I am always skeptical why billionaires are always losing huge amount of money in days while people are suffering. Last time I read in a new that Elon Musk loses upto 4 billions in just few hours and the other time he made close or more than that in days. Money that would be very hard for an employee or middle class business owners to make in a year.
If we take a look on the news we will see that billionaires loses upto 2 trillions dollar last year and this January we had been hearing about several loses from some of the world billionaires.
Last year I heard that Jeff Bezos loses up to 80 billion dollars and Mark Zuckerberg also loses close to that amount which is enough to allivate poverty from a continent. The cause of their lose is best known to them but I think the funds should have been used to help the poor rather than allowing the money to vanish in a thin air.
I have seen so many programs fro the masses especially to aid those that are in need. Some of these aid organisations do seek for donations from individuals, companies that are ready to help with funds. When we have billionaires losing huge amount of money every year, why not they use those money to help the poor rather than losing them
In many ways this wealth is an illusion, the total value of some of these companies is what all the individuals in the market think a single share is worth multiplied by the quantity that have been issued. However that value is constantly changing and if faith is lost in a company for whatever reason, it can disappear like the illusion it was. Elon's arrogance, self interest and now highly political viewpoints being spammed on places like Twitter have done huge damage to his net worth because his ego needs feeding. He (and many other shareholders) lost their money because they did not sell out during the peak time in their company valuation, but even if they started to sell it would have indicated to others to sell as well and push the price down in a vicious spiral. |
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Do you think it makes sense if a crypto gambling platform only accepts it's own token for gambling and gambling on it's platform? If the games they offer are one-of-a-kind, new, and addictive wouldn't this make the gambling token very valuable? I am asking on behalf of a friend who wants to build his own crypto gambling project on the blockchain. Will this work? Will this fail? What's your take on this?
No it doesn't work. Casinos want to minimize and reduce all the barriers to entry when it comes to new customers, they don't want to make it more difficult for people to hand over money by forcing them to use a certain deposit method. People look for the most convenient places to play, it doesn't matter how supposedly addictive and original the content is - if you make it so hard to play then you'll never get people hooked. It's a bit of a waste of time to be honest, why re-invent a cryptocurrency (when there are already thousands) when you get just focus on the content. Your friend has big dreams but is unlikely to succeed because they are trying to do too much and frankly, they're unlikely to come up with many unique games like you describe. |
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Recently I have had numerous reunions with Uncles from my extended family. Some of them are successful businessmen for decades. They built their business from nothing and are living quite a comfortable life now. We had long conversations about life in general, including their key to success. I knew very well that they have been hard workers ever since I had a memory so I would contribute their success to endless efforts. However, one thing they had mentioned in common was luck. They believe pure luck made them meet and grasp those opportunities and become successful rather than their smartness and efforts. I've thought about this before and couldn't agree with this more. They've set very good examples to me, including my father, and now I tend to focus more on work itself consistently and let luck or fate takes the rest.
I think you might have misinterpreted what they meant or they did not realize themselves how luck contributed to success. Successful business people can often overlook the one trait that matters here: perseverance. Many businesses came about after the owner adapted and tried many different combinations, failing many times along the way but finally figuring out a "magic" formula that worked for them. People assume it is luck, but in actual fact they had the ability to change when they saw something was not working and let go of it. Luck can sometimes play a pivotal role, like being in the right place to land a very favorable contract, but often repeat business is what makes them true winners over the long term. |
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I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.
Isn't it? Inspired by Jean Scott - Frugal Gambler The thing is, if you're attracted to playing slot machine type games - you've already lost. The percentage that they let you win is almost irrelevant because people get so "in the zone" that they have a tendency to keep playing until everything is lost. It is basically a game for losers and nobody with any sense should really be playing them. It's fine if you want to drop a dollar or two on ten cent spins, but any more than that and it's an exercise in futility. Keep in mind that a casino will intentionally program their games to show you a few wins in the first 10 or 20 spins, but then their normal algorithm will kick in to take it all back from you. There are much better ways to make money. |
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It can actually be a good idea for neighboring countries to come together under a common currency because it does bring down so many barriers to trade and generally you will make a lot of trade with those around you. You can share things like tourism much easier and in a wider sense you are likely to bring down other barriers like border controls which slow down business plus leisure. However it works best when the economies are similar, but you will inevitably have certain countries in the group that are weak and some who are strong. The weak ones gain some credibility while the strong ones have the power of their currency weakened slightly, which is good when they're trying to export. However it takes a lot of preparation and unless it's managed well it can go badly wrong. |
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A brazilian medicine college student diverted almost 200.000$ from the graduation comission's funds, which belonged to her whole class, to place high bets through the national lottery.
