Crypto-Casinos and KYC - page 3. | Bitcointalksearch.org

ethereumhunter

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Quote from: chaser15 on June 26, 2021, 06:43:18 PM

Quote from: bL4nkcode on June 26, 2021, 06:07:52 PM

What people/gamblers can do is to minimize the damage, and only play or give your personal info to those known long-running reputed website.

I agree if there's no choice after all.

Gamblers should be ready to comply with KYC especially if big winnings are experienced in the progress. We have no choice after all if that's the requirement before we can claim big winnings since we want that money. But for small winnings or something below $5,000 for example, KYC shouldn't be trigger here. Only for alarming, unusual, or something like that.

The casino that cares about its members will not try to ask KYC for them as the casino respects their identity. It is okay if the casino applies KYC for a gambler who wants to withdraw big money from winning because the casino wants to know who their customer is. But we need to be careful if we want to do KYC and only select the casino with good reputations to protect their members.

fortunecrypto

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Quote from: savetheFORUM on May 14, 2021, 10:48:09 PM

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.

Blackmail you for playing in Cryptocurrency casinos? I don't think so, there are many crypto gambling casinos than on fiat, you can even charge those who are blackmailing you because they have a contract about the privacy policy on gambling casinos they are working with and, you are right that if you want your money and privacy safe, play on proven gambling sites that knows how to protect your money and data.

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Quote from: bL4nkcode on June 27, 2021, 04:15:34 PM

Quote from: freedomgo on June 27, 2021, 04:07:05 PM

unless you are hiding something that you are afraid to give you identity to the site.

Sometimes it doesn't work like that, even if you do not hide something illegal or not. That's still your privacy and it can't be bought by just xxxxx digits of money if you really care your privacy especially in the internet, there are lots of identity theft incidents happen every time. Even the known reputed websites (Ledger) after it got breached it ends up exposing their customer's data and that's really bad. And that's the cons and risks everytime you use such websites that ask personal info.

I understand that risk, but I'm willing to take the risk to claim $5,000, it's huge money and besides, I would not gamble on the site that I don't trust, they have also their reputation to take care of, so they need to take care of our information if they don't want their business to get destroyed.

bL4nkcode

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Quote from: freedomgo on June 27, 2021, 04:07:05 PM

unless you are hiding something that you are afraid to give you identity to the site.

Sometimes it doesn't work like that, even if you do not hide something illegal or not. That's still your privacy and it can't be bought by just xxxxx digits of money if you really care your privacy especially in the internet, there are lots of identity theft incidents happen every time. Even the known reputed websites (Ledger) after it got breached it ends up exposing their customer's data and that's really bad. And that's the cons and risks everytime you use such websites that ask personal info.

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Quote from: chaser15 on June 26, 2021, 06:43:18 PM

Quote from: bL4nkcode on June 26, 2021, 06:07:52 PM

What people/gamblers can do is to minimize the damage, and only play or give your personal info to those known long-running reputed website.

I agree if there's no choice after all.

Gamblers should be ready to comply with KYC especially if big winnings are experienced in the progress. We have no choice after all if that's the requirement before we can claim big winnings since we want that money. But for small winnings or something below $5,000 for example, KYC shouldn't be trigger here. Only for alarming, unusual, or something like that.

That's a huge amount, I would not let go of it by not complying with the KYC, of course, I would not hesitate to comply with the requirement and claim that money. We gamble to win, and winning big money is an ultimate success, so why not just comply and claim it, unless you are hiding something that you are afraid to give you identity to the site.

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Quote from: savetheFORUM on May 14, 2021, 10:48:09 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?

the answer for me is no, i would avoid that for sure, unless it has something that other casinos don't, like a particular game or some kind of a promotion, otherwise no, most of us who joined bitcoin a little bit early, were searching for anonymity, so KYC is the last option for us.

Quote from: savetheFORUM on May 14, 2021, 10:48:09 PM

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

just like you said, i can trust big and known websites with my ID and such, but there is just no way i can trust some random less known casino, no way.

chaser15

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Quote from: bL4nkcode on June 26, 2021, 06:07:52 PM

What people/gamblers can do is to minimize the damage, and only play or give your personal info to those known long-running reputed website.

