Cashless Gambling, your thought? - page 4.

serjent05

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Quote from: Lida93 on December 31, 2022, 04:09:33 PM

I have just two rhetorical questions to the government:
First,
Of what better use would a cashless gambling system do to someone that's already making use of cryptocurrency gambling platforms? It's like leaving a five star hotel to a common brothel!

I can answer this one for you, the government wanted profit. With cryptocurrency being used by players, the government is deprived of taxes of any form because the transaction is not exposed to government tax.

Quote from: Lida93 on December 31, 2022, 04:09:33 PM

Secondly:
Did the government put to consideration those gamblers that are not enlightened have absolute no idea about cashless transaction how it operates, and how this cashless gambling policy can deny these sets of gamblers opportunity to continuously engage in an activity they interest themselves with without going through some hitch and inconveniences?

Government has a tendency to implement now and explain later. Besides people are already using their credit and debit cards to buy stuff online and in supermarkets where the use of cards is available. So cashless gambling isn't a new technology, to begin with.

Docnaster

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Quote from: Lida93 on December 31, 2022, 04:09:33 PM

I have just two rhetorical questions to the government:
First,
Of what better use would a cashless gambling system do to someone that's already making use of cryptocurrency gambling platforms? It's like leaving a five star hotel to a common brothel!

There is no central government of the world. It depends on different governments of the world.
Some governments don't want any kind of gambling activities and so they ban gambling totally.
While some are looking for ways to effectively tax gamblers.
That is the same thing happening with bitcoin and the governments

crzy

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Quote from: abel1337 on December 31, 2022, 03:09:25 PM

Certainly bad for the gamblers from Armenia since they will be forced to use their cards just to gamble. Crypto casino is one way to avoid that restriction but there might be a chance that Armenia will be included in casino banned list, where gamblers can't play on casinos that has the licensed that are banning their country. If this came up to be a good source of revenue for the country and other country realize that it is an effective way to set up a new source of revenue, There's a high chance that other country will do the same and for sure the gamblers and the operators are the one who will suffer the most.

If Armenia succeed on this, we can expect other countries to do the same thing because many are already aiming to try a cashless gambling and maybe some will try to encourage gamblers to user their own digital currency, maybe in the future it will be more like this. Crypto seems to be fine since its a cashless gambling, the problem here is that if those countries will start to regulate crypto casinos, they might also force gamblers to use their own digital currency instead of crypto.

Anonymous100

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Quote from: OgNasty on December 31, 2022, 02:41:39 PM

It makes sense that countries would like to make sure they get tax from gambling winnings. I wonder if it will be as good as a source of revenue as they think. I've never really won or lost big enough to matter, but I assume that gambling losses are tax deductible in at least some regions, maybe that's not right... In any event, if that were the case I would think a solution like this would be a double edged sword. Sure, you'll get taxes from the winners (which if it was a big win they would have gotten it anyway), but you'll also then see a ton more tax deductions from losers, who would for sure outweigh the winners. Again, no idea if that's even a thing, but surely there are more losers than winners, and who deducts gambling losses from their taxes? Not me.

It is really illogical for a country to apply the rule of taking taxes on gambling winners. If the state takes a tax on those who gamble, automatically those who gamble can also lend state money to gamble through legal credit lines. If the state cannot provide a budget for gamblers, this rule will automatically be refuted. The state can only collect taxes on those who provide gambling services, both online sites and gambling places such as casinos.

Lida93

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I have just two rhetorical questions to the government:
First,
Of what better use would a cashless gambling system do to someone that's already making use of cryptocurrency gambling platforms? It's like leaving a five star hotel to a common brothel!

Secondly:
Did the government put to consideration those gamblers that are not enlightened have absolute no idea about cashless transaction how it operates, and how this cashless gambling policy can deny these sets of gamblers opportunity to continuously engage in an activity they interest themselves with without going through some hitch and inconveniences?

Certain policy decisions put down by the government would wanna make a common man wonder if the government is really existing for the interest of the whole citizens or just for a stratified few.

abel1337

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Certainly bad for the gamblers from Armenia since they will be forced to use their cards just to gamble. Crypto casino is one way to avoid that restriction but there might be a chance that Armenia will be included in casino banned list, where gamblers can't play on casinos that has the licensed that are banning their country. If this came up to be a good source of revenue for the country and other country realize that it is an effective way to set up a new source of revenue, There's a high chance that other country will do the same and for sure the gamblers and the operators are the one who will suffer the most.

