Decentralized Gambling: Promote Freedom or Promote Fraud?

[bangjoe]

Which casinos are truly decentralized? If you ask me, I can not really point out anyone, except am mistaken all of them to be centralized but from their ways of operations, most of the reputable casinos I know are centralized. When you say decentralized are promoting frauds, it seem to me as if centralized systems and platforms are not also having fraudulent activities. The truth is that, frauds can not be completely eradicated from both centralized or decentralized platforms, because those evil actors will always find their way around the system.

That is true but fundamentally the decentralized casino is more vulnerable to fraud, which is clear we see the proposal proposal of the governance correctly, from the setting of the machine and also the liquidity of the money in the casino, as well as the transaction process, the gambling process can be considered by many people, as we should see people who are trading in dex, as far as I know the decentralization fraud.

If there are no principles, the decentralization is falling, and is not worthy of being said to be decentralized, you know maybe KTA has not found a beggar who wants to really open a decentral casino as a whole.

[Doan9269]

The use of decentralized gambling platform promotes for freedom, which is what we all want to have in crypto form the start of everything, it does not make sense enough if at the end of using a gambling platform and you discovered that you have lost your privacy as your information have been release and retrieved by any third party you know nothing about, which a decentralized platform  couldn't have done because they are not having any idea of your information talk less of releasing any to government or anyone else, while in the aspect of fraud, this is another thing entirely out of the scope we are considering for in the use of a decentralized gambling platform.

[Oluwa-btc]

Decentralized Gambling can usually be good or bad but it majorly depends on User behaviour,adaptability and organization.Everyone's knows the difference,if users corresponds and act responsibly it channels freedom,but the reverse leans towards fraudulent expectations.

[M47AK16]

What if I make a thousand-dollar deposit, tip it to someone else, and they withdraw the money to my wallet?

Even though this is money laundering, no one can detect it as long as I use different addresses to do it. There are hundreds of ways to do money laundering if someone wants to do so. So, it is shame that some people think decentralized casinos encourage money laundering.

It can happen on centralized casinos but the occurrence can only be rare due to how they work. Casinos are smarter than us, so before we think of that idea to launder money, they already know it. Yeah there are still other ways to do money laundering but it is just that we are currently at the casino section, so this is the ones that is mentioned. Casinos can also be easier to use than the others.

Centralized and decentralized casinos can be used for negative things. It all depends on how the gamblers want to deal with the casinos. Although we think that centralized casinos are difficult to use for fraud or money laundering, they can use the gap to do what they want. Decentralized casinos are good because they don't ask for verification for the gamblers so they can use this for negative things.

But I'm thinking that the data's can be stolen by a hacker, or they can as well be sold secretly by the casino. Decentralized casinos are both good and bad depending on the people that will use it. If we have clean intentions and we value our privacy the most then it is a good thing because we are not being asked by a KYC but for the other, it is good in a way that they can easily do things like money laundering.

[Dr.Bitcoin_Strange]

Decentralized Gambling can usually be good or bad but it majorly depends on User behaviour,adaptability and organization.Everyone's knows the difference,if users corresponds and act responsibly it channels freedom,but the reverse leans towards fraudulent expectations.

It was not designed for doing bad but the truth is that there's no system that is meant for good that will not be clouded by bad people too. Decentralized casinos or bookies (if there's any) can not be completely free from scammers that would use the opportunity to clean their tainted money to make it look legit.

[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?

What ever has advantages definitely has disadvantages, and some times, people may choose to still use a service even with its disadvantages simply because the advantages outweigh the disadvantages, while on the other hand, there are still services where the disadvantages outweigh the advantages and I am afraid to say that this is what I feel about decentralized casinos, I think even with its advantages of promoting freedom and all, the disadvantages this brings to the gambling ecosystem greatly outweighs the advantages, And maybe this is the major reason why decentralized casinos haven't been much of a success since when the first one was launched..

Several decentralized casinos have come and gone and still, it feels like it's now the idea of a decentralized casino is just coming up, and I don't know for other gamblers but I personally have always preferred to play on centralized casinos ever since the first time I played on a centralized casino.

[God Of Thunder]

It can happen on centralized casinos but the occurrence can only be rare due to how they work. Casinos are smarter than us, so before we think of that idea to launder money, they already know it. Yeah there are still other ways to do money laundering but it is just that we are currently at the casino section, so this is the ones that is mentioned. Casinos can also be easier to use than the others.

My point was that since we know that money laundering is also possible in other ways, why should one blame decentralized casinos? The author and some people claim that decentralized casinos are used for money laundering because they are not regulated. They should know that there are thousands of unregulated exchanges, mixers, and crypto platforms that can be used for money laundering.

If you cannot stop these platforms, you should not point fingers at the decentralized casinos without any proof. eXch was accused of using them to do money laundering, and they had to shut down the exchange. We lost a good exchange to be honest. We need more decentralized platforms.

[HONDACD125]

It was not designed for doing bad but the truth is that there's no system that is meant for good that will not be clouded by bad people too. Decentralized casinos or bookies (if there's any) can not be completely free from scammers that would use the opportunity to clean their tainted money to make it look legit.

