Post
Topic
Board Gambling
Re: Loophole in stopping Money Laundering through Wagering
by
Crypt0Gore
on 03/07/2023, 09:29:06 UTC
As we know that most gambling sites will require you to gamble and wager your whole balance once, before you can cash out or withdraw from the gambling site and they take this measure so people do not do money laundering whereby deposit and withdraw without gambling.

Now the point here is that on the gambling site, there are many easy winning bets with odds like 1.01x etc. If the money lauder is sensible he can easily be wagering the whole amount by placing a few bets where the odds are very low and the winning chances are 99%.

So does this mean that there is a loophole here and the money launderers can easily by pass this wagering requirement?
Hmm this makes a bit of sense but I think the best way to say this is, it will increase your chance of winning more but it won't kill the chances of losing money, instead of thinking of how much you will make using this technique think about how much you will lose using this method.

The chances of losing is still available and it will be even more painful if you lose this money because you are betting on low odds, I have tried this with a brother who is a football fan, even the lowest of odds doesn't bring wins most times, to me I see not much difference.