Quote from: Fortify on Today at 06:37:32 PM

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?

Gambling sites are very aware of the possibilities and casinos have been traditionally targets for this activity, so it definitely does not go unnoticed by anyone. Money laundering with bitcoin is actually not generally possible in the way you're describing, as the actual wallets are disconnected from the balances when bets are taking place. The casino will often have control of the player wallet, even pooling lots of them together, but keep track of balances that the player is allowed to withdraw by a different mechanism. If a player deposits money, it doesn't move back and forth between wallets when under control of the casino, but rather it might be "balanced" or have funds paid to the casino at the end of the day, otherwise it would go out the same route it came in.

Plus they are centralized or heavily regulated on which means that in speaking of money laundering then it could really be that plausible and this is why they would really be mandated or would be asking out such

rules so that they would really be able to avoid out that possible money laundering and this is where wagering requirement or conditions been applied on deposits so that people wont really be able to pull off easily on the time that they would really be tending to make use of gambling site as mediums for them to launder money. This is why those people wouldnt really be putting that option on making gambling sites to be their
ways of method on laundering money since we know that they are really that been regulated and you wont really be just only be putting up the risks on wagering or losing those funds but also you are really that
having the chance of being locked up specially if theres a sudden huge amount of deposits into your account that you do tend to launder which it would really be adding to those probabilities.