Topic: Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game (Read 2919 times)

Well, I think that at an international level when large amounts of money are handled, it causes some surprise to many, except for governments Because they supposedly have the right to handle large amounts, but this is something that is not correct, because things have to be equal. for everyone, especially in the private economies of Each person, you just have to see when international transfers are made from one Bank to another, if you go over $1k they start to generate much more astonishment and I don't like it, it's something with which I do not agree, however things with people Always look for sources of funds and all that , so if they Apply this to Crypto then that is why these types of Problems are generated.

Well, let me pretend that I understand you correctly, at least a bit, but for the benefit of the doubt since you are not so clear in your narration, did you mean that some casinos will offer you the crypto deposit and will not allow you to withdraw through the same means but through other means supported by their local regulators? I decoded this from what you wrote since this is actually happening in trading and investments but I have never witnessed such with crypto casinos. If this is the case as well, then it is not fair, both shouldn't have been allowed if To is allowed and Fro is blocked to avoid discrepancies.

The cryptocurrency itself made it possible for international casino businesses to be more known and accessible, and it should be fair to be allowing the same means of deposit for the withdrawals, but only ensure that the money is paid back to the account/address that deposited the funds. This is the international standard and I know that it is in compliance already with the Anti-money Laundry Act, so what? It also makes transactions tracebale which should not be an issue for regulators to trace and not make it difficult for the customer to get back their money if the option they want to force on them is not comfortable.

It is the easiest way to be good both for tax services and for gamblers. During the game - gamblers have their BTC and tax services don`t know how much money casino has in cryptocurrencies, but it doesn`t matter - if casino use cryptocurrencies, it has to recalculate it every moment due to the price changes. And casino just one time fix price of cryptocurrencies during withdrawal for taxes. The casino at that moment has no cryptocurrencies and don`t cares about it price.

Yeah.  Perhaps there really is no normal or optimal solution to this issue.  You are probably right and each casino solves problems with cryptocurrency payments in its own way and based on the requirements of local regulators. 
But the option of withdrawing from a deposit is apparently good and is most likely used in the practice of casinos in their locations.

I think that it is problem that can`t be solved. If the casino want to pay taxes without any problems, they must fix cryptocurrencies some moment. The best choice for it can be deposit or withdrawal. I think that withdrawal would be better - in this way the casino hasn`t problems with gamblers balance - it can be in USD, local currency, cryptocurrencies. Every currency will be converted in the local currency during withdrawal.

Of course, the international casino market involves the use of international money, that is, $USA.  But in many ways, international and cross-border payments were helped, of course, by cryptocurrencies.  First of all BTC of course.  Such payments have initially become quite simple and do not cause problems with cross-border transfers.  There is perhaps only one problem with Bitcoin, this is the tense state of the mempool and the need for large commissions or, as an alternative, a long wait for confirmation of the transfer transaction.  This problem significantly hinders many players.  But here immediately there are options for integrating LN payments or using other cryptocurrencies with small commissions, or USDT.  So it turns out that any international casino still uses these several payment options, and all in parallel.  And all casinos are forced to use them to increase their client base.  So balances still have to be maintained and calculated separately and only then recalculated into $.  And here it is important to fix the rates of cryptocurrencies in relation to $ and the transfer commission.  This is where confusion and sometimes misunderstanding on the part of regulators arises. 
Sometimes this creates unnecessary troubles or even bans for the casino.  But when fighting for clients, you still have to bypass them.

If people been aware about into those earning stuffs on how these businesses are making money then why they would really be that tending to come and play or deal with it?
It would really be that pretty obvious that they would really be giving out such services and offerings for them to make money and of course as long we arent that been forced
then i dont see any issues on why we would really be that aiming or trying out to elaborate on how these things do really be able to make money? It would really be just that common sense
that they are really that having the advantage.Yes, we do being concern about that legit stuff or being fair but of course we cant be able to stop out on thinking
about that we are really that at disadvantage.

Yes, it is so. But i think that casino must be interested in new gamblers. Cryptocasino is the most international casino and i think that it would be better to have an opportunity to calculate his money in USD(T). But of course if casino don`t want to have problem with tax services it must have a local currency.

You have good points my friend, and I do not even see much reason for this if we can be attentive to the two words; Trading and Gambling as they do not mean the same thing. However, if the two  (casino and broker) are fair in dispensing their services, then there will never be an issue. After all, we all know what we are signing for when we want to trade either of them, and for a trader not to gamble or gamblers not to trade means they understand what they are doing at least if they are adults. Needless to say, these establishments established them basically for the purpose of making money and anyhow they can make the money is important to them regardless of what it will cost the trader or gambler. So, it is we who should go for what we are comfortable with whether they are extorting us or not.

Regardless, if it is about the ease of making money on the part of the customer/client, trading has it, and the same goes for the sincerity in the operation of the core service of the two establishments (trading still has it). Most brokers these days are only intermediaries unlike before when some brokers will be internally creating the market themselves (market makers). For this, they only earn from the spreads, swaps and commissions which I know is fair enough for the service they always render, even as they have employees and experts to pay.

Or there is an option when the main business of the casino is conducted in local currency in the case when the majority of players are local residents and they practically do not use US dollars.  But if cryptocurrencies are used, then most likely the casino, if it operates officially legally, should maintain a separate balance sheet for cryptocurrency payments.  And in this case, it is still impossible to avoid a peg to the US dollar.  So anyway, if a casino uses cryptocurrencies, it must have accounts in dollars and, of course, in the main cryptocurrencies that the casino allows to use.  In this case, of course, the balance must be converted into dollars at current exchange rates.  Or at a fixed exchange rate for some date and time. 
Otherwise, you can simply get confused and cause misunderstanding and complaints from state tax services or from local regulators.

