Sending BTC from Gambling Site to Binance?

[TheNewAnon135246]

Does anyone know if there is any issue with this? 



Can someone here confirm if there is any issue sending btc from a sportsbook to binance?  Someone a while back mentioned there is nothing in the TOS against it.  I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.



Has anyone done this and if so, anyone ever had an issue with this?

If it isn't mentioned in the TOS you'll be fine, unless the deposits are large amounts. They might want to know the origin of your funds if they suspect money laundering.

[monalia]

Naresh no issue on sending Bitcoin payments from gambling sites to binance. I usually take my I windice campaign payment from this site to binance occasionally.
I am not sure what exactly you have done on this transaction to explain the problems you faced. if you have tax ID on the screenshot of the issue happened it could be helpful to explain you what happened.

[dunfida]

Why coinbase will ban the accounts if someone is trying to transfer a fund to their platform? If I am the owner of coinbase, I will surely be glad to allow it to transfer that fund to my platform site even it is came from other gambling site who accepted Bitcoin and crypto as well. Because I don't see wrong or mistakes in that matter.

     Coinbase is merely attempting every effort to remain in compliance with US regulations since they are based in the US (San Francisco). Since Coinbase is one of the bigger exchanges listed in the US, I am sure the US government is keeping a close eye on them. From what I understand, Binance is going to stop servicing US customers on their main platform, probably because they do not want to deal with the long arm of the US government. However, I believe Binance is going to have a special platform based in the US for US customers. Since online gambling is technically not allowed in many states in the US, Binance will probably have to take measures to discourage any transactions coming from casinos as well on their US based platform.

Just like on what they have done with Binance Jersey which serves out
European market.No doubt that they would make something for US customers yet this exchange wont really let any
leaking when it comes to market.

[nydiacaskey01]

Does anyone know if there is any issue with this? 



Can someone here confirm if there is any issue sending btc from a sportsbook to binance?  Someone a while back mentioned there is nothing in the TOS against it.  I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.



Has anyone done this and if so, anyone ever had an issue with this?

I have a Bitsler account and a Binance account, I tried to do what your topic is about and I dis not get any problem in transferring funds from Bitsler to Binance. Its true that there are exchange sites that don't allow deposits coming from a gambling site and one of them is coins.ph in the Philippines and its not only from a Gambling sites but they also prohibit funds coming from Ponzis.

[boyptc]

OP jerry0, I guess you have received a decent number of replies and you shouldn't worry about it.

This thread has made its purpose so I hope you'll close it.

[Japinat]

I don't know what country you are living now and what crypto regulation is within your country, but AFAIK, there would be no problem sending money from a bitcoin exchange to a casino, at least I never read some post about a problem like the funds has been on hold or block because of the type of transaction you mentioned.

[MadeinCoin]

I have not found that there is an exchange that prohibits sending BTC from gambling wallets. If you mention that Coinbase prohibits sending BTC from gambling wallets, or vice versa. I think all BTC wallets are the same, and the blockchain system is the same, because BTC is sourced on one Blockchain. So if your wallet address is correct, wherever you send BTC, then BTC will still be transferred automatically.

Right, because any bitcoin wallet cannot recognize where the bitcoin was sent. Perhaps the purpose of the OP statement is because Coinbase has an office in the US, so they must comply with all regulations in the US, especially about taxation. As we know that the US is very strict on the entry of crypto in their country, this might be a coinbase issue.

[DoublerHunter]

I have not found that there is an exchange that prohibits sending BTC from gambling wallets. If you mention that Coinbase prohibits sending BTC from gambling wallets, or vice versa. I think all BTC wallets are the same, and the blockchain system is the same, because BTC is sourced on one Blockchain. So if your wallet address is correct, wherever you send BTC, then BTC will still be transferred automatically.

Right, because any bitcoin wallet cannot recognize where the bitcoin was sent. Perhaps the purpose of the OP statement is because Coinbase has an office in the US, so they must comply with all regulations in the US, especially about taxation. As we know that the US is very strict on the entry of crypto in their country, this might be a coinbase issue.

^ If that Coinbase is the issue I think they are irrelevant to the OP's thought. OP was stating that from the wallet of gambling site to the wallet of the Binance exchange. I think there's no problem in sending bitcoin in Binance even if come from any gambling platform.
You can always read the FAQ and term and conditions on Binance exchange regarding this matter.

[Findingnemo]

Does anyone know if there is any issue with this? 



Can someone here confirm if there is any issue sending btc from a sportsbook to binance?  Someone a while back mentioned there is nothing in the TOS against it.  I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.



Has anyone done this and if so, anyone ever had an issue with this?

I did withdrawn btc from gambling sites to some exchange but never had an issue.So I guess it depends on your nationality,if your country banned gambling activities then you cannot withdrawn from their.

