Regulations & Gambling projects

[Z390]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

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[Oshosondy]

Governments are seeing income from tax in the countries or regions where gambling is legal, regulation can not be in a way a gambling site would be affected in a way they will not grow or not able to pay customers money's that are won. Just use a trustworthy gambling site and never bother yourself about regulation. Only what would be regulated are pertaining to restriction of under 18s and other illegal age for gambling, taken gamblng adverts away from public in places children can be exposed to it, money laundering and other things like that and nothing much more.

[dimonstration]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

This is inevitable but crypto casino and crypto user needs to adapt to survive on strict implementation of law by regulators. I remember this is also an issue on exchange but right now KYC is already accepted by users that want to trade and use exchange since it's already a mandatory requirements on most of the big exchange before user can trade.

Imo, gamblers on crypto become interested in crypto casino because of its convenience and not mainly due to privacy. Casino business will just continue even with KYC since gamblers have no choice or else they will come back on physical casino.

[seoincorporation]

It's a tricky question mate because the regulations are different on each country. And there is where things get weird because you can be USA and your server can be in India while your gambling license is in Curaçao. So, the question is what regulations are we talking about while your business base was created in 3 different countries.

I think in the future there will be a 'Internet Global Regulations and Normative', but right now is really tricky the way that gambling operates.

[Wiwo]

What you should be afraid of is centralized casinos that require you to drop your ID for verifications KYC has become one of the ways that regulator has access to the data of players that visit the casino, and if a casino is licensed means there are regulatory compliance there won't be a need for panic when regulators peep on the gambling market. Most importantly avoid playing in unlicensed casinos that way you protect your funds and identity.

[YOSHIE]

When regulation takes a hit on crypto prob in few years from now

You can't compare crypto regulations with gambling sites, gambling has been around for hundreds of years, during the roman emperors and ancient centuries, crypto was published in 2009, that's the point.

Crypto regulation has been tried by some developing countries like China, but they have not succeeded in managing the system or controlling and regulating crypto until now, crypto runs on its own without controlling it.

Conclusion: Crypto regulation/rules/gambling, it is a different method/system, the way it works is also different, the rules of all the rules that you want to do have no impact or effect on gambling sites like Robet, gambling sites can still change the system and rules, if they feel threatened, crypto is a new method applied to gambling sites, fiat still works any time, if they want to change it, so whatever the rules the gambling project wants to do it has no impact at all going forward or now.

[yahoo62278]

Once Governments start dipping their hands in the water, I think crypto gambling sites take a huge hit. By that I mean their profits are going to be cut in half. Casinos will likely run less promotions as they will have a smaller budget. The good thing most likely will be that government involvement might make the consumer feel safer(depending on the government) and feel a casino isn't rigged.

[Eureka_07]

<snip>

Assuming that the regulation on crypto would happen sooner or later, paying and operating crypto casino will be illegal without having a gambling license from a governing body like Curacao. The regulation will remove the confusion if playing and operating is illegal or not.
Also, I think a casino is already regulated if they have a gambling license, from your example, Roobet has license which means it is being regulated. The only difference is that, there is no regulation yet for crypto.

Crypto regulation also means tax can be implemented, cutting your winnings and casino profits.

[Porfirii]

Many have a license in Curaçao now: it seems that it is quite easy to get licensed there.

About prohibitions in the future, taking into account that some platforms are banning streamings showing betting with cryptos, it is also possible that in some jurisdictions traditional betting is allowed, but crypto-betting not. With or without licenses, from Curaçao or wherever. Time will tell.

[stomachgrowls]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

Depends!

We do see that majority of crypto casino nowadays does have licenses which does simply imply or means that they are really following some rules or regulation which they would really be implying out those rules
also into their terms and conditions which users should really be looking out.Any effects? If a casino would be sticking out on implementing strict KYC rules or requirement then
you would definitely seeing the number of users who do love anonymity would really be staying away on a certain site.
We do have sites today that doesnt ask out for any verification or personal info which you could still play anytime you do want.

[Hispo]

...anyway, can regulation affects gambling projects in future that's all I seek.

I think it is possible that regulation within the cryptocurrency ecosystem by some centralized powers and governments could affect casinos eventually, specially by the restrictions of what payment methods casinos would be allowed to implement or keep. Casinos could try to move their base of operations to other lands where regulations are not to hard against them,that would probably mean to lose an user base in countries like USA or Europe which are supposedly to most likely to enforce new and harsher rules.

