Don't trust a casinos without a license

[Woodie]

I even read in a reddit post that there is a scam casinos that are going around. They have license though, but not sure if that is legit or not as I didn't check. But I did go and see if the casinos is still online and so it is.

I have seen one like this...it's starts off with a sign-up bonus of $2500 then after that like any normal person you play and try to withdraw they now ask you to go through the KYC process and claim its sumsub but just a fake because anybody that has used this before knows how it operates but they fail you then ask you to deposit for your KYC to be verified and in some instances tell you to put in your private key and all that sh*t...it looks dumb but people fall for themselves tricks unfortunately  


Took some screenshots, let me see if I can find them...and this came from the Arweave Discord not sure if they got hacked because that was a good project..

...

[rdluffy]

I'm curious now

What is the name of this casino?
Is it present here on the forum?
 

[_act_]

Wait a second, do we have licensed casinos that don't have KYC and all the safety measures and other KYC protocols in place ?

There is, but most of those are just marketing tricks.

We see a lot of casinos advertising “no KYC” or “anonymous casino,” but in reality they still require KYC sooner or later.

You can actually check the TOS, it’s written there, so it’s not really hidden, but yeah it’s misleading. Most gamblers don’t read anything, and they only realize it once they run into a problem, then the regret comes after.

There are some that are not marketing tricks but I have heard of gambling sites that will states that they require no KYC on their home page of the gambling site but on their terms of service, they make KYC mandatory. It will be in a way that you can deposit and gamble without KYC but you can not withdraw without KYC. Those are shady gambling sites to me.

But no matter what, gambling sites are centralized. They may see a suspicious activities like someone suspected to have multiple accounts or because of geolocation restriction reasons or AML and others, some sites that will not require KYC for withdrawals may demand for a customer KYC documents.

[Hypnosis00]

A license is not just a decoration that a casino could have, but a ticket for having trust.

For gamblers, it was a reference for choosing a casino. That is why it matters a lot for us.

But for the sake of argument, if those casinos have licenses, they can be trusted. I agree. However, we also need to do some research because some casinos have licenses, but they are still doing illegal things.

A responsible gambling habit still plays an important role. Choosing the right casinos does not happen by accident but with some reasons for determining it.

[masulum]

I have no knowledge about license, so my question is "are all those licensed casino being audited by the license"?
License has nothing to do with accusation as well IMO, feel free to correct me if I'm wrong because from what I can see here is that most accusations against licensed casino is solved without any in intervention from the license regulator.
For me, the most important thing is not about license but about how they casino try to prove themselves that they are reliable enough.
Is there any example when license regulator help gamblers when there is an issue in the casino (at least in this crypto space)?
I'm not against license but I just dont take it as a main reference when I have to choose a casino, I'm afraid if people started to use license as the first main factor when choosing a casino while there is still no guarantee that licensed casino will never be a scam in the future.

I don't have much knowledge too, but afaik, some of license company, will need the audited reporting before granted the license, such as MGA.
and about license not helping to disputes, i want to make it clear, the accusation/disputes between customer and casino), and license regulators, have the service to help customer, just like a disputes resolution mandate by regulator it called as Alternative Disputes Resolutions (ADR), one of source you can read about ADR, here. Of course it wouldn't guaranteed to solve quickly, but with license there is a way to getting help for any accusation.
well, I agree license not 100% guaranteed the casino wouldn't end up as a scam, but just think about if licensed casino having that possibility, unlicensed casino can have more higher possibility for exit scam.

CMIIW

[Die_empty]

I recently noticed an online casino that looks very likely to turn into a scam. As far as I can tell, they don’t even have a proper license, and there’s no clear TOS like most legit casinos have. It’s basically just trust us and play which some gamblers find convenient, but on the other side, that’s already a red flag for me. Still, no one really criticizes them until something bad actually happens.

And right now, that feels really risky, at the very least, players should be checking a casino’s license before depositing.

A license doesn’t guarantee they won’t scam, but it definitely lowers the risk compared to platforms with zero transparency.

Not just checking if they are licenced, it should be confirmed. Some casinos just write on their platform that they are under a licence but they are just lying. I saw a list of fake casino from one licensor. These casinos are using the name of these regulatory bodies yet thay are not formally registered.

License is not a human that are casinos is reliable but it give some level of security.  Atleast you have an organisation to complain to if you are not treated fairly.  Using a casino without lincense is like putting your funds in a unregistered bank.

