A way to attract new users or a misunderstanding? - page 2.

slapper

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Quote from: LUCKMCFLY on May 10, 2023, 11:31:39 PM

Quote from: AmoreJaz on April 28, 2023, 04:37:13 PM

Quote from: khaled0111 on April 28, 2023, 04:34:06 PM

Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

this is why most licensed gambling sites are requiring kyc from their customers especially if they are exceeding their limits. to maintain their license from the jurisdiction of operations, they will surely apply the kyc procedure. because with their license, and when it comes to audit and they saw big numbers without kyc, for sure their license will be put into question.

Basically let's be clear, the kyc are a Requirement of governments and third Parties to know who are the ones who Play and how much they play, how much money they have available to play, spend and win, in order to have them on a list where in the future it can be used to apply Certain taxes that have not been paid during the Duration of what that person has played,that's the Way I see it, a leak of those Documents and that's it, with that they have so that they have the necessary Information for them to do or extort Someone.

KYC, that sweet-sour dance between legit gambling sites and players! Sure, it's a mandate from the powers that be, but what if there's a secret plot? On the surface, it's about following rules, keeping licenses. But what if they're collecting dossiers on our habits, ready to spring tax traps? A financial watchlist – exciting! And don't forget data leak risks. One misstep, and boom! Our precious info in the hands of bad guys. It's like offering a jackpot of personal data to mischief-makers. What a game!

LUCKMCFLY

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Quote from: AmoreJaz on April 28, 2023, 04:37:13 PM

Quote from: khaled0111 on April 28, 2023, 04:34:06 PM

Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

this is why most licensed gambling sites are requiring kyc from their customers especially if they are exceeding their limits. to maintain their license from the jurisdiction of operations, they will surely apply the kyc procedure. because with their license, and when it comes to audit and they saw big numbers without kyc, for sure their license will be put into question.

Basically let's be clear, the kyc are a Requirement of governments and third Parties to know who are the ones who Play and how much they play, how much money they have available to play, spend and win, in order to have them on a list where in the future it can be used to apply Certain taxes that have not been paid during the Duration of what that person has played,that's the Way I see it, a leak of those Documents and that's it, with that they have so that they have the necessary Information for them to do or extort Someone.

Supreemo

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Quote from: danadc on May 05, 2023, 11:31:42 AM

Quote from: borovichok on May 04, 2023, 11:56:14 PM

Quote from: tusandii on May 04, 2023, 09:57:46 PM

Yes, I also remember at that time when the Covid-19 pandemic was still very much in an uproar that swept across the world to the point where it actually caused economic and financial inflation where many people lost their jobs and sources of livelihood.
There are many people who have started to twist their minds by looking for income online and they choose to enter the gambling industry with the aim of making more money with small capital.
But unfortunately not all of them are successful because in reality gambling is not for work and gambling is not a place that can easily be made a place of breadwinners.
And since the pandemic until now, more people are starting to enter the gambling industry.

COVID-19 was a difficult moment; many people lost their jobs as a result of the government's massive lockdown; many individuals were rendered jobless, particularly those living in the most afflicted countries. Some turned to online casino and football gambling, betting extra money every day in the hopes of feeding themselves or their families. I've been in that situation before; I know how it feels to be unemployed and to struggle every day just to feed. People are still going through hard circumstances over there, so we shouldn't blame anyone who has become addicted to gambling, all in the name to feed, surviving is winning, if a tight gambler wants to survived, he or she needs to keep constant winning, that's how the whole gambling system works.

It became very difficult for me when the pandemic arrived, I am in a country that is not mine and I had a job that required me to be almost every day, I only had 1 day off, and what I could do was sleep, rest a lot, because sometimes the need to pay for everything is something that has to be immediate, paying rent, buying food is something that will always be for me, so the alternatives were to look for jobs online, do something to support yourself and the other The easiest option was to play in a casino, that was the immediate way out but the most risky, I was tempted to do it but I didn't, I don't know what would have happened to my life depending on my money at that time.

during that pandemic surge in my country, i have a lot of neighbors playing online casino not only for fun but also to earn money since most of them lose their jobs or even if they still have work, the problem is the work system in our country became skeletal, which means there are times you can work and then the next week you'll have to rest the whole week. that was their way to accomodate lots of personnel who still wanted to work and support their families. i was also tempted to play casino but I decided to scour the internet at that time to find more opportunities although i can clearly see that the opportunities are very low and the competition increases tremendously.

