Are no KYC casinos taking risks? - page 4.

jordanw21

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Quote from: masulum on September 20, 2023, 11:01:03 AM

KYC is not the point to determine whether it is risky or not. KYC is required by companies, but some casinos do not require full identity KYC beyond email and name. Share email and name this should not be a problem for not daily gamblers. I don't register at many casinos, but the casino I chose only requires an email number as a minimum KYC requirement for a maximum withdrawal of $8,000.

After all, many people think that KYC means sending national identity and a photo. even though sharing your email and name when registering is part of KYC. is there a casino that doesn't require minimal KYC like this?

As I'm aware, LTC Casino and Bitkong allow you to register under a fake name. I mean the real no KYC, when no one cares who you are and how much you win.

Also, there are some weird KYC procedures in new crypto casinos, and I'm not sure - do they really check you or not. For example, in Metaspins I experienced the same KYC as on Binance - passport + selfie check. I completed it in a few minutes, not sure what is the point of it - check if you are robot, or verify you.

The worst thing when you are looking for NO KYC casino - are affiliates, who tell you that bc.game is no kyc, metaspins no kyc, etc. For reactive gamblers, like me, it's a huge problem, as I register, play, and never check t&c. That's why I came to this forum - to get real reviews, not "high-standard" affiliate bs

Blitzboy

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Many people find gambling to be enjoyable, but when deception is involved, the game becomes less enjoyable. Casinos need to take precautions to protect its clientele and brand. KYC is the first step in that.

Not using KYC? That is a blatant red flag. It is analogous to a retailer not requiring a receipt for returns. It's just a matter of time until someone exploits that. Casinos need to understand that they're asking for trouble if they ignore these checks.

AML regulations are unchangeable. The possibility that some casinos are ignoring them raises questions over their registration status. Players should use caution, conduct thorough research, and only visit reliable websites.

Davidvictorson

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Quote from: Porfirii on September 20, 2023, 08:45:36 AM

Quote from: 348Judah on September 20, 2023, 06:27:51 AM

So you're saying that the no KYC casinos are rather not safe for us to use,
-snip-

On the contraty, I think that what the OP (correct me if I'm wrong) meant is that no KYC is not a safe practice for them (gambling platforms).

I think that it will depend on the jurisdiction they are licensed in, on one hand, and the citizenship of the players, on the other hand. If I'm not wrong, legislations among countries differ so much that there must be many exceptions to mandatory KYC. But I'm not any expert, it is just my perception.

If a non kyc casino operating in a jurisdiction where there are no strict anti-money laundering policy in place I could say they are safe however if they are region of operation is in a place where there is strict enforcement of the anti-money laundering regulations, then they are taking a huge risk. They will always be on the radar of enforcement agents and customers who have their funds there are even at a higher risks of losing their money too. Just to say that No kyc casino is a hub for attracting fraudsters with the intention to launder money without a trace.

masulum

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hmph..

KYC is not the point to determine whether it is risky or not. KYC is required by companies, but some casinos do not require full identity KYC beyond email and name. Share email and name this should not be a problem for not daily gamblers. I don't register at many casinos, but the casino I chose only requires an email number as a minimum KYC requirement for a maximum withdrawal of $8,000.

After all, many people think that KYC means sending national identity and a photo. even though sharing your email and name when registering is part of KYC. is there a casino that doesn't require minimal KYC like this?

jordanw21

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Quote from: coin-investor on September 20, 2023, 10:16:58 AM

Quote from: Crypt0Gore on September 20, 2023, 05:12:59 AM

Do you think your casino can be regulated without the AML policy? The requirements says it's all, so is it possible that those casinos doing their no KYC stuffs are not even registered?

I have not known of a casino that is regulated without the AML policy, it is their protection from people who will use their platform to wash their money it happened in the past and the casino industry will not let it happen again.

The gambling industry is a multi-billion dollar industry, and it needs protection, the AML policy is their protection so if you want to be in a safe environment you should play in a casino that is regulated, we have to accept KYC because it is part of being protected, and for the casino to protect themselves from cheaters.

NO KYC casinos may apply the following to protect themselves:
1) dumb x5-x10 (live) wager to your deposit rule
2) no bonuses rule

I think the first can be better than AML, and it's easy to spot for casino. For example, when someone dep $10k and play plinko for $1 bet for hours and then withdraw same amount and repeats this action every day for a month - casino'll probably lock that account.

Ziskinberg

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Quote from: coin-investor on September 20, 2023, 10:16:58 AM

Quote from: Crypt0Gore on September 20, 2023, 05:12:59 AM

Do you think your casino can be regulated without the AML policy? The requirements says it's all, so is it possible that those casinos doing their no KYC stuffs are not even registered?