OgNasty

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It makes sense that countries would like to make sure they get tax from gambling winnings. I wonder if it will be as good as a source of revenue as they think. I've never really won or lost big enough to matter, but I assume that gambling losses are tax deductible in at least some regions, maybe that's not right... In any event, if that were the case I would think a solution like this would be a double edged sword. Sure, you'll get taxes from the winners (which if it was a big win they would have gotten it anyway), but you'll also then see a ton more tax deductions from losers, who would for sure outweigh the winners. Again, no idea if that's even a thing, but surely there are more losers than winners, and who deducts gambling losses from their taxes? Not me.

virasisog

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Quote from: livingfree on December 31, 2022, 12:05:43 PM

Quote from: piebeyb on December 31, 2022, 08:55:08 AM

I only see in land casinos cash gambling looks ancient and online gambling has become a trend nowadays

Well, still both are on trend.

No matter what happens to the new trend, cash will still be there and won't be removed. The land/physical casinos have to consider the demand of their customers, if they want to accept and withdraw through cash, they have to keep that method.

The best thing is to have all types of payment methods. Just like the crypto casinos these days, they've got the most options for deposits and withdrawals, fiats, and cryptos.

I'm sure that they will always consider accepting fiat because if not, they will lose a huge number of gamblers, especially those who prefer the traditional payment method and those who aren't well-educated about how cashless transactions work.
We all know that a cashless society will be a part of continuous innovation in the future but businesses including casinos will not eliminate fiat despite digital adoption.

qwertyup23

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Quote from: Yaunfitda on December 28, 2022, 10:17:10 PM

I think it's more of a burden to us, specially if gamblers are going to be tax. And as far as I know, government have been giving traditional based casino lenient taxes, because that's one way to attract them to put up a billion dollar business in one's country and then have a pay cut.

So if they are going for cashless gambling to put another tax for us, then I wouldn't be agreeing on that proposal. It will be too much for us.

The argument for KYC and the whole tracking is already there, when you play on a traditional based casinos, to enjoy the perks you have to register your name and other info and same now with the online casinos. So there's no surprises with that already, the real eye opener is the tax.

KYC was already implemented in order to effectively administer taxing purposes for the government's revenue. I have no idea on why Armenia has to implement a cashless gambling method as it will only further burden the people. To be honest, it is going to be more counter-productive in the way that gamblers would be dissuade to gamble. Instead of being a main source of revenue, such taxing purpose would destroy completely this industry.

At the end of the day, I hope the bill that implements this feature be amended to consider the side of the gamblers and to at least make it more reasonable and realistic.

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Quote from: piebeyb on December 31, 2022, 08:55:08 AM

I only see in land casinos cash gambling looks ancient and online gambling has become a trend nowadays

Well, still both are on trend.

No matter what happens to the new trend, cash will still be there and won't be removed. The land/physical casinos have to consider the demand of their customers, if they want to accept and withdraw through cash, they have to keep that method.

The best thing is to have all types of payment methods. Just like the crypto casinos these days, they've got most options for deposits and withdrawals, fiats and cryptos.

darkangel11

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Cashless anything is bad if you ask me. We all know fiat money isn't going away. It can either go on with cash or in the digital form, but the digital fiat will take away all your freedom and all your anonymity. There's not a single thing that can benefit a normal person if the government goes into cashless fiat money. All the benefits of this move go to the government and you, the taxpayer, is getting chewed on by the machine. So, you may ask how this is going to affect you, the government says cashless means less crime.
Cashless means they can make you stop doing what you're doing without having to deal with you through the police or the court.
They don't like you gambling, they block your transfers to casinos. They don't want you buying firearms, they don't allow any payments to registered firearms dealers. They want to know what prescription drugs you take, they go through your payments and they know what they can take from you to make you obey. You go to protest against them, you get your account charged with a ticket for being out in public and protesting. You keep doing it, they block your cards and you can't even buy a cup of coffee or a plane ticket to go to a conference that they don't want you to go.

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Quote from: Maestro75 on December 29, 2022, 04:00:30 AM

I do not support the idea of a cashless gambling if it will have to go through the banks because KYC will be demanded. Gambling is supposed to be a discretely done event because of the way the society perceives gambling. There are some societies that have stigma for gamblers. If the government wants a cashless pattern in the gambling industry, it should find a way to know the generated revenue from the casinos and task them appropriately. I will never accept to do a KYC on a gambling site because I know it will link to my bank account.

Stigmatization is one of my main concerns about this cashless gambling policy. In my area, gamblers are seen as unserious and wasteful individuals which is why people gamble mostly in secret. Being a gambler can deprive one of getting jobs or political positions because of how gambling is perceived. This policy would mainly favor the government's quest to get more revenue from tax and it would also reduce gambling addiction among underaged gamblers. Underaged gambles are more prone to gambling addiction and this policy might reduce the rate of underaged gambling in that country. Crypto gambling firms that don't mandate KYC requirements might be the best alternative for gamblers that want to hide their identity.

