Topic: Cashless Gambling, your thought? - page 7. (Read 1087 times)

It's already too greedy for government to charge individual taxes on players for betting in gambling since they are already charging taxes on casino operator revenue which is equal to the total money spend by gamblers on the casino. It's already double tax on players money.

This law will just scare aways gamblers on using casino that has this kind of feature that will just result for less revenue for both casino and government.

I haven't really thought about physical casinos and lottery companies only using cashless payment option so far. When gambling online we are used to only deal with digital payments and got used to it. I am not really a big fan of cash anyways, so in case the casinos in my country would stop accepting cash all together it wouldn't make a big difference for me. Since the covid pandemic I have switched to using my card in 9 out 10 cases. But there are people who only want to deal with cash, one of my friends is like that. He always runs around with large sums of cash and never has a card with him. For people like him the ban would be a big deal, for the average gambler this will probably not change much, they can deposit their money first at bank and then use their credit card to play at the casino. In general I am not a big fan of any bans that limit our life in such a big way, gamblers should be allowed to choose between cash and digital payment options. For the government it might make sense to only rely on digital payments to make sure they are getting always paid their taxes, but some gambler don't want to have digital receipts for where they are gambling. It could be that some gamblers want to hide their activities from their wives and can't use the bank account that they are sharing.  

Maybe this is another breakthrough from the gambling industry implemented in one country so that they hope to reduce the exorbitant expenses made by many gamblers, to be able to find out who is gambling, to reduce cases of underage gambling, to help people addicted to gambling so that not taking more money to gamble and stuff.

And surely, this plan will have pros and cons for the public, especially gamblers because they feel that their gambling activities will be like being spied on by the government so that whatever they do with their money in the bank will always be monitored. And for the government, maybe it's a way to get taxed income from people who gamble, the casinos, and it can control the circulation of money from those people's accounts to the casinos. It might also be able to keep tabs on money laundering cases.

It has always been their reason for anything KYC related. Not that they're wrong or anything, but money laundering does indeed happen and their implementing stuff like this is simply a precaution. That doesn't stop people (and me) from wanting to play while preserving our privacy though.
I reckon right now it will indeed reduce, but in the long term said "cashless" system would probably be a part of the norm and would eventually crawl its way to the standard system people use. Though I guess if people are against it there will always be alternatives like crypto casinos with no KYC.

The world is going more digital, it would not be long that the people in power would be thinking in that regard. What you just brought to our attention here might look so simple, but in the deep thought of it, it would go a long way in further helping the government to oversee gambling activities when it comes to financial flows. The issue with cash is that once it leaves the bank, all its transactions are anonymous, and gambling companies are using it to evade tax and launder money.

A strict cashless gambling policy would surely help in this regard.

Every casino now is implementing KYC so I guess we can't do anything about it.

As for reason for a cashless society is to tax us? well I think that is wrong to begin with, not sure what is the intention behind probably to stir away gamblers from pushing their activity but isn't it that gambling is one of the most money generating collection for the government?

I'm not sold on the tax idea, perhaps what the government want is to control the crowd.

Well cashless gambling is already popular from few years ago, Armenia is just one country who start to push it. I think either link your bank account to the casino and gamble on crypto casino where you submit your KYC on both casino and centralized exchange are not really make so many difference. After all they're know you and will keep spying your activity. If anyone want to avoid KYC, then gamble on zero KYC casino.

If you're against a KYC casino, why you're promoting a KYC casino under your signature?

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 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.

It's a step in the right direction, but probably a step we wouldn't take.

Gambling platforms will surely go against this idea and just stick to what setup they currently have. Sure, they are guaranteed of profits because gamblers need to connect their banks directly to the platform, but that will surely deter a lot of people from gambling because of the few extra steps they need to take before they can go and bet. Another thing is the added identification they need to submit on their part. Gamblers are already saying no tk KYC, how else would you expect them to react when they need to connect their bank accounts?

I genuinely love this idea in order to prevent the rise in numbers of problematic gamblers. But I also know that this will not come into fruition because there's just a lot of factors that throw most gamblers off the gambling bus and would surely seek other alternatives to have their gambling fill. Underground gambling dens will rise and the government will have their profits go down the drain - most especially these casinos that paid for this license in order to operate legally.

Cashless online gambling is widespread in Hong Kong to attract gamblers from China, where gambling for money is known to be prohibited, so it seems to me that there is nothing new here and it has long been used to circumvent various prohibitions imposed by the state, but the problem of KYC remains, so the use of cashless on decentralized gambling platforms.

It's probably a good idea for local-based casinos. I mean most of them make a lot of money and it's more convenient to go after these big gambling companies instead of the thousands of small time casual gamblers.

I wouldn't say it failed yet. I just find it funny how the upcoming election became a major reason why it was called off. Politics is a numbers game after all.
 

I was expecting the reason the government wanted cashless gambling to be for minors to stay away from gambling, but the focus is on tax, although it is said to be a way to bring more clarity to transactions or so which means it would help in both, but why has it failed in Southern Wales? This may result to other ways citizens will go into more illegal gambling and unlicensed gambling which are probably not from their country. I do not think they should think too much about tax if at least they are still making more profit from gambling through tax and they can find other means to make the tax effective and unavoidable through other payment means.

It looks like Armenia isn't the first one aiming to implement cashless gambling.  Apolitical figure in New South Wales, Australia also attempt to force cashless gambling to gamers but failed.[1]  The reason as usual for implementation is money laundering.

So it is clear now why the government wanted to implement cashless gambling because they wanted to track or spy on peoples gambling activities in guise of anti-money laundering.



Same here, crypto casino platform is already available on the internet, why should I choose the cashless gambling imposed by the government when I can also do the same gambling activities with cryptocurrency casinos without risking my financial data of being exposed.

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[1] https://www.casino.org/news/forced-cashless-gambling-in-new-south-wales-australia-called-off-for-now/

It is a further step in population control, just like cashless societies in general and the upcoming implementation of CBDCs.

Governments will justify it with noble causes, such as preventing money laundering and underage gambling, but in physical casinos, at least where I live, you have to identify yourself when you enter, so minors do not enter and the number of people who use casinos for money laundering is very small.

In principle, if they implement it where I live, I will not go to those casinos, I will bet with cryptocurrencies. Just as I pay a lot with cash in my day-to-day life, even though paying with my mobile phone is more convenient.

Armenia was trying to have big BTC mining farms in thier country, there were articles circulating with this information so what is stopping the gamblers from using BTC or any other crypto to offset balances from thier bank accounts?

I know tax is important for the government to stand but they are not going to make gamblers pay a lot more from thier hobby while they already have paid taxes from thier income. Because they will find ways.

So Having paying paying with Bank and also receiving with also Bank is a good thing cause it has many benefits. Real Casino might not be able to Scam with People and also no corruption. So I wanna say that This law would be great for Gamblers too. They wouod have full control over their money and it would be super great. Let's see what will happen in future.

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.

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.)

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.

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.


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.

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[1] https://www.casino.org/news/armenia-introduces-new-taxes-restrictions-on-its-gaming-industry/