Regulations & Gambling projects

[Johnyz]

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.

He might want to hear our opinion with this and it’s fine.
Regulations will affect cryptomarket, it’s already started with gambling site since some of them already asking for a KYC and some gambler as well experienced already and being investigated with regards to their money and source of income. The regulations becomes more strict everyday, I can’t imagine the next restriction once we are able to attract many gamblers, mass adoption surely change the regulations and be forced to implement a maximum regulations.

[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.

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.

That means the casino must always follow the government's will and cannot refuse it because if they do, the casino cannot run its business properly. The government also tries to control the casinos with all its regulations and can use its powers if they don't comply. And even though both of them have agreed to follow the agreement, the casino is still at a disadvantage due to government regulations. This puts the casino in the middle between the government and the casino users. But as long as the casinos can comply with the government, their business will run well and maybe the government will also help them in the future.

[iv4n]

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 problem is we don't really know how these gambling websites handle our private informations because even if we don't do anything suspicious, they can still be use on illegal activities once it's in the hand of criminals. Even if they are reputable in this forum, we can't guarantee that our credentials are safe. Do we know if their database of our information is safe from hackers? Are our information not being sold yet on the black market? Things like these are what scares many people about this gambling regulation.

That's actually the reason why most gamblers doubt and fear the KYC. One of the reasons why gamblers would want to avoid KYC is to protect their personal data and information but if we really want to continue our gambling journey, we still have no choice but to comply with it. We have to take the risk if we want to continue playing. The best thing that we can do is just to trust a reputable casino site of our choice will protect our personal information.

There are enough reasons for doubt in KYC, and that doubt started before crypto... Crypto can/could solve that, but some people still think that governments are creating regulations "for our sake". I am not sure how many crypto casinos have accusations (proven or not) of doing suspicious stuff with player's info, but there's a nice list of data breaches around the world: List of data breaches! As we can see these things simply happen, even with the biggest names... poor security, hacks, lost or stolen media, and even "accidental publishing"! So KYC is simply not good... nobody can give any guarantee that your info will stay safe, in crypto or anywhere else!

[uneng]

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 problem is we don't really know how these gambling websites handle our private informations because even if we don't do anything suspicious, they can still be use on illegal activities once it's in the hand of criminals. Even if they are reputable in this forum, we can't guarantee that our credentials are safe. Do we know if their database of our information is safe from hackers? Are our information not being sold yet on the black market? Things like these are what scares many people about this gambling regulation.

Nothing connected to the internet is safe from hackers. Data can be leaked without any doubts, but in casinos' defense, I must say it is not an exclusive issue with them.

Even your government can leak your data through a malicious employee who have access to it and want to make some dirty money or through a common hacking attempt, depending the security level of your institutions.

Anyway, I don't bother with this issue very much. If someone is using my documents for criminal purposes, it is going to be investigated by authorities and they will find I have nothing to do with this, finally reaching to the guilty criminals after all. There isn't perfect crime, and someone using others' identities to practice their scam schemes is only buying time, what doesn't prevent them from inevitably being caught after a while.

[dothebeats]

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.

Only ever did KYC once on a casino, and it's mostly just basic info about me that will not be dangerous to give. I agree that most of the step two or three of KYC are reserved for the winners and the deep pockets, both of which most of us do not belong to. It may be the government's way of legalizing things on the gambling industry and keeping everything in check to prevent money laundering and other sorts of nefarious stuff from happening. Though of course these platforms that handle our data should also keep it safe from shady entities, and the gov't should impose a regulation regarding data privacy and safety, too.

[bocyaj]

Due to no regulation for the gambling sites,many fake gambling sites was origin in many countries with a legal Statement to the government.They start the sites without any license,it mean the transaction made by such fake gambling sites are not a monitor able one.People should need to check the gambling website license,even it allow you to play with out kyc .And allow no limit to deposit and withdraw of funds.Regulation of gambling website is essential one for sure.

[noormcs5]

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?

Gambling sites enforce KYC as they do not want that their platform to be used for some illegal's activities mainly related to money laundering.
However, in most part of the world gambling is not regulated and most of the regulations are for physical casinos. I don't think online casinos pay taxes to the government except for a few ones.

Online gambling casino is a highly unregulated businesses and the government should make laws to enforce complaints about these casinos. Once the casinos are recognized by the governments, it will be very difficult for that casino to scam people. So it is in the interest of gambling houses and gamblers to get these casinos regulated.

