Casinos after the shutdowns of mixers - page 5.

boyptc

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Quote from: maydna on December 04, 2023, 09:22:20 AM

Let's hope it's not related to crypto casinos. However, casinos may take serious action to address the recent incidents at mixers by increasing supervision of their users. Crypto casinos will tighten their regulations, and casinos may immediately implement KYC on their users. By implementing this verification, the casino can at least monitor its members who deposit and withdraw large amounts of money. If the government asks questions about money laundering cases, the casino can provide its data for further investigation. Current conditions are increasingly difficult for crypto casinos because they are being monitored more closely by the government, so they have to be more careful in running their business.

All of those are possibiities.

But I don't think that they're going to take it seriously when majority of them are registered and have a trademark unlike the mixers that have unknown developers or owners behind.

Maybe they'll take it as a precaution to do their jobs better and monitor more players accurately. Other than that, I don't see something serious that shall go with the casinos.

KTChampions

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

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The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

Casinos have been fighting against being used as mixers or whitewashers for a very long time, so it's unlikely that much will change for them. Another thing is how the situation on the forum will change. But there is no point in guessing; first we need to wait for January 1st and see how strictly the mixers will be “removed” from here. In any case, we can say that a free niche appears and it will be filled with something.

Fivestar4everMVP

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To be honest, i still can not find out how the demice of mixers on this forum has anything to do with gambling casinos, casinos have been operating way before mixers came into existence, and I honestly do not see how the absence of mixers on this forum would affect casino since both have nothing in common.

Even if some gambler now turn to casinos as a means to launder money, this wont be possible to do in every casino since some casinos have wager requirement placed on every deposit, where the user is mandated to wager a certain amount of money off the money deposited before he or she can withdraw it if he or she wishes to.

And another thing I will also like to add is that, banning mixers on this forum does not mean that mixers are banned from existing even outside the forum, mixers can still operate outside this forum, only thing is, they can't be promoted on this forum anymore, or discussed about here.

panjul07

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

Probably many users will join casinos for an alternative of mixer.

Who will be stupid enough to use casinos as an alternative of mixer? Why I say using casino as alternative of mixer is stupid?
First, casinos are no longer anonymous especially when it comes to big transactions due to casinos reserve the right to request KYC.
Second, most casino implement 1x-2x wagering requirement for the deposit before players able to request withdrawal, it means that people need to risk the money.
Will those people who want to mix want to risk their money in a casino? I dont think so, although there is a less risky strategy such as betting with 1.01x but there is still a risk to lose the whole amount.
In case someone is lucky enough to bet the whole amount with low risk, I believe casino will consider it as a suspicious activity if the player request withdrawal after betting 1.01x only.
Last but not least, mixing sites will still be available out there IMO, they may no longer exist here in bitcointalk but there are still many other places for them to promote their services.

aioc

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

The mixers are just being shut out here not their operation, so why bother they will not shift from mixing to casinos just because Bitcointalk does not allow the promotion of mixing here, they will just transfer their promotion elsewhere but it's still business as usual for them.

It's very risky if they suddenly shift to casinos given that casinos are very hard on money laundering, they can easily track cheaters what more with money launderers, I have seen in the scam section where users are banned because of accusations of money laundering although the victims deny it, will the launderers take that risks I don't think so.

AbuBhakar

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

I created a topic related to money laundering on casino https://bitcointalksearch.org/topic/m.63263202 and ask this same question but I guess the difference between the casino to mixers was they have license to operate that involves KYC as complying to the AML policy. Casino is actively fighting money laundering while mixer doesn’t have any restrictions about money laundering since they don’t screen all the incoming transactions since they offer privacy with their customers.

Being centralized casino with KYC is still a blessings for us despite many of here always complaining about the casino KYC.

