A decentralized casino is possible but the user experience is probably going to be substantially worse on average than a centralized casino. Which is going to make running one exceedingly difficult since UX is far more important than decentralization to your average player. Worse also is going to be the currency options. If you run it on a shitcoin it's going to be dead on arrival. And even if you run it on Bitcoin it's going to be nearly dead on arrival. Most want to be able to play in fiat currency.
Having a centralized casino can probably run without government awareness if it remains small enough. At scale, that would be close to impossible, even if it were crypto only. I can't imagine a casino worth over $500m just persists in the long run without some kind of government intervention.
Topic: Can a casino ever run without the government's awareness? - page 5. (Read 416 times)
I think its possible to establish such decentralized gambling business/platform. But most countries would directly block your website because you don't follow their legal terms. So your website can easily become inaccessible like %90 of world countries. What would that mean? It means you will have very low amount of returns/profits. I think noone other than Elon Musk type of rich guy would try to establish such kind of business with nightmare profits. There is a reason most gambling websites get along with governments. They wanna stay profitable.
It's possible, but the question is how long it will stay.
Another one is that, it will depend on how small or huge a casino is. There are some small-scale casinos out there who are operating, but isn't sustainable. On the other hand, there are large casinos out there, and for sure, government will know it because over time, it will become more popular hence, government will notice it.
I don't know if it's just me being dumb or I really don't know, but who will create a decentralized casino right now? What if something goes wrong with the casino? Who will the user contact to? What if the user won a huge amount of money, but turns out it is a bug coming from the system? Who will they approach with that problem? What if there's a problem with the withdrawal process? Who they will call and share their problem?
Overall, it's possible to create a decentralized gaming platform, but it isn't sustainable. As for a casino running without government's awareness, still depends on how small or large the casino is.
Another one is that, it will depend on how small or huge a casino is. There are some small-scale casinos out there who are operating, but isn't sustainable. On the other hand, there are large casinos out there, and for sure, government will know it because over time, it will become more popular hence, government will notice it.
I don't know if it's just me being dumb or I really don't know, but who will create a decentralized casino right now? What if something goes wrong with the casino? Who will the user contact to? What if the user won a huge amount of money, but turns out it is a bug coming from the system? Who will they approach with that problem? What if there's a problem with the withdrawal process? Who they will call and share their problem?
Overall, it's possible to create a decentralized gaming platform, but it isn't sustainable. As for a casino running without government's awareness, still depends on how small or large the casino is.
Is it possible to run a decentralized gambling platform? I know that all popular gambling platforms have no choice but to be transparent to the law to have a steady business running, but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds, so that is what makes me think if it's possible to run a decentralized gambling platform at all.
In order to run casino, you need a lot of money, team of talented web developers, IT professionals, Project Managers, Marketers, Promoters, etc. You need to hire a very big office, you can't do it online via two guys. So, this business requires so much capital, mankind, office and many more, you can't just hide it from the government. They will ask you how do you have that much capital and they'll have an eye on where your money goes, your employees won't like an idea to work underground, especially when you hire people who should be educated in modern finances, technologies, marketing strategies.You can't just do it, it's not a bitcoin mixer, it's a very huge business and you have serious competitors who do things legally and won't forgive or let you to stay illegally in their competition.
Is it possible to run a decentralized gambling platform?
Very possible, as long as you're going to maintain being decentralized indeed and in all your dealings, we have casinos that were decentralized and don't require for KYC information, but the fear possible have with any is not to scam or took away their funds anytime, which means you have to create a means whereby gamblers will trust you.
I know that all popular gambling platforms have no choice but to be transparent to the law to have a steady business running, but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds, so that is what makes me think if it's possible to run a decentralized gambling platform at all.
Not all gambling platforms were registered under government, if they registered them they were no more decentralized because they will be subjected to government regulations, you also being a gambler under such casino is not decentralized because they can track you down through the KYC information you must have presented during the course of registration or later after, you can't also expect them to accept CBDC among the foinw their casino support because the gamblers want crypto and not CBDC.
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Is it possible to run a decentralized gambling platform? I know that all popular gambling platforms have no choice but to be transparent to the law to have a steady business running, but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds, so that is what makes me think if it's possible to run a decentralized gambling platform at all.
No e-gaming license is the key for a casino to run in a real decentralized manner. The problem is user doesn’t trust casino without a license and at the same time doesn’t want to submit KYC and create an infinite loop.
Decentralized gambling platform exist especially on the blockchain that use smart contract in every bet result. These casino doesn’t regulated by the government. It just this type of casino offers a limited games which is not appealing that result for being unpopular to the players. They are existing but no one just noticing it.