I have not known of a casino that is regulated without the AML policy, it is their protection from people who will use their platform to wash their money it happened in the past and the casino industry will not let it happen again.

The gambling industry is a multi-billion dollar industry, and it needs protection, the AML policy is their protection so if you want to be in a safe environment you should play in a casino that is regulated, we have to accept KYC because it is part of being protected, and for the casino to protect themselves from cheaters.

Most of the regulated casinos require KYC, and these are linked to AML (Anti-Money Laundering) regulations. There may be a few that don't require it, as the regulations vary from one country to another. But when a casino requests KYC, we should not consider it a burden on our part. It's important to be realistic, as we are no longer in the early stages of crypto where we can enjoy complete anonymity.

Just try to realize, in the past, when there was no KYC, lots of scams happened. Now, with government intervention, it has been minimized.

coin-investor

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Quote from: Crypt0Gore on September 20, 2023, 05:12:59 AM

Do you think your casino can be regulated without the AML policy? The requirements says it's all, so is it possible that those casinos doing their no KYC stuffs are not even registered?

I have not known of a casino that is regulated without the AML policy, it is their protection from people who will use their platform to wash their money it happened in the past and the casino industry will not let it happen again.

The gambling industry is a multi-billion dollar industry, and it needs protection, the AML policy is their protection so if you want to be in a safe environment you should play in a casino that is regulated, we have to accept KYC because it is part of being protected, and for the casino to protect themselves from cheaters.

Accardo

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No kyc casinos are backed with crucial benefits, like secure privacy, that attract players to stake games with them. It's never simple to give out our information to casinos, the government need them to track some illicit activities, but on the player's side the repercussion is much. I'd say that a casino, should respect the government, yet anyone that wish to secure the privacy of their customer can follow with no KYC. And it's both for their benefits, and players who gamble there can also understand that such no kyc casinos have disadvantages. The casino can be closed by the government if need arises for disobeying the KYC policy. Offshore casinos hosted in isolated areas is capable of going no KYC with lesser risk of being banned by the government. When I see a no kyc casino I'd think of it that the casino for hidden backup or reasons for doing such. Maybe to garner more customers for the time being and comply if the government requires them to follow KYC policy. When playing in a no kyc casino, keeping funds on the casino can be very risky, because of the unpredictable intervention of the government.

edmundduke

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Depends on the place where it is located at and local law / what juristiction the casino wishes to operate in. For most of EU and US, KYC will most likely be mandatory IF the casino goes past a certain size. If the casino is small it will probably be fine and slip under the radar for a while (but this still means they migth get bent when found out lol)

Haunebu

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What the heck? Some of the posters above are lying about certain sites like Stake, Roobet etc not requiring KYC for small amounts. This is completely wrong information. They do require KYC at different stages for any amount.

For example, Stake needs KYC while depositing funds while Roobet needs KYC while registering on their site. Stop spreading misinformation!

cafter

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there are some casinos which are totally no KYC casinos which are also unregistered.
The big casinos like Stake, BCgame, Roobet, etc. allow us to play without kyc with small amounts, if we reached that small amount and want to play with big amount they will also ask for KYC.
they are running a business they employed many professionals who know the law better than casino owners and others. they think of these kind of things first.

Nwada001

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I notice that most of these online casinos that don't have KYC enabled on their platforms are either low-rate casinos that have a very small number of customers who are wagering huge amounts of money, and most of these casino owners also don't usually make their identities open to the public, which will make it a little difficult for regulators to go after them. Which government will go after a casino that is worth less than a fortune? Until the casino raises a lot of attention and gains a reputation, I think they can still operate without the disturbance of any regulations.

There are also some casinos that are licenced by regulatory bodies, which might enable the AML procedure, but they don't take it that seriously unless the need for it arises. Such people have at least the interest of their players at hand as they are trying to protect their identity in every possible way that they can.

But what's even the point of all this KYC? When I believe that the majority of the successful KYCs are not actually based on the ushers real identities but on those of others, they might have manipulated the required documents or purchased them from online dark web sellers.

rhomelmabini

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Quote from: Crypt0Gore on September 20, 2023, 05:12:59 AM

Do you think your casino can be regulated without the AML policy? The requirements says it's all, so is it possible that those casinos doing their no KYC stuffs are not even registered?

