Crypto-Casinos and KYC - page 15. | Bitcointalksearch.org

lixer

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Quote from: savetheFORUM on May 14, 2021, 11:48:09 PM

1- Would you gamble at a crypto-casino knowing it would ask you for KYC documents before withdrawal?

Yes, I would because as much as I hate these procedures, I understand that for player security and sometimes for money-laundering issues we might be asked for documents and there is no harm in providing them because I am not indulged in any illegal activities and I am not someone who would ever be associated with big wins so I just don't care really.

Quote from: savetheFORUM on May 14, 2021, 11:48:09 PM

2- Do you feel safe giving out your KYC to online crypto-casinos?

The casinos I pick to play are known names in the industry so I don't care at all whether they ask me for documents or even selfies and all the stuff. I am trusting them with my money when I play there so why would I ever hesitate trusting them with my identity? No real reason I see.

Just avoid playing at new and warned casinos and you should be good with anything the trusted ones ask, as long as they give a reason for it.

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Quote from: DU18 on May 19, 2021, 01:26:51 PM

Quote from: uneng on May 19, 2021, 01:16:18 PM

If KYC data goes in wrong hands and our image is used maliciously by third party, the authorities must understand the situation, because as I said, we live right now in a digital world and everyone's data is on the internet, even if under government's possession, in the virtual clouds.

The main purpose of implementing the KYC principle is to avoid the risk of fraud by someone and that is why KYC is very important for the prevention and eradication of money laundering which is currently an international issue, but in this case of course we also have to guarantee the security of the data we provide to us sites or institutions, because if the data we provide is used by bad people, of course it will harm itself so it is better to do KYC on things that are very important and of course we need further investigation of sites that ask for KYC about how safe the site is in safeguarding user data.

When it comes to security of those information then nothing is guaranteed because we dont know on where those institutions or companies do keep of those informations that they do get or asked out on people
even lets talk about those traditional services and other things on typical days and now that crypto market had existed then we know on what are the primary things on why it had
gained much attention because of anonymity and its a bit not really correlated if it turns out that they do impose out KYC but its understandable since these business
are regulated then expect that they would still abide with laws which i dont see for them to have any other choice.

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Quote from: uneng on May 19, 2021, 01:16:18 PM

If KYC data goes in wrong hands and our image is used maliciously by third party, the authorities must understand the situation, because as I said, we live right now in a digital world and everyone's data is on the internet, even if under government's possession, in the virtual clouds.

The main purpose of implementing the KYC principle is to avoid the risk of fraud by someone and that is why KYC is very important for the prevention and eradication of money laundering which is currently an international issue, but in this case of course we also have to guarantee the security of the data we provide to us sites or institutions, because if the data we provide is used by bad people, of course it will harm itself so it is better to do KYC on things that are very important and of course we need further investigation of sites that ask for KYC about how safe the site is in safeguarding user data.

uneng

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Quote from: perfect999 on May 19, 2021, 11:39:52 AM

Quote from: madnessteat on May 18, 2021, 03:36:13 AM

I don't think any gambling provider can ensure 100% security of our personal data. No one knows what their leaks could lead to. I am in favour of giving my personal information and allowing it to be processed and stored only in exceptional cases.

That is alarming. But, then I wonder what they can do with our identity if it goes in the wrong hands? If we are afraid of them misusing it, we can always use a watermark on top of the images we give them, I think that solves the problem completely.

In a digital world like the one we live nowadays, I think there is no way to escape this risk, because sooner or later you will have to upload your documents to one of those data online collectors for different purposes that go beyond gambling kYC sign ups. I've already lost the count of how many times I had to sent my documents virtually. And each new day it becomes more frequently, as new services and opportunities don't stop popping on the internet, and in order to join them you have to show yourself.

If KYC data goes in wrong hands and our image is used maliciously by third party, the authorities must understand the situation, because as I said, we live right now in a digital world and everyone's data is on the internet, even if under government's possession, in the virtual clouds.

mu_enrico

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Quote from: madnessteat on May 18, 2021, 08:40:29 AM

In many countries, such as in Russia, it was until recently possible to buy SIM cards which were not registered to a specific person. They were not even sold on the black market, but on regular public marketplaces in huge quantities.

True.

Quote from: madnessteat on May 18, 2021, 08:40:29 AM

I don't think that passing the first level makes any sense for a gambling site.

If the user only deposit like, let's say, <$100 a month, it makes little sense to collect his personal data more than aforementioned lv1. What will he do with his <$100? Launder money? Yes, he can create multiple accounts but at the expense of a sim card, and sim card is traceable anyway, so law enforcers still can pinpoint his location.

