Bettors: the Cash Cow for authorities & Investors in the industry

[EluguHcman]

The gambling industry is no more friendly, it is like every sides with authority is just looking out to when anyone falls victims so that they can be charged with legal fines for breaking the rules.

While the governments may fine casinos and gambling sites for breaching the licence regulatory policies in their various jurisdictions, the casinos and gambling sites are there exercising their own authoritiveness on gamblers on bypassing their Kyc's.
And of all these authories, the bettors remains the vulnerabilities in the playground of the regulating casinos and the gambling companies.

Perhaps the betting industry has become a very lucrative business place for investors and the governments being aware of it is why they consciously fines the casino's with all the huge amounts of thousands and millions of $, £ and the rest for their illegal operations and the sites knowing how profitable the market is clears the fine just to remain active.
And with some of the casinos and gambling sites hiden some of its T&Cs, it is very unfair for users experiencing casino suddenly requests for KYC unjustly or allowing users make deposits and play fairly but when you win hugely, they reveals their hidden policy with some of them aiming to forfeit the players funds over bypassing with VPN or requesting KYC.

This similar game is what the governments also plays over the casinos who are operating without license in highly regulating areas, the government allows them dominates before placing charges on them.
Of course these are realities from experiences.

Don't you think there is a Smart Play in the industry?

[coin-investor]

..the bettors remains the vulnerabilities in the playground of the regulating casinos and the gambling companies.

Gamblers are willing victims, whether they are playing for fun or for money; they are the cash cows of these entities, and they don't care as long as they are given a chance to win and to enjoy, they will turn a blind eye or ignore being the cash cow, they even treat casinos as a platfrom of opportunity, yes bettors are the cashcows for authorities & Investors in the industry, this is what they sign up when they agreed to the terms and the house edge.

[Btcdeybodi]

Any sensible casino will not want to operate without a license because they know how funny the government can be by imposing heavy fines and regulatory sanctions on casinos that are not licensed when they observe that the casino is becoming popular since they know that it will be difficult for them to halt their operation.

About the aspect of bypassing KYC verification, it is mostly done to drag many customers to the casinos then after some time they will be required to undergo KYC. If you are someone that stake bets to win huge amount just make sure you do KYC verification as soon as you open a casino account because if you think that a no KYC casino will not ask you for KYC when it involves a huge win then you must be joking.

[Hispo]

I mean... We are supposed to be pretty aware and clear about how all aspects of life, all activities and goods in our life are actually ways for companies and individuals to make money.
Food, technology, entertainment, art, energy, logistics, and so on...
If casinos are allowed to exist in our countries, it is because they generate money for both the government and for the casino administration itself. It should not surprise us at all. Don't your think?

If there was not a flow of money because of activities like gambling and betting, then they would not exist at all. Nobody provides a good or some service to lose their time and effort, they do it because they want to turn their time and effort into money.

[Nightwalker(NW)]

The most important thing I would be saying is that anyone who is out there thinking of gambling it would be that better to always check out the Terms and Condition as this is the major key factors that attributes to gambling by revealing things that you don't know.
Gambling is something that you must learn before funding your account, because most the gambling site immediately to know there is huge money they wouldn't allow you to have access to the fund because they knows that is either likely to scammer hence asking of Documentation is not actually that bad because that is the only medium they would used to verify if is the real owner that is handling their gambling account.

[nelson4lov]

These casinos and sportsbooks are now major sponsors of politics and even sport teams like football clubs and such. Their major source of revenue is money lost by bettors so it's very easy to see that bettors are the ones funding most of these things. One would think that the authorities and gambling regulators right now have gamblers best interest but so far, they only go after sportsbooks, casinos and recently, prediction markets only when they don't get anything in return.

[KTChampions]

~
This similar game is what the governments also plays over the casinos who are operating without license in highly regulating areas, the government allows them dominates before placing charges on them.
Of course these are realities from experiences.

Don't you think there is a Smart Play in the industry?

How could it be otherwise if officials are meddling in business? If governments didn't create unnecessary restrictions and regulations, gambling wouldn't be in a gray area (where all sorts of scammers obviously thrive). I agree that the situation in the industry is complicated by the existence of people who cannot cope with their addiction on their own, but officials are shifting these problems onto normal people, which is unacceptable.
I don't know what you mean by Smart Play in the industry, I'm satisfied with the presence of crypto bookmakers without KYC, that's all I need.

[EluguHcman]

Any sensible casino will not want to operate without a license because they know how funny the government can be by imposing heavy fines and regulatory sanctions on casinos that are not licensed when they observe that the casino is becoming popular since they know that it will be difficult for them to halt their operation.

You are only talking from your genuine mindset but I am sure you are also aware that there are still most of the casinos operating illegal even in highly regulating areas.

