Cashless Gambling, your thought? - page 5.

coin-investor

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Quote from: BitDane on December 28, 2022, 10:51:54 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.

pawanjain

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Ofcourse it is just another way by the government to track their citizens. They have aimed for two things simultaneously.
This move will enable the government to collect taxes from gamblers as well as track them for money laundering.
As for gambling, I think people will still be able to bypass this law with the help of crypto currency.
They can simply buy crypto via cash and use crypto gambling platforms to gamble.
This will promote P2P crypto transactions and increase crypto gambling.

robelneo

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Quote from: BitDane on December 28, 2022, 10:51:54 PM

Have you ever thought of a government implementing a Cashless gambling? Making hard cash obsolete for gambling purposes? Armenia is currently pushing this law that force their gambler to do gambling transaction via bank[1]. It was stated that the said law is created so that the government can tax gambling institutions effectively. They also add an additional requirement that the gambling establishment needs to pay in order to get the desired licenses on how much bet the establishment can accept.

This may look profitable for the government but I believe it will hit hard gamblers. With the implementation of cashless gambling, gamblers are now exposed since they have to use their credit cards or debit card to play. (Another way of the government to spy on their citizen.)

There's such a thing as bank secrecy law where the bank is not allowed to share your information with any organization even the government, you need a court order for a bank to divulge information and transactions we live in a democratic law and the government cannot just open ones bank account for no big reason like being involved in money laundering and corruption.

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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.

I agree that's the positive side of it minors will have limited access to gambling

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May take on this.. screw the government if we really wanted to do cashless gambling, there is always a cryptocurrency gambling platform option where we can at least play gambling without the need to use our bank account.

There's still regulation on Cryptocurrency backed casinos because these Cryptocurrency casinos are now compliant and regulated they will still ask for KYC under specific condition

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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.

The government cannot track individuals through this means, but it can encourage establishing e-commerce not only for the gambling industry.

Cling18

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Quote from: decodx on December 31, 2022, 04:48:04 AM

The use of cashless payment methods in gambling has become more common in recent years, however it is still important for gamblers to have the choice of how they want to pay. Additionally, mandating cashless gambling could pose challenges for those who may not have access to or be comfortable using electronic payment methods. And, I believe, there are many of them in less developed countries.

However, since we are on a cryptocurrency forum, I'm pretty sure we don't have to be afraid of a cashless society. Cryptocurrencies are here to stay and they will be the future of money, and it's not unreasonable to expect them to become a viable option for the majority of gamblers in the future. So, I don't see any problem with cashless gambling.

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.

CryptoYar

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Quote from: BitDane on December 28, 2022, 10:51:54 PM

~ just a way of the government to track their citizen

So aren't they already doing this? Mate they already monitoring you through your Internet Service Providers (ISPs). They know what you searching online. What casino you are playing. etc.
So it is out of the question that they have done this for tracking. Rather its purpose is the exact as stated in the article. "introducing new regulations to increase taxes"

decodx

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The use of cashless payment methods in gambling has become more common in recent years, however it is still important for gamblers to have the choice of how they want to pay. Additionally, mandating cashless gambling could pose challenges for those who may not have access to or be comfortable using electronic payment methods. And, I believe, there are many of them in less developed countries.

However, since we are on a cryptocurrency forum, I'm pretty sure we don't have to be afraid of a cashless society. Cryptocurrencies are here to stay and they will be the future of money, and it's not unreasonable to expect them to become a viable option for the majority of gamblers in the future. So, I don't see any problem with cashless gambling.

danherbias07

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Tracking the rich people, that's all the reason I see why they are doing this.
Tax. Someone who is evading their taxes can now be tracked and this can be used to be evidence that they do have the money and yet they are not paying it.
They won't even need permission from the owner of the debit/credit card, they will just take the amount you owe the government and surprise you when you wake up. If one casino does this kind of method where there are no options then I'd be better off at online gambling where they won't track anything that I own.

maydna

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Quote from: Mr. Magkaisa on December 31, 2022, 02:37:56 AM

- Not all countries have yet implemented what they want to do for gamblers and the casino gambling platform. This is what Armenia wants to do, I think it's just an extra burden on our casino players here in cryptocurrency and I also think on the other hand it's also a burden on the gambling owners.

Although if you look at the article their government want to control the gambling platform and gamblers for this matter in fact, which is a little bad for me.