I think not, AML should be available if a casino is being regulated. Casinos having KYCs or being regulated will always be a win-win for both the casino and its players. I think these days it's rare if a casino is not doing any KYC and wasn't registered, that would conflict it tbh.

so98nn

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Finally someone with thoughts that match the current era rules and regulations. I am unsure how far things will get in the gambling world but we have a mixed crowd. There is one who prefers decentralized casinos and tries to stay away from the KYC process while there is another who wants to play on private casinos, but they also do not want to do KYC. In fact, when it comes to the KYC process they will actually start defaming that casino in the name of scams. Unfortunately, this leads the casino to refund them and forgive the KYC-related cases. That's definitely a bad thing but no one can do anything about it. Imagine how chaotic all this is.

Now coming to OP, imagine how this is gonna affect above mentioned cases. They are like haters in the mob who want everything in their favor. They want anonymous but they want to play on a centralized platform.

However, KYC has got real importance. We can also showcase our income and our investments, we can save any fraudulent activity if any casino goes scam and our funds are locked up. We can file suit in that case, what would peeps do if there is no documented evidence? This, they never gonna understand.

Bsky01

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This there really 100% no KYC casinos? In almost all i visited when you check the terms and conditions its stated that they can require an identity verification. I don't have example of licencied casinos who doesn't have this statement in their Terms and conditions.

Broadanbig

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I believe casinos doing a no KYC policy are fully aware of the consequences of their actions or possibly the repercussions of their acts. Most of them are anonymous and nobody knows about the identity behind them. Before you think of getting engaged with such casino, you must be prepared for whatever the outcome may be.

Governments of various nations that allows casinos to operate always demand that they do a KYC policy on their clients to have details of their identity so as to monitor their transactions and other activities. Casinos already know the consequences of their actions if they go against government policies when setting up that is why most of them choose to remain anonymous from the onset till they encounter any challenges before they shot down.

OP as you have said I have no doubt about your argument that casinos without KYC are not registered simply because of their identity to be hidden and not known to the government.

leonair

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Quote from: Maslate on September 20, 2023, 09:01:54 AM

Quote from: leonair on September 20, 2023, 08:55:27 AM

KYC is usually risky everywhere. Similarly gambling using gambling sites without Kyc is also risky.

I'm sorry, but it seems like you misunderstood the purpose of KYC. Actually, it would not be implemented if it did not help the government combat illegal online activities. It might be risky for some, especially for those planning to launder money using the casino. However, for those who are playing just for fun with no bad intentions, it's a way to protect them. Besides, our regulators are closely monitoring the casinos, and they won't allow them to abuse the gamblers. Therefore, if you are a victim of casino abuse, you can report it to the authorities and file a legal action against them.

KYC is very risky for those trying to launder money. But with that comes a lot of risk for the public like us that you have to accept. Because there are many gambling sites that will not hesitate to sell your documents on the black market and you should know what kind of work can be done using those documents if they are sold on the black market. So you can't guarantee that doing kyc is risky only for those trying to launder money and not risky for others. But you can say that kyc on reputable sites is less likely to cause trouble. But that is also not 100% guaranteed

Fivestar4everMVP

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From what I myself know and have observed, only unregistered casinos operate without requiring or requesting kyc from their users.

Every registered online gambling casinos must have some forms or levels of kyc implemented as that is a major requirement, any casino that claim to be registered and are not asking their players for kyc verification is either lying about their registeration, or taking a huge risk which could cost them a whole lots of money and possibly the business, if regulators catch them.

And so also, any casino running or operating without a licence or registration either is owned by a scammer, who just want to quickly get as much money as he could , then run away.
But on the other hand, any legit casino operating without registration or license, risk losing the business and paying heavy fine if caught my regulators .

RewFrew

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Some times KYC is very important many gambling site and some times it is not mandatory. Many gambling site need KYC for big amount withdrawal. Without KYC they Don't approve withdrawal. Because they want to confirm about real owner. But some gambling site Don't want KYC they think for KYC his important information will be publish and he will fall in risk.

But now web3 casino being without KYC and they submitting personal wallet directly. So i think there no need kyc. But for centralis casino site KYC mandatory.

Apocollapse

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Quote from: Crypt0Gore on September 20, 2023, 05:12:59 AM

Casinos neglect identity check but little did they know that they can be fined for it, if fraud cases arise from your casino and it's been investigated, your business is going away soon or you pay up for fine.

Before the no KYC casino get investigated by authority, they must have warned the casino to comply their regulation and there's a punishment if the casino not follow it. Remember, it must be a big casino since authority isn't care to regulate small casino because they don't have money.

99% of centralized sites will add KYC rule, only few of them will choose to shut down their sites e.g. mixer.

Topic: Are no KYC casinos taking risks? - page 4. (Read 495 times)