Casinos after the shutdowns of mixers

[Questat]

Hopefully, nothing serious will happen to the casino, and the crypto casino can still run as usual. We can also use crypto casinos for gambling, as we have used before.

Of course, a casino will only be close or "something will happen to them" if they'll violate the law. Others that are in compliance with the law, they can continue to operate.

But when the casino finds something suspicious in a gambler's account, they will investigate it thoroughly, and the casino may ask the gambler to verify their account to ensure that their suspicions are no longer necessary.

That doesn't make sense, if they will investigate and find some activites that are against the TOS, KYC would not save an account from being freeze or confiscated as casinos won't tolerate cheating, a way to protect their asset to run profitably.

But the government can do something about casinos, especially casinos that are suspected of being places for money laundering. The government will tighten its supervision of the casino in case there are illegal activities carried out by members of the casino so that the government can follow up by contacting the casino. The government could require casinos to ensure that their members do not do anything illegal.

Thave have already tighten their supervision, this is to prevent money laundering, and if a casino does not comply on the regulation, simple, they'll close shop and will face lawsuit.

[0t3p0t]

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.

People who are involved in illegal activities will always find loopholes and ways to successfully transfer any amount of money intended for any illegal activities or simply just bribes. If SEC will find any traces of unusual activities from casino accounts I think owners of these platforms knew what will happen to their businesses. We all know that legitimate gambling sites is following the rules and regulations given to them by SEC.

[Crypt0Gore]

Casinos are friendly to the government and that's why they will never have any problem with the law unless they don't register the casino, also I think you should know that the governments are also benefiting out of casinos, there are some countries that casinos are play a big role in development of the countries, you might not have hear this a lot but it is happening even in my country.

Some of the casinos can be doing something illegally, even the those regulators can know about it and refuse to keep shut since the casinos are paying them some huge amount of money, but the same can't be with mixers, because mixers are not transparent to the government and they will never like the idea, the government always want to know what happening, they always want to be in control of everything, that's why mixers will always have problem with the law.

Many said that Mixer users are not all criminal, but honestly there is no way to know if they are or they are not, because nothing is opened to the public when it comes to mixers, it's why the government are pissed with mixers and believe that it's a good place for moving illegal funds for illegal activities, mixer isn't made for someone like me, as I don't see why I will want to hide my transaction, when the money isn't dirty money.

[coin-investor]

Many said that Mixer users are not all criminal, but honestly there is no way to know if they are or they are not, because nothing is opened to the public when it comes to mixers, it's why the government are pissed with mixers and believe that it's a good place for moving illegal funds for illegal activities, mixer isn't made for someone like me, as I don't see why I will want to hide my transaction, when the money isn't dirty money.

Mixers do not pay taxes, no license even though they are dealing with money so it is an unregulated industry, and since it unregulated it's free for all good users and bad actors like hackers and scammers can avail of their service, and the authorities will shut any mixers that deals with scammers and mixers cannot do anything about it since they have no parameters to make their platform safe from bad actors.
And I don't think mixers will ask for KYC from their clients.
If one mixer changes their terms and asks for KYC to keep their platform safe, I don't think all the other mixers will follow their lead, they are going to lose clients who want to anonymize their transactions.

[qwertyup23]

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.

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.

Remember that gambling contributes to the overall revenue of a certain country.

To give you an example: in the Philippines, the Philippine Amusement and Gaming Corporation (PAGCOR) is a government-owned corporation in which it presents itself as a gambling institution. It is responsible for providing a revenue of around $904 million, which is the largest among all the income streams generated by the government.¹ Not only does the government benefit from gambling, it also creates a mechanism which enables them to create certain activities and programs for the society.

While mixers are going to be prohibited, I doubt that gambling companies would be affected in this move.

1 https://igamingbusiness.com/finance/pagcor-revenue-first-nine-months/#:~:text=95bn%20(%C2%A3811.4m%2F%E2%82%AC,through%20to%2030%20September%202023.

