Cashless Gambling, your thought?

[QueenVera]

I really don't think this is a nice motion or motive for the regular gamblers but this law will mostly favour tye government and leaving the players and casinos been stranded and scared.
One of the major reasons we have to push for tye use of crypto in casnos and gambling is the fact that government shouldn't be involved in the activities of a common man and if a gambling casino should be cashless, then it should be crypto inspired which would be decentralized with the involvement of a third-party and I think the crypto casinos are already pushing the fiat casinos out of market and I think the government wouldn't easily have a say in the gambling industry.

[1714250444]

1714250444

[Queentoshi]

May take on this.. screw the government if we really wanted to do cashless gambling, there is always a cryptocurrency gambling platform option where we can at least play gambling without the need to use our bank account.


So what do you think about this cashless gambling, is this another breakthrough of the gambling industry or just a way of the government to track their citizen and earn from the gambling establishment.

A breakthrough for the government, I really like how this also has an effect to reduce the number of underage gamblers. Children should not be gambling. Positively also for the cryptocurrency casinos and websites, they are about to be affected positively too by the increase in users who will prefer gambling with cryptocurrency than letting the government know and be able to control their gambling. Furthermore, some of these users who will be introduced to cryptocurrency as a way to avoid the government in gambling, will also get to find out the other purposes of cryptocurrency, which is good.

[Yatsan]

Cashless gambling refers to the mode of payment and that is different to what platform would you engage yourself with; landbased or online casino. If you'd engage with landbased casino even if it accepts online payment, it will still be tangled with the government. But in online platforms, many of the gambling sites are crypto based, I think, because of privacy concerns and convenience with transactions. It will just depend on your preference as a gambler and as an investor.

I think this type of rule has already been implemented in many gambling-friendly countries. It's not just to make the transactions quick and easy but also for their government to have all of those records accessible for their data and safekeeping.
There are pros and cons to this type of ruling for a local government and those that don't like it don't want to handle it too easily to the government that they've got a gambling record. Still, plenty of options for them, thanks to crypto gambling as there are still casinos that don't ask for kyc immediately.

I think it is just an alternative mode of payment and there's nothing more to it. Most of the transactions in the first place, and at the present are now made possible through online payments . But if you are avoiding taxes, crypto-based gambling casinos would be a better option.

[AicecreaME]

Have you ever thought of a government implementing a Cashless gambling?  Making hard cash obsolete for gambling purposes?  Armenia is currently pushing this law that force their gambler to do gambling transaction via bank[1].  It was stated that the said law is created so that the government can tax gambling institutions effectively.  They also add an additional requirement that the gambling establishment needs to pay in order to get the desired licenses on how much  bet the establishment can accept.

This may look profitable for the government but I believe it will hit hard gamblers.  With the implementation of cashless gambling, gamblers are now exposed since they have to use their credit cards or debit card to play.  (Another way of the government to spy on their citizen.)

In a positive note, minors gambling incident would greatly reduced because the gambling transaction can now be traced via bank statement, except if these minors can freely use their parent's cards.

May take on this.. screw the government if we really wanted to do cashless gambling, there is always a cryptocurrency gambling platform option where we can at least play gambling without the need to use our bank account.


So what do you think about this cashless gambling, is this another breakthrough of the gambling industry or just a way of the government to track their citizen and earn from the gambling establishment.



[1] https://www.casino.org/news/armenia-introduces-new-taxes-restrictions-on-its-gaming-industry/

I think it has positive and negative outcome if it will be implemented.

If this will be imposed in most countries, it could lessen the population of youths gambling. This would prohibit the underage to gamble since they have to use debit or credit cards which are usually offered and issued to adults who are already working.

This would also lessen the population of gamblers because not everyone has debit and credit card to begin with. Those who aren't qualified to have it won't be able to gambler. Which could either be a positive or negative effect depending on where you will view it.