[robelneo]

I don't see any issue sending from a gambling site to an exchange, as long as both sites are legit and there is no issue it will arrive on that wallet from one wallet, I have not read any report that Binance does not accepts wallets from a particular site.

[aioc]

If the gambling site offers instant withdrawal and the exchange can verify as soon as possible then it will be credited to your account, the wallet coming from Binance has an explorer you can always if the coin went through, it will show up if it confirmed.

[tsaroz]

Does anyone know if there is any issue with this? 



Can someone here confirm if there is any issue sending btc from a sportsbook to binance?  Someone a while back mentioned there is nothing in the TOS against it.  I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.



Has anyone done this and if so, anyone ever had an issue with this?

I don't think there are any TOS regarding sending in from or sending to gambling sites or sportsbook. It's also difficult to track them as they send coins from different addresses from their hot wallet. Coinbase seems to have some terms cautioning users not to send and receive from gambling sites. But I've done it hundred of times without any issue.

[shoreno]

the wallet coming from Binance has an explorer you can always if the coin went through, it will show up if it confirmed.

all of the btc transactions are recorded on the blockchain and even if they dont have thier own explorers you can still search your address on blockchain to see your transaction status .

I don't think there are any TOS regarding sending in from or sending to gambling sites or sportsbook.

depends on the exchange or wallet  . some wallets that i used on the past wont also allow me to recieve funds that came from a gambling website  and its written on thier rules   . coinbase on the other hand is a strict wallet/exchange so they might also have this rules  . best thing that op can do is to send the btc on a wallet that is less stricter and then send the coins to binance .

[FFrankie]

Why not just read the terms and conditions and see? If it's okay for them to accept gambling deposits what about sending deposits to a gambling site from binance ?

[Zicadis]

The only issue I could think of is that if you have your Binance KYC completed they know who you are and that you have gambling winnings possibly being redeemed, this just seems like something i would pay attention to during tax season.

I can understand if we are talking about trade taxes, because a lot of users of cryptocurrency receive precisely due to this activity a large income.  But the gambler gets too small prizes to interest the Tax Inspectorate.  Perhaps there are some tax minimum?

Most countries consider gambling winnings tax-free, otherwise people would be able to claim tax-relief for their losses.

Since more people lose than win, the government would therefore be net negative by implementing such a practice.

That being said, some unscrupulous governments tax winnings but don't offer relief, making gambling a risky pracrice indeed.

[Dread Pirate Roberts]

Does anyone know if there is any issue with this?  
Can someone here confirm if there is any issue sending btc from a sportsbook to binance?  Someone a while back mentioned there is nothing in the TOS against it.  I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.
Has anyone done this and if so, anyone ever had an issue with this?

I think it's normal that shouldn't be a serious problem because basically you can check the status of the transaction from blockexplorer and also from the wallet casino you used itself there is no need to have a sign wallet or something like that. if you are afraid of that, why not withdraw it to your wallet first and then to the exchange? transaction fee i think is still very cheap at this time.

[numanoid]

Why not just read the terms and conditions and see? If it's okay for them to accept gambling deposits what about sending deposits to a gambling site from binance ?

Sadly, nowadays people are too lazy to do that. You are hoping something which unlikely happens

I think it's normal that shouldn't be a serious problem because basically you can check the status of the transaction from blockexplorer and also from the bank itself there is no need to have a sign wallet or something like that. if you are afraid of that, why not withdraw it to your wallet first and then to the exchange? transaction fee i think is still very cheap at this time.

If binance disallowed any deposit from any gambling site, it's useless to check your money through any kind of blockchain

[stadus]

Most countries consider gambling winnings tax-free, otherwise people would be able to claim tax-relief for their losses.

Fair enough, government should act like that, they should be taxing the gambling sites as it's easier for them to do.
What I know, only lottery winnings are tax free but personally, I don't remit taxes on my winnings because I don't win all the time or even most of the time.
Government are so desperate if they tax the losers (which is us), gambling would not be fun anymore especially for small gamblers like us.

[Polar91]

Does anyone know if there is any issue with this?  



Can someone here confirm if there is any issue sending btc from a sportsbook to binance?  Someone a while back mentioned there is nothing in the TOS against it.  I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.



Has anyone done this and if so, anyone ever had an issue with this?

I have done it and there is no issue occurs in my Binance account perhaps because it's not that huge. It's a different story if we are talking huge amount of money. Binance is against money laundering thus it's their responsibility to lock an account that is connected to suspicious activity.

[Hippocrypto]

If you're legit user of binance, I think that's not a problem upon sending an amount of btc from gambling site going to binance. Please make sure to have the correct btc address to be used for sending going to binance. Just use small amounts first for testing, and then if no circumstances will occur you could do it by same procedures.