-08-15, 06:41 AM

Most euro books take prepaid cards apart from paddy power not sure how long they've had that in place, but if it's fairly recent then I'm sure other books will follow suit.

Quite odd really as there are plenty of prepaid cards in the UK that require your details + to be verified or they are limited to what you can do. They also require you to be over 18 in most cases.

Paddy Power claim that they stopped accepting them as age cannot be verified.

**jjgold** · 03-09-15, 07:37 PM

I just do not know the future of bitcoin and gambling

If bitcoin becomes regulated you can bet no more usa players will be allowed to fund for gambling offshore

**minet123** · 03-09-15, 07:45 PM

DUHHHHHH

because it's a scam (it has no value but the value that the adopters assign to it)
and I have bitcoins in books and on numerous bitcoin exchanges
but only what i can afford to lose
it's the same as having an account at betus or sportsbook

**bilbaobaggins** · 03-09-15, 07:53 PM

Regulation is one of the issues as to its volatility. No regulation allows the currency to be anonymous to a certain extent, which is why it is a great way to transfer money for criminal activity. Anyone on here remember silk Road??? If I remember correctly (might be wrong and it may have been something else) bitcoin was trading at around $1200 before that operation got busted and the price plummeted. Add in all the other frauds / hackings over the last 18 months, you can see why people pulled out and the value dropped.

It's pretty much turned into the BlackBerry of currency with a slide in value like that

**T4TRUTH** · 03-09-15, 08:20 PM

why bother having bitcoin. they all have several walk up brick and mortar stores that the huge masses of business come from, you walk in tell the clerk behind he counter please deposit to my account , hand them cash and they reply within seconds, "thats in your account now" you want payout after spending all night playing poker, horses, sports whatever. you walk back into the same store you did your deposit you tell them i want xxx withdraw they ask for your ID make sure it i you and hand you cash.
sorry did I not, I meant to write "CASH" so why would they want virtual money when they get tons of the real thing?

**raiders72001** · 03-10-15, 02:52 AM

Originally posted by bilbaobaggins

Regulation is one of the issues as to its volatility. No regulation allows the currency to be anonymous to a certain extent, which is why it is a great way to transfer money for criminal activity. Anyone on here remember silk Road??? If I remember correctly (might be wrong and it may have been something else) bitcoin was trading at around $1200 before that operation got busted and the price plummeted. Add in all the other frauds / hackings over the last 18 months, you can see why people pulled out and the value dropped.

It's pretty much turned into the BlackBerry of currency with a slide in value like that

Silk road wasn't the cause of bitcoin prices dropping. At the time of the silk road shut down bitcoins were trading at around $600.

**xtrader** · 03-10-15, 08:28 AM

Originally posted by jjgold

I think that is the best answer

Most European books require deposits with a name behind it that matches your name..maybe other than some of those pre paid cards?

Some EU book do allow deposits via cash-vouchers like paysafe but they have more restrictions on withdrawals.

**bilbaobaggins** · 03-10-15, 04:14 PM

Originally posted by raiders72001

Silk road wasn't the cause of bitcoin prices dropping. At the time of the silk road shut down bitcoins were trading at around $600.

Should have written my statement a little better, wouldn't have been that just on its own, are you sure on that price. I'm sure bitcoin was definitely above the $1000 mark in December 2013, which is the same time silk road went down.
The fbi auctioning of the confiscated bitcoins probably didn't help the value either

**raiders72001** · 03-10-15, 06:30 PM

Originally posted by bilbaobaggins

Should have written my statement a little better, wouldn't have been that just on its own, are you sure on that price. I'm sure bitcoin was definitely above the $1000 mark in December 2013, which is the same time silk road went down.
The fbi auctioning of the confiscated bitcoins probably didn't help the value either

I was day trading at the time. I could be wrong but thought it was around $600 during the silk road confiscation. The high mark was over $1200.

Regulation, such as in China can hurt bitcoin's price. I wish the price would stabilize so that it would be thought of as a legitimate currency.

**jjgold** · 03-11-15, 11:27 AM

Bitcoin being unregulated will always make it somewhat of a weary and not trusted currency