I wonder what is the difference in bankroll management for exchanges and casinos, of course the casinos also need to keep money and shouldn't use costumers funds for investment (like what Sam did on FTX), do you think the idea of proof of reserves, getting popular right now with exchanges, will happen with casinos too in the future?
For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore. Honestly I think a developed casino should try to expand their casino even though they need to tightening their rules, because people wouldn't really care with KYC as long as the site is really trusted.
Topic: Roobet.com | Crypto’s Fastest Growing Casino 🦘 - page 124. (Read 84471 times)
For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore. Honestly I think a developed casino should try to expand their casino even though they need to tightening their rules, because people wouldn't really care with KYC as long as the site is really trusted.
I disagree. KYC is hated by most crypto investors who are willing to provide it only if absolutely necessary regardless of whether the site in question is popular or not.Agreed with this. One of the main reasons that people play on crypto casinos is to stay anonymous and to not provide KYC. Unfortunately, I think there really is a trend towards KYC from a lot of crypto casinos. As long if the site is reputable, online since a couple of years, than I don't really mind in providing the KYC.
This is the reason why somehow I like the government will get involvement in crypto since since there presence is really helpful if they regulate all the platform which involve money or investment because from this we can lessen up those scams and those people who do crimes will get caught up. Its just we need a heavy penalties like forever those scammers will get in jail for lifetime if they do such crime so that they get afraid to stole millions of dollars to any people online.
This is a bad idea. The government themselves are filled with a plethora of scammers. Also, why do you think they can somehow stop crypto related scams when they cannot even stop FIAT related scams?For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore. Honestly I think a developed casino should try to expand their casino even though they need to tightening their rules, because people wouldn't really care with KYC as long as the site is really trusted.
I disagree. KYC is hated by most crypto investors who are willing to provide it only if absolutely necessary regardless of whether the site in question is popular or not. For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore.
I think the starting point here will be quite different: regulated exchanges with FIAT gateways must be able to prove the (legal) origin of coins. For example, if you win 1 Bitcoin on an unregulated gambling site and want to exchange this Bitcoin for USD later, the Exchanges will refuse to deposit the coin in the future because the origin does not come from a "secure source". European Exchanges such as Bitpanda are already doing this, where the origin of a Bitcoin must be traceable (e.g. not from a mixing-service) and from 100% legal sources, otherwise the deposit will not be allowed.
But why would it matter if the winner is going to sell the bitcoin for USD and then going to pay the taxes for it? It’s big amount you know, one full bitcoin is going to be around 15k at the bottom after fees and all. That is fairly recognisable amount for the tax authorities so the user will declare it on the balance sheet no matter what.
About casino, I’m not sure how they collect the funds in the first place apart from the users depositing in them but they definitely have accountant working for them, I highly doubt they will have any issues with it.
For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore.
I think the starting point here will be quite different: regulated exchanges with FIAT gateways must be able to prove the (legal) origin of coins. For example, if you win 1 Bitcoin on an unregulated gambling site and want to exchange this Bitcoin for USD later, the Exchanges will refuse to deposit the coin in the future because the origin does not come from a "secure source". European Exchanges such as Bitpanda are already doing this, where the origin of a Bitcoin must be traceable (e.g. not from a mixing-service) and from 100% legal sources, otherwise the deposit will not be allowed.
I wonder what is the difference in bankroll management for exchanges and casinos, of course the casinos also need to keep money and shouldn't use costumers funds for investment (like what Sam did on FTX), do you think the idea of proof of reserves, getting popular right now with exchanges, will happen with casinos too in the future?
It is always complicated to manage funds especially funds from customers. A good management must be transparently in regular reports to customers and such reports must be given publicly to everyone.BitDice Robbed Investors? CSNO lost 80% value. Like that one, lack of transparency and people called it as scam.
For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore. Honestly I think a developed casino should try to expand their casino even though they need to tightening their rules, because people wouldn't really care with KYC as long as the site is really trusted.