She won sometimes on short run, but after all, faced a huge loss and went into almost 40.000$ debt. After scamming the lottery, the police department was triggered and the investigation has started.
She was investigated for money laundering and embezzlement. Later on, it was discovered the funds' origin.
Meanwhile, the class students became suspicious about the situation after the woman told on her class Whatsapp's group funds raised for graduation were lost after she invested it in a brokerage firm and was scammed by it, but no further documents and evidences could be provided, because everything was robbed!
Since then, no more updates about the case have been shared on the news. It happened about 2 weeks ago.
As others have said, the fact that she won was pretty much irrelevant because she did not win enough to cover the initial amount she stole. I'm guessing she spent vast chunks of the money she stole on these lotteries so was definitely not getting value for money. It's a very sad story when the person involved is relatively young and probably did not understand the consequences of what they were doing, however they should face the criminal consequences or there is no point in having laws. You have to wonder if she was just being extra greedy or had other financial pressures when she wanted to stay in the medical field which must have sky high costs to fund higher education. |
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Have you ever wondering about why human beings are profitable or what makes them succeed?
*How are things unique for humans who succeed?
*How they acquired to the position they are now?
*Why am I no longer being successful?
Infact it’s very on hand and relishable to accede with about that Achieving is an imprecation to few people. However, this is now now no longer in integration from the authenticity.
THINGS THAT TRIUMPHANT PEOPLE DO
set objectives: bare in cerebrating that all Triumphant humans set dreams with date which they can entire the task.
Start immediately: you have to commence right now if you pick out to be remuneratively lucrative Like the Ten million worthwhile guys and female out there due to the veracity worthwhile human beings do not procrastinate when they optically discern chances .
Be positive : Triumphant human beings are idealist and cerebrate about their cups to be always 1/2 plenary. They exhaustively seem at the magnificent component of their goals and they have self credence their Facilities in Achieving their goals.
Action takers: successful human beings act even if they have partial records and so many human beings wait until they get a a hundred percent Assurance, Answers, conviction and if you do so you may additionally preserve yare sempiternally due to the truth you will by no means be one hundred percent yare.
Magnetize it: successful human beings makes utilization of the law of Magnetization to be remarkable which overall performance you prefer to have a very pellucid and smooth Vision of your requisite.
While the majority of "rich" people do possess a lot of these traits which helps them amplify a great underlying business idea and many will really maximize an opportunity if they see it rolling out before them, you must not forget a fair chunk actually get just exceptionally lucky or maybe even inherit it from people. Those who get lucky were simply in the right place at the right time and potentially jumped on to a good idea with a source of funds that they may have been blessed with - like Elon Musk funding Paypal in the early days with money from his father. Others who inherit money are very likely to lose it because they can get arrogant or wasteful without understanding how hard it is to actually earn. |
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Fraud is intentional deception to secure unfair or unlawful gain. Fraud and fraudulent activities can be found in every spheres of life. In the online casinos and betting there are common frauds that are perpetrated by criminals in the guise of gambling. They include: - 1. Bonus Abuse
Bonus abuse is the practice of joining up for a service repeatedly using promotional offers that are typically only available to new members. There are various terms are used to describe it, such as bonus abuse, casino whoring, bonus hunting, and promo abuse. This practice, known as multi-accounting in the fraud world, frequently targets no-deposit bonuses like free spins or free money. It mostly affects poker, casino, and sports betting websites, but any business that leverages signup bonuses as a marketing strategy may be at risk.
The problem is that fraudsters attempt to create as many new accounts as possible, relying on stolen IDs, resulting in synthetic identity fraud and prepaid credit card details to bypass the Know Your Customer (KYC) checks. More sophisticated criminals can also have the resources to use emulators, virtual machines, and even residential-like IPs, such as Socks5 proxies or mobile networks to leverage fresh IP addresses. - 2. Collusion
The use of numerous accounts by one person or a group of individuals who work together to influence a particular outcome is known as collusion. The most popular target of collusion schemes is online poker. Players occasionally open new accounts to restart from scratch. A poker tournament's big pot may potentially be won through collusion. However, it can also happen in other card games such as Blackjack. Sometimes, players collude to commit bonus fraud.
