Bitcoin Forum

Hi guys.

What is best/safest/easiest wallet to use for crypto gambling?

Currently I am using Binance wallet, but I heard that they can lock account and ask about these transactions.

Regards

Some well-known exchanges also I think it's safe for gambling transactions and never asked about gambling transactions all for me this is fine, and I also use Binance to do that.

If you want to be more secure than others, it's better to use a wallet that you hold the private key in, such as Trustwallet and other wallets I think this is a lot and it is much more secure than exchanges.

One of the best options is to use a non-custodial wallet (https://medium.com/guarda/%EF%B8%8Fcustodial-vs-non-custodial-wallet-s-%EF%B8%8F-benefits-of-light-wallets-87cf701054d1) where you keep its own seed/private keys such as electrum, metamask, trust wallet and etc.

I have no idea why some people treat an exchange as their own wallet, keep in mind that binance is a third-party service that has full control over your funds and on the contrary you aren't. If they think there something suspicious with its user's transactions, they would investigate it and high likely freeze that suspected account.

First of all you should tell which types of currency you want to use. If you want to use dogechain then there is no safest site than dogechain.info, if you want to use ethereum then you should use myetherwallet.com if you want to use bitcoin then you should use any wallet who provides private key or seeds so that you can use it without locking your fund.

Best wallet = the safest is hardware wallet or air gapped wallet or light non-custodial wallet.

Easiest wallet = Multi cryptocurrency wallet (e.g. Guarda and Trustwallet (but isn't fully open source))

However the choice depends on you whether you want to use the safest or easiest, since there's no safest and easiest wallet until now.

When it comes to convenience the non custodial wallets mentioned by ahmad should be enough since you only need to avoid direct transactions between exchanges and casino. If you want something better you can go for hardware wallets (trezor or ledger).

I haven't heard any cases about binance locking accounts due to gambling transactions so you're probably safe for now but it's not recommended to use exchanges since they could change the terms and conditions in the future.

Using an exchange wallet to store funds is not always advisable I always avoid using a wallet that I don't have the private keys to, I use trust and metamask wallets, to a great extent am satisfied with the features. As I can easily connect to other platforms.

Binance wallet is not a wallet but exchange, and if you want to really own your coins you need to have some non-custodial wallets like Exodus, Coinomi or Atomic wallet.
Those wallets are used for multiple coins, but you can also use hardware wallets or separate wallets for each coin.

Haven't heard of any crypto gambling specific wallets so far. You can simply use the popular and reliable wallets(Hardware and Software) which is usually what crypto gamblers like me tend to use.

Personally, I suggest using Exodus wallet or Green Wallet. You could also use P2P sites like Localbitcoins for quick BTC to Fiat and vice versa conversions.

Binance has never been a wallet. It's just an exchange or custodial service. If you want a wallet to keep your coins in, go for noncustodial wallets such as electrum, Trust wallet, Jaxx, Exodus etc

You should just use exchanges like binance, Kucoin to just exchange or trade your assets. Not storing them there.

noncustodial wallets are really preferred if you don't want to tie up your account to gambling activities. you will find out that electrum is one of the easiest one that you can use for btc, but just like what shasan said, it depends on the coin that you are referring to. if it is not btc, and the OP is also referring to other alts, you can use trust wallet, jaxx.
as everyone is saying above, binance is not a wallet but an exchange. if you have the fear that one day the exchange will freeze your account, better start using noncustodial wallets.

^ Non-custodial wallets are the best wallet for cryptocurrency that you will hold the private key which is you have full control over your crypto asset.
You are right, Electrum is the best aside from hardware wallet since you don't need to purchase it, if you have time and already bought hardware wallets such as Ledger Nano or Trezor, that is good for you. Nevertheless, if you are planning to use a custodial wallet that asks for KYC verification, be careful of sending BTC because most of them will freeze your account if they know that it is from gambling, they avoid it to follow KYC/AML protocol which is possible money laundering.

Yes mate Binance exchange is the best popular cryptocurrency exchange in the market. You can undoubtedly use Binance exchange wallet, you can also use trust wallet and metamask wallet because both wallet safe for your withdraw and deposits.   

Wallet should be safe and secured because everyone person keeps their assets secured. Trust wallet, electrum, metamask, safepal and trezor etc wallets very much popular and secured wallets for researving your cryptocurrencies even sportsbook deposit and withdrawals. But Binance exchange not a wallet but a popular cryptocurrency centralized exchange.

