Illegal Betting Sites In Turkey Remain Popular Despite Government Ban

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Turkish Gambling Laws clearly state that gambling in any form, including online gambling is prohibited, albeit illegal betting sites (kaçak bahis) continue to operate. Apparently, online gamblers in the country rely on curation websites in looking for and finding the best online betting sites accessible to Turkish punters.

Turkey mosqueAlthough the Turkish government implemented measures that bar offshore online gambling websites from offering their betting products and options within the country, modern day technology makes it possible for such operators to accept gamblers from any country.

Easy Account Opening Method and Popular Deposit-Withdrawal Options

As a matter of fact, the so-called illegal betting sites are making it easy for Turks to register as members so they can open a gambling account. Anyone who wants to register can do so without the need to upload identification documents as proof of identity. Registrants need only to provide an email address and mobile phone number.

Once an account has been opened, the new member can deposit money to be used for gambling at the site. The good news is that the so-called illegal sites process deposits and withdrawal via different options popular in Turkey: such as Papara, Cepbank, money transfers and credit cards.

Papara is highly recommended because it is capable of processing fund transfers to e-wallets or banks in over 70 countries: including the US, the UK, Canada and European Union member countries. ,
Actually, many Turkey-facing online gambling sites are recommended by review websites that also curate and select based on offers of high betting odds and the most lucrative bonus offers.

Cryptocurrency as Gambling Money in Offshore Betting Sites

Cryptocurrency was initially banned as a payment method by the Turkish government during a 2021 announcement. Yet there seems to be a complete turn around because the most recent announcement is that the government plans to regulate and impose taxes on crypto money. starting 2024.

This denotes that if you are looking for a betting site that accepts a player willing to use his crupto money for betting, continue looking for crypto gambling sites as you’ll likely find one. Bear in mind that when using crypto money, the converted deposit value of the digital money will be based on an established price index.
That same price index will also prevail as the conversion rate in computing the equivalent Turkish Lira value of a withawn amount.

TurkeyThe reason why Türkey shifted its position toward regulating and imposing taxes on cryptocurrencies is based on statistical reports that the country currently ranks fourth in terms of cryptocurrency transactions. That being the case, it does not come as a surprise if online betting sites are among those that accept crypto money as deposit.

After all, the confidentiality attribute of blockchain transactions is quite useful when needing to enhance one’s anonymity when betting in gambling sites.

Why a Reliable Online Gambling Community is Important in SoKor

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Gambling entertainment for South Korean locals is quite precarious. SoKor gambling laws restrict casino gaming among its citizens only in Kangwon Land Casino. However, due to its remote location in Sabuk-eup, Jeongseon Gun, as part of a complex resort facility situated 883 above sea level, majority of SoKor’s gambling citizens prefer to stay at home and gamble online. Nowadays it’s more practical and convenient to gamble in online casinos by becoming a member of a 카지노커뮤니티, or a casino community.

Importance of Joining an Online Gambling Community in SoKor’s Gambling Arena

Due to the prevalence of unscrupulous operators of online casinos, responsible operators of eat and run verification companies have strategized by establishing a strong online community. Through a major and rich casino website that is full of reliable and trustworthy information, local SoKor gamblers can have access to safe casino platforms. Vetted and certified as safe playgrounds for online gambling entertainment, recommendations as a good casino, denotes not only safety. They also ensure worthwhile and worry-free online gambling engagements.

Aside from having protection against the hazards of gambling online, becoming a member of a reputable casino gaming community is valuable because members are directed to sites that have a lot to offer as gambling entertainment. Moreover, another important amenity of becoming a member of an online gambling community is the availability of customer services that can be accessed by way of an easy-to-navigate website.

A community of online casinos offer useful information about rich casino websites. An important trait we noticed about these online gaming sites is that they are first and foremost, aesthetically pleasing. The features are quite attractive, such as the live casino games streamed exclusively by Evolution Gaming to VIP members connected via a Virtual Private Networls (VPN).

