What are your thoughts on this, and how deep is your understanding of web3 casinos in terms of their legal parlance?
Web3 casinos are not something new to the crypto world, it’s been more than a year now, we have seen many updates in gambling industry lately and it is getting insane with a lot of competition to build better casinos. Honestly and with my own thoughts, I can’t trust a web3 casino to make a deposit there and start playing, knowing your money is with very high risk if that casino disappeared one day while your account is filled.
Web3 term itself means there is no centralized thing in that casino which means you will never be asked for KYC or any documents, and probably the identity of the team behind that casino also are hidden, beside that not many providers would agree to license your casino and provide their slots to web3 casinos.
We need more time to build that trust on such casinos, to have a fan base of this type of casinos we need to trust first the team behind it with proofs and much caution to not get hacked with infected smart contracts while accepting the transactions.