Disclosure: I am founder and CEO of Oshi
I presume these are the questions you wanted answers on?
Question: Do they regulate Direx N.V. the same way like they regulated the Full Flush Poker scam who embezzled over $1 million?
Answer: I'm not going to give a simple answer because that wouldn't give the question justice... So please bear with me.
Crypto currency casinos by the nature allow for a degree of anonymity. If a casino is licensed in the UK or Malta for example there are stringent know your customer regulations that the operator must adhere to. If a player wants to be anonymous, then they should never register with a casino from a regulated jurisdiction such as the UK.
Curaçao is known for being a laissez-faire regulator. In other words they do get involved in player arbitration but the whole they keep a low profile. They do not have a substantial tax take as the more regulated jurisdictions do and so they put in a commensurate amount of effort to monitor brands using their licence.
In short that's why most crypto currency casinos are in fact on Curaçao licences. I.e. Curaçao are comfortable with the ambiguity of crypto casino. When/if Malta enacts more progressive legislation around crypto casino operators, you will see many of these brands migrate to Maltese licences. When that happens, who knows.
Therefore when you evaluate any crypto casino, you should do it through crowd sourced opinion. This is one of the reasons forums is like this, along with ask gamblers and a few other affiliate's who have decent bodies of crowd sourced opinion, are so important in this ecosystem. Through crowd sourced opinion, you can pretty balanced view of any operator.
As far as it goes with embezzlement and so on (referring to the poker case) , my advice is always; don't leave too much money in any casino account.
Question: (I'm paraphrasing this based on various questions on this thread around terms and conditions) why do casinos have predatory terms and conditions that no one reads or understands?
Answer simply its risk avoidance. Believe it not, any casino operator or any other operator is not really seen as a service provider, more as an adversary. In other words if you win, you win from the house. Also operators giveaway bonuses and bonuses are open to abuse. As an adversary, rather than a loved provider operators get a huge amount of bonus abuse which is why bonus terms and conditions are so onerous.
The exceptions are models like exchange betting and crypto dice games..
If operators are relatively unscrupulous, they let people fall into a trap, operators allow people to burn their cash and they want to cash out winnings, they cite terms and conditions. Think of the insurance sector, and labyrinthine terms and conditions
I don't like that kind of behaviour and that's why I spent a lot of money on reviewing our terms and conditions to make them as watertight, fair and understandable as possible. Obviously we have legal English which is critical, because allows us to concisely map out any given situation but, we also have plain English versions of each term or condition that make it much easier for people to understand what you're actually saying.
For example
https://oshi.io/help/tcs and
https://oshi.io/bonuses/tcsexample: Cashout fees and taxes are your responsibility.
4.0 (Plain English) If you win money on this Website and you cash it out, it is up to you to pay all fees and taxes within your own country.
4.0 (Legal English) The player is fully responsible for paying all fees and taxes applied to their winnings according to the laws of the jurisdiction of player's residence.
Money laundering and know your customerI may have talked about this before, but it's worth repeating in any case. As a crypto casino, we want people to enjoy anonymity but we have to respect money-laundering legislation. That means when there are either big transactions coming in or big cash outs being generated and they trigger a 'flag' generated by our algorithms, we have to do a 'know your customer' check. If we find somebody is from a jurisdiction we cannot accept customers from, we will always return their deposit and withhold winnings. I don't know whether other brands will always return deposits or not, but we do.
The whole 'anti-money laundering/pseudo-anonymity/crypto) situation is a bit grey and I don't like it but it is the nature of crypto casino and we do our best to respect the law, along with any licensing obligations we are asked to meet.
I hope that helps and clears up any questions. I will be hanging out here bit more so please ask away and I will do my best to answer every question in my usual straightforward way.
Nick