Sending BTC from Gambling Site to Binance?

boyptc

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Quote from: noormcs5 on July 30, 2019, 10:11:14 AM

There should be no issue in sending the money from Binance to the gambling side or vice versa. Binance should have no problem of where the money is coming from. Also I think they won't be able to know from where someone have send them the Bitcoin to the binance site.

They can.

They wouldn't create a rule if there's no way for them to track or block addresses that has bad history on their records.

joniboini

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Quote from: noormcs5 on July 30, 2019, 10:11:14 AM

Also I think they won't be able to know from where someone have send them the Bitcoin to the binance site.

Binance is and able to block deposit if the source address is related to some malicious activity such as hacking. They share a database or build their own database of hacking-related incidents and then they'll block the addresses associated with that incident to prevent hackers from liquidating illegal money.

I'm pretty sure they could also block your deposit from gambling site if they decided to do so, or for any reason. After all, they're centralized.

noormcs5

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Quote from: FFrankie on July 19, 2019, 05:52:26 PM

Why not just read the terms and conditions and see? If it's okay for them to accept gambling deposits what about sending deposits to a gambling site from binance ?

There should be no issue in sending the money from Binance to the gambling side or vice versa. Binance should have no problem of where the money is coming from. Also I think they won't be able to know from where someone have send them the Bitcoin to the binance site.

Johnzky

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Quote from: abs350 on May 30, 2019, 03:06:46 PM

I never had a problem with that. I think you should change something.

Change what?what is that something?better clear things because you are not hello or something lol

I cannot contribute because never tried once but I have read spin some thread that this is possible and encountered any issue

Because I use local wallet so from gambling site directly to my wallet

ethereumhunter

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Quote from: jerry0 on May 30, 2019, 02:29:00 PM

Does anyone know if there is any issue with this?
Can someone here confirm if there is any issue sending btc from a sportsbook to binance?
Has anyone done this and if so, anyone ever had an issue with this?

I don't have any experience to send the btc from gambling site to binance because, in the past, I don't have any problem to send the bitcoin into poloniex which is very popular in the last two year. I think you can try to use bitcoin mixer first and then send it into binance and I think that will be fine. So far, I don't hear any issue about that, and I think that is fine to send bitcoin into binance or other exchanges.

milewilda

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Quote from: mersal on July 29, 2019, 02:01:47 PM

Quote from: ?? on ??

Quote from: jerry0 on May 30, 2019, 02:29:00 PM

Does anyone know if there is any issue with this?

Can someone here confirm if there is any issue sending btc from a sportsbook to binance? Someone a while back mentioned there is nothing in the TOS against it. I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.

Has anyone done this and if so, anyone ever had an issue with this?

No, i am sure, that there is no issue in it. Binance has a simple system and Binance has no interest in it that where your money come from. It is just amount transfer. So you could do it easily, and i suggest you, you should try it then you will get your answer.

I know coinbase doesn't allow transactions from gambling sites but not sure about the binance yet.

But always we need to keep moving our funds from our wallets,if we are doing from third pary wallet to another third party wallet we may face issues if there is problem on the transaction getting confirmed.

Binance doesnt have restrictions on where those funds came from even on a Gambling site.I do agree with your point that we should first transfer our funds into our own wallet like Electrum and
other similar before sending out to Binance- Direct 3rd party to other do really have the tendency of such deposit would be be credited.

mersal

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Quote from: jerry0 on May 30, 2019, 02:29:00 PM

Does anyone know if there is any issue with this?

Can someone here confirm if there is any issue sending btc from a sportsbook to binance? Someone a while back mentioned there is nothing in the TOS against it. I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.

Has anyone done this and if so, anyone ever had an issue with this?

No, i am sure, that there is no issue in it. Binance has a simple system and Binance has no interest in it that where your money come from. It is just amount transfer. So you could do it easily, and i suggest you, you should try it then you will get your answer.

I know coinbase doesn't allow transactions from gambling sites but not sure about the binance yet.

But always we need to keep moving our funds from our wallets,if we are doing from third pary wallet to another third party wallet we may face issues if there is problem on the transaction getting confirmed.

michellee

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I think there is no problem if you want to send from gambling site to binance or other exchange. As long as you can have the right wallet address, you can send the amount to that wallet. But yes, sometimes you should check on the TOS so you can find more information about depositing the bitcoin to them and you don't get any trouble.

panjul07

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Before sending bitcoin to an exchange from a gambling related service or vice versa, it is always better to make sure that there is no rules which is against gambling activity on the exchange. If the exchange is not against gambling activity then it is obviously OK to send or receive bitcoin from gambling related services. How to know whether an exchange against gambling activity or not? Simply by reading the Terms of Service or FAQ page of the exchange. Better to safe than sorry later, so reading the terms of service is recommended once you want to use any services.

emberbekas

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Quote from: robelneo on July 19, 2019, 08:53:45 AM

I don't see any issue sending from a gambling site to an exchange, as long as both sites are legit and there is no issue it will arrive on that wallet from one wallet, I have not read any report that Binance does not accepts wallets from a particular site.

Yes, as my experience, I have never faced a problem when sending my cryptos especially bitcoin from gambling sites to binance. I think OP just wants to make sure he won't get a problem related this stuff.