Players might even engage in self-collusion by creating many accounts and then use one account to win over another. For example, two players register and make a $500 deposit to receive a $50 signup bonus. They can lose to each other until they reach the rollover requirements. Upon meeting the conditions, both players can cash out, and each walks away $50 richer. - 3. Chip Dumping
Chip dumping is the act of purposefully losing chips to another player at the table. It's something that thieves have been known to use in an effort to launder money they have acquired illegally. They believe that if they lose all of their money to a different poker account that they already own, that the original source of the funds might be lost. They hire individuals to gamble online and lose to a single person. Once that person cashes out, the money will appear as legally earned. It is a form of collusion - 4. Impersonation
Impersonation is when a player acts on behalf of somebody in a nonconsensual manner. They do that using stolen accounts. Moreover, fraudsters would look for proxy servers using SOCKS5 VPN and RDPs. There, they can conduct impersonation and other fraudulent activities. Impersonation can also happen with consent, like in an affiliation scheme. An experienced player uses an account to play on behalf of a newbie. They will enjoy their perks and fraud online gambling sites for profit percentages. - 5. Credit Card Fraud
At gambling websites, it is very typical to see thieves using stolen credit cards. If they can get the card to work, they can quickly and easily cash out. Cybercriminals can use a stolen credit card to top up an online casino account. From there, they can withdraw in cryptocurrency. - 6. Chargeback Fraud
Also known as friendly fraud, this is when a legitimate customer files a chargeback under false pretenses to get their money back. It happens rather frequently in online gambling, when a person who just lost a lot of money might phone their bank, say that their card was used without their knowledge, and then get their gabling losses refunded. Gambling establishments may counter the onslaughts. However, if they receive too many chargebacks, it could result in damaging their relationship with card providers. Being unable to support payments from a major card issuer can basically cost them their business. More often than not, just swallowing the loss is more practical than fighting it.
Note that - Collusion, bonus abuse and chip dumping are subcategories of Multiple account fraud. That's all for now. Thank you for reading. What other common or uncommon type of online gambling fraud have you noticed? It feels like you've covered most of the frauds taking place, maybe one to add is something that has cropped up recently a few times on these very forums. Where a user will blatantly abuse promotions in one form or another, and then when they have been caught out move on to a game of trying to smear the casino's reputation in order to get hush money. So not only are they caught cheating, but they continue to act innocent and it can be hard to distinguish between an honest player or an abuser unless they trap themselves in lies. Collusion is definitely one to watch out for in places like online and offline poker because it can enhance the possibility you are beaten every hand. |
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This is an emotional touching story of a friend who is having some hard and difficult situation feeding for himself. After longtime of searching for paid job with no success he saw a job that will pay him in commission. This means you will have to depend for money with your success in the work daily, weekly or month depend on the agreement. This friend that got a job is now having more hard times to go out looking for customers to buy the product of the company that he is working for because it is a marketing company. He is depending on me for some support like to go to work, sorting him for transporting himself and sometimes feeding and I help to do this for him (a friend that is down today can be up tomorrow and may help you also in future, they say future is pregnant. Help a friend in need). I do this with him sometimes with happiness and good face. I encourage him that soon he is going to make big sales with big profit to cover all the time he is not having profit.
What do you think of it ?