Which wallet lock their user account by using it on gambling  transaction? since so far I didn't experience those by the way  I'm using trust wallet and electrum on dealing with casino so maybe try this recommendation or what is more convenient for  you to use and check the suggested wallets by other   forum members and try it one by one. Take note to choose only those wallet who got recommended by many  times since that is tested by the users itself.

Dont put your funds from gambling sites to your exchange wallet because if they find out or locate this transaction surely you will be facing banning or freezing of funds.

Best to use custodial wallets for your own safeties .

I would agree with the people who posted before me that to use a non-custodial wallet that you control the private keys to.

Anyway, the best way you can utilize that if you are using Binance as your wallet, is to play with their partner casino. BPlay. I'm just not sure if there are sports books there. I haven't tried it myself but maybe soon

You can add more information on what coins/tokens you usually send on your favorite crypto gambling site so that users here will suggest you specifically on what you should use. Don't use custodial wallets or exchange wallets because most of them tend to comply on some regulations. You may not have an issue this time but expect and assume you may experience it.

They are just a typical casino that offers popular games and they do not offer bookies per this article.

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Everyone's recommendation is correct. If you're a high roller, then it would be better to protect your funds using a hardware wallet (e.g, Ledger (https://www.ledger.com/), Trezor (https://trezor.io/) ) and Electrum as your interface. It's a lightweight wallet that majority of beginners and even myself use for storing large amount of bitcoin.

Or if you want some analytics and discussion which wallet to choose from. Read this.
FOR NEWBIES, wallets to choose from and analysis by Veriphi (https://bitcointalk.org/index.php?topic=5202959.0)

If you have decided to use Electrum, then learn how to verify (https://bitzuma.com/posts/how-to-verify-an-electrum-download-on-windows/) it to avoid hacking issues.

I have seen a topic like this before, but I forget which board. the solution is one, don't put your balance in an exchange wallet, use the wallet to which your own the key after that transfer it from your own wallet to exchange. this trick will save you from banning deposits from gambling sites.

Thank you for clarifying this. I wasn't able to do some searches about it and my internet is kind of crappy right now and it doesn't load. Maybe they would have this type of section on their site, it's a great benefit to have this as well. What I like about the idea is that they have ease of transfers when needing funds or something.

Is using Binance wallet for gambling illegal?

Any wallet can be good and safe to use as long as you don't give away your private key to the casino. Been using all the wallets I've had for casinos actually even the MEW which I would connect to a casino app. I'm not sure how safe it is but as long as I don't have huge ETH there, it's fine. A good practice to just put small money inside a wallet that will be used for gambling.

Just like almost all the replies above , Don't put your funds directly from Gambling sites to Exchange specially binance because the opportunity of getting frozen or banned are there.

There are several issues here that says binance hold their funds because being found that the amount comes from gambling in which most exchange does not support .

I'm not sure if this is illegal but it is not safe because of some cases that tackled here even before.

and also our own local Exchange prohibit us to put the funds directly from gambling site because you will be banned.

The best wallet is non-custodial wallets: Bitcoin Core, Electrum wallet. If you don't want to spend too many storage space for your wallet, Electrum wallet is the best, it is a SPV wallet and does not require too much storage space.

[GUIDE] How to Safely Download and Verify Electrum (https://bitcointalk.org/index.php?topic=5240594.0). Verify your Electrum wallet as the guide topic shows.

Gambling sites have strict rules for deposits and mixers/tumblers. You have to read their rules about Tumbling, mixing in either FAQ or ToS (Term of Service). Try to search with KYC, AML, tumbling, mixing, etc.

With non-custodial wallets, you have private keys and can use Coin Control feature for your inputs when you broadcast your transactions to exchange or gambling site.
https://bitcoincore.org/en/download/
https://electrum.org/#download
Recommended wallets (https://www.lopp.net/bitcoin-information/recommended-wallets.html). If you want to broadcast your transactions with Tor and Coin Join transactions, use Wasabi wallet. (https://wasabiwallet.io/#download)

Yes, it is. It is better to use another wallet that will use to deposit and withdraw the win money. We can keep the funds in that wallet and not send to anywhere except to deposit on the gambling site. But you can send it to the exchange if you want to convert the coin into fiat money. That will be better for you as you do not want to have a problem with the gambling site or the exchanges.

