The Danger of online Crypto Gambling platforms/crypto related Scams on the rise.

[Fortify]

With the advent of the Internet alot of things that used to be done physical has also gone online and the gambling community is not an exception to this. Before now in my country gambling was done manually in the sense that you have to go to the gambling shop to gamble even that, you have to write it down and go later to check the number that you gamble on,because in those days gambling was not common. But later that too changed to computer gambling that was when most Casinos started penetrating to my country. When you go to the casino shop you will write down the codes of the games you wants to bet on   and give it to the attendant and it will be printed for you. But now we are entering a new era and that is online gambling now you don't necessarily  need to go to a physical shop but everything can be done at the convenience of your home. And this also has brought with it some levels of risk associated with online gambling especially crypto enabling gambling.
 But have you  once taken into consideration the risk that is associated with gambling online, going through this forums especially the board dedicated for casinos to advertise their Brands you will see different complaints about different casinos from members of the forum and almost on a daily basis you see different casinos coming to advertise their brand.Most crypto casinos operate outside traditional gambling regulations. It should be noted that Crypto casinos can be tempting because of their speed, anonymity, and global access, but they also carry high risks of fraud, loss, and lack of protection.Gamblers should only use licensed, well reviewed platforms, because there is a high risk of losing your money gambling online especially on casinos that, enable crypto gambling alot of scammers has taken to opening fake online gambling sites and has cashed out big.

Wow you formatted your whole post terribly - it's super difficult to read and barely comprehensible. Half the points don't even have examples or anything to back them up, like saying "they could be scams" is pretty lazy because almost any site may be trying to scam you these days. All the stuff you state is pretty obvious but also vague in places, what does "legal uncertainty" even mean? Lots of the biggest gambling companies actually have headquarters within places like Europe, so are fairly safe if you're able to track that down. They'll often have licenses from offshore jurisdictions because people can feel very aggrieved when you take their money, even if they should know what they're signing up to do.

[adultcrypto]

There are many online casinos that have been in business for over a decade now yet they have not disappeared. I will not nurture these thoughts because I have seen casinos that have built so great a reputation that they will not contemplate scamming their users at the detriment of their business which they have spent years building. Instead of having this negative mindset, simply channel those energy into chosing reputable like the brand whose signature I'm wearing, you can be sure that they are not going anywhere with your money because they have a reputation to protect.

[Olotu20]

Snip

what does "legal uncertainty" even mean? Lots of the biggest gambling companies actually have headquarters within places like Europe, so are fairly safe if you're able to track that down. They'll often have licenses from offshore jurisdictions because people can feel very aggrieved when you take their money, even if they should know what they're signing up to do.

@Fortify you used some strong swords that were not necessary, you are trying to downplay a very critical point that, I was trying to address. From my write up it was clear that was not trying to generalize all Crypto casinos as been fraudulent. But the point that, I was trying to make is the advent of crypto gambling companies which are taking over every where. I was only trying to drive home the point that there are actually dangers that are associated with crypto casinos because whether you like it or not there are cases even on this forum that has not been settled. Instead some  Casinos will go ahead and close down the account of customers using flemzy excuses.  You are talking about Casinos operating from Europe how can i be using a Casino from Africa and the headquarters or license of such a casino is in Europe. If any issue comes up I have no legal backing from my country because regulatory differences occur, the standard of Europe when it comes to regulation is different from that of my local country of residents so trying to down play the point I was driving home  is unnecessary. Youn can criticize the way I presented it but the message is clear.

[aioc]

Gamblers should only use licensed, well reviewed platforms, because there is a high risk of losing your money gambling online especially on casinos that, enable crypto gambling alot of scammers has taken to opening fake online gambling sites and has cashed out big.

What attracts many gamblers to new casinos is the bonuses, to the point that they forget what makes a good casino. It's not that we shouldn't give these casinos a chance, but we should also check the warning signs, play only a small amount, and see whether the casino has the potential to become big in the future.
A responsible gambler not only practices safe playing but also plays in the right casino. It will cause depression if you've been scammed by a casino you trusted with your money.

[Darker45]

There are security measures you can use to protect yourself. Choosing a popular and established casino, for example, would reduce risks significantly.

