Withdrawal/Deposit Issues

[Lakai01]

-snip-
If I am not mistaken, AML also considers gambling funds questionable.

That's not quite true, no. AML does not make more precise definitions of how "dangerous" certain sources of money are, but still explicitly highlights that online gambling can also be used to launder money. Therefore, apart from AML, there are already some measures in place to limit money laundering as much as possible:

The U.S. Bank Privacy Act (BSA) has some regulatory requirements for the gaming and gambling industry, including:

• Creation of Suspicious Activity Reports (SARs) when at least $ 5,000 suspicious transactions are carried out
• Creating Currency Transaction Reports (CTRs) in cash inflows and outflows in excess of $ 10,000
• Application of the most suitable AML compliance programs within the casino
• Keeping track of customers' debts or loans, such as credit extensions over $ 10,000, and keeping those records for up to five years

Source

Of course, an exchange could now invoke this and block deposits from gambling sites. But why an exchange should prevent withdrawals to a gambling site is beyond me.

[Jackl87]

Have any one experienced withdrawal/deposit being stopped by exchanges, just because the amount is getting moved to a gambling site. Recently I made withdrawal from a gambling site to an exchange. After that as I wasn't able to participate in one of the IEO launch I withdrew it back to the gambling site. For days it didn't get transacted. The first transaction automatically got cancelled. The second one was under process, but there is no details about it. Later through the support team came to know about the issue and then I moved the fund to another exchange and from there I deposited back to the gambling site.

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

I have never heard before that exchanges have kind of blacklisted specific addresses that are being checked first if money gets deposited from them or withdrawn to them. I don't think, that this is even possible, because every gambling site user has his personal address where he needs to deposit his funds so he can start to gamble, just like on the exchanges of course. So my guess would be, that you were just unlucky and your transaction was broadcasted at a time where the gas price increased heavily and therefore your transaction just did not went through for a few days until it was cancelled.

[DoublerHunter]

~snip~

Your case is a real heads up for me, thanks for sharing it. Sometimes I also use exchange addresses to send funds to gambling sites, there was no issue so far, but it doesn't mean they are entirely eliminated. Probably  the future transactions to gambling sites I will do exclusively from  my own addresses. So scheme will look like following: exchange ==> my address==> gambling site. I realize that this innvolves some extra expenses but I agree to pay to be free from any problem.

^ That is a great idea though, we should avoid directly have transactions between online gambling casinos and the exchange platform. Probably because the exchanger platform follows those regulators which are they are trying to avoid to prohibit KYC/AML problem.
However, this is served us as a warning because we know now that there is a possible problem when we directly send our fund to those heavily regulated by SEC and that was most exchanges platform. Nevertheless, in this case, there are too many alternatives to avoid such a scenario.

[jrrsparkles]

Have any one experienced withdrawal/deposit being stopped by exchanges, just because the amount is getting moved to a gambling site. Recently I made withdrawal from a gambling site to an exchange. After that as I wasn't able to participate in one of the IEO launch I withdrew it back to the gambling site. For days it didn't get transacted. The first transaction automatically got cancelled. The second one was under process, but there is no details about it. Later through the support team came to know about the issue and then I moved the fund to another exchange and from there I deposited back to the gambling site.

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

Basically the exchanges operating from US can't support your gambling activities, the reputed exchange like coinbase will terminate your account if you deposit any funds from gambling site into their wallet address, so this is not new and must be mentioned in their terms of services.

[YOSHIE]

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

Not all exchanges restrict or prohibit transaction activity on gambling sites, depending on the exchange, I've read the same thing happens, if I'm not mistaken about PayPal transactions to certain gambling sites, prohibited.

As far as I know the exchange will limit or not approve any transactions of funds / crypto and the like against gambling sites, if the gambling site is not registered or official in that country, exchanges are more comfortable conducting trading transactions against gambling sites that have legally defined gambling by their country, that's one of the main points to prevent things that the exchanges don't want their customers for for the sake of safety.

For that the OP must check about the gambling sites you play, whether they are illegal in your country or vice versa, or you contact the exchange team / management asking about transactions about the gambling site, is it safe for them or not.

[Wexnident]

What I could well imagine though is that the exchange does not allow withdrawals to old BTC addresses and only allows segwit addresses for example. However, some gambling sites still use old BTC addresses.

Yea this might be the better explanation for it ngl, or just that the listed address had some negative something to it that the exchange-listed. Exchanges aren't government centered in the first place as I have said after all.