Yes never put your Funds in any exchange for long time because the opportunity of losing is always there.
and also most exchange prohibit user to transfer funds from gambling sites because they are preventing from breaking laws in their respective countries about KYC.

It seems that I opened very nice topic which will help many other users in my opinion.

Thank you for you great response guys/girls!!

So I will choose Electrum non-custodial wallet for gambling purposes.

Again, thank you for great feedback!

I'm using exodus for my recent gambling activity, I was using electrum in the past but since I'm not playing with bitcoin only then I moved to Exodus where I can store multi currencies at one place. Sometime I use local exchange when I have no crypto at all and I need to buy it from exchange, so far so good without any issues but you need to make sure that gambling activity is not something against the rules of the exchange. Otherwise you'll get a serious problem and you may lose your funds.

I've never heard of Binance taking action against transactions between them and gambling sites. From my own experience, I do that several times already without a problem.

I doubt that was the case but mostly, accounts locks are due to some other reasons like flagged and alarm transactions, unauthorized login attempts, or something along those lines, etc. Binance users are free to withdraw up to BTC2 per day without KYC so I conclude that they are not that strict too on gambling transactions. However, if the amount involved is decent, just withdraw it in batches.

Using a non-custodial wallet is the recommended one in terms of "Safety" but if you are regularly funding your gambling site account, you can directly transact with Binance.

Or if you really want to make sure that everything goes without a problem then;
- Deposit fiat and purchase crypto at your preferred exchange
- Transfer to your non-custodial wallet
- Transfer to the gambling site

For withdrawals
- Gambling site > Non-Custodial Wallet > Exchange

EDIT: (for correction)
Daily withdrawal limits for Basic Account reduced from BTC2 to BTC0.06.
First saw it here: https://bitcointalk.org/index.php?topic=5351522.0;topicseen
Binance: https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70

When it comes to exchange, I prefer Binance not just because it's famous but it's been trusted for a long time. I also find it convenient to use since its user friendly. When it comes to the wallet, I prefer using a hard wallet in storing my funds. I'm trying to get rid of online wallets because hacking could be everywhere.

That is good if you finally choose Electrum. Just remember not to share your key to others and keep it for yourself.

Finally, Binance reduces the withdrawal limit from 2BTC to 0.06 BTC. But we still need to verify ourselves before withdraw. So before the new rule applies, we can withdraw it to the other account if we still do not want to verify ourselves.

I tried to move some balance from Binance to the other wallet just if I forget to do that before the new rules apply. We can use the basic verification on Binance to still withdraw, and no matter if that is 0.06BTC, that will be enough for people who do not want to do complete verification.

Like Binance or not, you should decentralize your crypto on a few exchanges if you store your capital on exchange wallets.

However, it is not the best advice to store your capital on crypto exchanges. You can not control what might happen with exchange (hack, crackdown, scam exit, etc.). You can not control your private key.

If you don't have hardware wallet, you can use non custodial wallets: Bitcoin Core, Electrum wallet, Wasabi wallet for your Bitcoin.
https://www.lopp.net/bitcoin-information/recommended-wallets.html

i think hacking is not his concern but the blocking of his withdrawals and deposits because some wallets are strict when it comes to transfering funds to gambling sites but no doubt that binance is one of the best exchanges and we can still continue using it but we should first create another wallet preferably the wallet where we can own our keys because they dont have restrictions and we can send the funds their before sending it to binance or to a gambling site if we are depositing .

Using electrum might be the best choice for those who will use it for bitcoin only but it doesn't support any other crypto. I also use electrum for bitcoin, dogechain for dogecoin, myetherwallet for ethereum and for others use exchange site.

I would say that it is somewhat safe since its an outgoing transactions on where these platforms wont really be that keen nor minding on where those funds  do go and they do only matter on the  funds that do inbound into your account which if you do deposit something came from a gambling site then it would be mostly  against their TOS and for most platforms would really be just the same. Asking out on what wallets are worth to make use into  your gambling then it doesnt matter but i do much prefer on using non-custodial ones like Electrum for Bitcoin and Myetherwallet for Erc20 and so forth. You wouldnt know on when those platforms would
be hacked and since you dont possess the keys of certain wallet then those coins are never been yours in the first place.

The sites who has no private key and/or who has no passphrase or something like that are not safe. And also many exchange site does not allow their user to gamble. For example coinbase does not support their user to deposit/withdraw on/from any gambling sites. If they find out it happen then they disable their users account.

