Topic: OKX terms of service on gambling (Read 563 times)
Isn't that how all centralized exchanges operate, they warn their customers not to deposit funds from gambling platforms, mixers or CoinJoin transactions, if you do so, they can confiscate the funds and require you do extra verification or provide source of funds. However, i don't know how many people even read these terms of service, they just start using the exchange and they could later make a mistake which could lead to their funds being confiscated.
And by the way there are some casinos that change their deposit address every week how do you think they’ll be able to find out that it belongs to that casino if you’re using a fresh one that they changed it to?
This is also what I want to find out. But what matters isn't the deposit address but the payout or withdrawal address and it seems that most of the exchanges are able to get track of those. If there will be times when someone has successfully moved the funds from here and there, I don't think that it will continue to happen. Just don't be surprised if an email from these exchanges comes to the inbox telling that they're suspending their operations only to you.For sure they know how to deal tracking transaction on where it came from. They have good experience people working in this field so even if there's certain changes of deposit address happen still the result when they investigate it will still the same. So if we know that the exchange like OKX have this term then maybe we should avoid dealing funds came from casinos since we provably might experience bad situation if we ignore those changes they made.
This is how important to read certain updates made by their used exchange is important since from here we would get an update about things that we need to avoid since there's huge chance that we might get compromise if we ignore these updates they implement.
And by the way there are some casinos that change their deposit address every week how do you think they’ll be able to find out that it belongs to that casino if you’re using a fresh one that they changed it to?
This is also what I want to find out. But what matters isn't the deposit address but the payout or withdrawal address and it seems that most of the exchanges are able to get track of those. If there will be times when someone has successfully moved the funds from here and there, I don't think that it will continue to happen. Just don't be surprised if an email from these exchanges comes to the inbox telling that they're suspending their operations only to you.For sure they know how to deal tracking transaction on where it came from. They have good experience people working in this field so even if there's certain changes of deposit address happen still the result when they investigate it will still the same. So if we know that the exchange like OKX have this term then maybe we should avoid dealing funds came from casinos since we provably might experience bad situation if we ignore those changes they made.
This is how important to read certain updates made by their used exchange is important since from here we would get an update about things that we need to avoid since there's huge chance that we might get compromise if we ignore these updates they implement.
And by the way there are some casinos that change their deposit address every week how do you think they’ll be able to find out that it belongs to that casino if you’re using a fresh one that they changed it to?
This is also what I want to find out. But what matters isn't the deposit address but the payout or withdrawal address and it seems that most of the exchanges are able to get track of those. If there will be times when someone has successfully moved the funds from here and there, I don't think that it will continue to happen. Just don't be surprised if an email from these exchanges comes to the inbox telling that they're suspending their operations only to you. 
Yes for me, that's what it means, and if they want to prohibit people from sending funds to their platform from casinos, they should tell it in the right and explicit way, otherwise it's a scam for good will customers. But when you wonder something about policies of an exchange or a casino, it's always better to ask to the customer support before taking some risks. Exchanges and casinos are incorporated offshore usually, so they follow their own rules and they don't care if you disagree with them or you think they are unfair.
If they update their ToS, you will undoubtedly receive an email like the one I attached as a screenshot, in addition to the fact that when you open your exchange platform, you will find a pop-up notification message urging you to read the entire important update carefully. If someone ignores the email notifications and the prompt they see upon logging into their account, the fault lies with him. Anyone using CEX must undoubtedly adhere to its terms, usage policies, and rules, which are updated occasionally. Yes, I agree with that. They can go to the Help Center and request assistance from customer support for more information regarding these inquiries. Whether they ban online gambling or anything else, they are in control of users' funds, and customers have no right to object. If someone doesn't like this, they can simply avoid using their centralized platforms.
They say "use Binance services to" that is to say, they don't want people to send funds directly from Binance to a gambling platform or an adress used for a game.
Does that mean if you send from your gambling account or receive from an address that is connected to a game you will not be going against their ToS? The reason why I asked is because you said on from Binance to a casino address and not the other way around.
And by the way there are some casinos that change their deposit address every week how do you think they’ll be able to find out that it belongs to that casino if you’re using a fresh one that they changed it to?
They say "use Binance services to" that is to say, they don't want people to send funds directly from Binance to a gambling platform or an adress used for a game.
Does that mean if you send from your gambling account or receive from an address that is connected to a game you will not be going against their ToS? The reason why I asked is because you said on from Binance to a casino address and not the other way around.
And by the way there are some casinos that change their deposit address every week how do you think they’ll be able to find out that it belongs to that casino if you’re using a fresh one that they changed it to?
