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

[Porfirii]

Ever since I got here in crypto business, and when I do gamble I only use crypto not any fiat in any of the casino in this field of business.
And just like that others using cryptocurrency is more cheaper than a fiat currency. That's what I had observed through my experienced in playing gambling here in the crypto space.

And this is more attractive rather fiat actually in my own opinion only.

It is attractive to you because you are already accustomed to using crypto wallets and exchanges to move your money in and out a casino or other custodial services. Now try to imagine what a pure FIAT gambler would feel if they wanted to try a crypto casino and after signing up they realize they cannot gambler immediately, but need to also sign up in an exchange, go through KYC verification again, wait for it to be approved,  then buy crypto there and learn how to withdraw from there to the casino.

To you, it sounds obvious and it would be something you could do within seconds, but in the eyes of the average non-crypto user/ gambler, it may be a hassle they are not willing to go through to try a new casino. Hence the importance of payment gateways.

You nailed it Hispo. We are talking from the perspective of crypto "natives" who first addopted Bitcoin (and other cryptos) and then knew about crypto casinos, which we are already used to. But, from the perspective of a newbie, finding it hard to deposit or exchange fiat for crypto is a clear barrier to entry, even if we might think that it is not that bad.

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[Crypt0Gore]

Fiat payment on line casino is not necessary,  because most people don't use them for gambling, people prefer gambling off Fiat, they use other payment options via Crypto, haven't you heard that since crypto become a thing many numbers of new gamblers are now using crypto to gamble online, this has been ongoing since the last virus outbreak (covid19).

I have used some online casinos and the only payment options I choose are all crypto, Bitcoin, Litecoin, and Dogecoin, few don't even have any other payment options than crypto, so to me it doesn't matter, if you are planning to run an online casino, crypto payment is more than OK.

[Fivestar4everMVP]

Ever since I got here in crypto business, and when I do gamble I only use crypto not any fiat in any of the casino in this field of business.
And just like that others using cryptocurrency is more cheaper than a fiat currency. That's what I had observed through my experienced in playing gambling here in the crypto space.

And this is more attractive rather fiat actually in my own opinion only.

It is attractive to you because you are already accustomed to using crypto wallets and exchanges to move your money in and out a casino or other custodial services. Now try to imagine what a pure FIAT gambler would feel if they wanted to try a crypto casino and after signing up they realize they cannot gambler immediately, but need to also sign up in an exchange, go through KYC verification again, wait for it to be approved,  then buy crypto there and learn how to withdraw from there to the casino.

To you, it sounds obvious and it would be something you could do within seconds, but in the eyes of the average non-crypto user/ gambler, it may be a hassle they are not willing to go through to try a new casino. Hence the importance of payment gateways.

You nailed it Hispo. We are talking from the perspective of crypto "natives" who first addopted Bitcoin (and other cryptos) and then knew about crypto casinos, which we are already used to. But, from the perspective of a newbie, finding it hard to deposit or exchange fiat for crypto is a clear barrier to entry, even if we might think that it is not that bad.

Well, first off , things are changing very fast, gamblers should understand this and try to get themselves acquainted with new technologies, it takes nothing from them, anyone who knows how to filled out their information on a gambling casino, locate the sign up button easily, enter the casino and even know how to deposit fiat currencies through the fiat payment gateways, this person will also find doing the same with crypto very easy, adapting and getting oneself acquainted to new technologies is not a matter of personal choice, for most of the time, it's a must, and failure to do so means you might just have to lose out on some important opportunities .

[YOSHIE]

I think it's a real shame that new providers won't have access to reputable fiat to crypto on-ramps,

In my opinion, the transaction mechanism or process used by most crypto casinos has improved, even though there is no need for a Crypto on-ramp mechanism, for me it's enough for an exchange to make crypto to fiat and fiat to crypto that users can make transactions with banks and other features supported by the exchange.

I'm sure every casino finds it difficult to maintain Crypto on-ramp or Fiat On-Ramp, there are a lot of concerns in my opinion about the Crypto on-ramp method, for online casinos, except: they have to be Bank partners. For me the current online casino provider is better.

[maydna]

Fiat payment on line casino is not necessary,  because most people don't use them for gambling, people prefer gambling off Fiat, they use other payment options via Crypto, haven't you heard that since crypto become a thing many numbers of new gamblers are now using crypto to gamble online, this has been ongoing since the last virus outbreak (covid19).

I have used some online casinos and the only payment options I choose are all crypto, Bitcoin, Litecoin, and Dogecoin, few don't even have any other payment options than crypto, so to me it doesn't matter, if you are planning to run an online casino, crypto payment is more than OK.

