Have some questions about gambling licenses / incorporation 🎲 🎲 🎲 🎲

game-protect

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Quote from: Chatterino on May 08, 2018, 05:01:38 PM

Quote from: Joel_Jantsen on May 08, 2018, 04:15:08 PM

Quote from: Chatterino on May 08, 2018, 03:08:54 PM

Great to see that, KYC itself seems shady because not everyone wants to reveal their personal information, I guess I shouldn't have a lot of problems if I launch without a license as long as the withdrawal ratings are good

Provided you do comply with the common terms like "Players from the United States are not allowed to gamble on our website".If a player hailing from the States, due to any unforeseen circumstances files a complaint against your Casino you might end up in trouble. That gives FBI the reasons to investigate into your private policies and being not affiliated with any licenses is like a loophole they will take the advantage of.

For sure, I'm thinking of launching with US blocked to begin with, way too risky, thanks a lot for your feedback

Why is it risky to accept players from states without online gambling regulation?

game-protect

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Activity: 1344

Merit: 507

Quote from: Chatterino on May 08, 2018, 12:54:17 PM

Quote from: game-protect on May 08, 2018, 09:46:20 AM

Quote from: Chatterino on May 08, 2018, 07:42:56 AM

Are licenses even required if the site is 100% provably fair? - I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety.

The license requirements have nothing to do with whether or not your casino games are provably fair.

I know that -> "I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety."

Can you give me any other reason to have a license?

There are 3 possible reasons for a license:

1) It makes your casino operation legal

2) You can legally launder the winnings

3) Marketing instrument

Whether or not a license is recommendable for your casino depends on your personal situation. Maybe you live in a country where Bitcoin gambling does not require a license? Who knows.

There will be for sure players who do not care about a license, but there are also players who care. Bitcasino for example advertises its servive with the slogan #1 licensed bitcoin casino. This attracts high rollers and they will bring you the big revenue.

Then it also depends on what type of games you offer, how much your bankroll is and if you are also looking for investors.

Chatterino

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Activity: 5

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Quote from: Joel_Jantsen on May 08, 2018, 04:15:08 PM

Quote from: Chatterino on May 08, 2018, 03:08:54 PM

Great to see that, KYC itself seems shady because not everyone wants to reveal their personal information, I guess I shouldn't have a lot of problems if I launch without a license as long as the withdrawal ratings are good

Provided you do comply with the common terms like "Players from the United States are not allowed to gamble on our website".If a player hailing from the States, due to any unforeseen circumstances files a complaint against your Casino you might end up in trouble. That gives FBI the reasons to investigate into your private policies and being not affiliated with any licenses is like a loophole they will take the advantage of.

For sure, I'm thinking of launching with US blocked to begin with, way too risky, thanks a lot for your feedback

Joel_Jantsen

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Activity: 1988

Merit: 1317

Get your game girl

Quote from: Chatterino on May 08, 2018, 03:08:54 PM

Great to see that, KYC itself seems shady because not everyone wants to reveal their personal information, I guess I shouldn't have a lot of problems if I launch without a license as long as the withdrawal ratings are good

Provided you do comply with the common terms like "Players from the United States are not allowed to gamble on our website".If a player hailing from the States, due to any unforeseen circumstances files a complaint against your Casino you might end up in trouble. That gives FBI the reasons to investigate into your private policies and being not affiliated with any licenses is like a loophole they will take the advantage of.

Chatterino

newbie

Activity: 5

Merit: 0

Quote from: SyGambler on May 08, 2018, 01:26:15 PM

Quote from: Chatterino on May 08, 2018, 12:54:17 PM

Quote from: game-protect on May 08, 2018, 09:46:20 AM

Quote from: Chatterino on May 08, 2018, 07:42:56 AM

Are licenses even required if the site is 100% provably fair? - I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety.

The license requirements have nothing to do with whether or not your casino games are provably fair.

I know that -> "I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety."

