Regulating bodies

[otandelapaz]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

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[Bitinity]

First of all you need to move this topic to gambling discussion board (reported it already though)
Related to your question:
Which sites plays fair? Those sites with provably fair system where people are able to verify their bets.
Which sites pays fair? All sites that has no significant withdrawal issues.
But I have no ideas about site that regulates gambling sites like what you ask.

[Tipstar]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

There are no such thing as regulating bodies that can forcefully implement anything.
There are individual reviewers and comparisons but they too shouldn't be fully trusted as they might be doing paid promotions.
Some good individuals of this forum has created several thread to compare different types of gambling site, it would be a much better and neutral view than found on any other websites.

[nauane]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

I do not think that there is any centralized body which can control the overall gambling industry.  Also i do not think we need anything which should control gambling and store our identities. Many people want to play anonymous gambling and will not like themselves to be revealed.

[Haunebu]

There is no central authority here due to the anonymous nature of crypto itself and no one would prefer such a regulated entity, but there is an organization which promotes various popular casinos which have proven to be reliable over time.

Organization : https://cryptogambling.org/

Move this topic to Gambling Discussion asap op.

[traderethereum]

You should search on the recommended gambling site from here or from the other site.
You will found so many trust gambling website from here, and it will make you confuse to decide to play on where site.
I think every gambling website is fair because they are very concerned with their member and they don't want to cheat their member. Once they cheat the members, then it's time to lose the members.
I don't think if there is any regulating company about what you said because so far, every gambling site have their own rules and I think the rule is almost the same between them.

[adzino]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

Well, trust is the main thing in crypto currency based casinos. Most of the casinos are unregulated. As far as I know, licensing of casinos can be done and that casino should follow the rules under the license. But remember, having a licence does not mean that the casino is totally legit.
If the site is well know and reputed, then there is a high chance they are totally legit and will try their best to respect customer privacy.

[seoincorporation]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

Well, curacao-egaming.com are the ones who give the licenses from Costa Rica, they verify the engine and the site isn't rigged before giving the license. Those licenses are cheap at all but they are a good signal on the site, if you see that license on a casino then for sure you can trust them.

[stomachgrowls]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

Well, curacao-egaming.com are the ones who give the licenses from Costa Rica, they verify the engine and the site isn't rigged before giving the license. Those licenses are cheap at all but they are a good signal on the site, if you see that license on a casino then for sure you can trust them.

Not all gambling sites do have that kind of license but they do still able to get big market share when it comes to gambling industry.It would always

matter with trust and building up reputation overtime.It isnt really that necessary for it to be verified yet number of players trusting a gambling site would
already be a valid factor you can consider that you are playing on a good one.

[RHavar]

Well, curacao-egaming.com are the ones who give the licenses from Costa Rica, they verify the engine and the site isn't rigged before giving the license.

That's not the case. Like the name suggests the licenses (Actually sub-licenses) are from Curacao, not Costa Rica. (Costa Rica is a popular place to incorporate a casino though, because it effectively has no gambling laws for foreign bets).

And they do not verify the engine (and if they did, it could silently changed, or they verify a different version).


As someone who's previously been granted a gaming license, I can tell you they're pretty much totally useless for a player. I think the only thing they're good for is showing that the company isn't a "fly-by-night" operation as they invested a few thousand in legal and licensing costs.

And if you're cheated by them, it gives you a potential avenue for recourse but it'd be a a pretty up-hill battle. And if they're malicious, they could've even gone through the whole licensing process with totally fake information and be anonymous.


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So my strong advice for players would be to use a system they can verify themselves (i.e. provably fair) and a long history of being good standing with the community (as that's something worth millions of dollars, no well-run company would want to risk that).  I'd also check out: https://cryptogambling.org/   while I don't know every name in the list, the ones I do know are pretty solid options.

[okala]

Just like cryptocurrency industry the gambling industry is not regulated by law and at that their are at freedom to choose which ever rate they choose and either probably fair ground for players and investors. Only they reputation speaks.

[FIFA worldcup]

Well, curacao-egaming.com are the ones who give the licenses from Costa Rica, they verify the engine and the site isn't rigged before giving the license.

That's not the case. Like the name suggests the licenses (Actually sub-licenses) are from Curacao, not Costa Rica. (Costa Rica is a popular place to incorporate a casino though, because it effectively has no gambling laws for foreign bets).

And they do not verify the engine (and if they did, it could silently changed, or they verify a different version).


