Decentralized Gambling: Promote Freedom or Promote Fraud?

[Fivestar4everMVP]

So what's your take on decentralized gambling?  Do you think it really promotes freedom, or is it just another option to commit fraud and money laundering in the guise of promoting freedom?

Personally, I love decentralization but for some reasons unknown to me, I've never liked decentralized gambling casinos just as a like decentralized exchanges, well, maybe a possible reason could be because decentralized casinos are still far off from reaching the standards of their centralized counterpart, and maybe this is because developers haven't really put in the work to come up with something efficient and appealing..

Speaking of whether decentralized casinos are truly promoting freedom or whether they are used to carry out fraud, well, different people have different purposes to why they will choose to make use of a service, and because of this, I would say that this is a question we or I can't give a general answer to, because I only know myself and what my intentions are when I choose to make use of a decentralized casino, my intentions may likely not be the intention of another and this is why we are all different, but on a general term now, before decentralized casinos came on board, all the crimes you mentioned and even more have existed and thrived in our society, lets not now begin to act like decentralized casinos are the reason this crimes are still existing for even a centralized casino can still be used to carry out a money laundering.

[God Of Thunder]

On the other hand, I also read that decentralized gambling can be a tool for fraud and money laundering. Since transfers are often unregulated due to instant and automatic payout, it is said that this is prone to fraud and money laundering due to:

anonymous participation via wallet-based access,
No traditional KYC checks
Cross-border transfers without institutional intermediaries

In that sense, the entire crypto industry is illegal since the transfers are not regulated, and they can be used for money laundering. So, I don't understand what the writer expects from decentralized casinos. All cryptocurrencies are unregulated, and crypto is a great tool for money laundering, so what does the writer expect from decentralized casinos? There are very few decentralized casinos available online. I don't remember if I have seen any of them. The casinos are still centralized since someone owns them, and they can control everything according to how they want.

[Fundamentals Of]

Freedom can be abused. But it does not mean that it should not be given because it is prone to abuses.

I think it is unfair to say that decentralized gambling is just another way to commit fraud disguised as promoting freedom. I do not agree that the intention is to cater fraudsters and money launderers. It is just that where there is freedom, so are the dirty players, because that is also what they are looking for. But they are the minority. And it is unfair for decentralized gambling to be prohibited because of a few bad apples.

[lovesmayfamilis]

I do not believe in the good intentions of creating a decentralized casino. Where will there be the most players who have goals that are not quite suitable for a centralized casino? Of course, they will choose a place where they can launder money discreetly, as they are aware of the advantages of the so-called "confidentiality" that this place offers. At the same time, playing in a decentralized casino, the player risks not receiving the winnings for any reason, and in such a case, they will not have the opportunity to complain, as they themselves agreed to play by the rules of false anonymity. In a word, everything that looks too beautiful for the player will be very suspicious for regulators, who will create obstacles in every way.

[_act_]

In that sense, the entire crypto industry is illegal since the transfers are not regulated, and they can be used for money laundering.

Most people do not know what money laundering is practically, they only read it on paper but they do not know how it works. There are many legit businesses own by reputable people in the society but their businesses accounts may be used for money laundering. This is the commonest means of laundering money.

The second common one is when the people supposed to buy something for example for $2000, they can buy it using $3000 or more. The $1000 or more is laundered easily that way. Such business will be legit and they can account for how they make money.

The next common one is that the launderers will look for someone that they did not know. The person can be from another country. They can do like they are dating the person but the person does not know that they are bad person. They can asking the person to send them money in a way someone that does not know about scam will fall for it. But they may not ask for money from the person, but be using the person's account to launder money and the person will think it is legit.

All these hates on gambling are just not worth it because most money laundered are traced from where it is laundered and most are connected to fiat.

[YOSHIE]

So what's your take on decentralized gambling?  Do you think it really promotes freedom, or is it just another option to commit fraud and money laundering in the guise of promoting freedom?