Do you have any real evidence or has there been many complaints about Binance doing that? I would think it would be extremely bad for business and don't understand why they would restrict peoples wallets like that with all the other type of activity they allow (e.g. high leverage trading). It is possible they are gearing up for a stock market listing so are trying to scrub activities they perceive as "illicit" or vulnerable to money laundering, but any major provider would face the same theoretical obstacle. You could always try Kraken or Coinbase, but maybe it is best to control your own wallet via the Bitcoin core if you think this will be a long term activity.

Not a suggestion but just want to share with you that I already did lots of lots of transactions between Binance and a gambling site. Don't worry. If the transacton is not questionable, you shouldn't have a problem. Gambling sites are also a professional business.

Without valid proof that Binance locked up accounts about gambling transactions, don't believe in it.

Those who locked their accounts maybe violate other terms, not related to gambling.

You can risk out but for sure it is written into their TOS but since you do already have the experience and prove it out then its safe to presume that it is still possible to do so but always mind off the risk

because we dont know on whats up into their minds but if they do really mind off on getting users and retaining it then most likely they wouldnt really care at all on where those funds came from on the first place.

Use the wallet that would really suit out your needs or preference but i not really really recommend non custodial specially if funds been holding is for long term too.

Yes some gambling site restrict you from depositing cryptos that comes from gambling site, you can use electrum for Bitcoin wallet and trust wallet or metamask for altcoins, thru this wallet you don’t need to fill up any KYC, you just have to protect your seed phrase and keep it on a safer place, don’t share it to anyone.

I checked Binance's TOS multiple times and there's nothing mentioned about restricted transactions coming from other services so it should be fine.

The only issue is that in the future they could make some changes in the TOS and include those restrictions.

Why not ? non custodial is better because you have control over your wallet.

Just make sure that you're not using any centralised exchange/hosted wallet.

Fact of the matter is that even if they don't explicitly ban the withdrawal/deposit of gambling related funds into their site, they can always change that stanec and freeze your account.

You don't want to risk that imo. Just stick to the basic stuff - Electrum if you can get desktop applications, or Blockchain.com if you need a browser version.

I agree. Electrum might be the best user-friendly and free application out there to store your Bitcoins.
The problem with centralized wallets is they might freeze your funds if they see most withdrawals came from a gambling site.
Just to be on the safe side, send it to something with your ownership.
You might spend more from withdrawal fees from the gambling site then, another if you want to exchange it for cash but if it means the whole security is fine then just do the longest method.
You prevented your funds from being frozen and remained part anonymous.

you didn't go into detail about your question, you didn't explain what coin you used...

So far I use trust wallet and safepal to make multi-coin transactions to my subscription gambling site. I don't have any problems and what I like the most is that we can customize the bitcoin fee.

That's not even a wallet of course it's not safe. It's an exchange wallet, try to download a software wallet like Bitcoin core or Electrum wallet for Bitcoin wallet and use other software for other cryptocurrency. Remember that if you don't have the private key of your wallet then that's not even your wallet at all.

Can anyone tell me how will centralized know that the funds came from a gambling site?  I'm only seeing threads before that someone claimed their account got frozen because funds came from a gambling site but no proof that the site itself tells their users that's the exact reason. Coinbase for example but not seeing cases like that in Binance. I think there is another reason why their account got frozen and not because the money was coming from a gambling site.

Furthermore, if OP is really worried, then an extra step of using a non-custodial wallet is necessary.

I dont really get what you mean with the bold part of your statement. Do you mean to say transferring money between gambling sites like I withdraw from duelbits and deposit it directly to rollbit? If you say so, I do not think there is a site that restrict such activity because I do not see any reasons why gambling sites restricts their player to deposit from other gambling sites.

it's a constant choice if you are a serious gambler, Non-custodial Wallet, for now one of the most preferred options used by many gambling addicts, Besides being safe for yourself. Non-custodial wallets, only you can access your private keys. You also have freedom about your funds. That's why I advise you because you are using a non-custodial wallet, so the security of your own private key is responsible for this, so be careful and always place it in the safest position and easy to use, don't lose it, it can be fatal.

Most of us agree to use separate wallets such as Electrum, Trust, Exodus, Guarda, Coinomi or Jaxx for multi coins because we control the wallet and we do not have to be afraid of prohibition that we can get in the future if we use a wallet from the exchanges or other web-based wallet.