Those who already use crypto will recommend using crypto for gambling because we already feel the benefits. Payment using fiat may seem worrying because the bank may track the use of the money in the bank, so the bank will ask us about it.

And yes, just having crypto payment options is more than enough because nowadays, people are getting to know crypto better. But if a casino wants to add another payment gateway, that would be better because they can give their users a choice. After all, their users are not just crypto gamblers, as there are fiat gamblers turning to crypto casinos.

[Haunebu]

They are all useless anyway if you ask me since their fees totally suck. You can purchase crypto from your local exchanges via bank transfer, p2p etc for better prices and lower fees in comparison.

Just purchase the crypto that you want and send it to the casino properly whose deposit fees are usually free while their withdrawal fees are minimal.

[wiss19]

I have always got the impression those options are set for people who are really new into the world of cryptocurrency but have gambled before, so they ended up on Stake (or any other major Crypto gambling site) because someone recommendation or because some advertisement campaign.

They enter and realize they have never used Bitcoin or altcoins, since casinos would not like those new users to go without trying that the website has to offer, it is a question of common sense for them to have something set up so newbies into crypto can buy and gamble right away, since most FIAT gamblers are likely to have a credit card, I would argue those payment processors indeed accomplish a purpose in crypto casinos that can afford to have them.

That is probably right, only new users that don't already have cryptocurrencies and have stumbled upon a cryptocurrency casino for the first time might use that option because they might not have enough experience about cryptocurrencies and how they can buy, store, and send them from a wallet to the casino platform, for such people, that option is probably the easiest way to go about buying cryptocurrencies and then gambling with what they've bought.

However, those who already use cryptocurrencies and have wallets and accounts on centralized or decentralized exchanges, they can easily just buy from there and send it to their gambling account and start gambling instead of using a bank account or a credit card to buy cryptocurrencies directly within the platform.

[piebeyb]

Just purchase the crypto that you want and send it to the casino properly whose deposit fees are usually free while their withdrawal fees are minimal.

Yes agree with you, after all it will not be useful for many users or gamblers in casinos because there is a way that I think is safer than using other fiat payments, buying on an exchange or p2p then sending it to the casino, it is much easier and safer in my opinion even It doesn't require large transaction fees and the minimum withdrawal isn't too big either.

Moreover, fiat payments like that are rarely found in other crypto casinos, mostly almost all only accept crypto payments to make it easier and their focus is on crypto alone there is no other payment process, maybe it will be followed by other crypto casinos by closing the gates for other payments on their site in addition to crypto.

[avp2306]

This is not accurate conclusion but maybe payment gateways are just avoiding the consequences of illegalities since some of the casino are used for illegal activities such money laundering and other illegal actions that's why they ditch the gambling activities to avoid any hassle coming from users who might encounter a problem regarding with this matter. Maybe best to use another crypto payment gateway that allow any type of transactions since there are some exist that doesn't give us any issues.

[Haunebu]

Moreover, fiat payments like that are rarely found in other crypto casinos, mostly almost all only accept crypto payments to make it easier and their focus is on crypto alone there is no other payment process, maybe it will be followed by other crypto casinos by closing the gates for other payments on their site in addition to crypto.

More and more crypto gambling sites will definitely close their gates on FIAT payments and only focus on crypto payments with time thanks to government regulations and fees related issues.

However, they need to keep adding more and more crypto payment methods in order to cater to all kinds of investors.

[Weawant]

I think people who play at crypto casinos use more crypto by buying crypto first on exchange sites then sending it to the casino, it seems a bit complicated but I'm sure it's been a long time and is often done so people think it's normal and not there are things that are troublesome, even so something that is actually easy don't make it difficult.

Slowly fiat to crypto payment gateway will no longer be needed. Gambling with cryptocurency is more entertaining to me than fiats as I get no attachment with gambling with cryptocurency like I do when I have to use my fiats in my bank account and others might feel the same.

It's easier to spend crypto as there isn't much we can use them for apart from trading, staking or holding. Gambling with them give us an activity we can always look forward to spending our profits made from holding, trading or staking cryptocurency and hope we make gains.

Casinos should encourage more cryptocurency payment and let go of fiat to crypto gateway. They should integrate crypto deposit and withdraw directly and watch how their casino will grow because more cryptocurency users are looking for reputation casino to gamble on.

[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.

The reality is that any reputable financial company, including these payment gateways, that wants to transact in US dollars and other popular currencies like Sterling or Euros, will ultimately need to file certain regulatory documents. Casinos have been used for money laundering a lot in the past, so will always come under massive scrutiny all along the chain, which is why there is a big push for KYC at so many casinos and bookmakers lately. If there is even the slightest hint that the money might have any dodgy connections, they will get black marks and after a certain amount of those they become too much of a risk to continue serving. The payment networks are ultimately the culmination of all this money and take on a large part of the risk, which includes jail time if they break the law.