My understanding of decentralized gambling and centralized/manual systems is much different, this is regardless of fraud, for that if you thinkThink all activities that users do by using technology such as blockchain in each. Transactions in general we know that it is always verified transparent and safe, with decentralized in gambling activities, in contrast to a centralized/manual system that requires the gambling industry to control everything both transactions and so on.

We know that the decentralized system in gambling has a high level of security, all access transactions and transparency transactionsSo I don't see any fraud in gambling withn Decentralized, regardless as you said money laundering or cases that often occur as we often see here, I think another story.

[maydna]

Decentralized gambling is okay but that will depend on how users use casinos. They can commit fraud or money laundering but they can also use decentralized casinos to hide their gambling activity from anyone. So decentralized casinos promote freedom to users so they can feel free without doing KYC. But they need to be careful when selecting the decentralized casinos because not many of them are safe. They can run away from their members easily without thinking much. They can ignore the withdrawal request from their members because they want to get the money from their members.

[passwordnow]

I think that many knows that this word of decentralization in gambling is just another buzz word. How many are actually decentralized in the gambling industry? I don't think that there's many of them when in fact that the centralized casinos are the ones which are emerging nowadays. If the devs of these decentralized casinos are committing fraud, this will also give other gamblers an idea on which type of casino to avoid.

[Crypto Library]

I think that everything has both good and bad sides. Considering this aspect, decentralized gambling platforms also contain some bad sides as well as good sides. To be honest, I'm a fan of decentralized gambling platforms. We don't need any documents to gamble on them, and we can log in with just a wallet, no other details are required.

And for this reason, these types of casino sites are not licensed by good licensing companies and therefore they are not under the law, resulting in more scammers in this sector. And that's why I'm often afraid to deposit money in these types of casinos.

[programmer3666]

In that sense, the entire crypto industry is illegal since the transfers are not regulated, and they can be used for money laundering.

Most people do not know what money laundering is practically, they only read it on paper but they do not know how it works. There are many legit businesses own by reputable people in the society but their businesses accounts may be used for money laundering. This is the commonest means of laundering money.

The second common one is when the people supposed to buy something for example for $2000, they can buy it using $3000 or more. The $1000 or more is laundered easily that way. Such business will be legit and they can account for how they make money.

The next common one is that the launderers will look for someone that they did not know. The person can be from another country. They can do like they are dating the person but the person does not know that they are bad person. They can asking the person to send them money in a way someone that does not know about scam will fall for it. But they may not ask for money from the person, but be using the person's account to launder money and the person will think it is legit.

All these hates on gambling are just not worth it because most money laundered are traced from where it is laundered and most are connected to fiat.

Crypto is not like entirely illegal by itself!! but because it is less regulated and some coins are hard to trace bad people can use it for money laundering especially like cartels. but still!! most money laundering is done with fiat and through normal businesses, since that can be easier and less noticeable. decentralized gambling has good sides like privacy and open access, but it also allows scams, cheating & laundering if there is no proper control to it. i think the solution is not to ban it all, but to use better tools like blockchain tracking, fair rules and educating people so they can avoid scams. at least this way we can enjoy the good parts of crypto while reducing the bad.

[iv4n]

It's not some special freedom, but it's far away from fraud...it's just a commercial trick, they are targeting people who have all those "wallets". I mean, just look at all the sign-up options in so many casinos around. They offer so many chains, and it's hard to keep up with all that...

I don't see any big difference between "centralized" & "decentralized" casinos... maybe I am wrong here, but it's my experience & 2 cents.

[mcdouglasx]

So what's your take on decentralized gambling?  Do you think it really promotes freedom, or is it just another option to commit fraud and money laundering in the guise of promoting freedom?

Assuming that decentralized casinos serve bad purposes is almost the same as saying that cryptocurrencies like Bitcoin are made for money laundering. Yes, they can be used for that, but this does not mean that they are bad. You can use a knife as a weapon or to cut a piece of cake. In other words, the knife itself is not the problem, but rather what each person uses it for.

