Topic: Information of Crypto Casinos License and KYC requirements (Read 4422 times)

It is impossible to file a claim against such a casino in court simply because in this case the applicant, the plaintiff, will be forced to fully disclose his identity and everything related to his anonymity when playing in the casino automatically disappears.
 In addition, if we are talking about really large sums blocked by the casino due to the player’s failure to provide personal data for KYC, then I can’t imagine how such a player will be able to prove in court that in this case of games in casino the anonymous player is this particular person, the plaintiff, and not some other figurehead.  And it turns out that even in this case it is almost impossible to sue the casino for winnings. 
So it’s right that you regard the casino’s requirement to conduct an unexpected KYC when withdrawing won cryptocurrency as a hidden form of fraud on the part of the casino itself.

The actual fact is that I think gamblers have gotten comfortable and are already used to this what seems like a tradition in terms of asking a gambler to submit his or her personal documents for kyc verification only when the gambler wins a good amount of money and request a withdrawal of the funds, or some of the funds.

Many gamblers have issues with kyc and this is what the casinos are already riding on to manipulate gamblers, gamblers don't have issues playing all day on a casino where they can freely deposit and play without being asked for account verification which requires them submitting their private and personal information, while on the other hand, some casinos are riding on this to manipulate gamblers as they usually will allow gamblers deposit, play and lose without them asking the gambler to pass kyc verification, but immediately the gambler wins a significant amount of money and places a withdrawal request, the casino hits back on the gambler with a mandatory account verification before his or her withdrawal will be processed, and this they do in a bid to see if the gambler will get angry, prefer to keep their personal information private, and thereby, forfeit their winning back to the casino since they won't be able to withdraw without going to the process of kyc.

To me though, this is a criminality in disguise, but I do not know how possible it is to sue a casino for such behavior, since they may still use what is written in their terms of service (can ask a user to pass kyc verification at any time and for whatever reason) to win the case.

The problem with that is that most crypto casinos, if they are licensed, are licensed in a country like Curaçao. Since the user generally does not live in Curaçao, he must have lost enough money so that it can be potentially profitable for him if he wins to hire a lawyer to file a lawsuit there. And then wait for the lawsuit to be resolved favorably, I do not know how justice works there but knowing how important casinos are for the economy of Curaçao I would not be surprised if the legislation and the courts tend to be more in favor of casinos.

It is a very bad practice and I think that sites that are using that strategy of KYC only in the customer wins and only if the customer wishes to withdraw and only when that happens are liable for legal claims from all fronts - from the client as this practice seems to be destined to deprive from earnings and the taxman, as the KYC is not required when loosing.

MGA gambling license is not only costly but also difficult to get. That's why all the crypto casino goes for Curacao gambling license instead of the complicated process to acquire the MGA gambling license. The reputation of a casino is more worthy than any license. For a new casino, a Malta licensed casino is more reliable than a Curacao licensed casino.

A new gambler should look into the reputation and dispute resolution strategy of a casino before choosing one. FYI, Malta Gaming Authority is more reliable for resolving the dispute than the Curacao Gaming authority.

I saw somewhere that the MGA license in principle costs more than the license from Curacao. Does it mean that casinos with a Curacao license are less reliable than those with an MGA?
Or its ok just to know that the casino has a license (doestn't matter which one) and that is enough for a beginner?

Update: I have rechecked the license information and KYC data of all the listed casinos. The table has been updated with the latest information which I have found during this process. Here are some major changes.

• Exbet has been removed from the list as the website is no longer accessible.
• MoneyPot has been removed as the website will shut down, and the game is disabled.
• Removed Punt.com from the list as they have completely changed the business model (from global casino to US only casino).
• Added two new casinos in the list, they are MetaWin and Wild.io.

I'm not going to mention any forum members directly here, but please avoid making the unnecessary and long posts about the KYC story. Most of these long posts aren't adding any value here. A short and valuable post is welcome in this thread. The purpose of this thread is to give the gambling community an appropriate detail about the casinos license and KYC data. Don't take it personally and thank you for understanding.

Many will question the reason why KYC is being asked of them but they do not know that it is for the sanity of this world. Without KYC, just as it was before, a whole lot of freeness happened and people perpetrated evils due to this and it wasn't for the good of the world and even the company we are talking about. Take for example, this forum, a lot of people have alts but are hiding it, but if KYC is introduced, you will see that the level will reduce. The process may not be able to entirely curb it but will drastically reduce it because you might not be able to get the IDs of other people you can impersonate, and you will see a whole lot of accounts abandoned by those who opened them in this situation.

The same thing happened in the past when you only needed your information and email address to open a broker account and start trading. This is worse when the brokerage company is offering a promotion. Some people might open different emails to open 10 accounts and collect the bonuses in all of the 10 accounts, there was cheating everywhere. Though cheating can't be entirely eradicated since some people still have access to their friends/family details/IDs, but it will limit it to the barest minimum. This is even very important as some will not be able to impersonate others.

What I cited is however a different clue among many that KYC is helping to block aside from the legality of it as required by the authorities

The fact of the matter is that legislators in many countries, demanding from various services, including crypto casinos, the mandatory introduction of KYC, have themselves given rise to another type of fraud.  It lies in the fact that with the help of fictitious KYC, some casinos are naturally fraudulent, using the requirement for the player to undergo KYC according to some rather complex procedure, sometimes even such that the player simply cannot provide as many documents as this casino requires.  As a result, the money the player wins is not returned to him.  And since there is no point for a player to go to court if the lost amount is relatively small, then the casino, after some time, when this player stops playing in this casino and considers it fraudulent, the casino simply appropriates his money.  For this type of fraud, all players should thank those short-sighted officials who included this very KYC check into the legislation, even in cases where neither the player nor the casino needs it, and no one needs it at all.  But officials, out of their stupidity, created a separate fraud channel under the guise of “fictitious KYC.”  And now no one knows how to deal with this.

