Topic: Thought's on many major fiat-crypto payment gateways ditching casino business's? - page 4. (Read 646 times)

There's a thin line between payments from fiat and crypto, crypto on one hand offers privacy and the casinos that don't ask you for KYC will either just keep crypto as an option for deposits or if they allow fiat deposits, they will still not have any data coming to them because the data goes to the third party only. Fiat on the other hand, charges too much and is flat valued as the value can't move so you will not get more (or less) of what you have put into gambling. So crypto's weight over fiat is slightly more and that's why most of us would like to deposit with it. If we don't get any options from the casino to buy from places like moonpay, transak or something else, why can't we buy crypto from exchangers that are recommended by Bestchange? Or some P2P purchase?

What does this whole mess interest you, you know? That is the stark duplicity! Now that the power dynamics are shifting due to cryptocurrency, we find ourselves in a situation where the titans are trampled underfoot. The way Moonpay only accepts new customers with licenses specific to a given region? By any other name, that is merely gatekeeping.

Transak has demonstrated wholly inadequate forethought by withdrawing completely. Sure, leave the kitchen if you think you cant handle the heat. But never forget that revolutions are simmering away in kitchens.

This whole area is rapidly reverting to the same old corporate playground where the little fish are swallowed up, which is frustrating because it was supposed to be a place of great innovation and fair competition. Because of the proven fact that when you corner the underdog, they will fight back, beware, world

I think it's a huge regulatory (and therefore very expensive) issue, therefore it's easier for them to stop offering crypto-purchasing services. Most people know how to buy cryptocurrency on a crypto exchange, such as Binance,  and then send the coins to their casino wallet. So it's a matter of casinos offering a small convenience for customers. Maybe they can no longer outsource the responsibilities which come along with offering such a "customer service"?

If that's the case, they can figure out how to use crypto or buy crypto so they can find other alternatives to the payment alternatives on the site. But they can also directly use the payment alternatives available on the site if they want to avoid looking for other places, such as exchanges. Users can choose the means of payment they like and don't need to use what other people use crypto. They need to find out before using something so they will go right after deciding.

People prefer crypto payments over the fiat payments when they want to deposit and play at the casino. This does mean that if a casino is offering both fiat payment and crypto payment, the gamblers will usually prefer the crypto payments. It is because the crypto payment processing is hassle free, fast and cheaper as compare to the payment by fiat.

Also, when you use credit cards for payment, we have to give our credit card data to the casino site and i am not really feel comfortable to store this data on the casino site. This is another reason why crypto payments have become popular over the time.

Very few players are still using fiat deposits now, is OP one of the few that still using it, all the advantages for players are on using Cryptocurrency, you are safe using Cryptocurrency and things are fast and easy, casinos will one day shut out these third party fiat deposit providers for lacks of users.
Players are now realizing the many benefits of using Cryptocurrency over fiat, Cryptocurrency is the game changer in the casino industry, more than ever online casino popularity has skyrocketed because it takes away the restriction of using fiat only for deposits.

Maybe they don't have any crypto to start with and they just want to try crypto gambling for the first time. Online gambling is huge and it doesn't just revolve around crypto tbh, I think there's still a lot of online casino players that uses the traditional method of using fiat. Maybe you need to read the thread content first again, the topic was about "crypto casinos that offers fiat payment gateways but these gateways said they aren't accept casino business", though not yet clear if OP saif was true.

This is correct, most of the payment gateway already partnered to centralized exchange that makes other services that accepts fiat consider it not top priority because people already preferred exchange to deposit their fiat then withdraw to the service that they want to spend crypto such as casino.

Only few crypto casino accepts fiat and most of them only use the giant payment processor such as visa and mastercard to deposit fiat in the casino. In my opinion, Using fiat on crypto casino will remove your advantage of being anonymous when playing with crypto if you will deposit Fiat directly to your casino account.

Gateway companies will never share the main reasons for doing this and of course they have their own reasons which are the privacy of the company so that bad or negative responses arise against them.
Just like Coinbase, which is one of the top rated, it also has to comply with the rules set by the US regarding currency exchange because Coinbase itself is a US-based gateway company.
But as time goes by I think most people are no longer using gateways and are choosing other, faster options using crypto exchanges like Binance and so on.

Regulations is not up to moonpay, they must be following what is mandated to them also. There are other ways to make people buy crypto inorder for them to play in a casino, though its not very convenient I think will work for the new casinos coming to the competition.

If the new casino partners with exchanges or simply just use their affiliate link to sell crypto to gamblers, it will make the users smarter. Probably even avoid moonpay.

