Casinos after the shutdowns of mixers

[PX-Z]

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

Unless people who wants to launder in casino approved their KYC. To be frank, casino's KYC procedure are more strict than exchanges to be precise and is really against to money laundering due to it's strict regulations.

Well, unless these launderers use unlicensed casinos who are more riskier to lost their funds after depositing there.

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[danherbias07]

Money laundering. There's another topic about this. Upon checking on the timeline of when the topic was created, it's just 4 hours difference so I guess you have not bumped to that thread yet while creating this one.

Well, like what I answered on the other thread, it's not easy to do that in the gambling industry. The wagering amount will be the problem before withdrawal so, they cannot just go in and out without sacrificing some of that money that they entered. Now, the other way is buying accounts but again, this will be a problem because it could lead to scam attempts and fake sellers will definitely take advantage of them.
Also, for big amounts, KYC is mandatory. Gambling sites are more strict now and I think that's the other reason why those who love privacy doesn't want to gamble.

[pinggoki]

don't they already have preventive measures to battle possible money laundering that are acceptable to the regulation(which is also provided to them) whatever license they have or wherever their gambling site's headquarters are? anyway, what I think they can only do here is be more strict on the money laundering rules they already have.

That's the purpose of the KYC, that's the best money laundering countermeasure that a crypto casino or a casino can offer against these syndicates, the problem with this one though is that it's going to cost the casino some of their patrons that may or may not be involved in a money laundering scheme which could be argued is bad for the business. That's the only way that casinos can be more strict about their rules, no water can be squeezed out as I like to say since KYC is already a good way to prevent these schemes, and whenever this happens, the casino has to choose between keeping their patrons or keeping the business because one has to go and the latter is the best one to keep from an entrepreneur's perspective unless you want the consequences of operating an illegal casino or license stripped casino then you can choose the former.

[noormcs5]

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

Wait a minute, what did you just say, money laundering through casino without a trace  

The big difference between the mixers and the casino is that the casino has made the KYC mandatory so in most of the cases, even if you try for money laundering your identity can be revealed on request by the authorities.

The second problem with the casino is that they won't just allow you to deposit and withdraw to another address. They will want you to wager (gamble) before cashing out. Think for a moment a money launder deposit in a casino, try to wager and lose everything and be unable to do the money laundering  

[milewilda]

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

Wait a minute, what did you just say, money laundering through casino without a trace  

The big difference between the mixers and the casino is that the casino has made the KYC mandatory so in most of the cases, even if you try for money laundering your identity can be revealed on request by the authorities.

The second problem with the casino is that they won't just allow you to deposit and withdraw to another address. They will want you to wager (gamble) before cashing out. Think for a moment a money launder deposit in a casino, try to wager and lose everything and be unable to do the money laundering  

Totally clear that he doesnt know on what he's talking, if he do just know that casinos are really that strict when it comes to huge transactions specially on deposits then for sure they would be mainly be asked for some verification and come to think that no money launderers that would be having on their right minds on making use of casinos to launder or cleanse up those funds considering that in every deposit you would really be needing to wager up x1 of your balance on which means that they cant really took up the risks on doing that and this is why it would be never a good idea for them to have that kind of option since they do know
that they could really be that ended up on blowing up all of those balances plus they cant really be just that too careless and too dumb on giving their information.

So i dont really see the connection about this current shutdown of mixers into gambling sites or platforms. For sure to those people who had been using mixers to launder money then they would really be
finding out places for them to clean those dirty money but pretty sure they wont really be making gambling platforms as their alternative options on which it cant
really be that so possible.

[dansus021]

two different sites meaning two different businesses I think is not gonna move much. So they serve different purposes. Mixing service is to enhance the privacy but gambling is a game for fun that involves money, when the admin of the forum to banned any mixer site i think mixer is totally dead because of the rules but maybe the some mixer owner consider open new gambling sites but who knows.

[moneystery]

what distinguishes between mixers and gambling platforms is that most gambling platforms are more open to regulators and they make kyc an important thing to their users. the gambling platform is also obedient to the anti -money laundering rules and other regulations, which all this action makes the gambling business more considered "friendly" by the government, different than the mixers who seem closed and difficult to crackndown by the government.

as long as the gambling platform is obedient to the regulations that have been set by the government and more open, it seems there is no reason for the government to disturb their business.

