Betpanda.io | Anonymous Crypto Casino | Welcome Bonus Up to 1BTC

[EarnOnVictor]

Checking the specifics on the offers page, I noticed when enabling the 1 BTC deposit bonus they state it is 80x wagered amount so to be able to receive the bonus in cash to your account.
But when I checked the OP from BetPanda it says something different:

It is 40x in the above screencapture from the splash screen.
So which is it?
Any insight will be extremely helpful as I will be needing to do a deposit in the next 24 hours since they give you a countdown of only 48 hours to do your first deposit inorder to qualify for this promotional offer on their site.

Go ahead with your deposition. I made my first deposit on Saturday without any issue, though I had a little confusion with the bonus requirement since I don't go for bonuses, but it was carefully explained to me. And note that it's a choice to opt for the bonus. Even if you'd opted for it, you are free to cancel it at any time, so it's flexible enough.

As for your specific confusion, it's simple; the 40x and 80x are saying the same thing. The difference is that you use 80x when only your bonus alone is involved to fulfil the requirement. But you do 40x if the power of the deposit and bonus are involved (2x). For instance, you deposited $100 and were given a $100 bonus, which makes it $200. If you consider wagering the bonus alone, you need ($100 x 80 times) = $8000. But if you would consider risking both the deposit and the bonus, it will lessen it by half. That's where you see 40x instead of 80x. As it's in $200 x 40 times = $8,000.

[hd49728]

In my opinion, however, there is one point missing that is often used as an argument for banning crypto casinos, especially in the Western world: the fear of overly easy money laundering or the simple “cleaning” of cryptos that come from dubious sources such as blackmail or scams. The ban is intended to put a stop to this, which of course only works to a very limited extent, if at all.

Concerning about money laundering makes sense but it exists in all areas, not only in blockchain industry, cryptocurrency market or online casinos that accept cryptocurrency. Furthermore, governments in most nations already enforce KYC and AML on companies in their homelands as well as globally too. So it does not make sense to ban online cryptocurrency casino with any fear of money laudering at all.

If a company provides online cryptocurrency casino service, they must do KYC, AML on users, obey the government laws and their business will be well. Issues only occur if they don't obey AML, KYC and let users easily laundering money on their casinos.

[Sanitough]

In my opinion, however, there is one point missing that is often used as an argument for banning crypto casinos, especially in the Western world: the fear of overly easy money laundering or the simple “cleaning” of cryptos that come from dubious sources such as blackmail or scams. The ban is intended to put a stop to this, which of course only works to a very limited extent, if at all.

That isn’t something to be afraid of as long as regulations are in place. The AMLC is the one enforcing these rules, so casinos just have to follow the guidelines set for them. KYC is one of the most basic controls every casino must implement.

It might not completely stop money laundering, but it helps trace the flow of money. With proper KYC, it becomes harder for anyone to move dirty funds around, and that alone already acts as a deterrent for those planning to do it.

[arwin100]

In my opinion, however, there is one point missing that is often used as an argument for banning crypto casinos, especially in the Western world: the fear of overly easy money laundering or the simple “cleaning” of cryptos that come from dubious sources such as blackmail or scams. The ban is intended to put a stop to this, which of course only works to a very limited extent, if at all.

That isn’t something to be afraid of as long as regulations are in place. The AMLC is the one enforcing these rules, so casinos just have to follow the guidelines set for them. KYC is one of the most basic controls every casino must implement.

It might not completely stop money laundering, but it helps trace the flow of money. With proper KYC, it becomes harder for anyone to move dirty funds around, and that alone already acts as a deterrent for those planning to do it.

But even if AML policy has been followed by the casino, still there are criminals find ways to exploit and proceed on their money laundering schemes done in those casinos.

That's why this issues keep floating and regulation became more tighter then there are more requirements asked because authorities feels like enforcing minimal KYC procedure is not enough to combat money laundering schemes.

What's good about this is we could see that the casino we are playing is compliant and not avoiding on those regulation set by government.

[Perfectbaby]

Casinos can’t really stop them anymore unless there are reports showing that the people behind those accounts are involved in money laundering. What casinos can do is simply follow the anti-money laundering requirements and make sure they’re properly implemented. In banks, there’s something called “suspicious transactions” and “covered transactions.” I’m not sure if the same system exists for casinos, but if it does, they probably don’t announce it publicly since it’s more of an internal policy between them and AMLC.

I think I have actually heard of this concerning about this suspicious transactions.
Of course Banks do carry out all necessary majors to track those accounts involved in such transaction and all of them would automatically be penalized they won't be that able to make use of their accounts anymore and whatever account that sent money into that account would also be tracked in order to hold on those who involves in that shady activities.