I agree if there's no choice after all.

Gamblers should be ready to comply with KYC especially if big winnings are experienced in the progress. We have no choice after all if that's the requirement before we can claim big winnings since we want that money. But for small winnings or something below $5,000 for example, KYC shouldn't be trigger here. Only for alarming, unusual, or something like that.

bL4nkcode

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Quote from: fortunecrypto on June 26, 2021, 08:06:13 AM

[...] if you want your money and privacy safe, play on proven gambling sites that knows how to protect your money and data.

Known trusted gambling websites doesn't have an assurance that they can protect your data, including kyc and non-kyc data in case of breach, inside job or so.

It will still have issues in the future. What people/gamblers can do is to minimize the damage, and only play or give your personal info to those known long-running reputed website.

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Quote from: Slow death on June 24, 2021, 08:08:39 AM

Quote from: michellee on June 24, 2021, 05:05:18 AM

Quote from: Silberman on June 20, 2021, 04:41:17 PM

Quote from: michellee on June 19, 2021, 05:05:50 AM

Quote from: Natalim on June 18, 2021, 03:44:09 PM

Easy for them to do that but there's always a risk on their side, that's an identity thief or they might not be able to go after the gambling site if they will file a case once the site is scamming its clients because they are not using their real identity. I don't know if there are still gambling sites that will offer anonymous gambling in the future, because wherever they are, as long as they are regulated, the government would always require them to implement a KYC as that is the standard for every government.

That is another problem that will a gambler face in the future if they decide to use a fake identity in the gambling casino. They hope that they can play gambling without a problem and if they can found a casino that does not require KYC, maybe they will stay at that casino without moving into the other casino. I guess there will still be a casino that does not require the member to fills KYC. I will not have a problem using the casino, which requires KYC but that will be better if we give our identity if we want to withdraw big money more than 1 bitcoin.

Many casinos are very tolerant when it comes to asking for KYC, they know that if they ask this information to every single one of their clients then soon enough they are going to find themselves without clients as the majority of the people in this market care about their privacy, this is why you should not worry that much about this, however if you play with a big amount of money then you should prepare yourself and accept that sooner or later you will have to go through it especially if you win a significant amount of money.

Yes, that is why there will be a casino that still accept the member without asking about KYC. But they can limit the withdrawal amount for their members and if their members want to increase the limit, they need to do KYC. I think that is a fair thing from the casino as the casino does not want to break the regulation. A gambler itself needs to know about themselves and not using too big money if they do not want doing KYC. I think the casino want to help the gambler to control themselves but sometimes, a gambler itself want to break the limit.

I think the big central problem is in the following:

1 - casino owners are anonymous

2 - casino employees are anonymous

3 - casinos do not say where and how they keep people's documents

So why should people submit documents to anonymous people's websites?

This is without a doubt a problem of trust, people simply want to gamble and not deal with anything outside of that and casinos want to comply but since they are not in a bubble they need to also comply with the law, and the law asks them to get some KYC information from their clients, but as you said people do not want to comply because how is it possible to trust in any entity in this market when we know that scams are so common? And once your documents are out there we know there is no way to get them back.

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Quote from: hahay on June 25, 2021, 11:06:08 AM

Not only about large withdrawal amounts, there are also gambling sites out there that offer a bonus but on KYC terms, but that's just an option I guess we can still ignore. But related to large withdrawals I think it can only be done if he is a pro gambler, because for amateur gamblers it is still possible to ignore KYC because it will only play with money that is ready to be lost and most of us just to play for free time and fun. So yes, KYC or not I think it's just an option which in reality can still be avoided.

Yes, at the moment there are such options, but before, even when playing for large sums, everything was as simple and uncontrollable as possible. Then the conditions became tougher, I am sure that the trend is unambiguous and the amounts that are not under control will gradually decrease.

michellee

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Quote from: geegaw on June 25, 2021, 12:41:29 PM

Quote from: michellee on June 25, 2021, 10:31:31 AM

Quote from: Slow death on June 24, 2021, 08:08:39 AM

I think the big central problem is in the following:

1 - casino owners are anonymous

2 - casino employees are anonymous

3 - casinos do not say where and how they keep people's documents

So why should people submit documents to anonymous people's websites?

