dragondyce.com

Legality regarding an online gambling operation that involved virtual (MMORPG) currency instead of real money Reposting because my first post didn't get any replies of advice I was looking for... I'm curious, does a website that operates gambling games where players must deposit "virtual" currency such as RuneScape or WoW gold to gamble have any regulations they must follow? There are several of those operating already, in RuneScape alone. Example: [1] www.dragondyce.com (hope it's ok to put the link). Since no "real" money is involved, are they free to do whatever they want without needing a license for the gambling business or paying any tax? Because the reality is this: they make real profit by accumulating the virtual currency (house always has a significant advantage in the games) and then sell the virtual currency for real money in the "black" market of MMORPGs. They actually make tens of thousands of dollars per month, seemingly tax free. Another more specific question - are they not required to have the winning odds and software code visible to players, like they would in a real casino? Because as it is now, they could be advertising a game where the player has a 45% chance to win but that could very well be coded as 30-40% within the software, the source of which is not accessible to the player. I understand this is a pretty new niche, just wondering if anyone has any insight regarding it. Thanks.

Legality regarding a gambling operation involving virtual (MMORPG) currency? I'm curious, does a website that operates gambling games where players must deposit "virtual" currency such as RuneScape or WoW gold to gamble have any regulations they must follow? There are several of those operating already, in RuneScape alone. Example: www.dragondyce.com (hope it's ok to put the link). Since no "real" money is involved, are they free to do whatever they want without needing a license for the gambling business or paying any tax? Because the reality is this: they make real profit by accumulating the virtual currency (house always has a significant advantage in the games) and then sell the virtual currency for real money in the "black" market of MMORPGs. They actually make tens of thousands of dollars per month, seemingly tax free. Another more specific question - are they not required to have the winning odds and software code visible to players, like they would in a real casino? Because as it is now, they could be advertising a game where the player has a 45% chance to win but that could very well be coded as 30-40% within the software, the source of which is not accessible to the player. I understand this is a pretty new niche, just wondering if anyone has any insight regarding it. Thanks.