Every platform works with fund-raising, capital from customers must be regulated one way or another. Because casinos must have licenses to operate legally, more regulations on how they use customer funds will be approved and applied in future.Casinos with good CVs about that will get high Trust scores in gambler communities and I am so sure that it is good for their business.
I wonder what is the difference in bankroll management for exchanges and casinos, of course the casinos also need to keep money and shouldn't use costumers funds for investment (like what Sam did on FTX), do you think the idea of proof of reserves, getting popular right now with exchanges, will happen with casinos too in the future?
For big and regulated casino, it will happen in the future. While the small and unregulated casino, they're easy to avoid to get regulated until they make huge cash flow and get a radar from governments, so in the end they can't hide it anymore. Honestly I think a developed casino should try to expand their casino even though they need to tightening their rules, because people wouldn't really care with KYC as long as the site is really trusted. 
That's not going to happen anymore, no. The regulations for crypto are getting stricter and stricter all over the world, and this not only affects casinos but also exchanges. Exchanges must, for example, demand proof of origin for the deposited coins, if, for example, larger quantities come from unregulated casinos, they must not allow them to be deposited (and exchanged for USD, for example), otherwise they make themselves liable to prosecution.
In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
That's true. Recent debacles like the FTX crash and the Terra-LUNA crash made things worse for the cryptocurrency market on the whole and these are just a couple of reasons as to why regulations will keep increasing over time.In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
above that with all the bad things happening involving huge funds been stolen or been used up or some issues then its not really surprising that government would really make out some involvement which it isnt
really that totally surprising if one day that majority of these platforms would really be asking out for some verification first before you could make out an account and make out deposits.
Its true that gone are the days on which we could gamble out freely or without having that much restriction for whatever the amount would it be.
This is the reason why somehow I like the government will get involvement in crypto since since there presence is really helpful if they regulate all the platform which involve money or investment because from this we can lessen up those scams and those people who do crimes will get caught up. Its just we need a heavy penalties like forever those scammers will get in jail for lifetime if they do such crime so that they get afraid to stole millions of dollars to any people online.
That is definitely a way some other places do as well, I do not want to name roobets competition here, but having a higher house edge but bigger returns do work, it has worked for so many other companies as well.
Even the biggest names in the crypto casino world is now doing it, the old way was just having a regular old boring dice game where you would have 1% house edge, and some even dropped that, and did like 0.5% or lower and people got bored of that quickly because you only had gambling and nothing else. Nowadays, I can gamble at roobet on a 5% house edge game for example, and lose some chunks back to back, but then get a huge amount all at once if I win something.
I think the bigger returns and rewards to people is a great deal that helps too many people as well. I guess people saw that they can't win any other way on regular 1% house edge boring casinos, and said might as well lose bigger here with a chance to make it back a lot bigger as well. Art competition is irrelevant in that regard because no matter how much you gamble, that's not coming to gamblers, it's going to artists.Even the biggest names in the crypto casino world is now doing it, the old way was just having a regular old boring dice game where you would have 1% house edge, and some even dropped that, and did like 0.5% or lower and people got bored of that quickly because you only had gambling and nothing else. Nowadays, I can gamble at roobet on a 5% house edge game for example, and lose some chunks back to back, but then get a huge amount all at once if I win something.
But, aside from that there are so many promotions that makes people win so much money that it's going to be fine in the long run for people to just enjoy gambling and the possibility of making tens of thousands as a reward if they are lucky.
That's not going to happen anymore, no. The regulations for crypto are getting stricter and stricter all over the world, and this not only affects casinos but also exchanges. Exchanges must, for example, demand proof of origin for the deposited coins, if, for example, larger quantities come from unregulated casinos, they must not allow them to be deposited (and exchanged for USD, for example), otherwise they make themselves liable to prosecution.
