Where Will It Go If The Money Comes From Illegal Source

[Odusko]

I think the government will definitely take the money away from the casino because the casino is regulated by law which is the reason for the rule in the first place, ordinary casino will not give a dem about where the money is coming from, so for sure because of licensing demands that is why there is such rule in the first place, so when the account is blocked because of illegal source of funds, the account and money get reported to the government to take it up from there.

[teamsherry]

Normally such money should go to the government but I've never heard of such happening before when a casino returns money back to the government and j think that should be the right thing to do, but I don't think there are acting based on or working with government agents but rather anyone who defaults the law they trace I and lawfully retain the money but they don't submit it to the government.

[Wakate]

Normally such money should go to the government but I've never heard of such happening before when a casino returns money back to the government and j think that should be the right thing to do, but I don't think there are acting based on or working with government agents but rather anyone who defaults the law they trace I and lawfully retain the money but they don't submit it to the government.

Since we have both good and bad casino, we should not be surprised that many of the funds that are seized from gamblers as a result of so many reasons are been achieved by the casino and many of these funds do not go to the government. The funds are not being accountable to the government and that is what has been happening for a long time now. I know some casino that have seized gamblers funds that are more a million dollars and the government are not aware or given the funds. We just have to keep using reputable casinos that would always help us to retrieve our funds anytime we have issues.

[South Park]

Normally such money should go to the government but I've never heard of such happening before when a casino returns money back to the government and j think that should be the right thing to do, but I don't think there are acting based on or working with government agents but rather anyone who defaults the law they trace I and lawfully retain the money but they don't submit it to the government.

Since we have both good and bad casino, we should not be surprised that many of the funds that are seized from gamblers as a result of so many reasons are been achieved by the casino and many of these funds do not go to the government. The funds are not being accountable to the government and that is what has been happening for a long time now. I know some casino that have seized gamblers funds that are more a million dollars and the government are not aware or given the funds. We just have to keep using reputable casinos that would always help us to retrieve our funds anytime we have issues.

Without a doubt the casinos that have a good reputation are not going to risk it just to gain a few dollars here and there, and as such they have the biggest incentive to send that money to the authorities and then they can decide what it is to be done with the money, but there are many casinos out there which may consider keeping that money for themselves, after all it is not as if casinos owners have any obligation towards their clients to be completely open to them when it comes to their finances, so they may take advantage of this loophole to keep those funds.

[coolcoinz]

Normally such money should go to the government but I've never heard of such happening before when a casino returns money back to the government and j think that should be the right thing to do, but I don't think there are acting based on or working with government agents but rather anyone who defaults the law they trace I and lawfully retain the money but they don't submit it to the government.

Which government? I'll give you a typical situation that happens all the time.

The casino owner is from counytry A.
The casino is registered in country B and it gets its license from there.
The player is from country C.
The person whose money was stolen is from country D.
Often the person who lost the money lost it on an exchange or platform registered in country E and that's where the theft occured.

Who should get the money?

[KTChampions]

This is a gray area where there are no exact answers and there will be different answers from country to country (jurisdiction to jurisdiction) and from casino to casino.
With fiat everything is quite transparent - in non-cash form it is inseparable from the financial system and if you deposited dirty money into a casino, they cannot appropriate it or launder it. Cryptocurrency is another matter - it is not part of the fiat system and exists on its own, so the casino may try to appropriate these funds under the pretext of “holding” them for law enforcement agencies. But in fairness, it is worth recognizing that in the case of dirty fiat, the casino may send it back or not accept it at all, but with cryptocurrency there is no such option + it is far from a fact that the sender retains access to the sending address, so the returning transaction may simply destroy (block forever) the funds .

[Quidat]

Normally such money should go to the government but I've never heard of such happening before when a casino returns money back to the government and j think that should be the right thing to do, but I don't think there are acting based on or working with government agents but rather anyone who defaults the law they trace I and lawfully retain the money but they don't submit it to the government.

Since we have both good and bad casino, we should not be surprised that many of the funds that are seized from gamblers as a result of so many reasons are been achieved by the casino and many of these funds do not go to the government. The funds are not being accountable to the government and that is what has been happening for a long time now. I know some casino that have seized gamblers funds that are more a million dollars and the government are not aware or given the funds. We just have to keep using reputable casinos that would always help us to retrieve our funds anytime we have issues.

Without a doubt the casinos that have a good reputation are not going to risk it just to gain a few dollars here and there, and as such they have the biggest incentive to send that money to the authorities and then they can decide what it is to be done with the money, but there are many casinos out there which may consider keeping that money for themselves, after all it is not as if casinos owners have any obligation towards their clients to be completely open to them when it comes to their finances, so they may take advantage of this loophole to keep those funds.

It would really be that situational because if those funds wont really be find out or be known that it did came from illegal source then for sure they would really be keeping it,
but if its possible that it could be traced up by the governing bodies or authorities then there's no doubt that they would really be surrendering those funds rather than on making their
business to be at risks on which it would really be just that a normal approach that you would really be needing up to consider because gambling business is really that something good for long
term and it wont really be that worth if they would be keeping those illegal funds because they do know the risks once they do get caught then its over for their business or would
be that penalized.