And that is why the government wants to know the people who like to play gambling by implementing various regulations and policies. Whether it will have a negative or positive impact, gamblers will return to casinos and still play gambling because it has become their habit for a long time. But those who feel that the current government regulations are too strict will look for ways to find less strict casinos that can gamble again. And now, with the help of crypto, these gamblers can continue to play by hiding their identities even though several casinos have asked them to do KYC.
No, using crypto wouldn't help you to hide your identities, even a zero KYC casino is still record your IP address, your Bitcoin address and device you're using. It just make people that doesn't have any idea with crypto can't search your identity, while the casino and exchange are know your identity because there's a blockchain analysis. But crypto casino is better in terms of safety, you wouldn't get robbed or killed by criminal unlike traditional casino.
Topic: Cashless Gambling, your thought? (Read 1008 times)
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
I don't think land based or casinos will have too much problem in this case, because now most of the licensed legal casinos have the option to use bank credit card or debit card or have the option of mobile banking. In this case they can easily move into the banking system by choosing these options, I don't think there is any problem with the cashless system.And I think it will also beneficial for cryptocurrency based casinos if there cryptocurrency allowed. Overall I think we should welcome this cashless system Because it will help us to keep one step ahead in the age of technology
I think this type of rule has already been implemented in many gambling-friendly countries. It's not just to make the transactions quick and easy but also for their government to have all of those records accessible for their data and safekeeping.
There are pros and cons to this type of ruling for a local government and those that don't like it don't want to handle it too easily to the government that they've got a gambling record. Still, plenty of options for them, thanks to crypto gambling as there are still casinos that don't ask for kyc immediately.
In my place i think funding your gambling with your bank accounts and card is widely allowed throughout the country, although when its comes to withdrawal of funds and some other things kyc is always needed and me myself i have been using this as a means funding my gambling account online. So i dont think cashless gambling its a bad idea at all, after all these gambling sites are making huge profits from citizens gambling in their platforms so i don't see any wrong intentions for the government wanting to tax them and keep track and records of some vital data. There are pros and cons to this type of ruling for a local government and those that don't like it don't want to handle it too easily to the government that they've got a gambling record. Still, plenty of options for them, thanks to crypto gambling as there are still casinos that don't ask for kyc immediately.
This makes it very easy for one to gamble anywhere, anytime because you can just easily pick up your and fund your bet with your bank account even if it's 2.am in morning but its has some kinda of disadvantages because i have lost alot of money because of the easy access i have to gambling in my account on virtuals games.
And that is why the government wants to know the people who like to play gambling by implementing various regulations and policies. Whether it will have a negative or positive impact, gamblers will return to casinos and still play gambling because it has become their habit for a long time. But those who feel that the current government regulations are too strict will look for ways to find less strict casinos that can gamble again. And now, with the help of crypto, these gamblers can continue to play by hiding their identities even though several casinos have asked them to do KYC.
No, using crypto wouldn't help you to hide your identities, even a zero KYC casino is still record your IP address, your Bitcoin address and device you're using. It just make people that doesn't have any idea with crypto can't search your identity, while the casino and exchange are know your identity because there's a blockchain analysis. But crypto casino is better in terms of safety, you wouldn't get robbed or killed by criminal unlike traditional casino.Your IP can be gidden with the use of VPN and the IP is by no means your identity. Many people access the Internet in public places and the only way to get to them is by running 24/7 surveillance of the place and hoping he comes back and opens the same site, like they did with Ross.
Even if you access the site with no VPN and from your home the agency that wants to find you would have to write to the court to order your provider to give them your name and it still isn't going to be YOUR name but the name of a person who pays the Internet bill. If you live in a dorm it's going to be someone who manages the place. If you share an apartment with a few people it's going to be one of them.
Have you ever thought of a government implementing a Cashless gambling? Making hard cash obsolete for gambling purposes?
I don't think this is possible except if they can design a new currency and assign it to be only applicable for gambling purposes, then it may run on a cashless purpose, i understand the abuses made in gambling with the curreny notes but this is something common that even the petty trader dirty and abuses the money as this is not only done in gambling, the casinos houses make use of this kind of abuses while the online casinos have zero tolerance for this kind of abuse on money, everything is being made through online transactions and no cash is involved.
