What makes bookmaker legal?
This is great question, because the more people you ask, the more different answers you get. Unfortunately, none of these answers is right, but I would like to tell you about several of them, just for the demonstration. By the way, Bitgoals is not licensed in any country, as far as I know, but you will quickly understand why it does not matter at all.
Some say that licensed bookmaker is one that get license. But who is responsible for giving licenses? And what kind of requirement should be met to get this licenses? License means that bookmaker have right to make operations within certain country, which gave it license. And, that’s literally all, folks. We are talking only about physical bookmakers. Some say that licensed bookmaker is the one that passed several governmental checks, but in most cases government representative does not check a thing.
Talking about online bookmakers, license does not matter at all, because it may be bought in one of several small countries that could provide you with any kind of documentation for a certain amount of money. The trick is that license covers only one country and only citizens of this country. It means that when bookmaker from Cyprus fools you, but you live in Japan, licenser does not care about your problems. Quite comfortable satiation for fake bookmakers, right?
There is nobody to trust in betting industry, so I choose only safe option: decentralized solution, which eliminates any need to trust it. I choose Bitgoals, and I want you all to follow my way.
Trustless future of online betting
You need to understand that Bitgoals is not betting platform, it is service provider. Bitgoals unites experienced gambling software developers from all over the world to create the best solution you have ever seen. By the way, all of them has licenses and it is very important, because significant amount of scammers and fake gambling developers could be met in this industry. However, you do not need to trust them, because everything is totally transparent.
All data about you winnings and looses is stored on blockchain. It means that it could not be changed by bookmaker, so you can be sure that you will get as much money as you have won (or lost, it does not matter). Such feature completely eliminates any kind of “shave”. For newbies: it is process when bookmaker steel part of you money and change data about it; it works with centralized bookmakers and it will never work out within Bitgoals system.
Bitgoals is compatible with most of existing bookmakers. All they need to become part of ecosystem is to want it and to contact with Bitgoals team. I also like that I need to make bets and transactions in Bitgoals tokens, because it helps to increase my winnings. As you may know, demand for tokens is pretty high, so it value will grow in future. Today you win tokens wroth $10 and in 2 days they will be worth $15. That is what I call successful investment.
Website – https://bitgoals.com/
Whitepaper – https://bitgoals.com/wp-content/uploads/2018/06/Bitgoals_WP_3.pdf
ANN Thread – https://bitcointalk.org/index.php?topic=4428882.0
Author bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=95863
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