Regulations & Gambling projects

[LUCKMCFLY]

There's nothing happening with gambling projects if crypto will be regulated. Im sure that the regulation will be putting its focus into the taxation for crypto users and AML. The gambling platform just need to follow what will be did by regulators. It's quite easy to follow the regulation.
I think this will not become a serious problem for the platforms that are also supporting the crypto.

at some countries that gambling platform suspend especially from muslim countries , of course it will be serious problem , by regulation their position become more weaker. government and another stake holder that rellated with gambling statue will directly cut all access to this site. but for countries that allowed gambling platform , by this regulation they will parallely adopt bitcoin and also have legal standing.

but it is understandable though we also knew that not all of their people truly follows the suspension instead they are doing other ways just to gamble so meaning regulating is not 100% implemented.
but indeed that regulating some projects will add flavor to the strictness of each government and business owner needs to comply or at least deal with this closely .
as also we knew that there are lots of abuse from gambling businesses  nowadays.

Well there is something that not everyone manages, and that is that the regulations are generally always in favor of making some kind of agreement with the government in power, it is nothing more, the business model is there and wants to develop, but the governments in part they understand and want to be proposed, others do not want anything because they want to be the only ones to always have control and those are the governments that are wrong, that is something and a behavior that is always seen, it cannot be avoided, for example Of course it's Venezuela, it's a country that always has its government with its hand in everything, and I think that people have already got used to it, and there you can't do anything else but make deals with them first, because that's the only way so that they can enter well.

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.

AFAIK, regulations are made to improve the service of the casinos and of course to strengthen the security of the gamblers. So if those casinos have their hidden agendas towards their players, most likely their games are rigged or whatsoever, then they will surely be affected by those strict rules and regulations imposed by the government. However, for most of the reputable casinos that are strictly following the rules, I don’t think they’ll be affected by it as it could mean they will build more trust from the gamblers themselves.

Well that is why the casinos that are more reliable and reputable are the ones that we should always have faith that when they ask for KYC it is for something related to security, there are new casinos that require KYC, and well they may be authentic casinos, but that does to think that one is just getting to know the casino and that it may or may not lend itself to rigged games or something, I am not one to think badly about a casino, but you always have to be careful, most new casinos do not know how much effort they have made to be able to launch them, and they just want to have everything under the regulation that is required of them, in the same way you have to be careful and very preventive.

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 personally do not see crypto regulation affecting gambling sites or online casinos in any way, I compare crypto casinos to crypto exchanges, if regulations will not make crypto exchanges to go out of business, then why would it be different for gambling sites?
I am talking about the reputable ones and not those waiting to scam their users...
All that there is to this is to make sure to choose a reputable online casino(s) and never bother or disturb yourself of what might happen to your funds when regulation hits the crypto industry.

The thing is, people with ill intention of hiding their money and get away from their financial obligation to government use crypto platform to launder money.  They use the guise of decentralization and influence others to make believe that it is the right of a citizen to evade taxes  .

You are absolutely correct bud, this is one of the reasons why I don't give much attention to peeps who complain about casinos requesting kyc verification, though most of this peeps won't tell you they are trying to evade tax by not passing kyc, but when we deeply look into their reasons for not wanting to submit their documents for verification, it's easy to discover that tax evasion is one of them.

True, if we are worried about our information getting leaked, we must choose reputable casinos and comply to whatever requirements they need in order for us to use their services.

Exactly my point, it was and is never mandatory to jump from one casino to the other, if a user hates giving his or her documents to casinos for verification, then just choose one or two that is reputable and stick to them and their service, rather than being a user of multiple casinos and complain when they ask for kyc verification before they allow the user to withdraw his or her huge winnings.

Well, I think that this is a very common practice, I have seen that in many countries they try to do the same practice, I cannot see that in the country that I live in, which is a country that is full of many corrupt politicians that I accept that people want to evade taxes and they achieve it, even accountants know how to do it, but they do it because of the theft that governments do to people and how bad they can do and have.

This practice is not good, evading taxes does not seem like a good thing to me, the corresponding requirements must be met, on the other hand, in crypto they should not even demand taxes, but hey, that's another topic.

[Coin_trader]

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.

AFAIK, regulations are made to improve the service of the casinos and of course to strengthen the security of the gamblers. So if those casinos have their hidden agendas towards their players, most likely their games are rigged or whatsoever, then they will surely be affected by those strict rules and regulations imposed by the government. However, for most of the reputable casinos that are strictly following the rules, I don’t think they’ll be affected by it as it could mean they will build more trust from the gamblers themselves.

To be clear. Regulations is imposed so that casino and its consumers will surely following the law while operating and playing in the casino. This includes making sure that customers is not doing money laundering and at the same time to make sure that casino doing a fair service that safe for its consumer. Also tax is the number one agenda for this regulation. Regulators just want to make sure that no one is using the casino to dodge taxes that illegally operating on certain country which there license has no power on that country jurisdiction.

