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

[Cointxz]

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.

Yeah and that’s the normal cash flow of any businesses as long as people keeps paying for that service.

However, Regulations should be tightened in terms of protecting users against casino since we are the one generating profit for them not the casino. There’s a lot of cases which casino usually managed to dodge payment responsibilities by using ToS as excuse against users.

It’s still a cycle even though casino is now being regulated. Maybe we need much better license provider compared to the existing.

[Darker45]

Here in my country, there's a lot of smart play involved in the gambling industry, whether legal or illegal. On the side of the legal, there's the huge taxes. On the side of the illegal, there's protection money and a significant share of the revenue.

But it seems to me law enforcers and regulators are helpless when it comes to huge resort casinos that are owned by the richest elites. They can't just watch their day-to-day operation and wait for them to commit a single mistake before meting out big fines. No, the powerful elites here are untouchable.

[Betwrong]

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. ~

Gambling sites don't need no KYC. It's the government that makes gambling sites to ask for it. Whether it's really necessary or not, I don't know, maybe to prevent money laundering on gambling sites, it is, but I what I want to say is another thing. Gambling sites entertain you and take a fee for that in the form of the house edge. That's it. They don't want you to go through KYC or lose all your money "to them" or any other stuff that makes them evil in your eyes. They want to be good guys.

[bitbollo]

In a certain way, the users, despite the power to choose the game and platform are most of the time unaware of what they are doing.
I would not blame the casino's for their service, gambling must be seen also as "entertainment" time. it's not only made for "spending money" or "get rich quick".
Authorities rarely have a real interest to protect users, since they are just focusing on collecting taxes.
Anyway, bitcoin and lately also crypto, could provide a new scenario for this industry. we are just see the beginning of it...

[Frankolala]

For your business to run smoothly, you need a license from the government. I don't see how the government is doing anything wrong to fine these casinos that are operating illegally in their jurisdiction. Gamblers are the cash cow because if they're no gamblers, there will be no casino and government wouldn't get money from casinos.

[Fiatless]

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

Hidden policies by the government or casinos is unfair. The casino is supposed to have a legal team that is in charge of scrutinising all the documents relating to the gambling sector in a particular jurisdiction. Before they decide to pay for a license and sign contracts, they should be aware of all existing laws. The government has no right to enforce a law that is not included in the contract. These casinos should also be informed that these laws have been amended.

The same thing also applies to casinos and gamblers.  A casino has no right to enforce a policy that is not included in the published Terms of Service. Any casino that hides or changes its ToS without informing users is fraudulent. However, in most cases, gamblers fail to read and understand the ToS.

[LastKiss]

For your business to run smoothly, you need a license from the government. I don't see how the government is doing anything wrong to fine these casinos that are operating illegally in their jurisdiction. Gamblers are the cash cow because if they're no gamblers, there will be no casino and government wouldn't get money from casinos.

Gamblers become cash cow when they can't control their gambling spending, many gamblers who are addicted to gambling are the perfect cash cow especially when casino target them with more promotions. However, if people gamble responsibly and stick to a budget, calling them cash cows doesn't really fit cause we all spend money on things we want, whether it's shoes, gadgets or other lifestyle purchases. In the end, as long as we don't overspend it's fine tho. I also agree that the government should fine illegal casinos especially those operating without a license.

[EluguHcman]

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.

Yeah and that’s the normal cash flow of any businesses as long as people keeps paying for that service.

However, Regulations should be tightened in terms of protecting users against casino since we are the one generating profit for them not the casino. There’s a lot of cases which casino usually managed to dodge payment responsibilities by using ToS excuse against users.

As we may know, some lot of those casinos are not being fair enough to comply with the regulatory terms and until force the government steps up with their sanctions the casinos would not had been so abiding.

What most of them does is immediately they get caught by the authorities, they begin to reshape their ToS very unusual to the users just to have one fall into victim and withholf users funds that is why players who are depositing and playing to win large amounts are usually the victims after successful deposits or wins.

Of course that is a different game structure in the gambling industry unlike the stock market.