I have personally never used decentralized casinos or gambling platforms but I know that when you use a decentralized platform, you basically make bets directly from your wallet after connecting it with the platform, and the bets are made on-chain, asking approval from you in the wallet for every bet you are making, and once the bet is made, you will either get the winning amount back directly in your wallet if you win or it's gone if you lose the bet. However, I'm not sure if, after a win, the same money that was sent from the wallet is sent back to the gambler or the platform mixes them and then repays the gambler from their wallet.

If the platform returns the same money that the user used for the bet and then pays the winning from their side without mixing them, then no one can use the platform to do shady stuff, but if it's the other way around, then it's very easy for someone to clean the funds they have using such a platform unless they have some kind of a system that detects and flags shady payments and does something about it.

[fruktik]

I believe fraud can exist anywhere, as it depends on the intention of the user. However, it's unfair to generalize and assume everyone will use it negatively. Decentralized betting represents a much greater advance than fraud, which unfortunately already exists in many contexts.

I completely agree with your conclusion. On the contrary, the less personal information a person gives out, the better. It will be much harder for scammers to deceive someone they know nothing about. I'm all for the growth of not only decentralized casinos but also online resources. People already know a lot about others, thanks to social media. People have completely forgotten how to think for themselves and publish practically everything about themselves, which ultimately leads to tragic consequences.

[Hispo]

Decentralized Gambling can usually be good or bad but it majorly depends on User behaviour,adaptability and organization.Everyone's knows the difference,if users corresponds and act responsibly it channels freedom,but the reverse leans towards fraudulent expectations.

Also, you need to consider the fact most of decentralized platforms and casinos are not as decentralized as they advertise themselves.
Sure, they run on smart contracts and they can be audited. But if people looked closely and researched further, they would realize those smart contracts are controlled by the private master key of the owner of the casino.

So there is not as many differences between so-called decentralized casinos and the classic casinos we all know.

Perhaps the biggest difference is a laxer regulation we can find decentralized casinos, in comparison to classic cryptocurrency casinos.

[stompix]

According to this article: The Main Advantages of Decentralized Casinos, decentralized casinos offers freedom to their users by removing intermediaries and allowing them to gamble directly from their wallet.  It also gives an instant payout since the winnings are directly deposited into the user.  

That's just an ad for their product, and it's not decentralized by any criteria
- It runs on a private server
- You have licenses from third-party operators
- But most importantly, you have the wallets, you don't want to pay you don't pay.

There is nothing decentralized in that casino!

[shinratensei_]

Decentralized gambling is just ass. Mostly of them were bunches of fraud platforms that used "Decentralized" word to sell their gimmick. Saying their platforms being decentralized just to fool others with expectation to decentralize everything.
Didn't you remember moonbet? Yeah this platform claimed to be decentralized casino, then it's gone. Anything that claimed to be decentralized needs to be suspected.

[Akbarkoe]

Decentralized gambling is just ass. Mostly of them were bunches of fraud platforms that used "Decentralized" word to sell their gimmick. Saying their platforms being decentralized just to fool others with expectation to decentralize everything.
Didn't you remember moonbet? Yeah this platform claimed to be decentralized casino, then it's gone. Anything that claimed to be decentralized needs to be suspected.

Yes, you're right, it's just a very annoying gimmick and it can be considered a scam. Even some other casinos that claim to be decentralized do the same thing. From a business perspective, it's very difficult for decentralized casino developers. After all, a machine must be well managed and they need to find a loophole to make a profit.

Decentralized means open or transparent, and in the world of gambling, that's very difficult, except for some specialized games like poker or others where you play against other people. But when you're playing against the house, it can't be open.

[serjent05]

It can happen on centralized casinos but the occurrence can only be rare due to how they work. Casinos are smarter than us, so before we think of that idea to launder money, they already know it. Yeah there are still other ways to do money laundering but it is just that we are currently at the casino section, so this is the ones that is mentioned. Casinos can also be easier to use than the others.

My point was that since we know that money laundering is also possible in other ways, why should one blame decentralized casinos? The author and some people claim that decentralized casinos are used for money laundering because they are not regulated. They should know that there are thousands of unregulated exchanges, mixers, and crypto platforms that can be used for money laundering.

If you cannot stop these platforms, you should not point fingers at the decentralized casinos without any proof. eXch was accused of using them to do money laundering, and they had to shut down the exchange. We lost a good exchange to be honest. We need more decentralized platforms.

You have a point, but a company being suspected of laundering money has lots of things to prove; if they failed to prove themselves innocent, then the court decides whether the suspicion is "probably "true.  Remember, we never know what happened on all their transactions, so saying that they are unblemished is somehow biased and at the same time saying they are laundering money without holding any solid proof is also biased.  At the end of the day, most rely on the court verdict to legally label a service as a gateway to launder money.  Sadly, most of these courts are influenced by the authority.

At the same time, just because other platforms are laundering money, it is ok to ignore another platform that is also laundering money?  As the discussion agreed, any financial platform can launder money, so it is not wrong to point out a single platform to have a discussion.  The discussion does not remove the fact that many other platforms are also laundering money.

As for many platforms that claim to be decentralized services but in truth they are just pretending to be, we cannot deny that this statement is true. But there are other decentralized gambling platform and take note, it is not saying a casino platform, that are decentralized, they run with smart contracts under a certain blockchain.  Whether the smart contract is controlled by the developer is for us to prove.  Saying it is controlled by the developer without any proof is just speculation.