I mean technically speaking, if they were playing on crypto casinos then they're bound to know about how crypto works, so they should be able to buy their own via exchanges if need be, and not directly with casinos themselves. I don't think it's going to be "that" much of a big thing, for all we know they may have stopped said services exactly because of that, that their customers don't really use the service and they're basically losing money implementing said services.

As I said, I don't think it matters much, it's not like buying in exchanges is that much of a pain in the ass, except for KYC for the most part I guess.

Don't forget that not everybody has your knowledge/background on cryptocurrencies and that most people don't know many of the tools we take for granted. Bitcoin, although more and more people has ever heard about it, still poses many questions for most of them, and an integrated gateway can make the difference between using their services or not, even if veterans like us wouldn't care about it or even refuse to use it because we prefer better channels to do so.

Many gamblers are still looking for a better way to cash in, maybe this is why many still prefer a fiat currency.
I'm wondering though why they choose crypto casino if they will not use any crypto at all. What's specific site we are talking here?
I'm interested to know about theses crypto casinos who are working towards fiat adoption, this could be the trend.

It is an agreement between service providers while the user will not know the truth. Users are only directed to use fiat-crypto casino payment service providers. And if users feel that using a casino's service provider is not profitable, they will use other methods.

After all, crypto casino users already understand what they have to choose because many crypto users already use crypto because of its convenience. They can buy their crypto wherever they like. They do not need to use payment service providers provided by casinos if they are not comfortable using them.

And I still prefer buying crypto from exchanges than using Moonpay or any other service provider. And I also use crypto for deposits to casinos.

Well, I think there are still individuals that may prefer that especially if they're just starting in crypto or some individuals want it as an alternative for a crypto casino so these casinos still put it an option to some.

Don't know the deal with Stake and BC.Game adding it as an option but I don't think they'll put it there to just ruin their reputation. Either the OP is just making some story or there are miscommunication between these payment gateways and the casino. The OP didn't even make an update or provide more information about this.

I have no idea about the truth behind this matter since it was the payment gateway companies policy though I kind of think that this has something to do with competition and monopoly.  Thinking that one payment gateway still continues to serve huge casinos while rejecting new casinos to use their service.

These crypto casinos are missing out in rejecting their new clients since the new founded casino can possibly be the next big thing and rejecting them will simply cut off some of the source of income of the payment gateway company.


I also searched the net for the reason why these payment gateway companies stop accepting or selectively accepting casinos to service with but I do not find anything.

Well any service that could potentially make more revenue and is making depositing money easier for some people is worth using.

However this is the only post i found about this subject and i guess i would have just to blindly trust OP on this issue, as only source for this is OP saying he/she contacted those services. He didn't include any screenshots about these conversations so i would need to confirm this myself. I see no reason for OP lying about this but it seems really unbeliveable that this would be only post about this subject. Maybe someone else has more info, or OP would like to elaborate on this.

A crypto casino wouldn't have a gateway for fiat payment because that isn't the payment method that the casino has chosen. They don't give a fuck about fiat payment that is why they decided to go with crypto and only accepts crypto. Crypto is the world new digital currency and everyone is going after it to abandon the old fiat life style. If you are looking for a crypto casino that has a gateway to fiat,it is better that you first exchange your fiat to crypto in a exchange before funding your gambling wallet. Or go gamble in a fiat casino. Maybe there is a reason why they only accept to deal with only new casinos from the UK and USA.

Why would a crypto casino care whether it can or cannot strike a deal with a fiat payment gateway?
As for he ditching, it was like that from the beginning. Fiat companies would try to make deals with crypto companies and either found the amount of people willing to use them too small, or were given a warning from some government agency that helping a crypto business may lead to some more frequent checkups by tax authorities. At least that was the case in my area. It's obvious governments (in general) don't want banks and payment companies to work with crypto firms. A crypto casino is even a bigger issue to them.

Whether these payment providers had been mandate out on not to accept newly built up or launched casinos or really that strict on following their criteria on accepting one. Therefore, if you are that a gambling site
whose really that having no license then dont expect that you would really be able to get this kind of feature on which gamblers could really be able to directly purchase crypto with these providers but come to think
that it was never been available before which means that if gamblers are really that interested on playing on a certain site but lacking up with this kind of feature, then they would really be just simply be buying crypto on exchangers and would really be transferring into their gambling account as simple as that. Its not always that a big hindrance for them to stop on playing on a site just because they havent seen that option. Somewhat having these kind of options does really make things comfortable and easy access but exposing yourself towards using up your card or any other correlated things will really just totally opposing the real deal with crypto
gambling. This is why these kind of things arent really that something a big issue for most crypto gamblers because anonymity will always be that preferred but cant really deny about on the convenience that it do brings.