Casinos after the shutdowns of mixers

[GxSTxV]

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.

[1714316545]

1714316545

[Wiwo]

We already have a discussion going on and i believe this topic is a duplicate of that other topic as relates to the banning of Bitcoin mixers services here on bitcointalk, and its implications on gambling sites which are much more widely different in nature and operations.

You may like to take a look at that thread:
https://bitcointalk.org/index.php?topic=5476393.msg63263816#msg63263816

[acroman08]

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.

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.

[BenCodie]

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 answer: more stringent KYC.

Is that right? Yes. Casinos are not designed for people to try and achieve privacy. By going to a casino with the primary and only intention to achieve privacy, fill in the blanks. It's not compliant.

How will casinos respond?
How they've responded before. Tighter KYC requirements.

...and as always, even legitimate players will be blindsided and held hostage to sacrifice their identity, their privacy, their sensitive personal information and so much more, just because they chose to deposit into a casino and then tried to withdraw after playing legitimately.

There is one way to keep legitimate privacy and security discussion alive on bitcointalk:
By adding a privacy and cyber security board to the forum

However, it seems theymos doesn't want to do that or even make a comment on it. My guess is because he is closer with LE's and what they want, over what the community wants. I don't blame him as it would come with the forum and it wouldn't be personal choice. It's still disappointing.

[komisariatku]

You may like to take a look at that thread:
https://bitcointalk.org/index.php?topic=5476393.msg63263816#msg63263816

Yes, the topic in this thread is actually almost the same as the thread you attached the link to

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.

Casinos are not effective for money laundering. Although there are some casinos that allow deposits and withdrawals without KYC, I am sure if the amount is large then the casino will ask for KYC. If an account has been KYCed then money laundering is deemed to have failed

I tend to be more confident that mixers will eventually require KYC for the security of their platforms. Additionally, there is another option using monero (XMR) which has higher privacy. However, getting monero without going through an exchange is also difficult unless using a decentralized exchange. However, I don't mind if money laundering is increasingly difficult to do in crypto because so far what has given crypto a bad image is that it is considered a place for money laundering. If crypto is no longer used as a place for money laundering then that would be great

[Hamphser]

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 answer: more stringent KYC.

Is that right? Yes. Casinos are not designed for people to try and achieve privacy. By going to a casino with the primary and only intention to achieve privacy, fill in the blanks. It's not compliant.

How will casinos respond?
How they've responded before. Tighter KYC requirements.

...and as always, even legitimate players will be blindsided and held hostage to sacrifice their identity, their privacy, their sensitive personal information and so much more, just because they chose to deposit into a casino and then tried to withdraw after playing legitimately.

There is one way to keep legitimate privacy and security discussion alive on bitcointalk:
By adding a privacy and cyber security board to the forum

However, it seems theymos doesn't want to do that or even make a comment on it. My guess is because he is closer with LE's and what they want, over what the community wants. I don't blame him as it would come with the forum and it wouldn't be personal choice. It's still disappointing.

For sure it had been tried for ages but money launderers cant really be easily be able to penetrate with gambling business or platforms out there if they would really be planning on making it as a medium
to launder money. Those are regulated businesses on which it they are really that getting in line with government rules and terms on which it is really just that a common thing
that they would really be that putting emphasis on whats been mandated and wont really be totally opposing on whats been put up if they do really want to run the business.
We've seen those KYC implementations and its not something new, launderers cant really be possibly be able to penetrate this.

Strict KYC rules? for sure it would be strenghten on the time that there would really be some focus in correlation to this specially Mixers are on the hotseat as of this moment.
Possible mediums for money laundering would really be monitored for now.

[notblox1]

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 this news will benefit casinos in bitcointalk forum, as long they dont break any rules they are going to be more visible with campaigns.
Most casinos are legal and registered to operate and they are advertising everywhere, not just in forum, you can see them on stadiums, youtube, club shirts and on many other places.
Maybe we are going to see some new big casinos joining bitcointalk to use this chance, and I see this as a good thing.