Of course they are also aware of the risks and penalties but the rhythm behind that their ignorant is the fact that they can still afford the fine after being captured users in their platforms believing negotiation can sort it when they gets apprehended and sectioned by the government.

About the aspect of bypassing KYC verification, it is mostly done to drag many customers to the casinos then after some time they will be required to undergo KYC. If you are someone that stake bets to win huge amount just make sure you do KYC verification as soon as you open a casino account because if you think that a no KYC casino will not ask you for KYC when it involves a huge win then you must be joking.

This is very crucial and very risky for those who finds it easy to bypass the sites polices because you will be thinking for the fact you have got access to the site that you have scale through freely, you are definitely going to be on a watchlist by the management and you are definitely going to get hit hard when you falls into their trap.

[Odusko]

Gambling sites/business is a means of making money for those that run the business and also to the government through licensing and tax collection, in this event, gamblers are the fuel and the main target and financier of the business and this is very clear and understandable right from the very start, so as gamblers we must have all of that settled within our mind before we visit casinos either for fun or for money interest and making sure that we are clear with everything as concerns they rules and regulations.

[rbynxx]

Bettors here are the most vulnerable. The regulators can fine these casinos, the casinos will just pay and they will continue operating considering it's just a cost of a fraction of what they can get from their profits, but players have no other edge if the casinos suddenly enforce some rules and sometimes this is the real truth. I think most casinos are just fine if they got that huge amount of tax because in the end this business is profitable, government on the other side is always a win-win.

[AmoreJaz]

Gambling sites/business is a means of making money for those that run the business and also to the government through licensing and tax collection, in this event, gamblers are the fuel and the main target and financier of the business and this is very clear and understandable right from the very start, so as gamblers we must have all of that settled within our mind before we visit casinos either for fun or for money interest and making sure that we are clear with everything as concerns they rules and regulations.

Of course, just like any other business, they have their customers. And when it comes to gambling - it is the bettors that they are catering with. So yeah, casinos or other gambling sites are earning owed to their gamblers. What else? So they need to take care of their patrons and so with the legalities around it to continue serving their players.

[o48o]

1: The gambling industry is no more friendly, it is like every sides with authority is just looking out to when anyone falls victims so that they can be charged with legal fines for breaking the rules.
-cut-
2: While the governments may fine casinos and gambling sites for breaching the licence regulatory policies in their various jurisdictions, the casinos and gambling sites are there exercising their own authoritiveness on gamblers on bypassing their Kyc's.
-cut-
3: the government allows them dominates before placing charges on them.
-cut-
4: Don't you think there is a Smart Play in the industry?

1: Dude, when was gambling industry more "friendly"? And friendly with whom?

2: Casinos aren't doing anything more then complying with regulations. It's not registering and your gambling that triggers their automatic responses, it's the withdrawing significant enough amount of money, because that's what counts in terms of AML. And it's not like they could choose if they comply these rules, as they are risking jail time if they won't.

3: Governments have priorities, and don't have enough resources to prioritize some unknown casinos.

4: I don't have a clue what you are trying to ask here.

[PX-Z]

Well, in every type of business, users, customers, or clients are essentially the cash cows. The difference with gambling is that gamblers willingly put their money on the line, almost like saying, "Here, take my money, I might lose it anyway."

That's why casinos heavily promote the idea that gambling is mainly for fun or entertainment. But in reality, it has always been the same since ancient times, people gamble primarily for money.

[Alphakilo]

These casinos and sportsbooks are now major sponsors of politics and even sport teams like football clubs and such. Their major source of revenue is money lost by bettors so it's very easy to see that bettors are the ones funding most of these things. One would think that the authorities and gambling regulators right now have gamblers best interest but so far, they only go after sportsbooks, casinos and recently, prediction markets only when they don't get anything in return.

It's almost as if all the government or regulatory bodies want from these gambling businesses is their fair share of the pudding rather than actually try to combat the rise and addiction caused by excessive gambling activities.
The gamblers are the ones majorly faced with the hard rules and of course gets the blame most of the times when a platform they patronize manhandles their funds or rewards because they think the gamblers defaulted. They know many gamblers find it hard to read the T&Cs and the government on the other hand enjoys their revenue as long as such business is registered and abides by regulations of the state.
No one really cares about the addiction problems and when they seem to care, it must involve funds, so who's fooling who? It's all business all the same.

[Oasisman]

Don't you think there is a Smart Play in the industry?

I think a casino with no proper licensing who becomes huge is noticeable enough for the government to conduct inspection about their licensing and legalities.
I'm not sure if it is deliberate and some "smart play" or a trick to sue a casino so they can continue their operations. I mean, the government can always act just before the casino made a big name in the industry.

Anyway, those "hidden" rules under the casinos T&C is illegal. Everything should be clear and visible. We can always contest and file a complaint for being tricked. But, just before something like this happen to you, consider playing in a casino that does initially not require one. Crypto casinos are known for it, but be also aware that some reputable casinos have risk-based trigger system. That means you need to do KYC if you hit certain thresholds. If you're not a huge roller, then this should not be bothering you.