Can you give me any other reason to have a license?

that's my way of thinking too when it comes to bitcoin gambling , I don't care at all about licenses and I play in a lot of sites that doesn't mention anything about licenses or laws and still they are running good

but I know many "licensed" fiat casinos that are running shady games without any prove of results , some of them also limit winners and block their funds when they win in sports betting

Great to see that, KYC itself seems shady because not everyone wants to reveal their personal information, I guess I shouldn't have a lot of problems if I launch without a license as long as the withdrawal ratings are good

SyGambler

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Activity: 2436

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guess who's back

Quote from: Chatterino on May 08, 2018, 12:54:17 PM

Quote from: game-protect on May 08, 2018, 09:46:20 AM

Quote from: Chatterino on May 08, 2018, 07:42:56 AM

Are licenses even required if the site is 100% provably fair? - I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety.

The license requirements have nothing to do with whether or not your casino games are provably fair.

I know that -> "I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety."

Can you give me any other reason to have a license?

that's my way of thinking too when it comes to bitcoin gambling , I don't care at all about licenses and I play in a lot of sites that doesn't mention anything about licenses or laws and still they are running good

but I know many "licensed" fiat casinos that are running shady games without any prove of results , some of them also limit winners and block their funds when they win in sports betting

Chatterino

newbie

Activity: 5

Merit: 0

Quote from: game-protect on May 08, 2018, 09:46:20 AM

Quote from: Chatterino on May 08, 2018, 07:42:56 AM

Are licenses even required if the site is 100% provably fair? - I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety.

The license requirements have nothing to do with whether or not your casino games are provably fair.

I know that -> "I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety."

Can you give me any other reason to have a license?

game-protect

hero member

Activity: 1344

Merit: 507

Quote from: Chatterino on May 08, 2018, 07:42:56 AM

Are licenses even required if the site is 100% provably fair? - I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety.

The license requirements have nothing to do with whether or not your casino games are provably fair.

game-protect

hero member

Activity: 1344

Merit: 507

Quote from: casinobitco on May 08, 2018, 08:50:59 AM

Monster Byte offers white-label, and API solutions, as well as umbrella licensing.

https://www.monsterbyte.io

Can you link to their umbrella licensing?

casinobitco

legendary

Activity: 1833

Merit: 1030

Quote from: Chatterino on May 08, 2018, 09:21:24 AM

I have completed most of the design/development myself, I am personally against white label solutions but I'll look into it what they offer, ideally I want to do it independently.

They (we) have APIs you can hook into; all provably fair... so you could in theory still control the design.
https://www.monsterbyte.io/games-api

Chatterino

newbie

Activity: 5

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I have completed most of the design/development myself, I am personally against white label solutions but I'll look into it what they offer, ideally I want to do it independently.

casinobitco

legendary

Activity: 1833

Merit: 1030

Monster Byte offers white-label, and API solutions, as well as umbrella licensing.

https://www.monsterbyte.io

Chatterino

newbie

Activity: 5

Merit: 0

Hello, I'm thinking of launching a Bitcoin gambling site but I'm completely clueless about real world laws and regulations, please pardon my noobish questions.

I am from a remote place and the lawyers/accountants here aren't that knowledgeable for me to blindly trust them, I had meetings with 2 but both were ignorant, so I would appreciate if anyone who has ran or worked with a casino would provide some feedback/advice on their experience with regulations, incorporation and what route would they take in future if they had to do it again. All sites had to start somewhere without incorporation and licenses Grin

My importance right now something that protects me from being doxxed and doesn't cost me a fortune (under $10k)

Do I need to incorporate even if I live in a tax free place?
Which country do I incorporate in and what are their benefits?
Are licenses even required if the site is 100% provably fair? - I believe as long as the casino is paying out people properly and the games are fair I don't see any use of a license beyond giving people a false sense of safety.
How do I incorporate without giving up personal privacy? - I understand users want someone to be held accountable but there are a lot of casinos run away with their users money even while they were incorporated, not to mention anything below $50k is not a lot for people to have a legal battle over, which is majority of disputes.

Also side question, what do you as a user look for in a BTC gambling casino in order to trust them with your money?

Appreciate any feedback!

Topic: Have some questions about gambling licenses / incorporation 🎲 🎲 🎲 🎲 (Read 181 times)