Topic: Why they need a license if bitcon is not money? - page 15. (Read 4439 times)

I know for sure that in US, if you must operate as a money operator then you must be dully registered. This is why casinos must recognize of their activities if they want to operate along with the US citizens because it's involve deposit, withdrawals and gambling with it. This law is what protect other countries too that you must be fully recognized by them but I think is because of tax, they want to Tax these casino badly that's why they want to have license before they are allow.


These casino sometimes include Bitcoin and crypto among their deposit because they want to compete with others, they don't want to do only fiat not to be rule out of the market, it's when they compete some ot them run into problems and we know the government hasn't be friendly with crypto, it will be  a total waste of time.

I agreed with you to some extent though because most of the casinos that we have around are all carrying Curacao licenses and to me, I believe the reason why they have popularity around casinos is the ease of obtaining the license at first, because when you talk about casino obtaining licensing you should also talk about the government policies towards issuing of licence to casinos, and that is one of the most important aspects and the reason why Curacao became a safe haven for most casinos looking forward to obtaining a license.

So for sure many of them have failed to meet up with the reputational demands of operating a license casinos because they have violated the role that guides such licenses.

I am a player of cryptocurrency casinos. I think regulation of cryptocurrency casinos should be more flexible than regulation of traditional casinos.
On one hand, I understand that governments need to protect players from fraud and money laundering. However, I believe that licenses are not the only way to achieve this goal.
Casinos that operate without a license can still be safe and secure. They can use advanced security technologies such as encryption and blockchain to protect players' personal data and transactions.
In addition, licenses do not always guarantee player protection.
I believe that regulation of cryptocurrency casinos should focus on protecting players rather than collecting taxes and fees. Governments should develop security standards that all casinos must meet, whether they have a license or not.
I also believe that governments should work with the cryptocurrency casino industry to develop effective anti-fraud and anti-money laundering measures. This will help create a safer and more transparent environment for all industry participants.

Maybe some reviews are not reliable  and that's the reason why other gamblers like you didn't believe easily in reviews. And yes you are right everytime we want to play in a new casino then we must do some research inorder to prevent such loss. Cause through searching we can get more information a reliable informations about the specific casino. And then once we got an a good feedback then we can try betting with them and if their customers services is good and responsible and their withdrawal don't have problems then we can bet higher and deposit a good amount.

No one common gambler will travel to Curacao. Also, we are talking about online crypto casino. No one court will hear about bitcoin and some site with casino.
Here we can find real stories about casino, real problems. I don`t believe reviews but some research of the threads give much more information we need. Just spend two hours and gamble without fear.

You are wrong, we actually have alot of decentralized gambling casino, but most are dead due to lack of activity, as most people still prefer to play on centralized casinos instead of the decentralized version, and the reason for this best known to me is that, on decentralized casinos, every single game you play will require a blockchain fee and blockchain confirmation, imagine playing slot game on a decentralized casino, you clicked the spin button 150 times, you will also have to pay for blockchain fee and wait for transaction confirmation a 150 times, this not only is a waste of money, it is also a waste of time and a good source of demotivation, and what could even make matters worst is that, if at the end of the day, spending on bets on the game, and spending on blockchain fees as well, you still did not win a dime, but rather lost money, then it's a double loss.

In my honest opinion, it is important we understand that online gambling is not like online trading, Decentralized exchanges have better chances of becoming big with a lot of people using it, but it is not so with online gambling, I do not think or see a time when decentralized casinos will come to beat their centralized counterpart, the only game I think will suit decentralized casinos is sports betting and PVP games, but when it come to games like slot, casino in-house games, it's a no no..

That's right, regardless on how bad their regulators are, as long as they are regulated, it's always better than not regulated at all. The only beauty on non regulated casinos is when it's decentralized, but the sad reality is there are only few decentralized casinos now and they aren't as popular as regulated casinos. At the start we are campaigning that crypto should be seperate and should not be regulated, but at the end of the say crypto is still not accepted anywhere and we still rely on fiat in order to spend it on things we want, so that's where the government came in.

You are on point, we do not trust casinos based on how many licences they acquire or the country they are operating from, we trust them based on personal and people's reviews and experiences with them. Fine, the licencing and regulation are good, it is a way to make them accountable if they are truly registered and regulated, but still, they are not the main thing as the duly registered casinos could still cheat you and nothing will happen. This is even as a casino that is not even registered may choose not to cheat you, so what? But no matter what you tell some people they will still believe that it is the licencing that is their point of attraction to casinos, so it is a good thing for casinos to seek such so that it will be one of their main points of marketing, and as you can see all the time, it works.

And personally, I can't open with a casino that is not regulated, and that doesn't mean that it is because I trust them based on that. But because they deem it fit to do the right thing, and that makes them good ambassadors against the campaign for anti-money laundering. Whether it is a weak licence/regulation or not, I am not bothered, all I know is that they can be accountable too since their details would have been registered as well. This is unlike those that are not registered at all, they can just disappear into thin air untraceable. Such is happening.

