Illegal gambling in Asian football increased partly because of crypto? - page 3.

barbara44

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Quote from: rosezionjohn on February 14, 2020, 10:56:36 AM

It doesn't sound good that crypto is being used by illegal gamblers but it is just a medium of exchange that any individual can spend like fiats. I guess they found crypto, being borderless and censorship resistant currency, more practical to use for gambling.

Yes you are right like hackers now a days use it for ransomware hacks. But on a flip-side, when bitcoins did not existed it's not that there were no crimes and we were living in the golden age. I mean hackers and gamblers will always find a too for their gambling for instance there was Liberty reserve earlier which was almost serving the purpose of bitcoins and now there is Perfectmoney but LR and PM both being controlled by some organizations will always have their limitations though.

What I mean to say is that we will always have a tool that people will use for gambler and other activities and I personally see no problem if someone earns money and gambles it, it's their money and hey should have the power to spend it.

serjent05

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It is a no brainer for someone who wanted to stay anonymous to use a method that will keep them unknown. And ever since the history of cryptocurrency, it always had been used in illegal trades and transactions. But they should not blame cryptocurrency for it because as OP stated, it is just a medium of exchange same as fiat currency.

As of the increase of illegal gambling, I do not think that the existence of crypto has a major role in that. And the article stated that there is actually a sharp decline in these illegal activities even with this crypto option as means of transaction.

harizen

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The subject didn't really point out that because of crypto, illegal gambling increases "in general". If we will understand the context and since there is no such thing as hard regulation in crypto gambling, betting in crypto is easy as 1,2,3 and everyone can bet without KYC or verification unlike regulated fiat-gambling, it opens opportunities to other people leaving in an area to gamble even gambling activity there was illegal. Plus there are crypto-gambling sites that operate without a license.

Illegal gamblers on the article literally not doing illegal things like taking drugs, kidnapping or any forms of the usual "illegal" activity we have known. They just became illegal because they are doing gambling under a country or areas where gambling is prohibited. If we bring these illegal gamblers into a gambling-free country, they will not be called that way obviously.

Actually the subject is pointing out that fixed-matches in Soccer Asia now decline over the past 6 years on which more information can be found by reading the article shared by OP.

dothebeats

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Well what do you expect? Cryptocurrency has allowed the gates of illegal gambling to open since it offers anonymity for those who wish to use it. Underground economies will always exist no matter how hard the governments impose the bans on certain facets of the economy.

At this point in time, people should accept the fact that bitcoin will always have its two sides: the one that the government hates and the one that the masses acknowledge. Most countries in Asia prohibit online gambling and want their citizens to just go to their accredited gambling houses instead. People patronizing online gambling over traditional gambling houses hurts the economy. Then again, we know that online gambling offers far more flexible, enjoyable and winnable games compared to what your local casino offers.

jademaxsuy

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Quote from: rosezionjohn on February 14, 2020, 10:56:36 AM

That's according to this news report https://uk.reuters.com/article/uk-soccer-asia-corruption/soccer-asia-sees-sharp-decline-in-match-fixing-says-afc-idUKKBN2080EN

After linking bitcoin and other crypto with money laundering and online crimes, here comes another issue Cheesy

Quote

...traditional payments from financial institutions and wire transfers have switched to methods like cryptocurrencies or even payment in kind.

We have observed an increase in adoption of cryptocurrency as a payment method for illegal activities and a medium to bet.

It doesn't sound good that crypto is being used by illegal gamblers but it is just a medium of exchange that any individual can spend like fiats. I guess they found crypto, being borderless and censorship resistant currency, more practical to use for gambling.

I am not surprised that cryptocurrency are used in criminal activities. Cryptocurrency are rival to local services in my opinion because no one will use theif services and would only use cryptocurrency services to send or make transactions. We all know that there is a service where you can use to send money but it is under management goverment unlike cryptocurrency which you don't have to go through verification and other stuff.

wozzek23

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Bitcoin has certainly increased the levels of match-fixing and online betting in Asian countries because there are countries like India for instance where gambling is actually banned, (Indian laws allow skill betting but not luck based gambling) people on such countries are overjoyed by the introduction of bitcoins not because they don't have to pay taxes on bitcoins but also because bitcoin gambling casinos do not ask for any sort of ID proofs or anything and that gives such gamblers a huge advantage and when there is more betting there will obviously be more match fixing and such incidents.

Match fixing is more common because Asian countries struggle to make money and so the players from their country and hence a soft target for big gamblers.

stomachgrowls

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Quote from: rosezionjohn on February 14, 2020, 10:56:36 AM

-snip-

What would you expect? They would really post up issues into things as long they do saw that it do increase criminality rate or transactions without even
thinking up that this had been done on fiat since in the beginning.You cant stop people not to use up crypto yet we know that its one of its main features
is anonymity or untraceable.Well, this is just an another negative news or image for Crypto once again.

tyKiwanuka

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Crypto is of course being used for a lot of criminal activities and illegal gambling and match fixing is one of them due to the reasons you mentioned. Kidnappers, Hackers etc. often ask for Bitcoin as ransom. But fiat has been used for that as well in the past. And knives have been used for not only cutting your bread, but also to murder people.

People will always misuse good meant inventions for bad things. It's something we have to accept as part of the game of life in general.

rosezionjohn

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That's according to this news report https://uk.reuters.com/article/uk-soccer-asia-corruption/soccer-asia-sees-sharp-decline-in-match-fixing-says-afc-idUKKBN2080EN

After linking bitcoin and other crypto with money laundering and online crimes, here comes another issue Cheesy

Quote

...traditional payments from financial institutions and wire transfers have switched to methods like cryptocurrencies or even payment in kind.

We have observed an increase in adoption of cryptocurrency as a payment method for illegal activities and a medium to bet.

It doesn't sound good that crypto is being used by illegal gamblers but it is just a medium of exchange that any individual can spend like fiats. I guess they found crypto, being borderless and censorship resistant currency, more practical to use for gambling.

Topic: Illegal gambling in Asian football increased partly because of crypto? - page 3. (Read 459 times)