[Sandra_hakeem]

There are very many ways to make payments regarding this issue, without getting involved with Payment gateways...if other secure means are made to be able to fund et make payments,then that alone can possibly break the monopoly...
I understand why they've decided to set-up a standard of such magnitude... Nobody wants to tarnish a name that's been known over the years, with a well trusted reputation... Why? Alot of fast rising casinos are getting tagged of being scammy and it's becoming very rampant... One must be careful .

Sandra 🧑‍🦰

[Oilacris]

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.

The reality is that any reputable financial company, including these payment gateways, that wants to transact in US dollars and other popular currencies like Sterling or Euros, will ultimately need to file certain regulatory documents. Casinos have been used for money laundering a lot in the past, so will always come under massive scrutiny all along the chain, which is why there is a big push for KYC at so many casinos and bookmakers lately. If there is even the slightest hint that the money might have any dodgy connections, they will get black marks and after a certain amount of those they become too much of a risk to continue serving. The payment networks are ultimately the culmination of all this money and take on a large part of the risk, which includes jail time if they break the law.

We know that money laundering is been a long time issue ever since and no matter what the payment processors or methods or companies that been involved would really be normally be getting in line

with government rules and regulations on which it would really be that a common approach which getting in line with those laws which its not something new or shocking anymore.Government wont really be that so dumb and blind about those possible loopholes on which tainted money or funds would really be able to pass through and this is why in most possible ways or holes that they could be able to get through then expect that they would really be always 1 step ahead with those people.

It is really just that sad that decentralized platforms or non-kyc turns out to be opposite on the time that this had been strictly implemented because of those probabilities or getting
in touch or integrate with those processors which are really that heavily compliant or regulated specially with fiat.

[LUCKMCFLY]

Well I don't see this as serious, in part sometimes it turns out to be even better, I know that many people trust a lot in the traditional money system, where for any movement they ask you for thousands and thousands of things so that money can move, what better here is one thing, it is clear, to pass everything to Bitcoin, and I know that it can sound very optimistic, but with that the weights are taken off, and if there is a lot of prbla there are many exchanges that are P2P and if you do not want To discover the identity, you can borrow an account from a person who does not give much importance to that and the exchange is made, and if it is for the tax, well, there is no way to pay the tax, I would do it that way, I would annoying to make transactions from crypto to fiat and that they have been deposited to banoc or something like that, they will always ask for the origin of the funds, and when they see that it is from a casino and that it is crypto they will turn on everyone's alarms and they will start to investigate much more, this is how everything works.

It is better a thousand times better to make transactions in cypto so that many problems are avoided, I know that many people are not used to making transactions with bitcoin for many reasons, but it is the best, then the system itself is saying it, it is as if it were speaking and If they said that it is not convenient to make mixed transactions directly from crypto to fiat to an account or to any bank, the best thing is to do things with the P2P market, in the case of whales, how do they do? snecillo with many wallets and they move them as they please, if they need to withdraw money, the amount they want they go to places where they know they buy crypto and there will be no problem, in all of them there is, because everything in each country There is the interest in crypto, in Binance itself if you want you can have an internal P2P trade, I think that's the best, so I don't see how something ur should not be alarmed and it is understood that the best thing for now is to have money in Bitcoin is the best and healthiest, well in my opinion, maybe I am very optimistic but I see it that way.

[ethereumhunter]

This is not accurate conclusion but maybe payment gateways are just avoiding the consequences of illegalities since some of the casino are used for illegal activities such money laundering and other illegal actions that's why they ditch the gambling activities to avoid any hassle coming from users who might encounter a problem regarding with this matter. Maybe best to use another crypto payment gateway that allow any type of transactions since there are some exist that doesn't give us any issues.

Of course, we will not know the real reason for the payment gateway to stop working with the casino. Maybe they really want to avoid complications or problems that might arise in the future. And if that payment gateway no longer works with the casino, crypto users can still use crypto for deposits and withdrawals. And so far, we have also done the same thing in many casinos where we use crypto to deposit funds, withdraw winnings, or gamble. So it's no problem for crypto users and I guess no problem for those payment gateway users too since they seem to know crypto pretty well too.

[Gozie51]

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.