Regarding the negative effect, the personal information could be at risk since the information of the cards will be monitored and will be stored in the casino's database that will be sent to the government as well if it's required by their contract. The average people and the poor can't gamble of they aren't qualified to get one. This could pose discrimination against those who aren't wealthy enough to acquire a card.

If physical casinos will impose this, surely majority will have a hard time adjusting to the policies given. There are already crypto casino that are doing this, but as far as I know physical establishments still cater accepting physical fiat because of inclusivity reasons.

[Reid]

It's just the government to track those with lots of money so they can throw the damn tax to them. They want to know their customers.
Sure, they will throw all the positive effect of it in news outlets and social media but there had always been the downside of this. They will just use that "gambling prevention" "lessen the minors gambling" and other stuff to make an alliance with parents that doesn't gamble but we know what it's real purpose behind the curtains. I am against it, and I suppose I could just stick with online gambling instead of that.

[Peanutswar]

Even if its a cash or cashless payment the government stil has a huge resources of this because we know how does the gambling casino gives a huge amount of profit to them so for sure they have a percentage cut with it. If you are talking about the gambling casino with the cryptocurrency sure they will limit those unless the government makes a rule with those so they cant operate or request to have a letter like the other country does to regulate gambling casino. If this is a physical casino sure theres a business contract to operate.

[dothebeats]

Gambling platforms will surely go against this idea and just stick to what setup they currently have. Sure, they are guaranteed of profits because gamblers need to connect their banks directly to the platform, but that will surely deter a lot of people from gambling because of the few extra steps they need to take before they can go and bet. Another thing is the added identification they need to submit on their part. Gamblers are already saying no tk KYC, how else would you expect them to react when they need to connect their bank accounts?

I reckon right now it will indeed reduce, but in the long term said "cashless" system would probably be a part of the norm and would eventually crawl its way to the standard system people use. Though I guess if people are against it there will always be alternatives like crypto casinos with no KYC.

We will all be going towards cashless as eventually. Physical money will be rendered obsolete as everyone is slowly preparing towards the digitization of almost everything. Heck, shopping for groceries is even going digital now, and just a few years ago we aren't that trusting enough of fully digital systems. Our society is rapidly changing and going cashless is just one of the inevitable.

As for gamblers looking to avoid KYC, the only This way they are avoiding every legal hurdle that they might face, and at the same time risking the possibility of being scammed along the way if the platform they are playing on decides to just run and ditch them. And knowing people, they aren't afraid to gamble their safety just to ensure that they will be having their way. The governments pushing for everything to be documented to happen is also them pushing people to look towards illegal alternatives. Unfortunately there's not much that we can do about it.

[Fivestar4everMVP]

So what do you think about this cashless gambling, is this another breakthrough of the gambling industry or just a way of the government to track their citizen and earn from the gambling establishment.

This is clearly another way for the government to spy on their citizens and also make money from their gambling activities and as well from the gambling firms.
Cashless gambling introduced by the government, though it has a very small advantage which you @op already mentioned, but to a greater extent, the gamblers and casino are in for a big loss if this law is passed.
Gamblers in this country should resort to cryptocurrency casinos to save themselves from government and bank manipulation.

[ryzaadit]

IMO, nothing wrong with that.

First of all, because with "TAX" is gonna support the public benefit. This step is just like the government who to take "TAX" for Cryptocurrency Activity, they can just partnership with their local exchange to track user income.

To make sure, the tax they need to pay.

[acroman08]

as you said, the law was created to effectively tax gambling institutions, so, it is not a breakthrough for the gambling industry but a "breakthrough" for the government to effectively tax gambling institutions. and yeah, I agree that these changes would greatly impact gamblers.

