The online casino uses crypto loophole to lure back gambling addict

The online casino uses crypto loophole to lure back gambling addict

A recovering gambling addict lost $300,000 at an online casino after the website showed him how to use cryptocurrency to navigate banking restrictions and licensing laws. Australian Blake Barnard won his battle against gambling habits after his bank stepped in and canceled casino deposits. However, as detailed in an interview with ABC, when the online gambling platform Luckystar noticed the canceled deposits, they emailed Barnard and recommended that he try his visa or crypto. 

 Casino pointed out that Barnards Bank could not prevent you from depositing at the casino if they first convert your funds into cryptocurrency. He later traded $150,000 of his own money and $150,000 of his mother’s.

While gambling is allowed in Australia, providing internet gambling services like those found in a casino is unlawful. Due to this, many casinos provide their services through entities based offshore and outside of Australian law. 

Luckystar is registered in Curaçao, a country described by gambling experts as a place to get cheap and fast casino licenses. ABC spoke to reporters who claim it has “no regulation, no enforcement, no taxes at all.” The site also supports bitcoin deposits and reportedly uses a quick sign-up process without requiring users to enter their address or country. Barnard plans to take legal action against two online casinos in Curaçao, claiming they failed to recognize or prevent his gambling addiction. Luckystar did not respond to any of ABC’s questions.

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