Maybe the exchanges still allow us to send or deposit our funds through gambling sites to that exchanges but the exchanges can change their policy in the future and mostly, we are not aware of that.

I guess it's possible for some casinos to link the hot wallets whenever they withdraw from site to the other but from my experience sending funds directly shouldn't be an issue though it's better to use non custodial for miner fee reasons.

Because there's a way to track and label the casino's hot wallet for example if you check wallet explorer (https://www.walletexplorer.com/) you'd see publicly labeled addresses between crypto casinos and other services. What more if there's a paid service that offers more links between casinos. 

I think when depositing to a gambling site, there will be no problem. But when withdrawing or receiving from gambling sites, that might trigger the bell.

As far as OP's question is concerned, he can still use Binance without worries of the account being locked due to gambling as there are no rules about it. If there's a change of terms and policy, Binance always updating their users but I doubt they will more concerned about money coming from a gambling site unless they detected an alarming transaction.

Agree what everyone else said.

Do NOT go with a custodial wallet. That would be incredibly foolish as they reserve all rights to suspend your account if they see fit - and I'm sure with thousands of dollars on the line they would be very welcoming of any opportunity to hold user funds.

Especially avoid sites like Coinbase which are a) publicly listed, so heavily scrutinised and b) have a historical record of suspending user accounts who dabble in gambling.

A non-custodial wallet will do just fine but haven't heard of Binance suspending account due to gambling activities. But if you feel insecure using exchanges then you go for a non-custodial wallet instead then save your self the stress of cross-checking your custodial wallet at regular interval due to fear of it been suspended. Take full charge of your coin and how you move them across gambling sites.

Some people are using exchanges such as binance for their deposits and withdrawals because they don't have any kind of wallet which is just okay if those exchanges are supported by your fiat currency or withdrawal and deposit. As far as I know base on my experience that wallet good for bitcoin is the Electrum wallet but if you want to use other coins you can try the Exodus and trust wallet but try to figure out the transaction fees first they have different values of fees.

Maybe to prevent something worse that might happen, he can try to use another wallet than Binance wallet so that it will not be related to any exchanges, and he can send it to Binance wallet if he wants to sell the bitcoin. Or he can use a bitcoin mixer before sending it to his Binance as that can be another solution from his concern.

Withdrawing from gambling sites will not have a problem unless he wants to withdraw a big amount. If so, it can make the alarm will sound. As long as he does not break any policy from the gambling site, he will be okay.

for bitcoin wallet only you can use bluewallet and electrum
while for multi coins you can use exodus, safepal and atomic

all the wallets that I wrote above are highly recommended to withdraw or deposit to your favorite crypto gambling site
don't use an exchange wallet because worried that your account could be locked

Yeah, they don't have such rules, for now. But why store all your money on the exchange at all? Why create yourselves a problem, and worry that any coming day they can change the rules, when there are much safer ways, such as hardware wallets? Not only from the point that it doesn't restrict depositing/withdrawal from gambling sites, but smaller risk of being hacked, tracked, etc. The safer - the better.

^ Be careful of using Electrum and directly send to your custodial wallet, because it could be detected by the custodial wallet service that the fund came from the gambling company which is most of the custodial wallets they are freezing the fund if they found out that it came from gambling. I used sometimes BTC mixers for this if I will not convert my BTC to altcoins. But it does, that is fine, from BTC to XRP or USDT will be fine, your BTC transaction that comes from a gambling site will not be traceable by the custodian wallet and exchange into fiat.

I’m using an exchange wallet without experiencing any problem here, maybe its because the amount of money is just small. Well, to be more safe I have to think for other options as well and many here suggested Electrum, I’m not sure though if it will work. How about if you’re going to withdraw and deposit thru LTC? Any good wallet to use for?

Litecoin wallet you've been seeking?

Aside from exchangers then you can make use of HW like Trezor and Ledger nano.

For Desktop wallets then make use of Exodus,Atomic,Jaxx,Litecoin core and Electrum LTC. It doesn't matter which one and find out what suits out your needs.

Gambling sites have inbuilt wallet and vault. It helps with the unwanted spending on different bets in terms of transaction fee. There is a talk that gambling sites will cheat the users which is true. But, the same won't be done by the reputed platforms. Whether it is an exchange or a gambling site, it is good to enable all the security features available, in specific 2FA. This will add more security to the Holdings.

