The vast majority of global citizens live and work within the same kind of broad system – what we like to call the global economy.

You earn a salary, and then spend it on various things, something that subsequently pours money into numerous other little bits of the economy.

Most of us live like this, completely unaware that lying beneath the surface is another completely different and hidden market – the black market.

This is principally governed by the global drugs trade, and is worth into the billions of dollars every year; yet nobody ever hears of it, and that is of course because it is illegal.

There is a hell of a lot of money to be made on the illegal black market. Pablo Escobar was reportedly raking in millions every single week, and it got to the point where he physically didn’t have space to keep all of the cash he was earning.

In the 21st Century things are slightly different due to the increased use of banking and digital transactions, but drug barons still have difficulties in finding where to keep their money. This is mainly because the money they have made is illegal and illegitimate, meaning that if they were to deposit it straight into a bank they would be caught out and punished.

Another method is needed… read ahead for an insight into whether or not people can engage in money laundering through online slots and playing other casino type games.

What is money laundering?

For the illegal players in the global market it can get incredibly difficult to legitimise their money, something you need to do if you want to be able to buy things normally. Money laundering is basically a method in which criminals can “clean” their money, making it appear entirely legitimate and obscuring the illegal past of where the money came from.

This can be done in various different ways, and criminals have been known to get rather creative indeed. One of the main ways in which they launder their cash is to buy a cover-up business such as a carwash or restaurant, and then filter through the black market money so it appears as earnings.

As we say, however, there are countless ways in which you can try to launder money, and criminals are getting more and more creative as the years go on.

Is it theoretically possible to launder money through online slots?

So then, is it theoretically possible launder money through online slots? In theory it is, however it isn’t the easiest route to go down if you want to launder money. The difficult part is being able to deposit “dirty” money on an online casino, because the vast majority simply would not stand for this.

Many criminals like to use cryptocurrencies for this, and as the online slot industry has started to embrace this method of exchange, they are having more luck than before.

When most criminals try and launder money through online slots they don’t even play an online slot game, it is more to do with the act of depositing money than anything else. On some sites you can deposit money, and then take it out as if it were online slot gambling earnings, therefore effectively “cleaning” your money.

The regulations in place to combat money laundering in online casinos

To the probable distaste of thousands of criminals across the world there are some pretty stringent regulations in place to combat money laundering through online casino in most countries in the world now.

Where criminals could once get away with things like the money deposit trick, there are now rules in place that mean this method is largely rendered impossible. This is why websites like Wizard Slots and their abundance of slot games are super strict on the regulations and ensuring every player abides by them.

In this case it is because there is a minimum amount you must spend on gambling before you can withdraw the deposit you have made with the majority of online casinos. An effective way of combating money laundering through online slots.

Can you launder money through online slots in reality?

There are certainly still ways in which criminals have managed to launder money through online slots – if you have millions of pounds waiting for you aren’t just going to give up on this, are you?

It is just the nature of the activity that it is very secretive, and if we knew how to do it the global authorities would quickly clamp down.