[robelneo]

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.

Nothing will change people who want to anonymize their coins will still use mixers, because casinos as an alternative is a risky alternative, scam accusations is one of the section I posts and I have seen so many ridiculous way casinos ask their users when it comes to verifying the source of their account so its not something a money launderer will go through or risks doing because they think casino is a good alternative.
Casinos on your slight mistake will accuse you a money launderer so if you intend to launder they can easily flag your account

[Davidvictorson]

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.

Mixers can never cease to exist. It is for-profit business for people and they will keep finding a way to stay in business and remain profitable because they have a huge customer base. Casinos are not mixers, they thrive on being opened and transparent in their dealings because the bulk of their customers are not looking to high stolen funds rather they are looking to make money. It is going to be difficult to not get noticed if a large amount of money is deposited in your casino wallet either as a newly registered account or as a old time member that will not raise some dusts. Our casino accounts are being monitored.

[noormcs5]

Many said that Mixer users are not all criminal, but honestly there is no way to know if they are or they are not, because nothing is opened to the public when it comes to mixers, it's why the government are pissed with mixers and believe that it's a good place for moving illegal funds for illegal activities, mixer isn't made for someone like me, as I don't see why I will want to hide my transaction, when the money isn't dirty money.

Mixers do not pay taxes, no license even though they are dealing with money so it is an unregulated industry, and since it unregulated it's free for all good users and bad actors like hackers and scammers can avail of their service, and the authorities will shut any mixers that deals with scammers and mixers cannot do anything about it since they have no parameters to make their platform safe from bad actors.
And I don't think mixers will ask for KYC from their clients.
If one mixer changes their terms and asks for KYC to keep their platform safe, I don't think all the other mixers will follow their lead, they are going to lose clients who want to anonymize their transactions.

Well, the casinos are not illegal nor they are declared illegal by the government and in many parts of the world running or playing at online or offline casinos is not considered a bad practice, so they are safe.

Maybe we should not compare the mixers with casinos, as both are different in terms of everything including the use cases. Also, if mixers start to ask for the KYC, then the whole purpose of mixing the coins goes in vain as we need to remain anonymous and do not want to link the coins and remove the traces and if we have done the KYC, then mixers lose their concept of mixing the coins.

[fullhdpixel]

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.

Not all casinos are regulated, so maybe those are the ones who won't survive in the long run because after this sad news, the customers of the mixers could transfer on them. But regulators are smart enough to know this, and they can act as soon as possible.

Casino is a business but what about the mixers? Aren't they also a business? And maybe their main aim is only to provide more privacy to the users of Bitcoin and other cryptocurrencies which are not that anonymous as Monero and the likes. It is only sad that regulators and others think in advance and think that mixers are only helping the criminals to get away with their crimes fast. Sigh!

[ryzaadit]

Do you know?

Casino is a good business for money laundry, even our self can laundry on there without the lawforce take some action. The only problem, they just need to passed 1x Deposit Rules. With the recent mixer case.

It's not gonna to change anything and effecting casino, no need to worry.

[Mr.suevie]

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.

Well everyone knows this and even the government knows and that's why they are also after the big casinos especially those that claim KYC free because thats the only way they can run this idea of looting big funds through the casino. So with this taught already there, the casino are now forced to implement a KYC for all their customers so as to track major big deposit and Withdrawal from their system so as to know the individual for record tracking.

[maydna]

~snip~

Of course, a casino will only be close or "something will happen to them" if they'll violate the law. Others that are in compliance with the law, they can continue to operate.

Yes, trusted casinos will follow the regulations because they definitely still want to continue their business and make a profit. They will be even more aggressive in promoting because there is a government that will protect them if there is a problem. After all, they have followed government regulations.

~snip~

That doesn't make sense, if they will investigate and find some activites that are against the TOS, KYC would not save an account from being freeze or confiscated as casinos won't tolerate cheating, a way to protect their asset to run profitably.

