Best Practices for Staying Safe When Gambling - page 26.

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Quote from: alinknila on September 22, 2023, 10:10:27 AM

Best practices

Enabling 2FA
Setting a loss limit

Setting up a 2FA should always be a good practice for our personal online accounts regardless of gambling account or not.

Although there are some cases of flaws and hacking incidents despite having an activated 2FA, it should always be considered as an extra layer of protection on our online accounts. In that way, even if someone already made it to the point of accessing our account, they can't just change or modify anything there because it requires a 2FA approved first.

Regarding setting a loss limit, I doubt it will work for most gamblers. Setting up a loss limit will just make them gamble more once it reaches the limit since the eagerness and temptation are always there to bounce and recover from losses. For me, just force ourselves to keep responsible and disciplined at all times.

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Quote from: Jemzx00 on September 22, 2023, 06:58:54 PM

Quote from: Oshosondy on September 22, 2023, 10:17:22 AM

I like 2FA, it adds another layer of protection. There are some gambling sites that do not require KYC, people should know that losing the 2FA backup can lead to loss of their gambling site account that they enable it. But it helps against hackers.

2FA is really a good extra layer of protection not only to any online gambling account but in general to all any other online account. However, there's way to bypass it if ever someone lost their 2FA device on most platform such as verifying through email or doing a KYC verification proving that you're the owner of the account. But yeah, it helps alot against hackers.

As for me, my best practices that I usually do when gambling apart from what's already mentioned is to set up a budget when gambling and a backup budget if ever things went south or extreme so if ever you need to bet more, you know how much you could lose. Setting up one certain budget isn't enough for me as we all know how things happen when gambling.

I have Always thought that when things are treated the way they can be done in order to have more Security is Also the Same with 2FA, but I Would Add even More security, for example every time I start Apart from 2FA so that I can Receive an SMS to my Phone so that it is more secure , and at the same time that Some security is also made for the email , those Security Layers are very Good, So if we have more difficult security so that they Can be hacked, this in Terms of security , but With respect to other rabbits Within the casino , the Main Thing can be Taken as having control over the Money , if there is good control of our money then we will not have Problems in the Game.

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Quote from: Oshosondy on September 22, 2023, 10:17:22 AM

I like 2FA, it adds another layer of protection. There are some gambling sites that do not require KYC, people should know that losing the 2FA backup can lead to loss of their gambling site account that they enable it. But it helps against hackers.

2FA is really a good extra layer of protection not only to any online gambling account but in general to all any other online account. However, there's way to bypass it if ever someone lost their 2FA device on most platform such as verifying through email or doing a KYC verification proving that you're the owner of the account. But yeah, it helps alot against hackers.

As for me, my best practices that I usually do when gambling apart from what's already mentioned is to set up a budget when gambling and a backup budget if ever things went south or extreme so if ever you need to bet more, you know how much you could lose. Setting up one certain budget isn't enough for me as we all know how things happen when gambling.

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Quote from: alinknila on September 22, 2023, 10:10:27 AM

This is the place to share the best ways to stay safe while gambling with crypto
Unique and practical ideas will be summed up in the list below. As a starter, I will list mine.

Best practices

Enabling 2FA
Setting a loss limit

Have fun and gamble safely

Simple reminder but really useful but to many miss to set this things up since they think they can control theirselves and don't need any of that. But if they apply those actions maybe they might not easily get compromised by hacking or getting any problems by losing huge capital from their stash.

Quote from: Lucius on September 22, 2023, 10:26:50 AM

I would add one more important thing, which is that you should not gamble with money for which you do not have a valid proof of origin - because I recently read a case where a user won almost $4 million with a deposit of $100k, and now the casino refuses to pay him win because he still hasn't been able to show them where the money he gambled with came from.

That's unfortunate for the winner and a rare case happen and guess all of us need to watch for this case because the same thing will happen if we cannot prove anything from casino since they can find this issue to deny our payments.

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Quote from: alinknila on September 22, 2023, 10:10:27 AM

This is the place to share the best ways to stay safe while gambling with crypto
Unique and practical ideas will be summed up in the list below. As a starter, I will list mine.

Best practices

Enabling 2FA
Setting a loss limit

Have fun and gamble safely

Have a budget and follow your budget. If you find excuses not to follow your rule to follow your budget and make one tiny mistake of gambling more. Then you know you have a problem. Not a tiny problem because you only crossed it for a little amount of money. But your problem would be on not respecting limits, even if they are your own. That either means that you don't respect yourself or that you have a gambling addiction.

That's the only rule i follow, next to account and money safety. But i don't think those would count as unique.

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Quote from: Lucius on September 22, 2023, 10:26:50 AM

I would add one more important thing, which is that you should not gamble with money for which you do not have a valid proof of origin - because I recently read a case where a user won almost $4 million with a deposit of $100k, and now the casino refuses to pay him win because he still hasn't been able to show them where the money he gambled with came from.

