Quote from: Kavelj22 on June 05, 2019, 02:12:06 PM

Quote from: @BrianLim on June 05, 2019, 10:20:42 AM

Why Use Crypto For Gambling?

Of course, many regard cryptocurrencies as safer and more secure since everything is tracked on the blockchain. If for whatever reason, users want to keep their activity private, using Bitcoin or other even more anonymous currencies such as Monero make that much easier to achieve. It is reasons such as these that may help cryptocurrency become the top choice for online casinos.

There are other benefits too. The blockchain allows systems to be put in place such as KTC and AML that will help to ensure funds are sourced legally. Other features such as deposit limits and cool-off periods can be imposed as needed.

Not only because of this, there is another main reason for why to use crypto in gambling: There is about 2 milliards people haven't yet access to bank services and some of them doesn't even have an ID card, and those willing to make some bets are forced to use false identity or use a legit account of another user who will pay when the bet wins (it's a whole hidden industry of those creating accounts in betting platforms using their bank cards then sell bets for other people). When with cryptocurrencies, it becomes more easier for anybody from everywhere to make bets by only having a mobile device and internet connection. This causes the enlargement of the crypto-gambling market with a huge growth potential compared to old gambling site (bet365/planetwin...).

I think there are places where it is fully legal to gamble and use crypto as well. In such places, not all out there care about their identities and it leads them to even gamble without KYC. So I think that KYC is not a bad thing but yes it is not good in one aspect and that is that you get your information disclosed which might lead to possible hack of your wallet.