Crypto-Casinos and KYC | Bitcointalksearch.org

Fatunad

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Quote from: Maslate on July 08, 2021, 04:00:46 PM

Quote from: KTChampions on July 07, 2021, 02:15:08 PM

Quote from: poldanmig on July 07, 2021, 12:41:41 PM

I think KYC is a very important thing for an official casino that already has an official license from a government, in addition to keeping users safe both in withdrawals and also deposits of money, kyc can also be a way for the government or the casinos themselves to prevent underage gambling from happening because in my opinion underage gambling is a very sensitive subject in the gambling industry and there are no casinos legitimate ones who wish to promote it in any way. However, we still have to make sure that the casino that asks for the KYC has a valid permit and is supervised by the authorities of a country so that the data we provide will remain confidential.

Are you talking about crypto casinos or those that use fiat? They have fundamentally different ideologies, and even if you just think logically, there is no point in using cryptocurrency in a casino that is completely in the legal field. But since we use crypt, then we have our own special expectations from the casino and we clearly do not want KYC and other procedures imposed by the government.

That's our expectations but things have changes already since crypto casinos now can demand KYC already. Lots of crypto casinos that state they demand KYC, but we also see a lot of crypto casinos that does not demand any, so we have a choice, but we can never say that crypto casinos do not demand KYC as it still depends on their regulators, and they just have to follow in order for their business to operate legally.

Wont really have any choice if those casinos would be imposing new rules or terms when it comes on asking kyc just because they had mandated to do so and as a business then its just normal
that they would really be abiding with the rules since the business would really be at stake on here and if we do hate up KYC then we can always switch up to another one and if we do consider on how
many casinos that we do have then i can say that there would be no shortage in terms of that because there are lots of choices for you to do so.
If you are really that badly like on the site you are currently playing and suddenly make out those changes then you do need to deal with the terms.

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Quote from: KTChampions on July 07, 2021, 02:15:08 PM

Quote from: poldanmig on July 07, 2021, 12:41:41 PM

I think KYC is a very important thing for an official casino that already has an official license from a government, in addition to keeping users safe both in withdrawals and also deposits of money, kyc can also be a way for the government or the casinos themselves to prevent underage gambling from happening because in my opinion underage gambling is a very sensitive subject in the gambling industry and there are no casinos legitimate ones who wish to promote it in any way. However, we still have to make sure that the casino that asks for the KYC has a valid permit and is supervised by the authorities of a country so that the data we provide will remain confidential.

Are you talking about crypto casinos or those that use fiat? They have fundamentally different ideologies, and even if you just think logically, there is no point in using cryptocurrency in a casino that is completely in the legal field. But since we use crypt, then we have our own special expectations from the casino and we clearly do not want KYC and other procedures imposed by the government.

That's our expectations but things have changes already since crypto casinos now can demand KYC already. Lots of crypto casinos that state they demand KYC, but we also see a lot of crypto casinos that does not demand any, so we have a choice, but we can never say that crypto casinos do not demand KYC as it still depends on their regulators, and they just have to follow in order for their business to operate legally.

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Quote from: poldanmig on July 07, 2021, 12:41:41 PM

I think KYC is a very important thing for an official casino that already has an official license from a government, in addition to keeping users safe both in withdrawals and also deposits of money, kyc can also be a way for the government or the casinos themselves to prevent underage gambling from happening because in my opinion underage gambling is a very sensitive subject in the gambling industry and there are no casinos legitimate ones who wish to promote it in any way. However, we still have to make sure that the casino that asks for the KYC has a valid permit and is supervised by the authorities of a country so that the data we provide will remain confidential.

There is something to note about this topic, first of all, nobody likes to give their data and details because there are many who are fascinated by privacy and anonymity, when it comes to requirements imposed by a government, people are usually irreverent , and most licenses limit. the freedom of the people, that is, that is when the restrictions and prohibited countries come out, in addition, the authenticity of a casino is compromised by not having said licenses, since they begin to suspect the confidence of the casino, in this case, I believe that it is the greatest of all obligations on the part of the casino to follow the KYC requirements, although it is not fair, unfortunately casinos must follow some rules and those are the ones imposed by KYC.

