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Author Topic: Crypto Gambling Licenses - What they actually mean  (Read 613 times)
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July 01, 2021, 11:05:03 AM
 #81

What kind of protection if one of the biggest gambling casinos are openly scamming players, they are boasting that they have, a license but unfortunately there are so many scam reports and accusations in the scam section I'm talking about 1XBIT and their affiliates, they are making the license thing useless because they are not offering any kind of protection.
Yeah, that's not clear at all.  Yes, it does have a license to operate but is it regulated?  Or maybe they just have a license but it's not regulated.  What steps does a licensed provider take when a casino registered with their license has complaints about a scam?  Are they taking it back or is there taking action to help the gamblers involved who are having problems at the casino?  This is also what I want to know what kind of protection is provided?  Can you still say you are protected if you have been scammed?

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July 01, 2021, 12:00:34 PM
 #82

Aren't crypto gambling license a requirement for business to be on the good terms with the law? I mean I would likely to trust a online gambling house that has license than the one that doesn't have one because they are more likely to scam people and get away with it than the licensed ones.

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July 01, 2021, 10:29:13 PM
 #83

If you read all of my answers and replies above, you will know what I mean @ShowOff @Wexnident @iv4n. If you only read the only quoted sentence by @ShowOff, it will make you think differently from what I have said above. I have said several times that the platform with a license has started something more serious. however, it doesn't guarantee that the platform is legit. and other explanations above.
It also needs to be analyzed more than the only license.
That is why getting a license means that they have started with something more serious.
Although of course, the next, the platform itself, reputation, and also all features must be also analyzed.
Yeah, I also think so. Although it doesn't guarantee, at least, they start their beginning in a serious way. Because I am pretty sure that getting a license is not as easy enough. There must be some data, T&C, and also other requirements to be fulfilled, including money maybe to get the license.

However, once more, the license doesn't guarantee that the gambling site is legit. Before playing, we must also check and analyze the site at first, reading their T&C, and also if we are going to play, just ensure to try it first by a small amount, and try to withdraw.
But personally, I will prefer to choose a reputable and trusted gambling site.

R


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