Thought's on many major fiat-crypto payment gateways ditching casino business's?

[Frank_Holo]

Hey guys, so I've been doing some digging into fiat-crypto casino payment gateways specifically. Right now Stake.com and Bc.game use Moonpay for their "buy crypto" function, however after contacting Moonpay, Transak and a few other major fiat-crypto payment gateways I've learned that these providers no longer accept new casino business.

In the case of Moonpay they are upholding their existing agreements with casino providers (for now I guess) but new operators are only being accepted with casino licenses in the UK and USA (both of which require their own unique gaming licenses) as well as a reputable international license (e.g. curacao, malta, antigua etc.).

Transak on the other hand are just straight up removing themselves from the gambling industry altogether.

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps, it creates an uneven playing field as the big guys get treated differently.

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[Oshosondy]

I would have make some researches about what you posted, but my findings would be of waste because I can not remember the last time I used fiat to deposit or withdraw on a gambling site. I used crypto for deposit. Bitcoin and other cryptocurrencies makes this easy, all the gambling sites that have announcement thread on this forum are all accepting cryptocurrencies.

[ryzaadit]

I moderated on some projects.

We have marketplace (NFTs) and provided (Fiat-Gateway) from Binance, why not just listened to the gateway but the transaction requires you to buy crypto by forwarding them into Binance and buying from them?

Yes, they still required to send the crypto manually but is just give a good gesture in-case you want to provided fiat-gateway through casino due most of the service trying to avoiding some problem/regulation about gambling.

[slapper]

Moonpay's entire premise is so hypocritical. "Oh, we'll honor our existing contracts but pull up the ladder for others"? Please. Every casino should have equal access, not just the ones cozying up in the UK and USA. And don't even get me started on Transak. Exiting the gambling industry? Talk about missing out on the future of entertainment.

This is an outright power play. The big fish are trying to keep the pond to themselves. But remember, every Goliath has its David. New providers will find a way, and they'll rise to the challenge. This uneven playground won't last for long.

[Eternad]

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps, it creates an uneven playing field as the big guys get treated differently.

Because there’s crypto exchange which users can use to deposit fiat and convert to crypto for crypto casino deposits. We are talking about crypto casino here which means fiat deposit is not the top priority. There’s also some legality issue on onboarding fiat payment option.

It’s not a big deal since most of the players on crypto casino use cryptocurrency to play for privacy or else they just use the regular online fiat casino to play if they want fiat. Crypto casino is expanding their coverage in terms of cryptocurrency payment while fiat payment system is least of their priority due to the law requirements compared to crypto which is not regulated.

[iv4n]

I would have make some researches about what you posted, but my findings would be of waste because I can not remember the last time I used fiat to deposit or withdraw on a gambling site. I used crypto for deposit. Bitcoin and other cryptocurrencies makes this easy, all the gambling sites that have announcement thread on this forum are all accepting cryptocurrencies.

I can't agree more with you. Crypto gambling makes everything more simple and easier.

In the last 10 years, I have only one fiat deposit... I wanted to try 888 and their poker. So I have the same feeling that researching about this would be a waste of time because I don't use fiat for gambling. And I don't have any plans to go back to fiat gambling casinos, or to fiat deposits in crypto casinos.

[Fortify]

Hey guys, so I've been doing some digging into fiat-crypto casino payment gateways specifically. Right now Stake.com and Bc.game use Moonpay for their "buy crypto" function, however after contacting Moonpay, Transak and a few other major fiat-crypto payment gateways I've learned that these providers no longer accept new casino business.

In the case of Moonpay they are upholding their existing agreements with casino providers (for now I guess) but new operators are only being accepted with casino licenses in the UK and USA (both of which require their own unique gaming licenses) as well as a reputable international license (e.g. curacao, malta, antigua etc.).

Transak on the other hand are just straight up removing themselves from the gambling industry altogether.

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps, it creates an uneven playing field as the big guys get treated differently.

This area of finance is often considered "grey" because there are much larger amounts of fraud taking place, sometimes with dishonest people placing bets and then later claiming that it was not them to get their money back. Which requires careful nurturing and intensive investigation, resulting in more expensive fees going to these businesses. A random person that is emailing these finance companies is going to get stonewalled and receive negative answers, because they don't want any potential bad publicity in the current world which is hyper sensitive. These companies negotiate deals with casinos behind closed doors and try to stay as hidden in the background as possible, they're not interested in announcing how they gather new business so gave you these answers but it doesn't make it true.