[EluguHcman]

Bettors here are the most vulnerable. The regulators can fine these casinos, the casinos will just pay and they will continue operating considering it's just a cost of a fraction of what they can get from their profits, but players have no other edge if the casinos suddenly enforce some rules and sometimes this is the real truth. I think most casinos are just fine if they got that huge amount of tax because in the end this business is profitable, government on the other side is always a win-win.

It is obvious that you understood the terminology very pretty well.
The government is at the top level and have nothing to loose while they invests their zero resources other than roaming to catch victims on target like anti scam systems.
Their own is to sanction fines basically targeting the betting companies while the betting companies take hold on the bettors as a source of revenue to generate their incomes and to pay their taxes.
They are less fear of sanctions because they can always get the funds from players.

So literally, the bettors has no edge over the regulatory system in overall.

[Ronsbit]

Gambling sites/business is a means of making money for those that run the business and also to the government through licensing and tax collection, in this event, gamblers are the fuel and the main target and financier of the business and this is very clear and understandable right from the very start, so as gamblers we must have all of that settled within our mind before we visit casinos either for fun or for money interest and making sure that we are clear with everything as concerns they rules and regulations.

Of course, just like any other business, they have their customers. And when it comes to gambling - it is the bettors that they are catering with. So yeah, casinos or other gambling sites are earning owed to their gamblers. What else? So they need to take care of their patrons and so with the legalities around it to continue serving their players.

The way it is in business that customers pay to vendors and the vendors pay to the government that which belongs to them such as taxes and others dues due the government for operating in their jurisdiction. That is how it is in the casino industry. The customers are always the cash cow of the both parties because they patronise the business to pay for which you already know that. So the casino makes good profit out if the whole process so they could be able to sort out things as it relates to running and maintaining the casino to be able to continue rendering quality services to the community.

[Fivestar4everMVP]

And with some of the casinos and gambling sites hiden some of its T&Cs, it is very unfair for users experiencing casino suddenly requests for KYC unjustly or allowing users make deposits and play fairly but when you win hugely, they reveals their hidden policy with some of them aiming to forfeit the players funds over bypassing with VPN or requesting KYC.

This similar game is what the governments also plays over the casinos who are operating without license in highly regulating areas, the government allows them dominates before placing charges on them.
Of course these are realities from experiences.

Don't you think there is a Smart Play in the industry?

The truth of the matter is that there is always a smart play in an industry or environment where money is involved, and we have to realize that making money is not just about working hard, it's also involves being smart in all your dealings as well, infact, if we actually will sit down and watch carefully, you will realize or see that working hard is no longer as profitable as it used to be in a past when technology wasn't as advanced as it is today.

So, I think ever bettor needs to wise up, this is very important to avoid being or getting into troubles with the casino that will cost us our money, because we all will agree that up till now, casinos won't hesistat to pounce on a user they find breaking their terms and conditions, this is where some casinos makes extra monies from, from confiscating to seizure of the balances on offending user's accounts.

[danherbias07]

It's not just licenses and regulations anymore. Even in-game, there seems to be a big difference from how it was played before.

Gamblers will be the ones who will pay for everything.
Local casinos, specifically. This service became a money-eating machine. Their AI will answer the same when you ask about RTP, and it will tell only about the RNG. It became harder to win. It's like we are giving away money for charity, and they won't even send it to help people.
This is why I don't like playing in the local online casino anymore. Most of them are licensed, but they take everything from the gamblers to pay for their business. I think that's the big reason why investors are flocking to this gambling industry. There's money coming in even without investing continuously. They just need the initial investment to make the service work.

[rbynxx]

Bettors here are the most vulnerable. The regulators can fine these casinos, the casinos will just pay and they will continue operating considering it's just a cost of a fraction of what they can get from their profits, but players have no other edge if the casinos suddenly enforce some rules and sometimes this is the real truth. I think most casinos are just fine if they got that huge amount of tax because in the end this business is profitable, government on the other side is always a win-win.

It is obvious that you understood the terminology very pretty well.
The government is at the top level and have nothing to loose while they invests their zero resources other than roaming to catch victims on target like anti scam systems.
Their own is to sanction fines basically targeting the betting companies while the betting companies take hold on the bettors as a source of revenue to generate their incomes and to pay their taxes.
They are less fear of sanctions because they can always get the funds from players.

So literally, the bettors has no edge over the regulatory system in overall.

It's not rocket science or something, it's plain and simple and that's been the way it has been even in the ancient times. Money and power is the weapon used by the casinos and those in the government. It's always been the scheme of things but as players we blind by what we can just extract on our winnings that the big players are the one extracting a lot on all of us. Well, it's not that it's new but let's just say we are just getting accustomed of it.