All my gambling experience was on sites I heard about here on the forum. It caught my attention when I visited most of these sites that they have activity licenses from Malta. Matt encouraged me to research the topic a little.

In Malta, obtaining a license for casino activity is considered an easy and simple matter, as the government provides many opportunities and benefits for companies wishing to establish a casino. Malta is considered one of the leading countries in the online gambling industry, due to a clear and organized legal system that makes it easy for companies to obtain the necessary licenses. It also has a developed infrastructure and a distinguished investment environment that attracts investors from all over the world.
Given these factors, it can be said that it is easy to obtain a license for a casino activity in Malta, which makes it an ideal destination for companies interested in this field.

It should be noted that the ease of obtaining a casino license is not a free process, because this license will allow the State of Malta to track the financial activities of the licensed company and deduct taxes according to the profits it achieves. Of course, taxes will increase as profits increase.

Yes, I understand, because we live in a time of big data and user data is valuable to hackers and unscrupulous users. Being their product.
And many services, including of course online casinos, are created precisely in order to steal documents from the user. That's why I always use only the local casinos, the ones that we provide here on the signature campaign forum. This removes the risk of being robbed.

Casinos are not always scamming users.  First of all, there are some fake KYC located in this place.  This is regulatory compliance so for that, the casino can't do anything about it.
So instead of just putting all the blame on the casino first look at why KYC is there in the first place.
Surprisingly some casinos have deliberate and bogus KYC processes and requirements lately and these casinos are working to scam the players to steal their money or withhold the money under any excuse.

I also won on 500 casino but they don't told me to do KYC even after winning half amount of my deposit and withdrawn without any issue.
i think most people who complain like casino scammed them, most of the time they have their own fault.

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Also bigger sites like stake, 500 casino. they verify our documents for KYC from third party sites like sumsub which 500 casino uses and it is quick. I think the system automatically scam the documents and selfie.
it's too quick I like this type of hassle free KYC.

Right. That's why a lot of players are aggressive about this procedure of passing documents. While it is possible to imagine yourself in the casino's place and understand that higher authorities require this regulatory procedure in order to establish a connection between users of their money that they deposit at the casino. And this is not at all a whim of the casino. It's just that without KYC, people engaged in illegal activities will easily "launder" their income through casinos - by entering and immediately withdrawing money from gambling sites' accounts. And the KYC allows you to stop such illegal actions.

Casinos may or may not really aim at scamming users and as a matter of truth/fact, KYC is regulatory compliance so for that, there is little to nothing that the casino may do about it, and anytime the casino asks for KYC verification from players, it means there is a need for that player to go through with such verification to place them in the better position and proven states that can handle whatever that comes along the way while the gambler uses the casino,  much more also the casino will have to follow up with that rules to make sure that, in all senses, there follow the government regulations by asking for KYC from their players who have reached such trance hold.
So for me, instead of putting all the blame on the casino for simply requesting for KYC documents from players, I think it better we should just pay close attention to why the KYC is there in the first place.
Although some casinos have a deliberate and fake KYC process and demands, and we already know those casinos that involve is such scams, just to steal players' money by not verifying the account and letting them withdraw from it at some point.

It probably makes sense to resume the discussion about what is needed by gamblers from all over the world, of whom there are not only hundreds of millions, but probably even a billion people.  I'm talking about a license that a casino receives and which guarantees and confirms the honest operation of this casino 24/7.  However, of course, there is a license from Curacao and a number of other countries provide some kind of licenses.  But I'm talking about a special type of gambling license from a casino that uses cryptocurrency for payments and never requires KYC verification from players.  Now, of course, it is difficult to imagine such a license; the global dictation of financial institutions in the USA and their regulators in all countries of the world has not yet ended.  But this will stop soon, I hope.  And such a license will be issued by some bold jurisdiction.  All this is due to the fact that anonymity in gambling is required by millions of players around the world and humanity should not ignore these requirements.  And it should be taken into account in the practice of its development in the future.  I think it would be right for such proposals from players to be heard as often as possible and to be actively discussed at the level of government in many countries.

In this case or situation at hand, we cannot conclude on what is the actual experience with them regarding their operations back, but it's really unfortunate that no one is available in attending to all their informations and request, which also means that we should be reminded of making the necessary research and also making deposit of the amount of money we can afford to loose into gambling sites.

It is better to remove them for now so that any gambler that see that can be aware that the casino is no more among the active casino one can use to gamble. This is a very good step for everyone of us here to keep tracking casinos and know about them so that it could alarm those people that have funds on the casino so that they can withdraw it as fast as possible. Crypto gambling is one of the easiest way to bet without much problem to consider like using fiat casinos that might be stress to deposit and withdrawal funds is the user is from another different region.

There's nothing you would have done than to embrace the requirements for KYC as demanded from you, without having the chance of going through the KYC verification procedures, you may not be able to claim the winning prize and you may only have to use the money on playing bets on the platform, but as usual, everyone will like to make withdrawals whenever we had an exciting moments of winning a bet.