Loophole in stopping Money Laundering through Wagering

[QueenVera]

As we know that most gambling sites will require you to gamble and wager your whole balance once, before you can cash out or withdraw from the gambling site and they take this measure so people do not do money laundering whereby deposit and withdraw without gambling.

Now the point here is that on the gambling site, there are many easy winning bets with odds like 1.01x etc. If the money lauder is sensible he can easily be wagering the whole amount by placing a few bets where the odds are very low and the winning chances are 99%.

So does this mean that there is a loophole here and the money launderers can easily by pass this wagering requirement?

The wagering requirements and Kyc procedures are different means that gambling platforms use to ensure safe betting against money laundering, the thing is that @noormcs5 there is no high percent successful strategy as such and it would come as a surprise for you to know that odds like that might even end up being more difficult to win than the ones you feel are risky, I've come across a game in sports betting where a team with a good success rate and has a lower of 1.05 lost against a team with a high and risky odd of about 5.08, though sometimes the lower odds stand a good chance of winning but the success rate from it is not very sure thats why experts says gambling is a game of luck and skills, no matter how skillfull you're sometimes you need luck to win a bet.
 Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or kyc processes before withdrawal, they know chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

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[noormcs5]

Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or kyc processes before withdrawal, they know chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

[Hispo]

Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or kyc processes before withdrawal, they know chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

It is a misconception that Bitcoin and cryptocurrency are a landscape where money laundering is widespread. In fact, I would dare to say most of laundering still occurs with FIAT instead of Bitcoin and other alternative coins.

Cash continues to be the number one option for criminals and physical casinos are more appealing to them, since they have less chances of getting busted and their money being seized.

Ironically, even though this ecosystem is about total control on one's money, it is more transparent than the old tradicional one.

[mak013]

Corruption is one thing which may happen at the government level (if the government is corrupt) or at an individual level if some individual wants to use some illegal means like money laundering etc but in both cases the gambling sites need to play their part to stop any illegal use of the platform.

I understand that if the government is involved, it will be difficult for the gambling casino to react but they should try to stop any illegal act they witness, as they are the ones who know exactly how much is being deposited and withdrawn from the casino and the purpose also become clear if anyone is depositing and withdrawing right after the minimum wagering requirements.

I think that it is possible only in some fantasy world. In real business there are standard commissions for laundering, why the casino must be the exception? After such withdrawals someone in casino is usually paid for this operation. Without check and taxes. And with crypto it becomes easy to hide such operations.

[maydna]

Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or kyc processes before withdrawal, they know chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

Perhaps, the money launderers already know that casinos are now tightening their rules by asking their users to do KYC, including those who use big money to gamble. Casinos want to protect their business from the illegal activities carried out by these money launderers, so they feel compelled to implement KYC on big gamblers.

Well, perhaps it makes some big gamblers who have nothing to do with illegal activities feel uncomfortable, but they have to follow the rules of the casino. Meanwhile, money launderers feel their movements have become increasingly limited with KYC. And there is a possibility that they will ask someone else to do KYC so they can use the verified account freely.

[fullhdpixel]

Corruption is one thing which may happen at the government level (if the government is corrupt) or at an individual level if some individual wants to use some illegal means like money laundering etc but in both cases the gambling sites need to play their part to stop any illegal use of the platform.

I understand that if the government is involved, it will be difficult for the gambling casino to react but they should try to stop any illegal act they witness, as they are the ones who know exactly how much is being deposited and withdrawn from the casino and the purpose also become clear if anyone is depositing and withdrawing right after the minimum wagering requirements.

I think that it is possible only in some fantasy world. In real business there are standard commissions for laundering, why the casino must be the exception? After such withdrawals someone in casino is usually paid for this operation. Without check and taxes. And with crypto it becomes easy to hide such operations.

It used to be easy to hide such operations with crypto in the past, it might be easy now as well but if you are using a platform such as a casino, you won't be able to easily hide such operations since they will ask you for KYC verification if you try to make a big deposit or withdrawal unless you are using a casino that isn't licensed which is the only case you might not be asked for verification but in such platforms, there is always the chance of your money getting stuck and them not allowing you withdraw it.