It’s still a cycle even though casino is now being regulated. Maybe we need much better license provider compared to the existing.

Or some strictly regulating commissions that should also position the casinos to be transparent but reverse is the case that the even the authorities are also insider focused on their on interest.

[Chinesebaby]

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?

And that's a more reason why sometimes it's always good to use a reliable casino. So as to avoid having your money get lost or been denied payment after you might have gambled and won. Because despite the fact that government will want it's share of the profits been made by casinos that operates within its jurisdiction, it's also always important that gamblers aren't been denied what's actually theirs when they are privileged to hit the jackpot. So as a gambler, asking questions and making your own personal research is important to staying successful in the gambling industry.

[Majestic-milf]

For your business to run smoothly, you need a license from the government. I don't see how the government is doing anything wrong to fine these casinos that are operating illegally in their jurisdiction. Gamblers are the cash cow because if they're no gamblers, there will be no casino and government wouldn't get money from casinos.

Yeah but it's like some rules are loose so that both parties can benefit from it, unfortunately it's the gambler that is the sacrificial lamb cause if there are no patrons, I'm sure this matter won't be an issue. If everyone approached gambling like it was for fun and all that, I doubt there'd be so much influx of casinos but because there are those who have gotten addicted to throwing away their hard earned money, that's why we see things like this happening.

[cryptoaddictchie]

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?

That means they letting them do as they please? Then when the anonymous casino started to make traction thats how they will enter the scene and imposed such rules and regulations? Can gambling casino operately outside their area? Im aware some setting up a company on places that arent strict with this rule but can open to different countries.

So they are still safe if this is the case? Or case to case basis.

[TheUltraElite]

The government will always try to get money from the gambling sites, a cut from their profits.

The casinos will always try to onboard new players to get a fresh deposit and make that person play more and more on the site.

There is no authority that will allow this lucrative business to go on without taking a cut because the casinos are always going to profit in the long term. The bettors are indeed the people from whom the fresh money comes. It is their choice to bet or not.

[eisen33]

For your business to run smoothly, you need a license from the government. I don't see how the government is doing anything wrong to fine these casinos that are operating illegally in their jurisdiction. Gamblers are the cash cow because if they're no gamblers, there will be no casino and government wouldn't get money from casinos.

Gamblers become cash cow when they can't control their gambling spending, many gamblers who are addicted to gambling are the perfect cash cow especially when casino target them with more promotions. However, if people gamble responsibly and stick to a budget, calling them cash cows doesn't really fit cause we all spend money on things we want, whether it's shoes, gadgets or other lifestyle purchases. In the end, as long as we don't overspend it's fine tho. I also agree that the government should fine illegal casinos especially those operating without a license.

What's wrong with casino promotions? In my opinion, they're a good way to earn more. I understand that casinos use bonuses to attract customers, and most bonuses are aimed at new or loyal players. However there are quite a few promotions that actually give you an opportunity to make more money because you receive a free bet.

[Accardo]

The same thing also applies to casinos and gamblers.  A casino has no right to enforce a policy that is not included in the published Terms of Service. Any casino that hides or changes its ToS without informing users is fraudulent. However, in most cases, gamblers fail to read and understand the ToS.

Devious or rogue casinos should, on the first observation, fled from, they're crooks looking to maximize profits through vulnerable and gullible players. Though its rare to find players who comfortably read the long walls of a casino's TOS, but hiding some of the rules from those who read it or from review writers who definitely read those rules word for word to break it down for readers on their website, is a wicked way to threat customers for profits.

[Rabata]

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.

There are some casinos that try their best to follow the rules given by the government but most casinos ignore those rules especially those which are part of their financial losses. Naturally, many casinos have some restrictions but when a gambler starts gambling in that casino they do not impose any kind of restriction. Even if they lose their deposits multiple times, no action is taken against them but if they win big then those casinos can file various complaints against them. Such behavior is definitely criminal. I think that all the casinos that do such behavior should have their licenses cancelled. If the casino allows deposits then it should also allow them to withdraw their rewards. But no one will raise this fair demand that only the gambler should be the victim of all the problems. The government and the casino platforms should not only focus on the profit but should give the gambler his best.

