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

[CryptoHeadlineNews]

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.

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

Its just unfortunate that the gamblers remains the end users who suffer more when both the government and casino tries to exercise their respective power who operates and who doesn't operate in a particular region. And in other to avoid this, that's why it's always very important gamblers make their own research to know genuine and legit casinos who are operating with the governments approval in your region and also have a clear terms and conditions regarding its operations. Because in most cases, what usually attract people to fall victim to such casinos who hide their terms and conditions is when a gambler rush over to register on a casino due to the lucrative bonuses it's promises to offer, forgetting the fact that transparency and your ability to withdraw after winning huge sum is also very important.

[Crakryptvest]

Its just unfortunate that the gamblers remains the end users who suffer more when both the government and casino tries to exercise their respective power who operates and who doesn't operate in a particular region. And in other to avoid this, that's why it's always very important gamblers make their own research to know genuine and legit casinos who are operating with the governments approval in your region and also have a clear terms and conditions regarding its operations. Because in most cases, what usually attract people to fall victim to such casinos who hide their terms and conditions is when a gambler rush over to register on a casino due to the lucrative bonuses it's promises to offer, forgetting the fact that transparency and your ability to withdraw after winning huge sum is also very important.

This has been the problem with gamblers and it has become a reoccurring decimal, many gamblers are just careless, they chase after something that's not even worth it sometimes, those casinos bonus sometimes are just trap set by the casino to get the attention of those gamblers whose interest is more on what to benefit from the casinos, it is not even as if their is no wagering requirements, they are also there, so why will a right thinking person fall for such, but people can be so funny, how will a real gambler ignore what is supposed to be the first thing he should be looking at once he get into a gambling platform, shady casinos sometimes succeed with their plans because of gamblers negligence of things that matter most before registering and gambling in a gambling site.

[Doan9269]

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.

We can't deny that people are also not taking advantage of some of this gambling casinos to go against their rules, if casinos that cannot be trusted exist, then they are not up to the numbers of gamblers that are taken abuse upon every gambling opportunity for their own exploits, we should just therefore, make use of a casino that we trusted and see with consistent reputation over the years so that they can be reliable in what they deliver to us.

[Gozie51]

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

As always there is smart play in different business life and that is why we need to be careful to follow the right thing and do the right thing. If you are playing in a casino that you are using VPN where it is not clearly stated not to use it, then you should know that if you win, it will be a challenge for you to withdraw your funds because the casino will introduce KYC and you may not possess the requirements. It is better for a gambler to have finished a level of verification and KYC before they start playing especially where you know that you can will more than losing.

Government wait on the casino to collect tax while the casino also wait for the gambler to default in their rules. To read TOS first is advisable before depositing.

[348Judah]

We are not gambling because we know that casinos are taking advantage of us to make money, as they also take some level of risk in operating a casino business, don't play should be taken as fun and we are doing this because we needed to get entertained by playing games at our own discretion, this is why no one will force you to gamble except you decided to do so, and you will also be the major determinant to how you stake your bet in such a way that will not affect you later.

[KiaKia]

You are looking forward to running a online casino? Do everything in your power to get regulated, have all the necessary documents and pass in hand then you will see how friendly the government can be.

Police for example will only extort you if you don't have all your papers, they have all the right to do with you how they please, fine you or lock you up if necessary, you can only avoid them if you have all necessary things.

Don't be in a position where you will be guilty, to run a casino you need license, accept it and make KYC compulsory, keep up with every dos and don't and everything will work out fine for you.

[EluguHcman]

Its just unfortunate that the gamblers remains the end users who suffer more when both the government and casino tries to exercise their respective power who operates and who doesn't operate in a particular region. And in other to avoid this, that's why it's always very important gamblers make their own research to know genuine and legit casinos who are operating with the governments approval in your region and also have a clear terms and conditions regarding its operations. Because in most cases, what usually attract people to fall victim to such casinos who hide their terms and conditions is when a gambler rush over to register on a casino due to the lucrative bonuses it's promises to offer, forgetting the fact that transparency and your ability to withdraw after winning huge sum is also very important.

This has been the problem with gamblers and it has become a reoccurring decimal, many gamblers are just careless, they chase after something that's not even worth it sometimes, those casinos bonus sometimes are just trap set by the casino to get the attention of those gamblers whose interest is more on what to benefit from the casinos, it is not even as if their is no wagering requirements, they are also there, so why will a right thinking person fall for such, but people can be so funny, how will a real gambler ignore what is supposed to be the first thing he should be looking at once he get into a gambling platform, shady casinos sometimes succeed with their plans because of gamblers negligence of things that matter most before registering and gambling in a gambling site.

For those who would jump into registering and playing in a casino platform without doing their proper research first, their ignorant will never be an excuse for the management or customer service when you try to make your complains after encountering experiences that was never made transparent in their websites.