This may be to the advantage of the government wanting to take extra income taxes from casinos and gamblers, giving no profit to gamblers. But maybe this is a way for the government uses to limit the use of money for gambling by gamblers so that if they want to pass the limits set by the government and banks, they have to show additional evidence. The bank can track all gambling transactions from bank statements and gamblers cannot deny it and if a gambler is close to crossing that limit, they can get alerts from banks and the government to reduce it. We need to see what will happen after some casinos pass this law and its effect on gamblers. If gamblers feel that they have no objections to the law, it is good for them and vice versa. It may need to be revised again.

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Quote from: BitDane on December 28, 2022, 10:51:54 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?

I can say both. I guess putting another layer for our security requires a bit more of our information, not only for the government to track us with every move we make, but also to monitor things/transactions which was not done by you. I know some of us, or most of us does not like to be completely exposed under the governments radar, so I guess the government should also be fair by not enforcing such laws mandatorily. Every country has a written law about data privacy and stuff like that, and this would completely contradicts that law.
Well, there's only 2 way I could think of to avoid this mandatory gambling law. First, don't gamble at all, and second, use cryptocurrency that doesn't require any KYC.

Mr. Magkaisa

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- Not all countries have yet implemented what they want to do for gamblers and the casino gambling platform. This is what Armenia wants to do, I think it's just an extra burden on our casino players here in cryptocurrency and I also think on the other hand it's also a burden on the gambling owners.

Although if you look at the article their government want to control the gambling platform and gamblers for this matter in fact, which is a little bad for me.

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Well, to some extent there is already cashless gambling, the gambling that is done online, but this measure refers to gambling in land-based casinos, to which from the citizen's point of view I see a fundamental disadvantage which is privacy: if you have to pay by card, your bank will know that you gamble, and potentially the government as well. This does not happen with cash. And banks take this into account as a risk when giving loans, if you are a gambler and you ask for a loan, the interest rate will be higher and maybe they won't even grant it.

Quote from: Hispo on December 30, 2022, 10:16:41 PM

In the eyes of the government, it is indeed beneficial but if we are talking about credit cards and bank accounts I assume there are also bankers heavily involved in this new sets of laws. I assume they will get highly pleased to pocket some extra cash out of the fees.

I don't think it is good to reduce the available options for people who partake in an activity as gambling or any other legal activity it can only serve as a precedent for the forced implementation of Central Bank Digital Currencies.

Yes, I believe this is part of a global plan to make societies as cashless as possible, which was a wet dream of governments and central banks, and still is, but was cut short by the emergence of Bitcoin.

klidex

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Quote from: Darker45 on December 30, 2022, 09:53:01 PM

If I were from the side of the government, I would definitely push for cashless gambling. Not only is it very convenient for them as far as tax purposes are concerned, it is also very handy for them to monitor suspicious activities like money laundering. Aside from having minors greatly reduced from casinos, it also means a lot to families whose spouses are hiding their gambling activities, or even addiction, from them, possibly using money that should have been allotted for family needs.

As a gambler, I definitely don't like it. But perhaps it's a compromise I'm willing to take, especially because there is always crypto gambling as an alternative.

Your opinion is good and there is some truth to it. Gamblers will be more comfortable and safe without having to worry that there are people around them who know that he is a gambling enthusiast.
However, this cannot be applied to every country because some countries have decided to ban gambling activities.
Even though there are also several countries that have provided articles or laws regarding the illegality of gambling, in these countries there are a group of government officials who provide gambling permits by asking for more taxes, but these taxes are not included in state revenue but are only shared and controlled by the people in the group.
And this happens in the country where I live where there is a law regarding gambling but it is only used by government officials who are hungry for money and wealth.

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Yeah this is pretty interesting and one thing that I absolutely agree with you on is the fact that this will hurt the governments bottom line of being able to collect tax revenue from gambling proceeds. I'm sure in some ways it will help solve some problems, obviously using cash is largely anonymous and what not, and can allow illegal use of funds to be used for gambling, but on the other hand I'm with you..fuck the government, this shouldn't be allowed.

Hispo

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In the eyes of the government, it is indeed beneficial but if we are talking about credit cards and bank accounts I assume there are also bankers heavily involved in this new sets of laws. I assume they will get highly pleased to pocket some extra cash out of the fees.