Profit isn't really the main purpose, it's to serve the interest of the people and that already includes making money from the gambling sites to increase the government's collection through taxes. When a gambling site isn't regulated, it will be easy for them to scam people, they will not be punished and more and more gambling sites will operate doing the same pattern of scam. The government don't want them, it's either you operate and pay taxes, or you will be considered illegal and you can be seize anytime.

Does anybody here expereince getting scam from a non license gambling site? If so, were you able to recovere your money? what measures do you do to be able to recover it?

The government needs to take their part in every profiteering in the world so it is correct that they need to be recognized and this to happen needs regulations and their accreditation and in this Licensing will enter.
Taxation is a must for everything that involves money this is also the reason why some casino operates as decentralized for not allow the government take anything from them.

I think that is not the basic principle about licensing. For me, if a gambling site operates and accept money, that means they need a license in order for them to be regulated. The government can't tax a gambling site if they aren't regulated because they'll be unknown to them, so it doesn't make sense that there's no exemption on a gambling site and will be given a freedom to operate without a license.

To my mind, freebitco.in and bustabit.com can still work without a license because they don't have games that require the permission and support of the third party, b2b casino suppliers like Live Blackjack and slots. Curacao license doesn't make any sense for me too, I don't feel protected when I gamble on a casino that has Curacao license, I think they acquire it because they need to offer you many casino product. For example, when casinos offer you games like Live Blackjack, they need a casino license to legally offer you Evolution Gaming's products. Slots also require that from my experience. Crypto casinos are forced to get a license to offer you those products.

We always gamble with the amount we can afford to lose but we go there to have fun. If we lose the gamble and lose money, it doesn't bother us too much because we're just there to enjoy it. But if a casino site is a scam and we lose our money unfairly without enjoying any kind of bets then they will give us a lot of trouble. And that's why we need a licensed casino site so that we don't lose money without gambling at least

Allright, but let suppose that tomorrow you can't withdraw your funds and tha casino shutdown after that.. So then dealing with a Registered(licensed) entity give you some hope/insurance or a way for claiming your rights !  No?

You are right, this is exactly same thing I preached in my previous comments on this thread, license is nothing but a decoration on online gambling casinos this days, for the ordinary gamblers out there, license means nothing, because license have never saved gamblers from losing their money to a scam or bankrupt casino,  if there have ever been any, then I have seen or heard of it.

Any casino can decide to be genuine and faithful to their customers without a license, and for gamblers, there is no other way to trust a casino outside reviews from other gamblers who have used that same casino, any one or gambler trusting a casino because they have a license, and fails completely to look at what other people or gamblers are saying about that same casino, such gambler is indeed a professional gambler, because he or she is gambling two times at a time, he or she is gambling with his funds, and this is before the actual gambling begins  .

As for me - the ANN thread here means much more than Curacao license. I can`t same something good or bad about license, but as a gambler i don`t see any difference for me. KYC is everywhere, win percent - about the same. UI - often looks like brothers. If i read here positive feedback and the casino solve problems - it is more positive information for me than license.

If you mean safe from scam yes nothing is guaranteed there especially that any casino can pull off their biggest scam to happen that's why even if they have license still there are still a chance that they can compromise their clients. That's why its important to look for the signs that they are starting to act weird so that we will not get experience any huge upset especially if the casino starting to missed out those withdrawals asked by their clients.

Those licenses is just a marketing tool for new casino to attract new user but this will never guarantee their safety since we don't know the real long term intention of these casino and we can see some license casino became scam that's the reason we can agree to those people saying that there's still a risk of losing money even if they have those legal documents.

If a gambling casino fulfilled all the requirements for taking the grant for license and they were approved doesn't mean we are completely safe by them, the whole thing is just like someone who wouldn't mind loosing something to achieve another thing, so therefore, we must only take the risk we can afford to bear while gambling and research properly about any crypto online gambling platforms.

In fact, I see that currently the Curacao license is one of the reasons for gambling players to choose a gambling site, well players will feel safe playing on a gambling site when they see that the site has received a license from Curacao

If you compare it with FreeBitco and Bustadice, I don't think it will ever be the same, because there are many other big gambling sites currently registering their sites with a Curacao license, but back to each person's view, from what I see, it's not a big problem with curacao license

I mean there are some points on it since we use Bitcoin as digital money, and we use it to gamble Bitcoin is not the issue since the license is for the website to operate in certain countries because it was taking money from their people. For sure there are going to be a lot of complications when it comes to the government and for sure when it comes to the government or license it is just all about money right there, so we wouldn't probably need any kind of license for casino but government for sure are taking advantage of this businesses since this is going to be a huge amount of money for them if they are going to implement something like it. They for sure going to avoid Bitcoin as a form of money at some point since it wasn't going to be a thing that they can control or they can regulate like fiat money, for sure we all know that government inflation is just cause because they have the power to keep printing money, but they cant do it on Bitcoin because of its limited supply.

Also, the regulations still would depend on the country that you are in, but if you say so then let's just play on the gambling websites that you mention, The only annoying thing on gambling websites is mandatory KYC is probably a big red flag already if it is required on a gambling website.