A way to attract new users or a misunderstanding?

[Negotiation]

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

Let be honest here a casino can not act the function of government agencies in the control of scam related to money laundering when the AML agencies themselves couldn't control the overall challenges with scam related loots from exchanges, to an extent some of the KYC casinos also serve a little function of an exchange since you can deposit your money with them, exchange it for another currency as long as their site policy support it.

Many organizations that do not support KYC casinos but this AML organization will actively prevent money laundering and with it activities that facilitate money laundering or terrorist or criminal activities. To comply with AML, as per the applicable laws and therefore all officers, employees and engaged producers of this company must adhere to this standard so that its products and services are not used for money laundering purposes. The AML Committee's responsibility is to report suspicious activity to law enforcement or other required reporting to regulatory agencies.

[1715287233]

1715287233

[tusandii]

Yes, I also remember at that time when the Covid-19 pandemic was still very much in an uproar that swept across the world to the point where it actually caused economic and financial inflation where many people lost their jobs and sources of livelihood.
There are many people who have started to twist their minds by looking for income online and they choose to enter the gambling industry with the aim of making more money with small capital.
But unfortunately not all of them are successful because in reality gambling is not for work and gambling is not a place that can easily be made a place of breadwinners.
And since the pandemic until now, more people are starting to enter the gambling industry.

COVID-19 was a difficult moment; many people lost their jobs as a result of the government's massive lockdown; many individuals were rendered jobless, particularly those living in the most afflicted countries. Some turned to online casino and football gambling, betting extra money every day in the hopes of feeding themselves or their families. I've been in that situation before; I know how it feels to be unemployed and to struggle every day just to feed. People are still going through hard circumstances over there, so we shouldn't blame anyone who has become addicted to gambling, all in the name to feed, surviving is winning, if a tight gambler wants to survived, he or she needs to keep constant winning, that's how the whole gambling system works.

However, what is done in such conditions can actually worsen the economic or financial situation because they decide to gamble to get some money so they can support their family.
I know how I feel because at that time I also lost my job and had a business crash so my mind was always looking for ways to turn a little money into more even if what I did was wrong.
Yes and I don't blame anyone for gambling addiction because it is a choice and I'm sure they must have considered everything but due to economic factors and demands one way or another it will be done.

But in reality, many people from all over the world are involved in gambling during the Covid-19 pandemic.

[LUCKMCFLY]

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

Yes, of course,what happens I know that the KYC issue is very open and lends itself to giving an opinion on a whole series of thoughts that are very valid, but if we go to the origin of all this, from Satochi, he created Bitcoin to Avoid these things , then through governments, banks, third parties, that is, whoever is obligated to give data when in reality the reason for which bitcoin and crypto was created should be respected,and one of those is to manage money,whatever, that the Transactions are Fast and apart from not giving Verification or data, because that is what the fiat system is for, which is what they control, well from that it is my idea.

[Webetcoins]

COVID-19 was a difficult moment; many people lost their jobs as a result of the government's massive lockdown; many individuals were rendered jobless, particularly those living in the most afflicted countries. Some turned to online casino and football gambling, betting extra money every day in the hopes of feeding themselves or their families. I've been in that situation before; I know how it feels to be unemployed and to struggle every day just to feed. People are still going through hard circumstances over there, so we shouldn't blame anyone who has become addicted to gambling, all in the name to feed, surviving is winning, if a tight gambler wants to survived, he or she needs to keep constant winning, that's how the whole gambling system works.

However, what is done in such conditions can actually worsen the economic or financial situation because they decide to gamble to get some money so they can support their family.
I know how I feel because at that time I also lost my job and had a business crash so my mind was always looking for ways to turn a little money into more even if what I did was wrong.
Yes and I don't blame anyone for gambling addiction because it is a choice and I'm sure they must have considered everything but due to economic factors and demands one way or another it will be done.

But in reality, many people from all over the world are involved in gambling during the Covid-19 pandemic.

Choosing to gamble to have a better financial situation is a bad idea in the first place. One should think of doing something else but never get themselves into gambling when they already know that they have limited resources which they need to utilize in a way which can make it grow and gambling is not that thing since you can lose it all in no time with it.

