Do you think casinos can stop demanding KYC? - page 13.

bittraffic

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Quote from: Poker Player on May 04, 2024, 11:47:08 PM

Dream on, OP. It's like asking if states can stop collecting taxes. The direction we're going is the opposite: states are increasingly taxing more and more, just as they are increasingly attacking privacy. We have no reason to think they are going to reverse their decision and start doing the opposite.

Exactly. I don't thin the government will stop mandating them to ask KYC documents from anyone in casino. They will even intensify that they will allow users who won from free spins to withdraw the amount so long as they submit KYC documents.

Maybe the government will incentivize those casinos who can submit new data from their platform to the government. They know the data are very important for them to see those people.

Poker Player

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Dream on, OP. It's like asking if states can stop collecting taxes. The direction we're going is the opposite: states are increasingly taxing more and more, just as they are increasingly attacking privacy. We have no reason to think they are going to reverse their decision and start doing the opposite.

Viscore

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If the casino has a license, that means they are regulated, and part of regulation is they are mandated to required a KYC on their customers, so the answer is no. here's the difference, unlicense casino cannot demand a KYC, while the licensed one they are required to. So if a gambler doesn't want a KYC, they have to take a higher risk playing on an unlicense casino, they have to understand that they can't sue a casino in case they'll get scam, but they have the freedom, so it's just a matter of weighing the risk versus the benefits, we call the shot.

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

Gamblers wish that would happen, we don't want that in the first place. But, yes the question is if the government withdraws its stance on requiring the casino to ask KYC from their users knowing that they also have valid reason for implementing such rules. Which is our chance is very slim to nothing. But I have no complaints about it as long as they are reputed and if we don't know, this KYC implementation from the casino helps to secure our funds from unauthorized withdrawals.
It has positive and negative but we have no choice because these casinos are just complying with what the authorities have asked.

Eternad

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

The only way casino will revert back to non-KYC is when they removed all their bonuses which is the reason why they want KYC for protection agains cheater. You’re right that they will not revert back to non-KYC even if the government not required it anymore since it’s beneficial for the casino to required KYC to avoid abused for their promotion which is frequently happening.

Only casino that offers decentralized games without relying to bonuses can achieve this no KYC feature but the rest of the casino that relies on bonuses to attract players will alway use KYC for protection against abuse.

Bananington

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KYC is for security of ones data, funds and to ensure that there is order and free flow of business transactions. It will not stop because even the government checks these casinos for malpractice and money laundering .
One must have read to agree to casino rules before joining, so as not to enter complications in the process before and after gambling and is intent on claiming rewards and cash prices.

danherbias07

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If the government doesn't require it and they won't have problems in money laundering cases then I bet they will go back to being a non-KYC-required gambling industry.
They are doing it because they don't want to be questioned by the authority but if that is not the case then they'd rather not. Simply because a non-KYC business can pull more customers because they can gamble while keeping their privacy which I think has been the debate for a long time now.
Just in this forum, we have seen a lot of times with the number of threads created about KYC's and I believe the gambling sites know that gamblers don't like them.

Still, I doubt that will happen. The fangs of the government are sunk deep in the online gambling industry and there's no way to take that out.

Solosanz

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were.

First, thinking the government no longer requires to do KYC won't happen, you can't separates government and KYC.

Second, why the hell casinos need to know who were gamble in their sites? their main focus is to earn as much as possible, not watching someone gamble.

Casinos really love gambling addicts because they can maximize their profit, self exclusion or slogan "only gamble you can afford to lose" are just gimmicks.

Two points you mentioned aren't make sense at all.

DarkState

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I don't think casinos will stop demanding KYC because casinos have well realized the benefits of KYC. If users' identity verification is stopped, gambling by minors will increase. There can also be many other reasons for not turning off KYC.

Nrcewker

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If a casino is having a license, then they are bound to ask for KYC from their customers. If the government doesn’t make this as mandatory, still they will ask for KYC. The reason for asking KYC is anti money laundering cases only. The casinos will make themselves clear if any money laundering cases is registered with the help of KYC. Hence, I highly doubt that anyone will stop asking for KYC. This has really became a mandatory process for all the big and reputed casinos.