[GxSTxV]

We already have a discussion going on and i believe this topic is a duplicate of that other topic as relates to the banning of Bitcoin mixers services here on bitcointalk, and its implications on gambling sites which are much more widely different in nature and operations.

You may like to take a look at that thread:
https://bitcointalk.org/index.php?topic=5476393.msg63263816#msg63263816

True, there’s a discussion already going there about money laundering but it’s different as the OP of the topic is talking about the risks of shutting down casinos as well by authorities, in case they found any money laundering activities. It’s more risky now as they started with mixers, those usual users will go to casinos, we can’t really know the next move of this US anti decentralization.

Casinos now should go full secure and careful about any suspicious activities, probably more users will start depositing unusual amounts and gamble very safely. Smart and strong strategies to avoid such activities are needed in casinos at least so regular gamblers play safely without worrying.

[famososMuertos]

There is nothing special that has to happen, the casinos are prepared for this type of situation even before perhaps this news had any relevance, everything is defined in that you must read the TOC, there they establish maximum deposits and maximum withdrawals for 24 hours, weekly or monthly and in what amounts KYC is required, that is there in the crypto casinos and I don't think it will change in the short term due to this recent news about the mix.

[Wiwo]

There is nothing special that has to happen, the casinos are prepared for this type of situation even before perhaps this news had any relevance, everything is defined in that you must read the TOC, there they establish maximum deposits and maximum withdrawals for 24 hours, weekly or monthly and in what amounts KYC is required, that is there in the crypto casinos and I don't think it will change in the short term due to this recent news about the mix.

I have to agree with this comment,  casino are proactive on their approach to things and their for sees a lot of development and have put measure in place to checkmate all the possible challenges that may come along the way such as casino being accused for money laundering or being used to mix money,  this was check and mechanism was put in place to prevent such occurrence and such as the wagering requirements.

Take also another possible unrealistic attempt that did not work in casinos,  such as AI usage,  just as there have been some developments of AI in the trading market,  but when it comes to casinos,  the use of both or any form of external actors aside from the gambler is seen as a violation of their rules and that could result into account closer.

So for sure casino is always a step ahead of them all and that can be seen in their ability to safeguard themselves all through this time.

[Slow death]

Probably many users will join casinos for an alternative of mixer.

I talked about this in another thread and I'll repeat myself again, how the hell are people who use a mixer, a website that doesn't do kyc, people don't put their phone numbers, people don't run the risk of losing in a game because there isn't one no games on the mixer site, there is no obligation for the person to have to play because there is no game, so there is no such thing as a wagering requirement, so the person puts 1 btc and will receive close to 1 btc due to fees, the person did not run risk of losing every 1 btc, you would only take that risk of losing everything if you used a scam mixer. Another important point is that money launderers like to do things quickly

they put a lot of bitcoins in the mixer and in a short time they have their bitcoins cleaned, now look at the casinos, they are places with license, kyc and betting requirements and with that people who put money in the casino are forced to play in the casino, so An intelligent person who is in the world of money laundering crime would not waste time and would not be stupid to use a casino to launder money, it would be the same as asking to be arrested. I think we have to look at current casinos that are kyc, they are very different from past casinos that did not ask for kyc and as a result some criminals used casinos for bad activities

[yahoo62278]

Mixers will still exist, just not in this space. Someone isn't going to risk a 5 million dollar bet to launder their money I wouldn't think either and also risk the casino confiscating their money due to not being able to provide proof of income.

[danadc]

Casinos must take risks, the solution may be to make the Monero currency available, because it is the only currency that can provide privacy, but you see that if you continue to accept what is imposed, they will prohibit us from anything and We will have to say that yes, anonymity and privacy should be rights that cannot be compromised nor should governments or third parties intervene. The day will come when, if we want to buy bitocin, we will have to ask the government of the country for permission to see if it is approved and if Thus the government must receive a cut of what is purchased, because that is how we all are, in a world of mere submission.

