Ninjastic
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Re: 1XBIT.COM ᐉ 7 BTC WB ᐉ Altcoin Betting ᐉ no KYC ᕗ Instant payouts
by
Hispo
on 23/02/2024, 16:32:46 UTC
Quote from: piebeyb on Today at 03:46:31 PM
Quote from: shasan on Today at 02:04:12 PM
Quote from: 3kpk3 on Today at 07:29:54 AM
All these licenses are from some random islands anyway which is why they aren't extremely credible or anything.

You are right and if any site makes a scam even if the site has a license then there is nothing to do. So, it is useless whether they have any license or not. And that is why I do not care whether the gambling site has a license or not.
Actually, a site that has a license is not a guarantee that the site is safe and free from fraud. Moreover, it's not surprising that there are many cases of sites going bankrupt and defrauding their users because the site is licensed, a license or not can't really be used as a guarantee either, in fact I don't really care about site licenses, usually I only focus on the user experience, whether the site is truly safe or not. So I don't focus on their license to find out which site is safe and trustworthy for me to play there.

For me, licensed sites are usually because their sites may be strict with terms and regulations or related to KYC, so licensed sites are definitely not much different from other official sites which apply regulations regarding KYC in them, which is different from unlicensed casino sites or decentralized casinos. which is not centralized, so there are differences there, I only look at licensing from my point of view like that, not as anything else, but whether licensed or not is not a guarantee that we are truly safe playing gambling there.

Let us be honest, in the most of the cases, licensing is a tool for the governments to tax on casinos and collect information of gamblers to combat money laundering and illegal activities in general, but in reality it is very obvious those who issue those licenses do not actually care for the integrity of the funds of those who deposit in the first place onto the addresses on the casinos. If we wanted for licensing to be a warranty of legitimacy for gamblers, then it would imply those organizations which issue the licenses needed to force casinos to have their physical locations and personnel disclosed to authories, so in case they end up trying to run with all the money, there will be a place to go and people to prosecute.
There has been a several threads about this topics before, and I have always concluded one cannot completely and blindly trust a casinos only based on the license.  Sad