Regulation has a very wide range of purpose and benefit but they are just imposed to protect consumers and make that casino is paying taxes properly.

[FatFork]

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 personally do not see crypto regulation affecting gambling sites or online casinos in any way, I compare crypto casinos to crypto exchanges, if regulations will not make crypto exchanges to go out of business, then why would it be different for gambling sites?
I am talking about the reputable ones and not those waiting to scam their users...
All that there is to this is to make sure to choose a reputable online casino(s) and never bother or disturb yourself of what might happen to your funds when regulation hits the crypto industry.

The thing is, people with ill intention of hiding their money and get away from their financial obligation to government use crypto platform to launder money.  They use the guise of decentralization and influence others to make believe that it is the right of a citizen to evade taxes  .

You are absolutely correct bud, this is one of the reasons why I don't give much attention to peeps who complain about casinos requesting kyc verification, though most of this peeps won't tell you they are trying to evade tax by not passing kyc, but when we deeply look into their reasons for not wanting to submit their documents for verification, it's easy to discover that tax evasion is one of them.

Tax evasion? Maybe. But I still believe that majority of people don't like KYC/AML in crypto casinos because they simply don't trust them with their personal data and they worry about their privacy in the first place. Hardly anyone likes to give information about him/herself to online services. And even less people trust their data is safe with an online casino an exchange. And there's nothing wrong with that. We all want our privacy to be protected. From a legal standpoint, KYC/AML laws are supposed to be beneficial for customers and businesses. But as we have seen in the cryptocurrency world the question of privacy tends to be quite divisive. Some people say that KYC is essential for preventing fraud and crime in the space, while others believe that it only serves to discourage businesses and drive out the legitimate users.

True, if we are worried about our information getting leaked, we must choose reputable casinos and comply to whatever requirements they need in order for us to use their services.

Exactly my point, it was and is never mandatory to jump from one casino to the other, if a user hates giving his or her documents to casinos for verification, then just choose one or two that is reputable and stick to them and their service, rather than being a user of multiple casinos and complain when they ask for kyc verification before they allow the user to withdraw his or her huge winnings.

I definitely agree. When we talk about reputable companies, I think that they constantly update their security systems and make them more secure. They do this because when people have faith in your brand, they're more likely to trust you with their personal data. The more secure your systems are, the less likely it is for someone to hack them and steal information. As you pointed out, being a user of multiple casinos is risky because each one has a different level of security and the risk of leaking your data is significantly higher when you transact with multiple operators.

[Slow death]

When regulation takes a hit on crypto prob in few years from now what will happen to gambling projects like Roobet and others?

no doubt that crypto casinos will be forced to have licenses from credible countries and will have to be inspected and will no longer be anonymous, and this problem of a crypto casino scamming and then getting away with impunity will no longer happen often and the casino owner will be arrested when stealing people's money that's because the license will only be given after the casino fulfills many things like having the company headquarters, giving name and real address of the casino owner, they will pay tax and the government will force the casino to create guarantee fund in case cases of theft are detected at the casino, it will be dark times for casino owners.

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 project that says it is regulated is lying, but if it is in one of those countries like El Salvador where they legalized bitcoin, then it would be possible to be regulated and of course the regulation affects the gambling market that accepts cryptocurrencies, and that is inevitable what happens, just see that only with the implementation of KYC has already changed a lot, imagine then when they pass laws it will be worse

[aioc]

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.

If there's demand for gambling regulation that is because of players' protection and from scammers and money launderers conniving with casinos, so far there is no need right now because casinos are regulating themselves because they don't want to have bad feedback because bad feedbacks are what will make clients lose their profits, but we never know in the future, the authorities have managed to regulate some part of the Cryptocurrency industry, we never know if they will next target the Cryptocurrency casino.

[velzevul11]

Good or bad, there is a clear trend where the crypto casino industry is going. Casinos will continuously withdraw from an increasing number of jurisdictions that are strengthening their regulations. Licensing hubs with relaxed regulations will aim to strengthen regulations and that means ubiquitous KYC. Those casinos that will try to operate even without Curacao license ( cause Curacao will strengthen their regulations), will be losing quality game content and eventually, all tier 1 games will be removed from those sites. There are still likely to be big enough markets that will have a massive lag in regulation adoption and enforcement (India could be an example), so there will be some market. Big online casino operators will either diminish or shift towards FIAT regulated markets. Small ones will disappear or run on quite poor games mix, barely surviving, pure hit-and-run business.

