FreeBitco.in is no longer a KYC free casino! (New terms) - page 4.

aioc

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Quote from: Mahdirakib on July 17, 2023, 02:40:39 PM

FreeBitco.in is no longer a KYC free casino

Freebitco was known as a KYC free casino since it was created. But recently they have changed their terms. Now there are a lot of rules in the new terms of Freebitco. They have applied restricted jurisdiction rules as well. Based on this rule, a user shouldn't use FreeBitco.in if he/she is physically located in those restricted countries. Even they have added possible identity verification rules.

After nine years they finally gave in to the authorities, FreeBitco.in popularity exploded because of their no KYC and easy terms which is why it's the most promoted platform, its easy to promote this to newbies or who are just starting out investing in Bitcoin and playing in the casino because of their faucets, bonuses, and referral rewards.

The big question here is what will happen to those who are in restricted countries with a lot of referrals there are members with hundreds of referrals that live in the restricted countries, FreeBitco.in will lose a lot of members because of this.

CarnagexD

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Quote from: Mahdirakib on July 17, 2023, 02:40:39 PM

FreeBitco.in is no longer a KYC free casino

Freebitco was known as a KYC free casino since it was created. But recently they have changed their terms. Now there are a lot of rules in the new terms of Freebitco. They have applied restricted jurisdiction rules as well. Based on this rule, a user shouldn't use FreeBitco.in if he/she is physically located in those restricted countries. Even they have added possible identity verification rules.

I believe that most of the forum members have an account on FreeBitco. Don't forget to read their new Terms. Based on the new terms of Freebitco, the website is owned and operated by "FBC BV". Perhaps, they have registered a licence under Curacao (I'm not sure about this yet).

You may follow this thread to get updates about the casinos License and KYC requirements: Information of Crypto Casinos License and KYC requirements.

Note: This topic is self-moderated in order to avoid gambling board spammers. Don't make off-topic discussions, and avoid spamming here.

The changes would definitely both have the ups and downs. Probably those players who cannot meet those compliances may not be able to participate again on games, promos, and casino projects. So many participants before may not get hoped in. But in exchange, this will be a great advantage on big players, the owner of the casino, and other stakeholders. Because this will help to raise the credibility of free bit io since here is more emphasis on the privacy and terms of the website. Scammers and fraud will be lessen or eliminated.

goldkingcoiner

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Something about the timing of this news is kind of strange to me... Centralized platforms, whether online cryptocurrency gambling casinos or cryptocurrency exchanges are going through with implementing KYC, seemingly as though they have been forced to do so quietly by the government.

A few days ago Kucoin exchange switched to KYC, as though under some coercion. Despite being non-KYC for such a long time now. Now Freebitco.in is going KYC too? Something is going on... A few months back people started warning others to take out their money from centralized exchanges...

Although I do not mind following anti-money-laundering laws and such, I am very skeptical about providing government documents which can be used by identity thieves to take out loans and commit crimes in your name. ID theft has ruined lives.

We need decentralized technology to up its game and we need more advanced decentralized gambling platforms as well as exchanges. Undecided

avp2306

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Quote from: Wapfika on July 18, 2023, 05:36:22 AM

Quote from: ultrloa on July 18, 2023, 05:20:36 AM

Quote from: Haunebu on July 18, 2023, 04:18:59 AM

Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.

Sad to see Freebitco go this route by adapting in this manner in order to survive.

If they didn't adopt then maybe they might suffer some problems on their operation so good thing they comply since we will see them how serious they are for maintaining their casino. Also we shouldn't get worried about it since for the longest time of operation they already gather good reputation so I guess this KYC implementation will not be a provably to majority of their gamblers.

As per Quinn's reply few posts above, They just update it to become more professional from a legal perspective but they still didn't implement it at this moment. The casino still running on the same rules and the ToS update is just for professionals and at the same time to protect them when regulators start to knock on their door. I think this should be highlighted to avoid confusion but maybe in the future, they might fully implement it. No one knows when.

Yes this should be highlighted correctly since there are people doesn't really read the implementation they do and just been scared about the word Kyc since maybe some of them still skeptical about this even if the casino is considered as one of trusted in this forum.

But at least there's good updates that we can see so those user can still use freebitco.in just like what they use to be and just prepare for future implementation so no more confusion will happen.

Wapfika

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Quote from: ultrloa on July 18, 2023, 05:20:36 AM

Quote from: Haunebu on July 18, 2023, 04:18:59 AM

Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.

Sad to see Freebitco go this route by adapting in this manner in order to survive.

If they didn't adopt then maybe they might suffer some problems on their operation so good thing they comply since we will see them how serious they are for maintaining their casino. Also we shouldn't get worried about it since for the longest time of operation they already gather good reputation so I guess this KYC implementation will not be a provably to majority of their gamblers.

As per Quinn's reply few posts above, They just update it to become more professional from a legal perspective but they still didn't implement it at this moment. The casino still running on the same rules and the ToS update is just for professionals and at the same time to protect them when regulators start to knock on their door. I think this should be highlighted to avoid confusion but maybe in the future, they might fully implement it. No one knows when.

ultrloa

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Quote from: Haunebu on July 18, 2023, 04:18:59 AM

Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.