As someone who's previously been granted a gaming license, I can tell you they're pretty much totally useless for a player. I think the only thing they're good for is showing that the company isn't a "fly-by-night" operation as they invested a few thousand in legal and licensing costs.

And if you're cheated by them, it gives you a potential avenue for recourse but it'd be a a pretty up-hill battle. And if they're malicious, they could've even gone through the whole licensing process with totally fake information and be anonymous.


--

So my strong advice for players would be to use a system they can verify themselves (i.e. provably fair) and a long history of being good standing with the community (as that's something worth millions of dollars, no well-run company would want to risk that).  I'd also check out: https://cryptogambling.org/   while I don't know every name in the list, the ones I do know are pretty solid options.

Yes, with decentralization there is no check & balance and no central authority who could monitor all the fair plays and other stuff in gambling. 
Rather i would say that this is much more better than a regulatory authority.

In case of Central gambling body, there might be some check and balance but more often we see these bodies are purchased by the big whales in the industry and they influence even those authorities to take biased decisions.

Now the only way for gambling site to survive for a long term is to be fair and supportive to its customers. Healthy competition among the sites is also benefit to the gamblers and i think gambling survival is best in the decentralized environment.

[JohnBitCo]

Just like cryptocurrency industry the gambling industry is not regulated by law and at that their are at freedom to choose which ever rate they choose and either probably fair ground for players and investors. Only they reputation speaks.

You have seen there are lot of scam ICO and scam coins in the crypto world too. Due to no regularity system, we see the emergence of many gambling sites whom purpose is to make quick money by scamming people. Although I do agree that if anyone want to establish a long term business in gambling, reputation will be the main focus for them.

[nakamura12]

It's not that hard to know of that gambling site is decentralized which we know that no one is taking control on what is happening on that gambling site and second find a gambling site that does not required KYC to complete when creating an account to play on the site so, in short do your own research on which gambling site to pick that also protect the identity of the gambler.

[xvids]

Online gambling is very popular nowadays, specially those who also uses crypto for playing. With this popularity, there's ton of gambling sites/operators available. But the problem is who to trust? who plays fair and pays fair?

Are there any regulating bodies that verifies, rates, and promotes gambling sites that is genuinely fair to its customers? Not just on fair plays but also gambling sites that protects its customers identity etc. Thank you.

Right now there is no such thing as what you are searching for .
But you could always look for their provably fair statements besides it is not hard to find a trusted gambling sites.
We also have so many sites that review casino or gambling sites so you could juat easily use it.
P.S I really think that your post is in the wrong section you should move it.

[jvdp]

Regulation things not available for gambling sites. May be you get suggestion from the forum members and you do the own research to use any gambling sites. I wish to go with bitinity.

This is not the place to ask this query. I should move this thread to gambling discussion.
Suspected scam sites can be reported on this forum. trusted members may take action against such scammers.

[okala]

Regulation things not available for gambling sites. May be you get suggestion from the forum members and you do the own research to use any gambling sites. I wish to go with bitinity.

This is not the place to ask this query. I should move this thread to gambling discussion.
Suspected scam sites can be reported on this forum. trusted members may take action against such scammers.

As have said early gambling just like the ICO market can not be regulated and at that any gambling site are at liberty to do what ever the want, even some gambling owners who own an account on this forum and are red tag for some form of scam but nothing have been done about they gambling site's and are still functioning uptilt now.

[BUK2016]

Just like cryptocurrency industry the gambling industry is not regulated by law and at that their are at freedom to choose which ever rate they choose and either probably fair ground for players and investors. Only they reputation speaks.

Don't believe there's no body that stand out for gambling industry regulation, in UK there's a regulatory body that give license to gambling companies that want to venture into gambling like this How-we-regulate-the-gambling-industry


Gambling Act 2005

Our objectives

We permit gambling, in so far as we think it is reasonably consistent with the licensing objectives:

    preventing gambling from being a source of crime or disorder, being associated with crime or disorder, or being used to support crime
    ensuring that gambling is conducted in a fair and open way
    protecting children and other vulnerable persons from being harmed or exploited by gambling.
  

With this you should understand that, law govern the gambling industry which depends on your jurisdiction.

[Duzter]

As the Market is decentralized we can't expect things to be regulated. Everything done with a gambling website is just on trust, as the cryptocurrency user community keeps widening there is good competence within gambling websites providing better support and trusted services. This is how the gambling websites gain reputation and functions flawless.

[HighArT]

That's not regulated just yet, but maybe it will be in the future if crypto will become mainstream.

Your biggest bet would be to do your own research before using any of crypto betting sites. For now. Nobody can guarantee you anything.