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NewsIs it legal to use crypto in online casinos? Illegal access sold on Facebook and Discord

Is it legal to use crypto in online casinos? Illegal access sold on Facebook and Discord

People are selling access to illegal crypto casinos on Facebook and Discord for just £8. This puts users at risk with unregulated sites and big financial dangers. Legal casinos and state governments are losing billions. But who cares about the law when you can gamble your life's savings for the price of a sandwich?

Takeaways by BetterChecked
  • The legal status of crypto in online casinos depends on where you are.
  • Illegal crypto casino access sold on Facebook and Discord for £8? Wow, what a deal! It's like they're having a clearance sale on bad decisions.
  • Unregulated sites don't have consumer protections or follow tax rules. But who needs safety and honest taxes when you can live dangerously, correct?
  • Illegal gambling costs legal casinos $42 billion every year. Looks like those underground poker games are more popular than we thought :P
  • State governments lose $13 billion in tax revenue every year.
  • Discord and Facebook ban illegal gambling activities. (Because they are concerned about us...)
  • Experts stress responsible gambling and researching reliable platforms.
1How illegal crypto casino access is sold
2Are crypto casinos secure?
First published 4/19/2024 on BetterChecked• last updated 7/5/2024

On Facebook and Discord, black markets for illegal crypto casino access have emerged. Some Facebook groups, which appear to focus on "gaming discussions" or "crypto enthusiasts," secretly operate as hubs for illegal activities.

These groups, with over 50 in total, each boasting thousands of members, facilitate discussions and sales of illegal casino entries. When individuals express interest, they are redirected to encrypted messaging apps, such as Telegram, for finalizing these deals.

Sellers prefer cryptocurrency payments due to the anonymity they offer, making it difficult for authorities to trace transactions.

Recommendation by BetterChecked

A lot of illegal crypto casino deals happen on encrypted messaging apps, which makes them hard to track. So, always be careful and check if any online group is legit. After all, nothing screams "trustworthy" like a private chatroom.

Discord is no exception. Servers that claim to be about crypto trading or gaming often also sell access to illegal casinos. One server, with over 20,000 members, had a dedicated channel specifically for "casino-access" deals.

Although Discord has strict rules in place against illegal activities, they struggle to keep up with the sheer number of servers.

  • ->Typically, sellers request crypto payments
  • ->After making a payment, buyers receive URLs or invite codes to these shady casinos
  • ->This is often followed by immediate regret
Recommendation by BetterChecked

Illegal crypto casinos are easy to find on popular platforms. So, always make sure you're using legit and regulated services—unless you like losing your money to shady people.

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Illegal casinos often use cryptocurrencies like Bitcoin, Ethereum, and Monero for payments to maintain anonymity and avoid regulations.

The transaction fees for these cryptocurrencies range from 1% to 3%, depending on network traffic and the specific crypto used. While some users experience smooth transactions, others encounter delays and scams.

To attract new players, these casinos offer promotions featuring large welcome bonuses and high return promises.

For instance, one user on Discord received a £500 bonus on a £50 deposit but soon discovered that the withdrawal conditions were nearly impossible to meet.

Recommendation by BetterChecked

Big promotions in illegal casinos can be tricky and usually have tough withdrawal rules. So, always check the details.

How illegal crypto casino access is sold

Illegal gambling has significant financial implications for legal casinos and governments. According to the American Gaming Association, illegal gambling costs legal casinos $44.2 billion annually.

Furthermore, state governments forfeit approximately $13.3 billion in taxes every year.

In the UK, unregulated online casinos generated £1.7 billion in revenue last year, as reported by GamblingCompliance. These substantial losses have a profound impact on public funds, ultimately affecting crucial services such as healthcare and education.

The success of the illegal gambling industry comes at a substantial cost.

Recommendation by BetterChecked

Illegal gambling takes away a lot of money from legal casinos and governments. This messes with public services and the economy. And let's be real, we all need good public services.

Legal casinos have a significant impact on the economy, generating taxes, jobs, and tourism.

For instance, in 2022, New Jersey's legal casinos generated $3.52 billion, contributing $469 million to state taxes.