People submit their documents if they want to withdraw bigger money from that casino because some casinos will have that limitation. And if people do not send the documents, they can satisfy with withdrawing a small amount and I think they can withdraw continuously. So that is just one way for people to solve a larger amount of money for withdrawing to their other wallets.

There is quite a bit of sensitivity surrounding this private submission process, for some people and casinos, this is a way for some large withdrawals to happen safely and easily, sometimes it's also a form of determining the age of the participants when seriously, too many kids are curious about forms of gambling and it becomes a risk for them and the casino, the government doesn't like kids here. However, the author also raised his opinion about the ambiguities and risks of the document, it's hard to make things clear in this anonymous environment, it probably takes trust from both sides

I agree with you. When kids play online gambling, they will hide their activities from the adult and ask for the document from their parents or adult people in their house and send it to the casino easily. When it came to the kids, they will take responsibilities from their parents to assist their kids when they are online or use the internet.

If that is about trust, I think the gambler should search for the casino that they can trust and if they can find the casino which does not require KYC, that will be good for them as they can playing gambling and withdraw the money without a problem. Even if the casino needs them to verify their account, they will do that because they trust the casino and believe that the casino can protect the document.

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Quote from: goinmerry on June 24, 2021, 06:09:01 PM

Quote from: tabas on June 24, 2021, 01:24:40 PM

Yes, you shouldn't be surprised when they ask but most of them too are not really pushing that as long as the user is clean. And those users that have been asked for it.

Gambling sites just asked for additional KYC for big withdrawals or alarming winnings. In that case, users just have to be true to themselves.

KYC is just for the account's unique profile so that in case of attempted big withdrawals, it can't be allowed easily if the account was hacked and the only one who can withdraw that is the original user.

Another one if the account has an unusual activity. That is subject to account fraud and KYC might be imposed on that account.

It's the site that will determine that, and we just have to comply with the requirements. I guess we should be ready whenever there's a KYC requirement as it would really happen anytime to see especially if we got big winnings and if it already triggers their mandatory KYC rules for such. I know we want to maintain the anonymity regardless of the amount we are gambling, or transacting, but things have change, as the crypto space becomes more regulated, this policy is becoming a basic requirement.

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Quote from: michellee on June 25, 2021, 10:31:31 AM

Quote from: Slow death on June 24, 2021, 08:08:39 AM

I think the big central problem is in the following:

1 - casino owners are anonymous

2 - casino employees are anonymous

3 - casinos do not say where and how they keep people's documents

So why should people submit documents to anonymous people's websites?

People submit their documents if they want to withdraw bigger money from that casino because some casinos will have that limitation. And if people do not send the documents, they can satisfy with withdrawing a small amount and I think they can withdraw continuously. So that is just one way for people to solve a larger amount of money for withdrawing to their other wallets.

There is quite a bit of sensitivity surrounding this private submission process, for some people and casinos, this is a way for some large withdrawals to happen safely and easily, sometimes it's also a form of determining the age of the participants when seriously, too many kids are curious about forms of gambling and it becomes a risk for them and the casino, the government doesn't like kids here. However, the author also raised his opinion about the ambiguities and risks of the document, it's hard to make things clear in this anonymous environment, it probably takes trust from both sides

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Quote from: goinmerry on June 24, 2021, 06:09:01 PM

Quote from: tabas on June 24, 2021, 01:24:40 PM

Yes, you shouldn't be surprised when they ask but most of them too are not really pushing that as long as the user is clean. And those users that have been asked for it.

Gambling sites just asked for additional KYC for big withdrawals or alarming winnings. In that case, users just have to be true to themselves.

KYC is just for the account's unique profile so that in case of attempted big withdrawals, it can't be allowed easily if the account was hacked and the only one who can withdraw that is the original user.

Another one if the account has an unusual activity. That is subject to account fraud and KYC might be imposed on that account.

