Online Gambling Site Bets On Bitcoin To Avoid U.S. Laws

SomePgmr writes with a story about an online gambling site planning to use Bitcoin to sidestep U.S. regulations that effectively ban online gambling. From the article: "Michael Hajduk had sunk one year and about $20,000 into developing his online poker site, Infiniti Poker, when the U.S. online gambling market imploded. On April 15, 2011, a day now known in the industry as Black Friday, the U.S. Department of Justice shut down the three biggest poker sites accessible to players in the U.S., indicting 11 people on charges of bank fraud, money laundering, and illegal gambling. ... Infiniti Poker ... plans to accept Bitcoin when it launches later this month. The online currency may allow American gamblers to avoid running afoul of complex U.S. laws that prevent businesses from knowingly accepting money transfers for Internet gambling purposes. 'Because we're using Bitcoin, we're not using U.S. banks — it's all peer-to-peer,' Hajduk says. 'I don't believe we'll be doing anything wrong.'"

Comments

Re:Another idiot buying into the bitcoin scam.

[Cryacin]

And good job. Base your business off a virtual currency with ZERO backing and no control whatsoever.

And it's worse than US Dollars exactly how now?

Re:Another idiot buying into the bitcoin scam.

[VAXcat]

And platinum...don't forget the platinum...

I predict the future

[bitt3n]

I don't believe we'll be doing anything wrong

shortly to become

I didn't believe we were doing anything wrong

Re:And plutonium.

[tibman]

D.U. is typically sent to people for free. At a high velocity : )

Re:Another idiot buying into the bitcoin scam.

[tompaulco]

People who invest in Bitcoins are idiots. It is absolutely worthless. And even though it is worthless, I will still buy your Bitcoins for $10 USD each just so you won't be stuck in a jam of holding onto those worthless Bitcoins.