How do AML systems evaluate cryptocurrency withdrawn from casinos?

[internetional]

My questions are for those who withdraw cryptocurrency from casinos:
Have you checked the risk level of the funds you’ve withdrawn? What risk level is assigned to them in AML systems?

I'm curious because I know that in the fiat financial system, transactions related to casinos are categorized as high-risk traffic, and some financial service providers are suspicious of funds associated with gambling.

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

[Plaguedeath]

I never use any tools to check the risk level of my funds coming from casinos and I have never had any problem when I withdraw from casinos to CEX. If you worried with that, you can just use either no KYC P2P or DEX that listed on kycnot.me

It's true some CEX do categorized gambling funds as high-risk, but I guess it's for strict CEX especially local exchange.

[Adbitco]

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

As far as I know judging from the site i do use to gambling like stake.com I do sent out cryptocurrency from there to directly exchange and so far, there is no restrictions or limitations or do I say since I haven't requested for a large withdrawal to directly to exchange address I haven't been restricted neither did they required SoF since then till right. Perhaps I will say since there isn't such activities being reported from exchange to the casino or from casinos to exchange then it's fine and no restrictions.

About fee, it all depends on the gambler choice and often time it's required for the gambler to withdraw from wallet they have access and the seed phrase or private keys to the casinos. Most of the casinos always records the first address and any refund would be directly sent back to the address, so if you withdraw funds from exchange to casino's then it's always advisable to have access to that same exchange so that if there are any refunds then they wouldn't mind sending back to the originate address. Therefore giving them another address would be seen as scam activity and likely to get your account ban or blocked.

[Nwada001]

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

Some CX will accept it, some will not, and some will even return the funds to the sender's address, while some will freeze your account for such an act.
 
It all depends on the exchange policies, as some frown upon getting a deposit directly from the casino to the exchange wallet. Aside from this too, I even advise someone to get their withdrawal down to their personal wallet first before they can send it over to the exchange address.

[AbuBhakar]

My questions are for those who withdraw cryptocurrency from casinos:
Have you checked the risk level of the funds you’ve withdrawn? What risk level is assigned to them in AML systems?

Is there a way to check risk level of withdrawal crypto? I think casino just flag an account to AML policy if it’s satisfied the criteria of potential violation but a normal crypto withdrawal and deposit coming legal source is not being monitored by the casino unless the source wallet was already flagged for being involved on shady activity.

AFAIK casino only reports user to AMLA but never monitor each withdrawal real time. They use KYC to track users that committed violation not before.

[danherbias07]

No, there are no restrictions to that as far as I remember.

What I did was different. I won a bet that is withdrawable and then I sent it to my exchange USDT address. Then, I exchange it in P2P to make it our local currency.
I had no trouble doing that because I think everything you do there will rely on your KYC. Once they know you are money laundering then they know where to find you so it's better if we avoid that.

Regarding the risk factor, I have no idea that exists. I don't even check my transactions because I know I am doing it all legally. Also, it's actually more expensive to use an exchange as your wallet because of the transaction fees and the risk is there too so I don't do this anymore.

[internetional]

I never use any tools to check the risk level of my funds coming from casinos and I have never had any problem when I withdraw from casinos to CEX. If you worried with that, you can just use either no KYC P2P or DEX that listed on kycnot.me

Which DEX supports the pair USDT-TRC20 <-> BTC?

Regarding P2P, they can block the funds as well. Two years ago, I bought BTC on LocalCoinSwap, and when seller's BTC were escrowed, I received a message from LCS support where the informed me that the coin is "dirty", and I should neither send fiat to seller, nor cancel the trade. That coin is still on the escrow address.

some will even return the funds to the sender's address, while some will freeze your account for such an act.

Which CEXes do this if cryptocurrency comes from a casino?

[Davidvictorson]

My questions are for those who withdraw cryptocurrency from casinos:
Have you checked the risk level of the funds you’ve withdrawn? What risk level is assigned to them in AML systems?

I didn't know that there is a way to check the risk level of funds withdrawn. How is this done. I am just curious and want to know how to do it.

I'm curious because I know that in the fiat financial system, transactions related to casinos are categorized as high-risk traffic, and some financial service providers are suspicious of funds associated with gambling.

I am learning this today. Wow.

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

For me in crypto most of my withdrawals from crypto goes directly to CEX. The accept it and I have never had any issues with withdrawal whatsoever. In my estimation, it is absolutely safe.

[Charles-Tim]

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

I have only heard of Coinbase that is against it. I have used many exchanges before to directly receive from gambling sites and no coin seized. But you can first send the coin to a noncustodial wallet address before sending it to the exchange. I have used Binance, OKX and Bybit to have received directly from gambling sites before.

[shinratensei_]

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

There are no issues when exchanging assets withdraw from casino.

To answer your question. CEX accepts fund coming from a casino, and they will not block them without a concrete reason.

Also, it's safe to withdraw directly to an exchange site address as long as you're using Non-KYC Cex.

[dothebeats]

I used to withdraw cryptocurrencies from casinos straight to a local crypto exchange account. My account was flagged due to 'suspicious activities' even though I only transferred money to that same account on 3 occasions. Up until now, that account is on hold with the funds in it, and I need to provide an attorney explaining that I have the financial capability to play in crypto casinos and that I'm not involved in shady activities.

Surprisingly, my bank has no problem with me withdrawing and depositing huge sums of money in a short span of time even though they know that it is being transferred to an online casino. It may be 'high-risk' but to them, money is money, and don't want to push their customers away just because the money that is being deposited to their account came from an online casino. IMO, that is the way to handle things, and not jump the gun immediately and place a restriction on the account unless you have a strong probable cause to do so.