[Peanutswar]

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?

Gambling sites enforce KYC as they do not want that their platform to be used for some illegal's activities mainly related to money laundering.
However, in most part of the world gambling is not regulated and most of the regulations are for physical casinos. I don't think online casinos pay taxes to the government except for a few ones.

Online gambling casino is a highly unregulated businesses and the government should make laws to enforce complaints about these casinos. Once the casinos are recognized by the governments, it will be very difficult for that casino to scam people. So it is in the interest of gambling houses and gamblers to get these casinos regulated.

That's why it is better to play in just relatable and trusted gambling websites because KYC is a very important thing you could give to the different platform each information indicated in your ID can be used as identity theft as well with your face because of the technology today it is easier to commit a crime in the digital world. KYC requests most often if the casino sees something suspicious with your account activity

[bitterguy28]

Due to no regulation for the gambling sites,many fake gambling sites was origin in many countries with a legal Statement to the government.They start the sites without any license,it mean the transaction made by such fake gambling sites are not a monitor able one.People should need to check the gambling website license,even it allow you to play with out kyc .And allow no limit to deposit and withdraw of funds.Regulation of gambling website is essential one for sure.

actually what i can see in this? is those sites that tend to be scamming are just created by one person or team? this is why they completely knew about the ins and outs because they have been doing this for long time now and they need no Big capital just to operate and victimize then just drop the site to create new one?
this is how bad the non regulated gambling in online so maybe it is time now that each projects in gambling must be regulated.

[TimeTeller]

Due to no regulation for the gambling sites,many fake gambling sites was origin in many countries with a legal Statement to the government.They start the sites without any license,it mean the transaction made by such fake gambling sites are not a monitor able one.People should need to check the gambling website license,even it allow you to play with out kyc .And allow no limit to deposit and withdraw of funds.Regulation of gambling website is essential one for sure.

actually what i can see in this? is those sites that tend to be scamming are just created by one person or team? this is why they completely knew about the ins and outs because they have been doing this for long time now and they need no Big capital just to operate and victimize then just drop the site to create new one?
this is how bad the non regulated gambling in online so maybe it is time now that each projects in gambling must be regulated.

This is why if a gambler found this forum - and lurk around here in the gambling boards, he will at least avoid scam casinos.
That is if he will roam around the discussion threads and the gambling thread itself of the casino.
He will get the idea of how the casinos or bookies are operating their business, and as much as possible prevent himself from playing with existing complaints.
A casino may be regulated but it won't stop them from screwing up the player if they can find a loophole in the system.
But if the site can be found here, and has good reputation, being scammed would not be your problem.

[BobK71]

Due to no regulation for the gambling sites,many fake gambling sites was origin in many countries with a legal Statement to the government.They start the sites without any license,it mean the transaction made by such fake gambling sites are not a monitor able one.People should need to check the gambling website license,even it allow you to play with out kyc .And allow no limit to deposit and withdraw of funds.Regulation of gambling website is essential one for sure.

actually what i can see in this? is those sites that tend to be scamming are just created by one person or team? this is why they completely knew about the ins and outs because they have been doing this for long time now and they need no Big capital just to operate and victimize then just drop the site to create new one?
this is how bad the non regulated gambling in online so maybe it is time now that each projects in gambling must be regulated.

This is why if a gambler found this forum - and lurk around here in the gambling boards, he will at least avoid scam casinos.
That is if he will roam around the discussion threads and the gambling thread itself of the casino.

Gamblers or non-gamblers who are active on these forums and regularly know about the various sites will generally can assume about scam sites. Because they are able to get direct knowledge of active sites. Moreover, when the ANN thread is opened in the forum, a user gets enough support for the particular site. Anyone can get various information about any site which is not possible except out side of the forum. So I think this forum plays a very important role to know a casino.

[_act_]

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.

Yes, regulation is not a problem at all, crypto just helped more in payment. Making payment, both deposit and withdraw faster which is one of the reasons I prefer to use crypto for gambling.

But on the other hand, some people are gambling from where gambling is not legal, such people may want to bet using foreign sites and prefer no KYC, but I won't advice such because it is already stated on most of the gambling sites ToS that people from some named countries and places are not allowed to gamble on their site.

There is no problem that regulation poses, it is for AML and some other good reasons.

[Slow death]

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.

