Topic: How Confident Are You In The Reliability of the KYC system (Read 979 times)

Licenses and permits would really be that mainly needed for you to operate something like this or a business on which it would really be normal that they would really be needing to abide with those rules and guidelines on which it would really be normal that KYC would really be strictly be implemented specifically for the situation where funds had reached out on a specific threshold.

In speaking about reliability then there no way on knowing that but there's no other things that we could really be able to do so considering that they are the ones requiring and the ones who would be storing out those informations that had been gathered. The bad thing with KYC is that you arent that anonymous anymore and also if you are that someone who do really boggled up with privacy then this would really be a big hindrance for you to proceed on dealing with it. In overall we do know that we are living on a world where government do really loves on touching up everything from head to toes and there would be no things that would really be able to escape from their radar or vicinity on which as much as possible, they would really be that love on involving on everything.

I think the same, I know that many casinos are asking for the personal information of their clients as they are being forced by the issuer of their casino licenses to do it, but the requirements to pass the verification process is too high and are probably the harshest most people will ever encounter, where I live not even banks have such high requirements of only accepting your passport as a proof of your identity, and even fiat casinos are more reasonable on their requests for personal information, then cryptocurrency casinos run the risk that if they do not change this attitude they could begin to lose clients to fiat casinos.

Not at all dude.. The KYC system wasn't made to implicate or serve as a deterrent to anyone that hasn't completed it format - at the same time, I dunno the casino you speak of and cannot make the air foggy with suspicions already... ( This is KYCs on casinos not cryptocurrencies)
Well, since that's also a kinda bypass for anyone, any casino with a nefarious motive can always wanna punish you with every proceed yet, complain that Thier standards aren't met... especially if it was a huge winning..
Reporting them for questionings would also be a good idea too.

Sandra 🧑‍🦰

I agree, most of the time people don't have documents like passport and also how to hand in proof of funds and proof of address because they live in their parents' house, for example a person can be 25 years old and be living in their parents' house. parents, so the proof of residence documents will be in the parents' name, things like electricity bill, water, internet, tv everything will be in the parents' name so when they ask for kyc it won't be able to go through kyc, as if that is no longer if that were enough they also don't have a passport and in some casinos they don't want the national ID issued by the government, they want the passport

and again as if that wasn't enough they still ask for proof of funds, many people bought cryptocurrencies using their bank account for years and did hodl and when they take the coins they've been doing hodl for years and deposit it in the casinos and when the casino asks the proof of funds this person will not be able to post proof of funds and as a result they are counter-banned and the casino confiscates everything the person won or had at the casino. so this question of kyc is something that needs to be reviewed, I'm not saying that they shouldn't ask for kyc, but I think they could moderate looking at the situation of the crypto market which is different from fiat

You also have to see many things, the first, if a person does not want to give their KYC, they have the right not to do so, it is the person's decision and nobody else's, nobody likes to do things forcefully. , and seeing that this kyc is required by the governments does not make sense, whoever does not like the rules should thank the governments because it is something they do not like, so I think that things can be seen like this here, in part that is a one of the reasons, and the other reason is because people don't like to leave their identification anywhere and even less in a casino site because the risk of losing data is always there.

I have read many things about KYC, among them that those who give KYC have more options to recover their accounts, possible scams, if the casino suffers a hack according to their KYC they can return the funds, there are many things that are beautiful, the They can really make anyone fall in love, but of course all this has its cons, the fact of filtering the data in any of the scenarios is something that can happen, but nevertheless when we emphasize that possible vulnerabilities from the casinos there is additional protection from The data is something that can be given and not stolen at once, so this can give hope that the KYC data is kept with great care.

At the end of the day we must accept something, in each casino there will always be the option of KYC, and that is something that will take them all, there will be none that escapes, except for those casinos that are decentralized, for the rest I think that we must all stick to them, we cannot go against the grain.

I dare posit that all individuals would concur to undergo KYC procedures upon attaining substantial victories, for it pertains to the monetary influx destined for their coffers.

KYC in the realm of casinos ought to embody an egalitarian principle. Meaning, those who execute modest withdrawals must receive identical treatment as those partaking in grander transactions.

Personally, I have yet to encounter a windfall of such magnitude that would compel the casino platform to demand KYC documentation. Nevertheless, I am willing to divulge my identity if ever thrust into such a position. In the ordinary course of gambling, there exists no incentive whatsoever to engage in KYC procedures.

This worry about data security is warranted; individual confidentiality is of paramount importance in the modern information society.

In reality, the simple KYC procedure you advocate is anything but. Sending private information over the internet carries with it a certain degree of danger, even if it's only typed down or photographed. In the digital sphere, there are actual dangers such as data breaches, identity theft, and information misuse.

While KYC checks are important, I believe we should put more effort into campaigning for stronger data protection rules and enhanced security measures rather than fostering blind faith. This is gambling, after all, so we should play it safe, even if it means risking our information.

I would say that I'm those who are ok with KYC in exchange but I'm not ok with KYC in gambling platform. Why? because both are different activity which has different regulation in my country. Trading in exchange is legal while gambling is illegal in my country so I do not want to submit my personal documents into something which is considered as illegal in my country. Although some other people in my country do KYC in gambling platform, but I dont want to do it because of my own preferences. I prefer to be save than sorry later.

