Why they need a license if bitcon is not money?

[promise444c5]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself ....

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[bitterguy28]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself ....

if the government is truly concern about the casino and the players itself then lets thank them completely 

But I doubt that this is the main reason why government is acting such but for me? they are acting for themselves because We knew how much money is flowing in every casinos and indeed  they might be checking if how much they can gather having all these regulations and requirements .

[arwin100]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself ....

if the government is truly concern about the casino and the players itself then lets thank them completely 

But I doubt that this is the main reason why government is acting such but for me? they are acting for themselves because We knew how much money is flowing in every casinos and indeed  they might be checking if how much they can gather having all these regulations and requirements .

Maybe some of them are just concern on what happen to their citizens but there are also part that they are thinking that there's a lot of money involve in that industry that's why they try to regulate it so that maybe they can gain something in return. That's why there's KYC happening since maybe they want to know who are those people participating on those casino and to get something once they want to impose some taxation or anything that can possibly force those people to provide something for the government. But for me as long as there's no banning happen I am fine with this since we can still decide what to do but we just need to do something so that we can completely do whatever we want without getting any issue to legal side.

[Wiwo]

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself .

The majority of the casinos without licences only run for a few months or years but doesn't have the capacity to run the operation for a long time since at anytime the government get through to them it will definitely become the end of their operations.

So for contemporary casinos that have long term in views it will be very necessary to get the license needed to operate as legal company and at that will implement KYC to comply with government demands.

[Russlenat]

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself .

The majority of the casinos without licences only run for a few months or years but doesn't have the capacity to run the operation for a long time since at anytime the government get through to them it will definitely become the end of their operations.

So for contemporary casinos that have long term in views it will be very necessary to get the license needed to operate as legal company and at that will implement KYC to comply with government demands.

Of course, the government will see it once the business gets bigger and they'll require them to get a license or ban them.

However, what can you say about the growing popularity of Web3 Dapp games or gambling? I saw a lot of platforms being promoted in the forum already and they are getting a lot of bets, can they disrupt the gambling world? How would the government regulate it then if it's decentralized?

I see some decentralized casino before to be not worth playing but it has become competitive now with this web3 Dapp, so it's easier for the gambler to trust it since they are using a non custodial wallet, we link our wallets and we can withdraw anytime.

[CryptSafe]

Government is just a funny body that think they can do anything and whatever the want. Well for the fact that they are issuing licence to casinos, means that they want money but not just money anyways for documentation purposes but however, casinos are business ventures and as such the government would want to take task from them because her citizens patronise them for services which means the casino too are making huge revenue from them coupled with the fact that most do not win the games rather they lose their money and are not compensated because they are gambling.
Possibly these are amongst the reasons why government are hell bent on taking tax from casinos and issuing them operational license because they too want their own share of the cake the casino take from gamblers.

[Fivestar4everMVP]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

On the norm, a business that is operating on a global scale should have a license to operate, most especially if the business of one where money possibly leaves a country into another country through the gamblers that are gambling on the casino from different parts of the world, and government know gambling casinos to be money magnet, since everyone wants to make money easily and quickly, most usually turn to gambling as the only means through which that desire can be fulfilled, and casinos are programmed to always be in profit in the long run, regardless of how much gambler win or won.

And speaking on kyc, I think the major issue here is that, government believe that bad eggs can use casinos to launder money if that casino is one without a license, and as such, does not subject their users to any form of kyc, governments want to make sure they catch any one who is laundering money out of their country through illegal means, and as such, this is why it's mandatory for all money transmitters, which gambling casinos are also part of, to obtain and an operational license which automatically gives that casino the legal right to request kyc verification from any user for what ever reason, or even without a reason, but as a mandatory requirement before the user can be granted access to the casino's services.

[paxmao]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself ....

if the government is truly concern about the casino and the players itself then lets thank them completely 

But I doubt that this is the main reason why government is acting such but for me? they are acting for themselves because We knew how much money is flowing in every casinos and indeed  they might be checking if how much they can gather having all these regulations and requirements .