Litzki1990

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A number of mixer campaigns promoted on the forum have had this happen multiple times and the latest Sinbad mixer has had such an incident which may be why the forum has decided that running mixer campaigns on this forum can harm the forum. If we are talking about signature campaign then most of the campaigns are running mixer campaign, few are running online casino or gambling site promotion campaign. Since mixer forums will be banned from January 1st, only gambling or casino sites will be allowed to promote on the forum. If the gambling or casino site commits such fraud and the gambling and casino sites are banned due to such fraud, there will be no signature campaign to promote in the forum. So banning is not the solution but the solution is to keep proof so that mixer campaigns or other campaigns cannot cheat. It would be a good decision to allow mixer campaign running in forums with proof.

maydna

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Let's hope it's not related to crypto casinos. However, casinos may take serious action to address the recent incidents at mixers by increasing supervision of their users. Crypto casinos will tighten their regulations, and casinos may immediately implement KYC on their users. By implementing this verification, the casino can at least monitor its members who deposit and withdraw large amounts of money. If the government asks questions about money laundering cases, the casino can provide its data for further investigation. Current conditions are increasingly difficult for crypto casinos because they are being monitored more closely by the government, so they have to be more careful in running their business.

Weawant

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Quote from: avp2306 on December 03, 2023, 06:57:53 PM

Maybe they respond to comply with new directives coming from administrators and for sure they would do some necessary measure like having a KYC on their platform so that they will not get banned the same with mixers. I also don't think that KYC compliant casino will be the main destination of people especially those criminals since those current running mixers are only banned in this forum and they can still operate outside so provably they continue and those people who always use their service would still use them to wash their dirty coins.

If there changes would happen here after January 1? Maybe we can't see it for now but let see what will happen next year.

KYC is the biggest way out for casinos not to get caught up with the whole money laundry saga. We are aware some casinos do not make mention of KYC at registration and some literally don't ask for it at all but then in other to be accountable about their users and be able to get their self out of involvement in issues such as this, they may need to initiate compulsory KYC policies.

Criminals will definitely not wan to patronize KYC compliant casinos because they will no longer be anonymous with their iligalities, but then aside crypto deposit which can be made anonymous via mixing, other means of deposit could actually be tracked and that's why most criminals would rather fund with cryptocurrency than Fiat or bank transfer, if casino employ policies that restricts funding from anonymous cryptocurrency address I think it's another way out of this too but then it will be bad business for mixers.

Russlenat

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Quote from: Kakmakr on December 04, 2023, 03:30:28 AM

We all knew it was just a question of time, before countries start working together to stop these mixing services. Roll Eyes

I think the people using these mixing services, will probably just move over to privacy coins or things like "Coinjoin" type services.

They can't stop it easily if after a certain site is block another one will be created, it's just like a repeatitive process or a waste of time on their part. What the government will probably targeting are the platforms that are supporting this mixing service because they made it more popular, and probably that's one of the reasons why our admin considered banning the promotion of mixers in our forum.

Quote from: Kakmakr on December 04, 2023, 03:30:28 AM

Yes, I agree that people need pseudo anonymity to protect their financial privacy, but unfortunately a large amount of criminals also use these same services and that is where it has gone all haywire. Angry

And the government has no choice but to BANNED them all.

But.. let us not fear the fate of gambling as it will stay, the government have controlled it through regulation and they are benefiting from this, unlike mixers where they didn't

TravelMug

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Quote from: Kakmakr on December 04, 2023, 03:30:28 AM

We all knew it was just a question of time, before countries start working together to stop these mixing services. Roll Eyes

I think the people using these mixing services, will probably just move over to privacy coins or things like "Coinjoin" type services.

Not sure though, it was just the US who are really into this, going after mixing services because they said it is being used by criminals specially by the North Korean state sponsored hacking group such as Lazarus and others groups.

Quote from: Kakmakr on December 04, 2023, 03:30:28 AM

Yes, I agree that people need pseudo anonymity to protect their financial privacy, but unfortunately a large amount of criminals also use these same services and that is where it has gone all haywire. Angry

There's no more pseudo anonymity now, everyone is mandated by these regulators to have KYC including gambling platforms. But I don't see casino those affected by the shutdown of mixers, criminals will have to look for other means to launder their money and maybe still uses mixing services but it won't be promoted here in our community.

len01

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some of the popular casinos here apply KYC to slightly screen out money laundering, I mean maybe by implementing KYC the casino can prevent money laundering although some can get away with it but as other people have said, casinos that have implemented KYC are usually licensed casinos and there are many rules regarding things against money laundering and the bad impacts that are currently happening will not have a negative impact on the casinos in this forum and there is no need to worry because casinos always have a valid license and can prevent money laundering or the proceeds of any crime.

related to many people joining gambling, it could happen and maybe the forums will again be filled with new casinos that will appear promoting here.