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Quote from: poldanmig on July 07, 2021, 12:41:41 PM

I think KYC is a very important thing for an official casino that already has an official license from a government, in addition to keeping users safe both in withdrawals and also deposits of money, kyc can also be a way for the government or the casinos themselves to prevent underage gambling from happening because in my opinion underage gambling is a very sensitive subject in the gambling industry and there are no casinos legitimate ones who wish to promote it in any way. However, we still have to make sure that the casino that asks for the KYC has a valid permit and is supervised by the authorities of a country so that the data we provide will remain confidential.

Are you talking about crypto casinos or those that use fiat? They have fundamentally different ideologies, and even if you just think logically, there is no point in using cryptocurrency in a casino that is completely in the legal field. But since we use crypt, then we have our own special expectations from the casino and we clearly do not want KYC and other procedures imposed by the government.

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Quote from: just_Alice on July 06, 2021, 06:59:05 PM

Why do you think it's the government that forced to demand KYC? IMO it doesn't make any sense because numerous unlicensed casinos still require KYC verification, and the fact that this requirement comes upon big wins, especially with bonuses makes it even more strange. Why would the government care who uses the bonuses and who wins what?

I think KYC is a very important thing for an official casino that already has an official license from a government, in addition to keeping users safe both in withdrawals and also deposits of money, kyc can also be a way for the government or the casinos themselves to prevent underage gambling from happening because in my opinion underage gambling is a very sensitive subject in the gambling industry and there are no casinos legitimate ones who wish to promote it in any way. However, we still have to make sure that the casino that asks for the KYC has a valid permit and is supervised by the authorities of a country so that the data we provide will remain confidential.

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Quote from: just_Alice on July 06, 2021, 06:59:05 PM

Why do you think it's the government that forced to demand KYC? IMO it doesn't make any sense because numerous unlicensed casinos still require KYC verification, and the fact that this requirement comes upon big wins, especially with bonuses makes it even more strange. Why would the government care who uses the bonuses and who wins what?

The way I see it and the way @harizen described it and I think he's probably right, is that KYC is something casinos want for themselves and many use it to, basically, create a huge pain in the ass in order to withdraw funds after big wins. Indeed, I know several cases where people just gave up hundreds of $ on their balance because they've had a really hard time passing the KYC verification, with numerous naggings, rejections, which eventually led to unsubstantiated bans.

On a positive note, not all casinos are like that, sometimes KYC goes very easily and smoothly, with no funny business involved.

Not good with this kind of discussion but I see your point, why do government will ask for something that in the first place they are not involve with,

speaking about those big winnings from the casinos and when you are in the process of withdrawing those money.

Not for the government but for the house to have more time to investigate and see if there's some lapses with your accounts, maybe they are taking some time to delay the payments just saying. Roll Eyes

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Quote from: just_Alice on July 06, 2021, 06:59:05 PM

Quote from: Silberman on July 05, 2021, 05:25:38 PM

Quote from: harizen on July 03, 2021, 07:20:19 AM

Quote from: just_Alice on July 02, 2021, 06:29:11 PM

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

Well unfortunately things change, at the beginning when the gambling industry on this market was just starting out they could get away with not asking for KYC, but once they became big enough the governments came knocking at their door and forced them to do it, this is nothing new and this is something governments do all the time, but fortunately things are not so bad, if you are just a recreational player gambling in a casino that cares about their customers then most likely you will not have to go through any KYC process, but if you are using a lot of money or win a lot of money then this could be something inevitable you will have to go through.

Why do you think it's the government that forced to demand KYC? IMO it doesn't make any sense because numerous unlicensed casinos still require KYC verification, and the fact that this requirement comes upon big wins, especially with bonuses makes it even more strange. Why would the government care who uses the bonuses and who wins what?