It really depends on the sort of salary you're talking about in comparison to a commission job and it can also depend on the sort of personality you have. People who are more introverted may not feel comfortable speaking to new people all the time and engineering a conversation in the sales type manner that would see them do well financially. There is a certain kind of sales person who we've all seen projected in certain TV shows or movies, that are willing say anything and bend the truth in order to get a sale. They might be financially successful in terms of how the company rewards them, but it borders on fraudulent or aggressive selling tactics. If you can get a salaried job perhaps with some sort of bonus structure built in that might be most successful. |
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Honestly, I'd say he took quite the gamble. Maybe the gambler of the year for 2022! This man bet his marriage on making it all the way to the super bowl. He also bet the majority of his wealth on the FTX scam. Unfortunately Mr. Brady has lost it all! You have got to feel bad for the guy. I am a huge Brady fan, and can sympathize with his losses. Surely many people that don't like him for whatever reason may be happy with his current predicament, which is honestly pretty sad if that is the case. We are all human here, and dealing with tremendous loss is difficult. Especially when you're in the lime light. I recently heard on a radio talk show a clip from a reporter asking Tom Brady just the other day what he was going to do now? Tom replied, " You know *name of the reporter* if I knew what I was going to do I would have already F$%king done it!" Poor Tom. I would bet that Brady stays at it, he is not going to end his career like this, having one of the most brutal years personally 1000% affected his game, I would bet that he gets picked up by another team soon, hopefully New England! Any thoughts on this?
While nobody should take any sort of happiness out of others misery, he absolutely brought this on himself and it was done out of greed. If he had approached a proper financial advisor and took their advice, he would be sitting on a diversified income stream from the huge salaries and endorsements that he has earned over time. Instead, based only on the way you described it, he took a punt on one major investment which has turned bad. The only reason people do these things is that they were sold the idea that it would double, triple or otherwise multiply his money in a short period of time. Wise money invests in the long game and expects small but steady returns over time. Either way, he has enough history to work a smaller fortune back up because he has a massive fan base who will sustain him. |
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In the next five years, it is likely that AI will begin to reduce employment for college-educated workers. As the technology continues to advance, it will be able to perform tasks that were previously thought to require a high level of education and skill. This could lead to a displacement of workers in certain industries, as companies look to cut costs by automating processes. While it is difficult to predict the exact extent of this trend, it is clear that AI will have a significant impact on the job market for college-educated workers. It will be important for individuals to stay up to date on the latest developments in AI and to consider how their skills and expertise can be leveraged in a world where machines are increasingly able to perform many tasks. I'm personally skeptical on the ability of machine learning/neural networks to fully replace humans. I think it's more likely that it will boost productivity by performing the more simple and routine tasks, but there will still be the need for human touch. People will lose jobs because now a professional will be able to do the work of 2 professionals, but AI won't do the work of all professionals. It's definitely fascinating to see what this form of AI is able to do, but I also am skeptical about the ability for it to replace many jobs. At the very least there will be people needed to validate the output and potentially formulate what actual information/scripting/data extraction is needed to achieve the end job most effectively. At the end of the day it is often just plagiarizing information and combining many different sources to achieve it's end goal. For more up to date information it also needs feeding and much of the important data going in (e.g. news and developments) is being created by people. There will definitely be a few jobs lost to this sort of automation right now but it's hard to judge who will be most affected. |
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You know how casinos have set certain slots to only pay a certain amount to a winner, it it also possible that casinos are using an algorithm to limit how much it can payout for players coming from certain locations to avoid being dragged into legal disputes if a player is paid big money and the local authorities want to know the source and the alike?
This is not going to be a factor in any normal casino operation. In that scenario the entire blame and required explanation would rest on the shoulders of the player, the casino would not have liability in that scenario. Casinos often ban entire countries if the rules of the country stipulate that gambling is illegal and KYC sort of verification enforces it to indirectly protect the players. I don't know of any countries that have a threshold that says, if you win over this monetary amount we will take certain legal actions against you - they're either all against gambling or not. A person breaking the law and evading registration restrictions would be the only person to blame in this scenario. You also slightly misrepresent the power that prosecutors have because that sort of overreach and dictating what companies do elsewhere is not the norm. |
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If you're young and haven't inherited a property from your ancestors, chances are that you're forced to rent. Personally, I've been renting for over 6 years and have been living with my girlfriend for the last 4, sharing rent and utilities. Overall, we've both spent over €25,000 together, and after spending all this money, you're practically left with nothing and may be subject to looking for a new house at any moment.
The average rent for a one-bedroom apartment is between €300 and €400 at best; thus, I was thinking that taking a loan is as costly as paying rent per month, but after 15-20 years, you end up with a house. My main concerns are the following: First, if you're in a long-term relationship like myself, you can never be 100% sure that you'll be with that person in 20 or 30 years from now, which might prevent you from opting for a loan. Secondly, you need to be certain that the location or city of the property to be bought is convenient for future job offers and so on. Thirdly, because a loan is a many-year commitment, there's no guarantee that you'll be able to afford the monthly payment 15 years from now.