That pretty much covers it, yeah.
Generally, gambling sites have arranged their Terms of Service in such a way that KYC can be requested for any account at any time.

hahay

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Quote from: goinmerry on June 24, 2021, 06:09:01 PM

Quote from: tabas on June 24, 2021, 01:24:40 PM

Yes, you shouldn't be surprised when they ask but most of them too are not really pushing that as long as the user is clean. And those users that have been asked for it.

Gambling sites just asked for additional KYC for big withdrawals or alarming winnings. In that case, users just have to be true to themselves.

KYC is just for the account's unique profile so that in case of attempted big withdrawals, it can't be allowed easily if the account was hacked and the only one who can withdraw that is the original user.

Another one if the account has an unusual activity. That is subject to account fraud and KYC might be imposed on that account.

Not only about large withdrawal amounts, there are also gambling sites out there that offer a bonus but on KYC terms, but that's just an option I guess we can still ignore. But related to large withdrawals I think it can only be done if he is a pro gambler, because for amateur gamblers it is still possible to ignore KYC because it will only play with money that is ready to be lost and most of us just to play for free time and fun. So yes, KYC or not I think it's just an option which in reality can still be avoided.

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Quote from: Slow death on June 24, 2021, 08:08:39 AM

I think the big central problem is in the following:

1 - casino owners are anonymous

2 - casino employees are anonymous

3 - casinos do not say where and how they keep people's documents

So why should people submit documents to anonymous people's websites?

People submit their documents if they want to withdraw bigger money from that casino because some casinos will have that limitation. And if people do not send the documents, they can satisfy with withdrawing a small amount and I think they can withdraw continuously. So that is just one way for people to solve a larger amount of money for withdrawing to their other wallets.

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Quote from: KTChampions on June 24, 2021, 05:14:45 AM

Quote from: harizen on June 21, 2021, 04:42:55 PM

I don't know this. What crypto-casinos is currently under direct regulation by the government?

For now, only online fiat casinos are mandated by the government, not crypto-casinos, at most.

Correct me if I'm wrong though.

These are different questions. The casino can be legal and operate only with crypto. Or the casino can be illegal and work only with fiat. Therefore, if this is important to you, you should clarify both of these issues separately.
Unfortunately, I see that in recent years almost all casinos become legal in one way or another and the meaning of using cryptocurrencies is lost.

Those gambling site who have their licensed are probably under the rules of government and a specific country is their regulating body which dictates them all the rules and regulations when it comes to gambling. KYC was being asked on many site because it is one of the requirements for anti money londering. If you are not ok with KYC, there's still an option for you and I hope that we can still have that option in the future since many gamblers still prefer to remain anonymous.

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Quote from: tabas on June 24, 2021, 01:24:40 PM

Yes, you shouldn't be surprised when they ask but most of them too are not really pushing that as long as the user is clean. And those users that have been asked for it.

Gambling sites just asked for additional KYC for big withdrawals or alarming winnings. In that case, users just have to be true to themselves.

KYC is just for the account's unique profile so that in case of attempted big withdrawals, it can't be allowed easily if the account was hacked and the only one who can withdraw that is the original user.

Another one if the account has an unusual activity. That is subject to account fraud and KYC might be imposed on that account.

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Quote from: KTChampions on June 24, 2021, 05:14:45 AM

These are different questions. The casino can be legal and operate only with crypto. Or the casino can be illegal and work only with fiat. Therefore, if this is important to you, you should clarify both of these issues separately.
Unfortunately, I see that in recent years almost all casinos become legal in one way or another and the meaning of using cryptocurrencies is lost.

The question is very clear, at least for how I delivered it. What I'm talking about is if there's a "crypto-casino" that is directly governed and mandated by the government in response to what I quoted above.

I don't consider the Curacao license as an example. If I'm not mistaken, gambling sites under Curacao don't have to pay any tax. It means these sites aren't directly mandated by the government. If a certain business, in any industry, is mandated by the government, they are subject to paying tax.

Again, anyone who has knowledge about this can correct me.

Here's the quote:

Quote from: dimonstration on June 21, 2021, 11:14:10 AM

As long as there are casinos who will not require KYC then it's fine. But some government rules where to strict now in crypto operations that some websites like gambling casinos requires it too for their permits operation.

Topic: Crypto-Casinos and KYC - page 3. (Read 2424 times)