[Smartprofit]

For me, the fact that an online casino is advertised on the Bitcointalk forum is much more important than whether it has a license. 🙋

Of course, when I buy a service in my country, it's crucial for me that the seller is properly registered with the tax authorities and has all the necessary licenses. Because my country has a Consumer Protection Law. And I can rely on this law to protect my violated rights.

However, in the case of an online casino, we're talking about a transnational business... Let's say I have information that the online casino is licensed in Curacao... But I don't even know where Curacao is on the globe! If the case goes to court, do you really think I'll board my private jet 🙂 and fly to the island of Curacao (located somewhere in the ocean) to defend my violated rights there?

 Of course, a licensed casino is better than an unlicensed one (that's a fact), but frankly, a license doesn't guarantee anything for me as a player. When choosing an online casino for gambling, I rely more on other selection criteria.

[rachael9385]

There are lots of reasons why you shouldn't trust a casino without a license, these casinos cannot be monitored or regulated by the appropriate authorities which means that they can get away with Anything and you wouldn't be able to take legal actions against them. Their gamea sre are not provably fair, everything is designed to cheat the gamblers. unlicensed casinos are mostly fraudulent.

[Bitcoin Smith]

Choosing a casino with license comes with trade offs such as you need to go through mandatory KYC which wasn't the case before 5 years ago when users can still gamble with no KYC and think that their privacy is maintained but now things changed completely.

Even a licensed casino can scam people but cost of acquiring a valid license isn't cheap so not just a random user with a hundred dollar create a website and scam people, only serious people can go thorugh the legal process of getting license so most likely they want to pursue this as abusiness rather than just a scam scheme.

[sleepfirefly]

casinos that promote themselves as decentralized may say they operate without a license and it’s your own choice whether to take that leap or not. license doesn’t prove legitimacy but it can protect you from scams if ever the casino does turn out to be one.

[iv4n]

A license doesn’t guarantee they won’t scam, but it definitely lowers the risk compared to platforms with zero transparency.

Some of the biggest crypto casinos around started without licences, simple trust... So I am not sure that the licence is as important as we think it is. Since having a license doesn't guarantee anything, it's not here to protect the players... it exists to protect casinos themselves.

I am not a big fan of regulations, but they are coming. I guess we can hope that some of them will be more about protecting players and fair play, not just casinos and how they tax.

[Agbe]

I didn't know much about gambling until I joined the forum, this is where I learnt about the importance of making use of a licenced and registered casino. just in case something goes wrong probably a scam or fraudulent activity the casino can just disappear and you wouldn't be able to take legal actions, to start with they are not even regulated by legal authorities so doing this is going to be impossible.

[bangjoe]

I've stayed away from it since the license was applied and made mandatory. This is closely tied to minimal security, the problem is I think what if a big problem occurs and I can't sue them if they don't have a license, at least if there is a license I can submit a report and use the license issuer to evaluate the casino that is committing violations. If I use it, it's much better than no identity at all, just a service. I think in this era it's very easy to make it, saying trust us is just a statement without any evidence, everything looks gray to my eyes.

[dunfida]

Wait a second, do we have licensed casinos that don't have KYC and all the safety measures and other KYC protocols in place ?

There is, but most of those are just marketing tricks.

We see a lot of casinos advertising “no KYC” or “anonymous casino,” but in reality they still require KYC sooner or later.

You can actually check the TOS, it’s written there, so it’s not really hidden, but yeah it’s misleading. Most gamblers don’t read anything, and they only realize it once they run into a problem, then the regret comes after.

There are some that are not marketing tricks but I have heard of gambling sites that will states that they require no KYC on their home page of the gambling site but on their terms of service, they make KYC mandatory. It will be in a way that you can deposit and gamble without KYC but you can not withdraw without KYC. Those are shady gambling sites to me.

But no matter what, gambling sites are centralized. They may see a suspicious activities like someone suspected to have multiple accounts or because of geolocation restriction reasons or AML and others, some sites that will not require KYC for withdrawals may demand for a customer KYC documents.

As we do all know that crypto gambling was really meant to have that full anonymity or having that privacy and this is the main sole reason on why crypto gambling did boom up when it comes to popularity and wayback into those old years on which the number of casinos that popping out into this forum is lots on which they are trying out to get a marketshare specially that crypto space was still that very active wayback in comparing to now but still when it comes to demand and recognition then theres still that demand because if there's not then we wont be seeing these casinos running up until today. Casinos without having license wayback isnt just that much of an issue because just like been said that once it is that licensed then its considered regulated and once its regulated then you would be needing to abide rules and thats why people now are trying out to look into those casino sites that has some license on which they are treating it as an indication for legitimacy on which just like been said by others that this isnt that a full indication or something you can rely on if we do speak about legitimacy. Always double check for red flags specially if its still new.

