Withdrawal/Deposit Issues

[jrrsparkles]

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?

Actually, I have seen this coinbase exchange since they will not allow deposits into their accounts from gambling sites, if you do then your account will be terminated but you can withdraw the funds to any address no matter where it belongs to but it may changed over time since I am not using it for very long time.

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[hahay]

Yes, some don't accept withdrawals to gambling sites but I'm not into that, just sometimes I'm careful about cases like this just don't want transactions to stagnate because of course it will be annoying. But even so, I don't think there are many exchanges that implement this system, so there are still many places for you to use other exchanges and that you have proven yourself but indeed, if you do that, of course you will lose even before betting.

[aysg76]

Most of the gamblers use decentralised exchanges for this purpose and P2P fund transfer due to such restrictions or use of mixers another option but it reduces the profits in the form of fees.Most of the exchange allow gambling funds to flow into your wallet but some have restrictions as per thier legal working which is mentioned in their FAQ or T&C which you can read at priority basis if you wish to do gambling with these exchanges.Use your own wallets for such bets instead which is more helpful to you.

[Mahanton]

Yes, some don't accept withdrawals to gambling sites but I'm not into that, just sometimes I'm careful about cases like this just don't want transactions to stagnate because of course it will be annoying. But even so, I don't think there are many exchanges that implement this system, so there are still many places for you to use other exchanges and that you have proven yourself but indeed, if you do that, of course you will lose even before betting.

Dont really like to be put up into that kind of situation on where you are stagnate because of the mistakes that you had done even though you are aware or bit common when it comes to site terms.
If we are aware then why would really tend to go or proceed? This would just be a hassle if you get caught. Exchange platforms are really that prohibiting those gambling funds
to be funded or credited into their site since there are laws which these platforms had been following and its just right that they would need to comply.

[Silberman]

Yes, some don't accept withdrawals to gambling sites but I'm not into that, just sometimes I'm careful about cases like this just don't want transactions to stagnate because of course it will be annoying. But even so, I don't think there are many exchanges that implement this system, so there are still many places for you to use other exchanges and that you have proven yourself but indeed, if you do that, of course you will lose even before betting.

You are correct when you say that not every single exchange implements this system but there are exchanges that do which is why it is important to always read the terms and conditions of exchanges and gambling platforms so you do not get surprised by their behavior, in fact a great deal of the scam accusations that we see in the forum come from people that did not read those conditions and they believe they are being scammed when they in fact accepted what is happening to them and they are the ones at fault for causing the situation on the first pace and by being ignorant about it.

[Vaskiy]

I'm not sure about it, but there are some trusted wallets like trust wallet that can be used to store any cryptocurrency. The wallet is simple to use and I don't think it has got restrictions with withdrawal and deposit. What's been discussed here is about the exchange, but if you're in need of using that particular exchange then you can either choose another exchange or you can use a wallet in between and make the transaction.

[BlackFor3st]

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've been doing this multiple times from exchange to gambling site but I haven't noticed any changes on my account, may I ask what exchange site you are using when you experience this? It's really a bit alarming that they exchange site were aware where you are withdrawing your money.

[famososMuertos]

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There are several casinos who demand a 1x before removing, others do not demand anything but if you deposit $ 20 they ask for a minimum withdrawal of $ 40 for example.

They are not all the casinos, but if it is a practical quite common that the withdrawal is greater than the deposit.

[RealMalatesta]

There are several casinos who demand a 1x before removing, others do not demand anything but if you deposit $ 20 they ask for a minimum withdrawal of $ 40 for example.

They are not all the casinos, but if it is a practical quite common that the withdrawal is greater than the deposit.

That's right and last time I deposited at sportsbet.io and withdrew immediately, I got a message that I must wager 1x before withdrawing and I fully understand why they require us to do that. Sportsbet pays the transaction fee and hence makes sense for them to require the user wager before withdrawing otherwise players might use the gambling platform as a wallet.

Bitsler has a 15% deposit wager requirement before withdrawing or you are asked to do your KYC. At stake, I don't know if such rules are in place but occasionally they put withdraw to pending when you deposit and withdraw without playing at all. There are many reasons these casinos are forced to do this, one of them is the money laundering risk.

[goinmerry]

At stake, I don't know if such rules are in place but occasionally they put withdraw to pending when you deposit and withdraw without playing at all.

Just to clarify, are you talking about terms on first deposits?

Not sure but I think Stake doesn't have terms like that. New to the site, already got deposit but didn't try to withdraw there yet.

I'm not sure about it, but there are some trusted wallets like trust wallet that can be used to store any cryptocurrency. The wallet is simple to use and I don't think it has got restrictions with withdrawal and deposit.

What they are after is a direct transaction with an exchange wallet so that no need to send it first thru other wallets (like Trustwallet) to save fees and converting or withdrawing it to cash will be easy. Less hassle but sometimes, as they say, transactions are tagged as suspicious if come from gambling sites although I didn't experience it yet even there are several times already I made a transaction between exchanges and gambling sites.