Regulations in online Gambling sites

[Gotumoot]

I don't think that the high roller would agree to having a cap on gambling or regulating it and besides how would it actually help?
The gambling sites would have a limited plays for each of their user so that would cut down their profit.
And also I think it could be cheated if they would limit the it then the players could create multiple account to bypass the limit and play however they want.

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[Shasha80]

Of course, with the government regulating online gambling by limiting bets to reduce the number of gambling addicts,
it is a good thing. But this will have an effect on tax revenue, because as a result of this regulation online gambling
income will decrease drastically. Even though the economy is currently in crisis, it should be reviewed in relation to
this online gambling regulation. Because I think it should be the government is thinking of other more effective ways to
deal with gambling addicts.

[mardaed]

Agreed. Taking into consideration that is not usual for the government to be pro cryptocurrencies.
I also think that if online casinos will be regulated legally, then crypto casinos would possibly be affected as well.
Keeping in mind that it is not just about mandatory limits but regulations regarding general operations.

I understand your thoughts. And I think that even if the government decided to take position in regulating online casinos, it is not that easy to be able to reach all of these online casinos, especially crypto related.

[Slow death]

honestly I see many obstacles in this matter of regulating online casinos.

1 - How will governments carry out periodic inspections at online casinos if these online casinos have no physical headquarters?

2 - in case of disputes between the client and the casino, how will governments manage to resolve if cryptocurrencies are not regulated?

[Ucy]

honestly I see many obstacles in this matter of regulating online casinos.

1 - How will governments carry out periodic inspections at online casinos if these online casinos have no physical headquarters?

2 - in case of disputes between the client and the casino, how will governments manage to resolve if cryptocurrencies are not regulated?

Things could be easily and efficiently regulated in a decentralized crypto network without the need for centralized governments. I think it's a matter of having the proper rules for the visible/known betting world  to stick to, and having good enforcement for rule breakers.

[mersal]

I don't think that the high roller would agree to having a cap on gambling or regulating it and besides how would it actually help?
The gambling sites would have a limited plays for each of their user so that would cut down their profit.
And also I think it could be cheated if they would limit the it then the players could create multiple account to bypass the limit and play however they want.

Casinos will moves to gambling heaven country if their country is starting to implement these kind of non sense regulations, if they don't want their people to gamble then they should ban it but they want to have limiting the amount of bets which i going to affect the gambling sites and not going to give any benefits to the people because still people who are supposed to addict will become one.

[johhnyUA]

It's interesting to watch, how opinions divided: some people butthurt about that fact, some people tell that government will not be able to do that. And noone (except me earlier) trying to think about legitimacy of such action. Casino is robbery in law, meaning, that you're going there and know (if you're not too stupid) that you will lost your money. And casino knows it pretty well. So here is a question: Why government should   allow casino to steal big amounts? If people want to be robbed, maybe this will be better to decrease amount of funds that they will lost?

Especially in online casino, where you never know how fair it is.

[Twentyonepaylots]

honestly I see many obstacles in this matter of regulating online casinos.

1 - How will governments carry out periodic inspections at online casinos if these online casinos have no physical headquarters?

Casinos will have to submit any documented papers that happens in a certain period of time so the government will know what's going inside and outside of the casino such as transactions and player's data (at least the IP in case of any suspicion) Buy this the government can easily track and monitor the casino. In short casinos will be the one who will report to the government.

2 - in case of disputes between the client and the casino, how will governments manage to resolve if cryptocurrencies are not regulated?

Well that will be a two party arrangement and will definitely based on the terms that the client have agreed to. Besides we have an existing law about scam and fraud so that's a win for every one.

[adzino]

I very recently read a news regarding how one has to prove that , they can afford the loss of even 100 euro.

https://bitcointalk.org/index.php?topic=5266925.msg54941310#msg54941310

Now I was going through the news and found some indepth idea of how the casinos will be regulated online. The one am sharing is regarding the slot games being regulated online in Great Britain.

https://www.gamblingnews.com/news/slot-games-in-gb-to-receive-betting-and-deposit-limit-suggests-a-new-report/

-Mandatory limit between 1£-5£
-Soft cap of 100£ monthly

-snip-

I am not sure why others are saying this is going to be a good thing, but to me this law is totally stupid and absurd. Lol, seriously? One has to prove that they are financially capable of gambling? That is hilarious!
Lol the government trying to control the financial aspects of a grown up adult. I mean the person is an adult and he knows what he should do and what he shouldn't. The government shouldn't be taking care of them like a baby.

[carlfebz2]

I am not sure why others are saying this is going to be a good thing, but to me this law is totally stupid and absurd. Lol, seriously? One has to prove that they are financially capable of gambling? That is hilarious!
Lol the government trying to control the financial aspects of a grown up adult. I mean the person is an adult and he knows what he should do and what he shouldn't. The government shouldn't be taking care of them like a baby.

Government does show up some concern into its citizens but they should at least rising up a considerable limit not just on £100.Yeah its stupid but i doubt that this one would be fully
or surely be followed nor implemented.If not then expect that there would be other ways on how gambling businesses will still able to get those high rollers.