The casino should have verify it at the start and not only when the bettor is already at it's winning stage. Probably the casino has also its fault. But we can't force the casino to pay the winning amount especially if they found out that the bettor is a money launderer. He might be even banned instead.

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I would think that when gambling with cryptocurrencies, it would involve having an access to ones wallet. In the case where friends or relatives who don't have any other intentions rather than be nosey and probably cart away with the coins, secretly placing the bets before making it known to peers or friends or fam, will do more than just keep one safe when gambling with cryptocurrencies.

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2FA security and never connect your wallet that have your entire funds to online casino that are play in which requires you to connect your wallet their risk of gaining unauthorized access to your wallet is higher and you may lose your entire balance through such act.

More also since the popularity of cryptcucrency casino have increased and a lot of new casinos are coming up, it is important to only play on casinos that we know have the reputations and abilities to secure are funds on them and avoid running after bonuses since that is the fastest way to get scammed by shade casino because we have a lot of them around.

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Quote from: Stalker22 on September 22, 2023, 04:31:20 PM

In my opinion, the very first and most important piece of advice I can give is to be extremely selective when choosing a casino. It is the cornerstone of staying safe when gambling.

Check out the site's reputation and reviews, ask around, and see what other players think of it. A well-established, reputable casino is more likely to keep your funds safe than a fly-by-night operation.

I can totally agree with that, even if you secure your account with 2FA and you happen to play on a scam casino, your funds will not be safe.
So if you are already here in the forum, much better to play on known reputable sites and as much as possible with good technical support.
That I think is number 1 for me, because the chance of being screwed will be less if you play on highly credible sites to begin with.
And also, to limit your losses, then, why not deposit the amount of funds that you think you can afford to lose?

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Quote from: alinknila on September 22, 2023, 10:10:27 AM

This is the place to share the best ways to stay safe while gambling with crypto
Unique and practical ideas will be summed up in the list below. As a starter, I will list mine.

Best practices

Enabling 2FA
Setting a loss limit

Have fun and gamble safely

It’s always good to have that 2FA enable on any site that you have.
Also, do the budgeting for yourself since not all site have their own set loss limit feature.
Best practice as well is when you are already happy with your profit leave right away and don’t ever try to gamble more because you might lose it, enjoy your profit and always have fun in gambling.

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In my opinion, the very first and most important piece of advice I can give is to be extremely selective when choosing a casino. It is the cornerstone of staying safe when gambling.

Check out the site's reputation and reviews, ask around, and see what other players think of it. A well-established, reputable casino is more likely to keep your funds safe than a fly-by-night operation.

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2FA is not just for casino accounts, this has been used on different platforms including social media. It must be effective until a SIM swap happens to you. Setting a loss limit is a double-edged sword, you will lose and not getting back what is lost somehow sounds like a piece of advice coming from a casino operator.

You lose and then accept the fate that the money is gone and so you better stop for you may lose more. That is probably the logic here and it could also mean a gambling addiction prevention Grin

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Quote from: alinknila on September 22, 2023, 10:10:27 AM

This is the place to share the best ways to stay safe while gambling with crypto
Unique and practical ideas will be summed up in the list below. As a starter, I will list mine.

Best practices

Enabling 2FA
Setting a loss limit

Have fun and gamble safely

I can understand now what you mean by staying safe but all this means are very important but we still have to make sure that we don't become addicted to gambling if we want to stay safe. This could be for those that do gamble frequently and most time with big funds. Gambling is something we need to make sure that we try all our best not to take it too serious and focus on other things in our live. There is need for us to maintain a good wellbeing or we might have to make the wrong choice if we don't study well and put things in other.

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Quote from: coinerer on September 22, 2023, 10:29:03 AM

Quote from: alinknila on September 22, 2023, 10:10:27 AM

Best practices

Enabling 2FA
Setting a loss limit

2FA Can Protect A Gambler From Hacking His Account But How 2FA Can Save A Gambler From Deep Gambling Addiction? The most effective strategy to be safe in gambling is to gamble within a limit and always keep yourself in control without panicking. 2FA will still come in handy when a gambler wins high-amount bets and his casino account is at risk for hackers. Because if the fact of winning a large amount is known, his account may be attacked by hackers

There's a fine line in regarding on what things could help out on avoiding for your account to get hacked and on how to make yourself avoid on getting addicted. This is why it would really be that better that there should really be some sort of specification in regarding about being staying safe. It could really be pertain on how making yourself being safety for you not to be ending up with addiction or you are really simply
trying out to avoid on losing money because of hacked account. So i would say that this listing wont really be that precise or not to be that in organized unless if there would be some changes which it would
be that separated then it would really be just that fine.

Safest thing of all? Then you should really be not doing gambling. You would be saving up yourself with those hacking incident plus you would be saving yourself from being addicted on which it is a double win
or right thing to be done but if you are really that going for fun and dont mind about saving or spending up then it would really be your choice. There are really just those
people who do really dont mind about spending as long they could really be able to enjoy.

