Pre-Verified Accounts for Crypto Casinos for Sale on Social Media Platforms

Staying compliant with advertising rules on social media can sometimes be tricky, especially with products that have to do with online gambling. Stringent rules mainly apply to companies, both operators and affiliate companies, however, individuals manage to exploit certain loopholes and trick the system, opening room for gambling-related harm to occur.

Having analyzed hundreds of ads on social media websites, SkyNews, a reputable news portal, discovered countless offers for pre-verified accounts for crypto casinos, aimed at players from the UK. Worth noting is that gambling with Bitcoin, Ethereum, Litecoin, Tether, or any other crypto asset is neither legal nor regulated in the United Kingdom, which opens room for a potential increase in irresponsible gambling practices.

According to activists dedicated to raising the awareness on dangers of illegal and irresponsible gambling behavior, crypto casinos are attractive to vulnerable groups, namely underage people and those with gambling disorders.

Are Crypto Casinos Permitted to Operate in the UK?

Before sharing the insights of the investigation conducted by SkyNews, let’s once again address the legality of online gambling in the United Kingdom, in particular crypto gambling. 

Regulated and supervised by the Gambling Commission, gambling in the UK is permitted, provided that certain requirements are met. One of the main conditions online operators interested in offering games to UK players need to meet is to be licensed by the Commission. Those include stringent advertising policies, and rigorous rules for bonuses and rewards programs, among all.

As mentioned in the intro, cryptocurrency gambling is still not officially approved in this jurisdiction, yet people are trying to find a way to access crypto-friendly sites. The popularity of such platforms is on the continuous rise all over the globe, mostly thanks to gambling influencers, among which rapper Drake.

Investigation Has Brought Shocking Discoveries

Sky News team not only did a thorough analysis of the advertisements on social media platforms but also reached out to the sellers and buyers for more first-hand information.

Available predominantly on Facebook and Discord but also on TikTok, Telegram, Reddit, and X (formerly Twitter), these ‘ready-to-gamble' crypto casino accounts are sold for surprisingly small amounts of money.

These accounts allow UK players to get around the barriers and simply log into the account, deposit, and play, without having to register and submit personal information. To explain it in detail, casinos accredited by the UK gambling regulator require players to go through an ID verification process.

Most often, they are required to submit an image of the photo ID (passport, driver's license, or similar) so that the operator can be sure that a client is located in the country where gambling is legal and regulated. The accounts offered on versatile social media platforms come with a verification stage already finalized.

Basic accounts can be purchased for a couple of dollars only, whereas premium ones (with active cashback and certain incentives), come at a higher cost- we’re talking thousands of dollars.

These accounts are not offered on behalf of an individual associated with the casino, but by gamblers who are trying to get rid of the account after gambling away all their funds. The biggest number of these basic and premium accounts are for Stake Casino, one of the fastest-growing crypto gambling platforms.

Do Operators and Social Media Sites Endorse These Accounts?

After being contacted by Sky News, Stake Casino said they are aware of fraudulent attempts to access their website, adding that they are putting non-stop efforts into blocking behavior like this. The corporation has no links with social media groups that are advertising the accounts in question.

As a matter of fact, the operator invests significantly in detecting and preventing problem gambling. What needs to be mentioned is that Stake Casino is certified to operate in numerous countries, as it possesses a Curacao license. In its Terms and Conditions, it explicitly states that UK players are not permitted to register and play.

On the other hand, the company has its UK-faced site, approved by the Gambling Commission, where it reads:

“3.1 During Your Registration requesting participation in the Services, by ticking the box 'I am over 18 years of age and have read and understood the Privacy Policy and Terms and Conditions', You acknowledge and agree that:

(a) You are older or of the age of 18 and are a United Kingdom Resident.”

Paying attention to the list of payment methods on the Curacao-licensed site, players shall notice an extensive selection of crypto assets, among which Bitcoin, Litecoin, TRON, Ripple, Dogecoin, and so on. Contrary to that, the UK-certified variant offers debit cards (VISA, MasterCard) and e-wallets (Skrill, Neteller).

As for the social media sites, TikTok, Reddit, Discord, and Meta, the owner of Facebook, removed the accounts after being contacted by Sky News.

Pointing out that the safety of users is the company’s top priority, Meta spokesperson said:

"We don't allow scam adverts and we have removed the ads brought to our attention for violating our policies."

No comments arrived from Telegram and X, formerly known as Twitter, though.

Source:

“Access to illegal crypto casino sites for sale on Facebook and Discord for as little as £8”, news.sky.com, January 31, 2024.