Moonbet Founder Urges People to Check These Things Before Depositing Money in an Online Casino

In a world of flashing banners, “instant win” screens and crypto-wallet integrations, the online-casino landscape has never looked more exciting. 

But beneath the glitz lies a sobering truth: the number of scam sites in the online gambling realm is escalating, and many unsuspecting players are losing deposits, winnings, even personal data.

Below, we’ll explore why scams are rising, the warning signs to look for, and how to shield yourself, based on recent industry data, user warnings, and real-world howlers.

Why are online casino scams rising?

A recent study by Better Business Bureau (BBB) titled “2025 Gambling and Gaming Study” reveals some alarming trends:

• From 2022 through mid-2025, the BBB has collected almost 200 scam reports and over 10,000 business complaints related to online gambling and gaming.
  
• Many complaints centre on poor transparency: sites with unclear terms, delayed or blocked payouts, or operators that vanish. For example:
  “This appears retaliatory and unprofessional,” said one woman who lost $25,000 playing an unlicensed casino.
  
• One of the biggest risks: casinos operating in a regulatory grey zone not licensed in a meaningful jurisdiction, targeting users globally, with little recourse if things go wrong. 

Why the rise? A few factors:

• The growth of cryptocurrency and blockchain tech has lowered barriers to create gambling sites that accept crypto, potentially outside traditional oversight.
  
• The online-gambling industry is booming (estimated at over $100 billion in the US alone by 2025). 
• Scammers and bad actors take advantage of social-media ads, shiny welcome bonuses, and players chasing high payouts without doing due diligence.
  

Simply put: more money flowing, more players looking for quick wins, and more opportunities for shady operators to set traps.

What are the common red flags?

Let’s break down some of the most common warning signs that an online casino might be a scam or at least high risk. These are drawn from industry piecing together user-reports, forums, and the BBB data.

a) Unbelievable welcome or “no deposit” bonuses

Players love free money. But as one Reddit user put it:

“PSA: Remember, almost all online bonuses are scams to guarantee a loss on your deposit.” (Reddit)
In other words: sites dangle large bonuses, “free spins”, “no deposit required” offers but bury them under massive wagering requirements, unfair terms, or conditions that make withdrawal near impossible.

b) Lack of transparent licensing or regulation

A site operating without visible regulation or in a jurisdiction with weak oversight is a big risk. The BBB warns:

“Illegal gambling websites and other grey-market gambling offerings can pose serious risks … they operate outside the protections of regulated markets.”

If you can’t find a valid gaming licence (or the site refuses to tell you), that’s a major red flag.

c) Difficulty withdrawing winnings

Many scams run fine until you win then the trouble starts. For example:

“My first thought was depositing another $500 … So I played … I won $4k. Again, went for withdrawal and now it has told me that I need to deposit $50 … You know where this is going.” (Reddit)
When a site forces you to jump through endless hoops, extra deposits, “verification fees”, unrealistic wagering. that’s often how you get stuck.

d) Fake or manipulated game outcomes

One Reddit thread bluntly stated:

“Every online casino that looks like this is a SCAM. Every single one, regardless of the brand name or website URL. Do not deposit your money.”
Rigged games, manipulated software, hidden house edges, legit casinos don’t try to hide fairness.

e) Tiny print, confusing or absent terms & conditions

Scams often rely on players not reading or understanding the fine print. Whether it’s non-withdrawable bonuses (“sticky” credits) or absurd requirements, transparency is key. According to Wikipedia’s online casino overview:

“Many online casinos offer sign-up bonuses … but wagering requirements mean that the player cannot simply walk away with the casino’s money immediately after claiming the bonus.” 

What questions should you ask?

Moonbet founder’s message is not to jump in blindly. The same due-diligence rules that apply to any online casino apply to Moonbet. For example:

• Do they have a transparent, verifiable licence in a trusted jurisdiction?
  
• Are the game outcomes independently audited?
  
• What is the process for deposit and withdrawal? Are funds segregated?
  
• What are the terms attached to bonuses (if any)?
  
• Are they operating legally in your country or state?
  

Until you can answer those questions convincingly, treat any “crypto casino” the same way you’d treat an unlicensed site with caution.

How to select a safe online casino: checklist you should use

Here’s a practical checklist to run through before you deposit money. Use this as your internal filter.

1. Licence and regulation
   • Does the site show a licence number from a recognised regulator (UKGC, MGA, Curacao, etc.)?
     
   • Can you independently verify the licence on the regulator’s site?
     
   • Is the site open about its corporate identity, ownership, and where it’s registered?
     
2. Transparency of terms & conditions
   • Are the wagering requirements clearly stated? Are they reasonable?
     
   • Are withdrawal rules, bonuses rules, time limits clearly spelled out?
     
   • Are game RTPs disclosed? Are providers named?
3. Withdrawal process
   • Does the casino support withdrawals in your currency or via your bank/crypto wallet?
     
   • Are there reports from other users about delays, blocked withdrawals or extra deposit demands?
     
   • Are player funds segregated (so they’re not used by the casino for business)?
     
4. Fairness & game provider credibility
   • Does the casino host games from known providers (e.g., NetEnt, Microgaming) or are they all “proprietary”?
     
   • Is there an independent audit of game fairness (RNG, blockchain transparency)?
     
   • Are the RTP claims plausible and verifiable?
     
5. Bonus offers – especially caution with “no-deposit” or huge “free” bonuses
   • Be especially wary of “no deposit required” bonuses — many scams use them to attract you and then hit you with hidden conditions.
     
   • Check how easy it is to withdraw bonus-related winnings.
     
   • As one Redditor said:
     “Almost all online bonuses are scams to guarantee a loss on your deposit.”
     
6. Payment and crypto method clarity
   • Are deposits and withdrawals handled through trusted providers/banks or only via obscure crypto wallets?
     
   • Is there full transparency about gas fees, conversion rates, wallet risks?
     
   • If using crypto, be sure you understand wallet security, self-custody, and blockchain-based risks.
     
7. Reputation and user reviews
   • What are the forums (Reddit, r/gambling), review sites saying?
     
   • Are there many complaints about the site in question?
     
   • Does the site engage in user complaints, customer support, transparency?
     
8. Legal status in your jurisdiction
   • Online gambling is regulated differently in every state/nation. According to BBB:
     “Because of the patchwork of laws … someone may engage in activities that are lawful in one state but illegal in another, creating legal and regulatory risks.”
     
9. Responsible gaming features
   • Legitimate platforms will offer self-exclusion, deposit limits, clear support for problem gambling.
     
   • If these are missing or hidden, you may be dealing with a site that cares more about your money than your well-being.
     

Final thoughts: Play smart, stay safe

We live in an era where online casinos are everywhere. The convenience is appealing; the promise of big wins is seductive. But the data and user forums suggest a very real caveat: a growing number of sites are operating with little oversight, or worse, with malicious or exploitative intent.

If you choose to play, remember:

• Depositing money should always be intentional and informed.
  
• Don’t let flashy bonuses override your judgement.
  
• Read the fine print. Ask questions. If you can’t verify licence info, walk away.
  
• Treat cryptocurrencies wisely they can help, but they also reduce your safety net.
  
• Most importantly: bet only what you can afford to lose.

Because once the money goes in, reversing a mistake is vastly harder than there is on the front end. And as BBB concludes:

“Consumers should be especially wary because many illicit casinos and sportsbooks operate in this grey area and offer no protection or customer support if something goes wrong.”

Your entertainment doesn’t have to come at the cost of your financial security. Choose wisely, stay alert, and ensure that when you play, you’re doing it on your terms not the scammer’s.

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