[ginsan]

Casinos can’t really stop them anymore unless there are reports showing that the people behind those accounts are involved in money laundering. What casinos can do is simply follow the anti-money laundering requirements and make sure they’re properly implemented. In banks, there’s something called “suspicious transactions” and “covered transactions.” I’m not sure if the same system exists for casinos, but if it does, they probably don’t announce it publicly since it’s more of an internal policy between them and AMLC.

Individuals who engage in money laundering will definitely be detected by casinos based on the amount of money and the activities carried out by the accounts involved in the laundering. This can be suspected, such as only betting a small portion of the deposit made and then leaving, which is only a diversion, and the amount of money laundered should be much larger than that of an ordinary person. This can be considered suspicious and cause the account to be monitored in the long term, because their activities are definitely different from those of ordinary gamblers.

Banks also monitor transaction activity so that suspicious activity can be flagged, and casinos are no different. They also have a monitoring division for certain accounts that engage in unusual activity.

[dimonstration]

…

Individuals who engage in money laundering will definitely be detected by casinos based on the amount of money and the activities carried out by the accounts involved in the laundering. This can be suspected, such as only betting a small portion of the deposit made and then leaving, which is only a diversion, and the amount of money laundered should be much larger than that of an ordinary person. This can be considered suspicious and cause the account to be monitored in the long term, because their activities are definitely different from those of ordinary gamblers.

You can’t bet a small portion only then withdraw all the balance because there’s a x1 wagering requirements on deposit specifically designed to avoid money laundering since they will need to wager the amount of their total deposit before they can withdraw it.

It’s truly hard to detect a potential money laundering in the casino because they are already playing like a normal player by taking some risk.

Money launderer already have a lot of method to do it and make it look like a legit gambler such as arbitrage betting using different casino.

[macson]

Talking about restrictions, why will a country restrict gambling activities,  what effect will gambling activities do to that countries economic system when we all not its with own money and not their.. Some political representatives fails to channel there attention towards job creations, technological improvement, security, inflation and so on that we know will be helpful to the country to tackle irrelevant situation, gambling is a game of choice and should not be stopped by government because it serves as a source of income to some people including me

The government has reasons to restrict gambling, that could be because they believe it can lead to social and economic problems, or due to the beliefs of the majority, as gambling is prohibited in Muslim-majority countries. That's indeed a bit annoying, but you can't do anything about it because it's already a regulation.

And you think gambling is a source of income? It seems you need to reconsider that because gambling can't be considered a source of income, it's just entertainment. When you treat it as a source of income, you might find yourself facing bigger problems, such as financial instability or emotional stress, because you keep hoping it will provide you with a stable income, but it just can't.

[rodskee]

@DYOR+BTC might not be aware of the religious side of gambling bans. That’s actually the main reason why some countries prohibit it. The second reason is when gambling addiction becomes too widespread or hard to control, though that part can change once things improve and regulations are set properly.
[...]

I agree with that, yes.

In my opinion, however, there is one point missing that is often used as an argument for banning crypto casinos, especially in the Western world: the fear of overly easy money laundering or the simple “cleaning” of cryptos that come from dubious sources such as blackmail or scams. The ban is intended to put a stop to this, which of course only works to a very limited extent, if at all.

to avoid money laundering is not one of the major reasons from what i have observed because usually the government can just implement anti money laundering schemes and besides even without crypto casinos specifically there are still money laundering operations anyway

it is either religious or because addiction has become too much of a health hazard in a country

[Ojima-ojo]

@DYOR+BTC might not be aware of the religious side of gambling bans. That’s actually the main reason why some countries prohibit it. The second reason is when gambling addiction becomes too widespread or hard to control, though that part can change once things improve and regulations are set properly.
[...]

I agree with that, yes.

In my opinion, however, there is one point missing that is often used as an argument for banning crypto casinos, especially in the Western world: the fear of overly easy money laundering or the simple “cleaning” of cryptos that come from dubious sources such as blackmail or scams. The ban is intended to put a stop to this, which of course only works to a very limited extent, if at all.

to avoid money laundering is not one of the major reasons from what i have observed because usually the government can just implement anti money laundering schemes and besides even without crypto casinos specifically there are still money laundering operations anyway

it is either religious or because addiction has become too much of a health hazard in a country

In most places where gambling is banned, is because of religion expectations most times government have little to nothing to do with the ban as most of them are carried out by some religious law's, like what we have as the shrine laws in some Muslim states where their ban gambling and alcohol consumptions.

That is the extent as to how far religion can influence both the government and the individuals to carry out a change is such direction, although the government also have a role to play in enforcement of those local laws.

[PX-Z]

...

...

to avoid money laundering is not one of the major reasons from what i have observed because usually the government can just implement anti money laundering schemes and besides even without crypto casinos specifically there are still money laundering operations anyway

it is either religious or because addiction has become too much of a health hazard in a country

True, AML schemes can help control money laundering, but that’s not the only concern. Most bans are more about preventing addiction, debt, and other social issues. Also, unregulated or crypto casinos make AML enforcement harder, so it still becomes one of the reasons even if it's not the main one.