On top of that, finding the ideal house as a renter is almost impossible; there's a lack of housing, and rents are extremely expensive and unreasonable at the same time. We had a difficult time finding a house recently, and it's far from ideal. There is now a new government-funded loan program that is about to start, funding up to 75% of the loan interest-free while the rest is funded by private banks and is subject to a relatively low interest rate. This led me to think about taking a loan and purchasing an average two-bedroom apartment, but I have the concerns that I voiced earlier.
You've given a picture of one scenario, but there are so many different variations it is impossible to give a definitive answer to such a question. You mention the level of rent, but you don't mention the salary you're on. There is a suggestion that housing costs should be around a 3rd of your income maximum, but if you're making 3,000 euros a month (a random example) then you'd be way ahead on such a low rent. You could put that money into other investments, to make your money grow, or simply save for a deposit to eventually buy your own house. Renting is not always a waste, it can give you a freedom to move around which can be especially useful when you're younger and allow flexibility in following jobs. |
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There is this thing about shopping and airlines that when you check and forget, they send you bonus or discount for your possible shopping/trip. Same holds true for casinos, if you just register and leave they will send you some bonus to get you started playing.
Not only that, but in certain countries you'll find that many casinos will offer you daily free games which can actually stack up to a sizable amount of money if you just take a short amount of time out of your day to sweep through them. Consistency is often the only key you need, as I've made a few hundred over the last couple years by doing this on a regular basis. After a while a casino/sportbook might get sick of your free loading and decide to ban you from these type of games, but I've been lucky with a few other sites that have allowed it for a long time. Combine that with the maybe once a week super competitive sports offer and it's definitely easy money if you use your brain. |
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Saudi Finance Minister Mohammed Al-Jadaan said on Tuesday that the kingdom is open to trading in currencies aside from the US dollar in order to “improve trade.”
“There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Jadaan told Bloomberg at the World Economic Forum in Davos, Switzerland.
Why it matters: Jadaan’s comments are the latest indication some Middle Eastern states are moving away from the US dollar — albeit slightly. Last year, The Wall Street Journal reported that Saudi Arabia was considering pricing oil sales to China in the yuan.
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I believe that there will be no change in the issue of petrodollars without the occurrence of a world war, and from there we must ask what Saudi Arabia wants to make such a statement. I see that there is an attempt to pressure Saudi Arabia against the United States. We also remember: Relations have been strained after the killing of journalist Jamal Khashoggi and many things that make the relationship between the two countries need a negotiation session. Saudi Arabia is not blind to the power that China is slowly accruing around the world and it's almost always a good financial opportunity to diversify your income. America gets to wield a lot of economic and political leverage by being the dominant reserve currency of the world, but the Saudi Arabian leadership are trying to reduce the potential for outside pressure. They currently have a fairly good position because they are often backed as the counter to Iran in the region, however the Saudi government sometimes does some extremely reprehensible things like the killing of the journalist in the Turkish embassy. America will no doubt keep this in mind with who they choose to support in future but everyone is playing their own geopolitical game. |
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https://nypost.com/2023/01/15/gambler-loses-massive-1-4-million-bet-on-chargers-jaguars-game/One bettor wasted a massive $1.4 million wager after betting on Los Angeles before the Jaguars mounted an epic comeback to beat the Chargers 31-30, according to Action Network’s Darren Rovell. It seems that a gambler has loss this massive amount (1.4 million USD) playing a bet with an odds lower than 1.01! (exactly 1.008) I think there are several lessons here: - there is not easy bet! even lower odds there is always a risk. - it's really risky playing an huge amount. This not helps gambler because the risk is much much higher then rewards! - gambling is not easy at all! it's really hard achieve a profit even for easy games! what your opinion about this gambling issue? did you had experience similar experience? how a good gambler should avoid such mistakes? There are few times that you might actually cheer the casino and these situations might be one of them. Somebody had $1,400,000 in their bank account and decided to risk it for the chance of winning around $11,000. Most people could live their entire lives off $1.4 million without ever even touching the principal, if they invested it wisely in something simple like an index fund. If you lived away from a major city there are plenty of towns where you can rent cheaply, or I guess take a little chunk out to buy your house. However someone presumably had such massive wads of cash laying around that they gave up this huge sum for almost nothing - really tough to have any sympathy for them, at the very least I hope it steers them clear of gambling in to the future. |
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The following actions are basic steps in budgeting:
- Track your expenses and income for one month
- Create the categories that fit your life
- Set some short-term and long-term financial goals
- Cut certain areas to make those financial goals possible
- Adjust your budget according overtime.