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Quote from: pinggoki on May 19, 2021, 10:06:58 AM

If the terms of the casino are that it requires your personal identity in which they will acquired you to submit first a KYC to them and some legal documents and the Crypto-casino has a good standard and good standing among the casinos out there then maybe I will agree on their terms and regulations.

Maybe yes for some people but also No for some who discreetly involve to this kind of activities, gamblers who wanted to stay unknown

while doing their gambling practices won't allow themselves to submit any legal documents and complete KYC.

Quote

But the thing is that it is a crypto casino meaning they are accepting cryptocurrency in depositing and withdrawal then why should they ask for your identity? If they will just give your winnings in a form of cryptocurrency? Unless they are supporting FIAT currency in withdrawal.

They are required by the law that juristic their permits, they can't just simply provides your winning if the amount already exceed from the money laundering act, both fiat and crypto if already been require by law can't do anything about KYC.

perfect999

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With casinos, as well as with the exchanges, sometimes happens similar KYC requirements, for some reason necessarily after trying to withdraw funds! And until then you could safely make deposits! Grin

I consider it a scam, and leave such sites! Who knows where your data and documents can get then!

I don't think that is the case. They allow deposits and even allow you to gamble because they believe the player is going to come out clean and asking for documents doesn't necessarily mean the casino has flagged you. It only means that they want to verify who the player is and from where he comes because ultimately the casinos are operating legally and have to answer if they somehow let a mistake happen on their end and might even mean their license being revoked.

Quote from: madnessteat on May 18, 2021, 03:36:13 AM

I don't think any gambling provider can ensure 100% security of our personal data. No one knows what their leaks could lead to. I am in favour of giving my personal information and allowing it to be processed and stored only in exceptional cases.

That is alarming. But, then I wonder what they can do with our identity if it goes in the wrong hands? If we are afraid of them misusing it, we can always use a watermark on top of the images we give them, I think that solves the problem completely.

rhomelmabini

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Quote from: pinggoki on May 19, 2021, 10:06:58 AM

If the terms of the casino are that it requires your personal identity in which they will acquired you to submit first a KYC to them and some legal documents and the Crypto-casino has a good standard and good standing among the casinos out there then maybe I will agree on their terms and regulations. But the thing is that it is a crypto casino meaning they are accepting cryptocurrency in depositing and withdrawal then why should they ask for your identity? If they will just give your winnings in a form of cryptocurrency? Unless they are supporting FIAT currency in withdrawal.

It's doesn't mean that it's in crypto payments that there will be no KYC being held on an exchange or even at crypto casinos. The casinos of course are just following the regulations being set and they are just that worried if ever it will be exploited on some most case like money laundering.

May it in crypto or Fiat money laundering doesn't have a preferred currency and therefore firms will just to abide by the rules or they can just close their operations.

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If the terms of the casino are that it requires your personal identity in which they will acquired you to submit first a KYC to them and some legal documents and the Crypto-casino has a good standard and good standing among the casinos out there then maybe I will agree on their terms and regulations. But the thing is that it is a crypto casino meaning they are accepting cryptocurrency in depositing and withdrawal then why should they ask for your identity? If they will just give your winnings in a form of cryptocurrency? Unless they are supporting FIAT currency in withdrawal.

AicecreaME

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Quote from: savetheFORUM on May 14, 2021, 11:48:09 PM

I have 2 questions which I would like everyone to please answer and based on the answers can we can have a clear picture.

1- Would you gamble at a crypto-casino knowing it would ask you for KYC documents before withdrawal?

My opinion: No, because fiat casinos offer much better services, odds, and games so I would never want to do KYC at a crypto casino and if I was going to do it, I would rather play at a fiat casino like bet365. There are countless options of exchanging your Bitcoins to skrill/neteller and deposit to play. I don't think that's a problem for anyone so unless crypto casinos offer better services, I won't play there if KYC is required. On top of everything else, the main reason why crypto was made was to keep ourselves anonymous and if crypto casinos should follow the same path.

If a player cheated the casino by any means, then the casino should just ban the player because asking for KYC is not going to solve the case.

2- Do you feel safe giving out your KYC to online crypto-casinos?

My opinion: After the documents are sent, they go through a number of people and online casinos keep changing their staff from time to time and in some case, if a staff member knows my address and in case I am a high-roller I would be in some serious trouble because the staff member can track me and even blackmail me to some extent. I am ok with giving my identity to known sites like bet365 or williamhill but I am still not comfortable verifying myself at a lesser-known crypto casino.