[Westinhome]

Numerous bad news and developments unfolded this past week, mainly impacting privacy and decentralization. The recent crackdown by United States authorities on well known mixers has serious implications for users and even businesses or projects. Mixers were originally designed to keep users anonymity, and the current situation appears to be so harming for both sides and a slap for bitcoin users as well.

The worse news, is mixers will no longer be allowed in Bitcointalk for any kind of promotions or even discussions. Along with the risk of getting banned because of that means ; Mixers are dead here in BTT.

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

The close of mixers to the forum was the bad news for us,because many people working for the mixer.But we should respect our admin rules,we should not allow the money laundering in any form.This will not affect the crypto based casinos and gambling sites.Because gambling had their own audience,So the demand for crypto currency is always their for the gambling site.The trading of the crypto currency also in peak now due to the crypto currency bull market now.The mixer ban will impact the price of the crypto currency,because all the mixer will cash out their huge crypto currency.So we can expect the crypto currency bear market in the short while,maximum the january month beginning.

[Gozie51]

I think the ban on mixers will not primarily affect casinos. In the first place they are regulated and before now many of them hold on to KYC requirements in their terms and conditions, so it is still as before to check for illicit transfers and money laundering. So it is still generally as business as usual, I don't think anything has changed.

[Yamifoud]

I think the ban on mixers will not primarily affect casinos. In the first place they are regulated and before now many of them hold on to KYC requirements in their terms and conditions, so it is still as before to check for illicit transfers and money laundering. So it is still generally as business as usual, I don't think anything has changed.

Casinos will remain as they are compliant with the law, unlike Mixers which are not regulated and it can be easily use for money laundering. With casinos, everything needs to be black and while, if you are a user, you transact big money, you need to comply with the casino not only with your information but also their documents too, in addition, your IP address will be link so casinos will know your location as using VPN to hide it could somehow compromise your account.

[Adbitco]

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

This should be unthinkable because there no way someone would sent a huge amount of money into casino just for the sake of trying to mixe coin and get another out of currency does this sound wise and normal?
No because comparing to how frustrating it's for a user start using casino going through all kinds of kyc and documentations just for them to get their money out of the casino, beside some casino may have a deposit and withdrawal limits.

[ethereumhunter]

Crypto casinos will still operate but they will tighten the regulations because government supervision will also be stricter on the crypto casino business. The government wants to prevent crypto casinos from becoming the next venue for money laundering after some mixers are closed. The closure of the mixer is also a strong warning to businesses that are still carrying out money laundering practices so these businesses will gradually experience problems if they do carry out money laundering practices. Crypto casinos will probably increase the supervision of their members, especially those who often use large amounts of money for their deposits and want to ensure where the funds come from. And as long as crypto casinos comply with the regulations run by the government, crypto casinos can still run their business.

[freedomgo]

The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

They're not gonna do that as they are aware of the consequences of their actions.

Casinos are regulated, they are bound to follow the rules impose by their regulators, once they violated it, they will lose their license and possibly a lawsuit will be coming. So just relax mate, nothing will happen to the gambling industry as this AMLC (Anti Money Laundering Council) is only targetting criminals and they required casinos to cooperate, only those who are not cooperative will be at risk for business closure.

[_act_]

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

Gambling sites are not mixer, there is no challenge that gambling sites are facing or that will be faced if talking about what happened recently. The government do not like mixers. Or let me put it like this, the United States government do not like mixers, this is because mixers are helping hackers to mix coins, making it hard to trace. But casinos are not like that. Casinos are following the anti-money laundering and counter terrorism policies unlike mixers. Casinos are regulated.

[Kakmakr]

We all knew it was just a question of time, before countries start working together to stop these mixing services.    I think the people using these mixing services, will probably just move over to privacy coins or things like "Coinjoin" type services.

Yes, I agree that people need pseudo anonymity to protect their financial privacy, but unfortunately a large amount of criminals also use these same services and that is where it has gone all haywire. 