Even though regulation could become an obstacle for gambling projects, there will be alternatives the people behind these may take to continue operating.

[goaldigger]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

They are already regulated and having a license is the proof for that. Though they may get that license easily but we are talking about good gambling site here and they also have the KYC so I think they are already complying with the regulators. Regulations can affect gambling projects, this may pressure them to implement KYC as much as possible and since many gamblers still don’t want KYC, tendency are they will look for the alternatives.

[acroman08]

just to be clear when you say "gambling project" you mean gambling casinos, right?

I don't know about "years from now" since, as far as I know, all casinos that have a license are already regulated, that includes Roobet.com and other casinos that have a license. are you perhaps talking about stricter regulations that gambling sites will have to follow? anyway, if you are thinking of gambling casinos will be affected by stricter regulation, yes, they will, but I don't the effect will necessarily be a bad thing.

[lionheart78]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

Definitely these centralized casinos will be forced to implement KYC for anti-money laundering.  They also need to have a license acknowledged by the government they want to setup their service.  Aside from that, I don't see any difference from what we are experiencing atm.

Having the government regulate gambling casino somehow bring more trust to the platform.  Having licenses means the people behind the gambling casino company owner is known.  This somehow prevents a gambling casino from scamming its player and disputes can be brought to court.

[rhomelmabini]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

I think it's on their mitigation plan to abide on those regulations so that they can secure their business in the future too. They are a huge gambling platform and for sure they know that regulations is the future too in terms for longevity. I think if they are licensed then they are also regulated.

[romero121]

Governments have big revenue from the gambling sites. Even if some policy change is done, it'll be done in such a way that the policy should not affect the income of the government. It is very rare to see policies and restrictions that stand as a barrier in the development of cryptocurrency accepted gambling platforms. Some countries have complete ban, but countries that have allowed won't make big restrictions.

[Piesel]

Government makes lots of money from taxes generated from casinos and that will make most governments reluctant on digging down casinos that is why there seems to be a free market that allows regulations to check underage gambling aside from that, most countries have flexible casino regulations.

But unless some other countries view gambling as an illegal activity and will have strict rules against casinos operation in their region, if that happens casinos' revenue will be greatly affected and some of the casinos will be forced to close down.

[BitDane]

Government makes lots of money from taxes generated from casinos and that will make most governments reluctant on digging down casinos that is why there seems to be a free market that allows regulations to check underage gambling aside from that, most countries have flexible casino regulations.

True government gets huge amount of money from casino tax.  Casino can even make a city prosperous we can see Macau, Las Vegas as an example.  I do not think government are reluctant on digging casinos, I think they just don't enough evidence to make them take action of digging.  Government need enough evidence and samples in order to act.

But unless some other countries view gambling as an illegal activity and will have strict rules against casinos operation in their region, if that happens casinos' revenue will be greatly affected and some of the casinos will be forced to close down.

If a country labeled gambling as illegal then obviously any casino that is operating on that country will be shut down.

For crypto casino, I think it had been long regulated since legit crypto casino have license to operate before they can offer their services.

[passwordnow]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others? I've discovered one gambling project claiming to be regulated but there is nothing to prove that, anyway, can regulation affects gambling projects in future that's all I seek.

They are already regulated by the government so, there's already the implementation of KYC on most of the casinos that are registered with their enterprise.
And if there's a bigger concern like as you're saying about being hit by the regulation and government, what more they can do? Ban it? Stop the business itself?
We don't know what type of hit can happen if they have it so. Whether there will be that type of regulation in the future that's going to hit them hardly because they're a crypto casino, they'll comply to whatever the government implements.

[robelneo]

It's a tricky question mate because the regulations are different on each country. And there is where things get weird because you can be USA and your server can be in India while your gambling license is in Curaçao. So, the question is what regulations are we talking about while your business base was created in 3 different countries.

I think in the future there will be a 'Internet Global Regulations and Normative', but right now is really tricky the way that gambling operates.

A billion-dollar industry with millions of people using these platforms the possibility will be there, these casinos can claim they are compliant but they are not really regulated it takes cooperation from countries for us to have global regulation but right now the only way you can be safe since you do not have an institutions or organizations to go through to make a complaint in case you have an accusation is to pick the right casino to play and follow and adheres to the rules and if you have a complaint, we have this forum to get both sides of the story.