I don`t sure about ISDT or USD equivalents. It can become problem for casino with the tax services. I think that all deposits must be converted to local currency. But for the gamblers - they must have an opportunity at least to see their balance in USD. It is possible even not to show to gamblers their balance in the currency, they deposit.

The debate over who profits more from the financial markets, casinos or brokers, has been raging for years. On one side, casinos provide a venue for gambling and games of chance that give the house an inherent advantage. Slot machines and table games like blackjack are designed to have negative expected returns for players, ensuring the casino profits over the long run.

On the other side, stock brokers facilitate the buying and selling of securities for clients. Rather than profiting directly off customer losses, brokers make money through commissions on trades and other account fees. Successful brokers build large client bases and generate commissions whether the market is up or down.

This is probably the only normal method to somehow sort it out and not overdo it in the case of interaction between government supervisory authorities and the casino itself as a business structure.  Of course, the use of local currencies for tax purposes should always be converted to USDT or similar US dollar equivalents.  In the case of cross-border transfers in cryptocurrencies, when the casino operates at the level of the whole world, which is natural and should be the case if the casino is truly large, this method is probably the only normal and fair one in relation to both the state and the casino business itself.  Of course, I’m not talking about illegal tax evasion schemes and I think that international casinos, which we all know well, do not abuse tax evasion options very much.  A stable business is more important to them than immediate super-profits through “gray” tax evasion schemes.

While enjoying the process of gaming is important, it's also crucial to remember about one's financial well-being and to control gambling tendencies. Don't forget that relaxation also involves taking care of yourself and your future.

your money your choice , and brokers? why need them when you can do it yourself?
 and besides why need to invest using broker when you can invest in crypto and directly to your hands?
well you are correct in a part , because we are losing  in gambling but at least we are
enjoying the process .

I think it wiln`t change. The casino will pay taxes from their profit in local currency. If they get profit in cryptocurrencies - they have to convert it to local currency. Of course, casino can cheat and don`t show such kind of profit but i don`t think it is possible to control it today.
The only way someone can control it is if tax services will make casinos convert all deposits in USDT or some other stable coin.

If I understand you perfectly, what happens is that I believe that my country is one of the highest in inflation worldwide, so having local currency is useless, as I said, only to pay for services, it is the only thing that I see as useful , for a country that has a very devalued local currency like mine there is nothing to do, of course, one needs the dollar, because with that one can manage alone, and they will see whether to change them to the local currency or something like that, or I also always configure receiving and making a deposit with USD, because it is a strong currency, in itself, what we should always try to do is accumulate BTC to protect ourselves from possible inflation that comes from the dollar, although in these countries it is not I feel the inflation of the dollar very much, however in the informal economy products raise their price in dollars, the truth is that where I live it is economic madness, there is no control, but it is a fact that we must protect ourselves economically.

Thank you for this emphatic statement, I do not see a reason for any of them to play us, and for the record, none of them is to be done by force. One thing is that the OP see things in his own way, and that is fine, I respect people's opinions, but constructively, we continue to educate and guide them not to wrongly impose the wrong ideas on people. Gambling is a choice, but this choice entails you taking an entire risk on what you wager at once. It is now left to you to know the game you want to bet for the chance therein and how your expertise can help you to be on top of your game.

This includes the luck coefficient as well, so it is all about you, your choice. You can imagine me gambling sports betting if I am serious about making money in gambling. This is because I've realised and accepted the fact that casino betting has a higher risk, so I safeguard against the cheap ways of losing my money. And whole system is fair because if I lose, I lose to their pock and if I gain, I gain from their pocket, no one is cheating the other. Regardless, the risk is involved and we can't do away with it, that is why they call it Gambling, even as all the terms and conditions must have been well stated, so no one is cheating anybody.

As for trading, this one is even better specified and modelled, it's stricter and more formal than gambling when it comes to the people behind it. This is a pure business, but since it's an electronic business that is risky and is delivered to informal people, people do not take it so seriously, which is one of the reasons why they lose through it. Nevertheless, if you know how to trade well, you get easy and tangible money from it, needless to say, I can point to many successful traders. These guys also pay all the charges and still manoeuvre their ways in trading to regularly get their success from it.

I agree with you, most especially, with the first paragraph of your comment, I myself living in a country that is majorly considered to be a third world country, I would say that based on my experiences overtime, it is better to earn in a currency that is stronger than our local currency, (like the dollar) than earn in our local currency, and this because just as you have said, inflation most of the time bite really hard to the extent that you discover that after you've gotten your pay from what ever means, the money is so undervalued that it almost cannot buy anything meaningful in the market.

This is why I personally prefer to do all my betting and gambling in dollars, even when I am betting on a local casino, I simply set my prefered currency to dollar rather then leave it set to my local currency, and when I open a new local casino and discover that they don't support me setting my prefered currency to dollars, I simply just ignore that casino and look for another.
This is one of the reasons why I actually don't use our local casinos too much, I prefer to gamble on international online casino like Stake and the rest, thank goodness for cryptocurrencies that have made both deposits and withdrawals from any part of the world so easy, way easier than it would have been if fiat was the only means of deposit and withdrawals from online casino..

Yeah, the transformation of international payments is happening, that's obvious.
 Nowadays there are quite a lot of prohibitions, exceptions and sanctions.  So this is rather a forced measure and cryptocurrency cross-border payments are increasingly in demand and relevant.  And in parallel, of course, their use in the gambling industry is growing throughout the world.  In this regard, you are absolutely correct in noting that there will be some segmentation of cryptocurrency payments and the emergence of users and clients of crypto casinos everywhere in many countries around the world.  This will naturally smooth out some of the imbalances in people’s living standards in many countries.

In general, I have a positive view of such global processes of redistribution of income and capital in general.