[Mr. Magkaisa]

Numerous bad news and developments unfolded this past week, mainly impacting privacy and decentralization. The recent crackdown by United States authorities on well known mixers has serious implications for users and even businesses or projects. Mixers were originally designed to keep users anonymity, and the current situation appears to be so harming for both sides and a slap for bitcoin users as well.

The worse news, is mixers will no longer be allowed in Bitcointalk for any kind of promotions or even discussions. Along with the risk of getting banned because of that means ; Mixers are dead here in BTT.

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

      -   I think that's exactly what will happen; anything related to that is no longer possible. Now,  with the casinos, I also think that the casinos can't do anything about that either. Because gamblers also often use that, now we just don't know if it's good or bad.

And then it's for the sake of the community here on the forum platform. From what I can see, the solution is also visible. We know that this forum platform is also a big thing to everyone here on this forum.

[len01]

some of the popular casinos here apply KYC to slightly screen out money laundering, I mean maybe by implementing KYC the casino can prevent money laundering although some can get away with it but as other people have said, casinos that have implemented KYC are usually licensed casinos and there are many rules regarding things against money laundering and the bad impacts that are currently happening will not have a negative impact on the casinos in this forum and there is no need to worry because casinos always have a valid license and can prevent money laundering or the proceeds of any crime.

related to many people joining gambling, it could happen and maybe the forums will again be filled with new casinos that will appear promoting here.

[TravelMug]

We all knew it was just a question of time, before countries start working together to stop these mixing services.    I think the people using these mixing services, will probably just move over to privacy coins or things like "Coinjoin" type services.

Not sure though, it was just the US who are really into this, going after mixing services because they said it is being used by criminals specially by the North Korean state sponsored hacking group such as Lazarus and others groups.

Yes, I agree that people need pseudo anonymity to protect their financial privacy, but unfortunately a large amount of criminals also use these same services and that is where it has gone all haywire. 

There's no more pseudo anonymity now, everyone is mandated by these regulators to have KYC including gambling platforms. But I don't see casino those affected by the shutdown of mixers, criminals will have to look for other means to launder their money and maybe still uses mixing services but it won't be promoted here in our community.

[Russlenat]

We all knew it was just a question of time, before countries start working together to stop these mixing services.    I think the people using these mixing services, will probably just move over to privacy coins or things like "Coinjoin" type services.

They can't stop it easily if after a certain site is block another one will be created, it's just like a repeatitive process or a waste of time on their part. What the government will probably targeting are the platforms that are supporting this mixing service because they made it more popular, and probably that's one of the reasons why our admin considered banning the promotion of mixers in our forum.

Yes, I agree that people need pseudo anonymity to protect their financial privacy, but unfortunately a large amount of criminals also use these same services and that is where it has gone all haywire. 

And the government has no choice but to BANNED them all.

But..  let us not fear the fate of gambling as it will stay, the government have controlled it through regulation and they are benefiting from this, unlike mixers where they didn't

[Weawant]

Maybe they respond to comply with new directives coming from administrators and for sure they would do some necessary measure like having a KYC on their platform so that they will not get banned the same with mixers. I also don't think that KYC compliant casino will be the main destination of people especially those criminals since those current running mixers are only banned in this forum and they can still operate outside so provably they continue and those people who always use their service would still use them to wash their dirty coins.

If there changes would happen here after January 1? Maybe we can't see it for now but let see what will happen next year.

KYC is the biggest way out for casinos not to get caught up with the whole money laundry saga. We are aware some casinos do not make mention of KYC at registration and some literally don't ask for it at all but then in other to be accountable about their users and be able to get their self out of involvement in issues such as this, they may need to initiate compulsory KYC policies.

Criminals will definitely not wan to patronize KYC compliant casinos because they will no longer be anonymous with their iligalities, but then aside crypto deposit which can be made anonymous via mixing, other means of deposit could actually be tracked and that's why most criminals would rather fund with cryptocurrency than Fiat or bank transfer, if casino employ policies that restricts funding from anonymous cryptocurrency address I think it's another way out of this too but then it will be bad business for mixers.