Sad to see Freebitco go this route by adapting in this manner in order to survive.

If they didn't adopt then maybe they might suffer some problems on their operation so good thing they comply since we will see them how serious they are for maintaining their casino. Also we shouldn't get worried about it since for the longest time of operation they already gather good reputation so I guess this KYC implementation will not be a provably to majority of their gamblers.

piebeyb

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As an old user, I just found out about this new regulation, it really surprised me because as far as I know, so far, FreeBitcoin is KYC-free, I think that maybe many users are abusing this site so that it makes the rules more stringent, indirectly maybe I will support this if this regulation is for preventing multi accounts that have been seen messing up all the faucet prizes and hurting honest players.

I just saw this thread maybe I'll keep track of the progress of the TOS changes on their site. I also hope that the new terms of their site can produce something good in the end in their favor, honest users and playing fair all this time. often see a lot out there about bots and abuse to get btc from this site. very sad

Haunebu

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Nothing surprising. More and more crypto gambling sites are enforcing KYC under certain conditions with time due to regulatory pressure which is perfectly understandable, but mandatory KYC isn't understandable at all.

Sad to see Freebitco go this route by adapting in this manner in order to survive.

TheQuin

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Quote from: iv4n on July 18, 2023, 03:48:47 AM

Quote from: Crypt0Gore on July 18, 2023, 03:25:16 AM

...
TheQuin, KYC can't stop multiple accounting, this days it's easier for people to pass KYC verification with different KYC information and all still belonging to one person.

I don't think that a 100% effective measure against multi-accounting and bots exists. But KYC is probably slowing them down... I guess we can't really imagine how many people try to abuse Freebitcoin in some way on a daily basis. When some free money is involved it can be really messy from what I know.

I am glad to see TheQuin joining the conversation. I guess we can relax and continue to be active on Freebitcoin...

Even if it wasn't easy for people to fake multiple IDs it wouldn't be viable as means to stop multi-accounting because of the costs associated with verifying KYC information. It would be far too expensive.

iv4n

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Quote from: Crypt0Gore on July 18, 2023, 03:25:16 AM

...
TheQuin, KYC can't stop multiple accounting, this days it's easier for people to pass KYC verification with different KYC information and all still belonging to one person.

I don't think that a 100% effective measure against multi-accounting and bots exists. But KYC is probably slowing them down... I guess we can't really imagine how many people try to abuse Freebitcoin in some way on a daily basis. When some free money is involved it can be really messy from what I know.

I am glad to see TheQuin joining the conversation. I guess we can relax and continue to be active on Freebitcoin...

ethereumhunter

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I am not surprised to see that. Finally, freebitco follows the other casinos to implement KYC for some of its members from certain countries. This is likely to happen to other crypto casinos as the government is currently monitoring them and one day, these casinos will also be required to implement KYC. I already predicted this would happen some time ago.

But it is true what @TheQuin said. It makes freebitco reach new levels and become a more serious and professional business. Members will see that this new ToS can become a sign that freebitco is a legit site that has operated for a long time. From a joke site, become a professional site. This is a big movement for freebitco.in itself.

From the list shown by @OP, I can still play the faucet freely and hopefully, I won't be asked to do KYC later. And it seems that crypto gamblers can't play gambling freely anymore like before with the regulations implementing KYC, especially those used to using big money.

Crypt0Gore

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Much appreciated for the update, I don't even know until now and I still use my account on the website, I am think they have make it big this time and they have no choice but to comply and regulate the platform, freebitco started as a joke like all other faucets of it's time and now it's growing into a bigger gambling platform, if they are to keep running this business they have to get the necessary papers and of cos start asking for KYC verifications, I am not surprised this happened, it's been a long time coming for them to go this road, they don't have a choice it seems.

TheQuin, KYC can't stop multiple accounting, this days it's easier for people to pass KYC verification with different KYC information and all still belonging to one person.

TheQuin

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Quote from: Sim_card on July 18, 2023, 03:18:08 AM

~FreeBitco.ng has been pushed to government regulations and because they want to continue operating, they have to dance to the tone of the government.~

No. We weren't pushed by anyone. As I have already stated we just wanted to make the site look more professional. As much as I liked the old 3 line ToS it did look a bit amateurish. Getting the lawyers to draft up a professional ToS is something we've been mulling over for a couple of years.

Sim_card

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No business or casino can survive without being centralized. FreeBitco.ng has been pushed to government regulations and because they want to continue operating, they have to dance to the tone of the government. I don't think that any non KYC casino is legal because the government wouldn't accept such operation. Whatever,providing any casino with KYC shouldn't be what can stop one from having fun by gambling on their platform. I only feel for those that has some funds in their FreeBitco.ng wallet and their country was among the restricted countries,something should be done fast on how they can make a withdrawal of their funds.