So yes, I think decentralization is synonymous with freedom, and freedom is deciding both the good path for you and the bad one.

[Lanatsa]

In that sense, the entire crypto industry is illegal since the transfers are not regulated, and they can be used for money laundering.

Most people do not know what money laundering is practically, they only read it on paper but they do not know how it works. There are many legit businesses own by reputable people in the society but their businesses accounts may be used for money laundering. This is the commonest means of laundering money.

The second common one is when the people supposed to buy something for example for $2000, they can buy it using $3000 or more. The $1000 or more is laundered easily that way. Such business will be legit and they can account for how they make money.

The next common one is that the launderers will look for someone that they did not know. The person can be from another country. They can do like they are dating the person but the person does not know that they are bad person. They can asking the person to send them money in a way someone that does not know about scam will fall for it. But they may not ask for money from the person, but be using the person's account to launder money and the person will think it is legit.

All these hates on gambling are just not worth it because most money laundered are traced from where it is laundered and most are connected to fiat.

Crypto is not like entirely illegal by itself!! but because it is less regulated and some coins are hard to trace bad people can use it for money laundering especially like cartels. but still!! most money laundering is done with fiat and through normal businesses, since that can be easier and less noticeable. decentralized gambling has good sides like privacy and open access, but it also allows scams, cheating & laundering if there is no proper control to it. i think the solution is not to ban it all, but to use better tools like blockchain tracking, fair rules and educating people so they can avoid scams. at least this way we can enjoy the good parts of crypto while reducing the bad.

Money laundering has been around long before crypto and it shows up in many shapes that most people don’t really notice. it can be through regular businesses that everyone sees as clean, just shifting numbers around or overstating the value of transactions. it can be through people who become unknowing channels when someone convinces them to help with transfers that look normal. it can be through fake relationships where someone gets tricked into moving money, thinking they are helping out. this is why laundering is dangerous, because it hides in plain sight more often than people think. Crypto often gets painted as the villain when it comes to laundering because it’s newer, less regulated in some areas, and the speed of transfers makes it harder for traditional systems to keep up. some coins add to the difficulty because of stronger privacy features, but at the same time the blockchain itself is a public ledger which gives tools to trace movement better than fiat in certain cases. this makes it both a risk and a solution depending on how it’s handled.

When people point fingers at crypto gambling or defi platforms, they forget fiat still carries the majority of laundering volume. cartels and organized crime have used banks, real estate, shell companies and even casinos long before bitcoin existed. so the problem is not the technology by itself, but how people exploit weak points in any financial system. Gambling in a decentralized way can give freedom, privacy and access to people who normally don’t have it, but with no oversight it also becomes a magnet for scams, cheating and laundering attempts. The more practical solution is not to ban or kill the entire space but to combine smarter regulation with better tech tools. blockchain analysis firms already exist that can track suspicious wallets detect patterns and even flag illicit activity faster than traditional banking systems. If rules are applied in a fair way and users are educated on what to avoid, the space can grow healthier without losing its core advantages. banning only pushes activity underground where it becomes harder to monitor.

[Porfirii]

So what's your take on decentralized gambling?  Do you think it really promotes freedom, or is it just another option to commit fraud and money laundering in the guise of promoting freedom?

Assuming that decentralized casinos serve bad purposes is almost the same as saying that cryptocurrencies like Bitcoin are made for money laundering. Yes, they can be used for that, but this does not mean that they are bad. You can use a knife as a weapon or to cut a piece of cake. In other words, the knife itself is not the problem, but rather what each person uses it for.

So yes, I think decentralization is synonymous with freedom, and freedom is deciding both the good path for you and the bad one.

Bitcoin is decentralised and it's great, but it doesn't mean that every decentralised crypto project is legit, and we've seen too many examples of fraudulent ones in the past. For the same reason, a casino being decentralised is not a guarantee per se, and I think you misunderstood the OP because he didn't say that all decentralised casinos are bad either.