Making sure you can verify fairness yourself is another thing that traditional casinos can't offer. You talk about the old manual ways of doing gambling. I guess we're a lot better now. Before, there's no way you can make sure the results aren't rigged. If there are audits, everything happens in closed doors. You need to trust them. You have to trust their certificates and other pieces of paper. Today, you can verify the randomness of the result yourself.

[maydna]

The only thing you can do is be careful when choosing the casino. Search for more about casino so you can get more information. Scams will always be there so only by being careful, you will avoid them and choose the right casino to playing gambling without problems.

The other thing you should think about is only using the money you can afford. That will prevent you from losing especially if casino runs away with the money. Your loss will not be as big as others because you don't risk too big money.

Don't just pick the casino that you don't know much but verify it so you will not get into trouble. This forum has many legit casinos you can use so you don't have to worry.

[joniboini]

The other thing you should think about is only using the money you can afford. That will prevent you from losing especially if casino runs away with the money. Your loss will not be as big as others because you don't risk too big money.

To be fair, for some people, the amount of money they can afford to lose is so big. Someone can spend thousands per day and feel no problem with their daily life after that. It's not exclusive for gambling tbh. Some people can spend a lot of money with no issues. That being said, only we know what our limit is. Just because someone spends thousands and loses it daily doesn't mean you should do it.

[shasan]

There are a lot of shady casino and those who are experienced about crypto and gambling may not fall on the trap of the shady casino. But those who are not aware aboiut the shady casino may engage with those casino and become scammed by the so called casino which is not expected.

[Doan9269]

There's scam everywhere, we should be informed about that, also, in gambling, we must be able to know what we want and try the best of our abilities to identify how we could go gambling for better experience in it, in life, we can't do without going through the hard way, that is why there's risk in anything we do, but how informed we are determined the condition of what happens to us, therefore, it's more of our personal role to choose from between how we want to gamble and make use of crypto for our own interest.

[lionheart78]

There is indeed risks in engaging with newly established casino, and it is more risky to engage in shady, unlicensed casino platform.  I have seen that shady casinos that lack a license everywhere, most of them can easily be identified by how they manipulate bet results, making the players win a good amount, but later require a certain amount of deposit to withdraw funds.

I also notice these shady casinos let players win easily on slots, dice, or any luck-based game as if it were a sure thing to win.  Some casinos also trap their new players into spinning on something to win a certain amount but will never complete the challenge unless the player invites someone to join the platform.

If you see these kinds of signs, better to avoid such a platform because there is a huge chance that this platform will run away with your money as soon as you deposit a certain amount to it.

[YOSHIE]

The Danger of online Crypto Gambling platforms/crypto related Scams on the rise

Whatever the online website, if your identity enters everything is not safe, your identity data at the bank is also not safe, let alone the gambling industry.

We all understand the dangers of the internet, including online crypto gambling platforms, but that is human life today, all activities are carried out online, WhatsApp, Facebook, X, Instagram and other social media are also unsafe and dangerous in terms of your identity.

So, just enjoy the Online Crypto Gambling Platform that you registered and carry out your current activities, if we think strange things, of course it's strange, so think positively, everything will be positive.

[HONDACD125]

The safety of your funds is always in your own hands, and it's your responsibility to make sure that you are using platforms that you know are trusted and reputable, and it's not that difficult to find that out, especially if you are a part of public forums such as this one, because a single thread or question can get you a bunch of reponses from people who have used the platform you are asking about, and that will make it clear whether the platform is trsuted or not. People often choose new platforms because of promotions and bonuses, without even thinking about the safety of their funds.

Greed is your enemy, so you should be careful of it. If you are joining a casino platform only because you want to get a big bonus, or you think that an ongoing promotion might help you make money, and then you realize that you have joined a platform that isn't trusted because you start facing problems with your deposits and withdrawals, and you don't get satisfactory answers from the support when you ask them about it, that's your own fault, because you didn't do any research about the platform before joining only because you got greedy.

[crwth]

This is quite easy to evade; you just need to play at reputable online casinos. Indeed, casinos can shut down and disappear, but with a good casino, its reputation on the line, I don't think it will be easy or worth it for them to do so. As long as they are operating legally and have the right compliance and frameworks in place, it should be okay.

