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Singapore Bans Crypto And Approves Cashless Casino Betting
Singapore authorities have taken a step forward in fighting money laundering schemes by banning cryptocurrencies at in-person or online casinos.
Money laundering has long been associated with offshore casino gambling, but only recently has it been linked to crypto schemes. Singapore has banned digital assets such as Bitcoin, Ethereum, Litecoin, and other cryptos from being accepted at their licensed casinos to add legitimacy to their online and in-person gambling services.
Betting with Bitcoin has grown in popularity over the last several years due to its convenience and fast processing times. Many players today seek online casinos that accept crypto for the bigger bonus rewards, instant transfers, and the additional security it provides by bypassing traditional banking methods.
Minister of State Sun Xueling told media sources that the changes were made to modernize the gambling industry. Xueling also stated that “The Gambling Regulatory Authority has no intention of allowing cryptocurrency to be used as chips for casino gambling as this presents money laundering risks.”
Can I Bet Online With Cryptocurrency?
Many trusted offshore betting sites will accept cryptocurrency, and several countries have even included digital assets in their in-person game rooms. For most players, crypto is a way to bypass currency exchange services and a faster way to fund an account or withdraw winnings.
For most online casinos that deal in the US dollar (USD), digital assets such as Bitcoin, Ethereum, Litecoin, and various altcoins are all converted to USD and added to the account holder’s bankroll. Players who deposit in crypto can also elect to receive their winnings in crypto.
Crypto Gambling Websites That Don’t Require ID
Be wary of casinos and sportsbooks that don’t require ID, these sites are often not licensed or regulated. Offshore betting sites such as Bovada and BetOnline allow players to sign up and bet without providing ID but require identification before withdrawing their winnings. Identification upon withdrawal is a normal process and is how most online casinos operate.
You should always read a site’s terms and conditions before signing up to avoid confusion. Most online gambling sites will accept anyone over the age of eighteen who hasn’t previously excluded themselves. Self-exclusion is another process many legitimate sites utilize for those players battling an addiction.
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Conway’s Revo Casino and Social House Prepares To Open
Dick Anagnost, one of the owners of the new Revo Casino and Social House in Conway, New Hampshire, told the media that the casino is expected to open February 1st, 2025. Anagnost also stated that more than 70 employment positions are already filled, and two local charities (Mount Washington Valley Promotions and the North Conway Community Center) are already poised to benefit.
The new charitable gaming casino is in Shurfine Plaza, which also houses the New Hampshire liquor store. Revo will move into the suite that used to be a grocery store. The new facility will be 11,800 square feet and include a bar, a restaurant, multiple table game options, and electronic gaming machines offering slots, video poker, and more.
Before the new casino can open, the building has to undergo a plumbing, electrical, health/safety building, and a Liquor Commission inspection. Anagnost said, “If we pass all of that, our (certificates of occupancy) would probably be issued Jan. 28 or 29, and probably 48-72 hours after that, we’d be open for business.” He also stated that a soft opening could possibly occur before February 1st.
On opening day, the casino will feature 75 gaming machines and table games, including blackjack, roulette, and poker. An adjacent smoking room with some gaming machines will allow patrons to smoke and enjoy gambling while the main casino floor remains smoke-free.
Anagost also stated that the casino has had more than 200 applicants and that the local community has supported the project, “I don’t think anyone in any of the casinos we’ve opened across the state has received so much attention.”
New Hampshire Casinos
New Hampshire currently has no commercial casinos but has 14 charitable casinos where a portion of the profits go to local charities. These casinos are no different from what you would find anywhere else in the USA except for how the revenue is disbursed.
Current NH gambling laws mandate that 35% of casino game profits go to charity, while another 10% goes to the New Hampshire Lottery for the state’s educational fund. This system has proved beneficial to the state’s bottom line, helping fund educational programs across the state.
However, while online casino options are limited to offshore sites, both in-person and online sports betting have been legal in the state since 2019. Sports betting in the state must also give 51% of online revenue and 50% of in-person revenue to the state.
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Virginia General Assembly Considers Tysons Casino Proposal
The Virginia General Assembly is currently deliberating a proposal to establish a resort-style casino in Tysons, Fairfax County. Introduced by Senate Majority Leader Scott Surovell, the bill aims to create an entertainment district with a casino, hotels, a convention center, and performing arts venues.