Generally, vetted casino sites compete in vying for attention from local Korean customers. Many offering as much as 30,000 Korean Won as a Welcome Bonus. Some others give cashbacks to players who placed bets that did not yield wins.

Basically, a cashback is one way of convincing customers that the chances of recouping losses at their site are not lost. Since they are entitled to receive a percentage of their cumulative losses by way of cashbacks, they can still try their luck.

Lastly, a strong community of gambling websites can also provide information about online casino platforms that accept popular cryptocurrencies as deposit for wagers. Although customers should take note that crypto gambling works by establishing a specific price index as value of a customer’s gambling account.

Crypto gambling provides additional protection because customers using this betting method can make sure that under uncertain cirsumtance, they remain incognito from local Korean authorities.

How the UK Financial Authorities View Cryptocurrencies

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Unlike other countries in Europe, the UK doesn’t recognize cryptocurrency as a legal tender, which means gambling with crypto in the UK is a grey topic. At the very least, cryptocurrencies in the UK can be recognized as assets, which the owner can later sell or trade. However, the country’s Financial Conduct Authority (FCA) requires that all cryptocurrency exchanges must be registered with the FCA.

Moreover, cryptocurrency trading should not include financial derivatives, such as offering propositions on the future market price of a specific digital money.
Except for the FCA rulings, the UK government has no definitive legislation about cryptocurrency as a form of real property, if for purposes of protecting consumers. That being the case, it simply denotes that the British government cannot offer protection to those who insist on exchanging their hard-earned pound sterling for a specific sum of intangible crypto money.

Actually, there have been arguments against recognizing cryptocurrency as a form of real property. Experts in English law contend that there are two distinguishing factors that determine a property.The first is physical possession while the other is capability to enforce ownership over the property.
In 2019, the UK Jurisdictional Taskforce (UKJT) issued a statement that argues against applying strict interpretation of the definition of property. The task force argued that it is not suitable as there are strong grounds supporting the recognition of cryptocurrency as a legitimate property.

The UKJT concluded the tribunal on cryptocurrency by declaring the latter as a new class of asset, which professional financial advisors and litigators may include in determining a person’s overall wealth and asset portfolio, In addition measures mut be taken to protect such assets, or when taking action to seize them — being subject to the same treatment and enforcement rights on property. That being the case, several UK courts have issued freeze orders and temporary injunctions to preserve the value of cryptocurrency asset under litigation, prior to the issuance of a judgement.

Are UK Online Casinos Prohibited from Accepting Cryptocurrencies?

The UK specifically prohibits online casinos and sports betting sites to accept wagers derived through the use of credit card facilities. The ban was imposed ahead of the GamStop requirement, in order to stop the practice of borrowing money to place as wagers on online casino games or betting products.

As far as the acceptance of cryptocurrencies is concerned, the UK Gambling Commission states that the decision to do so is at the discretion of the online casino or sports book operator. While there are UK licensed online casinos that accept bitcoins or ethereum as deposit, such sites usually accept only those serviced by Paypal.

Still these UK casinos even if accepting cryptocurrencies are GamStop affiliated, which means one cannot gamble freely and without limit, lest he or she attracts attention as potential problem gambling behaviour.

Nevertheless, looking for the best uk casinos not with gamstop option, is the best alternative but have awareness that their online gambling platforms are licensed and regulated by offshore gaming regulators located in Gibraltar, Malta, Isle of Man, Curacao, Antigua or Barbados, which is just to name a few.

How Malaysia’s Cryptocurrency Regulation Affect Online and Mobile Casino Gambling

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Recent surveys show Malaysia’s government and people are quite interested in seeing cryptocurrency, particularly bitcoin, become widely used in the country. In recognizing the need to stay incognito while engaged in online gambling in Malaysia, remote gambling operators also offer bitcoin mobile casino sites. Staying anonymous when in remote gambling sites is of utmost importance since Malaysia still has not passed laws to regulate online gambling.

