Topic: Do you think casinos can stop demanding KYC? - page 10. (Read 1758 times)

The government would always demand for taxes at all sectors and that is why they are just hovering all rounds to centralize even the decentralized ventures.
Definitely the idea of this KYC on the casino gambling is for the accessibility of the government to take datas of the number of customers being registered in the casino sites.

Let us also remember that gambling has rules and policies such as the polices that guides gamblers from Irresponsible gambling, so the gamblers datas would help the appropriate bodies in concerned of the victimized chronic and addicted gamblers to be on track for therapy towards their addictions but the government and the casino sites doesn't care about this aspect all becasue they are benefiting from it.

In other way it is a medium just as said to have individuals  in the sites on track in referencing to fraudulent just as the OP has said.
If not for that I do not think if the casino sites do really cares about knowing their customers for all the cares about is making the money as customers are loosing in their sites on basis.

I can get that if customers would have negative reviews and laments over the KYC, the casino sites would keep to an end of enrolling it while customers are registered in their platforms because I don't think if they could afford to loose them for another sites that may not unconvince customers like that .

Until now, casinos have stopped demanding KYC even though the casino has regulations, but when there is a problem, it requires a deeper level of investigation, so KYC is needed even though in quotes casinos ask for documents from their customers because they have rights and there are rules.

I don't think casinos will stop demanding KYC but eventually it will become mandatory as long as we can still play at non-KYC casinos then it will continue to be utilized.
I don't even think casinos allow laundering which even from obscure sources of funds will be questioned.

If I'm not wrong then casinos will still continue to demand KYC even if they face no issues from government's side. The KYC has allowed casinos to pay the gamblers who are lucky and who win most of the games. Some of those lucky fellows often forget about completing their KYC details before placing bets and when they win, then they have to complete KYC verification in order to withdraw their winnings.

The casinos know that KYC is something that will allow them to get some funds in their bankroll so they can pay the one who won a Jackpot, I know that such players are very limited in number and they always can't win the house edge of a casino, but at least casinos sometimes get extra time to pay such winners because of that KYC verification thing.

Well it's very different now, before we never thought of this kind of things, I mean crypto was invented or at least Bitcoin by Satoshi as a payment scheme, you can't read anything about money launderers and others that will take advantage of his invention to be used other done what he designed it to be.

And when criminals found out that they can wash their money in gambling sites, so gambling platform uses like you have to bet x amount before you can withdraw or a betting requirements. But still, it's not enough and so enter the financial regulators.

I also think now that gamblers have accepted this fact already that most online gambling platforms will demand KYC and I don't think that they will revert back to non-KYC as they could cease operations once regulators find it out.

If the government does not require KYC for players, I do not think casinos will continue to mandatorily implement it.  Removing KYC will save them money and besides, I do not think Casino is concern about the identity of their players unless it is about account recovery if ever a player lost access to his account.


Casinos does not intend to allow money laundering on its platform, and it is not the obligation of the casino to catch money launderers or people who do fraudulent activity since we have the authority for that.  Casino's service is to give entertainment to its clients by providing games that give them a chance to win.  And since the government in this scenario have lift the requirement for the casino to conduct KYC, then the casino does not need to implement it.

Online crypto casinos operated in early days without kyc as these casinos were not licensed yet. When they started to acquire license, of course, it is accompanied by certain protocols to abide by, according to the regulations set by their license. The licensing of online casinos becomes a norm when this type of business needs to legalize their existence as well as scam casinos are on the rise.

So so long these casinos have their license, I believe, they will continue to ask KYC from their players especially those high rollers. Because in some casinos, even if they have kyc in place, if you don't exceed their limits of let's say - accumulated deposits/withdrawals of $2k, they won't require you to undergo the kyc process.

Casinos never want to ask for KYC in the first place, it just adds another obstacle in the way of the gamblers wallet being emptied into their bank account. The government created these rules because casinos were one of the most effective ways to "wash" (aka money launder) money and turn dirty money into clean money before this happened. There is no way that the government will ever roll back this requirement, nor should they, as it allows criminals to prosper - regardless of any protests that legitimate users might have about wanting to keep their anonymity. Any casino that does not conform to these standards might be able to navigate the KYC laws for a while but eventually they might get cracked down on.

Implementing Know Your Customer (KYC) in casinos is what the discussion is about. KYC policies are now common due to statutory demands, this shows that casinos have to ascertain the identities of their players, ensuring that illegal activities such as money laundering are not carried out through their systems. By developing more stringent KYC, flow of funds to casinos becomes more monitored and transparent: the government would have access to stronger tools on surveillance of financial activities at casinos, allowing them to prevent money laundering alongside other illicit dealings.

Despite this, there are still individuals who express concern about non-KYC compliant casinos potentially turning into dens for illicit activities. They posit that if casinos fail to ascertain the identity of their gamers, the risk of falling into money laundering and other unlawful dealings increases.

However, it is important to note that though implementing KYC can aid in lowering this risk at a casino, it is not the sole parameter to be weighed.

If the government lift the mandatory KYC rule then new casinos will use it as a marketing strategy to attract new players to their platform. Existing casino might follow similar methods, if the rate of people who go to no KYC casinos are high. Every effect depends on the marketing trend. Lots of players preferred no KYC, but since no platform supports it, due to the government, people began to adapt to the KYC rule. However, casinos were able to handle fraudulent activities long before the institution of a compulsory KYC policy by the government.

In my understanding, what casinos benefits from the data people submit to them is marketing. With the information casinos can easily know who to target when advertising. They'll be able to know the number of young people and aged players who use the casino. Although, lots of framed up documents exist in the platform. Especially from underaged gamblers. But the government may not think of doing such a thing. They also benefit from those data. It helps them track fraudulent activities like money laundering. Halting it would affect their investigative purposes.