It won't happen tomorrow, but maybe a year or maybe three, who knows... But not much longer than that

[paxmao]

With regulation you can play in different ways from the business perspective. You may choose to be fully compliant with most jurisdictions in which case you will have extra costs, your clients extra KYC and problems but overall you are quite safe from the legal point, however there is nothing preventing anyone from using a more open jurisdiction, at the risk of having problems with some authorities.

[electronicash]

crypto regulators is taking their time in passing a bill to put an end for the confusion of regulations. the regulators have been looking into crypto for a long time but have not really come up a final. and there are more government agencies now interested in regulating from SEC, FATF and then there is also IMF who suggested each country will have their own regulations.  this will take years while crypto companies are stealing funds from users like the casinos.

[Awaklara]

Physical casinos have been regulated by states for a long time. Therefore, crypto casinos need to be regulated too. I think there is nothing wrong with that. All crypto casinos will adjust to the new laws and it will have little effect on their profits.

it also means that the country has enacted regulations for the use and status of crypto in its country. it would be really funny if a country that doesn't regulate crypto suddenly enacted regulations for crypto casinos.
Thinking of taking tax money from a crypto casino that does have a sizable amount of finance.

now we have seen some big countries have also enacted regulations on crypto assets. whether it legalizes or becomes a risky asset. we can see the attitude of some countries toward the development of crypto assets. regulated crypto casino I think is pretty good.

[rodskee]

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.

If there's demand for gambling regulation that is because of players' protection and from scammers and money launderers conniving with casinos, so far there is no need right now because casinos are regulating themselves because they don't want to have bad feedback because bad feedbacks are what will make clients lose their profits, but we never know in the future, the authorities have managed to regulate some part of the Cryptocurrency industry, we never know if they will next target the Cryptocurrency casino.

but this is not about casinos regulating their but the government regulating them , in which maybe reasonable nowadays as we knew how money making happens in gambling world and yes this brings more profit from the team while players are suffering so taking some amount from their profit is not a bad Idea from the  government so i agree in this initiative if will be implemented correctly.

[Poker Player]

it also means that the country has enacted regulations for the use and status of crypto in its country. it would be really funny if a country that doesn't regulate crypto suddenly enacted regulations for crypto casinos.

I wouldn't see it as funny if they don't have a regulation on cryptocurrencies but one on gambling in general and/or online gambling.

Upcoming regulations on the subject are sure to affect the sector. If they are European style, what they will do is screw the business in exchange for the states being able to collect far less taxes than they could collect without screwing it up. With the regulation of fiat gambling it already happened, as in many European countries barriers were put in place only allowing national sites, where only people from the same country could gamble, thus compartmentalizing the market and screwing up the business.

[fathafraink]

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 the online gambling site actually doesn't want regulation of their online gambling site. However, regulation of them is inevitable. So they have to obey the rules that they have to follow from the regulators. Because I'm sure the site also feels this will reduce the sense of comfort for players on the website. If anyone wants to ask why there should be a regulation on the site, then the answer is "coffers of money".

[Cryptomiles1]

Does it mean if the main head office where gambling site is located is already regulated and it happens that my country does not regulates such gambling site does it mean i can't get access to site or what?
please throw more light to me. Because what i m trying to sense is that if the head office where the site is located does not regulated gamble or pay tax it might probably affected sub branches or limited to other countries.

[ethereumhunter]

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.

If there's demand for gambling regulation that is because of players' protection and from scammers and money launderers conniving with casinos, so far there is no need right now because casinos are regulating themselves because they don't want to have bad feedback because bad feedbacks are what will make clients lose their profits, but we never know in the future, the authorities have managed to regulate some part of the Cryptocurrency industry, we never know if they will next target the Cryptocurrency casino.

but this is not about casinos regulating their but the government regulating them , in which maybe reasonable nowadays as we knew how money making happens in gambling world and yes this brings more profit from the team while players are suffering so taking some amount from their profit is not a bad Idea from the  government so i agree in this initiative if will be implemented correctly.

Casinos that follow the rules of the government will surely face regulatory problems in their place and make the players feel uncomfortable playing at the casino. But the casino also can not do anything because of these rules and maybe from the casino, there will be a separate policy for its members. And now, casinos may have implemented those regulations by requiring players to comply with the new rules. And if players still feel uncomfortable, they will look for other casino sites that are not too strict in carrying out these rules.

[danadc]

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.

If there's demand for gambling regulation that is because of players' protection and from scammers and money launderers conniving with casinos, so far there is no need right now because casinos are regulating themselves because they don't want to have bad feedback because bad feedbacks are what will make clients lose their profits, but we never know in the future, the authorities have managed to regulate some part of the Cryptocurrency industry, we never know if they will next target the Cryptocurrency casino.

but this is not about casinos regulating their but the government regulating them , in which maybe reasonable nowadays as we knew how money making happens in gambling world and yes this brings more profit from the team while players are suffering so taking some amount from their profit is not a bad Idea from the  government so i agree in this initiative if will be implemented correctly.