Yes, it's possible.
You know that the government will just intervene when the company is quite big already. They'll do all the means to track the owners down and make the business at risk by applying such laws that haven't been seen by the developers.
If the law states that they can't do it then that's questionable because they didn't enforce it when it was just launched. But it's because the company was too small to be considered and apply the law on them. That's mostly the status of many startups and even new casinos, it's like a test and dry run for them. If it's a success, they'll be recognized and too big not to be noticed.
You know that the government will just intervene when the company is quite big already. They'll do all the means to track the owners down and make the business at risk by applying such laws that haven't been seen by the developers.
If the law states that they can't do it then that's questionable because they didn't enforce it when it was just launched. But it's because the company was too small to be considered and apply the law on them. That's mostly the status of many startups and even new casinos, it's like a test and dry run for them. If it's a success, they'll be recognized and too big not to be noticed.
Is it possible to run a decentralized gambling platform? I know that all popular gambling platforms have no choice but to be transparent to the law to have a steady business running, but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds, so that is what makes me think if it's possible to run a decentralized gambling platform at all.
You should ask yourself one question. If you were an owner of a gambling business, would you want to create a decentralized gambling platform?
What would be the cost? Will it bring higher profits? I think that a decentralized gambling platform would be less profitable than a centralized online casino, that's why decentralized gambling isn't popular. The online casino owners simply don't want to bother with decentralization. They are pretty much OK with running centralized platforms.
Can a gambling business run unregulated? Or course it can, but it will have way less customers and sooner or later the authorities are doing to find out and penalize that business.
I don't know about the CBDC's future impact over the gambling industry. Let's wait and see what happens after CBDCs get implemented.
I think that the people who open the casinos are looking only for profit as the first thing most people that get a degree in Business Administration and Economics learn that the first objective of any private company is to maximize the profit.Since most people feel more comfortable when playing in a regulated casino that is the reason why we see more of such casinos than decentralized ones.I think the best example of a decentralized casino/sport betting site was directbet.eu as there you just placed a bet anonymously and just putted your wallet address to get the winnings in case you win your sports bet and that was all,no KYC no nothing and I doubt they were government aware which was the ultimate thing that led to its closure.
Is it possible to run a decentralized gambling platform? I know that all popular gambling platforms have no choice but to be transparent to the law to have a steady business running, but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds, so that is what makes me think if it's possible to run a decentralized gambling platform at all.
You should ask yourself one question. If you were an owner of a gambling business, would you want to create a decentralized gambling platform?
What would be the cost? Will it bring higher profits? I think that a decentralized gambling platform would be less profitable than a centralized online casino, that's why decentralized gambling isn't popular. The online casino owners simply don't want to bother with decentralization. They are pretty much OK with running centralized platforms.
Can a gambling business run unregulated? Or course it can, but it will have way less customers and sooner or later the authorities are doing to find out and penalize that business.
I don't know about the CBDC's future impact over the gambling industry. Let's wait and see what happens after CBDCs get implemented.
Is it possible to run a decentralized gambling platform?
It's definitely possible to create a decentralized gambling platform. The technology exists to make it happen, but the real question is whether it's feasible to do so in a way that's sustainable in the long term. I think the biggest challenge with a decentralized gambling platform is gaining the trust of users. People are naturally skeptical of online gambling, and with a decentralized platform, there's no central authority or regulators that users can turn to if something goes wrong. Trust is key when it comes to gambling, and it's hard to build trust in a decentralized platform.
Gambling sites have choice to accept a coin or not accept it, although CBDCs are not coins, they are fiat.
If and when a Central Bank Digital Currency (CBDC) is established and declared as legal tender in a specific jurisdiction, online casinos will be obligated to accept it as a form of payment due to regulations imposed by law and governing bodies.
When bitcoin was first created, there were decentralized gambling sites, but all we noticed has been that decentralized gambling sites are shrinking while centralized gambling sites are increasing and expanding.
This are crypto gambling sites, you can decide to deposit and withdraw in coins of your choice that a crypto gambling site supports.
but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds
Gambling sites have choice to accept a coin or not accept it, although CBDCs are not coins, they are fiat. This are crypto gambling sites, you can decide to deposit and withdraw in coins of your choice that a crypto gambling site supports.
Is it possible to run a decentralized gambling platform? I know that all popular gambling platforms have no choice but to be transparent to the law to have a steady business running, but with the introduction of CBDC and yes a registered gambling platform has no choice but to accept CBDC too, and I don't trust this centralized currency, I believe CBDC will have the capability to monitor incoming and outgoing funds, so that is what makes me think if it's possible to run a decentralized gambling platform at all.
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