Some not-muslim country also bans gambling, like china, japan, thailand, sokor,.etc., only those government run gambling lottery and race like moto race are okay there. Reasons are not due to its religion but some of the social issues and its values like japan.

[examplens]

Some not-muslim country also bans gambling, like china, japan, thailand, sokor,.etc., only those government run gambling lottery and race like moto race are okay there. Reasons are not due to its religion but some of the social issues and its values like japan.

Very often the reason for the ban is because it is too expensive for the state to solve the problems caused by gambling addiction. The revenues that come to the state from gambling are probably not that important (especially in developed countries) compared to the necessary investments of money and resources in mitigating the negative effects it brings. For example, gambling is allowed in the organization of the state, because there they have complete control and the possibility of prevention.

[PX-Z]

... For example, gambling is allowed in the organization of the state, because there they have complete control and the possibility of prevention.

Yeah, i feel this is the one of the reasons why china bans gambling yet they have their government owned lottery.

In my country, though, our government lottery seriously lacks transparency, and there have even been allegations of corruption and possible money laundering linked to some of its so-called "winners". They even post edited photos of the supposed winners on their Facebook page, and the manipulation is so obvious it's almost laughable.

[Little Mouse]

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[Issa56]

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[Zoomic]

Casinos can’t really stop them anymore unless there are reports showing that the people behind those accounts are involved in money laundering. What casinos can do is simply follow the anti-money laundering requirements and make sure they’re properly implemented. In banks, there’s something called “suspicious transactions” and “covered transactions.” I’m not sure if the same system exists for casinos, but if it does, they probably don’t announce it publicly since it’s more of an internal policy between them and AMLC.

Casinos have that arrangement but it is an internal thing. That is how they know suspicious transactions, but one thing with some casinos is that the alarm won't be triggered for deposits because they need the money. It is only during withdrawals that the gambler will be restricted for scrutiny. Well, if the person doesn't pass the KYC and the money is seized, who uses the money? The casino or the government?

[xLays]

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Since new NBA season is about to start I want to see Betpanda to sponsored some prediction contest in NBA.. Sportsbet.io doing that thing every year but since they leaving bitcointalk I don't think that they will do it this year. So I'm expecting some like betpanda.io will do that for bitcointalk community.

I guess we have so many NBA fans here. And sure they will join that contest..

[BIT-BENDER]

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Place a bet ($5 minimum) and predict the score of a selected match to win $25 each (4 winners)

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You're absolutely killing it with these contests, the prizes are lit. I love the variety, I love how you're mixing it up with different types from sports prediction to crypto price prediction and poker tournament. The team is really doing a great job organizing these contests and making things exciting. I hope you keep the fire burning and keep bringing innovative, more varieties of contest to make things more exciting.

I have missed some contest in the past, but for sure this one is catchy, I will definitely be testing my powers on this one.
For sure great job to the organizers this would definitely be fun and memorable and I wouldn't let this one pass me back. I believe I will have the best fun in the price prediction, I will have to get my crystal ball.

[coolcoinz]

I agree with that, yes.

In my opinion, however, there is one point missing that is often used as an argument for banning crypto casinos, especially in the Western world: the fear of overly easy money laundering or the simple “cleaning” of cryptos that come from dubious sources such as blackmail or scams. The ban is intended to put a stop to this, which of course only works to a very limited extent, if at all.

Why would anyone even do that if they can simply sell crypto for cash and be done with it? Many ATMs allow you to exchange coins for cash up to a certain limit with no KYC, so you can just do that, without trying to mix your coins. On the other hand, both casinos and ATMs are supposed to KYC people who deposit large amounts, so if they later get contacted by the police that traced coins to them, they should have all the information belonging to the client. Bans make no sense because there are other easy ways to mix coins and you're punishing a whole business out of, as you said, fear of laundering.

[Ultegra134]

Why would anyone even do that if they can simply sell crypto for cash and be done with it? Many ATMs allow you to exchange coins for cash up to a certain limit with no KYC, so you can just do that, without trying to mix your coins. On the other hand, both casinos and ATMs are supposed to KYC people who deposit large amounts, so if they later get contacted by the police that traced coins to them, they should have all the information belonging to the client. Bans make no sense because there are other easy ways to mix coins and you're punishing a whole business out of, as you said, fear of laundering.

Correct me if I'm wrong but I don't think any Bitcoin ATM in Europe doesn't ask for KYC. In Greece they ask for all kinds of ID, and also charge extravagant fees for conducting a transaction. I remember up to 8% to sell Bitcoin, which is insane, provided that you still have to submit KYC. On casinos on the other hand you may get away with smaller amounts divided by multiple transactions without submitting KYC, but sooner or later, you'll have to do it.