Even if the casino is paid for the operation, they wouldn't allow this if they have a license because the authorities will ask them and if they are found guilty of allowing such operations, the authorities will get their services closed which is not what they would want to happen to their businesses for sure.

[khaled0111]

Well, perhaps it makes some big gamblers who have nothing to do with illegal activities feel uncomfortable, but they have to follow the rules of the casino.

As far as I know, high rollers or big gamblers play exclusively on trusted casinos and they don't mind verifying their identity there as this can help in protecting their accounts and money. Those who will feel inconfortable are those who value their privacy regardless of how much they gamble.

Meanwhile, money launderers feel their movements have become increasingly limited with KYC. And there is a possibility that they will ask someone else to do KYC so they can use the verified account freely.

Most of them do this. They pay someone else to pass kyc for them or they use fake/bought documents. But casinos owners are spending a lot of money to improve their security and anti-cheating systems to help them spot abusers.

[Wiwo]

Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or KYC processes before withdrawal, they know the chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

You are right mate,  most money launderers like corrupt politicians and drug Barron's won't consider casinos as a good and reliable way to mix their money,  and as a matter of fact,  they are open to better options that,  since with casinos,  they risk losing part or all the money in trying to meet some of the compliance such as wagering which has been mentioned severally in this thread.

So for that,  we have to start categorically with that wagering requirement as an AML requirement I favour the casino more because in most cases those gamblers that try to meet that requirements end up spending extra money through they losing in trying to meet the wagering requirement and by that,  the casino gain more.

So a leader will rather pay a small fee to have his coins mixed using a Bitcoin mixer instead of the high risk of gambling in a casino which has a lot of conditions that could hardly be met.

[Mahanton]

Corruption is one thing which may happen at the government level (if the government is corrupt) or at an individual level if some individual wants to use some illegal means like money laundering etc but in both cases the gambling sites need to play their part to stop any illegal use of the platform.

I understand that if the government is involved, it will be difficult for the gambling casino to react but they should try to stop any illegal act they witness, as they are the ones who know exactly how much is being deposited and withdrawn from the casino and the purpose also become clear if anyone is depositing and withdrawing right after the minimum wagering requirements.

I think that it is possible only in some fantasy world. In real business there are standard commissions for laundering, why the casino must be the exception? After such withdrawals someone in casino is usually paid for this operation. Without check and taxes. And with crypto it becomes easy to hide such operations.

It used to be easy to hide such operations with crypto in the past, it might be easy now as well but if you are using a platform such as a casino, you won't be able to easily hide such operations since they will ask you for KYC verification if you try to make a big deposit or withdrawal unless you are using a casino that isn't licensed which is the only case you might not be asked for verification but in such platforms, there is always the chance of your money getting stuck and them not allowing you withdraw it.

Even if the casino is paid for the operation, they wouldn't allow this if they have a license because the authorities will ask them and if they are found guilty of allowing such operations, the authorities will get their services closed which is not what they would want to happen to their businesses for sure.

Would really be just that normal that those platforms or companies that do make out some huge revenue or incoming or outgoing transactions would really be under on governments laws and regulations on which means that
whenever you do tend to make out some huge deposit and withdrawal then it would really be that normal that it would really be ringing up the bell and asking out for some verification which its not something new.
There might be still some platforms who do offer no kyc but most of the time they would really be requiring.This is why to those who do deposit up big then they would really be that forced on having that verification
and on the time that you would be able to comply out then you would be busted up if ever those funds are tend to launder out or trying out to clean. Trying to make it via wagering?
You are putting yourself on big trouble knowing that it would really be something risky and something that would might bust up all the money or funds you do have.

[tusandii]

Perhaps, the money launderers already know that casinos are now tightening their rules by asking their users to do KYC, including those who use big money to gamble. Casinos want to protect their business from the illegal activities carried out by these money launderers, so they feel compelled to implement KYC on big gamblers.

Well, perhaps it makes some big gamblers who have nothing to do with illegal activities feel uncomfortable, but they have to follow the rules of the casino. Meanwhile, money launderers feel their movements have become increasingly limited with KYC. And there is a possibility that they will ask someone else to do KYC so they can use the verified account freely.