[Agbe]

Fiat might be worst than crypto casinos. Though all the things that were happening which I know happening in the crypto casinos buy they are not worst than the Fiat instead the reverse is the case. Someone won millions in fiat Casino and he was not paid, he took the casino company to court and, it was half of the money was given to him. Though we have also seen crypto casinos asking for KYC after winning huge amount. In both side, there are good casinos and bad p

[swogerino]

Fiat might be worst than crypto casinos. Though all the things that were happening which I know happening in the crypto casinos buy they are not worst than the Fiat instead the reverse is the case. Someone won millions in fiat Casino and he was not paid, he took the casino company to court and, it was half of the money was given to him. Though we have also seen crypto casinos asking for KYC after winning huge amount. In both side, there are good casinos and bad p

Fiat are well known for limiting winning players, and some major ones from them with bet365 being on the top of the list. Luckily nowadays only relatively old people, 50-60 years or more still use such platforms while new generation up to 40-45 years old like more the crypto casinos that we are overrun with nowadays. Scams have been well known going in any industry since the Internet become a massive thing and crypto casinos are no exception target of these con artists. The good thing though is that here in this forum I have said many times before and I find a chance to say it again, we have a big number of ANN threads for any crypto casino out there and if the feedback, trust and comments from users are good we can assume that casino to be safe.

[Smartprofit]

That's why we play at trusted online casinos. 🙂 And (I think I'll express a general idea) for visitors to this forum, trusted online casinos are precisely those online platforms that are actively advertised on the Bitcointalk forum. 🙋

Communication on our forum includes (among other things) communication with online casino managers. This protects players from all the problems listed in the first post in this thread (as it allows for the creation of a communication system with feedback).

At the same time, of course, certain precautions must be taken (for example, not storing excessive amounts of money in online casinos). However, the need for such precautions has long been obvious to all crypto enthusiasts who have ever traded on centralized cryptocurrency exchanges.

So, choose any casino advertised on the forum and enjoy the thrill of gambling! 🎰

[Findingnemo]

I guess it is a misleading title, what you are saying is the possibility of happening but how many casinos just disappeared over the night with users' money? Legitimate casinos plan for long term success not just a one-time scam attempt and if you don't know yet then let me tell you that successfull launching a crypto casino is not a simple task, it needs millions of dollars to have a good size casino and then the legal fees and everything.

So if someone wants to scam few thousand dollars then casino is not their best pick.

[ZeroVinsonN]

Sadly any system these days can be an avenue for scammers to exploit and scam innocent people so it's not even surprising that crypto gambling platforms are also on their radar these days and this is why good reputation matters with these things, you should open an account with a casino that just popped out from nowhere and boom people are winning easily on these platforms, that's a greedy magnet and it causes people to rush into these platforms to gamble and then ultimately gets scammed in the process, best to just stick to recognized casino.

[danherbias07]

They cannot just shut down and walkaway if they are a regulated casino. Let's also not forget about that.

If they do that, they might as well go back to their mom's womb because it will be the people who will take revenge when they are discussed. A rug pull just means they are not considerate about their business. Losing the trust of the gamblers does more work than those who have applied for. It's truly a crazy world now. This era of online casinos makes money through us, but the wise ones will probably be the online casinos where we spend it all for food and entertainment.

[_BlackStar]

Sadly any system these days can be an avenue for scammers to exploit and scam innocent people so it's not even surprising that crypto gambling platforms are also on their radar these days and this is why good reputation matters with these things, you should open an account with a casino that just popped out from nowhere and boom people are winning easily on these platforms, that's a greedy magnet and it causes people to rush into these platforms to gamble and then ultimately gets scammed in the process, best to just stick to recognized casino.

New casinos are popping up in this industry every day – so I guess you can never completely dismiss them just because they are new. Reputations can be built and destroyed overnight with just one mistake – so I don't think all existing casinos can guarantee anyone's safety in the future. You can trust them with a small amount of money - but you still shouldn't keep your money with a third party because that's the right advice.

Not all new casinos are bad – even the crypto casinos that have now built a good reputation were once new themselves. You can be suspicious of them - but completely ignoring their potential is something that might not be a good idea.