In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
That's true. Recent debacles like the FTX crash and the Terra-LUNA crash made things worse for the cryptocurrency market on the whole and these are just a couple of reasons as to why regulations will keep increasing over time.In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
above that with all the bad things happening involving huge funds been stolen or been used up or some issues then its not really surprising that government would really make out some involvement which it isnt
really that totally surprising if one day that majority of these platforms would really be asking out for some verification first before you could make out an account and make out deposits.
Its true that gone are the days on which we could gamble out freely or without having that much restriction for whatever the amount would it be.
That's true. Recent debacles like the FTX crash and the Terra-LUNA crash made things worse for the cryptocurrency market on the whole and these are just a couple of reasons as to why regulations will keep increasing over time.
Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
To be fair FTX is regulated, but the regulation isn't really strict, so when it goes wrong FTX doesn't have any way to recover their losses and become bankrupt. So it's really depends on where the regulation is and what are the rules need to comply.Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
Roobet is regulated but it doesn't really strict, a fully regulated casino will ask to submit complete KYC verification during registration.
So it's really depends on Roobet's team if Roobet become very huge casino that could compete with popular fiat casino.
I wonder what is the difference in bankroll management for exchanges and casinos, of course the casinos also need to keep money and shouldn't use costumers funds for investment (like what Sam did on FTX), do you think the idea of proof of reserves, getting popular right now with exchanges, will happen with casinos too in the future?
Yes, it was really funny. I used to watch those live streams and participated on the contests, although I didn't win much back then but I enjoyed it.
I don't think we will see any gambling content on twitch anymore. That sucks because it's one of the best platforms when it comes to streaming and interaction between the streamer and the viewers.
Never used twitch much which is why I have no idea about any of these contests, but I feel that YouTube is a way better platform for streamers and viewers in comparison for obvious reasons despite all their restrictions.I don't think we will see any gambling content on twitch anymore. That sucks because it's one of the best platforms when it comes to streaming and interaction between the streamer and the viewers.
AFAIK, Twitch is the choice of many game streamers compared to Youtube. They use Youtube only for reposing their content on it, while for live streaming they go on Twitch. Though, do YOutube does even allow gambling content? If so, how does the monetization for the creators? it seems Youtube is not favouring gambling content.
There's many promotions by Roobet for streamers to gain a lot traffic, as we know those live streaming site isn't big like Twitch.
After the twitch gambling ban there are other alternatives which streamers and other sites have to look for and this is why Roobet is encouraging it with such big rewards and attract people as well as streamers to this platform.They will gain users with their marketing strategy and exciting rewarding scheme so hope it goes well for them and us players also.Both Trovo and Dlive seem the current platform choices for many gambling streamers. As far as I can see, Dlive did not have any strict gambling content restrictions, as on their Service Guidelines:
Quote
Whether you may stream gambling games online (eg: Online Poker, Online Blackjack) depends on the laws and regulations of the country you are streaming from or where the stream is received, accessed, or viewed.
But for Trovo, there is a restriction about gambling but it's not quite clear of what it meant since there is some gambling content on the platforms.
Prohibited Conduct: You agree not to use the Trovo Service (or attempt to use the Trovo Service) in a way that harms any other User, Trovo or any third party or in a manner that violates any applicable laws. In particular, you agree not to (and not to attempt to) do any of the following:
Use the Trovo Service for gambling (even if gambling is legal in your jurisdiction);
Use the Trovo Service for gambling (even if gambling is legal in your jurisdiction);
That's true. Recent debacles like the FTX crash and the Terra-LUNA crash made things worse for the cryptocurrency market on the whole and these are just a couple of reasons as to why regulations will keep increasing over time.
Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
To be fair FTX is regulated, but the regulation isn't really strict, so when it goes wrong FTX doesn't have any way to recover their losses and become bankrupt. So it's really depends on where the regulation is and what are the rules need to comply.Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
Roobet is regulated but it doesn't really strict, a fully regulated casino will ask to submit complete KYC verification during registration.