And that is why the government wants to know the people who like to play gambling by implementing various regulations and policies. Whether it will have a negative or positive impact, gamblers will return to casinos and still play gambling because it has become their habit for a long time. But those who feel that the current government regulations are too strict will look for ways to find less strict casinos that can gamble again. And now, with the help of crypto, these gamblers can continue to play by hiding their identities even though several casinos have asked them to do KYC.
No, using crypto wouldn't help you to hide your identities, even a zero KYC casino is still record your IP address, your Bitcoin address and device you're using. It just make people that doesn't have any idea with crypto can't search your identity, while the casino and exchange are know your identity because there's a blockchain analysis. But crypto casino is better in terms of safety, you wouldn't get robbed or killed by criminal unlike traditional casino. - The government can't think of any other alternative way to generate money so even gamblers will reduce taxes for this matter. Doesn't it seem like the greediness of those who think this way is becoming obvious?
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Taking such a decision there will have some positives along with some negatives. The government has realized that the gambling is now become the most potential Industry. It is closed and open in any case of corona pandemic or any other natural disaster. Here they have a huge revenue opportunity and such plans are the most effective to collect the revenue smoothly.Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
However, this kind of regulation will have some negative impact on the gambling industry as well. Because many of today's gamblers are not willing to make their KYC. Most gamblers can feel worried when instructed to make a mandatory deposit through a bank. As a result, the gambling industry will be hampered to some extent.
- The government can't think of any other alternative way to generate money so even gamblers will reduce taxes for this matter. Doesn't it seem like the greediness of those who think this way is becoming obvious?
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Taking such a decision there will have some positives along with some negatives. The government has realized that the gambling is now become the most potential Industry. It is closed and open in any case of corona pandemic or any other natural disaster. Here they have a huge revenue opportunity and such plans are the most effective to collect the revenue smoothly.Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
However, this kind of regulation will have some negative impact on the gambling industry as well. Because many of today's gamblers are not willing to make their KYC. Most gamblers can feel worried when instructed to make a mandatory deposit through a bank. As a result, the gambling industry will be hampered to some extent.
It will be better we look at this matter from both perspective of views because just as OP has also stated that there are also crypto casinos and this doesn't call for panic since crypto is there and government has no right over crypto.
This development I think might cripple the fiat gambling industry but would have any direct impact on the crypto casino because this coins are decentralized.
On the other hand I think government looking into gambling might in one way or the other reduce the addiction related issues with gambling as there might be certain rules as per how much one is expected to gamble with fir a certain period of time.
Not totally that government cant really have that control over crypto, yes technically but when it comes to platforms or business which connects out to crypto then they are really that bound on such This development I think might cripple the fiat gambling industry but would have any direct impact on the crypto casino because this coins are decentralized.
On the other hand I think government looking into gambling might in one way or the other reduce the addiction related issues with gambling as there might be certain rules as per how much one is expected to gamble with fir a certain period of time.
regulation which it isnt really that surprising.
I agree that government can't really have control over crypto, what the government can control is only on the surface, the centralized company that process crypto transactions, but the government will never control the cryptocurrency network. This is one reason why government skipped decentralized crypto as option on cashless gambling.
Government would really be trying out their best on taxing everything and there would be no one would really be escaping it out.We are seeing that gradually platforms are asking
for some kyc or verifications and it gets tighter and tighter as years passing by.
for some kyc or verifications and it gets tighter and tighter as years passing by.
If cashless gambling is implemented, there is no need for KYC because your bank account can speak for itself. If you use your cards or bank account, your financial information which includes your personal data will be collected by the casino.
It will be better we look at this matter from both perspective of views because just as OP has also stated that there are also crypto casinos and this doesn't call for panic since crypto is there and government has no right over crypto.
This development I think might cripple the fiat gambling industry but would have any direct impact on the crypto casino because this coins are decentralized.
On the other hand I think government looking into gambling might in one way or the other reduce the addiction related issues with gambling as there might be certain rules as per how much one is expected to gamble with fir a certain period of time.