[Casdinyard]

Low-income gamblers will not be allowed to tax which is a good thing and a bad thing at the same time. Suppose Armenia is a third-world country with a considerable amount of Low to No-income citizens who gamble, these people not being able to play will be good for them, as it push them to spend the money to more productive ventures, but at the same time this is bad in a sense that this is a huge percentage of the population that you won't be able to tax in gambles. Especially bad vonsidering Low income citizens are the biggest demographic of live government sanctioned gambling. What they could provision instead of this ridiculous ordinance is provisioning licenses and other supporting document that all casinos must have in order to operate in the country. And make it at the same time that the government gets a certain percentage of the deposits the customers take whether they gamble or not. I think this will be a better law.

[capedbaldy]

One of the major reasons we have to push for tye use of crypto in casnos and gambling is the fact that government shouldn't be involved in the activities of a common man and if a gambling casino should be cashless, then it should be crypto inspired which would be decentralized with the involvement of a third-party and I think the crypto casinos are already pushing the fiat casinos out of market and I think the government wouldn't easily have a say in the gambling industry.

But as long as centralized gambling platforms are still dependent on government regulations then they still have control to regulate them even though their involvement space is low because they cannot track from deposit transactions accurately. I don't agree with the government replacing fiat because their only goal is to cut taxes from every transaction, they are very greedy for people's money but the people never get proper facilities from tax money.

[Baofeng]

as you said, the law was created to effectively tax gambling institutions, so, it is not a breakthrough for the gambling industry but a "breakthrough" for the government to effectively tax gambling institutions. and yeah, I agree that these changes would greatly impact gamblers.

Specially those low income gamblers, admit it or not, there are a lot of low income gamblers who risk their money here, no matter what the outcome is. I saw this when I played on land base casino's. So if they are going to be tax, then probably it's either stop their gambling as a whole or continue and then willing to pay the tax (but how can they do that if they are low income families).

Anyhow, there are a lot of pros and cons of this law and maybe the pros will be beneficial for the country itself in the long run. More taxes means more revenues for the government. And those who are not willing to be track and pay taxes should stop their gambling.

[serjent05]

I don't mind the taxation as long as the proceeds go to where they should be and not in the pocket of a greedy corrupt politician.

I also think that Cashless Gambling has its pros and cons, as stated one of the pros of cashless gambling is to be able to identify people who are gambling too much to the cost that they have to gamble everything.  If responsible gambling is to be implemented, the government will easily identify people that need counseling and intervention.  Another pro would be limiting minors from gambling since minors using their own credit or debit card if they have one can be tracked and blocked from accessing the gambling site.

Cons would be the gambler's freedom and privacy.  If the government decided to intervene and manage people's gambling habits, it can easily tag people, intervene and ban people from accessing the gambling site because it can easily command banks to deny any transfer of funds to a casino of any individual on their list.

Cashless gambling sure sounds sophisticated but I believe there are hidden reasons why the government wanted to implement this stuff.

[TheGreatPython]

I think it has positive and negative outcome if it will be implemented.

If this will be imposed in most countries, it could lessen the population of youths gambling. This would prohibit the underage to gamble since they have to use debit or credit cards which are usually offered and issued to adults who are already working.

This would also lessen the population of gamblers because not everyone has debit and credit card to begin with. Those who aren't qualified to have it won't be able to gambler. Which could either be a positive or negative effect depending on where you will view it.

Regarding the negative effect, the personal information could be at risk since the information of the cards will be monitored and will be stored in the casino's database that will be sent to the government as well if it's required by their contract. The average people and the poor can't gamble of they aren't qualified to get one. This could pose discrimination against those who aren't wealthy enough to acquire a card.

If physical casinos will impose this, surely majority will have a hard time adjusting to the policies given. There are already crypto casino that are doing this, but as far as I know physical establishments still cater accepting physical fiat because of inclusivity reasons.

True. And as explained by the OP. The negative outcome would be is that gamblers are now being taxed. I know that tax could go a long way as long as the leader is trustworthy enough but this can reduced our bankroll. This means lesser playing time. And what if those charged amounts are the ones that could give us a good win?

The positive outcome on the other hand is that we can now gamble efficiently because things are now done in a cashless way. The rest negative and positive outcome are already given by you. Innovations like this are obviously done in offline casinos only because in online, we are already using bank, cards and other digital payment methods.