Money laundering is what government hates with any company that deals with money, they believe is very easy for companies to wash money and get away with it that's why I think the anti money laundering kyc and the casino are just gradually becoming the normal exchange we do used with basic names and email that overnight changed to compulsory kyc is exactly what is happening with Casino right now, a time will come that a casino without kyc will be difficult to see around.

The only place I personally think casino benefit from KYC of a thing is about abuse of multi accounts, no matter are mercy a casino is, there will be some people that will abuse such privileged and this kyc is the only way to fish out the bad eggs from the good ones in places where they abuse bonuses and trying to cheat the system, other than these I see no benefit of kyc to casinos.

It is unlikely that casinos will continue to apply KYC because it is already a requirement from the government so it will be mandatory for the future as well as exchanges that apply KYC more strictly, the flow of funds to casinos is so large that the government can monitor with KYC.

How is it possible that a non-KYC casino can later allow money laundering and more? If this is allowed the casino will become the target of the government for committing illegal acts, until then we will never expect that non KYC will still exist even though until now some casinos still exist.

Casinos have strict rules, they prohibit anything that is fraudulent.

I'm afraid, this will never happen  
It cost them millions of dollars to begin the censorships, why should they decide to stop it anyway? I can only think of the government bringing up a more sustainable means to attack privacy on casinos - should KYCs get maneuvered, not just obliterating the system per se
Not at this point.
The sole purpose of censorship was privacy invasion. I'm afraid, this is gonna get even more worse and we're gonna be toast once people begin to discover other loopholes to evade the KYCs.

If casinos stop demanding KYC it will definitely make more gamblers to access their websites as most gamblers hate passing through KYC especially when there is a system glitch in their KYC application. And that will give access to kids and underaged person to the gamble on their site. Some casinos today only ask if you are 18+ and that's all, there is no way for them to verify if it's actually true or not, and that's one of the reasons why some governmental regulations place bans on some online casino and gambling sites. Assuming KYC was not demanded in exchanges, some criminal would have gotten away with some stolen funds.

They can do it, but in most cases it will mean losing a license. Think about it, how many of them will do it? Probably one in a thousand, or less. What about unlicensed casinos? These guys could skip KYC and advertise as non-kyc casinos to be different and attract customers, but apart from privacy -oriented people they will also start attracting scammers. When 99 out of 100 casinos are KYC and one is not, all the launderers will go there - that's a fact. There's not going to be a lot of them, but let's say they're 1% of all players spread across many different casinos. Start a non-kyc casino and they'll all come to you because it's easier for them - less risk, more profit.

Unless they are not required to comply with the governments regulation I think that is the only reason that keep them from demanding KYC's to their respective users. Money laundering is I think the most common reason why we need to undergo KYC they just wanted to see no irregularities from their users.

KYC isn't going away in casinos. Benefits are too good. They've seen chaos lead to fraud, money laundering, and more. I understand their desire to prevent that. KYC is likely to remain standard at most casinos regardless of laws. To safeguard their business and reputation. Suppose certain casinos go rogue to attract a certain audience. That's possible, but rare.

Unbelievable is the tech available. Decentralized blockchain casinos are the future. Consider a future where you can wager privately and the casino keeps everything safe. I believe in the possibilities despite the formidable challenge. It'll take some creative thinking, but it may revolutionize the game.

No. It is would be very unreal for us to even imagine the governments and the regulations in those important jurisdictions are going to reverse their policies on KYC and AML measures. It does not make sense from their perspective.
It is true that in previous decades it was possible to gamble on casinos without providing much persona information to the casino, the staff of it and the government (indirectly), but one also needs to understand the differences between that historical context and the current context we are going through.
In previous decades, it was possible to gamble without KYC because one needed to use either cash or a credit card to fund one'a gambling session. With cash, one was required to show up to the place one wanted to gamble, which could make easier for the police to investigate, interview and even arrest people whose intention was to launder money. The credit card essentially meant the bank and the government had our information, it was some kind of previously done KYC.

In the introduction of cryptocurrency and the increase of popularity of casino websites, it became difficult for authorities to only rely on credit cards and people showing up at brick and mortar casinos.
It is a matter of evaluating the pros and cons on KYC and AML before summiting our information, I personally believe it is worth it enough for most of people as long as we keep criminals away from their liquidity.

Going back to no-KYC casinos? Sounds great, I get it. Less hassle. But its a fantasy. Casinos, they're smart businesses. They know KYC gives them an edge- keeps things clean, customers happy. They're not giving that up easy. Now, regulations are what they are, hard to work around today. But hold on, I see something big down the road. Decentralized casinos, built on blockchain, just for gambling? Changes the whole game. Thats the kind of disruption Im talking about! You get your privacy, casinos get security. Nobody loses. Its the future, might take some time, but believe me, best minds are on it. Thats where the smart money's going

It's not only the gambling casinos that asked for KYC online and offline platforms that have a seller-customer relationship it is the protection of both sellers and customers to see to it that the platforms are true to what the platform demands of their customers.

In online casinos, it's being used to trace cheaters and launderers, they need to protect their platform and KYC is a good method to trace scammers and cheaters, casinos are successful in tracing bad players using KYC so I don't think casinos will do away KYC even if it's unpopular to players.

       -     I believe that the KYC is only applicable to regulated casinos, as we know, because this is what the government wants; they want to see the full earnings of their constituents. That's why traditional casinos cannot have DTI, business permits, Sec, and others.

But if there is no KYC, of course that is applicable to Dex casinos. The bad thing is that Dex platform casinos ask for KYC from their gamblers, and when this happens, that is a red flag to me.