So it's really depends on Roobet's team if Roobet become very huge casino that could compete with popular fiat casino.
There's no strong law regarding on cryptocurrency so anyone can get away with the crimes they do so what happen to FTX might also happen here and to any other reputable platform. But for now I don't believe this will happen here since they are huge and can earn huge money for continuously running this business. What happen to FTX might not happen to other since it will all depend if the owner is so greedy or not.
That's true. Recent debacles like the FTX crash and the Terra-LUNA crash made things worse for the cryptocurrency market on the whole and these are just a couple of reasons as to why regulations will keep increasing over time.
Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
To be fair FTX is regulated, but the regulation isn't really strict, so when it goes wrong FTX doesn't have any way to recover their losses and become bankrupt. So it's really depends on where the regulation is and what are the rules need to comply.Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
Roobet is regulated but it doesn't really strict, a fully regulated casino will ask to submit complete KYC verification during registration.
So it's really depends on Roobet's team if Roobet become very huge casino that could compete with popular fiat casino.
That's not going to happen anymore, no. The regulations for crypto are getting stricter and stricter all over the world, and this not only affects casinos but also exchanges. Exchanges must, for example, demand proof of origin for the deposited coins, if, for example, larger quantities come from unregulated casinos, they must not allow them to be deposited (and exchanged for USD, for example), otherwise they make themselves liable to prosecution.
In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
That's true. Recent debacles like the FTX crash and the Terra-LUNA crash made things worse for the cryptocurrency market on the whole and these are just a couple of reasons as to why regulations will keep increasing over time.In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
Despite these issues, it's good to see more and more new, legit crypto gambling sites emerging.
Hope they would really be able to impose such stuffs and trying out to get rid out of these regulation and other similar stuffs. Come to mind off wayback on previous years where gambling in crypto space isnt really
-snip-
That's not going to happen anymore, no. The regulations for crypto are getting stricter and stricter all over the world, and this not only affects casinos but also exchanges. Exchanges must, for example, demand proof of origin for the deposited coins, if, for example, larger quantities come from unregulated casinos, they must not allow them to be deposited (and exchanged for USD, for example), otherwise they make themselves liable to prosecution. -snip-
In my opinion, the rather relaxed times of online crypto casinos are over and will not come back.
The gambling industry is changing at a very fast rate in both promoting the business and also
adding more fun into it. I am not sure but definitely it is crypto space that has given more wings to it. First there were a lot of restrictions while using the gambling sites. You were not able to pay with the cards, had border payment restrictions, paypal always sucked, other payment
processors were not up to the market and more chances of scams were there.As soon as crypto bloomed, so as to crypto based casinos. Roobet obviously did an amazing job putting it as a two way business approach. There is a large community who even love the Roobet name in a positive way now. Everyone has favorite casino's, I guess Roobet is one of them for me
adding more fun into it. I am not sure but definitely it is crypto space that has given more wings to it. First there were a lot of restrictions while using the gambling sites. You were not able to pay with the cards, had border payment restrictions, paypal always sucked, other payment
processors were not up to the market and more chances of scams were there.As soon as crypto bloomed, so as to crypto based casinos. Roobet obviously did an amazing job putting it as a two way business approach. There is a large community who even love the Roobet name in a positive way now. Everyone has favorite casino's, I guess Roobet is one of them for me
Yeah, I would agree with that. The introduction of cryptocurrency and decentralization to online gambling really gave people a bit more breathing space. Gambling had way too many regulations and silly rules which made gambling not very fun at all. But with crypto as a payment system and a smart contract underneath, casinos can automate their business and throw many annoying, outdated regulations out of the window by force.
that totally stressful or something you do mind about regulation since you could totally play with ease without having minding about possible kyc just because you had done something which leaving
you no choice but to comply with it or else your funds would be locked up. So far we are still on a situation where it isnt really that too strict where verifications are compulsory.
You could still have the option or choices whether you would comply it or not.