Some of the most popular casinos that have large bankrolls have implemented a KYC verification system for all customers who make transactions with large amounts of money so that criminals or perpetrators of illegal acts such as corruptors or embezzlers who want to launder money in order to eliminate evidence have had difficulties and of course have succeeded more on tap.
But it's true what you said that some of them may buy someone's personal data to complete KYC verification and of course that way the perpetrators of these illegal actions can still carry out their actions.
Every casino must find another way that can make it more difficult for money launderers and that way each casino can avoid problems regarding money laundering.

[maydna]

~snip~

As far as I know, high rollers or big gamblers play exclusively on trusted casinos and they don't mind verifying their identity there as this can help in protecting their accounts and money. Those who will feel inconfortable are those who value their privacy regardless of how much they gamble.

That's obvious. Big gamblers always choose trusted casinos to play gambling. They don't want to get into any petty trouble, so they will make sure the casino is trustworthy. And they will also verify the trusted casino because they know that the casino can maintain their privacy. We also have to follow what they are doing if we don't want to run into fraud and other problems.

~snip~

Most of them do this. They pay someone else to pass kyc for them or they use fake/bought documents. But casinos owners are spending a lot of money to improve their security and anti-cheating systems to help them spot abusers.

If that's the case, they can easily find people willing to help them verify their gambling accounts with fake/purchased documents. They have a lot of money, so money is not a problem. This is why casinos are always careful in verifying gamblers' accounts. Sometimes, it takes longer to check everything before they can provide verification marks on gamblers' accounts.

~snip~

Some of the most popular casinos that have large bankrolls have implemented a KYC verification system for all customers who make transactions with large amounts of money so that criminals or perpetrators of illegal acts such as corruptors or embezzlers who want to launder money in order to eliminate evidence have had difficulties and of course have succeeded more on tap.
But it's true what you said that some of them may buy someone's personal data to complete KYC verification and of course that way the perpetrators of these illegal actions can still carry out their actions.
Every casino must find another way that can make it more difficult for money launderers and that way each casino can avoid problems regarding money laundering.

But corruptors or money launderers can easily verify their accounts so that it doesn't limit their movements in their illegal activities. We also can never predict what path will be taken by the perpetrators of illegal activities because they have more ways of carrying out their illegal activities. It seems like the casino is still trying hard to arrest the money launderers for carrying out their illegal activities in their casino, and I don't think the casino will ever tell the public about what they did to the money launderers.

[mak013]

Corruption is one thing which may happen at the government level (if the government is corrupt) or at an individual level if some individual wants to use some illegal means like money laundering etc but in both cases the gambling sites need to play their part to stop any illegal use of the platform.

I understand that if the government is involved, it will be difficult for the gambling casino to react but they should try to stop any illegal act they witness, as they are the ones who know exactly how much is being deposited and withdrawn from the casino and the purpose also become clear if anyone is depositing and withdrawing right after the minimum wagering requirements.

I think that it is possible only in some fantasy world. In real business there are standard commissions for laundering, why the casino must be the exception? After such withdrawals someone in casino is usually paid for this operation. Without check and taxes. And with crypto it becomes easy to hide such operations.

It used to be easy to hide such operations with crypto in the past, it might be easy now as well but if you are using a platform such as a casino, you won't be able to easily hide such operations since they will ask you for KYC verification if you try to make a big deposit or withdrawal unless you are using a casino that isn't licensed which is the only case you might not be asked for verification but in such platforms, there is always the chance of your money getting stuck and them not allowing you withdraw it.

Even if the casino is paid for the operation, they wouldn't allow this if they have a license because the authorities will ask them and if they are found guilty of allowing such operations, the authorities will get their services closed which is not what they would want to happen to their businesses for sure.

Do you really think that in offline casino would be easier to launder money? I`m sure that they have all problem you talk about and several others more. But they don`t stop laundering. Why do you think that in online casino can be the another way? It is business, not clean, but anyway it is business. With serious money and serious men. And they don`t care about problems you talk.

