Bitcoin soccer betting sites currently have many users in various parts of the world. Although many countries prohibit gambling, there are still many people who gamble illegally. The use of bitcoin has been found in many countries.
This type of gambling is not done face-to-face like conventional gambling. Gamblers do this through online gambling. Through a gambling service provider site, they will make transactions.
Several cases were found that bitcoin gambling was even carried out illegally and clandestinely. Even sites that are used use the dark web so they cannot be tracked by cybersecurity systems.
Bitcoin in recent years has been very popular. The Bitcoin business in recent years has been very popular. This type of crypto business is booming as is the trend of investing in stocks.
The rapid development of blockchain has also made bitcoin widely known. The tokenization or process of digitizing assets in the real world into the digital world also encourages people to make transactions with bitcoin.
This transaction is used to be more effective and efficient as well as to obtain profits without using intermediaries. Then how is bitcoin applied in online gambling? Can the public accept it including Bitcoin soccer betting?
Bitcoin Gambling Perpetrators Arrested by the Chinese Police
The world cup season is indeed synonymous with soccer matches around the world. No exception with the increasing prevalence of soccer gambling. Online gambling has been done a lot since time immemorial. The soccer gambling trend has a high demand in various circles around the world.
Following the times, online soccer gambling then made an update. One way is to use Bitcoin soccer betting where bitcoin is a transaction and betting tool. In this system, online soccer gambling sites do not use real money, but virtual money.
In this Bitcoin soccer betting case, the Guangdong Provincial police arrested a number of people who were involved in it. There are at least six suspects who have been named the masterminds of this bitcoin soccer gambling.
They are betting bitcoin or cryptocurrency as much as CNY 10 billion or the equivalent of IDR 21.4 trillion. This number is certainly very fantastic and surprising considering the large number of figures. This bitcoin bet is made using an online system.
After investigation, the bets used were not only bitcoin, but also ethereum and litecoin. The rapid development of digital money has encouraged them to take existing opportunities by gambling. These six people have been conducting gambling operations with cryptocurrency for eight months.
To trick the police, the transaction and gambling processes are carried out via the dark web. This is done because this action is illegal, so if you use the normal web it will be easily traced by the authorities.
According to local police reports, they even have as many as 300 thousand gambling members. These members are scattered in various countries of the world. The system used for recruiting is the agent pyramid system. There are 8 thousand agents who are tasked with recruiting new gambling players.
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With this system, online gambling syndicates using bitcoin or cryptocurrency are easily spread in various countries. Of course, this recruitment is carried out with an internet network where it is easy to add members.
World Cup Gambling with Bitcoin Many Fans of Football Lovers
The world cup match for many is a big moment that is celebrated every four years. This grand celebration encourages gambling players to further increase their activities. Of course they played this soccer gambling secretly.
Some soccer gambling is still done conventionally, but many have also switched to online systems. Online soccer gambling using bitcoin is a new thing in the world of betting. The increase in bitcoin transactions encourages users to use it for gambling activities.
At the 2018 world cup match, the Chinese government through the Guangdong police arrested this bitcoin online gambling syndicate. This arrest is of course an attempt to curb gambling in China.
In this bamboo curtain country, only two types of lottery gambling are legal. Meanwhile, soccer gambling and others are prohibited. So that online soccer gambling games that use bitcoin are considered illegal.
Gambling syndicates that use bitcoin and cryptocurrency in China are indeed involved in criminal action control plans.
Previously the local police had named 540 suspects. The amount of money frozen was CNY260 million or IDR 557 billion. With such a large number of course the local police will continue to carry out raids and control.
Gambling, Bitcoin, and Cryptocurrency Banned in China
The rule carried out by the Chinese government in gambling with bitcoin is an action to limit the use of cryptocurrency or virtual money. The Chinese government has so far closed access to the use of virtual money because it is considered to have disturbed the stability of the country’s economy. Also includes online soccer gambling sites with bitcoin.
The rule carried out by the Chinese government in gambling with bitcoin is an action to limit the use of cryptocurrency or virtual money. The Chinese government has so far closed access to the use of virtual money because it is considered to have disturbed the stability of the country’s economy. Also includes online soccer gambling sites with bitcoin.
They are worried that with the large use of bitcoin, the financial condition in society will be disrupted. The National and Reform Commission (NDRC) of China since 2017 has issued regulations prohibiting mining of cryptocurrencies.
This is why online gambling, including Bitcoin soccer betting using other crypto currencies, is also not allowed in China.
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