The gambling industry is changing at a very fast rate in both promoting the business and also
adding more fun into it. I am not sure but definitely it is crypto space that has given more wings to it. First there were a lot of restrictions while using the gambling sites. You were not able to pay with the cards, had border payment restrictions, paypal always sucked, other payment
processors were not up to the market and more chances of scams were there.As soon as crypto bloomed, so as to crypto based casinos. Roobet obviously did an amazing job putting it as a two way business approach. There is a large community who even love the Roobet name in a positive way now. Everyone has favorite casino's, I guess Roobet is one of them for me
adding more fun into it. I am not sure but definitely it is crypto space that has given more wings to it. First there were a lot of restrictions while using the gambling sites. You were not able to pay with the cards, had border payment restrictions, paypal always sucked, other payment
processors were not up to the market and more chances of scams were there.As soon as crypto bloomed, so as to crypto based casinos. Roobet obviously did an amazing job putting it as a two way business approach. There is a large community who even love the Roobet name in a positive way now. Everyone has favorite casino's, I guess Roobet is one of them for me
I think we are still a long way from perfection or at least being free to play in an online casino without too many problems, governments need to correct certain things in this KYC issue, I also think that online casinos need to hire lawyers and get licensed in countries which has a great reputation in the world, for example if Roobet.com in the future manages to have a license in countries like the USA and countries of the European Union, manage to at least have a physical office in the real world, manage to sponsor things in the real world then the casino will be at the top of the tops in the matter of surpassing all other casinos
I know this is not an easy task, but crypto and online casinos need to take big steps if they want us to see this online casino market being much more respected in the future than it is today, it's no secret that we still have to deal with so many cases today. of scam casinos that this just dirty the image of online casinos and all casinos only have licenses from curacao, they cannot have a license from countries with tough laws because they still cannot comply with the requirements that these countries with tough laws impose to obtain licenses
The gambling industry is changing at a very fast rate in both promoting the business and also
adding more fun into it. I am not sure but definitely it is crypto space that has given more wings to it. First there were a lot of restrictions while using the gambling sites. You were not able to pay with the cards, had border payment restrictions, paypal always sucked, other payment
processors were not up to the market and more chances of scams were there.As soon as crypto bloomed, so as to crypto based casinos. Roobet obviously did an amazing job putting it as a two way business approach. There is a large community who even love the Roobet name in a positive way now. Everyone has favorite casino's, I guess Roobet is one of them for me
adding more fun into it. I am not sure but definitely it is crypto space that has given more wings to it. First there were a lot of restrictions while using the gambling sites. You were not able to pay with the cards, had border payment restrictions, paypal always sucked, other payment
processors were not up to the market and more chances of scams were there.As soon as crypto bloomed, so as to crypto based casinos. Roobet obviously did an amazing job putting it as a two way business approach. There is a large community who even love the Roobet name in a positive way now. Everyone has favorite casino's, I guess Roobet is one of them for me
Yeah, I would agree with that. The introduction of cryptocurrency and decentralization to online gambling really gave people a bit more breathing space. Gambling had way too many regulations and silly rules which made gambling not very fun at all. But with crypto as a payment system and a smart contract underneath, casinos can automate their business and throw many annoying, outdated regulations out of the window by force.
Yes, it was really funny. I used to watch those live streams and participated on the contests, although I didn't win much back then but I enjoyed it.
I don't think we will see any gambling content on twitch anymore. That sucks because it's one of the best platforms when it comes to streaming and interaction between the streamer and the viewers.
I have watched streams many times on twitch but have not participated in the contest and know there were some rewards for the viewers also as they have sponsorship deal to give them away to the audience and it was all good but twitch decision to ban gambling was shocking for all as they have so many reports against it but hope we have another platform like it but in more decentralised manner. I don't think we will see any gambling content on twitch anymore. That sucks because it's one of the best platforms when it comes to streaming and interaction between the streamer and the viewers.
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