To answer your question 1, it actually depends. I think I can give my proof of identity to a trusted, well-known, established, and has good reputation casino enterprise. If that certain casino has been running for long years already and has good feedbacks, then I guess there's no reason for me to worry undergoing their KYC process. However, if a casino is just freshly established and there's no record for me to hold onto, then I will rather not undergo KYC. It's better to be safe than sorry.

For question 2, there's no reason for me to feel unsafe if I am giving away my KYC to a reputable casino. I never risk undergoing KYC if I'm hesitating, so yes, I always feel safe because I know I'm not deciding impulsively and already calculated the risks before giving away my identity to them.

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Quote from: zanezane on May 19, 2021, 12:58:31 AM

Quote from: Dread Pirate Roberts on May 18, 2021, 06:41:54 AM

I can respect some casino who adding required KYC before using their service. most likely about money laundry and legality for their customer. as we know some casino restricted some area for using their services. they didnt want their legality had problem because they didnt even know who using their service before hand . and also KYC in most gambling platform only formalities and they wont making harder registration for their new user.

I mean that would be the least that you can do when you are doing business, complying with the rules and laws that govern your business. I like the idea of KYC because it helps you not become a suspect of something bad in the casino because you know that you won't do wrong because they have your identification.

But still, people who do not want to verify their account will search for the gambling website which does not have verification because they want to stay anonymous. But some gamblers will not bother to do KYC if the site needed them to verify their account. Yes, the money laundry will be a problem for the casino and if they apply KYC for their members, they can protect their member's identity from bad things. So we hope when we verify our account by sending the document to the casino, they can give their best to protect the member's document.

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There is Only one place that i did give my KYC for a gambling site and that is my Company that had been entrusted my details , Roobet.com mate.

Other than this will never win my KYC , i have been asked twice by a casino that i use to play in past but after that ? i leave them and even let them had my remaining deposits.

Quote from: Ucy on May 18, 2021, 05:18:35 AM

* Bet, but don't Gamble. Wish you Safe Bet!

The very moment that you put your bet, then that is already a Gamble so please Stop posting in gambling section when you are one of the Haters of gambling.

Please don't do this just for you to Get Bonus in your Weekly payment campaign lol.

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Quote from: Pamadar on May 19, 2021, 04:46:22 AM

Quote from: zanezane on May 19, 2021, 12:58:31 AM

~

Not exactly like that, still if the casino see some suspicious actions from your account,

even you have your KYC they can still interfere and prevent your from dealing with the house, freezing your capailities whenver they see something that they've suspecting to be illegal, but yes, in some other point having completely validated gives you some comfort not being
hot from the eyes of the house owners as long as there's no problem while you are using their service.

Even if that were to happen, at the least you are likely to be suspected and have your account suspended and if it ever comes to that, you can say that you have submitted your identification and hopefully could help with the suspension of the account.

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Quote from: zanezane on May 19, 2021, 12:58:31 AM

Quote from: Dread Pirate Roberts on May 18, 2021, 06:41:54 AM

I can respect some casino who adding required KYC before using their service. most likely about money laundry and legality for their customer. as we know some casino restricted some area for using their services. they didnt want their legality had problem because they didnt even know who using their service before hand . and also KYC in most gambling platform only formalities and they wont making harder registration for their new user.

I mean that would be the least that you can do when you are doing business, complying with the rules and laws that govern your business. I like the idea of KYC because it helps you not become a suspect of something bad in the casino because you know that you won't do wrong because they have your identification.

But doing KYC also means that you are now publicly known and you are no longer unknown or anonymous. If you win a huge amount and you don't want to inform your local authorities then the casino will do that for you and you will be forced to pay taxes.

I think the idea of KYC should be forced to players who are cheaters or in some way are believed to be connected with money laundering or have cheated the gambling site in any way possible. Without a strong reason KYC should not be done.

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Quote from: zanezane on May 19, 2021, 12:58:31 AM

Quote from: Dread Pirate Roberts on May 18, 2021, 06:41:54 AM

I can respect some casino who adding required KYC before using their service. most likely about money laundry and legality for their customer. as we know some casino restricted some area for using their services. they didnt want their legality had problem because they didnt even know who using their service before hand . and also KYC in most gambling platform only formalities and they wont making harder registration for their new user.

I mean that would be the least that you can do when you are doing business, complying with the rules and laws that govern your business. I like the idea of KYC because it helps you not become a suspect of something bad in the casino because you know that you won't do wrong because they have your identification.

Not exactly like that, still if the casino see some suspicious actions from your account,

even you have your KYC they can still interfere and prevent your from dealing with the house, freezing your capailities whenver they see something that they've suspecting to be illegal, but yes, in some other point having completely validated gives you some comfort not being
hot from the eyes of the house owners as long as there's no problem while you are using their service.