Mr. Magkaisa

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

Numerous bad news and developments unfolded this past week, mainly impacting privacy and decentralization. The recent crackdown by United States authorities on well known mixers has serious implications for users and even businesses or projects. Mixers were originally designed to keep users anonymity, and the current situation appears to be so harming for both sides and a slap for bitcoin users as well.

The worse news, is mixers will no longer be allowed in Bitcointalk for any kind of promotions or even discussions. Along with the risk of getting banned because of that means ; Mixers are dead here in BTT.

Now, you may be wondering about the connection between mixers related issues and casinos. The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

- I think that's exactly what will happen; anything related to that is no longer possible. Now, with the casinos, I also think that the casinos can't do anything about that either. Because gamblers also often use that, now we just don't know if it's good or bad.

And then it's for the sake of the community here on the forum platform. From what I can see, the solution is also visible. We know that this forum platform is also a big thing to everyone here on this forum.

Kakmakr

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We all knew it was just a question of time, before countries start working together to stop these mixing services. Roll Eyes

I think the people using these mixing services, will probably just move over to privacy coins or things like "Coinjoin" type services.

Yes, I agree that people need pseudo anonymity to protect their financial privacy, but unfortunately a large amount of criminals also use these same services and that is where it has gone all haywire. Angry

_act_

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

Gambling sites are not mixer, there is no challenge that gambling sites are facing or that will be faced if talking about what happened recently. The government do not like mixers. Or let me put it like this, the United States government do not like mixers, this is because mixers are helping hackers to mix coins, making it hard to trace. But casinos are not like that. Casinos are following the anti-money laundering and counter terrorism policies unlike mixers. Casinos are regulated.

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

The thing lies in casinos capability to facilitate untraceable transactions, enabling scenarios like depositing and withdrawing without a trace, potentially leading to money laundering.

They're not gonna do that as they are aware of the consequences of their actions.

Casinos are regulated, they are bound to follow the rules impose by their regulators, once they violated it, they will lose their license and possibly a lawsuit will be coming. So just relax mate, nothing will happen to the gambling industry as this AMLC (Anti Money Laundering Council) is only targetting criminals and they required casinos to cooperate, only those who are not cooperative will be at risk for business closure.

ethereumhunter

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Crypto casinos will still operate but they will tighten the regulations because government supervision will also be stricter on the crypto casino business. The government wants to prevent crypto casinos from becoming the next venue for money laundering after some mixers are closed. The closure of the mixer is also a strong warning to businesses that are still carrying out money laundering practices so these businesses will gradually experience problems if they do carry out money laundering practices. Crypto casinos will probably increase the supervision of their members, especially those who often use large amounts of money for their deposits and want to ensure where the funds come from. And as long as crypto casinos comply with the regulations run by the government, crypto casinos can still run their business.

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Quote from: GxSTxV on December 03, 2023, 03:05:53 PM

The important question here: how will casinos respond to this new landscape, and what measures will they take and implement to face the challenges posed by recent developments? Probably many users will join casinos for an alternative of mixer.

This should be unthinkable because there no way someone would sent a huge amount of money into casino just for the sake of trying to mixe coin and get another out of currency does this sound wise and normal?
No because comparing to how frustrating it's for a user start using casino going through all kinds of kyc and documentations just for them to get their money out of the casino, beside some casino may have a deposit and withdrawal limits.

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Quote from: Gozie51 on December 03, 2023, 11:37:07 PM

I think the ban on mixers will not primarily affect casinos. In the first place they are regulated and before now many of them hold on to KYC requirements in their terms and conditions, so it is still as before to check for illicit transfers and money laundering. So it is still generally as business as usual, I don't think anything has changed.

Casinos will remain as they are compliant with the law, unlike Mixers which are not regulated and it can be easily use for money laundering. With casinos, everything needs to be black and while, if you are a user, you transact big money, you need to comply with the casino not only with your information but also their documents too, in addition, your IP address will be link so casinos will know your location as using VPN to hide it could somehow compromise your account.

Gozie51

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I think the ban on mixers will not primarily affect casinos. In the first place they are regulated and before now many of them hold on to KYC requirements in their terms and conditions, so it is still as before to check for illicit transfers and money laundering. So it is still generally as business as usual, I don't think anything has changed.

Topic: Casinos after the shutdowns of mixers - page 5. (Read 839 times)