Topic: Information of Crypto Casinos License and KYC requirements - page 4. (Read 5131 times)

Yeah that is Malta license and the annual fees is a bit expensive compare with the Curacao, but dont forget about the other expenses when the platform decided to choose Malta gambling license than the others.
There is an additional taxes and its up to annual revenue of the platform, more profits = bigger the taxes.

Not easy to get this license, they are very strict and takes time (months) also you have to fly to Malta, not like other licenses where you can apply online.
The casino also must report the audit of the software periodically and you have to incoorperate with the local company there because the hardware and software must be located in Malta.
KYC, underage, restricted countries, fairness, etc are important matters for them (MGA/Malta Gaming Authority).
So any platform with Malta license will be very strict on everything.

These only some of the basic requirements, we havent talks about the other complicated requirements to obtain the license, Im not an expert but this might answer the question why most of the crypto casino using Curacao license than the Malta license.

@Sunderland

thank you very much again for this helpful info. good to know that there is someone like you with this knowledge regarding online gambling licenses.

@:Youngkhngdiddy

you wrote: - Class 1 license – this license covers casino-type games, skill games, and online lotteries

I thought skill games don't need a gambling license. any idea or info on that? I am asking as I am right now working on a 10 card rummy skill game

cheers

This is an excellent article regarding licensing processes. I did not know there are only 4 licensing authorities that hold at most importance throughout the globe and gambling licensing issuance. So is it like if a casino is from let’s say Indian base but it holds license from any of the listed masters then it’s fine for all over the world? Like it doesn’t matter if Indian authority if any has issued the license or not? I know it’s weird question but it’s important in many senses. For example, there are casinos out there who claims to be holding licenses issued by other countries authorities rather than their own. So it makes questionable whether it is valid for the locals or not. In India gambling is still illegal however somehow we are not in the ban country list when it comes playing games around foreign gambling sites. Not sure how that works?

But they do accept our government issued IDs so those master licenses are accepted here?

  Choosing the right location for an online casino business is certainly one of the most important steps when planning to open an online casino. One of the most popular and respectable destinations is Malta, with online gambling being the fastest growing industry. When planning to establish a business within the EU, Malta is usually one of the first choices to consider. This is due to a number of benefits, such as favorable tax rates or no profit tax for players. Maltese online gambling license is considered to be highly reputable.
In regard to the question, one can obtain four different licenses and they are divided as follows:
· Class 1 license – this license covers casino-type games, skill games, and online lotteries
· Class 2 license – covers fixed odds betting, spread betting, and pool betting
· Class 3 license – this license covers betting exchanges and peer to peer gaming
· Class 4 license – intended for software vendors, B2B license
   The annual fees for each of these licenses are different (from 10.000 EUR to 25.000 EUR).
Malta Gaming Authority (MGA) is the responsible authority for regulating the licensing procedure, as well as for issuing licenses. The overall process of applying for and obtaining a license in Malta is not complicated. However, it is advisable to do this with the help of a local expert in this field who will be able to assist with every detail.

Last year it cost less than $7k, with tax and other administration fees still less than $10k in total for the 1st year.
But there are still other fees depends on the agreement between the casino operator and the 3rd party company/firm who handle the registration of the license.
There are 2 licences but I forgot the other one, and its a bit expensive from the one above.

Costa Rica license is cheaper than Curacao, many new casinos will choose Costa Rica because it can save -/+ 50% of their expenses for the license yearly.

thanks again, very much appreciated

do you also know the cost such a temporary solution?

cheers

Np mate, I ever worked for some casinos in the past and knew a bit how it works from the inside.

Back to the topic, any casinos with that license is consider valid and legal and they can operate with it but maybe not easy to solve any dispute (the legal way) between player and casino with the Costa Rica "data processing license" for now, not until the Costa Rica gov regulated a real gambling license there.

very interesting info, thanks for that!

how comes that you are familiar with this kind of way to get a so called license? if I may ask

for me it looks like that Blackjack.fun has no valid license

cheers

Yep Costa Rica gambling license actually does not exist, however the casino operators may incorporate a Costa Rica gaming company who have a "data processing license" (lol).