Even if I take all of these steps, "unexpected expenses" still throw off my budget for me. I will keep track of all my spending and costs, create a budget, and begin adhering to it, but before you know it, a huge unforeseen expense will ruin everything, leaving me discouraged and not budgeting for a while. This usually occurs when I spend excessively in one category or another and realize that the budget isn't working, at which point I give up.
Suggest ways to deal with unexpected expenses?
If you're not running an emergency fund alongside your budgeting (which is a great skill that many people do not use properly) then you are probably not doing it correctly. It's recommended to have at least 3-6 months worth of salary stored in an easily accessible location, although this is often impractical it is getting easier with interest rates going up. This can be used to buy important things like unexpected house repairs and should be replenished via your budgeting as soon as possible. Once it is "full" then you can start pushing money to other savings or investments. It can give a great peace of mind but generally the younger you are the less likely you are to need so many months worth of cash doing little. |
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I have a discussion with a close relative about online gambling and he said something that about how he hate gambling online because it's too addictive, he claimed real life casinos are better and less addictive because he will have to drive down to Las Vegas to gamble or drive down to a local casino and this still takes some physical effort and it discourages many people from frequenting gambling.
He said with online gambling it's available on through mobile phones and you can play at any time, this means no shortage of gambling around the clock and no shortage of losing money as well, you can easily pull out your phone and gamble with any free time, a bit compulsive and too accessible.
What do you think about this claim? Is he right or wrong?
It's definitely a good point to be made, even more so in relation to crypto casinos that can be funded without having direct access to something like a debit card which often are only given to people who at the very least are over 16 - potentially allowing minors to engage in gambling if no other KYC checks are performed. It is also a lot like a wild west where there is no unified self exclusion program that is joined across all online casinos and would allow someone to really get a grip on their spending if their self control was limited. Such a self exclusion program is also unlikely to ever materialize because firstly, there are too many countries in the world to enforce such a law and secondly, any casino in a jurisdiction that did not enforce it would instantly get an advantage of drawing in all players who have self excluded but lost control. |
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We know the US dollar is the world-accepted banknote and can be used as a medium of trade. In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the world’s currency market like the US dollar in destiny?
While many people see Bitcoin as the lead, in actual fact it seems to be the follower to what is happening in the main economies of the world. You could see this for yourself if you were paying attention to the interest rates, it was no coincidence that when cheap borrowing started to get more expensive, that the most risky assets were the first ones to drop. All that cheap money was creating a bubble of speculation which drove Bitcoin up to the high price it hit. Even before the latest disasters like the Russian invasion of Ukraine, you could tell that companies were starting to wobble with profits and consumers were starting to rein in their spending as the years of excess give way to the years of bust. Bitcoin rid the wave, some people made lots and others got burned. |
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One fairly common complain among gamblers is they are allowed to make a deposit at casinos and lose their money without any issue, but if they happen to win and they want to make a withdrawal then they are hit with a KYC request almost immediately, Tonybet a fiat Estonian casino was fined more than 400,000 pounds for this practice and it seems the regulators are now interested in making reforms to the laws and force casinos to also make checks on those gamblers which have lost a lot of money. If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances? Source: https://www.theguardian.com/society/2023/jan/18/tonybet-fined-regulator-online-betting-id-checks-termsWhat's perhaps a bit weirder is the fact that it's an Estonian online casino getting fined by the UK. I wonder if there is a comparative case being brought in Europe or Estonia - if not against this casino then any others. It does seem like a pretty underhanded way for these companies to perhaps claw back some of the money from winning customers, while also limiting barriers to depositing for losers. If a customer has lost a lot of money and a KYC request comes up, it might just be enough of an obstacle to stop them from ever adding more money to the site, so it is definitely a valid complaint. Let's hope the fine is put to good use in pursuing even more casinos who use such abusive practices. |
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