Quote from: piebeyb on Today at 06:17:22 AM

Quote from: btc_angela on Today at 05:41:44 AM

Quote from: noormcs5 on June 29, 2023, 07:28:43 AM

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?

I wouldn't say it's a loophole though, for gambling sites, this could just be a way to know that gamblers are really putting their money to play that's it. They might not think of it as coming to some criminal activities or it is tainted.

If you satisfy the gambling sites, then you are free to do whatever you want. But as far as I know, you really need to wager that big money and lost it to them before you can withdraw. Which means you need to deposit more.

I think only stupid people want to launder money through gambling sites, I'm not sure either that every deposit that is deposited at the casino in large amounts will be easily withdrawn again, of course there will be many risks of losing that money. that's why I sometimes wonder why they do it in such a ridiculous way by bypassing gambling sites. even though it is clear that it is easily detected by the system

Not thinking about such people about the huge risk they face even though there are many other ways compared to bypassing the gambling platform is the same as giving money to the gambling platform and depositing it for them. moreover the very complicated requirements of the gambling platform when withdrawing money must meet the requirements which are at high risk of losing everything.

In fact, you have to be not a very smart person to generally come up with such ways of legalizing your income, in order to somehow “win” money in a casino in a cunning way and thus turn it into money legally received by such a person.
I can hardly imagine that after sending some serious large amount to a deposit and playing a little in a casino, perhaps even losing a little, such a person will begin to transfer the deposit to his account and this will be enough for his money to be legalized. All such financial transactions are simply tracked and verified. And in any case, the question remains from where the original transactions were sent to deposit at the casino.
This data in the case of cryptocurrencies can obviously still be identified as the original money obtained by criminal means. So it’s generally not clear why such stupid money laundering schemes are needed.
I am sure that these methods are almost never used by anyone. And I hope all the major well-known casinos prohibit such operations on their sites. For them, it is obvious that it is much better to be law-abiding than to engage in dubious transactions.