I believe that governments first need to create clear laws on cryptocurrencies and after they have created clear laws on cryptocurrencies they can pass laws on crypto casinos. to this day crypto casinos are licensed by curacao because they are less strict and have other advantages, but curacao does not inspect and much less interfere when someone is scammed at the casino, so with clear laws about cryptocurrencies in the future and clear laws about crypto casinos I believe that the governments of each country will issue more lenient licenses but with many conditions that casinos will have to fulfill and one of those conditions will undoubtedly be that casino owners will not be able to be anonymous, they will probably ask them to have some real physical address, probably governments have asked casinos to pay taxes and forced them to show how people's documents will be safe. there will be times when if a casino steals money from a customer then the casino owner is risking arrest

[EarnOnVictor]

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 hardly take the gambling regulation serious, I had bad experiences with such. Some may only be registered but would be claiming they are regulated, while some would not even be registered and regulated, but would be claiming otherwise. Even those that are duly regulated shouldn't be taken seriously unless you are sure that the regulator in their domicile countries is strict enough to be trusted.

A lot is happening online, one should be very careful, which is why many casino sites would try to avoid strict regulations.

[Yamifoud]

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.

That will certainly affect gambling and that only happens if strictly implemented by the authorities. But guess what, this will increase illegal gambling on the other side and this make hard to control once it started. I'd see a lot of gambling projects will tend to stop or collapse but this is not even good to look at as this will also stop people from working there.

It has a positive outcome but also it creates more on the negative side.

[Awaklara]

there will be times when if a casino steals money from a customer then the casino owner is risking arrest

the more cryptocurrency-based business sectors, I think the closer we get to see it happen. crypto casinos licensed by every government will be more controlled. so casinos that do not qualify for a license will be blocked by the government. if accessing it with a VPN was possible, I think the risk of the casino taking money from players would be something negligible.

Of course, there are pros and cons in this regard regarding the anonymity of the owners and players at the casino. of course, this can only be applied in countries that do implement gambling as a legal game.

[velzevul11]

there will be times when if a casino steals money from a customer then the casino owner is risking arrest

the more cryptocurrency-based business sectors, I think the closer we get to see it happen. crypto casinos licensed by every government will be more controlled. so casinos that do not qualify for a license will be blocked by the government. if accessing it with a VPN was possible, I think the risk of the casino taking money from players would be something negligible.

Of course, there are pros and cons in this regard regarding the anonymity of the owners and players at the casino. of course, this can only be applied in countries that do implement gambling as a legal game.

Something to remember though... if a local government regulates both crypto and gambling locally they will pose additional taxes and restrictions. For larger sums of money it will mean a source of wealth. Also, there will be taxes that are usually offset via lower odds in betting and lower RTP in slots. In many countries a part of player protection programs also severely restricts bonusing.

[qwertyup23]

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.

With toleration comes regulation by the government. Bearing this in mind, the government might implement some sort of taxing scheme where they could either tax your gambling winnings or the online gambling website itself. Expect these gambling websites to be more strict when it comes to KYC.

In the Philippines, our local exchange has become very stringent to the point that it asks for extra KYC documents in order to use their features. In addition, they can also lock your BTC wallet if they discover that you receive funds coming from an online gambling website.

With your question OP, expect that the TOS of these gambling websites to include certain prohibitions and regulations due to the implementation of the government of taxing laws.

[Viscore]

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.

It will not create a problem as long as the gambling casino is transparent and has no hidden reason on taking an advantage over their players. However, with a lot of regulations around, I guess casino operators will be more pressured and will have less chances to maximize their profits as government will always ask for their share like putting taxes on every deposit and withrawal made in the casinos.

[dunfida]

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.

It will not create a problem as long as the gambling casino is transparent and has no hidden reason on taking an advantage over their players. However, with a lot of regulations around, I guess casino operators will be more pressured and will have less chances to maximize their profits as government will always ask for their share like putting taxes on every deposit and withrawal made in the casinos.

Whenever you do build a business then expect that taxes would really be imposed or already automatically part of it which it would really be just typical or something normal.There's no way that you could avoid taxes

specially on business which do generate huge income or making huge revenue.When it comes to laws and regulations then expect that regulated or centralized platforms will really be following some sort of rules or

guidelines so that they would really be able to continue to operate and if not then expect on what would be the violations that will be imposed or something
that they need to pay off due into that violation which is something that they dont really like for it to happen.