Hippocrypto

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If you're legit user of binance, I think that's not a problem upon sending an amount of btc from gambling site going to binance. Please make sure to have the correct btc address to be used for sending going to binance. Just use small amounts first for testing, and then if no circumstances will occur you could do it by same procedures.

Polar91

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Quote from: jerry0 on May 30, 2019, 02:29:00 PM

Does anyone know if there is any issue with this?

Can someone here confirm if there is any issue sending btc from a sportsbook to binance? Someone a while back mentioned there is nothing in the TOS against it. I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.

Has anyone done this and if so, anyone ever had an issue with this?

I have done it and there is no issue occurs in my Binance account perhaps because it's not that huge. It's a different story if we are talking huge amount of money. Binance is against money laundering thus it's their responsibility to lock an account that is connected to suspicious activity.

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Quote from: Zicadis on July 22, 2019, 02:41:24 PM

Most countries consider gambling winnings tax-free, otherwise people would be able to claim tax-relief for their losses.

Fair enough, government should act like that, they should be taxing the gambling sites as it's easier for them to do.
What I know, only lottery winnings are tax free but personally, I don't remit taxes on my winnings because I don't win all the time or even most of the time.
Government are so desperate if they tax the losers (which is us), gambling would not be fun anymore especially for small gamblers like us.

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Quote from: FFrankie on July 19, 2019, 05:52:26 PM

Why not just read the terms and conditions and see? If it's okay for them to accept gambling deposits what about sending deposits to a gambling site from binance ?

Sadly, nowadays people are too lazy to do that. You are hoping something which unlikely happens

Quote from: Dread Pirate Roberts on July 22, 2019, 02:50:19 PM

I think it's normal that shouldn't be a serious problem because basically you can check the status of the transaction from blockexplorer and also from the bank itself there is no need to have a sign wallet or something like that. if you are afraid of that, why not withdraw it to your wallet first and then to the exchange? transaction fee i think is still very cheap at this time.

If binance disallowed any deposit from any gambling site, it's useless to check your money through any kind of blockchain

Dread Pirate Roberts

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Quote from: jerry0 on May 30, 2019, 02:29:00 PM

Does anyone know if there is any issue with this?
Can someone here confirm if there is any issue sending btc from a sportsbook to binance? Someone a while back mentioned there is nothing in the TOS against it. I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.
Has anyone done this and if so, anyone ever had an issue with this?

I think it's normal that shouldn't be a serious problem because basically you can check the status of the transaction from blockexplorer and also from the wallet casino you used itself there is no need to have a sign wallet or something like that. if you are afraid of that, why not withdraw it to your wallet first and then to the exchange? transaction fee i think is still very cheap at this time.

Zicadis

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The only issue I could think of is that if you have your Binance KYC completed they know who you are and that you have gambling winnings possibly being redeemed, this just seems like something i would pay attention to during tax season.

I can understand if we are talking about trade taxes, because a lot of users of cryptocurrency receive precisely due to this activity a large income. But the gambler gets too small prizes to interest the Tax Inspectorate. Perhaps there are some tax minimum?

Most countries consider gambling winnings tax-free, otherwise people would be able to claim tax-relief for their losses.

Since more people lose than win, the government would therefore be net negative by implementing such a practice.

That being said, some unscrupulous governments tax winnings but don't offer relief, making gambling a risky pracrice indeed.

FFrankie

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Why not just read the terms and conditions and see? If it's okay for them to accept gambling deposits what about sending deposits to a gambling site from binance ?

shoreno

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Quote from: aioc on July 19, 2019, 09:39:56 AM

the wallet coming from Binance has an explorer you can always if the coin went through, it will show up if it confirmed.

all of the btc transactions are recorded on the blockchain and even if they dont have thier own explorers you can still search your address on blockchain to see your transaction status .

Quote from: tsaroz on July 19, 2019, 09:50:19 AM

I don't think there are any TOS regarding sending in from or sending to gambling sites or sportsbook.

depends on the exchange or wallet . some wallets that i used on the past wont also allow me to recieve funds that came from a gambling website and its written on thier rules . coinbase on the other hand is a strict wallet/exchange so they might also have this rules . best thing that op can do is to send the btc on a wallet that is less stricter and then send the coins to binance .

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Quote from: jerry0 on May 30, 2019, 02:29:00 PM

Does anyone know if there is any issue with this?

Can someone here confirm if there is any issue sending btc from a sportsbook to binance? Someone a while back mentioned there is nothing in the TOS against it. I know with coinbase or gemini.. ppl said they would ban accounts if you send btc from gambling site to coinbase and vice versa.

Has anyone done this and if so, anyone ever had an issue with this?

I don't think there are any TOS regarding sending in from or sending to gambling sites or sportsbook. It's also difficult to track them as they send coins from different addresses from their hot wallet. Coinbase seems to have some terms cautioning users not to send and receive from gambling sites. But I've done it hundred of times without any issue.

aioc

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If the gambling site offers instant withdrawal and the exchange can verify as soon as possible then it will be credited to your account, the wallet coming from Binance has an explorer you can always if the coin went through, it will show up if it confirmed.

Topic: Sending BTC from Gambling Site to Binance? (Read 7948 times)