Regulating bodies

[Ucy]

I do not think a regulating body is necessary for  crypto gambling. we already have stuff like provable fair gambling and other methods for checking frauds.
We should just regulate more with codes and less with humans for the sake decentralization.

[electronicash]

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.

somehow there is such as the Caribbean island-based regulatory body to which one of them is Curaçao eGaming. one project that is registered to them was EOSbet. i don't know if we can consider a platform to be an regulatory body like the EOSio because as far as i know they list projects that the foundation support making them legitimate.

[raven7886]

I do not think a regulating body is necessary for  crypto gambling. we already have stuff like provable fair gambling and other methods for checking frauds.
We should just regulate more with codes and less with humans for the sake decentralization.

Exactly mate. Even on this forum it would be easy to get a reputable casino site. So if anyone is in doubt of a casino site he can easily bring it up and would get help as soon as possible. If regulatory body works for another things it’s definitely not going to work with casino sites because with the history of gambling and how the site is created most of them operate illegally.

The funny thing is some of the sites that would actually be reliable, because they are licensed, gamblers would not like to play on it because of some of its rules that might not be suitable for them. For example every site that is licensed must ask for kyc at withdrawal in their site but who would want to do this, irrespective of how genuine the site might be?

[BlueStackz]

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.

Having a regulatory body for online crypto casinos will not be easy at all, Don’t forget that some of this gambling sites operate from Caribbean island, and  I would have suggested that the best way to know trusted gambling sites is to check for the ones who are licensed in their regions but most licensed casino sites would demand for KYC and this is what most gamblers hate to hear. And some are licensed but yet reputable, so we still can’t judge by that.

If you have fear of been scammed, then I advise you carry out a good research before  you play on any site, For me the way I judge a reputable site is on how long it has existed and the reviews on the site, but  a regulatory body for crypto casino is never going to happen.

[Gozie51]

I think that such regulation would have come from the regulation of cryptocurrency itself because that will be a model for regulation of any crypto project including that of casino but that does not exist for now.

[michellee]

I think that such regulation would have come from the regulation of cryptocurrency itself because that will be a model for regulation of any crypto project including that of casino but that does not exist for now.

Maybe but I don't think that regulation can fully apply in the cryptocurrency, but I don't know. Maybe regulating will be good for cryptocurrency but I still thinking of how to apply that regulation since cryptocurrency is not bonded to the governments. I don't know either if the casino was regulating because so far, I only play the games like the other gamblers.

[Indamuck]

All these casinos operate from small countries with next to no regulation.  The only way to ever regulate it on a meaningful level all countries in the world would have to agree on a set of laws which is unlikely to happen.

[Ipwich]

I think the reason why they are increasing and they offers best service to us because they are not regulated.
There are gambling sites that are regulated but they are more strict, they want us to pass the KYC before gambling and I don't like that idea.
Honestly, I would rather gamble in site that is not license but has gain good reputation in the space as we can preserve our privacy with them.

To avoid scam, it's best to research the site, read some feedback, that would help a lot in choosing the good ones.

[omonuyak]

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.

The only regulations we have now is what me and you are doing.  Cryptocurrencies business (trading,  gambling and investment)  is about trust and we did not need regulations.  We have many gambling sites here that has been in existence and most of them has been paying us our earnings and that is what matters and not government regulations.

[mich]

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.

Your playing with fire by gambling with cryptos if its illegal where you live.
Even more so it is important to do your own research when deciding to deposit your coins into a casino.
To my knowledge there are no real regulatory bodies and always be careful with what you read on here.

[shoreno]

- snip ~

Your playing with fire by gambling with cryptos if its illegal where you live.
Even more so it is important to do your own research when deciding to deposit your coins into a casino.
To my knowledge there are no real regulatory bodies and always be careful with what you read on here.

if gambling is illegal on a  certain country then the gambling site was also banned not unless a gambler will use some kind of anonymous tools such as vpn . on gambling there are also regulations especially if the kind of gambling that you are playing with is not a blockchain based a.k.a centralized  . most of us will only prefer decentralized gambling because it does not need any identifications such as kyc's  and aml's  .

[orions.belt19]

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.

