Data shows a large majority of the bitcoin holders belonging to the United States of America are using their crypto rightfully, whereas, on the other hand, a small portion of the consumers are using it for illicit online gambling.
Despite wherever on Earth you inhabit, gambling is not considered a noble thing to do and is mostly not accepted eagerly. Surprisingly, the United States of America is also not an exception to it. However, online gambling has surfaced widely in recent days having its wrath, especially in the United States.
As per a survey conducted by BonusInsider, about 95 percent of bitcoin holders in America are using their bitcoin as per the legal limits. Among these 95 percent holders, about 33 percent have claimed to use their bitcoins to speculate. 28 percent of the respondents say that they are saving their bitcoins as investments. About 16 percent of respondents have claimed that they are using their bitcoins on various online services including VPN services, web hosting, etc. Whereas, the remaining respondents have bought expensive items using their crypto.
However, 5 percent of the remaining bitcoin holders have claimed to spend their crypto on online gambling. Here comes the twist because there are no authorized operators in the United States that deal with crypto as deposits. It could only suggest that these people are spending their bitcoins on illegal gambling.
Moreover, as per the report, each month the United States suffers a loss of about several million dollars in tax money due to online gambling. Serious actions must be made by the government to inhibit such transactions or else it can result in severe harm to the overall society. As people who are too invested in gambling are prone to severe addiction, depression, domestic abuse, violence, and even suicide. Take a look at below infographic for more insights:
Read next: Developing countries find their harbor in Crypto Market
Despite wherever on Earth you inhabit, gambling is not considered a noble thing to do and is mostly not accepted eagerly. Surprisingly, the United States of America is also not an exception to it. However, online gambling has surfaced widely in recent days having its wrath, especially in the United States.
As per a survey conducted by BonusInsider, about 95 percent of bitcoin holders in America are using their bitcoin as per the legal limits. Among these 95 percent holders, about 33 percent have claimed to use their bitcoins to speculate. 28 percent of the respondents say that they are saving their bitcoins as investments. About 16 percent of respondents have claimed that they are using their bitcoins on various online services including VPN services, web hosting, etc. Whereas, the remaining respondents have bought expensive items using their crypto.
However, 5 percent of the remaining bitcoin holders have claimed to spend their crypto on online gambling. Here comes the twist because there are no authorized operators in the United States that deal with crypto as deposits. It could only suggest that these people are spending their bitcoins on illegal gambling.
Moreover, as per the report, each month the United States suffers a loss of about several million dollars in tax money due to online gambling. Serious actions must be made by the government to inhibit such transactions or else it can result in severe harm to the overall society. As people who are too invested in gambling are prone to severe addiction, depression, domestic abuse, violence, and even suicide. Take a look at below infographic for more insights:
Read next: Developing countries find their harbor in Crypto Market