The way I see it and the way @harizen described it and I think he's probably right, is that KYC is something casinos want for themselves and many use it to, basically, create a huge pain in the ass in order to withdraw funds after big wins. Indeed, I know several cases where people just gave up hundreds of $ on their balance because they've had a really hard time passing the KYC verification, with numerous naggings, rejections, which eventually led to unsubstantiated bans.

On a positive note, not all casinos are like that, sometimes KYC goes very easily and smoothly, with no funny business involved.

That could be some of the reasons that we have to consider, have to put it this way if a casino is really required to impose KYC on its clients, then it should not be limited to some people only, and their policy should be based on what the regulators impose to them to implement.

Win big and you'll be required with KYC, isn't it disappointing? I mean, instead of aiming to win big, we have some doubts that if we win we might not be able to pass the KYC because we might fail, this should also be looked up as I've seen a lot of cases where people make a scam accusation on a site because they are suspected cheating or the accounts have abnormal movement, hence they are required and KYC and did not pass.

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Quote from: Silberman on July 05, 2021, 05:25:38 PM

Quote from: harizen on July 03, 2021, 07:20:19 AM

Quote from: just_Alice on July 02, 2021, 06:29:11 PM

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

Well unfortunately things change, at the beginning when the gambling industry on this market was just starting out they could get away with not asking for KYC, but once they became big enough the governments came knocking at their door and forced them to do it, this is nothing new and this is something governments do all the time, but fortunately things are not so bad, if you are just a recreational player gambling in a casino that cares about their customers then most likely you will not have to go through any KYC process, but if you are using a lot of money or win a lot of money then this could be something inevitable you will have to go through.

Why do you think it's the government that forced to demand KYC? IMO it doesn't make any sense because numerous unlicensed casinos still require KYC verification, and the fact that this requirement comes upon big wins, especially with bonuses makes it even more strange. Why would the government care who uses the bonuses and who wins what?

The way I see it and the way @harizen described it and I think he's probably right, is that KYC is something casinos want for themselves and many use it to, basically, create a huge pain in the ass in order to withdraw funds after big wins. Indeed, I know several cases where people just gave up hundreds of $ on their balance because they've had a really hard time passing the KYC verification, with numerous naggings, rejections, which eventually led to unsubstantiated bans.

On a positive note, not all casinos are like that, sometimes KYC goes very easily and smoothly, with no funny business involved.

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Quote from: Silberman on July 05, 2021, 05:25:38 PM

but once they became big enough the governments came knocking at their door and forced them to do it, this is nothing new and this is something governments do all the time,

For real mate? I'm not aware if a crypto gambling site already imposed with that policy. What are those sites that become big now and government ask them to do KYC to their users?

Is this really happen on a crypto-gambling websites? KYC is a bad practice if a user just wants to play on a certain site. It's hard to attract gamblers if upon registration, they will ask to undergo KYC.

Gamblers are everywhere and before picking a site, they are testing it first. KYC will be their obstacles so if they found a site that is like that, they will skip using it without even testing.

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Quote from: harizen on July 03, 2021, 07:20:19 AM

Quote from: just_Alice on July 02, 2021, 06:29:11 PM

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

Well unfortunately things change, at the beginning when the gambling industry on this market was just starting out they could get away with not asking for KYC, but once they became big enough the governments came knocking at their door and forced them to do it, this is nothing new and this is something governments do all the time, but fortunately things are not so bad, if you are just a recreational player gambling in a casino that cares about their customers then most likely you will not have to go through any KYC process, but if you are using a lot of money or win a lot of money then this could be something inevitable you will have to go through.