[FirmWars]

I agree with OP, recently there was a casino that launched on the forum and one argument that I saw on their thread while reading it was them defending themselves after someone mentioned their form of licensing which was not clear enough, it turns out that the company wanted to scam and they succeeded in doing that to some victims whom they ceased their money. In my opinion, the licensing of a casino should be considered before choosing the casino, if they are not licensed, it's very possible that they can scam people and disappear.

[Zlantann]

There are some that are not marketing tricks but I have heard of gambling sites that will states that they require no KYC on their home page of the gambling site but on their terms of service, they make KYC mandatory. It will be in a way that you can deposit and gamble without KYC but you can not withdraw without KYC. Those are shady gambling sites to me.

But no matter what, gambling sites are centralized. They may see a suspicious activities like someone suspected to have multiple accounts or because of geolocation restriction reasons or AML and others, some sites that will not require KYC for withdrawals may demand for a customer KYC documents.

I see this no KYC promise as a promotional strategy to attract users. Most people are not patient enough to read the entire ToS (which is wrong), so they become victims. For casinos that are under a licence or are registered in a country, KYC is usually mandatory. So nobody should be decieved by surface advertsemnet that offers no KYC.

Casinos are permitted to investigate suspicoun of violation of ToS. But it becomes a problem when some casinos want to use these laws as stractegy to seize user's funds even when it is known that they didnt violate any law.   

[boyptc]

A license doesn’t guarantee they won’t scam, but it definitely lowers the risk compared to platforms with zero transparency.

It's also the same with the others that don't have a license, there are notable casinos that have never got themselves a license and they've proved themselves to be legit.

But standards are changing for every era and I like to get into a casino that has a license. And it's true that having a license doesn't guarantee them that they're not going to scam users.

Because they can always change their coarse depending on their goal or if it's part of their scheme that they'll have an exit when they've garnered enough deposits and users.

[Hispo]

I didn't know much about gambling until I joined the forum, this is where I learnt about the importance of making use of a licenced and registered casino. just in case something goes wrong probably a scam or fraudulent activity the casino can just disappear and you wouldn't be able to take legal actions, to start with they are not even regulated by legal authorities so doing this is going to be impossible.

Though, you also need to consider there have been casinos and gambling services which showed to be fully registered on their respective jurisdiction and yet, they ended up being bad services or selective scams.

Take for example what happened to Betnomi and 1xbit, the first one basically pulled off an exit scam and the second one ran a selective scam scheme for years, taking the funds of people who happened to win money on their casino.

So, even though having a license is important it does not guarantee the casino will be good. It just means they complied with some requirements on some formal jurisdiction, so they can be backed by such jurisdiction.

[qwertyup23]

I do think that more on the license of a casino, players should definitely consider playing at an established and reputable casino to begin with.

To give you an actual example, casinos that have been ongoing for years with consistent feedback from this forum are one of the safest websites to play on. Given that these casinos would not risk destroying their reputation, rest assured that whatever issue you may have, they will definitely take it seriously.

While I do agree with what OP mentioned that avoiding unlicensed casinos can be helpful in avoiding scams, on top of this, play at an established and reputable casino in order to ensure security and safety of your funds to begin with.

[lombok]

I didn't know much about gambling until I joined the forum, this is where I learnt about the importance of making use of a licenced and registered casino. just in case something goes wrong probably a scam or fraudulent activity the casino can just disappear and you wouldn't be able to take legal actions, to start with they are not even regulated by legal authorities so doing this is going to be impossible.

Though, you also need to consider there have been casinos and gambling services which showed to be fully registered on their respective jurisdiction and yet, they ended up being bad services or selective scams.

Take for example what happened to Betnomi and 1xbit, the first one basically pulled off an exit scam and the second one ran a selective scam scheme for years, taking the funds of people who happened to win money on their casino.

So, even though having a license is important it does not guarantee the casino will be good. It just means they complied with some requirements on some formal jurisdiction, so they can be backed by such jurisdiction.

The legal interest of a casino is not an assurance of financial stability and openness of the services we enjoy as active customers. You have rightly presented an actual example of how the oversight system could not stop criminal action that systematically victimises many human beings. The main duty that can be taken is careful choice of gambling places to ensure no harm on data and financial manipulation.