There would be some petition of this rule or law in gambling business about raising up the limit.Surely this affects the business and knowing that gambling business does
generate big taxes unless if they dont care about.

[dothebeats]

It seems as if this regulation is pushing gamblers towards traditional casinos and gambling houses. First off, the soft cap limit mentioned is too low for someone to enjoy FOR A MONTH. That isn’t socially-acceptable, that’s kinda restricting people to spend on things they earned. Second, why do people need to verify/confirm that they are financially-capable of spending money to gamble? This isn’t some sort of investment scheme where a ‘show money’ should be imposed. Just let people deposit money and lose it on whatever things they enjoy. This isn’t regulation at all—this is outright controlling people’s financial decision masked by a fake concern.

[AmoreJaz]

It's interesting to watch, how opinions divided: some people butthurt about that fact, some people tell that government will not be able to do that. And noone (except me earlier) trying to think about legitimacy of such action. Casino is robbery in law, meaning, that you're going there and know (if you're not too stupid) that you will lost your money. And casino knows it pretty well. So here is a question: Why government should   allow casino to steal big amounts? If people want to be robbed, maybe this will be better to decrease amount of funds that they will lost?

Especially in online casino, where you never know how fair it is.

gambler's choice whether he wants to lose big amount or not. anyway, that regulation is there but i dont think many gamblers will follow once it is implemented. tbh, there are so many ways how to break that rule. so i guess, gamblers should not be too worried about it. what they should worry is, do they have that extra money to spare in gambling or are they using the money supposedly for his family's needs?

[Mahanton]

It seems as if this regulation is pushing gamblers towards traditional casinos and gambling houses. First off, the soft cap limit mentioned is too low for someone to enjoy FOR A MONTH. That isn’t socially-acceptable, that’s kinda restricting people to spend on things they earned. Second, why do people need to verify/confirm that they are financially-capable of spending money to gamble? This isn’t some sort of investment scheme where a ‘show money’ should be imposed. Just let people deposit money and lose it on whatever things they enjoy. This isn’t regulation at all—this is outright controlling people’s financial decision masked by a fake concern.

This is what im thinking too on where its concerns is fake and just really trying to control people on how they should spend up.Its just really too small for someone to spend up on an entire month yet it can even be spent out on an entire day on playing which would already consumed out on your limit for the entire month which is absurd.It wont really be that controversial if they had just ban nor prohibit it rather than giving out small limits on where it would really be just as good as none.

[ralle14]

I dont understand why governments want to regulate casino's and gambling site by limiting betting especially when the economy is in critical situation due to businesses closing. In fact i dont understand, why governments still insist on this law when they are trying to revitalized the economy. This is a good move to help people but it's also bad in macroeconomics.

It's because online gambling is becoming more popular now and there's only a few solutions available to stop gambling addiction. While it's bad for the country it could improve the people's quality of life as they're forced to spend it somewhere else. You're right a lot of business are struggling but the proposal is focused in online casinos which is still going strong regardless of the pandemic.

This would be good if it's an optional solution like the self exclusion instead of forcing it on everyone imo.

[Finestream]

honestly I see many obstacles in this matter of regulating online casinos.

1 - How will governments carry out periodic inspections at online casinos if these online casinos have no physical headquarters?

I don't think it's hard to do it, as long as the casino is given a license to operate, they are under the regulation of the government, and they can ask the casino to give them a pass to check their system if they complied, it's easy, they'll only check the amount of bets as what we are talking here is only the limits, with the advance technology now, this is not hard to do.

2 - in case of disputes between the client and the casino, how will governments manage to resolve if cryptocurrencies are not regulated?

Like I mentioned above, this is only for regulated casinos which is under their jurisdiction, they have no access nor control of the crypto casinos when not regulated.

[jademaxsuy]

honestly I see many obstacles in this matter of regulating online casinos.

1 - How will governments carry out periodic inspections at online casinos if these online casinos have no physical headquarters?

I don't think it's hard to do it, as long as the casino is given a license to operate, they are under the regulation of the government, and they can ask the casino to give them a pass to check their system if they complied, it's easy, they'll only check the amount of bets as what we are talking here is only the limits, with the advance technology now, this is not hard to do.

2 - in case of disputes between the client and the casino, how will governments manage to resolve if cryptocurrencies are not regulated?

Like I mentioned above, this is only for regulated casinos which is under their jurisdiction, they have no access nor control of the crypto casinos when not regulated.

Regulating online based or crypto based casino is very simple. Many would wonder how they will be able to see the transactions being done withou POS? Well we know that casino are using blockchain and if not they should be required to use blockchain before they can get their license to operate. Then what happen next? Simply online casino could not evade tax on it for all the transactions being done are being made public due to blockchain. So, meaning regulating this and taxing casino were very easy for them and there could be more ways for the goverment to regulate online casino. And as expected if online casino violated their rulings then high penalty awaits. This is how they make sure that online casino should follow the protocols and their mandate. Usually penalty is so high that if you are the owner of the casino you would not mind following the rules and regulations rather than getting fine on the high penalties. 