So its not a real gambling license such as Curacao, Malta and else but still consider as legal by the Costa Rica gov.

Well the Gov doesnt care about it as long as the casino operators pay the taxes and not allowing Costarican to play on their platform, also the operators only allowed to do any transaction via crypto not fiat or other cash payment system.

What I mostly care about is using a reputable casino that is real and have good games I can bet on without any problem or KYC issues. Many gamblers these days do not care about KYc except those ones that had been in the gambling industry for a very long time. We should also be prepared to use good site that would not steal from us or deceived us just like many casinos that are available online. There are also many casinos online that are not licensed but keep claiming that they are a licensed casino.

This is quite comprehensive enough to build a database out of it. It gives me clue as to which and what to commit when using these Casinos.

It also reminds me that due diligence must be done subsequently, when considering any casino to engage in gambling. Imagine committing resources to casino you know very little about just because you perceive that they have possible wins only to find out that they have compliance issues.

Nitrobetting is one of the safest casinos of all. They have 0 scam accusations in the last year. Their ANN thread was started May 2021 with no red marks. Some of the casinos you have on the list have up to 15 open scam accusations in 2023 alone. All scam accusations are filtered here by book https://bitcointalksearch.org/topic/1-ratings-of-bitcoin-sportsbooks-since-2014-kyc-rankings-bonuses-scam-accus-717790 for 2023

you should not only read, but also understand what is written. and if there is any doubt, you should ask if you want to handle it in a fair way. but you are just taking sides, and that is not fair. I love fairness.

Since I have no bad conscience and have not abused the exploit, I will tell you and anyone interested in my scam accusation how it was.

Please try to understand what I am saying and not what you want to understand, let me do it for you ELI5.
When I found a similar bug/glitch that a user was using against me at the table, I reset the timer again and again and again and again with the same hand. Now you will ask why? because the guy who used it against me was at the table with me. if he complained then logic tells me that he did not use the glitch on purpose and if he did not complain then he was aware of the glitch.
now why did i not report it immediately? why should i? it was not the same glitch the other user used. so I wanted to find the one he used and reproduce it. this is the way I work. by the way it was a free roll of 1 USDT LOL yeah I wanted to win another 100 free rolls by using this glitch. get real man!!!!

as for my scamming accusation just let the members decide and not you alone and not the blackjack fun owner the cheap scammer

You should have reported the bug immediately instead of using it several times. It would have been enough to reset the timer one time with screen recorder on without repeating it many times. Based on the terms, Blackjack.fun reserves the right to verify your identity (KYC process) at any time. What you have done was suspicious from their view, which has triggered the mandatory KYC on your account.

Moreover, there are several casinos operating with a company registered and located in Costa Rica. Maybe Casino Guru didn't consider it as a license as the Costa Rican gambling license doesn't exist. Most probably you won't receive enough support from the Bitcointalk community on your scam accusation thread against Blackjack.fun.

Thank you for your reply and information. I appreciate it very much.
I will try to open a scam accusation here in the bitcointalk subforum - Scam Accusations-.

I will try to give you a brief explanation of what happened.

Sorry that it was longer than I thought

I'm quite an expert in almost every game and I love blackjack. So you went to Blackjack Fun and saw that they were offering free blackjack tournaments. I found a lot of bugs and glitches. So every bug I found I reported those bugs in their thread. so everyone can see and read that I only wanted to be helpful. the OP even thanked me and started to offer some incentive for everyone who will report bugs.
I found a bug that I did not report because I was trying to reproduce it when a player used this glitch against me on the table, maybe by accident or on purpose. I did not report him and the glitch. then I found the glitch that gives the option to reset the timer. so I reset the timer many times to be sure it was the glitch.