LUCKMCFLY

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Quote from: Pamadar on April 28, 2023, 08:18:47 AM

Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

Quote from: bangjoe on April 17, 2023, 11:44:44 AM

Quote from: Eternad on April 17, 2023, 09:59:31 AM

Quote from: Alisha-k on April 17, 2023, 03:05:02 AM

Asking for KYC verification for a Casino crypto project is not necessary, even most of the traditional bet bookies for sports betting do not

Anything that has a relationship with “gambling” shouldn’t attach KYC verification to its platform because it places a limitation of which some persons may not be able to reach, so yes, asking for KYC Verification I think is a misinterpretation of what web3 and “gambling” represents in general.

This is a complete misinformation about the purpose of KYC on gambling. Crypto is now being regulated same as fiat due to potential exploit on casino for coin mixing to commit money laundering. KYC is the main requirements for Anti Money Laundering policy given by the license provider to the casino that availing their license for legal purposes. We are now on an era that government is already regulating the use of crypto compared before when crypto is still on the grey area.

Mass adoption incorporates a regulations since many people is already involved. There is no decentralized thing on a business that has a license to operate. Only Bitcoin is the decentralised in crypto and the rest is just a pure bluff.

Yes, it is a form of anticipation of money laundering that can be done in gambling, I really understand how centralized business mechanisms cannot be decentralized even though they enter the web3 still for the operation of gambling work mechanisms in a country will be asked for a license according to the rules of gambling which is legally valid, except that the government in certain countries does not require gambling business operators to be asked for customer data to verify things that can be manipulated such as money laundering in gambling and they can claim that they are indeed decentralized, but still if they having a parent is tantamount to being centralized.
Today, nothing is decentralized except bitcoin, any business and any project that has a license from the relevant government and has an operational parent means they have a stage somewhere to run their company, meaning they are centralized.
after all their bookies will always be offering something hype to entice their customers they have to have to lie.

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

Fiat and crypto serve the same thing,

so it's understandable that both are being an instrument for money laundering.
I see the point where crypto gambling is being dragged when we talk about money laundering.

Though just like what you have said, there are safety precaution and rules that the site is using to protect
their business.

Knowing that they are subject to this kind of issues, they needed to comply with the government rules and needed
to make sure that they are open to anything that will clear their business.

It may be, I do not deny that they can use it for money laundering, but it is like something silly on the part of those who are going to do it, I would call them newbies, because they obviously know very well that casinos, when they see strange behavior or actions, usually suspend the account , and since they have to go through a kyc process, it is not pleasant at all, because they expose their data or those who have been paid so that they can do such a thing, there are methods to launder money that are much more effective than putting it in the casino, in In this case, it is best to put things in a safer place (which the draftsman knows very well) and not expose his money, of course it is my personal perception, governments launder money, but they do not use casinos or exchanges.

348Judah

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Quote from: khaled0111 on April 28, 2023, 04:34:06 PM

Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

Let be honest here a casino can not act the function of government agencies in the control of scam related to money laundering when the AML agencies themselves couldn't control the overall challenges with scam related loots from exchanges, to an extent some of the KYC casinos also serve a little function of an exchange since you can deposit your money with them, exchange it for another currency as long as their site policy support it.

danadc

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Quote from: borovichok on May 04, 2023, 11:56:14 PM

Quote from: tusandii on May 04, 2023, 09:57:46 PM

Yes, I also remember at that time when the Covid-19 pandemic was still very much in an uproar that swept across the world to the point where it actually caused economic and financial inflation where many people lost their jobs and sources of livelihood.
There are many people who have started to twist their minds by looking for income online and they choose to enter the gambling industry with the aim of making more money with small capital.
But unfortunately not all of them are successful because in reality gambling is not for work and gambling is not a place that can easily be made a place of breadwinners.
And since the pandemic until now, more people are starting to enter the gambling industry.

