Withdrawal/Deposit Issues

[romero121]

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.

When the first time exchange is not allow for member to withdraw their assets to gambling site, maybe you make big fund withdraw and I heard some exchange is make canceled and always get problem withdraw above 5k dollar, bad service from exchange market how ever what their business when some one want to withdraw to gambling site or not because this our money.

The amount isn't big, the withdrawal amount was $1000. Few exchanges are following certain regulations to keep everything recorded. In that particular exchange without KYC you cannot make any small trade. When making deposit into the exchange also I'm asked from which source is the amount. Whether it is from savings, investment or something else.

[ReiMomo]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

Exchanges that are mandated or registered in a country which prohibits gambling have these rules to not accept transactions of funds came from gambling. So there is a need to be careful on reading TOS or the sites rules and law to know whether were on a right track especially if we needed the money since it can cause close account or postponement. What worst is if they find it out later when you already saved a lot in that exchanged.

I think most exchange that has implement of KYC/AML implementation is a part of them not accepting fund that comes from the gambling.
That's what exactly right, the best thing to do before making such a transaction is always read the terms and conditions to avoid your account becomes lock or freeze by them.

Instead, why not send it first from your clean wallet from a gambling site and then send it to the exchange platform that you have used. There will be an always solution for this if we really want to.

[Saint-loup]

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.

That's a really weird experience, it's the first time I read that. But what I don't understand is how did they know the deposit address was belonging to a gambling site? Usually one address is at least generated for each account. So they have no way to guess that fresh address belongs to a gambling site. For me the issue was not related to the nature of the business of the recipient.

[ralle14]

That's a really weird experience, it's the first time I read that. But what I don't understand is how did they know the deposit address was belonging to a gambling site? Usually one address is at least generated for each account. So they have no way to guess that fresh address belongs to a gambling site. For me the issue was not related to the nature of the business of the recipient.

I'm not sure if most gambling sites still does this but I know a couple of sites like cloudbet sends all of the deposits they receive in their hot wallet and there are others that wait for the transactions to accumulate before they consolidate it as a way to save fees.

Instead, why not send it first from your clean wallet from a gambling site and then send it to the exchange platform that you have used. There will be an always solution for this if we really want to.

I guess OP wanted to save on the fees because last week there was a fee spike.

[Saint-loup]

That's a really weird experience, it's the first time I read that. But what I don't understand is how did they know the deposit address was belonging to a gambling site? Usually one address is at least generated for each account. So they have no way to guess that fresh address belongs to a gambling site. For me the issue was not related to the nature of the business of the recipient.

I'm not sure if most gambling sites still does this but I know a couple of sites like cloudbet sends all of the deposits they receive in their hot wallet and there are others that wait for the transactions to accumulate before they consolidate it as a way to save fees.

I'm sorry but I don't fully understand what you mean. Even if Cloudbet sends deposits to a cold wallet or another hot wallet, it can only do this after the funds have been received. So when the user sends his funds from the exchange, the exchange doesn't know yet that the funds will be transferred later to a known wallet belonging to a casino. From the exchange point of view, the address looks like any common wallet address when the user makes a withdrawal to his gambling account. 

[pilosopotasyo]

That's a really weird experience, it's the first time I read that. But what I don't understand is how did they know the deposit address was belonging to a gambling site? Usually one address is at least generated for each account. So they have no way to guess that fresh address belongs to a gambling site. For me the issue was not related to the nature of the business of the recipient.

Thye are good at tracing addresses I experience sending a small amount of Tron just to test it to my local exchange from one gambling site I'm playing and it never arrives and the support of the local exchange explained that all funds coming from gambling sites will not be credited, so fortunate that I did not send a huge amount, so better check your exchange's policy about deposit and withdrawal, it will save your funds.

[Oneandpure]

That's a really weird experience, it's the first time I read that. But what I don't understand is how did they know the deposit address was belonging to a gambling site? Usually one address is at least generated for each account. So they have no way to guess that fresh address belongs to a gambling site. For me the issue was not related to the nature of the business of the recipient.

Thye are good at tracing addresses I experience sending a small amount of Tron just to test it to my local exchange from one gambling site I'm playing and it never arrives and the support of the local exchange explained that all funds coming from gambling sites will not be credited, so fortunate that I did not send a huge amount, so better check your exchange's policy about deposit and withdrawal, it will save your funds.

I think not any problem when withdraw with small amount, its not trouble about withdraw to gambling site or not just happen because withdraw with bigger amount, almost exchange market want to make limited withdraw your fund and hope you hold assets on their exchange market.

[Saint-loup]

That's a really weird experience, it's the first time I read that. But what I don't understand is how did they know the deposit address was belonging to a gambling site? Usually one address is at least generated for each account. So they have no way to guess that fresh address belongs to a gambling site. For me the issue was not related to the nature of the business of the recipient.