[Finestream]

honestly I see many obstacles in this matter of regulating online casinos.

1 - How will governments carry out periodic inspections at online casinos if these online casinos have no physical headquarters?

I don't think it's hard to do it, as long as the casino is given a license to operate, they are under the regulation of the government, and they can ask the casino to give them a pass to check their system if they complied, it's easy, they'll only check the amount of bets as what we are talking here is only the limits, with the advance technology now, this is not hard to do.

2 - in case of disputes between the client and the casino, how will governments manage to resolve if cryptocurrencies are not regulated?

Like I mentioned above, this is only for regulated casinos which is under their jurisdiction, they have no access nor control of the crypto casinos when not regulated.

Regulating online based or crypto based casino is very simple. Many would wonder how they will be able to see the transactions being done withou POS? Well we know that casino are using blockchain and if not they should be required to use blockchain before they can get their license to operate. Then what happen next? Simply online casino could not evade tax on it for all the transactions being done are being made public due to blockchain. So, meaning regulating this and taxing casino were very easy for them and there could be more ways for the goverment to regulate online casino. And as expected if online casino violated their rulings then high penalty awaits. This is how they make sure that online casino should follow the protocols and their mandate. Usually penalty is so high that if you are the owner of the casino you would not mind following the rules and regulations rather than getting fine on the high penalties.  

That point is very much valid, it's easier to track online transactions of a crypto casinos as there is a blockchain which we called a public ledger, and regulators can just follow the wallet the casinos are using as they'll have to register that wallet and it's easy as doing bank reconciliation in accounting.

The only thing that bothers me is, what if these gamblers will gamble on a non regulated casinos? how would the government implement the law?

We know it's not impossible as most crypto casinos online does not require KYC.

[Barnabe]

I very recently read a news regarding how one has to prove that , they can afford the loss of even 100 euro.

https://bitcointalk.org/index.php?topic=5266925.msg54941310#msg54941310

Now I was going through the news and found some indepth idea of how the casinos will be regulated online. The one am sharing is regarding the slot games being regulated online in Great Britain.

https://www.gamblingnews.com/news/slot-games-in-gb-to-receive-betting-and-deposit-limit-suggests-a-new-report/

-Mandatory limit between 1£-5£
-Soft cap of 100£ monthly

-snip-

I am not sure why others are saying this is going to be a good thing, but to me this law is totally stupid and absurd. Lol, seriously? One has to prove that they are financially capable of gambling? That is hilarious!
Lol the government trying to control the financial aspects of a grown up adult. I mean the person is an adult and he knows what he should do and what he shouldn't. The government shouldn't be taking care of them like a baby.

Once the "grown up adult" runs out of money and cannot afford his rent anymore guess to who he will turn to ? I'm against a social welfare state, but if you are governing one it makes sense to implement this sorts of regulations.

[imstillthebest]

I very recently read a news regarding how one has to prove that , they can afford the loss of even 100 euro.

https://bitcointalk.org/index.php?topic=5266925.msg54941310#msg54941310

Now I was going through the news and found some indepth idea of how the casinos will be regulated online. The one am sharing is regarding the slot games being regulated online in Great Britain.

https://www.gamblingnews.com/news/slot-games-in-gb-to-receive-betting-and-deposit-limit-suggests-a-new-report/

-Mandatory limit between 1£-5£
-Soft cap of 100£ monthly

-snip-

I am not sure why others are saying this is going to be a good thing, but to me this law is totally stupid and absurd. Lol, seriously? One has to prove that they are financially capable of gambling? That is hilarious!
Lol the government trying to control the financial aspects of a grown up adult. I mean the person is an adult and he knows what he should do and what he shouldn't. The government shouldn't be taking care of them like a baby.

Once the "grown up adult" runs out of money and cannot afford his rent anymore guess to who he will turn to ? I'm against a social welfare state, but if you are governing one it makes sense to implement this sorts of regulations.

implementing it makes you smell good to the public especially to the people that dislikes the idea of gambling and for those parents who dont like the gambling addiction of thier kids .

having a casino regulated is also a plus point to you because you can tax them  but why only britain ? not familiar of this country and i didnt saw them being involved heavily on gambling but there are more countries that needs a help like this .

[panganib999]

Such concept of limiting the amount of expenses being spent on online gambling will surely not agreeable to the gamblers out there for they will surely be feeling that they are being controlled on the way they were supposedly enjoying which is playing gambling. Although the idea was clear to lessen the gambling addiction and too much expenditure on playing gambling, still gamblers will surely not agree on this for they will feel more pressure that they must limit their bets to be able to make their gameplay last longer.

Also, the control on gambling plays will not be proven by this because it is already a certain regulation that will leave them no choice but to agree to be able to still play. The control on playing will not be testified by limiting the amount they must spent on gambling because addiction is kind of psychological manner and limiting gamblers will add more pressure on them since they know they are being limited on their gameplays.