Casinos that are decentralized have to improve their charging policies because they charge for everything. If the centralized casinos continue, I don't know what will happen to the forum because the companies leave and don't come back, and that doesn't look good. Some do not give importance to this but it is very important, privacy and anonymity, as it happens, it will already be a thing of the past, it is already being demonstrated.

[Hispo]

There is nothing special that has to happen, the casinos are prepared for this type of situation even before perhaps this news had any relevance, everything is defined in that you must read the TOC, there they establish maximum deposits and maximum withdrawals for 24 hours, weekly or monthly and in what amounts KYC is required, that is there in the crypto casinos and I don't think it will change in the short term due to this recent news about the mix.

You are correct there.
The main difference between casinos and those mixers if that mixers do not intend to comply with regulators and the KYC policy whatsoever, because it would go against the very own service they try to promote and advertise to potential users. On the other hand, privacy is not necessarily a feature which casinos center around, people go to a casino to wager money and have fun and as long as casinos continue to comply and ask for KYC, they are very unlikely to face problems like those faced by mixers. Though, even though I have never used a mixer (beyond some review campaign I participated in several months ago) I believe I will miss to see them around here in the forum, they had been an important part of our local culture as fas as I remember. Hopefully Monero won't be next in the list of things we will have to give up on.

[coin-investor]

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.

They have been taking a lot of preventive measures, casinos are legitimate businesses, and some casinos are even abusing the power they received from the Anti-money Laundering Council, I don't know how an abuser can cheat or manipulate casinos to launder money can cheat the system once but not all the time, the casino has a system that can trace manipulating that falls into money laundering.

Everything you do in casinos are traceable and detect all your deposits, withdrawals, your IP just about everything so if you're going to launder money using casinos they have all your fingerprint and they can trace your location and who you are and the authorities can easily catch you.

[Potato Chips]

snip

They should be OK still, imo.

Casinos comply by registering their business + implementing KYC/AML policies which authorities like. Most importantly, there's also the fact that mixers are pictured to be the go-to place of big criminals by the media which increased the noise e.g. lazarus group lol and crypto casinos for the most part aren't.

I tend to be more confident that mixers will eventually require KYC for the security of their platforms.

I sincerely hope not because that would essentially break the service. I would much rather use a no-kyc privacy oriented exchange like exch.cx.

[alani123]

This is a non-issue for casinos in my view.
There's very few of them that have zero KYC and among those you'd still have to find the ones that are pretty permissive with how they let you withdraw.
Most require to withdraw on the same currency after wagering your whole balance. But even if you find a casino that has no wager requirement for deposits...
So you deposit in a casino and withdraw back your BTC. What now?
Casino addresses are pretty easy to identify. So unless this casino has some epic volumes in the currency of your deposit, it's still possible to kind of approximate your address of destination. That's because casinos don't particularly deploy and coin mixing techniques. Just bi virtue of depositing to a custodial address and withdrawing to a new address doesn't mean that you have completely closed your trace. It might help a little on that regard, but is no mixer.

[Dave1]

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.

It's Theymos decision to ban crypto mixers here, but it doesn't mean that it's the end of the road for them, and so your title is misleading, there's no shutdown of mixers, they will continue to exist, not just being promoted here.

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.

No, casino's don't facilitate untraceable transactions because of KYC so I guess you are wrong in assumptions again.

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.

Again, how can it be casinos become the new mixer? The criminals would rather uses fly by night exchanges, and if you are not aware of, there are a lot of exchanges that was established to do that kind of thing, not casino.

[X-ray]

I have seen lots of licensed casinos and have you ever seen a licensed mixer?  

Told those mixers to implement KYC for their customers and got a license from the regulator. It may make those mixers will be unbanned again. You are obviously talking nonsense here.

The casinos have always made sure to comply with regulations, as there are many of them. Casino will be banning your account if there will be a suspicious transaction in your account. Have you ever encountered the criminals getting banned when they were using mixer?

Even the hacked case of stake related to the criminal act by lazarus group. Open your eyes!

[avp2306]

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.

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.