In theory, the government is actually everyone in the sense that money evaded from the governments does not get spent in the general interest of people so governments tend to prevent anything that escapes their financial control so dealing with crypto or casinos is the same: make sure you get money while making sure there is enough incentive to keep the business going.

[promise444c5]

Maybe some of them are just concern on what happen to their citizens but there are also part that they are thinking that there's a lot of money involve in that industry that's why they try to regulate it so that maybe they can gain something in return. That's why there's KYC happening since maybe they want to know who are those people participating on those casino and to get something once they want to impose some taxation or anything that can possibly force those people to provide something for the government. But for me as long as there's no banning happen I am fine with this since we can still decide what to do but we just need to do something so that we can completely do whatever we want without getting any issue to legal side.

Casinos are hot cake to government in my opinion because casinos  make and control alot of monetary  funds and some  even use this casinos  for money laundering  so far it's  not obvious  and cash is been spent so there's no way government won't  be after them and truly if we are to consider  anything  legal  in a country or statethen it must be licensed , legalised  and backed up by the government itself, either way government wins no matter what

[rodskee]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Freebitco.in may not be as big as Stake but they are big enough to really ask for KYC but
they choose not to meaning that they are a bit better than those who continues to ask for KYC.

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

Casino is the money making machine of government meaning they will keep asking
for portion of profit from casino owners in which the owners will take those funds from players.

[bitterguy28]

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being  noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself ....

if the government is truly concern about the casino and the players itself then lets thank them completely 

But I doubt that this is the main reason why government is acting such but for me? they are acting for themselves because We knew how much money is flowing in every casinos and indeed  they might be checking if how much they can gather having all these regulations and requirements .

In theory, the government is actually everyone in the sense that money evaded from the governments does not get spent in the general interest of people so governments tend to prevent anything that escapes their financial control so dealing with crypto or casinos is the same: make sure you get money while making sure there is enough incentive to keep the business going.

Nice point there mate and yeah I think i get that completely and indeed that I missed this part part when I am analyzing this concept of topic , or maybe I lived  in the country where corruption is really in place so i have a little respect when in terms of money making.

[shield132]

That's a great answer, the license is a part of the 3rd party games, and is the way to trust those non-provably fair games. Some users like to play those fancy slots even if they can't verify the rolls, but they feel the game was fair for the simple fact that the site has a license.

Just to conclude the topic, a license is not a warranty for the users. We have seen a lot of licensed casinos who has a terrible reputation, but their marketing strategies is so strong that they keep getting new users, and more than 50% of those new users will end up having a bad experience.

Thank you. Yeah, a license means nothing because there have been many websites with a license but still scammed. In crypto casinos, the license is not a guarantee of a casino being honest and 100% payable. There is 1xbit with Curacao license that has always been scamming people, they still scam and because of the marketing, they are able to still attract new customers. They are licensed but it doesn't help, as far as I know, no customer has taken their deserved money from them.
As far as I remember, freebitco.in and bustabit.com didn't have a license but to this day they have not scammed anyone. Now both of them have a license but they were as trustworthy before acquiring a license as they are today.

[Fivestar4everMVP]

That's a great answer, the license is a part of the 3rd party games, and is the way to trust those non-provably fair games. Some users like to play those fancy slots even if they can't verify the rolls, but they feel the game was fair for the simple fact that the site has a license.

Just to conclude the topic, a license is not a warranty for the users. We have seen a lot of licensed casinos who has a terrible reputation, but their marketing strategies is so strong that they keep getting new users, and more than 50% of those new users will end up having a bad experience.

Thank you. Yeah, a license means nothing because there have been many websites with a license but still scammed. In crypto casinos, the license is not a guarantee of a casino being honest and 100% payable. There is 1xbit with Curacao license that has always been scamming people, they still scam and because of the marketing, they are able to still attract new customers. They are licensed but it doesn't help, as far as I know, no customer has taken their deserved money from them.
As far as I remember, freebitco.in and bustabit.com didn't have a license but to this day they have not scammed anyone. Now both of them have a license but they were as trustworthy before acquiring a license as they are today.

Well, you are right, this is same thing I said about casino and their operational licenses like several weeks ago.
License is never a guarantee that an online gambling casino can be trusted, I can say or tell you that most of the casinos who obtained this licenses only do so for probably two reasons...