Casinos that follow the rules of the government will surely face regulatory problems in their place and make the players feel uncomfortable playing at the casino. But the casino also can not do anything because of these rules and maybe from the casino, there will be a separate policy for its members. And now, casinos may have implemented those regulations by requiring players to comply with the new rules. And if players still feel uncomfortable, they will look for other casino sites that are not too strict in carrying out these rules.

As time goes by, casinos will go looking for a way to survive, and if they know that they have to be at the mercy of a government in order to survive, they will do so, and they can make all kinds of agreements, whether public or private, but this has What will you see with the profit of money, because if both can benefit they will do very lucrative businesses that everything can indicate that they have to do great things and thus they let the casinos work, if a casino turns against a government, what will it achieve it is that they disintegrate them, they do not give permission and they have to look for other countries, and leave those sides where there is a lot of demand for solo players.

[abel1337]

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but this is not about casinos regulating their but the government regulating them , in which maybe reasonable nowadays as we knew how money making happens in gambling world and yes this brings more profit from the team while players are suffering so taking some amount from their profit is not a bad Idea from the  government so i agree in this initiative if will be implemented correctly.

Casinos that follow the rules of the government will surely face regulatory problems in their place and make the players feel uncomfortable playing at the casino. But the casino also can not do anything because of these rules and maybe from the casino, there will be a separate policy for its members. And now, casinos may have implemented those regulations by requiring players to comply with the new rules. And if players still feel uncomfortable, they will look for other casino sites that are not too strict in carrying out these rules.

As time goes by, casinos will go looking for a way to survive, and if they know that they have to be at the mercy of a government in order to survive, they will do so, and they can make all kinds of agreements, whether public or private, but this has What will you see with the profit of money, because if both can benefit they will do very lucrative businesses that everything can indicate that they have to do great things and thus they let the casinos work, if a casino turns against a government, what will it achieve it is that they disintegrate them, they do not give permission and they have to look for other countries, and leave those sides where there is a lot of demand for solo players.

Once they comply, it means they accepted the fact that they will face some regulatory demands from the government. Reputable and big casinos now are regulated and there's a possibility that it could be a new normal for gamblers to do KYC and stuffs because of those regulations. Next generation casino could follow to these government regulations in the future since most casino now is regulated. Government could easily put them up into a bad spot if a casino refused to comply so yeah casinos are driven into a corner once they are being targeted by the government and forcing them up to be comply to their rules.

[agustina2]

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 those popular gambling sites here are already regulated. To make their business even more legit, complying with the regulation is a must.

Actually, as a user, we can't really feel much of this regulation except for the KYC part. But we don't have to worry as in most cases, KYC is just for big whales. That might be annoying for these big players but for us average players, nothing to worry about as long as we are not doing something unusual.

[DoublerHunter]

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 those popular gambling sites here are already regulated. To make their business even more legit, complying with the regulation is a must.

Actually, as a user, we can't really feel much of this regulation except for the KYC part. But we don't have to worry as in most cases, KYC is just for big whales. That might be annoying for these big players but for us average players, nothing to worry about as long as we are not doing something unusual.

^ The bolded line above was the most reason why gambling casino has started accepting KYC because more regulation means there is the legitimacy of the business. This is what I am talking about from my first reply on this thread, even though the gambling industry did not want this KYC process but since they are regulated in which jurisdiction they follow, they are oblique to conduct KYC to combat illegal activities as the government does and I think they are not alone with this, any related financial company or services should be done KYC to avoid such negative activities.

[Wiwo]

Ops you should ask yourself these simple questions, why do gambling sites ask for KYC what are the taxes paid by casinos, and how effective has government involvement been in gambling?
The answers to this question are simple and readily available with data on the web just a simple search will open you up to a.wide range of information that will enlighten you more.

[lionheart78]

Does it mean if the main head office where gambling site is located is already regulated and it happens that my country does not regulates such gambling site does it mean i can't get access to site or what?

Banning and regulating is two different action.  If the government does not regulate the online casino and  does not ban it, anyone from that country can access the gambling site.  If the government regulates and ban the online casino but does not order its country's internet provider to block the gambling site then everyone can still access it.  But if the government give a decree asking all the country's internet provider to block the ISP then the gambling site cannot be accessed by ordinary means of connection.  It can be accessed through some ISP bypassing applications such as TOR and VPN.

please throw more light to me. Because what i m trying to sense is that if the head office where the site is located does not regulated gamble or pay tax it might probably affected sub branches or limited to other countries.

The gambling company needs a license to operate, if they don't have that then they are subject to shutdown if the government started to regulate online gambling.