In contrast, illegal crypto casinos undermine these benefits, failing to contribute to the economy in a positive way.

Legal casinos also prioritize player education and addiction prevention, which is not a concern for illegal operators. They drive tourism and create jobs, with a total economic impact of $261 billion in the US, according to Oxford Economics.

The money spent on illegal casinos, on the other hand, does not contribute to these benefits; instead, it is lost to the economy.

Recommendation by BetterChecked

Legal casinos bring in a lot of money for the economy. This money is lost when people spend it at unauthorized casinos.

Illegal casino operators use advanced software to copy the look of legal gambling sites, complete with slick designs, cool animations, and fun user experiences that make players overlook the lack of rules or protections.

Drawn in by good odds and big bonuses, many players miss these red flags. Take Alex, for example, a young engineer who got hooked on high-reward online slot machines.

Soon, he was buried in debt and losing sleep, his digital wallet emptied, his personal info stolen, and he ended up alone and broke.

Alex's experience serves as a cautionary tale about the dangers of illegal online gambling.

Recommendation by BetterChecked

Illegal casinos often look like legal ones to trick people. Always check if the platform is legitimate before playing. You don’t want to bet your money on a sketchy website, right?

Are crypto casinos secure?

Illegal crypto casinos might promise quick gains and high returns, but they come with big risks for players. Unlike legal ones, these unregulated sites lack consumer protections, offering no way to resolve disputes, which puts players at risk.

The UK Gambling Commission found that 73% of players at illegal casinos had trouble getting their winnings.

Since these sites avoid accountability, players have no legal recourse when problems arise, making for a far from enjoyable experience.

Recommendation by BetterChecked

Illegal crypto casinos don't have consumer protections, so it's hard to solve disputes or get your winnings back. But who cares about security when you can risk losing it all for the excitement?

Scams and fraud are rampant in the cryptocurrency space, resulting in many players losing their investments when their accounts are suddenly closed and their funds disappear.

For example, one user lost 5 BTC, worth around $230,000 at the time, when the online casino they were using vanished overnight.

The lack of regulations in this space makes it easy for scammers to get away with players' money, creating an environment where they can operate with impunity.

Recommendation by BetterChecked

Scams happen a lot in illegal crypto casinos. So, make sure to use only regulated and trusted platforms. Losing your money to a scammer isn't the kind of excitement you want.

Legal trouble is another concern. Depending on your location, you could face fines, asset seizure, or even imprisonment.

In the US, for instance, over 1,200 people faced legal consequences for illegal online gambling in just one year, according to the National Council on Problem Gambling.

It's essential to consider the risks involved, as illegal online gambling can have serious repercussions.

Recommendation by BetterChecked

Playing at illegal crypto casinos can get you in big trouble, like fines and jail time. But hey, if you want free room and board in prison, go for it!

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Privacy and data security are significant risks associated with illegal casinos. Since they typically lack robust data protection, your personal and financial information is susceptible to being hacked or leaked.

In one notable instance, an illegal casino exposed the personal data of over 25,000 users, including their home addresses and wallet details.

Recommendation by BetterChecked

Illegal casinos often don't have good data protection, so your personal and financial info could be at risk. But hey, who cares about identity theft when you're chasing the excitement of breaking the law, right?

Experts stress the need for responsible gambling. Dr. Mark Griffiths, a well-known gambling researcher, suggests:

  • ->Setting strict budgets
  • ->Checking out trusted platforms
  • ->Knowing the signs of addiction

The National Institute on Money and Gambling found that 78% of problem gamblers were unaware of support systems, highlighting the importance of education.

Groups like BeGambleAware and the Responsible Gambling Council provide resources and help for gambling addiction. Additionally, tech helps too, with Gamban offering software that blocks gambling sites, both legal and illegal, adding extra protection.

Ignoring addiction signs and overspending can have serious consequences, making it essential to take proactive measures.

Recommendation by BetterChecked

Responsible gambling and using helpful resources can reduce the risks of both legal and unauthorized gambling.

This article was written, checked and verified by multiple authors to ensure maximum accuracy and up to date data. We strive for providing the best and most helpful resources about BetterChecked available.

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