I understand how difficult it is to not have a job or an income to support your family and have basic necessities but gambling is never a problem solver, people tend to gamble when they have more money than they need, not when they have a limited amount and want to make it more.

[rby]

during that pandemic surge in my country, i have a lot of neighbors playing online casino not only for fun but also to earn money since most of them lose their jobs or even if they still have work, the problem is the work system in our country became skeletal, which means there are times you can work and then the next week you'll have to rest the whole week. that was their way to accomodate lots of personnel who still wanted to work and support their families. i was also tempted to play casino but I decided to scour the internet at that time to find more opportunities although i can clearly see that the opportunities are very low and the competition increases tremendously.

X

X

People gambling to earn money is a serious issue. The best form of gambling should be for fun and when money comes, you take it as a compensation for time spent. Having little money and heavily involving in gambling is a time bomb waiting for explosion.
I have wanted to involve in serious gambling but later withdrew my intention because it is not yet time.
I will fully involve in gambling when I am super super rich. By this time, I wouldn't have to check my account balance each time I gamble. When you attain that level, it is when you will enjoy the act of gambling.

[usekevin]

Is web 3 a misunderstanding word for some gambling crypto projects? I've come across few gambling / crypto projects that claimed to be a web 3.0 online casino and other but they still ask for KYC.

When the website need of kyc,it will have minimum number of people.Most of the gamblers will not like to share their real identity,even some may play the gambling using the money which is untaxed one.So if they shared the kyc with the casino website,they need to file tax regularly to the government which is additional burden to them.

The definition of web 3.0 had everything to do with decentralization, block chain technology and token based economics as per what Wikipedia illustrated so why is identity/ verification integrated?

The decentralisation is important one in the gambling and casino sites as like in crypto currency.As we know the decentralised crypto currency bitcoin survive more than a decade as compared to many centralised cryptocurrencies like Ethereum.Because of the volatility the bitcoin survive till now which is not possible to the centralised cryptocurrency like Ethereum.

Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.

The more advanced gambling sites give us good gambling experience as compared to the old one.The new advanced gambling sites will make us more comfortable as compared to the old gambling site.

[LUCKMCFLY]

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

Let be honest here a casino can not act the function of government agencies in the control of scam related to money laundering when the AML agencies themselves couldn't control the overall challenges with scam related loots from exchanges, to an extent some of the KYC casinos also serve a little function of an exchange since you can deposit your money with them, exchange it for another currency as long as their site policy support it.

Thus, unfortunately, the owners, those who wash money will always find a way of mockery of the authorities, and as always the authorities will always be late for their conclusions and will be far from all real, however as I said before, the Money laundering have to be rookie criminals, most of them when it comes to money laundering use other ways, corrupt governments will always wash money and not use the casinos for the demands they have of them, so I say, wash of money through casinos? It is like the fantasy that the CIA has, FBI to grab them there.

[danadc]

This thread always talks about how it is possible to launder money, and I have little experience in this matter, which makes me think that how can they launder money with casinos if they require KYC, for example a player who You want to launder money, deposit 20 thousand usd in cryptocurrencies, I imagine you have to bet I don't know 5% and from there if you lose it, you still withdraw it? because the KYC requirement is something quite strong, anyone cannot enter with such a large amount and then withdraw it to another wallet, that is what I think of those who launder money, that it must be very difficult.

[Blitzboy]

~

Thus, unfortunately, the owners, those who wash money will always find a way of mockery of the authorities, and as always the authorities will always be late for their conclusions and will be far from all real, however as I said before, the Money laundering have to be rookie criminals, most of them when it comes to money laundering use other ways, corrupt governments will always wash money and not use the casinos for the demands they have of them, so I say, wash of money through casinos? It is like the fantasy that the CIA has, FBI to grab them there.

Are we genuinely envisioning casinos as the champions in the anti-money laundering crusade? Seriously? Sounds like a fantasy Casinos' KYC procedures are a solid move, agreed. But a foolproof shield against laundering? That's like bringing a pea-shooter to a warzone! Dont even get me on governmental agencies with their dubious transactions. Fighting a blaze while fueling it—expect casinos to tackle this too? The prospect of casinos countering money laundering seems more of a daydream than a feasible fix. Reality stings, right?