Thye are good at tracing addresses I experience sending a small amount of Tron just to test it to my local exchange from one gambling site I'm playing and it never arrives and the support of the local exchange explained that all funds coming from gambling sites will not be credited, so fortunate that I did not send a huge amount, so better check your exchange's policy about deposit and withdrawal, it will save your funds.

Yes in this direction, from the online casino to the exchange, I agree it's feasible for the exchange to check the previous addresses of the funds and to spot a known cold/hot wallet of the casino, but in the other way, from the exchange to the gambling site it's not possible for the exchange to know if the recipient address belongs to a casino, except if the address is a hot wallet of course.
Besides, I'm really shocked to hear of exchanges doing this kind of things, if they are worse than the banks, cryptos will never be adopted by the people.

[ralle14]

I'm sorry but I don't fully understand what you mean. Even if Cloudbet sends deposits to a cold wallet or another hot wallet, it can only do this after the funds have been received. So when the user sends his funds from the exchange, the exchange doesn't know yet that the funds will be transferred later to a known wallet belonging to a casino. From the exchange point of view, the address looks like any common wallet address when the user makes a withdrawal to his gambling account.  

That's the thing, exchanges can't tell right away that those addresses come from casinos that's why these punishments take a while before they're handed out to their users. (that's what happened from my experience)

My point is similar to what pilosopotasyo said, gambling transactions can be traced by exchanges but it takes time for them to confirm those transactions.

[crzy]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

[Fundamentals Of]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

KYC is not the answer. It is a different thing altogether. If the exchange does not allow deposits from gambling sites or withdrawals to gambling site wallets, then they are simply not allowed. Whether you have undergone KYC or not, actions will be done to your account once it is discovered that you are involved in prohibited transactions.

The amount does not matter either. What's not allowed is not allowed regardless of the amount.

[romero121]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

KYC is not the answer. It is a different thing altogether. If the exchange does not allow deposits from gambling sites or withdrawals to gambling site wallets, then they are simply not allowed. Whether you have undergone KYC or not, actions will be done to your account once it is discovered that you are involved in prohibited transactions.

The amount does not matter either. What's not allowed is not allowed regardless of the amount.

Yes, regardless of the amount will be the terms of the exchange. Here they accept deposit from a gambling website, but they won't allow withdrawal to gambling site. It doesn't look like a prohibited transaction, because they're accepting deposits and are against withdrawal.

[Fundamentals Of]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

KYC is not the answer. It is a different thing altogether. If the exchange does not allow deposits from gambling sites or withdrawals to gambling site wallets, then they are simply not allowed. Whether you have undergone KYC or not, actions will be done to your account once it is discovered that you are involved in prohibited transactions.

The amount does not matter either. What's not allowed is not allowed regardless of the amount.

Yes, regardless of the amount will be the terms of the exchange. Here they accept deposit from a gambling website, but they won't allow withdrawal to gambling site. It doesn't look like a prohibited transaction, because they're accepting deposits and are against withdrawal.

Really? Now this becomes a curious case to me as well. Usually, if a site does not accept funds involved in gambling, that means both deposits and withdrawals are not allowed. So I think you are correct that this particular transaction is really not a prohibited transaction as per the site's terms of service. There must be something else. I hope this is not a way for the site to randomly block funds from getting out.

Did the exchange already respond to your communication?

[ethereumhunter]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

Maybe we can try for a small amount first to see if there will be a problem or not. And if no problem at all, we can continue to withdraw for another amount, but it will better if we do not withdraw for big money at once because the casino will check the account first before they let the process continue. As long as we can follow the rule and not break it, we will be okay.

[Bitinity]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

Maybe we can try for a small amount first to see if there will be a problem or not. And if no problem at all, we can continue to withdraw for another amount, but it will better if we do not withdraw for big money at once because the casino will check the account first before they let the process continue. As long as we can follow the rule and not break it, we will be okay.

Better to check the terms of the exchange instead of trying it with small amount. KYC is also has nothing to do with the terms of the exchange imho. If an exchange is against gambling activity, even if we have done KYC on both the casino and exchange then it will be a problem if we force ourselves to withdraw/deposit in exchange for gambling activity since terms is terms. It is even better if we do not do direct transfer from gambling site into exchange or vice versa. Using personal wallet is the best option.

[Silberman]

To trace who owns the funds withdrawn from the casino is unrealistic, so to avoid possible problems with regulators, many exchangers simply do not accept deposits from casino addresses. I think this is normal practice since casino withdrawal system can be compared to cryptocurrency mixer.

This is what exchanges do not want to happen, they don't want to be considered as a mixer so they have these terms or regulations that they do not want to have anything to do with gambling sites, so just follow their advice so you and your exchange will not get into trouble against regulators, they are also under strict regulation and they do not have full control of their decision and action.