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Quote from: Dread Pirate Roberts on May 18, 2021, 06:41:54 AM

I can respect some casino who adding required KYC before using their service. most likely about money laundry and legality for their customer. as we know some casino restricted some area for using their services. they didnt want their legality had problem because they didnt even know who using their service before hand . and also KYC in most gambling platform only formalities and they wont making harder registration for their new user.

I mean that would be the least that you can do when you are doing business, complying with the rules and laws that govern your business. I like the idea of KYC because it helps you not become a suspect of something bad in the casino because you know that you won't do wrong because they have your identification.

Wawa2013

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Quote from: tabas on May 18, 2021, 07:01:08 PM

Quote from: Silberman on May 18, 2021, 06:00:58 PM

Quote from: tabas on May 15, 2021, 07:56:16 PM

We might not have a choice if they do that but we have a choice to choose another platform that don't ask that much and we're free to deposit and withdraw anytime without being asked for a kyc.

That is the great thing about the market of cryptocurrencies, just because a big casino forces you to go through KYC no matter what that does not mean that you need to accept it, you can vote with your money and move to another casino that is more flexible on the way they do things and that care about your right to have some privacy and gamble with them, now there are people in this market that do not care about that in which case they have more options than us but at least to me my privacy is important and I am never going to sacrifice it.

Yes, this is the flexibility that we have in cryptocurrencies. Many casinos are accepting already payments in bitcoin and other cryptos they prefer that's why the competition for them is tough and having loyal gamblers is becoming harder if they don't serve well and don't give the best experience a gambler can have. Majority of us do care about privacy and that's why when a casino asks us that, we're leaving after getting the balance that we have there.

I also believe online casino owners understand that the competition in online gambling is getting tougher, because there are so many new
gambling platforms now emerging. And provide the best possible service to its users, therefore I am sure that only a small number of
gambling platforms force their users to perform KYC procedures. Because online casino owners realize that many gamblers consider privacy
in the online world to be very important. So if we are going to register on gambling sites and ask for KYC verification, we can leave the gambling
site and choose another gambling site, because there are so many nowadays good gambling sites and care for their users.

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Quote from: Silberman on May 18, 2021, 06:00:58 PM

Quote from: tabas on May 15, 2021, 07:56:16 PM

We might not have a choice if they do that but we have a choice to choose another platform that don't ask that much and we're free to deposit and withdraw anytime without being asked for a kyc.

That is the great thing about the market of cryptocurrencies, just because a big casino forces you to go through KYC no matter what that does not mean that you need to accept it, you can vote with your money and move to another casino that is more flexible on the way they do things and that care about your right to have some privacy and gamble with them, now there are people in this market that do not care about that in which case they have more options than us but at least to me my privacy is important and I am never going to sacrifice it.

Yes, this is the flexibility that we have in cryptocurrencies. Many casinos are accepting already payments in bitcoin and other cryptos they prefer that's why the competition for them is tough and having loyal gamblers is becoming harder if they don't serve well and don't give the best experience a gambler can have. Majority of us do care about privacy and that's why when a casino asks us that, we're leaving after getting the balance that we have there.

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Quote from: tabas on May 15, 2021, 07:56:16 PM

We don't have to settle for those casinos that gets to ask us for a KYC.

Quote from: Hamphser on May 15, 2021, 07:29:36 PM

But just like what others been saying that as regulations gets strict then you would really see these kind of changes in future years to come.
It isnt really that appealing but they dont have choice.

We might not have a choice if they do that but we have a choice to choose another plaform that don't ask that much and we're free to deposit and withdraw anytime without being asked for a kyc.

That is the great thing about the market of cryptocurrencies, just because a big casino forces you to go through KYC no matter what that does not mean that you need to accept it, you can vote with your money and move to another casino that is more flexible on the way they do things and that care about your right to have some privacy and gamble with them, now there are people in this market that do not care about that in which case they have more options than us but at least to me my privacy is important and I am never going to sacrifice it.

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Quote from: mu_enrico on May 18, 2021, 08:10:09 AM

If they have tiered KYC levels, such as LV.1 -> phone number, name, etc. without asking users to upload documents and selfies, that would be nice.

In many countries, such as in Russia, it was until recently possible to buy SIM cards which were not registered to a specific person. They were not even sold on the black market, but on regular public marketplaces in huge quantities.

I don't think that passing the first level makes any sense for a gambling site.

Topic: Crypto-Casinos and KYC - page 15. (Read 2424 times)