I thought most exchanges (if not all) prohibits gambling related activities - from what I’ve read before I think the main reason they don’t all their account to be associated with anything that has to do with gambling is due to money laundering related.
I just checked Binance ToS and they had the similar thing there - I couldn’t check other exchanges since I’m not able to open their site due to my phone restriction.
But here’s that of Binance.
Binance prohibits transactions from gambling activities? Owh a few days ago I made a withdrawal to Binance and it didn't get any problems, but I saw this condition and I was afraid to withdraw from gambling to the exchange.I just checked Binance ToS and they had the similar thing there - I couldn’t check other exchanges since I’m not able to open their site due to my phone restriction.
But here’s that of Binance.
Why I did that was because I wanted to make it easy to convert to other assets without having to send back.
But it is safest to withdraw to a non-custodial wallet first and then send to CEX, maybe it will be safer than directly to CEX.
Quote
YOUR OBLIGATIONS AND LIABILITY
26. Prohibited use
By opening a Binance Account or carrying out any Transaction, and without prejudice to any other restriction or limitation set out in these terms, you agree that you and any Permitted User will not:
[...]
f. use Binance Services to conduct or participate in lotteries; gambling activities; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; or games of chance;
https://www.binance.com/en/terms 26. Prohibited use
By opening a Binance Account or carrying out any Transaction, and without prejudice to any other restriction or limitation set out in these terms, you agree that you and any Permitted User will not:
[...]
f. use Binance Services to conduct or participate in lotteries; gambling activities; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; or games of chance;
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There have been topics before discussing other exchanges that have similar cases of prohibiting withdrawals or deposits to gambling sites, but I haven't found that thread again.
It's really just about avoiding negative things from happening and I can probably understand the rule because no exchange wants their business to have a bad reputation just because it deals with gambling. Maybe in some countries they don't agree with this rule, but in some countries gambling is prohibited. So the exchange doesn't want to take that risk and avoid things that could destroy the reputation of the business.
Well, I do not think that okx directly prohibits withdrawal from their platform to casino and deposits from the casino to the exchange, like I did mentioned on my previous comment, I was a very frequent user of okx before the stopped operating in Nigeria, and I can't count the number of times I withdraw funds from the exchange to my stake account, and also, several times I deposited directly to the exchange from my stake account after our weekly signature ad payment is received, and never have I ever encountered any issues with the exchange for the several years I was using it.It's really just about avoiding negative things from happening and I can probably understand the rule because no exchange wants their business to have a bad reputation just because it deals with gambling. Maybe in some countries they don't agree with this rule, but in some countries gambling is prohibited. So the exchange doesn't want to take that risk and avoid things that could destroy the reputation of the business.
So personally, I think them adding that line on their terms and conditions simply mean something different from what many of us here is believing it to mean, It could simply be as a way to discourage their users from maybe getting them involved incase of any legal issues that may arise from the uses participation in gambling.
Is this just added? I have gone through their terms of service before but I only used to glance through it and I thought I did not see gambling included.
Alot of reformation happens as time goes on.. I don't even think this is a new one as it's quite clear what they're trying to protect; nobody wants to be labeled a part of some dirty-coin mixing process. Setting rules like this can help to reduce these activitieFrom the terms of service, they kind of see gambling as similar to money laundering is what I think. They included both in the same sections. Do not mind them because the money laundered are always in bank and the money belong to reputed people in the society.
This is how I look at it -- The government is trying relentlessly to blot out the frequent money laundering cases... Question is - how about the unregistered casinos? People could still run their coin through (although any sane person would wanna have a rethink about the risk) but that could just be fine by them.. 
wait wait wait OKX terms of service on gambling OkX create a gambling site or this term of service for depositing money from a gambling site?
It is about everything related to gambling, including deposit from a gambling site.But as far as crypto exchanges though, maybe now they are more strict as to where the money is coming from and they don't want it to be from any gambling sites as those might be used their exchange to wash or launder money.
From the terms of service, they kind of see gambling as similar to money laundering is what I think. They included both in the same sections. Do not mind them because the money laundered are always in bank and the money belong to reputed people in the society. 
I remember seeing flagged cases before but with other exchanges.
Though I doubt any CEx out there has 100% accuracy tech when it comes to detecting gambling trails thus it's safe to assume it can be a hit or miss. But it is always better to err on the side of caution.
There are actually some casino withdrawal wallets that have been marked or have their own name in the withdrawal address, for example if you withdraw from Stake.com casino and you withdraw USDT then the casino may easily detect it because it has a name.Though I doubt any CEx out there has 100% accuracy tech when it comes to detecting gambling trails thus it's safe to assume it can be a hit or miss. But it is always better to err on the side of caution.