[famososMuertos]

This thread always talks about how it is possible to launder money, and I have little experience in this matter, which makes me think that how can they launder money with casinos if they require KYC, for example a player who You want to launder money, deposit 20 thousand usd in cryptocurrencies, I imagine you have to bet I don't know 5% and from there if you lose it, you still withdraw it? because the KYC requirement is something quite strong, anyone cannot enter with such a large amount and then withdraw it to another wallet, that is what I think of those who launder money, that it must be very difficult.

First, there is a belief that KYC prevents money laundering, KYC(=/ ) is not the same as not laundering.

It is above all a process that allows them to be in line with the rules established as a casino and in the event of any problem that arises, this documentation serves as proof that they had nothing to do with it.

OTOH, the casino that does not require that a deposit must have a certain wager is very rare, in fact that in itself is a rarity, putting money in a casino and not betting it. That directly is a KYC secured to any withdraw.

[wiss19]

This thread always talks about how it is possible to launder money, and I have little experience in this matter, which makes me think that how can they launder money with casinos if they require KYC, for example a player who You want to launder money, deposit 20 thousand usd in cryptocurrencies, I imagine you have to bet I don't know 5% and from there if you lose it, you still withdraw it? because the KYC requirement is something quite strong, anyone cannot enter with such a large amount and then withdraw it to another wallet, that is what I think of those who launder money, that it must be very difficult.

Casinos that comply with KYC and AML rules tend to be safe from money laundering and other illegal activities because they ask every gambler to complete KYC verification and without doing that, they won't be able to use the full services of a platform, and if someone has evil intentions after joining a platform, they won't be able to continue with them if they can't comply with the rules and regulations.

But, criminals mostly manage to bypass such things by using other people's identities to verify their accounts and withdraw money but to counter that, platforms don't allow withdrawing after a deposit is made unless the player completes at least 1x wagering requirement.

[ethereumhunter]

People gambling to earn money is a serious issue. The best form of gambling should be for fun and when money comes, you take it as a compensation for time spent. Having little money and heavily involving in gambling is a time bomb waiting for explosion.
I have wanted to involve in serious gambling but later withdrew my intention because it is not yet time.
I will fully involve in gambling when I am super super rich. By this time, I wouldn't have to check my account balance each time I gamble. When you attain that level, it is when you will enjoy the act of gambling.

If people think of getting money from gambling, they will experience disappointment and frustration because they will not always be able to earn it. They must think of gambling as a way to get fun and entertainment so they will not think about winning from playing gambling.

If they could have self-control during gambling and always remember that gambling cannot always make money, they would have been able to restrain themselves from spending a lot of money. And if you are already rich, you should not gamble too often and it is better to focus on making money from other places to increase your wealth.

[Doan9269]

This thread always talks about how it is possible to launder money, and I have little experience in this matter, which makes me think that how can they launder money with casinos if they require KYC, for example a player who You want to launder money, deposit 20 thousand usd in cryptocurrencies, I imagine you have to bet I don't know 5% and from there if you lose it, you still withdraw it? because the KYC requirement is something quite strong, anyone cannot enter with such a large amount and then withdraw it to another wallet, that is what I think of those who launder money, that it must be very difficult.

Everything is open on the blockchain if you think you can use the casinos to launch your fraudulent hideout, but the problem is on how to know wether of the money deposited on the casino is from a genuine source or being stolen and kept there, which mens if the government cannot successful moderates stealing of government funds and properties in fiat finac banks authorities they can't achieve so with cryptocurrency as well.

[rby]

People gambling to earn money is a serious issue. The best form of gambling should be for fun and when money comes, you take it as a compensation for time spent. Having little money and heavily involving in gambling is a time bomb waiting for explosion.

If people think of getting money from gambling, they will experience disappointment and frustration because they will not always be able to earn it. They must think of gambling as a way to get fun and entertainment so they will not think about winning from playing gambling.

That is just the theoretical aspect of it we preach. But in reality, people join gambling because their relatives, friends or someone they know won big through gambling. This news will attract them to gambling, with the mindset that if my friend can win big in gambling, I can also win big. Nonetheless, my friend is not luckier than me.

If they could have self-control during gambling and always remember that gambling cannot always make money, they would have been able to restrain themselves from spending a lot of money. And if you are already rich, you should not gamble too often and it is better to focus on making money from other places to increase your wealth.