Btw, the exchange that I still have problems with is Coins.ph. It's weird how $200 is enough to alert them that something might be off even though they know that I was able to regularly deposit way bigger amounts to that said account. And all that just because the money came from a gambling website lol.

[bitbollo]

For what I have seen... in all these years no CEX has ever wanted to ask me for details on these funds
(basically I don't win anything that is not in line with my income from work/previous buy).
I think this is partly one of the tricks to not having big problems with them... of course I haven't never sent funds directly to CEX

[BABY SHOES]

What about in crypto? Are there any issues when exchanging assets withdrawn from a casino? For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

As far as my experience playing in casinos and making withdrawals directly from casinos to CEX it goes safe without having any risk this is often... so not once or twice doing it but every withdrawal is always to CEX... but I do not know the level of risk this is because it has never been experienced.

Maybe the exchange will block your account if you deposit BTC from the mixer, this is often mentioned as money laundering or criminal acts like some other cases that are not.

For casinos, I think it's still safe... Because casinos have existing licenses and regulations, CEX accepts funds from casinos.

[AmoreJaz]

For what I have seen... in all these years no CEX has ever wanted to ask me for details on these funds
(basically I don't win anything that is not in line with my income from work/previous buy).
I think this is partly one of the tricks to not having big problems with them... of course I haven't never sent funds directly to CEX

I can also attest on this as I haven't encountered any problem with my local currency exchange. But don't get too confident as it may vary from one country to another. Check the terms of your exchange where you want to use your casino funds. Each country specifically have their protocols when it comes to crypto funds coming from gambling sites and how these local crypto-exchanges are treating this type of fund.

For you to make sure, you won't have any trouble, you need to consult or ask the technical support of your local exchange or the exchange you want to trade with about this fund coming from a gambling site. Should have an assurance from their end that they are accepting such funds and should take a snapshot as a proof that they are indeed allowing it.

[Findingnemo]

For example, if I withdraw USDT-TRC20 and want to exchange it for Bitcoin using a CEX, will the CEX accept funds coming from a casino? Or will it block them? And is it safe to withdraw directly to an exchange address to avoid extra fees?

Depending on the exchange, Coinbase will terminate your account once and for all with no questions asked if they traced the funds deposited from a casino whether directly or indirectly.

Other than that exchanges have no issues with you depositing funds directly from a casino but for your sake of security it's not recommended to do a TX where you don't hold the keys on any of the side so that you don't need to worry in case if the TX got stuck due to low fee or many other things.

[ralle14]

I always take precautions even though I don't know the risk of transferring my coins directly from casinos to exchange because i've already lost one of my exchange accounts from this situation. I'd rather pay extra than risk it once more only to save a bit of fees. You always have the option to wait out the network for several days or weeks if there's a big spike in fees.

Recently, i've made a direct transfer through another exchange without any issues and i've used altcoins instead of bitcoin. I still don't recommend doing it because it doesn't mean we're safe when they can frequently update their terms and conditions.

[Upgrade00]

I have never checked the risk level of the coins withdrawn, but I don't think there will be high risk generally associated with gambling profits. I have also sent proceeds from gambling to exchanges multiple times and also withdrawn directly to an exchange with no issues.

You'll have to double check with the ToS of the exchange and also confirm the legitimacy of gambling in your country before moving your funds there.

[Blowon]

I never use any tools to check the risk level of my funds coming from casinos and I have never had any problem when I withdraw from casinos to CEX. If you worried with that, you can just use either no KYC P2P or DEX that listed on kycnot.me

It's true some CEX do categorized gambling funds as high-risk, but I guess it's for strict CEX especially local exchange.

I never thought about this before, and I continued to make transactions between casino withdrawals to cex without worry, but now I realize that I need to be more careful, do international exchanges have rules regarding funds from casino flows?

[Rruchi man]

My questions are for those who withdraw cryptocurrency from casinos:
Have you checked the risk level of the funds you’ve withdrawn? What risk level is assigned to them in AML systems?

I didn't know that there is a way to check the risk level of funds withdrawn. How is this done. I am just curious and want to know how to do it.

It is something new for me too. Most gamblers are sometimes too excited by a win, especially a huge one; they may never concern themselves with trying to verify the risk level of funds.

For me in crypto most of my withdrawals from crypto goes directly to CEX. The accept it and I have never had any issues with withdrawal whatsoever. In my estimation, it is absolutely safe.

It is possible that your withdrawals went smoothly because the funds you withdrew had no risk associated with them, and even though you did not bother to check the risk level associated with the funds, the CEX already did it.

I think if you regularly play in trusted and reputable casinos, you would rarely have this issue of withdrawing funds with a high risk level.

[Findingnemo]

I never use any tools to check the risk level of my funds coming from casinos and I have never had any problem when I withdraw from casinos to CEX. If you worried with that, you can just use either no KYC P2P or DEX that listed on kycnot.me

It's true some CEX do categorized gambling funds as high-risk, but I guess it's for strict CEX especially local exchange.

I never thought about this before, and I continued to make transactions between casino withdrawals to cex without worry, but now I realize that I need to be more careful, do international exchanges have rules regarding funds from casino flows?

There is no such terms on most of the exchange will explicitly mention it but they all are saying funds can be frozen at any time which implies the point. If you have been using it for more than 6 months then it's safe to assume that your funds are safe even if you deposit directly to your exchange from casino but if you ever go on to new exchange or whenever you see the terms have been updated then you have to be careful.

Or even better if you just ask the support of the exchange whether you're allowed to do it or not but make sure you have no funds left while asking such questions.