TheQuin

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Quote from: Kakmakr on July 18, 2023, 02:10:21 AM

I hope "restricted" users will not find that their accounts are going to be "locked" and withdrawals being blocked?

I have already answered that twice. The only blocking is for multi-accounting and botting.

Kakmakr

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This is devastating news, because Freebitco.in has always been the last bastion for Bitcoin's pseudo anonymous services. I have been a member of Freebitco.in since the days when they were simply a faucet.

Wetsuit completely changed that business model back then, because the faucet were not sustainable with the advertisers not willing to pay for "poor" traffic. (their target market are not people who rely on hourly faucet drops)

I guess they are going to legitimize the site now, but they are going to lose a lot of users. Wetsuit obviously did the math, so I guess it will not bring down the site, but people are not going to be happy with this decision. Roll Eyes

I hope "restricted" users will not find that their accounts are going to be "locked" and withdrawals being blocked?

TheQuin

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Quote from: Mahdirakib on July 18, 2023, 01:38:19 AM

Quote from: notblox1 on July 17, 2023, 05:12:34 PM

Do you know any player at Freebitcoin who was asked to perform KYC verification?

They have implemented the new terms in this month. Probably Freebitco team hasn't applied the identity verification rules to anyone yet. But they might do it in the near future.

It was about weeks ago. No we haven't and I very much doubt we ever will.

~

Quote from: Mahdirakib on July 18, 2023, 01:38:19 AM

Quote from: TheQuin on July 18, 2023, 01:18:05 AM

It isn't having any effect on how the site is run. The only issues I deal with are multi-accounting and botting abuse.

But how will the terms affect those users who already have an account in Freebitco and physically located in those restricted countries?

I was as surprised as everyone else when the ToS was updated. I haven't been given any instructions from wetsuit to implement any rules over and above the old ToS or how to answer these questions. As far as I understand it simply gives us legal protection in CR to state that users are responsible ie "You agree that" which means it's not our fault.

crwth

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It must have been something related to regulatory frameworks, and they have probably been approached by gambling authorities or any other authorities in its operating location.

Maybe it's also their choice to have the restrictions because of possible problems they encounter.

Fraudulent Activities
Compliances to governing entities
Reputation
Responsible gambling
Expansion of catered members

There could be a lot of reasons for them to proceed on that, but maybe it's for the best? Idk. Is anybody against it?

Mahdirakib

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Quote from: notblox1 on July 17, 2023, 05:12:34 PM

Do you know any player at Freebitcoin who was asked to perform KYC verification?

They have implemented the new terms in this month. Probably Freebitco team hasn't applied the identity verification rules to anyone yet. But they might do it in the near future.

Quote from: Wexnident on July 17, 2023, 06:02:04 PM

I'm guessing they got hit by their website hosting provider or something? Since afaik Freebitco.in doesn't have Curacao so that can't be it, ~

Hosting provider has nothing to do with the terms of a website. Freebitco doesn't have any gambling license, but now it seems like they have got one. I have mentioned it in the main post too. FYI, all the terms have been added recently in Freebitco. The inactive account related term is new too.

Quote from: babygun on July 17, 2023, 08:36:11 PM

Didn't see this coming and the question now is: how to continue when you are in of those countries? ~

Well, this is going to be a serious issue for the implementation of the new terms. TheQuin has already given a reply above.

Quote from: Cantsay on July 17, 2023, 09:14:35 PM

~snip~ or am I missing something here?

Based on the terms, the will use a "third-party information provider" service for the identity verification process.

Quote from: noorman0 on July 18, 2023, 12:18:29 AM

~ can someone provide a link to T&C in logging in state?
Freebitco also restricts curacao users, ~

You can check it from any browser with which you aren't logged into Freebitco. There is no dedicated link for the terms page of the site. Curacao provides online gambling license, but online gambling is illegal in Curacao.

Quote from: TheQuin on July 18, 2023, 01:18:05 AM

The BV is actually in Costa Rica rather than Curacao so there's no licencing issue.

Thanks for the reply. I thought FBC BV is under Curacao as there is a registered company with the same name on "Curaçao Commercial Register".

Quote from: TheQuin on July 18, 2023, 01:18:05 AM

It isn't having any effect on how the site is run. The only issues I deal with are multi-accounting and botting abuse.

But how will the terms affect those users who already have an account in Freebitco and physically located in those restricted countries?

TheQuin

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Quote from: FinneysTrueVision on July 18, 2023, 01:07:40 AM

Setting up a BV, privately held company, is a requirement for acquiring a Curacao license so they are either already licensed or in the process of getting licensed. Once you are a licensee you are not allowed to accept citizens from Curacao.

The BV is actually in Costa Rica rather than Curacao so there's no licencing issue. We actually moved the company there a while ago and wetsuit had discussed with me the possibility of adding new ToS at the time. The only reasons we discussed were to make the site look more professional and to keep the lawyers happy about not violating any CR laws.

It isn't having any effect on how the site is run. The only issues I deal with are multi-accounting and botting abuse.

Topic: FreeBitco.in is no longer a KYC free casino! (New terms) - page 4. (Read 1033 times)