According to Malaysia’s leading cryptocurrency exchange site Luno, about 55% of those who responded to their survey are knowledgeable about blockchain technology. In addition, 39% of the survey respondents also indicated having ownership of at least one type of cryptocurrency.

That is why it isn’t a surprise at all why the government of Malaysia has already legislated a framework for regulating cryptocurrency transactions, particularly bitcoin (BTC). Since 2019, the Malaysian Securities Commission (MSC) has been designated as the primary regulator of cryptocurrencies. Mainly because under Malaysian laws, digital money are considered as investment assets when traded as securities.

What Does It Mean if a Cryptocurrency Exchange Operator is Licensed by the MSC

MSC’s regulations mainly focus on ensuring the protection of crypto money owners when trading their digital assets. That being the case, operators of cryptocurrency exchanges and providers of initial coin offerings (ICOs) are required to register with the MSC along with the submission of required documentations. Those found non-compliant with the basic requirements could face a 10-year jail term and pay fines of up to $2.4 million.

However, granting of authorization to operate as a cryptocurrency exchange is still subject to MSC’s assessment. Operators who do not meet the criteria, specifically in establishing their legal identities do not qualify, being an important requirement under international Anti Money Laundering laws. Other vital criteria include showing proof of the security measures instituted by the exchange operator, in protecting the digital assets of cryptocurrency investors.

As far as the MCS is concerned, the agency’s main concern is cryptocurrency trading, or buying and selling of cryptocurrencies. The use of digital money to pay for goods and services is not considered as trading transactions and therefore not subject to the scrutiny of the MCS.

That being the case, using one’s digital money to buy online casino chips or to place as deposit to one’s online casino account is not part of the transactions being monitored by the MSC.

Availability of Bitcoin ATMs in Malaysia

In Malaysia there are around 10 BTC-ATMs in operation, which allows Malaysian citizens to use cash when buying BTCs directly from an ATM. Although doing so requires payment of fees ranging between 5% to 10%, buying BTCs from an ATM is faster as the process does not require identity verification.

https://youtu.be/XO5JETToN6A

Anyone looking to use BTC as mode of payment for buying online casino chips or credits for online or mobile casino gaming, can simply buy BTCs to load in the digital wallet linked to their online or mobile gambling account. Among the trusted sites in Malaysia that accept BTC and other types of cryptocurrency as modes of payment are mega888, scr888, kiss918, 918kiss,, live22, and lucky palace, which is just to name a few.

How the Rise in Bitcoin Prices is Affecting Crypto Gambling Operators

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Crypto Gambling is simple enough for punters, but the continuing phenomenal growth of bitcoin has been complicating matters for bitcoin casino operators. As it is, the hazards of accepting bitcoins and altcoins as deposits are manifesting themselves in different ways.

Most crypto gamblers are realizing the practicality of holding on to their bitcoins and ethereum. As a result, they are now withdrawing their crypto deposits instead of letting them stay in their crypto gaming accounts.

After all, they would be better off trading their crypto money while the demand is still high; as opposed to staking them as betting money on high-risk casino games. Now here’s the thing, what if there are more requests for crypto withdrawals than crypto deposits? How will the occurrence affect crypto casino operators?

How Crypto Casinos are Affected by the Soaring Bitcoin Prices

On their part, bitcoin casinos have to meet the withdrawal request also in digital coins, so they can fulfill the “smart contracts” covering the agreement between crypto casino customers and operators.

https://youtu.be/880nEgSL1pc

However, the influx in crypto withdrawals and the absence of crypto deposits are draining the bitcoin casinos’ own BTC hoards.

As a consequence, some operators have no choice but to buy BTCs at the current high price, which today has soared way higher than many had anticipated.

The same trend is happening in Ethereum casinos, and in fact has greater effect. Mainly because ethereum (ETH) casino players have to pay fees to cover the costs of GAS associated with transactions processed in the Ethereum Virtual Machine (EVM). ETH miners require the GAS fees, and since the volume of ETH transactions is likewise increasing, the GAS costs are rising as well.