[Bitcoin_people]

Secondly a clever criminal may deposits small amount of money at once and then withdraw them after wagering them and not deposit high amount of money  in order to avoid the notice of the gambling house. They may repeat this process again and again

It will rise a flag if the person repeat the same thing again and again because the system in the casino may detect it as an unusual thing. Clever criminal will not do it repeatedly in the same place, they will do it in various different casinos. As I said previously before in this thread, a clever criminal who want to launder their money will not use casinos as the place to launder the money unless they are also willing to take the risk of losing all the deposited money.

And I do believe that no criminal do their thing on same place because they can get easily busted if they do that. Those criminals are so smart to know what will be their next best action to do that's the reason why we see them escape so easily. Also I guess they are not using a casino now since KYC is already implemented and mostly they use mixers to cover up their foot tracks then escape from those authorities who want to track them.

        -     Professional criminals often do that. And there is no such thing as a criminal in these times. Also, the only people who often commit money laundering are those who do or are used to doing illegal things.

And probably others are still going through this in the crypto space just so that the authorities don't care about the transfer of from money  to a good way through bitcoin mixing.

It is true that professional money launderers are always smart enough to escape easily before they are caught. However, most of the casino platforms currently mandate KYC to verify customers where criminals do not deposit money to hide their identity. But there are still many platforms that can withdraw money without it, but KYC is mandatory for those who want to launder extra money. Because money laundering is currently causing problems on casino platforms and those criminals are less likely to use casino platforms because they will be caught. So now criminals are doing money laundering by using various mixing, they are withdrawing a lot of money from here very easily. Money laundering is not only done by the criminals who do it but also by spreading the extra money they use these mixings so that no one can suspect them and catch them.

[wiss19]

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

You are right mate,  most money launderers like corrupt politicians and drug Barron's won't consider casinos as a good and reliable way to mix their money,  and as a matter of fact,  they are open to better options that,  since with casinos,  they risk losing part or all the money in trying to meet some of the compliance such as wagering which has been mentioned severally in this thread.

So for that,  we have to start categorically with that wagering requirement as an AML requirement I favour the casino more because in most cases those gamblers that try to meet that requirements end up spending extra money through they losing in trying to meet the wagering requirement and by that,  the casino gain more.

So a leader will rather pay a small fee to have his coins mixed using a Bitcoin mixer instead of the high risk of gambling in a casino which has a lot of conditions that could hardly be met.

Well, cases of money laundering nowadays have completely vanished from cryptocurrency casinos after they've announced KYC and AML rules and also added wagering requirements so that a user can't just make a deposit, play a few games and then withdraw the funds right after that. Now with wagering requirements, a gambler needs to meet a wagering requirement of at least 1x of the deposit which isn't easy to achieve knowing you might lose a big chunk of it.

Back in the days when cryptocurrency casinos were newly launched and when there wasn't any KYC verification or very high wagering requirements, money launderers used to use that opportunity and that is the reason why KYC and AML rules were then imposed on all cryptocurrency casinos operating under a license.

[Wiwo]

Well, cases of money laundering nowadays have completely vanished from cryptocurrency casinos after they've announced KYC and AML rules and also added wagering requirements so that a user can't just make a deposit, play a few games and then withdraw the funds right after that. Now with wagering requirements, a gambler needs to meet a wagering requirement of at least 1x of the deposit which isn't easy to achieve knowing you might lose a big chunk of it.

Back in the days when cryptocurrency casinos were newly launched and when there wasn't any KYC verification or very high wagering requirements, money launderers used to use that opportunity and that is the reason why KYC and AML rules were then imposed on all cryptocurrency casinos operating under a license.

We can't say that cases of money laundering have totally been eradicated from casinos this is so because not all casinos have that KYC in place and as a matter of fact those that have KYC don't enforce it in most cases and this is why some few of her cases of money laundering can still be present on some casinos.

But ultimately,  most of the casinos that already have wagering requirements in place don't help the AML law in any way and if the customer loses any launder-led money or then goes to the casino,  so only KYC is what benefits law enforcement agency in this situation.