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Quote from: just_Alice on July 03, 2021, 11:45:58 AM

Quote from: harizen on July 03, 2021, 07:20:19 AM

~snipped~

I don't think so, normally I'd also choose the option with no KYC verification, but in case you receive bounties and large bonuses from the casino, which helped you to gain a lot of profit - I think that's the action one should be willing to take, especially if this request was indicated in the ToS, that's all I'm saying.

Got the picture as even without reading the TOS of that bonus, it's expected that for every "BIG WINNINGS", there might be a possible request for a KYC verification. However, in most cases, even a user already complied with the KYC just to get those winnings, there's still a problem later on.

As for the post I have quoted from you "why people are angry or skeptical about these KYC" because the process will not end there. The site might probably tell that user of another violation of the terms and the next thing that will happen, you should already know.

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Quote from: tabas on July 04, 2021, 05:35:23 AM

Quote from: Text on July 03, 2021, 05:06:51 PM

The exchanger system is different in the casino. I understand better why KYC needs to be required especially with its P2P trading feature, the main reason is to prevent someone from being scammed. And because they also have a side to being centralized they support bank transfers and other fiat e-wallets. When you submit a KYC to them it means that you trust the company, we know that the company and their reputation are verified. On gambling sites, I understand others so they don't want KYC because they want to hide because if online gambling is illegal in their country especially if they really want to play even though they know it's illegal so they make a way.

And it's not just about the reason to know if the player is playing on a country that has prohibited gambling and classified it as illegal.
But it's also that the gambler don't want to simply send his information to the casino, knowing that this guy is playing on their platform and has to send his identification to them.

That's why we choose a crypto casino because we think we can play without submitting our personal information, if all the crypto casinos will require a KYC, then it's wiser to play with fiat casinos since they are more secured and most of them have operated for a long period of time already and their details are more transparent than a crypto casino.

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Quote from: Text on July 03, 2021, 05:06:51 PM

The exchanger system is different in the casino. I understand better why KYC needs to be required especially with its P2P trading feature, the main reason is to prevent someone from being scammed. And because they also have a side to being centralized they support bank transfers and other fiat e-wallets. When you submit a KYC to them it means that you trust the company, we know that the company and their reputation are verified. On gambling sites, I understand others so they don't want KYC because they want to hide because if online gambling is illegal in their country especially if they really want to play even though they know it's illegal so they make a way.

And it's not just about the reason to know if the player is playing on a country that has prohibited gambling and classified it as illegal.
But it's also that the gambler don't want to simply send his information to the casino, knowing that this guy is playing on their platform and has to send his identification to them.

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Quote from: mv1986 on July 04, 2021, 04:35:04 AM

The big guys do the surveillance on the small guys, but the small guys have no chance at all to see what's going in all the tax paradises. We can just be happy if journalism helps out like in the case of Panama Papers. Otherwise we wouldn't even have a glimpse of what's going on.

It is well said and I agree with you. Small fish are easier to push around, while large sharks swim freely.

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Quote from: Maslate on July 03, 2021, 04:03:01 PM

Quote from: mv1986 on July 03, 2021, 03:49:53 PM

Quote from: chaser15 on July 03, 2021, 04:40:32 AM

Quote from: tabas on June 29, 2021, 06:27:10 PM

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

I wonder how some exchanges or crypto casinos still manage to circumvent KYC and AML regulation. Those are not just some shitty platforms. Cloudbet doesn't ask for KYC and Binance. I guess those two are the biggest players in their respective industry. Wouldn't it be extremely easy for regulators to approach them? How is Binance still getting around KYC?

Regulators have different requirements based on where a certain company is registered, if the regulators are not so strict, then they might not require a KYC up to a certain amount, just like Binance, if you transact at a certain amount below the limit, there's no need for KYC, but if you go higher, you are required to submit for the KYC requirement, so we are given a choice.

I think most of the casinos don't require a KYC, and KYC has only become a requirement on a case-to-case basis.
We should read the TOS for easy understanding, let us not speculate.