[Mahanton]

Hey guys, so I've been doing some digging into fiat-crypto casino payment gateways specifically. Right now Stake.com and Bc.game use Moonpay for their "buy crypto" function, however after contacting Moonpay, Transak and a few other major fiat-crypto payment gateways I've learned that these providers no longer accept new casino business.

In the case of Moonpay they are upholding their existing agreements with casino providers (for now I guess) but new operators are only being accepted with casino licenses in the UK and USA (both of which require their own unique gaming licenses) as well as a reputable international license (e.g. curacao, malta, antigua etc.).

Transak on the other hand are just straight up removing themselves from the gambling industry altogether.

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps, it creates an uneven playing field as the big guys get treated differently.

Whether these payment providers had been mandate out on not to accept newly built up or launched casinos or really that strict on following their criteria on accepting one. Therefore, if you are that a gambling site
whose really that having no license then dont expect that you would really be able to get this kind of feature on which gamblers could really be able to directly purchase crypto with these providers but come to think
that it was never been available before which means that if gamblers are really that interested on playing on a certain site but lacking up with this kind of feature, then they would really be just simply be buying crypto on exchangers and would really be transferring into their gambling account as simple as that. Its not always that a big hindrance for them to stop on playing on a site just because they havent seen that option. Somewhat having these kind of options does really make things comfortable and easy access but exposing yourself towards using up your card or any other correlated things will really just totally opposing the real deal with crypto
gambling. This is why these kind of things arent really that something a big issue for most crypto gamblers because anonymity will always be that preferred but cant really deny about on the convenience that it do brings.

[darkangel11]

Why would a crypto casino care whether it can or cannot strike a deal with a fiat payment gateway?
As for he ditching, it was like that from the beginning. Fiat companies would try to make deals with crypto companies and either found the amount of people willing to use them too small, or were given a warning from some government agency that helping a crypto business may lead to some more frequent checkups by tax authorities. At least that was the case in my area. It's obvious governments (in general) don't want banks and payment companies to work with crypto firms. A crypto casino is even a bigger issue to them.

[Sim_card]

A crypto casino wouldn't have a gateway for fiat payment because that isn't the payment method that the casino has chosen. They don't give a fuck about fiat payment that is why they decided to go with crypto and only accepts crypto. Crypto is the world new digital currency and everyone is going after it to abandon the old fiat life style. If you are looking for a crypto casino that has a gateway to fiat,it is better that you first exchange your fiat to crypto in a exchange before funding your gambling wallet. Or go gamble in a fiat casino. Maybe there is a reason why they only accept to deal with only new casinos from the UK and USA.

[o48o]

Why would a crypto casino care whether it can or cannot strike a deal with a fiat payment gateway?
As for he ditching, it was like that from the beginning. Fiat companies would try to make deals with crypto companies and either found the amount of people willing to use them too small, or were given a warning from some government agency that helping a crypto business may lead to some more frequent checkups by tax authorities. At least that was the case in my area. It's obvious governments (in general) don't want banks and payment companies to work with crypto firms. A crypto casino is even a bigger issue to them.

Well any service that could potentially make more revenue and is making depositing money easier for some people is worth using.

However this is the only post i found about this subject and i guess i would have just to blindly trust OP on this issue, as only source for this is OP saying he/she contacted those services. He didn't include any screenshots about these conversations so i would need to confirm this myself. I see no reason for OP lying about this but it seems really unbeliveable that this would be only post about this subject. Maybe someone else has more info, or OP would like to elaborate on this.

[serjent05]

I have no idea about the truth behind this matter since it was the payment gateway companies policy though I kind of think that this has something to do with competition and monopoly.  Thinking that one payment gateway still continues to serve huge casinos while rejecting new casinos to use their service.

These crypto casinos are missing out in rejecting their new clients since the new founded casino can possibly be the next big thing and rejecting them will simply cut off some of the source of income of the payment gateway company.

Why would a crypto casino care whether it can or cannot strike a deal with a fiat payment gateway?
As for he ditching, it was like that from the beginning. Fiat companies would try to make deals with crypto companies and either found the amount of people willing to use them too small, or were given a warning from some government agency that helping a crypto business may lead to some more frequent checkups by tax authorities. At least that was the case in my area. It's obvious governments (in general) don't want banks and payment companies to work with crypto firms. A crypto casino is even a bigger issue to them.

Well any service that could potentially make more revenue and is making depositing money easier for some people is worth using.