COVID-19 was a difficult moment; many people lost their jobs as a result of the government's massive lockdown; many individuals were rendered jobless, particularly those living in the most afflicted countries. Some turned to online casino and football gambling, betting extra money every day in the hopes of feeding themselves or their families. I've been in that situation before; I know how it feels to be unemployed and to struggle every day just to feed. People are still going through hard circumstances over there, so we shouldn't blame anyone who has become addicted to gambling, all in the name to feed, surviving is winning, if a tight gambler wants to survived, he or she needs to keep constant winning, that's how the whole gambling system works.

It became very difficult for me when the pandemic arrived, I am in a country that is not mine and I had a job that required me to be almost every day, I only had 1 day off, and what I could do was sleep, rest a lot, because sometimes the need to pay for everything is something that has to be immediate, paying rent, buying food is something that will always be for me, so the alternatives were to look for jobs online, do something to support yourself and the other The easiest option was to play in a casino, that was the immediate way out but the most risky, I was tempted to do it but I didn't, I don't know what would have happened to my life depending on my money at that time.

Bayan_D40

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Quote from: Outhue on December 09, 2022, 03:51:18 AM

Is web 3 a misunderstanding word for some gambling crypto projects? I've come across few gambling / crypto projects that claimed to be a web 3.0 online casino and other but they still ask for KYC.

The definition of web 3.0 had everything to do with decentralization, block chain technology and token based economics as per what Wikipedia illustrated so why is identity/ verification integrated?

Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.

In relation to KYC, they do not inherently oppose the tenets of Web 3.0. Despite the goal of Web 3.0 to establish a more decentralized and transparent framework, it does not imply that every aspect of the system will be entirely anonymous or exempt from authentication. In reality, numerous Web 3.0 initiatives mandate a certain degree of identity verification to abide by legal and regulatory standards, including AML and KYC regulations.

borovichok

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Quote from: tusandii on May 04, 2023, 09:57:46 PM

Yes, I also remember at that time when the Covid-19 pandemic was still very much in an uproar that swept across the world to the point where it actually caused economic and financial inflation where many people lost their jobs and sources of livelihood.
There are many people who have started to twist their minds by looking for income online and they choose to enter the gambling industry with the aim of making more money with small capital.
But unfortunately not all of them are successful because in reality gambling is not for work and gambling is not a place that can easily be made a place of breadwinners.
And since the pandemic until now, more people are starting to enter the gambling industry.

COVID-19 was a difficult moment; many people lost their jobs as a result of the government's massive lockdown; many individuals were rendered jobless, particularly those living in the most afflicted countries. Some turned to online casino and football gambling, betting extra money every day in the hopes of feeding themselves or their families. I've been in that situation before; I know how it feels to be unemployed and to struggle every day just to feed. People are still going through hard circumstances over there, so we shouldn't blame anyone who has become addicted to gambling, all in the name to feed, surviving is winning, if a tight gambler wants to survived, he or she needs to keep constant winning, that's how the whole gambling system works.

tusandii

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Quote from: LUCKMCFLY on May 04, 2023, 08:18:22 PM

You are right, in 2020-2021 things got very hard all over the world, the jobs, the people who did not have any,many were fired and of course everything Pointed a lot towards online jobs, in that order of ideas is how a great increase in more players in the casinos, how bad it is that they went to the casinos to try to multiply their money, some succeeded,but I think that the majority lost and that was the descandent for the casinos to have such a large number of customers world level,the new users were produced in the casinos,thanks to them some casinos still have many clients.

Yes, I also remember at that time when the Covid-19 pandemic was still very much in an uproar that swept across the world to the point where it actually caused economic and financial inflation where many people lost their jobs and sources of livelihood.
There are many people who have started to twist their minds by looking for income online and they choose to enter the gambling industry with the aim of making more money with small capital.
But unfortunately not all of them are successful because in reality gambling is not for work and gambling is not a place that can easily be made a place of breadwinners.
And since the pandemic until now, more people are starting to enter the gambling industry.

xSkylarx

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Quote from: LUCKMCFLY on May 04, 2023, 08:18:22 PM

Quote from: Webetcoins on April 22, 2023, 01:08:40 PM

Quote from: South Park on April 19, 2023, 04:59:50 PM

Quote from: TheGreatPython on April 18, 2023, 04:36:23 AM

You should say that asking for KYC verification for a decentralized casino project is not necessary, when it comes to centralized platforms, they have licenses and would definitely require KYC to comply with regulations and AML laws imposed to prevent the businesses from anti-money laundering and other such illegal activities.