[Blitzboy]

Well, cases of money laundering nowadays have completely vanished from cryptocurrency casinos after they've announced KYC and AML rules and also added wagering requirements so that a user can't just make a deposit, play a few games and then withdraw the funds right after that. Now with wagering requirements, a gambler needs to meet a wagering requirement of at least 1x of the deposit which isn't easy to achieve knowing you might lose a big chunk of it.

Back in the days when cryptocurrency casinos were newly launched and when there wasn't any KYC verification or very high wagering requirements, money launderers used to use that opportunity and that is the reason why KYC and AML rules were then imposed on all cryptocurrency casinos operating under a license.

We can't say that cases of money laundering have totally been eradicated from casinos this is so because not all casinos have that KYC in place and as a matter of fact those that have KYC don't enforce it in most cases and this is why some few of her cases of money laundering can still be present on some casinos.

But ultimately,  most of the casinos that already have wagering requirements in place don't help the AML law in any way and if the customer loses any launder-led money or then goes to the casino,  so only KYC is what benefits law enforcement agency in this situation.

The issue is, and Im just putting this out there, KYC may exist, but as you mentioned, it is not always enforced, correct? However, let us consider the casinos with wagering requirements. However, it does not necessarily assist with AML

Now, Im not saying you're incorrect or anything, but its not just KYC that we need to consider. I mean, perhaps, perhaps, there should be more, you know, regulations? Maybe more supervision, even if it's beginning to feel excessive? A mere thought, but food for contemplation

[LUCKMCFLY]

Well, cases of money laundering nowadays have completely vanished from cryptocurrency casinos after they've announced KYC and AML rules and also added wagering requirements so that a user can't just make a deposit, play a few games and then withdraw the funds right after that. Now with wagering requirements, a gambler needs to meet a wagering requirement of at least 1x of the deposit which isn't easy to achieve knowing you might lose a big chunk of it.

Back in the days when cryptocurrency casinos were newly launched and when there wasn't any KYC verification or very high wagering requirements, money launderers used to use that opportunity and that is the reason why KYC and AML rules were then imposed on all cryptocurrency casinos operating under a license.

We can't say that cases of money laundering have totally been eradicated from casinos this is so because not all casinos have that KYC in place and as a matter of fact those that have KYC don't enforce it in most cases and this is why some few of her cases of money laundering can still be present on some casinos.

But ultimately,  most of the casinos that already have wagering requirements in place don't help the AML law in any way and if the customer loses any launder-led money or then goes to the casino,  so only KYC is what benefits law enforcement agency in this situation.

Well, money laundering in casinos is not a big business for criminals currently, as they have already said, the KYC issue is something that does not leave them alone, also in some cases, when certain criteria are not met, they do not let you withdraw the money, also if they make the mistake of submitting to take a bonus, it is something different. because they have to do many things to be able to establish themselves well and not have to go through what we go through at some point, and when there are big money options things become more delicate, because some things are not so easy, something like deposit and then withdraw, that is something that can no longer be done.

In addition to the laws, the licenses in the casinos are many factors that can be established as something that until something is fulfilled in particular, since withdrawal is not allowed, also the KYC in this case are very well reviewed, because it is a lot of money, And if a request for withdrawal is given at once, then it is reviewed with even more care.

So currently, when money is laundered, other things are done, 'for example, a very common one is that they buy latest model cars and they arrive in the country and then they are sold in some way or through raffles, that is something that Currently people are living near where I live, and the cars are eventually very nice and then the government buys the cars and then from there they give power to one of the trusted ones and they put it up as raffles, that's one way, another is through another type of merchandise, the other way is to pass the money directly by planes or charter flights, now it is not like that for casinos, maybe in casinos they do, but they are eventually very new to those who do this type of things, plus the fact that you have to comply with KYC is no longer a business.

Personally, there are always more shameless ways to launder money, now things are very different, the police and all government entities, well, they let themselves be bought, they give them a large amount of money and pass it on, that not only It is happening in third world countries, I am sure that in all the countries of the world there is this type of corruption.

