Re: Why they need a license if bitcon is not money?

I hope they keep to it, most online casinos also wanted to be like freebitco but along the line they join other popular online casinos that ask for KYC, I have been using freebitco since many years ago and they have never asked me for KYC before, I am impressed, but what if freebitco become as big as Stake some day? Won't that bring attention?

Online casinos can survive and still become successful under the radar without being noticed, but when the attention gets bigger they might come looking for them, and they can be forced to go same route like big online casinos have done too.

The thing is that, why most of them don't survive when they have kyc in place is because the authorities always look at they activities as illegal and against the law since they are not paying any tax if their are not regulated in the first place and most who don't want to expose themselves are always looked for and sectioned that is the reason most of the new casinos always make sure that they uptain license before they begin they operations.

We have seen many cases of those no kyc casinos becoming victims of government sanctioned which at most time leads to their closer in the long run, this have taught most some lessons.

Yeah! Casinos without KYCs for government to have part in the running are always main target for sanction as they would tag all their activities to be an illegal one NMW and there's no way they can just themselves
Governments are just concerned with the both the gamblers and the casinos itself ....

if the government is truly concern about the casino and the players itself then lets thank them completely Grin

But I doubt that this is the main reason why government is acting such but for me? they are acting for themselves because We knew how much money is flowing in every casinos and indeed they might be checking if how much they can gather having all these regulations and requirements .

In theory, the government is actually everyone in the sense that money evaded from the governments does not get spent in the general interest of people so governments tend to prevent anything that escapes their financial control so dealing with crypto or casinos is the same: make sure you get money while making sure there is enough incentive to keep the business going.

Nice point there mate and yeah I think i get that completely and indeed that I missed this part part when I am analyzing this concept of topic , or maybe I lived in the country where corruption is really in place so i have a little respect when in terms of money making.