At least the casino can safeguard its business from activities that violate its TOS. Casinos can also investigate the accounts of gamblers who are considered or suspected of violating their rules. Moreover, there is supervision from the government. Casinos will not dare just let it go.

~snip~

Thave have already tighten their supervision, this is to prevent money laundering, and if a casino does not comply on the regulation, simple, they'll close shop and will face lawsuit.

Yes, that is true, and it will make the casino always try to comply with the regulations that the government applies to its casinos. And the casino will also seek to tighten its oversight of all its members. So let's see what will happen after the mixer case.

[boyptc]

All of those are possibiities.

But I don't think that they're going to take it seriously when majority of them are registered and have a trademark unlike the mixers that have unknown developers or owners behind.

Maybe they'll take it as a precaution to do their jobs better and monitor more players accurately. Other than that, I don't see something serious that shall go with the casinos.

Hopefully, nothing serious will happen to the casino, and the crypto casino can still run as usual. We can also use crypto casinos for gambling, as we have used before. But when the casino finds something suspicious in a gambler's account, they will investigate it thoroughly, and the casino may ask the gambler to verify their account to ensure that their suspicions are no longer necessary.

But the government can do something about casinos, especially casinos that are suspected of being places for money laundering. The government will tighten its supervision of the casino in case there are illegal activities carried out by members of the casino so that the government can follow up by contacting the casino. The government could require casinos to ensure that their members do not do anything illegal.

Don't think of it too much.

As long as they're paying their taxes, they're registered, they are licensed. There's nothing gonna happen to them just because some mixing company have been taken down.

I know that the worry is there because money laundering is no question in these casinos. But there should be a news already before if they're also on the hot seat of the regulators.

[Wakate]

Many said that Mixer users are not all criminal, but honestly there is no way to know if they are or they are not, because nothing is opened to the public when it comes to mixers, it's why the government are pissed with mixers and believe that it's a good place for moving illegal funds for illegal activities, mixer isn't made for someone like me, as I don't see why I will want to hide my transaction, when the money isn't dirty money.

Mixers do not pay taxes, no license even though they are dealing with money so it is an unregulated industry, and since it unregulated it's free for all good users and bad actors like hackers and scammers can avail of their service, and the authorities will shut any mixers that deals with scammers and mixers cannot do anything about it since they have no parameters to make their platform safe from bad actors.
And I don't think mixers will ask for KYC from their clients.
If one mixer changes their terms and asks for KYC to keep their platform safe, I don't think all the other mixers will follow their lead, they are going to lose clients who want to anonymize their transactions.

There is no way mixers will ask for KYC just like the centralized exchanges that love tracking there users and know how they really are.  Most of the mixers we have are working without license and they can easily still from users. We need to understand what the industry really is and what is ethical for users. Mixing coin at first is not bad but .any scammers had gain an opportunity for mix stolen coins that is why they are not afraid to mix the coin and sell it to whosoever they want to it to. We need to be careful about mixers even though that are not always having the intention of having scammers as users but they can be affected in a long run.

[Falconer]

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.

KYC and AML would prevent that, so I don't think the government would bother disclosing more facts if a lot of people were using casinos to money laundering activities. The casino will also do more research on it and will be more aggressive in warning users who have illegal activities, so things won't be easy even if casino money laundering exists.

Bitcoin is not for illegal actions, but some people who use it for illegal activities and that's difficult to stop. Bitcoin's bad image should disappear because mixers don't exist, but mixers are not for dealing with illegal activities, just like casinos too.

[maydna]

~snip~

Don't think of it too much.

As long as they're paying their taxes, they're registered, they are licensed. There's nothing gonna happen to them just because some mixing company have been taken down.

I know that the worry is there because money laundering is no question in these casinos. But there should be a news already before if they're also on the hot seat of the regulators.

