Check if your exchange is fractional reserve day ?

[okala]

What if one day of the year, we got everyone to withdraw from the exchanges to see what exchanges are legit? and casinos.
I bet 80-90% of them would not have the btc to cover everyone.

Yeah,that would be really nice,but it's impossible to happen in the real world.
If it really happens,90% of the crypto casinos and exchange platforms will just block all withdrawals.
You know the saying "not your keys,not your coins".

They have all it take and they control everything as you rightly said not your wallet and not your coin the hold all it takes to take over you are at they Mercy. Most of the exchange and the gambling platform are just trusted for they reputation and that can also turn either way if the situations change we have seen exchange blocking a user account with founds in it and nothing happen even casino sites too do this.

[uray]

What if one day of the year, we got everyone to withdraw from the exchanges to see what exchanges are legit? and casinos.
I bet 80-90% of them would not have the btc to cover everyone.

I am not sure how accurate this statement is, if that is the case you could file a legal actions against the exchange and with regulations coming up around the world we might see some major change in these situation as they will understand the gravity of what they are doing, i bet all of the top exchanges will have the funds in reserve, since it is not a regulated market, the market will lower volumes might end up being a scam exchange if a situation like that arises.

[leonair]

As if those casinos and exchanges are just storing their funds in your browsers to their hot wallets, these legitimate operators of casinos and exchanges have their own settled rules to be followed by storing their Bitcoin from one single client to their safest and chosen secured wallets and with this it'll take time to cater a large withdrawal. Even legitimate banks does have withdrawing limit in a period of time though and so as with crypto exchanges and casinos, I'm not against it as it's for the safety measures to lessen the misconception of bad doings with cryptos.