What Else You Can Do
Other than a few select cryptocurrencies, there’s no such thing as an anonymous payment method.
Payment methods like Banks have a solid audit trail. They like to know where money has come from and where it goes. Anti-money laundering legislation is a requirement for all banks, so Know Your Customer policies are prevalent. If you open an account with a bank, you have to provide all sorts of personal information and financial data so they can prove you are who you say you are.
Payment processors, such as e-wallets, Skrill, and Neteller, are a different way of making and receiving payments. You can create and receive payments from within the same ecosystem or outside and fund your accounts from your bank account and credit card.
PayPal is an e-wallet hybrid of a bank and a payment processor. It’s an e-wallet tied to a bank. People often use PayPal as a go-between, where you take money from your bank, deposit it in your PayPal account, and then make a payment from your PayPal account. The merchant, on the other hand, does not have a direct connection to your bank details.
In some countries, PayPal issues a plastic card, which functions more like Skrill and Neteller.
PayPal is American, which means it has restrictive user rules and isn’t afraid to freeze the funds. At the same time, the account information and activity are probably an open book for every agency in the USA.
There are P2P exchanges that will swap money between two different systems. For example, buy Bitcoin with PayPal or move money from Skrill to EcoPayz.
Cryptocurrencies are usually more or less anonymous in their own right, but the trading platforms are heavily regulated. It’s almost like banks – or even more so because governments fear crypto. Also, the traditional monetary system readily tracks the transaction when cryptocurrency is exchanged for fiat currency.
People who want to avoid the regulatory regime associated with cryptocurrencies use wallets to store their crypto and own the private keys. But the casino will still have the player’s real name and other personal information. The transactions remain outside the traditional monetary system – as long as crypto isn’t converted into fiat.
Some large cryptocurrency exchanges issue plastic cards, but while it may seem this is an anonymous way to convert crypto to fiat, it is anything but.
As we already said, the crypto exchanges are heavily regulated, and the cards are in the Visa or Mastercard ecosystem, along with your name.
An ATM withdrawal will be anything but anonymous!
If you can avoid exchanging crypto for Fiat currency and stay within the crypto ecosystem, your transactions will avoid any bank or tax authority overview. Only the casino would be aware of the sums involved.