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Quote from: Godday on December 31, 2022, 07:48:03 AM

If this method is carried out many gamblers will feel pressured even though the government can benefit, then in some countries they really cannot do this because many gamblers have private status and they don't want to be known by other people, and they have certain reasons for this. If the Armenian government implements this law, I'm sure they will have other, more effective goals for those who do gambling, especially the problem of money laundering, of course, a lot of assets will be lost if this is implemented by the government, because all countries have a gambling master who does have such a large asset.

People will look for an alternate way through which they can gamble free without any pressure. The governments want money from the gamblers as well as the gambling platform. To make it out, governments keeps adding more laws as well as more other ways. However it doesn't give effective output as people too are well aware of technology through which they create loopholes to enjoy as the past.

piebeyb

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this is just a new breakthrough to take the market that is currently being widely used, namely the internet and of course the casinos don't want to continue holding it at land-based casinos only but online as well to get the interest of the new community as gamblers, because not everyone wants to be seen too conspicuously playing gambling on Land casinos, I only see in land casinos cash gambling looks ancient and online gambling has become a trend nowadays

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Quote from: BitDane on December 28, 2022, 09:51:54 PM

So what do you think about this cashless gambling, is this another breakthrough of the gambling industry or just a way of the government to track their citizen and earn from the gambling establishment.

As far as I know banks are not ok with your income that came from gambling, in my country that could be a red flag so if that country is planning to amend that and make gambling more legal, then it might work. Many casinos are already cashless, you just need to get your membership card where you can cash-in and cash-out and use that card for your whole gambling activities. If the government really wash to enter the cashless era, probably we are going there slowly but sure and it looks inevitable and they are started trying it.

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Quote from: Cling18 on December 31, 2022, 04:34:36 AM

It will surely affect most gamblers negatively, tracking their gambling activities and taxing them would be easier for the government. It will have both positive and negative effects. It can reduce fraud activities and minors who are into gambling but will hit gamblers who want to make their activities private. We all know that the government is now doing everything to track and tax gamblers in ways that they can do and sadly, it's something that we can't get rid of in the future.

Yeah. But the concept of cashless gambling may apply to traditional physical casinos, it is not relevant to discussions on this forum, which focuses on online casinos that accept cryptocurrencies. Therefore, the implementation of cashless gambling is unlikely to have any significant impact on crypto gamblers on this forum.

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Quote from: nakamura12 on December 31, 2022, 07:33:03 AM

No matter what we say government always find a way to make gamblers pay tax. It is faster than havinf cash to gamble compared to cashless gambling since you only need to deposit using bank and withdrawal is the same. They also want to track people who are gambling. I don't have to explain more of it because what I see is that government want to gain benefits from gamblers. It could be bad for casinos I think since gamblers also pay tax which will make people stop gambling. All money that gamblers are willing to risk won't be lose in gambling alone but also in tax. If that happen in my country then I would stop gambling.

First, it's the duty of the government to oversight everything in their domain and continues to help in building a sain community. I don't know why so many people on BTT are scared of this or so particular about it as 'off' in the name of privacy. Mind you, too much privacy would cause more harm than good to society.

That said, you are also overbearing about this tax of a thing. Which government would tax you because you want to gamble? A reasonable government can only tax you for your winnings, and this varies in countries as some countries' citizens pay a very low winning tax. While the government earns the rest from the gambling company.

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If this method is carried out many gamblers will feel pressured even though the government can benefit, then in some countries they really cannot do this because many gamblers have private status and they don't want to be known by other people, and they have certain reasons for this. If the Armenian government implements this law, I'm sure they will have other, more effective goals for those who do gambling, especially the problem of money laundering, of course, a lot of assets will be lost if this is implemented by the government, because all countries have a gambling master who does have such a large asset.

nakamura12

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No matter what we say government always find a way to make gamblers pay tax. It is faster than havinf cash to gamble compared to cashless gambling since you only need to deposit using bank and withdrawal is the same. They also want to track people who are gambling. I don't have to explain more of it because what I see is that government want to gain benefits from gamblers. It could be bad for casinos I think since gamblers also pay tax which will make people stop gambling. All money that gamblers are willing to risk won't be lose in gambling alone but also in tax. If that happen in my country then I would stop gambling.

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Quote from: BitDane on December 28, 2022, 09:51:54 PM

So what do you think about this cashless gambling, is this another breakthrough of the gambling industry or just a way of the government to track their citizen and earn from the gambling establishment.

It's not good for business if the government is snooping or interfering in its operation and the clients will not trust the platform if there is interference that will endanger their vital information, cashless gambling is good because it's fast, easy and the integration of Cryptocurrency in the gambling industry it gives the players the peace of mind because transactions are transparent, and if there are no violations of the account, the player's account is anonymous.
It's actually a breakthrough for the gambling industry the integration of Cryptocurrency.

Topic: Cashless Gambling, your thought? - page 4. (Read 1087 times)