I've been using Mycelium wallet, until now, everything is going really well. There are some wallets that deposits and withdrawals from/to casino are against to their TOS. So you might want to read them, or you will got the chance of your balance being frozen, that's inconvenient.  
I am not sure if binance are blocking accounts that are related to gambling transactions. Ask their support or try to read their terms about it.

Just stop using an exchange wallet when you withdraw but for deposits, I think that you won't experience any problem from there. Based on my experience, it's not really a good one and the exchange might surprise you with an email noticing what you did and where your source came from.

Electrum is very well one of the best wallets out there, easy to use and lite.

Just the usual multi-currency wallets will do, search what you think is good for you as a choice.

Of course gambling sites have wider vaults to pay for all betting costs including deposits and withdrawals as well as exchanges that have special wallets to accommodate more wallets everywhere, but what the OP is asking is a safe wallet for gambling transactions and they are afraid to save on the exchange it will be frozen, so in my view it is different that all transactions are the same except for large expenditures or what is called money laundering then it will be questioned but for those of us who will not achieve larger transactions then we tend to do it less but often do it.

All features must still be guarded for unwanted security, including on gambling sites and in the wallets that we hold, to be more secure so that there is nothing to be afraid of.

As you said, you don't have any problem using an exchange wallet. If your exchange wallet supports LTC then just do the same.

For non-custodial wallets, you can use Coinomi, hardware wallet Trezor, or the LTC core wallet which you can found on their official website.

https://litecoin.com/en/individuals

Those type of wallets are usually the custodial ones so it's best to avoid using them directly as a hot wallet. Mycelium on the other hand is a non custodial wallet meaning you have full control over every address you make and it doesn't matter if the funds came from casinos or other services.

The vault is only good if you're a gambling on a regular basis but not everyone is that type of gambler. In general, using gambling sites to store funds isn't the best idea as it's similar to using exchanges in terms of security there's still a risk of losing funds.

If funds came from any gambling site then there might have mentioned the sites name as several exchanges name also shown. If few sites, or few times it cant show the name of the site then there is a probable number of the wallets of a gambling site they may count.It might be something like the provided image below:
https://image.prntscr.com/image/4W5KhcO7Sv6ipqRvJy9E9A.png

From your image, we can see that some providers, whether it is gambling sites or exchanges, still allow their users to deposit or withdraw the funds. But we do not know what will happen in the future as when the government knows about that, they can force the exchanges in their jurisdictions to give the reports about their members and check the account.

If their country prohibits gambling, the government will warn the user not to play gambling or use the exchange to deposit or withdraw from the exchange to the gambling or vice versa.

Exchanges and gambling sites will report their customer information to IRS that is why most casinos and exchanges which accepts people from US has mandatory KYC policy. OP can simply use an electrum wallet but even if he uses exchange<=>Electrum<=>Casino still the exchanges will find the transaction based on tracking and will freeze the account especially the coinbase.

I personally use Exodus and Electrum LTC for all my LTC gambling.

As long as you don't go out and use hosted wallets/custodial wallets, you're okay.

There is very little difference between the individual wallets apart from the UI. Electrum LTC is probably the simplest to set up but the tradeoff is that their interface is quite basic, while Exodus supports multiple coins which could be good if you're looking at playing with ETH, LTC, and BTC which seems to be the norm these days.

Well, from this image, I will prefer to use a non-exchange wallet at first and then if going to sell the coin, it can be sent from the wallet itself.
I know that it will spend more money or fee on the transaction. But at least, it will be safer enough. Moreover, many exchanges will also probably delay or deny our deposit if it is considered from strange platforms or gambling site (moreover if the funds are quite big). there will be several steps that we should follow to recover or to return our funds.
But, if there are some reputable exchanges that don't mind about this, maybe this can be a way if we are directly going to sell the coin.

That is why the government can know what their people did with their money.
If some people use their money to gamble on the online casino, they will investigate and maybe apply tax to them or do something.
Using a private wallet can solve the problem of tracking by the government so they do not have to worry if the government will know what they do with their coins.
Using electrum can be another solution for people who want to keep their coin without any tracking from the others.

Whatever your cryptos are for, whether they are for gambling or for something else, just use the safest wallet available. Binance is not the one. In the first place, it is a centralized exchange wallet which means they are in custody of your funds and you have no control over it. They could freeze it any time. And also, you cannot control your preferred fees.