When we talk about traditional casinos or sportsbooks, the reason why they didn't require KYC is that there was no such concept back then, KYC was introduced just recently after the rate of illegal activities and cheating was on the rise.

I think people understand that casinos due to their license and the increase on the number of users they serviced thanks to the pandemic are going through a period in which governments are giving them more attention than ever, and as such they need to ask for their gamblers to identify themselves more often and to be more strict on their requirements, but a casino that is supposedly decentralized should never ask for that information, and the moment they do so then we as gamblers lose any incentive we may have had to play there.

Obviously, online casinos were never so popular, but it was only after Covid-19 hit the world and there was pandemic and everyone was in self-quarantine, all public places including casinos were closed down and that is when the rise of online gambling started, people started to find ways to do their usual activities, gambling being one of them, so they stumbled upon online casinos.

When people started paying attention to online casinos, crypto-gambling platforms started to become famous, and ultimately, they have become a new trend now, and that is the reason why authorities are always behind them.

You are right, in 2020-2021 things got very hard all over the world, the jobs, the people who did not have any,many were fired and of course everything Pointed a lot towards online jobs, in that order of ideas is how a great increase in more players in the casinos, how bad it is that they went to the casinos to try to multiply their money, some succeeded,but I think that the majority lost and that was the descandent for the casinos to have such a large number of customers world level,the new users were produced in the casinos,thanks to them some casinos still have many clients.

That is also the year that most of people ive known are doing gambling online on their own homes because of boredom and also trying their luck because they are really desperate of money because they dont have work that time. That is really the boom of casino which ive seen there are a lot of online casinos coming out everyday and most of the post in social media are about gambling. Right there are still a lot of gambling casino that is promoted by influencers

LUCKMCFLY

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Quote from: Webetcoins on April 22, 2023, 01:08:40 PM

Quote from: South Park on April 19, 2023, 04:59:50 PM

Quote from: TheGreatPython on April 18, 2023, 04:36:23 AM

You should say that asking for KYC verification for a decentralized casino project is not necessary, when it comes to centralized platforms, they have licenses and would definitely require KYC to comply with regulations and AML laws imposed to prevent the businesses from anti-money laundering and other such illegal activities.

When we talk about traditional casinos or sportsbooks, the reason why they didn't require KYC is that there was no such concept back then, KYC was introduced just recently after the rate of illegal activities and cheating was on the rise.

I think people understand that casinos due to their license and the increase on the number of users they serviced thanks to the pandemic are going through a period in which governments are giving them more attention than ever, and as such they need to ask for their gamblers to identify themselves more often and to be more strict on their requirements, but a casino that is supposedly decentralized should never ask for that information, and the moment they do so then we as gamblers lose any incentive we may have had to play there.

Obviously, online casinos were never so popular, but it was only after Covid-19 hit the world and there was pandemic and everyone was in self-quarantine, all public places including casinos were closed down and that is when the rise of online gambling started, people started to find ways to do their usual activities, gambling being one of them, so they stumbled upon online casinos.

When people started paying attention to online casinos, crypto-gambling platforms started to become famous, and ultimately, they have become a new trend now, and that is the reason why authorities are always behind them.

You are right, in 2020-2021 things got very hard all over the world, the jobs, the people who did not have any,many were fired and of course everything Pointed a lot towards online jobs, in that order of ideas is how a great increase in more players in the casinos, how bad it is that they went to the casinos to try to multiply their money, some succeeded,but I think that the majority lost and that was the descandent for the casinos to have such a large number of customers world level,the new users were produced in the casinos,thanks to them some casinos still have many clients.

Wakate

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Quote from: khaled0111 on April 28, 2023, 04:34:06 PM

Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

Is like we have forgotten that many casinos are established for the sake of making more profits that is why it will be very rare to see casino that would establish this kind of law on there customers. This will make many gamblers to leave the casino for other better ones if they find out that the rules are too severe for them to accept or continue using.

If can't create a business and make it so strick that even the little customers that you have will not want to use your platform again because of what they have experienced so far from subscribing to your product. If the aim of establishing a business is not meant then that would be a waste of time and resources.