1. To be recognized as a business by the government issuing the license, this possibly enables the casino to pay taxes as a business, to avoid harassment and possible sanctions in the future, for tax evation and other related offences.
2. To appear as a well recognized and legitimate business in the eyes of users, you will agree with me that, even though having a license is no longer a guarantee that a casino can be trusted, most have gamblers, especially those with big bags of money, may like choose a licensed casino over an unlicensed one, as they feel some level of security when playing on a government recognized casino.

This is my thought.

[topbitcoin]

That's a great answer, the license is a part of the 3rd party games, and is the way to trust those non-provably fair games. Some users like to play those fancy slots even if they can't verify the rolls, but they feel the game was fair for the simple fact that the site has a license.

Just to conclude the topic, a license is not a warranty for the users. We have seen a lot of licensed casinos who has a terrible reputation, but their marketing strategies is so strong that they keep getting new users, and more than 50% of those new users will end up having a bad experience.

Thank you. Yeah, a license means nothing because there have been many websites with a license but still scammed. In crypto casinos, the license is not a guarantee of a casino being honest and 100% payable. There is 1xbit with Curacao license that has always been scamming people, they still scam and because of the marketing, they are able to still attract new customers. They are licensed but it doesn't help, as far as I know, no customer has taken their deserved money from them.
As far as I remember, freebitco.in and bustabit.com didn't have a license but to this day they have not scammed anyone. Now both of them have a license but they were as trustworthy before acquiring a license as they are today.

I agree that a license is not a guarantee for a casino to behave fairly to its customers in terms of games, because there are many gambling platforms that have a license but they cheat, it is not a few who do that, yes it can be said to be a third party game to make people believe that they have a license that they do everything fairly.
Yes, we may be able to see that those who used to have no license but were able to operate the casino fairly are not a doubt that when they get a license they will do the same, it should increase their confidence that they are doing it fairly in running their services. But in any case we should not be too sure because something could happen someday, I don't mean to do FUD but being more careful is a better attitude than being too fanatical.

And all the governments that require every casino to have a license means that they assume that bitcoin and others are currencies, roughly speaking, can you say that?

[Dunamisx]

Yeah! Casinos without KYCs for government to have part in the running  are always main target for sanction as they would tag all their activities  to be an illegal  one NMW and there's  no way they can just themselves
Governments are just concerned with the both the gamblers  and the casinos itself .

The majority of the casinos without licences only run for a few months or years but doesn't have the capacity to run the operation for a long time since at anytime the government get through to them it will definitely become the end of their operations.

So for contemporary casinos that have long term in views it will be very necessary to get the license needed to operate as legal company and at that will implement KYC to comply with government demands.

The gambling without license could have been the best because most of them would have been non KYC gambling casinos and they won't require KYC informations from us as well as seing them not regulated by the government since they are not having any license to back that up,  but can we have the required trust in some of these sites, how reliable could they be in such a way that you will not see them taking their users fund away at anytime when they cease operations.

[promise444c5]

The gambling without license could have been the best because most of them would have been non KYC gambling casinos and they won't require KYC informations from us as well as seing them not regulated by the government since they are not having any license to back that up,  but can we have the required trust in some of these sites, how reliable could they be in such a way that you will not see them taking their users fund away at anytime when they cease operations.

I think government play a very big role in the trusting aspect  as a non licenced casino  shouldn't  require. kyc registration  for it users( the gamblers) or maybe we could just have this registered casinos without  having  to undergo the kyc process leaving almost all gamblers as anonymous  (although not too anonymous) as they aren't going deep into kyc but with these some might still want to  do some illegal stuffs  so I think government  is actually  monitoring  the inflow of the money just like they wanted to monitor mixers

[dansus021]

Just want to say Fuck Curaçao, the island in the middle of nowhere who decide to take the crypto gambling industry in their hands and make billions of dollars with it. Who the fuck they are to wash money this way?

Free tax I believe hahahha it same with the big companies that have Overseas companies with million or billion of worth asset in Cayman Island Bahamas and Cyprus these are island in the middle of nowhere but If we could count all the asset maybe it can hit trillion of dollar hahhahah.