I don't think it is good to reduce the available options for people who partake in an activity as gambling or any other legal activity it can only serve as a precedent for the forced implementation of Central Bank Digital Currencies.

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If I were from the side of the government, I would definitely push for cashless gambling. Not only is it very convenient for them as far as tax purposes are concerned, it is also very handy for them to monitor suspicious activities like money laundering. Aside from having minors greatly reduced from casinos, it also means a lot to families whose spouses are hiding their gambling activities, or even addiction, from them, possibly using money that should have been allotted for family needs.

As a gambler, I definitely don't like it. But perhaps it's a compromise I'm willing to take, especially because there is always crypto gambling as an alternative.

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Quote from: n0ne on December 30, 2022, 07:45:09 PM

Quote from: stomachgrowls on December 30, 2022, 07:24:27 PM

Quote from: BitDane on December 28, 2022, 10:51:54 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.

They are just taking another step just for them to filter out thoroughly for these establishments wont be able to bypass or skip out on paying taxes or simply those obligation.I would rather say that this would really be a

desperate move if ever they would be implementing out that cashless gambling or simply trying out to link up all of your bank accounts and credit cards with this.Of course we do know that everything could be checked and could be seen.There's no way you could really hid yourself on this kind of system and this is where crypto gambling would really be more relevant or would be in demand because
not all gamblers would really be that accepting this kind of terms.

This is really an appreciable move from the government to increase its revenue. Same time it is good in another way, as it is possible to see good number of people moving towards the usage of cryptocurrency accepted gambling platforms for their gambling needs. This gives the users the best experience as well as there is no need of fearing the government's plan to make money.

If we do just look on the good side of things then we can say that getting more revenue or tax will really be something that brings up positive for economic aspects.Its true that if this one would be strictly be imposed
then pretty sure that people would really be switching up on crypto gambling which there's no way that you would be needing up to link your cards or banks or making yourself that identity to be exposed.
Its true that not all would really be t hat confident on exposing their identity or someone who do really value their anonymity or privacy simply.

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Quote from: stomachgrowls on December 30, 2022, 07:24:27 PM

Quote from: BitDane on December 28, 2022, 10:51:54 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.

They are just taking another step just for them to filter out thoroughly for these establishments wont be able to bypass or skip out on paying taxes or simply those obligation.I would rather say that this would really be a

desperate move if ever they would be implementing out that cashless gambling or simply trying out to link up all of your bank accounts and credit cards with this.Of course we do know that everything could be checked and could be seen.There's no way you could really hid yourself on this kind of system and this is where crypto gambling would really be more relevant or would be in demand because
not all gamblers would really be that accepting this kind of terms.

This is really an appreciable move from the government to increase its revenue. Same time it is good in another way, as it is possible to see good number of people moving towards the usage of cryptocurrency accepted gambling platforms for their gambling needs. This gives the users the best experience as well as there is no need of fearing the government's plan to make money.

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Quote from: bitcampaign on December 30, 2022, 06:23:05 PM

then how about gamblers who use crypto and crypto generated from their work on the internet, I don't think the government will track it about that unless that person cashes out his crypto into an account that belongs to him, it can be tracked, I also don't like this way but if it's for good for example paying taxes is no problem

I was also going to mention the use of crypto but it probably doesn't matter since gamblers still have to cash it out in the end and report their winnings. It's most likely for the better but it can still be an inconvenience for some gamblers since there are others who prefer to use a specific payment option. On the plus side, this change could be helpful to a few since they did mention that they want to reduce gambling harm as well.

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Quote from: BitDane on December 28, 2022, 10:51:54 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.

They are just taking another step just for them to filter out thoroughly for these establishments wont be able to bypass or skip out on paying taxes or simply those obligation.I would rather say that this would really be a

desperate move if ever they would be implementing out that cashless gambling or simply trying out to link up all of your bank accounts and credit cards with this.Of course we do know that everything could be checked and could be seen.There's no way you could really hid yourself on this kind of system and this is where crypto gambling would really be more relevant or would be in demand because
not all gamblers would really be that accepting this kind of terms.

bitcampaign

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then how about gamblers who use crypto and crypto generated from their work on the internet, I don't think the government will track it about that unless that person cashes out his crypto into an account that belongs to him, it can be tracked, I also don't like this way but if it's for good for example paying taxes is no problem

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