Tagged: Gambling

With no government ties, Bitcoin is used to buy everything from blogging services to Brooklyn-made cupcakes. Theoretically, millions of dollars are being kept in the digital currency, and it's increasingly being used by specialized online gambling websites. But is Bitcoin gambling legal?

Purely in the interests of journalism, I decided to get my hands on some of the currency. When I did so, Bitcoin, which has been around for a few years now, was fetching around $17 on most exchange sites. It has since risen to more than $20.

In the early 2000s, the get-rich-quick scheme of choice for young college dropouts was poker — and not your grandfather's poker, with clinking chips on green felt tables. Online poker. For a few years it was a national obsession for a generation of young men who grew up playing hours and hours of video games.

Many of these players couldn't get into casinos because they were underage, but they used their brains and introductory statistics courses to rake in millions, often playing 10 or more games simultaneously on huge computer monitors.

For those dearly devoted of you who paid attention to me in September, I noted that the best bet in the NFL had proven to be whenever a West Coast team played an East Coast team at night, because the Pacific players had their body clocks better set.