Basically the exchanges operating from US can't support your gambling activities, the reputed exchange like coinbase will terminate your account if you deposit any funds from gambling site into their wallet address, so this is not new and must be mentioned in their terms of services.

Yea looked it up, someone from reddit shared their experience and someone also said that coinbase has this in their TOS so better move on to another exchange to use. Hardly doubt that it's every exchange in the US that doesn't allow transactions with gambling casinos.

[jrrsparkles]

Yea looked it up, someone from reddit shared their experience and someone also said that coinbase has this in their TOS so better move on to another exchange to use. Hardly doubt that it's every exchange in the US that doesn't allow transactions with gambling casinos.

Of course every exchange does that, even the gambling sites doesn't allow people to gamble on gambling sites as well due to their strict regulations.

[Dadan]

Have any one experienced withdrawal/deposit being stopped by exchanges, just because the amount is getting moved to a gambling site. Recently I made withdrawal from a gambling site to an exchange. After that as I wasn't able to participate in one of the IEO launch I withdrew it back to the gambling site. For days it didn't get transacted. The first transaction automatically got cancelled. The second one was under process, but there is no details about it. Later through the support team came to know about the issue and then I moved the fund to another exchange and from there I deposited back to the gambling site.

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

I also experienced this before in my local wallet. I don't know how they can track the transaction from a gambling site? They suddenly freeze my account and emailed me about this issue.
In their new updated ToS, they don't accept a transaction from any gambling site, and I didn't even know it until my account just got freeze. Luckily my account just back to normal after I contact their support.

[Lakai01]

I also experienced this before in my local wallet. I don't know how they can track the transaction from a gambling site? They suddenly freeze my account and emailed me about this issue.
-snip-

To put it simply, a plain address mapping can be used to find out, for example, which transactions were carried out from an exchange or, as in this case, from a gambling platform. The fact that many gambling platforms always use the same blockchain address for payouts is used here; this address can be blacklisted and deposits from this address (or several, if the gambling site uses several) can be blocked.

[Cling18]

Some exchange sites have restrictions that they indicated in their terms and conditions. Some exchanges don't easily accept funds from gambling sites but if that happens, it's still better if you'll reach their support regarding this matter. There are just regulations that we can't do anything about but to follow or better if we'll read their terms and conditions first before transacting.

[dothebeats]

This happened to me once. The change in ToS is so sudden that up to this day, I still have $100 on that exchange because they banned me for transferring and receiving funds from a gambling site. It's a bummer but I didn't know that it was included and they never let me off the hook even though the updated terms is done on a short notice—probably 2 or 3 days, not even business days. To this day, they are still imposing 'shadow bans'  or restrictions on accounts that made transactions with gambling sites using their platform as per observation from other people. This restriction lasts for 7 days for first infraction, 30 days on the second, and permanent ban for the third. You can still take your money out of the platform if you are banned, though it requires some legal paperwork which I am not really bothered to do anymore.

P.S., this is a local exchange from the Philippines.

[Mauser]

I also have an problem with withdrawal / deposit at a casino. So when I first started out I used bitcoins to deposit money to mainly play poker, after I won with the deposit bonus I managed to just withdrawal my initial money again so I could only keep playing with the deposit bonus. After a few months now I am trying to withdraw again but it doesn't seem to be possible again. The withdrawal option to go with bitcoins requires a minimum amount of 1000 USD, and I just have 300 USD. All other withdrawal options are not possible, because it needs to be same option I used to deposit with. Already contacted the support team but they didn't get back to me yet. Looks like I have to try and gamble my way up to 1000 USD.

[panjul07]

I also have an problem with withdrawal / deposit at a casino. So when I first started out I used bitcoins to deposit money to mainly play poker, after I won with the deposit bonus I managed to just withdrawal my initial money again so I could only keep playing with the deposit bonus. After a few months now I am trying to withdraw again but it doesn't seem to be possible again. The withdrawal option to go with bitcoins requires a minimum amount of 1000 USD, and I just have 300 USD. All other withdrawal options are not possible, because it needs to be same option I used to deposit with. Already contacted the support team but they didn't get back to me yet. Looks like I have to try and gamble my way up to 1000 USD.

So how your experience is related to OP experience? Did you read the main topic here or you did read the title only?
You bring a different topic here as your experience is related to "minimum withdrawal" while main discussion in this thread is about deposit/withdrawal from gambling sites from/into exchange.

[abel1337]

This is the reason why I don't withdraw funds from exchange to gambling sites or vice-versa. I don't want to get a hassle like this that's why I choose to withdraw all of my transactions to my non-custodial wallet first then send it to exchange or casino. TOS are being changed from time to time and I don't get updated every time.