AmoreJaz

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Quote from: khaled0111 on April 28, 2023, 04:34:06 PM

Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

this is why most licensed gambling sites are requiring kyc from their customers especially if they are exceeding their limits. to maintain their license from the jurisdiction of operations, they will surely apply the kyc procedure. because with their license, and when it comes to audit and they saw big numbers without kyc, for sure their license will be put into question.

khaled0111

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Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

maydna

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Quote from: South Park on April 19, 2023, 04:59:50 PM

Quote from: TheGreatPython on April 18, 2023, 04:36:23 AM

You should say that asking for KYC verification for a decentralized casino project is not necessary, when it comes to centralized platforms, they have licenses and would definitely require KYC to comply with regulations and AML laws imposed to prevent the businesses from anti-money laundering and other such illegal activities.

When we talk about traditional casinos or sportsbooks, the reason why they didn't require KYC is that there was no such concept back then, KYC was introduced just recently after the rate of illegal activities and cheating was on the rise.

I think people understand that casinos due to their license and the increase on the number of users they serviced thanks to the pandemic are going through a period in which governments are giving them more attention than ever, and as such they need to ask for their gamblers to identify themselves more often and to be more strict on their requirements, but a casino that is supposedly decentralized should never ask for that information, and the moment they do so then we as gamblers lose any incentive we may have had to play there.

Besides that, with the increase in illegal activities involving casinos and fraud committed by casinos, the government felt the need to ask them for KYC and pressure their members to do it. Casinos also don't want to get involved in problems that can disrupt their business, so casinos also apply KYC to their members. And although decentralized casinos don't require their members to do KYC, one day, they will ask it of their members due to government oversight. This makes us vigilant because the casino can apply it at any time.

Pamadar

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Quote from: LUCKMCFLY on April 28, 2023, 08:02:41 AM

Quote from: bangjoe on April 17, 2023, 11:44:44 AM

Quote from: Eternad on April 17, 2023, 09:59:31 AM

Quote from: Alisha-k on April 17, 2023, 03:05:02 AM

Asking for KYC verification for a Casino crypto project is not necessary, even most of the traditional bet bookies for sports betting do not

Anything that has a relationship with “gambling” shouldn’t attach KYC verification to its platform because it places a limitation of which some persons may not be able to reach, so yes, asking for KYC Verification I think is a misinterpretation of what web3 and “gambling” represents in general.

This is a complete misinformation about the purpose of KYC on gambling. Crypto is now being regulated same as fiat due to potential exploit on casino for coin mixing to commit money laundering. KYC is the main requirements for Anti Money Laundering policy given by the license provider to the casino that availing their license for legal purposes. We are now on an era that government is already regulating the use of crypto compared before when crypto is still on the grey area.

Mass adoption incorporates a regulations since many people is already involved. There is no decentralized thing on a business that has a license to operate. Only Bitcoin is the decentralised in crypto and the rest is just a pure bluff.

Yes, it is a form of anticipation of money laundering that can be done in gambling, I really understand how centralized business mechanisms cannot be decentralized even though they enter the web3 still for the operation of gambling work mechanisms in a country will be asked for a license according to the rules of gambling which is legally valid, except that the government in certain countries does not require gambling business operators to be asked for customer data to verify things that can be manipulated such as money laundering in gambling and they can claim that they are indeed decentralized, but still if they having a parent is tantamount to being centralized.
Today, nothing is decentralized except bitcoin, any business and any project that has a license from the relevant government and has an operational parent means they have a stage somewhere to run their company, meaning they are centralized.
after all their bookies will always be offering something hype to entice their customers they have to have to lie.

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

Fiat and crypto serve the same thing,

so it's understandable that both are being an instrument for money laundering.
I see the point where crypto gambling is being dragged when we talk about money laundering.

Though just like what you have said, there are safety precaution and rules that the site is using to protect
their business.

Knowing that they are subject to this kind of issues, they needed to comply with the government rules and needed
to make sure that they are open to anything that will clear their business.

LUCKMCFLY

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Quote from: bangjoe on April 17, 2023, 11:44:44 AM

Quote from: Eternad on April 17, 2023, 09:59:31 AM

Quote from: Alisha-k on April 17, 2023, 03:05:02 AM

Asking for KYC verification for a Casino crypto project is not necessary, even most of the traditional bet bookies for sports betting do not

Anything that has a relationship with “gambling” shouldn’t attach KYC verification to its platform because it places a limitation of which some persons may not be able to reach, so yes, asking for KYC Verification I think is a misinterpretation of what web3 and “gambling” represents in general.