[sunsilk]

What's wrong with casino promotions? In my opinion, they're a good way to earn more. I understand that casinos use bonuses to attract customers, and most bonuses are aimed at new or loyal players. However there are quite a few promotions that actually give you an opportunity to make more money because you receive a free bet.

I agree, there's nothing wrong with the promotions for as long as they're honest and we know if we can be eligible with it or not.

Because we all like to receive some free bets and if we're eligible for that, why not are we going to take it?

I understand that there are a lot of discouraged gamblers with the promotions even I do. But let's know that there are promotions who are actually good and easy to fulfill requirements.

[Fivestar4everMVP]

Here in my country, there's a lot of smart play involved in the gambling industry, whether legal or illegal. On the side of the legal, there's the huge taxes. On the side of the illegal, there's protection money and a significant share of the revenue.

But it seems to me law enforcers and regulators are helpless when it comes to huge resort casinos that are owned by the richest elites. They can't just watch their day-to-day operation and wait for them to commit a single mistake before meting out big fines. No, the powerful elites here are untouchable.

It is the same almost in every country of the world except for the few countries that have managed to deal and win the war against corruption a bit..
It seems to me that laws and taxes are only for the poor and vulnerable in the country and society, the rich and the elite can choose to disobey, those in politics can even steal taxpayers money and law enforcement agencies can't do anything about except for the few that for one reason or the other lost their protection and immunity from whoever their godfather is it were.

So, in terms of running a casino or any other business, people In the above class can run a business like this not minding whether it's legal or illegal and regulators will be completely helpless, doest matter how the treat gamblers or bettors who use the site, so the casino users, it's best to avoid such casinos except it's a  non kyc casino where every other casinos are kyc, then this means you are ready to bear whatever comes.

[knuckey]

The most terrifying thing about gambling is that our psychology becomes their stake. It's actually okay to spend money as long as we know our limits. For example, if we gamble within our predetermined limits, that's enough; it won't drive us crazy or lose our minds. However, their attractive and tempting games often encourage us to gamble beyond our limits. This is their psychological game. It's clear that it benefits the bookies and their investors. Furthermore, KYC also complicates our playing. It may not have a direct impact on the authorities, but can we guarantee data security there?

[purple_sparkles]

The most terrifying thing about gambling is that our psychology becomes their stake. It's actually okay to spend money as long as we know our limits. For example, if we gamble within our predetermined limits, that's enough; it won't drive us crazy or lose our minds. However, their attractive and tempting games often encourage us to gamble beyond our limits. This is their psychological game. It's clear that it benefits the bookies and their investors. Furthermore, KYC also complicates our playing. It may not have a direct impact on the authorities, but can we guarantee data security there?

For me, KYC is an issue that genuinely worries me, because sharing our personal data can be dangerous when it comes to our finances. Sometimes I’m honestly surprised by how easily people are willing to send their information. Even government institutions cannot guarantee 100% protection, so many hackers manage to break into databases like that. And even if a casino has no intention of running fraudulent schemes, there’s still no guarantee that some third party won’t take advantage of that opportunity.

[Ronsbit]

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.

Yeah and that’s the normal cash flow of any businesses as long as people keeps paying for that service.

However, Regulations should be tightened in terms of protecting users against casino since we are the one generating profit for them not the casino. There’s a lot of cases which casino usually managed to dodge payment responsibilities by using ToS as excuse against users.

It’s still a cycle even though casino is now being regulated. Maybe we need much better license provider compared to the existing.

Yes regulator's really needs to step up their regulatory policies to also protect players because most of these casinos always takes advantage of players because they have an operational licence which favours them mostly compared to player's. This is why you see that most gamblers are always at the complaining side with some casinos not minding or looking at the compliants of players because they already have y backup to defend themselves and maybe in their ToS which the player might have skipped and not read to know what is obtainable on the casino.