Topic: Do you think casinos can stop demanding KYC? - page 8. (Read 1758 times)

Government will always demand that casinos collect kyc from its customers. I see it as their own responsibility to protecting their citizens from fraud and to also know casino that are reputable or not. Any government that does not allow casinos to collect kyc verification from their customers is complicit in the crimes financial crimes that take place in that casino.

Yeah you are right, do you know that as the casino is registered to the government, the government will always give the casino their own terms, and the terms includes both KYC verification and lots more, both the amount that the casino will pay to the government. Many government have good reasons for giving out their own terms, so that people that will use the casino will not misuse it.

I don't think so, the government had reasons for making sure casinos use kyc verification, against money laundering and to keep the law of above 18 gambling rule, I don't think there would ever be an innovation out of this.

Well I don't blame the government for this, in times past casino has been used by scammers to transfer money around, so the government issued verification orders to stop some of this actions, it's not so bad, what's the deal anyway, why do people complain about kyc verification all the time ?.

Centralized platforms like casinos have to follow laws of their country's government or suffer the consequences.  The casino itself does not really have a choice in the matter.

And we are talking about laws that poorly hinder money laundering in the first place, so we have to really wonder whether or not the KYC procedure is not an unnecessary infringement upon privacy.

I am against KYC.

Why do I have to put myself at risk for identity theft just because the government is obsessed with control? I do not want my government-issued documents to fall in the hands of some third party.

Well i think it's due to the high level of online fraudulent activities currently thst triggered most casinos to start implementing the KYC policy, especially with those online Crypto casinos that have the interest of their customers security at heart. Well it’s not a bad implemention to help make sure bettors don't use the sites to launder money or cases with hackers, having easy assess to bettors funds.

 But some companies are not very transparent with their KYC policy, they make it very hard and frustrating for customers and i believe that's why some individuals are against the KYC policy, not that they feel it's bad but with the frustrating experience they've had from most online casinos. Well with the high crime rate online lately i think more gambling platforms would begin to  implement KYC policy instead of revert it.

They say that only casinos with licenses are the ones who can demand a KYC and I think it's also possible for licensed casinos to have their licenses removed, therefore it is truly possible for KYC-based casinos to become non-KYC casinos again.

I believe that for most casinos, what only matters to them is to have more customers and it does not really matter if their customers are criminals or what, so they are not actually fascinated by this KYC thing. Wagering requirements after a deposit can somehow help money laundering, so KYC must have a different purpose. There is also this one casino where I play that doesn't have wagering requirements after a deposit but still has a KYC.

That's the big deal about it, but kyc is really an important factors to run their casino because of security reasons due to fraudulent activities. As money launderers circulated around internet's anonymous identify, KYC is very important to prevent their unacceptable behavior.
This cases were very rampant and it's a very dangerous issue in which gambling operations facing every day, that's why they really need to do all sorts of limitations in order to run the system without any further circumstances.

Some years back, there was a popular betting site here in my country, and the funny thing about the betting site is people can use to to fraud because it doesn't requires KYC before withdrawal. In that betting site you can easily deposit money with someone's bank account and you can also withdraw the funds freely without betting with the money you deposited, even when you create acct newly on the site. But now based on the complaints, the company have updated their site in such away that you will need a KYC before withdrawal. So in this case, I also don't think that casino will stop demanding for KYC, I don't know about the next generation of casinos but I strongly belief that casinos can't stop demanding for KYCs

If  you’re really interested in your security  that the thrills of making money then Decentralized casino should be your priority not the other way around - in centralized exchanges you’d definitely be asked for kyc which some people see as a risk for them, since they’ll have to give out their personal information to the site (although that’s not the case for me). The only reason why I don’t use a Decentralized gambling site is the fact that I just dint trust them yet (for a reason yet unknown to me ).

As far as I understand casinos will not stop kyc as there are many gamblers who can commit fraud so casinos will have kyc for security and customer convenience. KYC to know about customers and collect and store contact details. Casinos also use KYC for customer identification as part of the account opening process at financial institutions. Good quality casinos facilitate their sites through kyc.