Not totally that government cant really have that control over crypto, yes technically but when it comes to platforms or business which connects out to crypto then they are really that bound on such This development I think might cripple the fiat gambling industry but would have any direct impact on the crypto casino because this coins are decentralized.
On the other hand I think government looking into gambling might in one way or the other reduce the addiction related issues with gambling as there might be certain rules as per how much one is expected to gamble with fir a certain period of time.
regulation which it isnt really that surprising.
Government would really be trying out their best on taxing everything and there would be no one would really be escaping it out.We are seeing that gradually platforms are asking
for some kyc or verifications and it gets tighter and tighter as years passing by.
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Cashless gambling is already implemented in both online casino and land based. For a longtime now, we have had some gamblers playing right from their bank account for the land based casinos at least the past 5 years have witnessed this. For the land based casinos in Nigeria, you can open your account through the game house and fund it by yourself and you can bet on line where deductions would be made from your account and also when you have winnings, it is credited into your account.
The cashless casino was already here, online, they used tokens served as cash, in the offline casinos they used chips as funds to bet, so I think it is already cashless. Additionally, cryptocurrencies becomes rampant nowadays and I think that also belongs to the cashless casino. There are too many gambling casinos that adopted a cashless basis because it will bring convenience for them and their clients. So the cashless casino is very important through the bank or whatever it is for quick transactions or even withdrawals.
- The government can't think of any other alternative way to generate money so even gamblers will reduce taxes for this matter. Doesn't it seem like the greediness of those who think this way is becoming obvious?
Gamblers will produce taxes, I think winnings in gambling is taxable, for example, those who won in lotteries, they didn't get their winnings in full, they get them after the tax deductions.
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Cashless payment doesn't only mean transction is done through online transfers, cashless gambling is already implemented in local casinos. It is called cashless gambling when you use your credit card, or debit card to purchase game credit in casinos. It is that this time, the government wanted to implement debit and credit card use only when playing in local casinos, and cash won't be needed or accepted if you happen to wanted to use one.
It will be better we look at this matter from both perspective of views because just as OP has also stated that there are also crypto casinos and this doesn't call for panic since crypto is there and government has no right over crypto.
This development I think might cripple the fiat gambling industry but would have any direct impact on the crypto casino because this coins are decentralized.
On the other hand I think government looking into gambling might in one way or the other reduce the addiction related issues with gambling as there might be certain rules as per how much one is expected to gamble with fir a certain period of time.
This development I think might cripple the fiat gambling industry but would have any direct impact on the crypto casino because this coins are decentralized.
On the other hand I think government looking into gambling might in one way or the other reduce the addiction related issues with gambling as there might be certain rules as per how much one is expected to gamble with fir a certain period of time.
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- The government can't think of any other alternative way to generate money so even gamblers will reduce taxes for this matter. Doesn't it seem like the greediness of those who think this way is becoming obvious?
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
We will not know about that, but one thing is clear, maybe gamblers can use digital services from other funding sources besides banking to deposit their money into a physical casino and then get chips to be used to play gambling. But those who play gambling using crypto already feel that way because we already have the convenience of using crypto directly to play gambling. But what is clear is how the government can find out about the activities of its citizens who play gambling using their bank accounts and how the government can get taxes for this problem. Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Cashless gambling is already implemented in both online casino and land based. For a longtime now, we have had some gamblers playing right from their bank account for the land based casinos at least the past 5 years have witnessed this. For the land based casinos in Nigeria, you can open your account through the game house and fund it by yourself and you can bet on line where deductions would be made from your account and also when you have winnings, it is credited into your account.
I think this type of rule has already been implemented in many gambling-friendly countries. It's not just to make the transactions quick and easy but also for their government to have all of those records accessible for their data and safekeeping.
There are pros and cons to this type of ruling for a local government and those that don't like it don't want to handle it too easily to the government that they've got a gambling record. Still, plenty of options for them, thanks to crypto gambling as there are still casinos that don't ask for kyc immediately.