[DarkDays]

For reputable gambling sites, these issues could easily pass off as isolated bugs that can be fixed by a couple patches. But for startups and for small-time gambling sites this could make them lose their growing following. People are easy to point fingers especially if your credibility isn't tested and proven just yet, so in situations like these most people, myself included, will deem the site as a scam especially if lack of communication is present.

I couldn't agree more on this. However, I'm of the opinion that in the latter examples there should be clearly stated that there might be some unresolved bugs but to be honest in such a saturated market if you don't start with the right foot you could risk damaging your reputation.

It is hard to give credibility to these new casino launches which is why they must do their best to have everything in place, withdrawals seems like a pretty obvious feature that needs to be working properly. If they can't do that right, then you know you'll never come back there again!

[Mahanton]

For reputable gambling sites, these issues could easily pass off as isolated bugs that can be fixed by a couple patches. But for startups and for small-time gambling sites this could make them lose their growing following. People are easy to point fingers especially if your credibility isn't tested and proven just yet, so in situations like these most people, myself included, will deem the site as a scam especially if lack of communication is present.

I couldn't agree more on this. However, I'm of the opinion that in the latter examples there should be clearly stated that there might be some unresolved bugs but to be honest in such a saturated market if you don't start with the right foot you could risk damaging your reputation.

It is hard to give credibility to these new casino launches which is why they must do their best to have everything in place, withdrawals seems like a pretty obvious feature that needs to be working properly. If they can't do that right, then you know you'll never come back there again!

We would say that first impression does last and when people do have non pleasant experience on first time engagement on a certain site then that would really be a great factor
neither a certain player would stay or would just simply skip off and i agree that they should do their best and if there are some unavoidable or unexpected errors then
it should really be fixed immediately and dont let the issue to last long because this will really affect in overall site impression neither in the good or in bad side.
About on between deposits from gambling sites then some platforms or majority of them specially in exchanges wouldnt really tolerate or does prohibit
so expect that once caught then that would really be hassle.

[harizen]

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

There are other details we don't know. Does the exchange tell you that the specific reason is about gambling-related issues?

Despite all issues about exchanges banning accounts that involve gambling, I don't experience it yet, and honestly, till now, my gambling funds were just rotating between exchanges and gambling sites without any issues. Take note that these exchanges have a gambling-related subject on their TOS but still not facing any problem for years. And most of the cases wherein I will saw someone claimed that their exchange account got freeze because of gambling, there is no proof that the support itself tells them that it's about gambling as the main reason.

That experience of mine makes me think that these frozen or suspended accounts that supposed to be related to gambling have other reasons why their accounts got flagged. As for transparency, exchanges should tell their users about the specific reason why the account got flagged.

[Silberman]

Have any one experienced withdrawal/deposit being stopped by exchanges, just because the amount is getting moved to a gambling site. Recently I made withdrawal from a gambling site to an exchange. After that as I wasn't able to participate in one of the IEO launch I withdrew it back to the gambling site. For days it didn't get transacted. The first transaction automatically got cancelled. The second one was under process, but there is no details about it. Later through the support team came to know about the issue and then I moved the fund to another exchange and from there I deposited back to the gambling site.

I believe this is being followed for the purpose of making everything transparent and not to get into illegal things. If thats the case then these exchanges shouldn't accept funds from gambling sites.

It has been known for a long time that exchanges do not like to receive or send money from gambling sites, now why they did not stop you from receiving those coins into your account? Because they cannot do it, you were the one in control and as such they just reflected the transaction in your balance, but once you tried to get that money out of the exchange into a casino they blocked that transaction, so next time take the time to send your coins to an address you control so this does not happen to you again.

[goinmerry]

If thats the case then these exchanges shouldn't accept funds from gambling sites.

There are no wallets that directly tagged as owned by specific gambling sites so I don't know how exchanges will able to determined if the funds came from the gambling sites. Gambling-related activities were put on the exchange term as a common and usual term that an exchange should have.

We just based on OP's shared information but who knows there are other issues that's why OP faced such problems. It would be better too if OP can name these exchange and the gambling site involved.

[Rengga Jati]

This can happen. There are a number of exchanges that do have strict rules about this. Especially in countries that do prohibit gambling.
There is an exchange in my country that does not accept any deposits (in large amounts) which indicate a transfer from a gambling platform. This also causes the deposit funds to be stuck and it takes several days for the refund process to be processed because it requires further investigation.
This may occur because the exchange already has an agreement or complies with the regulations of the country if it still wants to operate.