The Gas cost and the EVM are factors that distinguish the altcoin from BTCs. While crypto casinos accepting BTCs can have their transactions processed on a decentralized blockchain ledger, ETH involves processing via the decentralized ethereum blockchain machine. In order to have an ETH transaction processed securely and successfully in the EVM, payment of GAS fee or gwei that is equivalent to a small fraction of the ETH value to be processed, is required.

Yet ETH miners can refuse to process ETH transactions between crypto gamblers and casino operators if they think the fees they will collect, are not worth their time and trouble.

While there is still a lot to be understood about GAS fees and EVMs, a rise in the cost of ETH processing will likely result in the increase of GAS fees collected from ETH casino players. If so, ETH asset owners will think twice before using their ETH as gambling money. More so now that the altcoin is being anticipated as the next important crypto money after bitcoin.

Asia iGaming Boosted by Cryptocurrency Fintechs in Philippine CEZA

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Cryptocurrencies, one of the drivers of growth to online gambling in Asia, is now supported by numerous blockchain fintechs in the Philippine’s economic zone.

The Philippine government, which licenses and regulates offshore gaming operators that provide igaming technology and products in Asia, has provided the outsourcing companies with cryptocurrency support for its international wagering transactions. In fact, the free-trade Cagayan Economic Zone Authority (CEZA) established the “Crypto Valley of Asia” as part of its bid to become the first Asian economic zone to license, regulate and cultivate offshore virtual currency fintech companies.

In February 2019, Raul Lambino, CEZA Chief Executive had announced the approval of the first 10 blockchain platform providers for offshore cryptocurrency exchanges. To date, there are about 48 cryptocurrency fintechs licensed by CEZA, currently operating blockchain platforms in the “Crypto Valley of Asia,” According to CEZA Chief Raul Lambino, the blockchain platforms can engage in crypto-mining, raise funds by way of Initial Crypto Offerings (ICO) as well as participate in cryptocurrency exchanges.

However, Lambino stressed that exchanges of virtual currency into real money and vice versa, are allowed only for offshore cryptocurrency transactions. The CEZA Chief underscored the importance of observing this particular CEZA rule, in order to avoid infringing on Philippine regulations.

A Closer Look at a Cryptocurrency-Powered Asian Gaming Platform

One of the reasons why 918Kiss mobile gambling platform is a top favorite among Asian gamblers is because of its software, which also supports payments and rewards in digital currency. The Kiss Coin, which is the digital money that powers the 918Kiss cryptocurrency blockchain, also rewards those who will promote the use of Mastennodes for the igaming platform’s in-payment services.

In cryptocurrency operations, a masternode is the cryptocurrency wallet being used by participants in a cryptocurrency network. Masternode holders maintain a real-time up-to-date copy of the blockchain ledger.

The 918Kiss mobile gambling platform allows Masternode owners to stack a sizable amount of Kiss Coins to use as wagers, and to store winnings gained from their stakes. Moreover, all transactions appearing in the Kiss Coin blockchain are kept private. The Kiss Coin blockchain even allows users to send Kiss Coins to each other via the Private Send.

How to Become a Member of the 918Kiss iGaming Community

Readers who are interested in becoming part of the igaming world of 918Kiss should first download the application available at the official 918Kiss website. Apps are available for both Android and iOS supported smartphones.

https://youtu.be/3L7DCd0uNRo

 

After doing so, they have to register with the Support Desk, via Telegram or WeChat. In case a registering user does not have a Telegram or WeChat app, the website also provides the mobile application for these communication platforms.

Once the account info of the registering individual has been vetted and approved, the new member can download mobile applications for any of the numerous online casino brands hosted by the 918Kiss platform. Choose from any of the selections presented in the MENU section and proceed by downloading the corresponding app for the online casino brand.

Most new customers often proceed with a 918kaya, being one of the 918Kiss casino brands that have received favorable reviews for its highly successful mega-jackpot slots.

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