If I were you, I'd use wallets which are non-custodial and open-source. I wouldn't go as far as to recommend a hardware wallet because of the assumption that your gambling cryptos are not that huge. A hot yet safe wallet is enough.

Having the 2fa is really helpful and must as well. Also if the balance is not much and gambling site is a trustworthy then we can keep in it as user will require the crypto to play the games in coming time. Depositing and withdrawing at times could have higher fees. Also, one thing can be done is take EOD screenshot daily and check the next day if balance should not be less can be more or same.

By using Electrum you can avoid taxes even if you do then its evading not avoiding there is a hige difference between that. Using Electrum can avoid the account getting frozen but if the casinos also against the country where you are living and the prohibited users then its don't gamble at all.

Seems yes, maybe the user may set the table like this : exchange<=>Electrum<=>Mixer<=>Casino, vice versa

idk the means of private wallet, but when using electrum all can be tracking furthermore when send fund to centralization exchange (KYC).

the government can track it from an exchange. so, the user with a restricted country must be thinking first about how to. when using Electrum wallet is not necessarily untraceable, they can do that by seeing from previous transactions, I'm not scaring you but trying to make you be careful.

But if you want to withdraw your win money, you need to use the other wallets, especially if you want to convert your coin into fiat money. So far, the exchange will accept the sources of the funds from the gambling but we do not know if the exchange will allow us to withdraw in the future. Keeping your funds in the gambling site will not be a problem if that is about a trustworthy gambling site.

I would highly recommend the Exodus wallet. It's a wallet which also has an in-built exchange hence is very useful and doesn't charge very high fees for exchanges and they have desktop and mobile versions.

Any wallet that provides you the private keys is a trusted wallet and this is also the reason why centralized exchanges can never serve as good wallets. Blockchain(.)com's wallet is a good one but it does not accept too many coins.

Sometimes I use gambling sites as wallet for small amounts like if I have money in Bitsler I can send to stake and vice versa.

Better if it goes like this

exchange<=>Electrum<=>Mixer<=>Electrum<=>Casino

Because casinos also can freeze our account if it comes from mixing website due to AML policy.

That's still the same in the eyes of the law, remember that evasion of taxes is going to be bad and it's not a good time to do that when the government can seize your asset, penalize you for evasion and at the same time a jail time although with a possibility of bail. Another thing that you can do is hire a treasure man if you really want to avoid paying taxes, it's a new but risky method of turning crypto into fiat.

Not questioning your way but are you guys really serious that mixer should also be included in the process.

Just take your betting simple and easy. Use an exchange that doesn't have terms on gambling like Binance. They won't freeze your account because of gambling. If there's a change of policy they will make an announcement about it. If still worried, then take some extra steps by using Electrum. No need for any mixing service. It's too much for a step on me especially if you are just an average gambler.

Why we should do such complicated process just for gambling?
Above complicated process may cost some money and wont really worth for small amount of money.
Simply choose any exchanges that does not against gambling, this way we do not need to spend more money for several transactions.

The best wallet would depend on the type of coins you use. I use trustwallet and it almost covers all the bases, it provides multiple coins support and has a good security system and on top of everything, it's easy to access on the mobile and scan to send coins quickly.

I don't like the fact that OP is using Binance as a wallet for gambling because of 3 reasons

1- High fees on withdrawal that Binance charges
2- It takes some 5-10 mins usually to get your coins which isn't ideal always
3- It's evident from the past, using an exchange as wallet is risky

Accessibility and ease-of-process, digital wallets, especially exchange wallets like Binance works best because you can easily route them to your gambling account and basically start from there. Although these options aren't as safe as personal wallets and physical wallets that are more focused on security of your coins above anything else. Personally what I do is I have a personal wallet where I collectively save all of my cryptocurrencies and I just fund my Binance wallet whenever necessary. This allows me to ensure that worse comes to worst, I wouldn't lose all of my hard-earned assets at once. Coinbase and trustwallet top my list for their vast array of coins that are listed, although I am a bit wary with these wallet exchanges since these are the ones that gets hacked the most, apart from Binance. Then again the benefits outweigh the detriments for me which so rarely happen anyway that I can just shrug it off. Although of course as stated above I have a personal wallet where I store most of my assets.

I guess we are talking about someone who is from a place where gambling is restricted or am I wrong?

You no need to do all such process when you are ready to give your tracking records and paid taxes even for your gambling rewards.