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Quote from: alinknila on September 22, 2023, 10:10:27 AM

This is the place to share the best ways to stay safe while gambling with crypto
Unique and practical ideas will be summed up in the list below. As a starter, I will list mine.

Best practices

Enabling 2FA
Setting a loss limit

Have fun and gamble safely

Sure this will help keep your account safe but its not the main thing i worrie about when visiting these sites. Fom my own side i would make a somewhat overlooked observation: Before you start gambling, make sure you understand the value you are going to bet or deposit in your local currency terms before you do it. It is SO EASY to overlook the actual amount in FIAT and get a feeling like its play money you are using.

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For me, it is three things and these are

Play money that you can afford to lose and
Take time to read the TOS of the casino and always be aware of the changes
Play in a casino that has proven its reputation

If you follow these three things you are safe, your gambling experience will be enjoyable and you will not log out depressed and feel sorry.

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Good tips! 2FA is easily the best way to secure your assets in any crypto gambling site which is why it's a great suggestion op. Problem here is that most gamblers don't enable 2FA thanks to their laziness.

They lose their funds and whine about the site's security instead of rightfully blaming themselves.

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Quote from: Fivestar4everMVP on September 22, 2023, 12:10:32 PM

Quote from: Gozie51 on September 22, 2023, 11:56:05 AM

Quote from: Lucius on September 22, 2023, 10:26:50 AM

I would add one more important thing, which is that you should not gamble with money for which you do not have a valid proof of origin - because I recently read a case where a user won almost $4 million with a deposit of $100k, and now the casino refuses to pay him win because he still hasn't been able to show them where the money he gambled with came from.

This is a funny to me. The casino allowed such huge bet and after the winning they realized the source of the money should be investigated? This is unfortunate and that means the casino is trying to be funny. They are asking to know the net worth of the player or what...

So I would play in a reputable casino where I know they would do all the background check they need to do and would release my winning incase I get lucky to win.

Source of income is like the document that is request for when a gambler wants to pass a level 4 kyc verification on Stake.com, so yeah, proving source of funds to casinos is nothing new, the only problem there is that, even before the casino allows a player deposit such a huge amount of money, the casinos should have asked the gambler or user to pass all level verification which includes proofing the source through which all the fund the gambler will be using to gamble in the casino comes from.

What they are doing right now is trying to cheat the player, but such a matter can't be handled carelessly, the user should stand his ground, and if he has the capability, he should seek legal help, this is if the casinos hasn't paid him already.

My most important practice to staying safe in gambling is to gamble responsibly, and this is, adhering to every responsible gambling tips out there.

If this is on the TOS then there is nothing to do except to comply, I know it may seem unfair but I agree with @Lucius here, gamblers should only engage on online gambling with funds they can clearly demonstrate where they came from, because even if the money you deposited comes from legal sources, if you were to get a big win you will have to pass a very intensive verification process and any failure on your part to comply will lead to the loss of that money.

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Quote from: Gozie51 on September 22, 2023, 11:56:05 AM

Quote from: Lucius on September 22, 2023, 10:26:50 AM

I would add one more important thing, which is that you should not gamble with money for which you do not have a valid proof of origin - because I recently read a case where a user won almost $4 million with a deposit of $100k, and now the casino refuses to pay him win because he still hasn't been able to show them where the money he gambled with came from.

This is a funny to me. The casino allowed such huge bet and after the winning they realized the source of the money should be investigated? This is unfortunate and that means the casino is trying to be funny. They are asking to know the net worth of the player or what...

So I would play in a reputable casino where I know they would do all the background check they need to do and would release my winning incase I get lucky to win.

Source of income is like the document that is request for when a gambler wants to pass a level 4 kyc verification on Stake.com, so yeah, proving source of funds to casinos is nothing new, the only problem there is that, even before the casino allows a player deposit such a huge amount of money, the casinos should have asked the gambler or user to pass all level verification which includes proofing the source through which all the fund the gambler will be using to gamble in the casino comes from.

What they are doing right now is trying to cheat the player, but such a matter can't be handled carelessly, the user should stand his ground, and if he has the capability, he should seek legal help, this is if the casinos hasn't paid him already.

My most important practice to staying safe in gambling is to gamble responsibly, and this is, adhering to every responsible gambling tips out there.

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Quote from: Lucius on September 22, 2023, 10:26:50 AM

I would add one more important thing, which is that you should not gamble with money for which you do not have a valid proof of origin - because I recently read a case where a user won almost $4 million with a deposit of $100k, and now the casino refuses to pay him win because he still hasn't been able to show them where the money he gambled with came from.

This is a funny to me. The casino allowed such huge bet and after the winning they realized the source of the money should be investigated? This is unfortunate and that means the casino is trying to be funny. They are asking to know the net worth of the player or what...

So I would play in a reputable casino where I know they would do all the background check they need to do and would release my winning incase I get lucky to win.

Topic: Best Practices for Staying Safe When Gambling - page 26. (Read 3586 times)