Here, one bad habit of some gamblers is their spending habit. Whenever they have a big win, they will forget how they have been losing for months without win. They will then see their winning as a free money and blow it overnight.

[ethereumhunter]

People gambling to earn money is a serious issue. The best form of gambling should be for fun and when money comes, you take it as a compensation for time spent. Having little money and heavily involving in gambling is a time bomb waiting for explosion.

If people think of getting money from gambling, they will experience disappointment and frustration because they will not always be able to earn it. They must think of gambling as a way to get fun and entertainment so they will not think about winning from playing gambling.

That is just the theoretical aspect of it we preach. But in reality, people join gambling because their relatives, friends or someone they know won big through gambling. This news will attract them to gambling, with the mindset that if my friend can win big in gambling, I can also win big. Nonetheless, my friend is not luckier than me.

Yes, right. The reality will be different because people can easily gamble, whether they are gambling because of friends or other people or even out of curiosity to see promos on social media sites. If things are lucky or not, we don't need to think about it because our goal in gambling is just to have fun.

If they could have self-control during gambling and always remember that gambling cannot always make money, they would have been able to restrain themselves from spending a lot of money. And if you are already rich, you should not gamble too often and it is better to focus on making money from other places to increase your wealth.

Here, one bad habit of some gamblers is their spending habit. Whenever they have a big win, they will forget how they have been losing for months without win. They will then see their winning as a free money and blow it overnight.

It's normal because they feel compelled to celebrate with their friends or family after a big win. Even though they had been losing for months, they finally managed to win big. After celebrating the moment, they will return to gambling and gamble again, hoping to win big again. But it will never be easy.

[dezoel]

This thread always talks about how it is possible to launder money, and I have little experience in this matter, which makes me think that how can they launder money with casinos if they require KYC, for example a player who You want to launder money, deposit 20 thousand usd in cryptocurrencies, I imagine you have to bet I don't know 5% and from there if you lose it, you still withdraw it? because the KYC requirement is something quite strong, anyone cannot enter with such a large amount and then withdraw it to another wallet, that is what I think of those who launder money, that it must be very difficult.

Maybe because that is what this thread all about. You said you have a little experience, so does it mean you have tried to launder money before? just kidding. Most of us here are not money launderers so we have no experience about it but we only have an idea on how it works.

A casino can require a KYC but some are not totally strict. They only require you to upload an I.D. A money launderer can just rent or buy another I.D for this. Also not all casino has a KYC on them. Money launderers are free to use this. Doing a KYC had some benefits like an increase in player's deposit. It can actually make them more trusted in the eyes of the casino owners.

[LUCKMCFLY]

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

this is why most licensed gambling sites are requiring kyc from their customers especially if they are exceeding their limits. to maintain their license from the jurisdiction of operations, they will surely apply the kyc procedure. because with their license, and when it comes to audit and they saw big numbers without kyc, for sure their license will be put into question.

Basically let's be clear, the kyc are a Requirement of governments and third Parties to know who are the ones who Play and how much they play, how much money they have available to play, spend and win, in order to have them on a list where in the future it can be used to apply Certain taxes that have not been paid during the Duration of what that person has played,that's the Way I see it, a leak of those Documents and that's it, with that they have so that they have the necessary Information for them to do or extort Someone.

KYC, that sweet-sour dance between legit gambling sites and players! Sure, it's a mandate from the powers that be, but what if there's a secret plot? On the surface, it's about following rules, keeping licenses. But what if they're collecting dossiers on our habits, ready to spring tax traps? A financial watchlist – exciting! And don't forget data leak risks. One misstep, and boom! Our precious info in the hands of bad guys. It's like offering a jackpot of personal data to mischief-makers. What a game!

We have to learn to live that to enjoy a good casino we have to give our data, that is something that is already like the law, it is something that is not pleasant, but since things are changing so much, good casinos have those demands,b and if it is something that we have to adapt to, at least a good casino with a high reputation guarantees us security, the bad thing is that when we want to handle high amounts of money, the casinos are not more demanding with their kyc, but it is something that They are very particular cases , normally the biggest problem goes to those who are Considered Whale.