Yes, we should not think too much about it because well-known casinos will always try to comply with the regulations issued by the government. They won't try to break the rules even once because that could get the casino in trouble, and they might end up paying a fine for breaking the rules.

Money laundering cases will definitely continue, but people who launder money may also have found other ways or places to continue laundering money. We must stay at the casino that we have used to gamble, and that casino must be trusted and popular.

[cabron]

~snip~

Don't think of it too much.

As long as they're paying their taxes, they're registered, they are licensed. There's nothing gonna happen to them just because some mixing company have been taken down.

I know that the worry is there because money laundering is no question in these casinos. But there should be a news already before if they're also on the hot seat of the regulators.

Yes, we should not think too much about it because well-known casinos will always try to comply with the regulations issued by the government. They won't try to break the rules even once because that could get the casino in trouble, and they might end up paying a fine for breaking the rules.

Money laundering cases will definitely continue, but people who launder money may also have found other ways or places to continue laundering money. We must stay at the casino that we have used to gamble, and that casino must be trusted and popular.

I think those who launder big time know their transactions are traceable if they do it on a blockchain. As long as cash can still be used, they will be doing it on cash on the traditional casinos too. Mix their money on the casino's stash, minus the tax, and it's clean.

What is worrisome in the forum is if the government will also try to regulate the advertisements of casinos on the internet including crypto which bitcointalk has heavily being the biggest crypto gamblers pad.

[Wapfika]

KYC and AML would prevent that, so I don't think the government would bother disclosing more facts if a lot of people were using casinos to money laundering activities. The casino will also do more research on it and will be more aggressive in warning users who have illegal activities, so things won't be easy even if casino money laundering exists.

Bitcoin is not for illegal actions, but some people who use it for illegal activities and that's difficult to stop. Bitcoin's bad image should disappear because mixers don't exist, but mixers are not for dealing with illegal activities, just like casinos too.

Money launderers is now very creative since they are betting like a regular gamblers and willing to take risk just mix their dirty money. I remember reading a post here coming from casino representatives that laundering is still happening in the casino industry despite being strict on stopping any possible laundering since their bonus and vip rewards is being exploited to help laundering money easier.

The only way casino can stop laundering is by checking every deposit source which is very hard to maintain especially if you have tons of player actively making deposits and withdrawal.

[boyptc]

~snip~

Don't think of it too much.

As long as they're paying their taxes, they're registered, they are licensed. There's nothing gonna happen to them just because some mixing company have been taken down.

I know that the worry is there because money laundering is no question in these casinos. But there should be a news already before if they're also on the hot seat of the regulators.

Yes, we should not think too much about it because well-known casinos will always try to comply with the regulations issued by the government. They won't try to break the rules even once because that could get the casino in trouble, and they might end up paying a fine for breaking the rules.

Money laundering cases will definitely continue, but people who launder money may also have found other ways or places to continue laundering money. We must stay at the casino that we have used to gamble, and that casino must be trusted and popular.

Well, that's a fact that money laundering activities will keep on happening and those that with lots of money that came from bad activities will still continue to do it.

While for those that are just casual gamblers, want to have some fun will probably be accused by the casino where they gamble because it happened to some users that they've been falsely accused.

The only way casino can stop laundering is by checking every deposit source which is very hard to maintain especially if you have tons of player actively making deposits and withdrawal.

It will take time if they're going to do that but with automation and AI, maybe possible.

[Latviand]

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.

Exactly, this is the argument that I've been looking for in a long time and I can't put it into words so thank you! Crypto casinos are not mixers that you don't have to identify yourself to use their services, they're an entertainment industry with the goal of having to milk as much money from you as possible and it's strange that people want this type of privacy casino like what? You're only playing with slotss and most of the names that you use in these sites are just usernames, it's not like they're forcing you to use your real name and most of the time, the KYC information that they've got of you is private and can't be viewed by other people checking your profile anyway.