In my place i think funding your gambling with your bank accounts and card is widely allowed throughout the country, although when its comes to withdrawal of funds and some other things kyc is always needed and me myself i have been using this as a means funding my gambling account online. So i dont think cashless gambling its a bad idea at all, after all these gambling sites are making huge profits from citizens gambling in their platforms so i don't see any wrong intentions for the government wanting to tax them and keep track and records of some vital data. There are pros and cons to this type of ruling for a local government and those that don't like it don't want to handle it too easily to the government that they've got a gambling record. Still, plenty of options for them, thanks to crypto gambling as there are still casinos that don't ask for kyc immediately.
This makes it very easy for one to gamble anywhere, anytime because you can just easily pick up your and fund your bet with your bank account even if it's 2.am in morning but its has some kinda of disadvantages because i have lost alot of money because of the easy access i have to gambling in my account on virtuals games.
The way I see it the government just want to keep track on it at the same time they would earn from this tax.
I would agree to you that we are already been into cashless gambling with the help of crypto currency this is why I really love it,
We could keep our anonymity of course not on all the gambling website there are still sites that doesn't really required a KYC.
For me this is why crypto currency has been created to give us anonymity and freedom.
If all what they want want is tax then I think they can still do that even on the normal way of betting. Take example to those who win on a local lottery. Their winnings are cut off by a huge percent due to tax. Tracking them is also more easier this way because you are seen physically and then you will also be asked to input your names, and other details upon you claim your prize.I would agree to you that we are already been into cashless gambling with the help of crypto currency this is why I really love it,
We could keep our anonymity of course not on all the gambling website there are still sites that doesn't really required a KYC.
For me this is why crypto currency has been created to give us anonymity and freedom.
Before cryptos came in, there are already cashless gambling but many of us do only started when we get familiarize with crypto and we only play on crypto gambling sites because we think they are more trusted and more easier to use. Other than it can make you anonymous, our winnings will also be tax free.
- The government can't think of any other alternative way to generate money so even gamblers will reduce taxes for this matter. Doesn't it seem like the greediness of those who think this way is becoming obvious?
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
Besides that, cashless payments are only beneficial in online gambling, what about physical gambling or land-based casinos? Is it still cashless that they want to implement here?
~snip~
Casinos are probably the very best places to try a "cashless system", with government interest starting to grow in digital payments, and CBDC. What I want to know is, under such a system, would it be possible for the casino to attach identity with a transaction and have an ability to cancel transactions? It's probably for the benefit of some gamblers to control their irresponsible spending, but giving up the ability to spend your money wherever you want it is a basic human right. It should be respected.
Casinos are probably the very best places to try a "cashless system", with government interest starting to grow in digital payments, and CBDC. What I want to know is, under such a system, would it be possible for the casino to attach identity with a transaction and have an ability to cancel transactions? It's probably for the benefit of some gamblers to control their irresponsible spending, but giving up the ability to spend your money wherever you want it is a basic human right. It should be respected.
The main problem is that if you can identify the people that bring X amount of money in, then you can't really bring dirty money in.
This is something being discussed in Australia at the moment:
Billions in ‘dirty’ money going into NSW pokies should be addressed by cashless gaming card, crime commission says
Not sure what's going to happen there but since it's such a huge amount of money, I guess those cashless cards will never appear.
In a positive note, minors gambling incident would greatly reduced because the gambling transaction can now be traced via bank statement, except if these minors can freely use their parent's cards.
Just because of this positive note, I'll be open to the idea of the government implementing it. This won't only help reduced underage gambling but can also be used to tackle gambling addition. Banks can help monitor the money been used for gambling and when it begins to look like an addiction is ongoing they can prevent that user from making use of his credit cards to place bet.
Government shouldn't only let the bank mediate with the fund flow, they should also give a program for drug addiction rehabilitation. If these addictive gambler's fund is suddenly cut, they might chose a bad option such as stealing or embezzling funds just to suffice their gambling addiction. Money control without any process of rehabilitation is oftentimes devastating to the receiving end.
People might think that they're mature enough to handle themselves financially but that's not true. Also this will help in preventing money laundering as I believe casino are those that encourage this more and with paper money that are untraceable, they can get away with laundering money but if a cashless policy was to be introduced, it'll be hard.
I agree, especially when a person is addicted to gambling, all his financial knowledge will be nothing because he succumb to the uncontrollable urge to gamble. that is why the government should pair this kind of program with gambling addiction rehabilitation program.
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