[skarais]

Freedom can be abused. But it does not mean that it should not be given because it is prone to abuses.

When we talk about misuse, almost all existing platforms can be misused, whether centralized or decentralized. In my opinion, service providers basically have good intentions to build and provide a safe environment for gambling activities without the need for KYC documents, but a handful of groups use it for abuse. The same thing can happen to mixers, online casinos and crypto markets.

[Su-asa]

Yes decentralization means freedom, so both good and bad actor's adopt to it based on individuals preferences and choices of use, definitely money launderers, scammers  and hackers will abuse and exploit anything decentralized and for privacy reasons they all target that aspect of exploiting decentralized casinos, and not only decentralized gambling other services within the cryptocurrency space have been victims of bad actors exploitation such as Bitcoin privacy services like mixers and decentralized cryptocurrency exchanges.

The thing is that you should just use it for the main reason it was made of. Although you are right because both good people and the bad people will also use it. But I'm sure that if there's any suspicions the decentralize gambling platforms will block the account immediately because they too would not want a situation whereby their platform will be banned. Intact, both the centralize gambling platforms and the decentralize platforms also have this things in common.

[Orpichukwu]

I don't see how decentralised casinos can help in increasing fraud or money laundering, since they use one wallet to connect to the casino, and winnings are also paid out directly to the same wallet which they use in placing bets. How can such means be used for money laundering unless there is a hidden tool? Since both in and out of the player's wallet can be traced back to the origin, I don't see such happening.

[uchegod-21]

I don't see how decentralised casinos can help in increasing fraud or money laundering, since they use one wallet to connect to the casino, and winnings are also paid out directly to the same wallet which they use in placing bets. How can such means be used for money laundering unless there is a hidden tool? Since both in and out of the player's wallet can be traced back to the origin, I don't see such happening.

What if the decentralized casino itself is owned and managed by these criminals themselves for the purpose of fraud and money laundering? This is not unlikely to happen since the casino itself is not being regulated.

I cannot vouch for any of these casinos. They truly have both advantages and disadvantages. I am not denying the fact that the services of decentralized casinos are way better, but I must still admit that it also means freedom for the bad guys.

I care so much about the reputation of the casino I use. Gamblers should not get so excited about freedom, they should do their findings, especially on unregulated casinos.

[Orpichukwu]

I don't see how decentralised casinos can help in increasing fraud or money laundering, since they use one wallet to connect to the casino, and winnings are also paid out directly to the same wallet which they use in placing bets. How can such means be used for money laundering unless there is a hidden tool? Since both in and out of the player's wallet can be traced back to the origin, I don't see such happening.

What if the decentralized casino itself is owned and managed by these criminals themselves for the purpose of fraud and money laundering? This is not unlikely to happen since the casino itself is not being regulated.

That's a valid point you have made there; with that, it's easier for the casino to use such a method to clean their coins since customers are making deposits to place bets. For every winning, they can also use other means to pay winners and keep their clean coins, but it will be harder for the player to use a decentralised casino for such. Anything is possible in the space; even in a regulated casino, bad actors still figure out ways to use the system for their games.

[AVE5]

I wonder whether Decentralized gambling is actually promoting freedom or letting decentralized casino owners and users commit fraud and money laundering, since most are unlicensed and do not follow regulations.

If we've to think this otherwise in the decentlized gambling due to the illegal activities being done by the users. then I must say that the blockchain will br implicated regarded that sort fingers has also been pointed towards bitcoin and cryptocurrencies being a hiding place for money laundering. I'm sure we've seen it all going in the news, media and how facilitating the governments has also been to trap victims under the cover of decentralized networks.
So until a casino is found guilty or accomplice with the evil doing, I wouldn't judge wrongfully but I'm sure that some folk users of the platforms could possibly be hiding beneath without the consent of the gambling platform.