It's almost impossible to have a regulatory body for online crypto casinos because they are not bound by regions. Crypto casinos can be operated from any countries so the best way to see its legitimacy is to check if a casino is licensed in their country or not. ALl license crypto casinos usually show their company name and license number in their website which can be validated through the company directory of their respective countries. That's the first level of validation anyone can do.

Second level validation is mainly the reputation check. Looks for their official thread in big forums like bitcointalk and go through the recent comments. You will definitely get an idea about what's going on. These reputation check will give you a very good overview about a particular casino and you can accordingly decide whether you want to go ahead with them or not! 

I think there are reviews that you can search online or find in forums such as this, and that could aid you in verifying or validating. Reputation plays a big part - surely if a gambling site has a sketchy history, people would talk about it so better keep your ears open for that. So far, I don't think that there are any other regulating bodies which makes verification because of the conflict among jurisdictions. The best a customer could do is due diligence and research on the background of the gambling site or operator.

[YuginKadoya]

I think there are reviews that you can search online or find in forums such as this, and that could aid you in verifying or validating. Reputation plays a big part - surely if a gambling site has a sketchy history, people would talk about it so better keep your ears open for that. So far, I don't think that there are any other regulating bodies which makes verification because of the conflict among jurisdictions. The best a customer could do is due diligence and research on the background of the gambling site or operator.

There are tons of gambling site reviews that you can google up to see for yourself the validity and fairness of each site, I am not pinning any link because you can research on it yourself, And because gambling site can surely come and go you will sure base only with reviews and having a trustful thinking with your favorite site that it is truly legit, Well their reputation is on the line so you should see that consider reporting gambling sites that have scam accusation and problem with their fairness to be reported in the forum so others can see and be aware of it,

Well I don't know if there are regulating bodies that are keeping tabs on a gambling sites activities and recording their every move, There are tons of review about a certain gambling sites but you can not call them regulating bodies, I would like to call them volunteer bodies, Because they are doing it for the love and support and not for something else.

[coin-investor]

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.

Check reviews coming from trusted members of this forum, and also check any complaints from the scam sections players usually post their experiences in various gambling sites that they are playing take note of that even small complains, from there you will get the big picture if the gambling sites deserve your trust.

[aioc]

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.

Some gambling sites have a provably fair system to check all the bettings, but about the sites operations and customer's identification, it is on the country where they are operating, we have this in our country and people can check the office for verification.

[freedomgo]

Your playing with fire by gambling with cryptos if its illegal where you live.

That's surely be a problem if the implementation is really strict.

Even more so it is important to do your own research when deciding to deposit your coins into a casino.
To my knowledge there are no real regulatory bodies and always be careful with what you read on here.

This is gambling in crypto space, and lack of regulation is one of the reason why the crypto gambling industry prosper.
However, as it prosper, that also increase the risk since lots fake sites and scammers taking advantage, therefore research is always important prior to playing.

[Ucy]

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.

Some gambling sites have a provably fair system to check all the bettings, but about the sites operations and customer's identification, it is on the country where they are operating, we have this in our country and people can check the office for verification.

He could just use the regulated casinos (especially the fiat based ones) if he prefers regulation. Reputable
Cryptocurrency based gambling sites have been able to sort this issue out with provable fair and the use of blockchain.

[pixie85]

Makes me wonder why do you need help from the regulators. I know this makes it easy and you can be lazy and not do any research and choose a regulated site. If anything happens you will write a complaint. But what if the complaint does nothing? You will have a false sense of security that regulators can protect you but many times they can't or they won't.

[gantez]

I think regulation of casino is also like ico too who are different and independent from each. Basically, crypto dealings have not been regulated and this can say more that online businesses are hardly regulated.

[Altero]

I think regulation of casino is also like ico too who are different and independent from each. Basically, crypto dealings have not been regulated and this can say more that online businesses are hardly regulated.

Definitely, it won't. Only the regulating bodies can do is to minimize scammers or fake site but in regards into market prices will obviously pretty hard.
Anyways, we and the community itself never wanted to be regulated in the first place and this regulating bodies will making no sense at all. Being in decentralized form will looks great and we can make more profits rather to the market than everything we do there is someone that will stop.
We live this since before and there is nothing need to change, only we asked is to wipe out all fakes ICO's.