Topic: Why they need a license if bitcon is not money? - page 12. (Read 4559 times)

Actually I was thinking is what do really the license stands ? because even those licensed casinos that turns scammers seems to be not putting behind bars and the issues was just being forgotten like it is never happened .
so for me either the casino is not licensed as long as it is serving gamblers here? then I see no problem trusting them at all.

I must say that I am happy to read from you about the fairness between the government's actions and the clamouring for the privacy of people. Most people thought this was wrong before and it was as if I was the only one who supported more regulation for a sane society. Privacy/anonymity as we see it will harbour more evil than good, fine, we want to be on our own and do everything as we like without anyone knowing and questioning, but have we thought about giving those rights to the bad and wicked fellas in that sense? That will make the world to be in grave danger.

The heart of a lot of people are wickedly wicked, so letting their wishes happen in terms of privacy and anonymity will make their bad intention escape undetected and unchallenged and cause irreparable danger in some cases. The government can't fold their arm to allow that to happen and I believe that the responsible world citizen should support the government in this area for the good of all. It's good that we already have cryptocurrency and it has come with its benefits as well which the government cannot take from us anymore. But letting the users of cryptocurrency be accountable is not too much to ask for in my opinion, and whether we like it or not, there would have to be enough stricter regulation in the coming years.

As for the m!xers, I still wish the government could be thorough about this to abolish it entirely. It is a menace in our society and you can see the evil they've used some to perpetrate. This is currently happening even as the government are doing their best to limit the illicit flows and the negative effect on the society.

Whatever, bitcoin is something valuable that can be measured in its countervalue in fiat money, that's what matters to the authorities.


If you wanted to set up a casino where you could only bet on gold, the same thing would happen, and gold is not legal tender today.

It is like the people who thought that because there was no explicit regulation on bitcoin in their country they were going to get out of the obligation to pay by obtaining a capital gain by selling it. Your government doesn't care, if you buy a dog shit at $100 and sell it for $1,000 the treasury will want to charge you for the $900 difference.

This is where the question arises that the right to anonymity in such an area as the gambling industry (where this is obviously an essential factor for the comfortable play of millions of clients of the global gambling industry) must be protected in a certain way by current legislation.  And then the casino will fulfill these requirements.  
However, as I understand it, legislators in the USA and other countries generally ignore such legislative initiatives completely.  Nothing has even been heard about them and no one is working on them.  And legislators are only doing the opposite with laws on the de-anonymization of crypto payments under the far-fetched and essentially false label of “anti-money laundering.”  In my opinion, too much priority and preferences are given to this area of ​​legislation.  But this is of little use because almost all illegal and criminal money circulation occurs through fiat and cash.  
All this, in turn, creates a legal vacuum in the rights of players to anonymity when using crypto casinos.

But it is a cryptocurrency that is nonetheless highly liquid and favored by many reputable institutions. Of course, governments want to take control of both cryptocurrency and gambling companies. But in general, the idea is interesting: if we play for fake money, then why do we need a license? Instead of Bitcoin, you can use some other cryptocurrency. The best one is one that is less serious. For example, some little-known dog token. Or an in-game NFT. After all, a casino can operate on in-game NFTs? It's definitely not money. It’s generally difficult to say what it is).

I believe some already mentioned this, but provably fair platforms are not rare, so those are your options. Obviously, you need to have some degree of knowledge to check whether the match is correct or not, but you can also wait for community members to test the platform for you. I believe some websites will also review such platforms if the needs arise, not to mention websites with KYC don't mean they are not scammers. I believe it is not hard to do so, even if you use some basic common sense you can avoid scam websites. Just look for the signals. If they are new, claim to have operated for years, offer a provably fair system but provide no details, and no community ever heard about them, then stay put and wait for reviews or look for other websites asap. You don't need to rely on the government for that.

Free tax I believe hahahha it same with the big companies that have Overseas companies with million or billion of worth asset in Cayman Island Bahamas and Cyprus these are island in the middle of nowhere but If we could count all the asset maybe it can hit trillion of dollar hahhahah.

In the gambling world, I see a bunch of Curaçao registered companies maybe it is because it is very easy to get a license there and I believe there maybe no official office there only a plain address with a virtual office that hosts a bunch of other companies in it. The reason they registered their companies here because maybe first is tax and second they can operate with "Legal" documents and so make the site is more trusted. Tho you don't need to worry fren because gambling site like u mention before always there and cannot be killed. Long live freedom

I think government play a very big role in the trusting aspect  as a non licenced casino  shouldn't  require. kyc registration  for it users( the gamblers) or maybe we could just have this registered casinos without  having  to undergo the kyc process leaving almost all gamblers as anonymous  (although not too anonymous) as they aren't going deep into kyc but with these some might still want to  do some illegal stuffs  so I think government  is actually  monitoring  the inflow of the money just like they wanted to monitor mixers

The gambling without license could have been the best because most of them would have been non KYC gambling casinos and they won't require KYC informations from us as well as seing them not regulated by the government since they are not having any license to back that up,  but can we have the required trust in some of these sites, how reliable could they be in such a way that you will not see them taking their users fund away at anytime when they cease operations.