I don't think there is something wrong with staying with what you already know how they are or doing business with outlets that you have spent longtime business atmosphere with. Moreover, it is reasonable to say that these fiat payment gateways are only trying to be safe in the government where they are operating to avoid bringing in new casinos that have some illicit deals and money laundered through them. However, I don't think new casinos should bother their head on fiat payment because quite a hand full of gamblers prefer privacy and are transacting more of cryptocurrency. I can't imagine linking my fiat bank account to a casino when I could just transfer crypto, that is the point.

[pawanjain]

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.

I don't think there is something wrong with staying with what you already know how they are or doing business with outlets that you have spent longtime business atmosphere with. Moreover, it is reasonable to say that these fiat payment gateways are only trying to be safe in the government where they are operating to avoid bringing in new casinos that have some illicit deals and money laundered through them. However, I don't think new casinos should bother their head on fiat payment because quite a hand full of gamblers prefer privacy and are transacting more of cryptocurrency. I can't imagine linking my fiat bank account to a casino when I could just transfer crypto, that is the point.

That is pretty much it. It's sad that new gambling sites won't have much flexibility with introducing fiat payments but it won't impact them much.
Since most gamblers prefer crypto deposits the gambling sites can continue without any fiat payments.
Besides that, gamblers who want to do fiat payments can deposit fiat on other platforms, exchange to crypto and then transfer it to the gambling site.

[Blitzboy]

I think people who play at crypto casinos use more crypto by buying crypto first on exchange sites then sending it to the casino, it seems a bit complicated but I'm sure it's been a long time and is often done so people think it's normal and not there are things that are troublesome, even so something that is actually easy don't make it difficult.

Slowly fiat to crypto payment gateway will no longer be needed. Gambling with cryptocurency is more entertaining to me than fiats as I get no attachment with gambling with cryptocurency like I do when I have to use my fiats in my bank account and others might feel the same.

It's easier to spend crypto as there isn't much we can use them for apart from trading, staking or holding. Gambling with them give us an activity we can always look forward to spending our profits made from holding, trading or staking cryptocurency and hope we make gains.

Casinos should encourage more cryptocurency payment and let go of fiat to crypto gateway. They should integrate crypto deposit and withdraw directly and watch how their casino will grow because more cryptocurency users are looking for reputation casino to gamble on.

The detachment you feel when gambling with cryptocurrency? I get it. It is liberating to use digital assets as opposed to hard-earned currency. I've felt that raw adrenaline while trading and staking, then moving my winnings to the online tables.

Casinos, take note, It is time to progress. Crypto is not only the future, but the present as well. Abandon obsolete fiat-to-cryptocurrency gateways and board the direct deposit and withdrawal train. There is a market of cryptocurrency enthusiasts like us who are searching for reputable casinos to place bets in a responsible manner. Adapt or become obsolete. This is a sure wager, not a mere gamble. Let's effect change.

[abel1337]

I think people who play at crypto casinos use more crypto by buying crypto first on exchange sites then sending it to the casino, it seems a bit complicated but I'm sure it's been a long time and is often done so people think it's normal and not there are things that are troublesome, even so something that is actually easy don't make it difficult.

Slowly fiat to crypto payment gateway will no longer be needed. Gambling with cryptocurency is more entertaining to me than fiats as I get no attachment with gambling with cryptocurency like I do when I have to use my fiats in my bank account and others might feel the same.

It's easier to spend crypto as there isn't much we can use them for apart from trading, staking or holding. Gambling with them give us an activity we can always look forward to spending our profits made from holding, trading or staking cryptocurency and hope we make gains.

Casinos should encourage more cryptocurency payment and let go of fiat to crypto gateway. They should integrate crypto deposit and withdraw directly and watch how their casino will grow because more cryptocurency users are looking for reputation casino to gamble on.

The detachment you feel when gambling with cryptocurrency? I get it. It is liberating to use digital assets as opposed to hard-earned currency. I've felt that raw adrenaline while trading and staking, then moving my winnings to the online tables.

Casinos, take note, It is time to progress. Crypto is not only the future, but the present as well. Abandon obsolete fiat-to-cryptocurrency gateways and board the direct deposit and withdrawal train. There is a market of cryptocurrency enthusiasts like us who are searching for reputable casinos to place bets in a responsible manner. Adapt or become obsolete. This is a sure wager, not a mere gamble. Let's effect change.

I feel that kind of detachment too when I use fiat in my gambling activities. I've recently played on a physical casino at our local place and I'm shocked that I'm very careful in every of my bets knowing that our local fiat is equivalent into something when you use it to buy something. It seems that after a long time, it's the time that the money I gamble just straight up came from my pocket which makes it hard for me to spend or lose in a casino. Maybe I've been drowned with the volatility of cryptocurrency that I don't really care about the value since assets fluctuate in prices.