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.

[Fortify]

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 is a very slippery slope for exchanges to go down and might earn them a bad reputation. Which exchange and gambling site were involved if you don't mind sharing? Maybe you can avoid this in future by receiving the funds to a wallet you control via bitcoin core and forward it on from there. Bit of a hassle and unnecessary expense, think I'd start looking for another exchange or maybe try to find a gambling site that uses unique wallet addresses so the exchange will not be able to determine the source of funds. I understand that they may be trying to stop money laundering but let's hope this does not become common practice, if gambling is legal in your country then they have no business interfering.

[dunfida]

Majority of exchangers does have these kind of terms on where funds that came from gambling is really prohibited and once they had traced or know about it then you would really be experiencing problems.

Also on the thing you had said about these exchangers shouldnt really accept funds in the first place then its really hard to filter out and there are things to consider
when they are really that trying to ban or restrict possible gambling site addresses or simply it does really involved a lot of work.
So as a user then you should really be aware with the terms if you dont like to experience some headache later on.

[panjul07]

You should check the terms of the exchange you use for your gambling activity.
It reminds me to coinbase, if I remember it correctly coinbase was against gambling activity but I'm not sure about the current situation.
There is also someone here in my country, using a local exchange to receive his money from a gambling site but getting an issue with it.
From this case, we can say that some exchanges are not friendly to gambling activity and some others are friendly enough.

[Oilacris]

You should check the terms of the exchange you use for your gambling activity.
It reminds me to coinbase, if I remember it correctly coinbase was against gambling activity but I'm not sure about the current situation.
There is also someone here in my country, using a local exchange to receive his money from a gambling site but getting an issue with it.
From this case, we can say that some exchanges are not friendly to gambling activity and some others are friendly enough.

Friendly enough or havent been detected nor being caught yet thats why they do still able to make use of the platform in spite of using it as a medium of your gambling earnings or transfers.

So far i dont have any problems on sending out my funds came from  local exchange wallet which is totally been prohibiting gambling funds but still in luck that they havent
noticed or giving me out some warning about that.

Im bit sure that there are lots who had been doing the same behavior which it might really be that time consuming on dissecting or finding it one by one unless
if theyre good enough on tracing out to those who violate.

[famososMuertos]

First of all thanks for your topic, I just had the idea but my concern has a place in its subject

In my case I have seen the withdrawal situation only.

I do make the withdrawal, it takes a few hours, in my case 36 hours to find out that the withdrawal was reversed and returned to my wallet. Now the situation here is complex, first so many hours can bring you the inconvenience that when it finally arrives it turns out that due to volatility your deposit is another and on the other hand support far from telling the truth keeps you in expectation.

In my case, I have seen these two situations with two casinos:
Maintenance or Problems with the Wallets.

[Twentyonepaylots]

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.

[Ryker1]

Well, thank you for sharing this and it will perhaps many gamblers will avoid those possible troubles in the future because they know that gambling sites and exchangers sites are not friendly. But first, you should read first the TOS, ^{[as always]} to know that the exchange will accept funds from the gambling site. But I think this is a very common issue when you transfer the fund from the non-KYC to the required KYC website. Because they have KYC/AML implementation and avoid money laundering, that is the reason they are freezing money that comes from the gambling site to avoid possible money laundering.

[robelneo]

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.

Thye really should not accept deposits coming from gambling site if that is the case I have similar experiences just lucky that it's not a big amount, I withdraw Tron from one gambling site I'm playing to one of our local exchanges and it never arrives I have deposit a hundred times to this local exchange before and this is the only deposit that did not arrive I just found later that they are not accepting direct deposit from a gambling site, but there was no mention on their TOS, I end up transferring it first to my desktop wallet before depositing it to that exchange.
So if you are making a deposit or withdrawal to gambling or coming from a gambling site make a test first.

[magneto]

Yeah, absolutely. This is one problem with using custodial wallets/exchanges with your gambling funds.

I've personally never had issues with Coinbase, but I've heard a ton of horror stories of people who deposited funds there from gambling winnings that led to the ultimate suspension of their account. They seem to be getting better at tracing transactions back to known dice sites and sportsbook wallets.

I don't think that it's too much of an issue per se if you just do it once, but if you are planning on withdrawing large winnings regularly and you need to maintain access to these withdrawals, then definitely use a wallet that you hold the private keys to (which you should be doing anyhow).