While labor unions support the casino, this initiative has sparked a robust debate among lawmakers, community members, and industry stakeholders.
Senate Bill 982, introduced by Senator Surovell, seeks to amend existing legislation to designate Fairfax County as an eligible host locality for casino gaming. The bill outlines specific criteria for the proposed location within the county and mandates a local referendum to secure voter approval before any casino development can proceed.
Potential Revenue
Proponents of the Tysons casino project highlight significant economic benefits. Senator Surovell points out that Virginians contribute approximately $300 million in annual tax revenue to Maryland by patronizing MGM National Harbor. By establishing a casino in Tysons, these funds could be redirected to support Virginia’s public services, including education and infrastructure.
Opponents’ Concerns
Conversely, some community members and organizations have raised objections. The McLean Citizens Association, for instance, has mobilized opposition, citing concerns about introducing gambling into the community.
Additionally, a group of former national security and intelligence professionals cautions that the casino’s proximity to sensitive government facilities could pose security risks, potentially making personnel with security clearances vulnerable to exploitation.
Virginia Gambling Laws
Virginia has three casino locations and several slot parlors. Offshore casinos can also accept VA players, as no state gambling laws forbid their use.
Domestic casinos were first launched in 2022, when the temporary Hard Rock Bristol opened its doors. The state allows commercial gaming facilities to accept players over the age of 21 and offer class III table games (blackjack, slots, baccarat, roulette, etc.).
Regulatory and Approval Process
For the casino project to materialize in Fairfax County, the following steps must be completed:
- Legislative Approval: The General Assembly must pass Senate Bill 982 to authorize Fairfax County as a potential casino host.
- Local Referendum: Upon legislative approval, the Fairfax County Board of Supervisors would be empowered to hold a referendum, allowing residents to vote on the casino proposal.
- Development Planning: If the referendum passes, detailed plans for the entertainment district will be developed, followed by zoning approvals and construction.
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Salem Approves New Gaming Facility Despite Concerns From Neighboring Communities
Salem, New Hampshire, recently approved a new “charitable” gaming facility despite concerns from the neighboring community of Lawrence, Massachusetts.
Located just over the New Hampshire state line, the city of Lawrence is the poorest in the state, and community leaders fear that a new casino-style gaming facility could lead to addiction and further poverty. Despite the concerns and the city asking Salem to reconsider, the state plans to proceed with the project.
On November 26th, the Salem Planning Board voted 5-2 to approve the project slated for the old Lord & Taylor store at The Mall at Rockingham Park. The casino will offer 1,300+ jobs, multiple restaurants, and event space.
New Hampshire Gambling Laws
The state of New Hampshire does not allow commercial casino gaming; however, it does allow charitable gaming. Charitable gaming in the state consists of blackjack, poker, and roulette. While other casino staples such as slots and baccarat are not allowed, the exception for charitable gaming offers residents entertainment and the state additional revenue.
Despite not having full access to class III casino gaming options, the state has 14 charitable gaming facilities that pay 35% of its gross gaming revenues to local charities. Another 10% of revenue goes to the state to fund educational programs.
Lawrence Officials Speak Out
Stephany Infante, vice president of the Lawrence City Council, is concerned that a new casino just over the state line will target residents of Lawrence. She stated to media sources, “In Lawrence, we’re trying to tackle financial struggle, mental health issues, addiction, et cetera, and this is just going to add another component to those challenges.” She also expressed her concern that “People who are struggling financially, or with gambling, which is an addiction, that’s the clientele any casino targets.”
The Lawrence City Council sent a resolution to the Salem Planning Board claiming that Lawrence residents are a primary target for the new casino. Several Lawrence City residents are concerned that a 10-minute drive to a casino could facilitate further criminal activities tied to money laundering.
Are Online Casinos Legal In New Hampshire?
New Hampshire does not license or authorize online casinos within state lines. Despite the restrictions, offshore casinos have been accepting players from New Hampshire and Massachusetts since the late 1990s and have become the go-to option for many players.
Online casino sites offer players popular casino games such as slots, roulette, baccarat, blackjack, poker, sports betting, and more. They also offer bigger bonuses, traditional and non-traditional casino banking options, and more game variations, which makes it easy to see why many players gamble online.
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