That sense of security and calm allows us to play gambling comfortably in a big, trusted and reputable casino and that's what we want to get. The casino can also provide security in protecting the personal data of each customer and will not let them down. Later KYC will become an obligation that must be followed by every gambler at a crypto casino because now many crypto casinos have started to implement it. However, some are still not too strict in their implementation. This still provides an opportunity for gamblers or beginners who want to look around for the casino they want so they don't immediately do KYC. But they must understand that the casino can ask them to do KYC anytime.

Even if a casino isn't suspicious but just new and doesn't have a trust score and a good reputation among the community, one should still avoid it because there is no guarantee that they will turn out to be good in the future, so if they make up their mind to complete KYC verification and provide all the details and information to the platform they are using, it's much better to look for one that is used widely among the community members and is trusted.

A platform that is new might not stop your withdrawal but if they ask you for KYC verification, you will always have the fear that what if your details and information is used negatively, or maybe sold to another company or an individual where it might be misused because it's private and personal information.

He has no choice other than complete KYC verification. To be honest, if KYC is just a common thing these days. People were feeling no problem in completing their KYC once they sign up on exchange sites. I don't know why people gave different reaction once they were dealing with gambling site that required their verification. KYC was not important for the gambling site but it's only for filling the requirement to comply with the regulation.
KYC requirement was coming from regulators to prevent money laundering. Even people were selling their identity so cheap these days.

Exactly. While I understand the hesitation and sometimes outright reluctance to provide information thanks to these goddamn ad agencies using your data to target ads to you and perhaps even steal your information for more money, it's also established that KYC is something that will be a staple in this industry moving forward, and it's not like the process is arduous for the user especially when it's literally just typing your information and then providing some proof of identification which doesn't take a minute to take a picture of, all for a guarantee that you're in a trustworthy casino that's not going to screw you over your money. I know we're all gamblers out here but it's literally the last thing you should play with as a gambler.

this is why before you create an account to any of these casinos or bookies, make sure they have pretty good reputation in this industry. because if you will be a loyal patron, you are also preparing yourself to trust your funds to the site. and if their terms state that you need to undergo kyc for whatever reason they deem necessary, you should also prepare for that. so if you are complying with their kyc, better be honest with your details the first time you register your account so you won't have any issues later on.

And in light of this gamblers need to avoid suspicious casinos without a reputation that offers them the ability to gamble without KYC, as if they happen to win big then they will be asked to pass that verification anyway, without any guarantee they will receive their withdrawal, in that case it is better to gamble at a reputable casino and accept the fact that at some point we will have to verify our account anyway, but at least on the case we were lucky we will be sure we will receive what it is owed to us.

KYC is unreliable. There is nothing better to say about it, really. It is meant to be a system which helps the government make sure that individuals and their money are tracked, but also to make sure that the casinos don't let just anyone use their services. So on one hand its a system that restricts your freedom but at the same time ensures that kids are not gambling their parent's life savings away.

But where does the KYC data go? They demand government identification documents from us and that could be used by scam casinos or identity thieves to do some real damage. Especially to the person those documents belong to. No centralized entity can be trusted nor should they be. But that is the only system that we have, which is accepted by the government. There does not seem to be a different way around it.

This thing will be over in near future when every single casino and gambling platform will be highly regulated and there will be choice for people not willing to do KYC today to go and gamble, if they wish to keep gambling, they will have to complete their KYC verification at a casino that they trust the most, which is what everyone should be doing today as well but some people just don't understand and they think their privacy and anonymity is too important.

I would always prefer a casino that can keep my funds secure instead of a platform that won't ask for my KYC, because we all know that at some point, we do have to provide our identity be it for a withdrawal that consists of a high amount or anything in general, so why not now?

Apart from that, that same gambler have his own right to refuse in gambling towards a casino that is implementing a KYC and seriously there is no need to leave some comments behind if he/she doesn't want to be part of it as we have our own specifications when it comes to choosing the right casino for us. And in the first place, a lot of factors should be considered, not just the KYC or no KYC alone.

Every gambler comes from every country with different regulations, some argue that they do not provide KYC because country regulations reject gambling activities, this is different from KYC on exchanges because some exchanges have been officially registered with government licenses. I agree with your opinion, they don't do KYC not because of privacy factors but there are several other factors such as related to gambling regulations in the country, but any gambling platform now requires KYC verification, so all gamblers already have a KYC verified account because they don't have the option to gamble on top gambling platforms.

I think we don't need to be hypocritical about KYC if we really object to KYC we should be able to leave the site instead of complaining about the KYC, I think we have to respect the casinos with the rules they have and of course they will also respect us as gamblers, so there's nothing wrong with trying KYC free sites if it looks complicated sites that implement KYC.

I'm not a hypocrite with that even though one time I was asked to complete KYC, I will give it because I play on licensed sites of course I have to comply with the existing regulations, although at this time I was not asked to do KYC because I was only a small gambler withdrawing small money also betting with small money, but if at any time I withdraw big money and asked for KYC I have prepared it.

I'm sure most people in this world who have their own identity documents has already shared it some where else in the internet as what you mentioned.
However why some of those people bother to give it into casinos, there must be some other reasons.
I have a friend who do not want to do KYC in casinos although he did it in exchanges or other online services.
The reason is simply because he does not want to connect his identity into something which is considered as illegal activity in my country as it may affect his real life career.
So basically bothering to do KYC in casinos is not only about pure privacy reason.