Not all casinos have a way like that there are those that are difficult to detect by Cex for the transaction activities we do.
Yeah will always be careful, maybe the best way is to withdraw to your own wallet.
There have been topics before discussing other exchanges that have similar cases of prohibiting withdrawals or deposits to gambling sites, but I haven't found that thread again.
It's really just about avoiding negative things from happening and I can probably understand the rule because no exchange wants their business to have a bad reputation just because it deals with gambling. Maybe in some countries they don't agree with this rule, but in some countries gambling is prohibited. So the exchange doesn't want to take that risk and avoid things that could destroy the reputation of the business.
It's really just about avoiding negative things from happening and I can probably understand the rule because no exchange wants their business to have a bad reputation just because it deals with gambling. Maybe in some countries they don't agree with this rule, but in some countries gambling is prohibited. So the exchange doesn't want to take that risk and avoid things that could destroy the reputation of the business.
But as far as crypto exchanges though, maybe now they are more strict as to where the money is coming from and they don't want it to be from any gambling sites as those might be used their exchange to wash or launder money.
That might be true, but it’s still risky to trust these practices, even if your account seems fine for gambling. The risk of getting blocked is always there, and time will eventually catch up. Sure, creating a new exchange account is easy, but if your account with significant funds gets frozen, that’s a big loss. There are ways to avoid this—if we can’t fully comply, we can at least find alternative methods to gamble without breaking any rules. I’m sure there are plenty of options out there, though I won’t go into details here.
wait wait wait OKX terms of service on gambling OkX create a gambling site or this term of service for depositing money from a gambling site?
They've updated their policy concerning deposits on their site. They are not allowing any deposits from a gambling sites .
If this about deposit then I believe the Binance also had same term of service back before sinbad is seized by the FBI binance also froze the asset that have related with the mixer luckily I am deposit through my own wallet because i don't direct deposit using binanve address
We can understand the mixer thing, I mean as much as we doesn't want to admit, but most of the time there are a lot of bad individuals using tumbler services to their advantage that's why government are really hard on their tracks.
But as far as crypto exchanges though, maybe now they are more strict as to where the money is coming from and they don't want it to be from any gambling sites as those might be used their exchange to wash or launder money.
For people that deposit from gambling site to OKX, do not do that again. It is better you first send the coin to a noncustodial wallet before sending it to OKX.
Isn't this always the case in relation of exchanges (financial KYC required platform) and gambling platforms? For safety reasons, sending from non-custodial wallet is always recommended when sending to exchanges, as well as vice-versa.hero member
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I think that is normal if OKX modify their policy related to the transaction from their members. That is for their safety and ensuring them that their site is not related to the business that they prohibit. And that is clearly said in their ToS that they will not allow the funds come from gambling site and we should obey that by not use OKX to send our funds. Maybe the other exchanges will follow what OKX do so gamblers needs to search for the other ways to send and receive their funds.
wait wait wait OKX terms of service on gambling OkX create a gambling site or this term of service for depositing money from a gambling site?
Yes, that was the update posted in the OP.If this about deposit then I believe the Binance also had same term of service back before sinbad is seized by the FBI binance also froze the asset that have related with the mixer luckily I am deposit through my own wallet because i don't direct deposit using binanve address
Freezing funds is likely the maximum penalty an exchange will impose, especially under the direction of regulators. You can expect them to get stricter when tracing transactions linked to gambling activities because if they don’t, they risk facing fines, or worse, losing their license. No exchange would let that happen due to negligence. 
wait wait wait OKX terms of service on gambling OkX create a gambling site or this term of service for depositing money from a gambling site?
If this about deposit then I believe the Binance also had same term of service back before sinbad is seized by the FBI binance also froze the asset that have related with the mixer luckily I am deposit through my own wallet because i don't direct deposit using binanve address
If this about deposit then I believe the Binance also had same term of service back before sinbad is seized by the FBI binance also froze the asset that have related with the mixer luckily I am deposit through my own wallet because i don't direct deposit using binanve address
That approach didn’t work for me either. I actually tried something similar before - I sent my funds from a casino to a no-KYC exchange, and then transferred them to our local exchange. You know what happened? My funds were forfeited, and my account was blocked because my local exchange flagged the no-KYC exchange as a gambling site. I couldn’t defend myself either because how could I justify using a no-KYC exchange, which is illegal in itself? You can't really argue when the exchange isn’t regulated.
Withdraw the coins from casinos, convert the coins to no KYC exchange, send it to OKX, now there's nothing need to worry. 
Use fiat to buy Bitcoin through a P2P trade.....
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