#FinCEN

Forbes

IRS Criminal Investigation Warns Illegal Gambling Isn’t A Safe Bet For Taxpayers

My fantasy football season is not off to a good start. In week two, I lost by 50 points-to my daughter, who does not watch football. Fortunately, we don't play for cash in our league, we only play for bragging rights. It is not, however, unusual for adults to gamble, even if it's only occasionally. Approximately 85% of U.S. adults have gambled at…

Law ・ 22 September 2023

Blockchain Reporter

Is Crypto Gambling Legal in the US?

Navigating the legality of crypto gambling in the U.S. is a complex task. The rules can differ significantly from state to state, making it essential for players and operators to be well informed. For a thorough understanding of the subject, this article has been expertly reviewed by specialists in the NJCasimile.com team. So, is crypto gambling…

Crypto ・ 29 August 2023

Novinite

Cryptocurrency Regulations in Online Gaming

The advent of blockchain and cryptocurrencies has taken the entertainment industry to a whole new level. These digital currencies have enabled the gaming world to reach more players worldwide by simplifying transactions between companies and gamers. However, even as more game designers continue to develop new crypto games, they constantly face the…

Crypto ・ 24 August 2023

Coin Codex

Evolution and Impact of No-KYC Crypto Casinos in Online Gambling

Gambling is a popular activity enjoyed by many, but often people prefer to keep it discreet due to its implications. There is no doubt that online gambling has transformed the way people engage with their favorite casino games, offering convenience and accessibility from the comfort of their own homes. However, concerns surrounding privacy and…

Crypto ・ 08 August 2023

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Madison

Latest updates about regulations of the gambling industry in the U.S. in 2023

Gambling has been a significant part of American culture since its inception, and the industry has grown and evolved over the years. The modern gambling industry in the United States is highly regulated, and the laws that govern it have changed over time. In 2023, there have been several updates about regulations of the gambling industry in the…

Law ・ 28 April 2023

The Wall Street Journal

As Online Gambling Grows, So Does the Financial Crime Risk

Online gambling is booming across the U.S. and compliance experts caution that it creates opportunities for criminals to launder money or take part in other financial crimes. The U.S. has seen states pile into legal online gambling with fervor, eager for potential tax revenue. Since 2018, when the U.S. Supreme Court struck down a ban on sports…

Incidents ・ 01 December 2022

The Jerusalem Post

Online gambling growth sees increase in financial crime risk

Authorities in the US and across the world have always spoken of the risk of money laundering that comes with gambling. The reasons are not hard to identify - gambling involves cash and is a good way for criminal elements to whitewash illegal earnings. The boom that online gambling is experiencing in the US currently raises concerns that it could…

Industry ・ 15 September 2022

FinTech Global

How to ensure casino compliance

As an industry that is constantly bringing in new customers and transactions, the casino sector is a key target for criminals and money launderers, claims Alessa. Due to this appeal, casinos have become one of the most heavily regulated businesses in operation. These regulations, Alessa claims, while necessary - can be difficult to understand and…

Trust and Safety ・ 31 August 2022

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The Nevada Independent

Indy Gaming: Nevada casino regulators call cryptocurrency a ‘complex’ topic

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Volatile pricing fluctuations that can…

Land-based ・ 01 June 2022

The Nevada Independent

Experts: Nevada’s casino industry can’t ‘bury its head’ over cryptocurrency

Derek Stevens wasn't sure how his customers would respond eight years ago when he began accepting Bitcoin for select non-gaming transactions at the D Las Vegas and Golden Gate. He thought guests would use the digital currency for splashy purchases, such as hotel rooms or meals at the D's American Coney Island and Andiamo Italian Steakhouse.…

Industry ・ 28 February 2022

Gambling News

Nevada Considers Remote Registration for Cashless Casino Play

Nevada could soon allow remote registration and ID verification for cashless payment accounts in state casinos. This would help reduce the bottlenecks customers face when trying to sign up in person. On Thursday, the Nevada Gaming Control Board (NGCB) held an afternoon workshop for 70 minutes to discuss the proposal, which received some support…

Gaming Authorities ・ 23 November 2021

Nevada Current

Casino rule change would allow cashless gambling minus in-person ID check

Nevada regulators are considering a rule change to allow casino patrons to sign up for cashless payments on table game bets, slot machines and hotel purchases without physically presenting identification. The change would not apply to betting on sporting events or racing. Current law allows patrons to set up and fund cashless betting accounts…

Gaming Authorities ・ 23 November 2021

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Gambling News

Sightline Argues the Case for Remote Verification in Nevada Casinos

Cashless payments were all the rage during the pandemic, and the momentum such solutions gathered during 2020 and the better part of 2021 may finally be transforming them into a permanent part of the casino gambling landscape in places such as Nevada. A proposal by Sightline Payments, an expert in the delivery of such technology, was heard by…

Land-based ・ 23 November 2021

Gambling News

FinCEN Loosens Regulations Concerning Casino ID Verification

The Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department is bringing good news to casino customers as it loosens the regulations concerning ID verification. On Wednesday, FinCEN stated that the use of non-documentary means in order to ID their visitors will be permitted. Before this new regulation, casino staff were required…

Trust and Safety ・ 22 October 2021

PYMNTS

Stopping Fraud in the Online Gaming Marketplace

Big business, online gaming and gambling became even more popular during the pandemic as consumers sought entertainment at home. Players worldwide signed on in droves, and the online gambling market is predicted to rise from approximately $64 billion in 2020 to more than $72 billion in 2021, a growth rate of 12%. In-game assets for digital gaming…

Trust and Safety ・ 21 October 2021

The Nevada Independent

Digital and cashless gaming technology viewed as bringing casinos into the 21st century

Cashless gaming has been used on slot machines throughout the casino industry for at least two decades, although it wasn't initially accepted by customers. When the original systems, dubbed ticket-in/ticket-out, were introduced, they confused older slot players, who didn't understand why winnings came out in the form of a ticket voucher, rather…

Gaming Authorities ・ 07 May 2021

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