A few days ago, when I wanted to go to the site to play, I only got the KYC page and could not go to any other place of the site.
I PMed the OP and asked for my username. if I were a scammer or cheater to exploit this glitch would I give him my username? NO
and by the way, those free rolls have a prize of 1 USDT. I told him my username at the tables and he said ahhh some players reported me as I was resetting the timer. oh I forgot to say he even invited me to a 200USDT invitation only tourney to show his appreciation. I asked him to let me back on the site but he told me to fill out the KYC. I told him why that? I had 23-24 USDT in my wallet from the free rolls and I did not even ask for a withdrawal so why do I need to KYC? so I did not do the KYC.
Result is that I understood that he misused being kind and helpful and even would not give me the chance to withdraw the 23-24 USDT. I was never in for the money, so I offered that he send the money to someone who a legendary user can point out as a donation.

Therefore I decided to open a scam accusation and even will if it does not help that he will come down from the tree to inform the games providers.

Cheers

BTW I found this site claiming Blackjack fun weekly giveaway $50k 
https://partnersofblackjack.fun

The company 'Satya Code SRL' is located in Costa Rica. In reality, there is no existence of Costa Rican gambling license. And there is no company registered under Curacao with the registration number of Blackjack.fun license operator. However, Blackjack.fun used to have a license validator link from Curacao, but it isn't available since last few months. BTW, in which type of scam accusation thread you want to include this information?

hello

thanks for the listing. very helpful

as I have a problem right now with Blackjack.Fun I checked your list and found this

BlackJack   |   Yes*•   |   Satya Code SRL

means they are licensed in Curacao

I found a website saying Blackjack.fun Casino is operating without a valid license.

the link to the site is https://casino.guru/blackjack-fun-casino-review

maybe OP or someone else can tell me how to find out if it is true that they are operating without a valid license? I want to be sure that this is true before I will write it in my soon coming Scam accusation thread.

any help is very much appreciated

cheers

Well there are people who do not know stake.com in its entirety and all its possible things they can do, connections and everything they have scope, just establishing themselves in the USA with stake.us is something very significant, we are the person who when We see that some friends are in the USA, the majority say that they do not have access to many casinos, because of a ban that there is, the truth is that stake.us has resolved so if the scope of stake.com they believe that they are not enough, I don't think that The name may be enough for some people, but personally, I think that stake.com has so much potential that when I release something related to poker, I'm sure that the majority of the Bitcointalk community will go there, because I've seen that there are almost not many sites that make poker relevant and this is something that not everyone knows, and generally the people are very receptive, I personally would like a poker platform where all the time, 24 hours a day, it would be open to possible tournaments or make poker blitzx with PVP mode.

If in the past some casinos have achieved it, but they were not able to maintain themselves, I think this is a good option to do it, I have also seen that poker has lost its essence in terms of the motivation of the players, and many times it is because there are slots, which is very exciting, but I consider that poker has much more scope, in fact many famous chess players are going to specialize in poker, because they can say that the same mental strength that they apply thinking about chess can fly with poker because that way they win more money, and it is understandable, of course you need to have a lot of experience in poker to become an expert, I love poker, but as I see that there is a lot about this game in the casinos, well it is something that is lost, I think that stake.com will bring back that fever for poker, and since they are they must be putting together a great infrastructure to stay entertained all day long with just playing poker.

Thank you for the suggestions. Most of your suggested sportsbook doesn't have any ANN thread in Bitcointalk forum. I don't add those casinos and sportsbooks who doesn't have an ANN thread in Bitcointalk forum. I have ignored Nitrobetting as their old representative has a bad reputation in the forum. Wintomato was having some issues when I had checked them to add in the list, that's why they aren't in the list. BK8btc is already in the list, I might consider about Moonbet on the next update.

Good to see the thread updated with the latest possible information which will be surely helpful for everyone to determine the KYC requirements while choosing their casino and whoever registers on a casino should read the Terms and conditions and only agree if you are sure about it.

Failure to do it causes a lot of misunderstanding between users and casinos at later events.