Casino will still use KYC for their members even if the governments doesn't requires casinos to do KYC verification for their members. Casino is already gets the benefits of knowing their customers so they will still apply that, especially for their members who used a lot of money to playing gambling. Knowing their customers helps casino to identify every customers who playing gambling on their casino. Casino can prevents the money launderers doing their action on their casino because casino will trying to figure out people who use the big money to playing gambling and make sure that they are not the launderers. If their customers doesn't use too big money to playing gambling, casino will not asks them to do KYC verification so it's better we don't use too much money to playing gambling if we wants to avoids KYC verification.

That's why even gambling without KYC in other platforms are available, I still prefer to play with apps and companies that requires KYC first before playing. Because for me, my own security is more important than the thrill of betting and making money. Also gambling sites with KYCs are often the reliable one's because they know who their participants are and they have the data for who are playing with them. They are regulated the first place and if that's the case, fraudulent activities are less likely with these gambling sites.

They're all for the customers but because of government rules and to make their business legal, they have to obey the rules that are set on them.

During the early days, most of them are unregulated and not forcing everyone to do KYC and that's why we're all like living in peace as there's no intervention of regulators.

But today is different and we have to adopt that as well.

I am not a casino businessman so the answer I will give is just as an ordinary player, in my opinion online casinos will change to not using KYC anymore if the government does not require them to implement KYC, however gambling sites need big money coming in, they will definitely will make it easier for users who carry large amounts of money, without thinking that it is criminal money.

I think that change is no longer worth waiting for. The verification rule has become so basic that no one is particularly against it. Verification is the safety of the player, including the basis of the security of the game provider, but we can assume that through casinos they can launder funds through accounts that do not have verification? for now this is a win win solution.

If they are licensed then there's no way that these things could really be removed out and also come to think that when it comes to this manner on which making up some verification into those people who are tending to abuse the site will really be having this kind of verification on which this is something a method on which they could really be able on doing so. Therefore, we shouldnt expect that they would really be removing out soon. Casinos whether offline or online then they are really that regulated and this is something that we should really be expecting out no matter what.
There might be still platforms nowadays which are remaining not to be that asking KYC but sooner or later they would really be switching up.

So far there are still platforms which are really that still into this kind of set up on where they do ask out KYC on the time that you do violate something or you do able
to hit up their withdrawal threshold on which this is something that you would really be expecting.

I don't see any reason why the governments will stop demanding KYC and remove all the rules and regulations against casinos and all other platforms. They need taxes and information about who is doing what, and they won't be able to do that without regulating the platforms and asking them to demand KYC from their customers. So, even though it can be a hypothetical question or situation, it is never going to happen in reality.

In my opinion, if the government doesn't care about money launderers and frauds anymore, casinos wouldn't as well because most casinos understand that a lot of gamblers don't like revealing their identity even if they are not doing something bad, so they might use this opportunity to become kyc-free so that they can get more customers.

I don't think that they could specially if they want to be legitimate or legal.
They need to know if their players aren't playing in a country that is against gambling, also to know if they aren't underage.
They need to know those info and verify it so that they wouldn't face any charges.

Most of us have already responded and the majority don't like it. But even if we don't like it, we have to respond accordingly and we can't do anything with it when most casinos does it. And if they do levels of kind of kyc, that's good as long as they put limit and they're not going to ask that much information which kind of fair for most. Because the big gamblers that are cashing out with big amounts, they have to be asked for it with more identities.

I don't think that they'd still do us unless they're willing to sell out their business already and whatever happens when the law starts to check them out. They have to bear with the consequence just to get back most of their customers.

Nah, it is still them and we don't have a say on it but the bigger say with these decisions are the authorities and them.

Well, the long and short of the matter is that, there will never be a time when the government will turn around to ask casinos to stop collecting kyc data from their players or users, but rather, the government may or can even in the future apply stricter force or measures to ensure that all the online casinos that are registered comply with the mandatory customer kyc requirement, and they may at that time as well go after casinos that are not yet registered and hence, possibly not exercising the mandatory customer kyc policy.

But then on the other hand, if at all we will arrive at a stage where the government decide to stop online casinos from making their customers undergo kyc verification process, I trust that alot of casinos will immediately comply with the directive, most especially big casino like Stake that are not really after their customer's personally Data, but are more interested in providing a good and quality gambling platform and experience for her users and so on.
But another thing is, those casinos that possibly have discovered the good in customer kyc and want to go against the directive of the government to keep forcing kyc verification on their users for their own personal profit, such casinos will be boycotted by many, and if they don't turn around to do the right thing, they will definitely lose all their customers.