That is their main reason why they do not want to accept payments coming from casinos, years ago before casinos changed their policies hackers used casinos to send their dirty coins and then withdraw immediately getting clean coins in the process, then they sent those coins to an exchange and did whatever they wanted, casinos took their own measures, now if you want to withdraw your coins you need to bet your capital several times there before you do so reducing the chances someone wants to use them as a mixer.

[carlfebz2]

To trace who owns the funds withdrawn from the casino is unrealistic, so to avoid possible problems with regulators, many exchangers simply do not accept deposits from casino addresses. I think this is normal practice since casino withdrawal system can be compared to cryptocurrency mixer.

This is what exchanges do not want to happen, they don't want to be considered as a mixer so they have these terms or regulations that they do not want to have anything to do with gambling sites, so just follow their advice so you and your exchange will not get into trouble against regulators, they are also under strict regulation and they do not have full control of their decision and action.

That is their main reason why they do not want to accept payments coming from casinos, years ago before casinos changed their policies hackers used casinos to send their dirty coins and then withdraw immediately getting clean coins in the process, then they sent those coins to an exchange and did whatever they wanted, casinos took their own measures, now if you want to withdraw your coins you need to bet your capital several times there before you do so reducing the chances someone wants to use them as a mixer.

They are fully aware with that and thats one of the main reasons on why they do set out those rules or terms that gambling funds shouldnt really be credited into someones account
specially if it do came from gambling and once get caught then you would surely be having a headache later on when they do caught you.

Exchangers are very keen when it comes to the origin of funds and since these platforms are regulated then they would really be restricting on whats been set.

So if you dont like to have problems then better to follow on whats been prohibited so that everything would go smooth.There are various ways on depositing into an exchange
without directly came from your gambling account.

[STT]

I guess OP wanted to save on the fees because last week there was a fee spike.

Ideally the casino themselves will allow different coins to be withdrawn and deposited, they can take a fee for exchanging but thats far more convenient and helps avoids all the fee congestion nonsense blocking free movement.
  I think the ideal is always going to be peer to peer especially where people want to cash out to FIAT and it complicates matters regarding all the national borders and differing rules on whether you are allow to freely exchange property or value.    Various forms of escrow might be the best development that occurs going forward ideally, rather then hoping the world of centralized processing and FIAT is going to mesh well with crypto.

[Saint-loup]

To trace who owns the funds withdrawn from the casino is unrealistic, so to avoid possible problems with regulators, many exchangers simply do not accept deposits from casino addresses. I think this is normal practice since casino withdrawal system can be compared to cryptocurrency mixer.

This is what exchanges do not want to happen, they don't want to be considered as a mixer so they have these terms or regulations that they do not want to have anything to do with gambling sites, so just follow their advice so you and your exchange will not get into trouble against regulators, they are also under strict regulation and they do not have full control of their decision and action.

That is their main reason why they do not want to accept payments coming from casinos, years ago before casinos changed their policies hackers used casinos to send their dirty coins and then withdraw immediately getting clean coins in the process, then they sent those coins to an exchange and did whatever they wanted, casinos took their own measures, now if you want to withdraw your coins you need to bet your capital several times there before you do so reducing the chances someone wants to use them as a mixer.

  On which casino did you see that please? It's the first time I read that "casinos" require to wager your deposit funds "several times".
Usually this kind of requirements only apply to bonuses or give aways. I'm sorry but doing that without any clear warning before accepting deposits from the user is just a scam. If you wager several times your capital you risk losing everything.

[ethereumhunter]

Sometimes some exchanges Don't allow founds from different gambling site and they postponed withdrawal and deposit. Exchanges have some regulations and rules where exchanges don't permit gambling fund and liquidities.

If you done KYC on those gambling site or Exchange then I also believe that there should be no issue on that, not unless you violate the rules and regulations of that gambling site or that exchange. I've tried withdrawing from duelbits to exchange and the transactions gone smoothly, this is kinda rare and maybe also depend on how much is your withdrawal, better to contact the support to confirm your problem.

Maybe we can try for a small amount first to see if there will be a problem or not. And if no problem at all, we can continue to withdraw for another amount, but it will better if we do not withdraw for big money at once because the casino will check the account first before they let the process continue. As long as we can follow the rule and not break it, we will be okay.

Better to check the terms of the exchange instead of trying it with small amount. KYC is also has nothing to do with the terms of the exchange imho. If an exchange is against gambling activity, even if we have done KYC on both the casino and exchange then it will be a problem if we force ourselves to withdraw/deposit in exchange for gambling activity since terms is terms. It is even better if we do not do direct transfer from gambling site into exchange or vice versa. Using personal wallet is the best option.

Maybe that is the first thing that a gambler before he sends the money to the exchange, but mostly, a gambler will check it later after he feels that site can make him comfortable withdrawing the money. We can not blame a gambler if they do not check the terms of exchange or a gambling site, but KYC in the exchange seems to need to do because most exchange now applied that rule. Besides using the personal wallet, they can use mixer services, which could help him avoid tracking from the exchanges.