However this is the only post i found about this subject and i guess i would have just to blindly trust OP on this issue, as only source for this is OP saying he/she contacted those services. He didn't include any screenshots about these conversations so i would need to confirm this myself. I see no reason for OP lying about this but it seems really unbeliveable that this would be only post about this subject. Maybe someone else has more info, or OP would like to elaborate on this.

I also searched the net for the reason why these payment gateway companies stop accepting or selectively accepting casinos to service with but I do not find anything.

[rhomelmabini]

Why would a crypto casino care whether it can or cannot strike a deal with a fiat payment gateway?

Well, I think there are still individuals that may prefer that especially if they're just starting in crypto or some individuals want it as an alternative for a crypto casino so these casinos still put it an option to some.

Don't know the deal with Stake and BC.Game adding it as an option but I don't think they'll put it there to just ruin their reputation. Either the OP is just making some story or there are miscommunication between these payment gateways and the casino. The OP didn't even make an update or provide more information about this.

[michellee]

It is an agreement between service providers while the user will not know the truth. Users are only directed to use fiat-crypto casino payment service providers. And if users feel that using a casino's service provider is not profitable, they will use other methods.

After all, crypto casino users already understand what they have to choose because many crypto users already use crypto because of its convenience. They can buy their crypto wherever they like. They do not need to use payment service providers provided by casinos if they are not comfortable using them.

And I still prefer buying crypto from exchanges than using Moonpay or any other service provider. And I also use crypto for deposits to casinos.

[Johnyz]

Why would a crypto casino care whether it can or cannot strike a deal with a fiat payment gateway?

Well, I think there are still individuals that may prefer that especially if they're just starting in crypto or some individuals want it as an alternative for a crypto casino so these casinos still put it an option to some.

Don't know the deal with Stake and BC.Game adding it as an option but I don't think they'll put it there to just ruin their reputation. Either the OP is just making some story or there are miscommunication between these payment gateways and the casino. The OP didn't even make an update or provide more information about this.

Many gamblers are still looking for a better way to cash in, maybe this is why many still prefer a fiat currency.
I'm wondering though why they choose crypto casino if they will not use any crypto at all. What's specific site we are talking here?
I'm interested to know about theses crypto casinos who are working towards fiat adoption, this could be the trend.

[Porfirii]

-snip-

And I still prefer buying crypto from exchanges than using Moonpay or any other service provider. And I also use crypto for deposits to casinos.

Don't forget that not everybody has your knowledge/background on cryptocurrencies and that most people don't know many of the tools we take for granted. Bitcoin, although more and more people has ever heard about it, still poses many questions for most of them, and an integrated gateway can make the difference between using their services or not, even if veterans like us wouldn't care about it or even refuse to use it because we prefer better channels to do so.

[Wexnident]

~

I mean technically speaking, if they were playing on crypto casinos then they're bound to know about how crypto works, so they should be able to buy their own via exchanges if need be, and not directly with casinos themselves. I don't think it's going to be "that" much of a big thing, for all we know they may have stopped said services exactly because of that, that their customers don't really use the service and they're basically losing money implementing said services.

As I said, I don't think it matters much, it's not like buying in exchanges is that much of a pain in the ass, except for KYC for the most part I guess.

[bittraffic]

Regulations is not up to moonpay, they must be following what is mandated to them also. There are other ways to make people buy crypto inorder for them to play in a casino, though its not very convenient I think will work for the new casinos coming to the competition.

If the new casino partners with exchanges or simply just use their affiliate link to sell crypto to gamblers, it will make the users smarter. Probably even avoid moonpay.

[tusandii]

I also searched the net for the reason why these payment gateway companies stop accepting or selectively accepting casinos to service with but I do not find anything.

Gateway companies will never share the main reasons for doing this and of course they have their own reasons which are the privacy of the company so that bad or negative responses arise against them.
Just like Coinbase, which is one of the top rated, it also has to comply with the rules set by the US regarding currency exchange because Coinbase itself is a US-based gateway company.
But as time goes by I think most people are no longer using gateways and are choosing other, faster options using crypto exchanges like Binance and so on.

[Beparanf]

But as time goes by I think most people are no longer using gateways and are choosing other, faster options using crypto exchanges like Binance and so on.

This is correct, most of the payment gateway already partnered to centralized exchange that makes other services that accepts fiat consider it not top priority because people already preferred exchange to deposit their fiat then withdraw to the service that they want to spend crypto such as casino.

Only few crypto casino accepts fiat and most of them only use the giant payment processor such as visa and mastercard to deposit fiat in the casino. In my opinion, Using fiat on crypto casino will remove your advantage of being anonymous when playing with crypto if you will deposit Fiat directly to your casino account.