I don't also understand why users will choose to use a platform just because of  its bonus offers like the platform has a better probability to provide bettors winnings than the others.

Some even takes the risk to force in using VPN and get caught during when making request of withdrawal.

[junder]

We can't deny that people are also not taking advantage of some of this gambling casinos to go against their rules, if casinos that cannot be trusted exist, then they are not up to the numbers of gamblers that are taken abuse upon every gambling opportunity for their own exploits, we should just therefore, make use of a casino that we trusted and see with consistent reputation over the years so that they can be reliable in what they deliver to us.

I'm sure we all have our own trusted casinos, whether they are local or not. In addition, everyone who likes to gamble in general online gambling most likely has a registered account that is more than one casino, this is a fact that happens, I myself have a neighborhood that likes to gamble and they have many registered accounts including myself.

[Wakate]

We can't deny that people are also not taking advantage of some of this gambling casinos to go against their rules, if casinos that cannot be trusted exist, then they are not up to the numbers of gamblers that are taken abuse upon every gambling opportunity for their own exploits, we should just therefore, make use of a casino that we trusted and see with consistent reputation over the years so that they can be reliable in what they deliver to us.

I'm sure we all have our own trusted casinos, whether they are local or not. In addition, everyone who likes to gamble in general online gambling most likely has a registered account that is more than one casino, this is a fact that happens, I myself have a neighborhood that likes to gamble and they have many registered accounts including myself.

There are so many trusted casinos online that are offering their services to gmablers but we should not forget that any of these trusted casinos can change their ways and turn to scam at any point in time. It is our responsibility to watch and observe the way the casinos we are using is behaving so that they don't turn to scam unexpectedly running with our funds.

[o48o]

You are looking forward to running a online casino? Do everything in your power to get regulated, have all the necessary documents and pass in hand then you will see how friendly the government can be.

Police for example will only extort you if you don't have all your papers, they have all the right to do with you how they please, fine you or lock you up if necessary, you can only avoid them if you have all necessary things.

Don't be in a position where you will be guilty, to run a casino you need license, accept it and make KYC compulsory, keep up with every dos and don't and everything will work out fine for you.

As i am living in one of the least corrupted nations, cops extorting feels strange. Which countries you are talking about?

I can't speak from experience, but reckon they could just extort you no matter what, because if they are corrupt they can just make up accusations.

And if you are not following regulations, cops couldn't help you if your paperwork isn't in order and if you keep allowing people to launder money. Because they couldn't magically make clean versions of your customers / accounting data and forward them to officials that actually required them.

[alani123]

The gambling industry is too big of a cash cow. It's surprisingly effective at milking people out of their income and therefore things are not going to change soon.

Nowdsys that business has stalled in terms of profiting more from the consumer, what little is left to milk out is not going to be in the form of competitive products but rather with easy money tricks like gambling. Countries that legalized gambling are never going back unless there's drastic changes in their political climate.

[Betwrong]

~ Furthermore, KYC also complicates our playing. It may not have a direct impact on the authorities, but can we guarantee data security there?

No, we can't. No one can guarantee anything except cheaters, but their guarantees are false. What we can do is we can choose where the chance of our data leaking is lower. We can choose to play on trusted sites that have millions of users and hundreds of positive reviews. We can also choose not to call bettors "Cash Cow," especially while receiving money from a gambling site.

[bubilas]

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?

The entire gambling industry is a multi-million dollar business, where money is literally made out of thin air by players hoping they'll be the lucky ones to withdraw significantly more money from the casino than they deposited. Therefore, it's often an industry where trickery and deception (by unscrupulous casinos) can lead to players not receiving their winnings. After all, bad casinos understand perfectly well that if a guy wants to walk away with money, it's best not to let him go, under various pretexts, from endless KYC confirmations to accusations of alternative accounts that never actually existed.

[viljy]

So this is all in the order of things. There are two ways to counteract these "disasters", or as OP put it, to follow the "smart game" (if I understand the idea correctly). The first way is not to win a lot. It's clear that winning is already difficult, but still. The larger the win, the higher the risks discussed in this topic. Sometimes it's even better to lose a portion of a large win immediately if you feel there might be issues with withdrawing a large amount of money...

If you are an ordinary player who wins small amounts, then the casino is unlikely to require KYC and will also overlook VPNs, because the casino will not scare off customers in order to save small amounts (especially with the current level of competition in the gambling industry).
The second method is betting on decentralized prediction markets. There are more and more such sites now. There, bettors withdraw their winnings freely.

[CryptoYar]

The multi layered exploitation here is authentic. Governments take licensing fees and fines, casinos take player losses and bettor is exposed to risk on all fronts at once. Trouble with T&C is that they are hidden. In fact, to be able to deposit and play as much as you want and then to bring up obscure policies when huge withdrawal is requested is not regulation, it is trap. Legitimate operators dont have to hide their rules.