[blockman]

They have rules that funds won't be coming from and coming to gambling sites. That's why you should take note on that and I've been also told by the exchange that they know that the funds came from a casino and that can lead to my account closure if they happen to detect it again.
If you're going to have it send to an exchange, you should transfer it first to a wallet or just use a mixer so that the exchange won't know it anymore that you're sending from and to a casino.

[AmoreJaz]

Yeah, absolutely. This is one problem with using custodial wallets/exchanges with your gambling funds.

I've personally never had issues with Coinbase, but I've heard a ton of horror stories of people who deposited funds there from gambling winnings that led to the ultimate suspension of their account. They seem to be getting better at tracing transactions back to known dice sites and sportsbook wallets.

I don't think that it's too much of an issue per se if you just do it once, but if you are planning on withdrawing large winnings regularly and you need to maintain access to these withdrawals, then definitely use a wallet that you hold the private keys to (which you should be doing anyhow).

one easy way is send your funds from the gambling website to your electrum wallet, and then, just send it to the exchange. i don't think they will trace back where your funds is coming from your wallet itself. that's a lot of work to do from the exchange's end. also, check the ToS of the exchange, in terms of gambling related restrictions. if they specify clearly that they are not accepting deposits from online gambling sites, then, look for other exchanges that are lose in this aspect, a lot of them don't care anyway where your funds are coming from especially those with no kyc requirements.

[Lorence.xD]

That's a pretty strange thing to happen, I don't think that it is within an exchange to do this kind of thing unless you have some innocent but they saw it as a suspicious activity. Exchanges do be like that sometimes and to answer your question, no I haven't experienced it back when I was still gambling.

[rhomelmabini]

Haven't done it before but I think the exchanges are just taking an extra caution regarding AML policies. Some known exchange or likely most especially CEXs do that since most of them are a registered entity. Try to reach out the support so you'll know the information on what it was stopped.

[Wexnident]

Are you 100% sure that the withdrawal issue came from you sending your funds to a gambling site? Granted that you were able to send it to another exchange, but that was after the support team saw the problem. Probably just me missing a few details but that's what I understood from your explanation anyway. Try asking support what the issue was exactly, it may just be on their side or something. I hardly doubt that exchanges would ban transactions to gambling sites since they aren't even government-controlled in the first place, why would they even care.

[Lakai01]

I hardly doubt that exchanges would ban transactions to gambling sites since they aren't even government-controlled in the first place, why would they even care.

I see it exactly the same way, why should they? The exchange is not responsible for where the user transfers their coins to, nor is transferring an amount to a gambling site illegal. So I am 100% sure that this is a misunderstanding.
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.

Without an exact information of the support why the withdrawal was held back we will not find a solution here and can only speculate.

[Beparanf]

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 depends on the exchange ToS because they are just following regulatory guidelines. Some local base exchange tends to have this rules on there terms since the government are strictly against online gambling just like in my country. If you can name the exchange you are referring, Maybe we can help you to verify if they are really doing that legally or not.

[virasisog]

It depends on the exchange's TOS. It is not just exchanges even out local wallet doesn't accept withdrawal and deposits from gamblibg sites or your account will be frozen. That is why reading through the TOS is very important if you don't want any problem with your funds or accounts.

[swogerino]

It depends on the exchange's TOS. It is not just exchanges even out local wallet doesn't accept withdrawal and deposits from gamblibg sites or your account will be frozen. That is why reading through the TOS is very important if you don't want any problem with your funds or accounts.

I think you mean third party wallets like Coinbase,Blockchain.com and other web wallets.Local wallets are desktop wallets,software that you own on your computer and they accept any transaction you do.I have deposited from the gambling sites to an exchange some time ago and everything went correctly,probably it depends on the exchange.I think few of them do not accept deposits from gambling websites.

[ralle14]

I've experienced a similar issue where my exchange account lost all its transaction limits, eventually they reached out to me but they didn't mention the exact reason and I had to check all of my transactions until I found that one old transaction which came from a gambling site. After that experience i've been very careful with my transaction and always assume every exchange have these rules and just like everyone else my solution to this is to use a non custodial wallet. 

On the second exchange you're using you could get away with it now but from here on out you could also be at risk of losing your account if you're not paying attention to the terms and conditions.