In the gambling world, I see a bunch of Curaçao registered companies maybe it is because it is very easy to get a license there and I believe there maybe no official office there only a plain address with a virtual office that hosts a bunch of other companies in it. The reason they registered their companies here because maybe first is tax and second they can operate with "Legal" documents and so make the site is more trusted. Tho you don't need to worry fren because gambling site like u mention before always there and cannot be killed. Long live freedom

[joniboini]

but can we have the required trust in some of these sites, how reliable could they be in such a way that you will not see them taking their users fund away at anytime when they cease operations.

I believe some already mentioned this, but provably fair platforms are not rare, so those are your options. Obviously, you need to have some degree of knowledge to check whether the match is correct or not, but you can also wait for community members to test the platform for you. I believe some websites will also review such platforms if the needs arise, not to mention websites with KYC don't mean they are not scammers. I believe it is not hard to do so, even if you use some basic common sense you can avoid scam websites. Just look for the signals. If they are new, claim to have operated for years, offer a provably fair system but provide no details, and no community ever heard about them, then stay put and wait for reviews or look for other websites asap. You don't need to rely on the government for that.

[Julien_Olynpic]

But it is a cryptocurrency that is nonetheless highly liquid and favored by many reputable institutions. Of course, governments want to take control of both cryptocurrency and gambling companies. But in general, the idea is interesting: if we play for fake money, then why do we need a license? Instead of Bitcoin, you can use some other cryptocurrency. The best one is one that is less serious. For example, some little-known dog token. Or an in-game NFT. After all, a casino can operate on in-game NFTs? It's definitely not money. It’s generally difficult to say what it is).

[delfastTions]

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It seems that they are making it less and less possible, for the reasons you have stated above. In the end this long trend of becoming mainstream little by little increases liquidity to the point that bitcoin becomes effectively money-like. I guess that if casinos accepted deposits in copper certificates, then they would ask for KYC for any copper backed transaction

This is the reality of our world and the reality of developments in the field of cryptopayments.  Of course we must admit this if we want to be objective.

 But one big question remains, which is that millions of gamblers around the world, for various reasons, simply cannot afford to provide casinos with their personal data.  And games using cryptocurrencies are obviously well suited for them.  But at the same time, they will not undergo KYC in any case, since for them it immediately means the loss of their anonymity.  So, in order to still satisfy the needs of such players, I think there will still be casinos that will not require KYC from the player, and the player, in turn, will be sure that if he wins, he will receive his winnings guaranteed and without KYC verification.  
This niche in the crypto casino business must be occupied by some casino or a whole group of competing casinos.  And the reason for this is obviously due to the fact that there are still a huge number of gammbling people in the world who are ready to gamble, but only on condition of anonymity.

It's important to note that while privacy is a valued aspect of cryptocurrencies, completely anonymous participation in crypto casinos might not be possible or legal in all jurisdictions, especially with licensed and regulated platforms.
So I think it depends on the goal. If crypto-casinos are based on legal compliance, operational integrity, and the need to protect users, then a license will be required (even if Bitcoin is not officially recognized as "money").
If it is only about the type of currency used for transactions, licenses mayby not be used. But in this case in our reality, players in such casinos can play not only with their bets, but also with the safety of their funds and personal information. Of course, if the market demands, then there will be such casinos, but very niche. The general mass will obey the law.

This is where the question arises that the right to anonymity in such an area as the gambling industry (where this is obviously an essential factor for the comfortable play of millions of clients of the global gambling industry) must be protected in a certain way by current legislation.  And then the casino will fulfill these requirements.  
However, as I understand it, legislators in the USA and other countries generally ignore such legislative initiatives completely.  Nothing has even been heard about them and no one is working on them.  And legislators are only doing the opposite with laws on the de-anonymization of crypto payments under the far-fetched and essentially false label of “anti-money laundering.”  In my opinion, too much priority and preferences are given to this area of ​​legislation.  But this is of little use because almost all illegal and criminal money circulation occurs through fiat and cash.  
All this, in turn, creates a legal vacuum in the rights of players to anonymity when using crypto casinos.