[Fortify]

As we know that most gambling sites will require you to gamble and wager your whole balance once, before you can cash out or withdraw from the gambling site and they take this measure so people do not do money laundering whereby deposit and withdraw without gambling.

Now the point here is that on the gambling site, there are many easy winning bets with odds like 1.01x etc. If the money lauder is sensible he can easily be wagering the whole amount by placing a few bets where the odds are very low and the winning chances are 99%.

So does this mean that there is a loophole here and the money launderers can easily by pass this wagering requirement?

Gambling sites are very aware of the possibilities and casinos have been traditionally targets for this activity, so it definitely does not go unnoticed by anyone. Money laundering with bitcoin is actually not generally possible in the way you're describing, as the actual wallets are disconnected from the balances when bets are taking place. The casino will often have control of the player wallet, even pooling lots of them together, but keep track of balances that the player is allowed to withdraw by a different mechanism. If a player deposits money, it doesn't move back and forth between wallets when under control of the casino, but rather it might be "balanced" or have funds paid to the casino at the end of the day, otherwise it would go out the same route it came in.

[Hamphser]

As we know that most gambling sites will require you to gamble and wager your whole balance once, before you can cash out or withdraw from the gambling site and they take this measure so people do not do money laundering whereby deposit and withdraw without gambling.

Now the point here is that on the gambling site, there are many easy winning bets with odds like 1.01x etc. If the money lauder is sensible he can easily be wagering the whole amount by placing a few bets where the odds are very low and the winning chances are 99%.

So does this mean that there is a loophole here and the money launderers can easily by pass this wagering requirement?

Gambling sites are very aware of the possibilities and casinos have been traditionally targets for this activity, so it definitely does not go unnoticed by anyone. Money laundering with bitcoin is actually not generally possible in the way you're describing, as the actual wallets are disconnected from the balances when bets are taking place. The casino will often have control of the player wallet, even pooling lots of them together, but keep track of balances that the player is allowed to withdraw by a different mechanism. If a player deposits money, it doesn't move back and forth between wallets when under control of the casino, but rather it might be "balanced" or have funds paid to the casino at the end of the day, otherwise it would go out the same route it came in.

Plus they are centralized or heavily regulated on which means that in speaking of money laundering then it could really be that plausible and this is why they would really be mandated or would be asking out such

rules so that they would really be able to avoid out that possible money laundering and this is where wagering requirement or conditions been applied on deposits so that people wont really be able to pull off easily on the time that they would really be tending to make use of gambling site as mediums for them to launder money. This is why those people wouldnt really be putting that option on making gambling sites to be their
ways of method on laundering money since we know that they are really that been regulated and you wont really be just only be putting up the risks on wagering or losing those funds but also you are really that
having the chance of being locked up specially if theres a sudden huge amount of deposits into your account that you do tend to launder which it would really be adding to those probabilities.

[BitcoinPanther]

Moreover this money lauderers know that the risk behind putting their money on gambling platforms and won't want to pass through the stress of these wagering requirements or kyc processes before withdrawal, they know chance of losing their stolen money is high and would seek other alternatives instead of going through those stressful processes

I understand that going through the gambling process and then fulfilling the wagering requirements can be a headache in itself but then what are the other ways of whiting the black money without any stress? I guess the other ways are even more difficult because exchanges have a lot more strict KYC policies and they would not let you withdraw if they saw anything suspicious about your account.

It is a misconception that Bitcoin and cryptocurrency are a landscape where money laundering is widespread. In fact, I would dare to say most of laundering still occurs with FIAT instead of Bitcoin and other alternative coins.

Cash continues to be the number one option for criminals and physical casinos are more appealing to them, since they have less chances of getting busted and their money being seized.

Ironically, even though this ecosystem is about total control on one's money, it is more transparent than the old tradicional one.

Despite the truth that money laundering is far greater in fiat currency, the emergence of cryptocurrency and crypto casino gives these money launderer more options to launder money.  We cannot deny the fact that cryptocurrency is being exploited to launder money and most of them pass through the crypto casino to wash the traces of the transaction.

Wagering though slightly help to keep away money some launderer but it does not really stop the culprit to use crypto casino to launder money.