This is a complete misinformation about the purpose of KYC on gambling. Crypto is now being regulated same as fiat due to potential exploit on casino for coin mixing to commit money laundering. KYC is the main requirements for Anti Money Laundering policy given by the license provider to the casino that availing their license for legal purposes. We are now on an era that government is already regulating the use of crypto compared before when crypto is still on the grey area.

Mass adoption incorporates a regulations since many people is already involved. There is no decentralized thing on a business that has a license to operate. Only Bitcoin is the decentralised in crypto and the rest is just a pure bluff.

Yes, it is a form of anticipation of money laundering that can be done in gambling, I really understand how centralized business mechanisms cannot be decentralized even though they enter the web3 still for the operation of gambling work mechanisms in a country will be asked for a license according to the rules of gambling which is legally valid, except that the government in certain countries does not require gambling business operators to be asked for customer data to verify things that can be manipulated such as money laundering in gambling and they can claim that they are indeed decentralized, but still if they having a parent is tantamount to being centralized.
Today, nothing is decentralized except bitcoin, any business and any project that has a license from the relevant government and has an operational parent means they have a stage somewhere to run their company, meaning they are centralized.
after all their bookies will always be offering something hype to entice their customers they have to have to lie.

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

Webetcoins

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Quote from: South Park on April 19, 2023, 04:59:50 PM

Quote from: TheGreatPython on April 18, 2023, 04:36:23 AM

You should say that asking for KYC verification for a decentralized casino project is not necessary, when it comes to centralized platforms, they have licenses and would definitely require KYC to comply with regulations and AML laws imposed to prevent the businesses from anti-money laundering and other such illegal activities.

When we talk about traditional casinos or sportsbooks, the reason why they didn't require KYC is that there was no such concept back then, KYC was introduced just recently after the rate of illegal activities and cheating was on the rise.

I think people understand that casinos due to their license and the increase on the number of users they serviced thanks to the pandemic are going through a period in which governments are giving them more attention than ever, and as such they need to ask for their gamblers to identify themselves more often and to be more strict on their requirements, but a casino that is supposedly decentralized should never ask for that information, and the moment they do so then we as gamblers lose any incentive we may have had to play there.

Obviously, online casinos were never so popular, but it was only after Covid-19 hit the world and there was pandemic and everyone was in self-quarantine, all public places including casinos were closed down and that is when the rise of online gambling started, people started to find ways to do their usual activities, gambling being one of them, so they stumbled upon online casinos.

When people started paying attention to online casinos, crypto-gambling platforms started to become famous, and ultimately, they have become a new trend now, and that is the reason why authorities are always behind them.

LUCKMCFLY

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Well, in every casino they always want to be the most Influential and stand out, not only because of their bonuses, their promotions, which Always reach the players in some way, but what matters is that a casino has enough reach with the main activities of the world For example, a casino that has an influence on sports, that when they play soccer, or are in a UFC fight, the name of the casinos can be seen, for example casinos that are of this Style are: stake.com, bitcasino.io , sportsbet, duelbits, among others, this is the influential guy to look for in the casinos.

South Park

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I am terrible at Fantasy Football!!!

Quote from: TheGreatPython on April 18, 2023, 04:36:23 AM

You should say that asking for KYC verification for a decentralized casino project is not necessary, when it comes to centralized platforms, they have licenses and would definitely require KYC to comply with regulations and AML laws imposed to prevent the businesses from anti-money laundering and other such illegal activities.

When we talk about traditional casinos or sportsbooks, the reason why they didn't require KYC is that there was no such concept back then, KYC was introduced just recently after the rate of illegal activities and cheating was on the rise.

I think people understand that casinos due to their license and the increase on the number of users they serviced thanks to the pandemic are going through a period in which governments are giving them more attention than ever, and as such they need to ask for their gamblers to identify themselves more often and to be more strict on their requirements, but a casino that is supposedly decentralized should never ask for that information, and the moment they do so then we as gamblers lose any incentive we may have had to play there.

Topic: A way to attract new users or a misunderstanding? - page 2. (Read 10225 times)