Government point of view is also correct. Licensing jurisdictions have economic advantage in having gambling operators in their jurisdiction. That puts interests of consumer protection at conflict with revenue protection. Best advice for anyone wagering on this type of bet is to only gamble with fully licensed and highly reviewed operators that clearly indicate their terms and conditions, and never risk more than they are willing to lose outright. It is not just table, house has structural benefits on every level.

[donnajackson75]

Government point of view is also correct. Licensing jurisdictions have economic advantage in having gambling operators in their jurisdiction. That puts interests of consumer protection at conflict with revenue protection. Best advice for anyone wagering on this type of bet is to only gamble with fully licensed and highly reviewed operators that clearly indicate their terms and conditions...

i disagree with the “fully licensed” part. a license just protects the company’s legal side, not the player.
in practice, once you start consistently beating the lines and managing your bankroll properly, those same "trusted" fiat books will hit you with "risk management." they limit your stakes, restrict markets, and basically squeeze out anyone who actually wins.
that’s exactly why i moved most of my action to crypto sportsbooks. they are generally way less aggressive with capping winners. i usually just split my volume between sites like stake, sportbet.one, and dexsport so i can actually get a bet down without dealing with sudden long-term restrictions.
bottom line: “licensed” just means they are legally allowed to run their business. it doesn’t mean they play fair with profitable players.

[Agbe]

What is happening in the casino industry is like what is happening in the real society with tax payers. Government tax the industries but the consumers suffer the most. The sellers of the goods and services aggressively collect the tax paid to the government from the customers. Now casinos are using the harsh condition with the gamblers because of the government policies and extortion. I don't know of there second chance again for gamblers in the industry. There should be fair treatment for gamblers in all platform.

[EluguHcman]

Government point of view is also correct. Licensing jurisdictions have economic advantage in having gambling operators in their jurisdiction. That puts interests of consumer protection at conflict with revenue protection. Best advice for anyone wagering on this type of bet is to only gamble with fully licensed and highly reviewed operators that clearly indicate their terms and conditions...

i disagree with the “fully licensed” part. a license just protects the company’s legal side, not the player.
in practice, once you start consistently beating the lines and managing your bankroll properly, those same "trusted" fiat books will hit you with "risk management." they limit your stakes, restrict markets, and basically squeeze out anyone who actually wins.
that’s exactly why i moved most of my action to crypto sportsbooks. they are generally way less aggressive with capping winners. i usually just split my volume between sites like stake, sportbet.one, and dexsport so i can actually get a bet down without dealing with sudden long-term restrictions.
bottom line: “licensed” just means they are legally allowed to run their business. it doesn’t mean they play fair with profitable players.

CryptoYar opinion might imply on the emphasis which is supposedly to be that the governments should be an intermediary between the casino and the players and same time, issuing legal operation of the casinos through the licensing.

And of course, the government also have to sort means of revenues alongside the legalization of the casino which is even whst motivates them offering the license.
You and I also knows that the so authorities don't spend the realized funds on public budgets and same time cares less for the players which is why the casinos could even break their own protocols through hidden terms just to cheat or oppress players without the fear of government sanctions except for the players who has the money to go to the court in defending their rights.

[Russlenat]

What is happening in the casino industry is like what is happening in the real society with tax payers. Government tax the industries but the consumers suffer the most. The sellers of the goods and services aggressively collect the tax paid to the government from the customers. Now casinos are using the harsh condition with the gamblers because of the government policies and extortion. I don't know of there second chance again for gamblers in the industry. There should be fair treatment for gamblers in all platform.

But casinos are not basic necessities. We can choose not to gamble so we don’t have a problem with it.

For me, it is alright if they tax this high because gambling is just a want, just like cigarettes and liquor that can also have high taxes. But for basic needs, the government should make them affordable. And as gamblers, we don’t really think about the tax when we play in casinos. What we care about is just winning. Of course, we are aware that the house edge is high, so we are mostly playing based on pure luck.

That is also the reason why the casino business is really profitable. Regulators see that, so they increase the tax, and even if they do, casinos will not easily give up because they can operate 24/7 with a massive reach.

[imthegreat]

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?

It really does feel like a conspiracy where the players are the ones who get the blame. And I always dislike how the rules of gambling and betting are laid out like this: making a deposit is always very easy, it's not a problem at all. Online casinos and bookmakers accept all types of money, from card transactions to crypto.
But when a player wins, that's when the most interesting part of this business model begins: they're not allowed to withdraw their money. Firstly, the casino requires a huge number of supporting documents, and secondly, these checks take a long time. The casino probably thinks the gambler will give in.