[Sandra_hakeem]

It'll rather sound like a good idea though, but it's just another means of enslaving gamblers as every transactions will be monitored; a good plan cus it's gonna curtail the rate of laundering and some other menial cheating tricks but it's the worst plan cus it's just gonna enslave everyone and ofcourse -- they've got alot of reasons to Which they conceived an idea like that in the first place -- so I think every other hidden reason could turn out to disrupt the liberal purpose of gambling... They'd even mount takes on every wagered game and that'll increase the Least STANDARD wager amount which, in turns becomes a problem. I don't think I support the motion.NO!

Sandra 🧑‍🦰

[wheelz1200]

Have you ever thought of a government implementing a Cashless gambling?  Making hard cash obsolete for gambling purposes?  Armenia is currently pushing this law that force their gambler to do gambling transaction via bank[1].  It was stated that the said law is created so that the government can tax gambling institutions effectively.  They also add an additional requirement that the gambling establishment needs to pay in order to get the desired licenses on how much  bet the establishment can accept.

This may look profitable for the government but I believe it will hit hard gamblers.  With the implementation of cashless gambling, gamblers are now exposed since they have to use their credit cards or debit card to play.  (Another way of the government to spy on their citizen.)

In a positive note, minors gambling incident would greatly reduced because the gambling transaction can now be traced via bank statement, except if these minors can freely use their parent's cards.

May take on this.. screw the government if we really wanted to do cashless gambling, there is always a cryptocurrency gambling platform option where we can at least play gambling without the need to use our bank account.


So what do you think about this cashless gambling, is this another breakthrough of the gambling industry or just a way of the government to track their citizen and earn from the gambling establishment.



[1] https://www.casino.org/news/armenia-introduces-new-taxes-restrictions-on-its-gaming-industry/

This is just like everything else going cashless.  It's for better tracking and ultimately to make sure of exactly that, to be able to tax and make sure no one is getting out of it.  I don't like it personally.  Cash is acceptable tender and to exclude it is rediculous.

[tabas]

This may look profitable for the government but I believe it will hit hard gamblers.  With the implementation of cashless gambling, gamblers are now exposed since they have to use their credit cards or debit card to play.  (Another way of the government to spy on their citizen.)

That won't be a problem for most gamblers IMHO. Being exposed to the government has already been there with our registrations and cards and ID stuff. They've been monitoring most of us and that's why if this is just the concern out of this law then it's not that concerning at all.
What's more concerning is that when our information is exposed or exploited. Like a hacker takes the database of our information from them then it will be worrisome because we don't know what they can do to our details but most likely, it will be sold to the market places, dark market or advertising companies.

[passwordnow]

I think this type of rule has already been implemented in many gambling-friendly countries. It's not just to make the transactions quick and easy but also for their government to have all of those records accessible for their data and safekeeping.
There are pros and cons to this type of ruling for a local government and those that don't like it don't want to handle it too easily to the government that they've got a gambling record. Still, plenty of options for them, thanks to crypto gambling as there are still casinos that don't ask for kyc immediately.

I think it is just an alternative mode of payment and there's nothing more to it. Most of the transactions in the first place, and at the present are now made possible through online payments . But if you are avoiding taxes, crypto-based gambling casinos would be a better option.

That's one thing to be part of it, taxes. We all know that when a government supports something profitable, it's never gone about the taxes.
Even if someone avoids to pay taxes through his winnings in a casino through crypto, then he's still needed to pay taxes for his income gains through his crypto gain.
So, there's no escape on taxation if that's the concern of most gamblers that thinks that they have to worry about it.

[bitcampaign]

then how about gamblers who use crypto and crypto generated from their work on the internet, I don't think the government will track it about that unless that person cashes out his crypto into an account that belongs to him, it can be tracked, I also don't like this way but if it's for good for example paying taxes is no problem