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Quote from: Cantsay on May 04, 2024, 06:27:16 PM

Do you think a time will ever come when Government will allow casinos to operate without them requesting kyc verification from their customers?

Remember that it’s still this same government that have been fighting decentralized and have seized several mixers - if casinos are allowed to operate freely and money laundering is detected do you think they’ll last? Do you think the government will turn a blind eye on it?

Not all casinos do require KYC from their customers though, the same way we have decentralised as well as centralised exchanges, that's how it also is for casinos, there are those operate without even requesting customers personal data, ones that respect their customers anonymity and privacy.
So it all depends on one's choice of casino, but for those casinos that requires KYC verification from their customers, I don't think they'll have any reason to stop because the information they acquire from the customers actually goes straight to the government and not for their personal use.

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

Could be the case, could not be. Depends on what really matters for the casino itself. The quality of the customers they serve, or the amount of customers who can just walk in on their sites without any issues or qualms about verifying their identities and shit?

I feel like some casinos will definitely choose quality over quantity, and would retain the use of KYC, besides, it's much more tiresome to delete a feature than to keep it as it is when no one's enforcing its removal anyway. On the other hand, there will be casinos that would immediately take the verification system off as they themselves see this as nothing but a shackle that keeps them from expanding to gamblers who are exclusively gambling on casinos with no KYC requirement, no matter how small or niche that community is.

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

We do not really need to make any guesses to know what it will happen as we saw what it actually came to happen, casinos did not implemented widespread KYC policies until the governments mandated them to do so, what does this tell us?

That casinos are perfectly fine with letting gamblers bet as much money as they want without forcing them to identify themselves, as casinos do not really care about that information, what they care about is the profits they can make, and a higher level of privacy gave them an edge over fiat casinos they could use to their advantage at the time.

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

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I'd say they'd still continue it. It's basically a free source of customer data which they can use to tabulate and formulate marketing plans. As for customers complaining about KYC, well, they've already done so for years, I highly doubt they're still going to complain midway. Maybe if a big casino started removing it then yea, others would definitely follow suit, otherwise I don't think they'd remove it. Plus, even if we do say the government didn't make it a necessity, the casino would be plagued by criminal activities and what's the only method of defense that they would have? KYC.

But if it ever happens, casinos would probably be made to be closed down by the government again or make KYC return since the place would be rampant with money laundering schemes and other similar stuff they're able to do there. Highly doubt the government would ever rescind KYC as well.

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were.

That a casino asks you to do a KYC verification doesn't mean they are going to treat you better or give you any priority than those other registered customers that have not passed KYC. The KYC is just to verify their customers identities so that if there is any ugly situation, they can easily phish out the user who committed such an ugly incident.

Casino are aware that so many people hate KYC and therefore if government doesn't deemed it necessary for them to do KYC, they might remove the KYCs option but do you think government will ask casinos to stop KYC? The answer is no!

The government is very concerned about money laundering cases, and if, by mistake, someone wants to clean up tainted money through the casino, the government will get the person's details through their KYC information from that casino.

Cantsay

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Do you think a time will ever come when Government will allow casinos to operate without them requesting kyc verification from their customers?

Remember that it’s still this same government that have been fighting decentralized and have seized several mixers - if casinos are allowed to operate freely and money laundering is detected do you think they’ll last? Do you think the government will turn a blind eye on it?

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Quote from: Rruchi man on May 04, 2024, 06:23:31 PM

Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

the objective of kyc is not for government is to be assure of the particular account so that they will not be commitment of any site fraud with the such a particular account government cannot demand for kyc verification of any account it is that particular platform that will demand for it because they know actually what is their target and there are selective to know people who want to patronize them I think about it should be the essence of having a kyc

Rruchi man

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Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?

Topic: Do you think casinos can stop demanding KYC? - page 13. (Read 1767 times)