I agree that a license is not a guarantee for a casino to behave fairly to its customers in terms of games, because there are many gambling platforms that have a license but they cheat, it is not a few who do that, yes it can be said to be a third party game to make people believe that they have a license that they do everything fairly.
Yes, we may be able to see that those who used to have no license but were able to operate the casino fairly are not a doubt that when they get a license they will do the same, it should increase their confidence that they are doing it fairly in running their services. But in any case we should not be too sure because something could happen someday, I don't mean to do FUD but being more careful is a better attitude than being too fanatical.

And all the governments that require every casino to have a license means that they assume that bitcoin and others are currencies, roughly speaking, can you say that?

Well, you are right, this is same thing I said about casino and their operational licenses like several weeks ago.
License is never a guarantee that an online gambling casino can be trusted, I can say or tell you that most of the casinos who obtained this licenses only do so for probably two reasons...

1. To be recognized as a business by the government issuing the license, this possibly enables the casino to pay taxes as a business, to avoid harassment and possible sanctions in the future, for tax evation and other related offences.
2. To appear as a well recognized and legitimate business in the eyes of users, you will agree with me that, even though having a license is no longer a guarantee that a casino can be trusted, most have gamblers, especially those with big bags of money, may like choose a licensed casino over an unlicensed one, as they feel some level of security when playing on a government recognized casino.

This is my thought.

Thank you. Yeah, a license means nothing because there have been many websites with a license but still scammed. In crypto casinos, the license is not a guarantee of a casino being honest and 100% payable. There is 1xbit with Curacao license that has always been scamming people, they still scam and because of the marketing, they are able to still attract new customers. They are licensed but it doesn't help, as far as I know, no customer has taken their deserved money from them.
As far as I remember, freebitco.in and bustabit.com didn't have a license but to this day they have not scammed anyone. Now both of them have a license but they were as trustworthy before acquiring a license as they are today.

Nice point there mate and yeah I think i get that completely and indeed that I missed this part part when I am analyzing this concept of topic , or maybe I lived  in the country where corruption is really in place so i have a little respect when in terms of money making.

Freebitco.in may not be as big as Stake but they are big enough to really ask for KYC but
they choose not to meaning that they are a bit better than those who continues to ask for KYC.


Casino is the money making machine of government meaning they will keep asking
for portion of profit from casino owners in which the owners will take those funds from players.

Casinos are hot cake to government in my opinion because casinos  make and control alot of monetary  funds and some  even use this casinos  for money laundering  so far it's  not obvious  and cash is been spent so there's no way government won't  be after them and truly if we are to consider  anything  legal  in a country or statethen it must be licensed , legalised  and backed up by the government itself, either way government wins no matter what

In theory, the government is actually everyone in the sense that money evaded from the governments does not get spent in the general interest of people so governments tend to prevent anything that escapes their financial control so dealing with crypto or casinos is the same: make sure you get money while making sure there is enough incentive to keep the business going.

On the norm, a business that is operating on a global scale should have a license to operate, most especially if the business of one where money possibly leaves a country into another country through the gamblers that are gambling on the casino from different parts of the world, and government know gambling casinos to be money magnet, since everyone wants to make money easily and quickly, most usually turn to gambling as the only means through which that desire can be fulfilled, and casinos are programmed to always be in profit in the long run, regardless of how much gambler win or won.

And speaking on kyc, I think the major issue here is that, government believe that bad eggs can use casinos to launder money if that casino is one without a license, and as such, does not subject their users to any form of kyc, governments want to make sure they catch any one who is laundering money out of their country through illegal means, and as such, this is why it's mandatory for all money transmitters, which gambling casinos are also part of, to obtain and an operational license which automatically gives that casino the legal right to request kyc verification from any user for what ever reason, or even without a reason, but as a mandatory requirement before the user can be granted access to the casino's services.

Government is just a funny body that think they can do anything and whatever the want. Well for the fact that they are issuing licence to casinos, means that they want money but not just money anyways for documentation purposes but however, casinos are business ventures and as such the government would want to take task from them because her citizens patronise them for services which means the casino too are making huge revenue from them coupled with the fact that most do not win the games rather they lose their money and are not compensated because they are gambling.
Possibly these are amongst the reasons why government are hell bent on taking tax from casinos and issuing them operational license because they too want their own share of the cake the casino take from gamblers.

Of course, the government will see it once the business gets bigger and they'll require them to get a license or ban them.

However, what can you say about the growing popularity of Web3 Dapp games or gambling? I saw a lot of platforms being promoted in the forum already and they are getting a lot of bets, can they disrupt the gambling world? How would the government regulate it then if it's decentralized?

I see some decentralized casino before to be not worth playing but it has become competitive now with this web3 Dapp, so it's easier for the gambler to trust it since they are using a non custodial wallet, we link our wallets and we can withdraw anytime.

The majority of the casinos without licences only run for a few months or years but doesn't have the capacity to run the operation for a long time since at anytime the government get through to them it will definitely become the end of their operations.

So for contemporary casinos that have long term in views it will be very necessary to get the license needed to operate as legal company and at that will implement KYC to comply with government demands.