Yes but when KYC and AML is meant to fight crime and get an overview about suspicious activities, check the limits on Binance. They are so high that you could easily money launder tremendous amounts. Same case for betting platforms. I can absolutely recommend to comply with the law, and that is what I do. But if you have criminal intentions it is still very easy to pull it off big time. You could just sign up several accounts with Binance and quickly have a limit over half a million USD, or just use several exchanges. From that perspective I could even understand regulators, but I am friend of crypto welcoming regulation that also makes it easy to use crypto while still being able to pay your proper taxes rather than build a massive surveillance apparatus.

The big guys do the surveillance on the small guys, but the small guys have no chance at all to see what's going in all the tax paradises. We can just be happy if journalism helps out like in the case of Panama Papers. Otherwise we wouldn't even have a glimpse of what's going on.

Text

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The exchanger system is different in the casino. I understand better why KYC needs to be required especially with its P2P trading feature, the main reason is to prevent someone from being scammed. And because they also have a side to being centralized they support bank transfers and other fiat e-wallets. When you submit a KYC to them it means that you trust the company, we know that the company and their reputation are verified. On gambling sites, I understand others so they don't want KYC because they want to hide because if online gambling is illegal in their country especially if they really want to play even though they know it's illegal so they make a way.

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Quote from: mv1986 on July 03, 2021, 03:49:53 PM

Quote from: chaser15 on July 03, 2021, 04:40:32 AM

Quote from: tabas on June 29, 2021, 06:27:10 PM

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

I wonder how some exchanges or crypto casinos still manage to circumvent KYC and AML regulation. Those are not just some shitty platforms. Cloudbet doesn't ask for KYC and Binance. I guess those two are the biggest players in their respective industry. Wouldn't it be extremely easy for regulators to approach them? How is Binance still getting around KYC?

Regulators have different requirements based on where a certain company is registered, if the regulators are not so strict, then they might not require a KYC up to a certain amount, just like Binance, if you transact at a certain amount below the limit, there's no need for KYC, but if you go higher, you are required to submit for the KYC requirement, so we are given a choice.

I think most of the casinos don't require a KYC, and KYC has only become a requirement on a case-to-case basis.
We should read the TOS for easy understanding, let us not speculate.

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Quote from: chaser15 on July 03, 2021, 04:40:32 AM

Quote from: tabas on June 29, 2021, 06:27:10 PM

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

I wonder how some exchanges or crypto casinos still manage to circumvent KYC and AML regulation. Those are not just some shitty platforms. Cloudbet doesn't ask for KYC and Binance. I guess those two are the biggest players in their respective industry. Wouldn't it be extremely easy for regulators to approach them? How is Binance still getting around KYC?

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Quote from: Google+ on June 29, 2021, 06:42:37 PM

some gambling platforms often do KYC when they get users to withdraw the profits they get with very large amounts, this is done in my opinion because this gambling place wants to know who these people are and maybe the positive side is that one day they will will get interesting offers from the gambling place which they can send to an email address or other.

There are also many gambling sites that initially do not require KYC but when there are many users they change it to KYC...

the average gambling site or another service still asks for personal data and user addresses when they want to send gifts, this means that KYC at the beginning is completely useless. With the current high competition in the crypto casino gambling business, we as users can freely choose sites that require KYC or not. Don't be fooled by trapping promotions, which may require KYC upon withdrawal.

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Quote from: just_Alice on July 03, 2021, 11:45:58 AM

I don't think so, normally I'd also choose the option with no KYC verification, but in case you receive bounties and large bonuses from the casino, which helped you to gain a lot of profit - I think that's the action one should be willing to take, especially if this request was indicated in the ToS, that's all I'm saying.

If the casino requires KYC in the event of a bonus being issued and in order to avoid multi-accounts, then this looks reasonable. But in fact, any casino bonus is issued with such strict conditions that it makes no difference if someone can use it several times. I am rather skeptical about "bonuses" from casinos.

Topic: Crypto-Casinos and KYC (Read 2424 times)