Information of Crypto Casinos License and KYC requirements - page 7.

danadc

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Quote from: BVeyron on March 29, 2023, 08:24:01 AM

Quote from: o48o on March 27, 2023, 02:12:58 PM

Quote from: Rating Place on October 14, 2022, 08:03:28 PM

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos.

That sounds like a conspiracy theory and only applies to scamming casinos. Real reason with legit casinos is that they are complying with AML laws. They are checking every account they are suspecting og faul play and are required by law to freeze their accounts and contact officials.

And if they want to handle fiat money in the future and be operational it would be foolish from them not to complain with AML laws, because why would they risk their existence and wouldn't do that?

License, as I understand, is more to do with law requirements, than with behavior of the licensed casino. Gambling is either banned or toughly restricted in most of the world, so it's really a trouble for such business owners to legalise the income from this, so that the little amount of places whose authorities are allowed to license casinos are in a huge favour of casino owners. So control functions of licensing authorities are a bit limited under such circumstances.

The authorities and everything that has to do with it will never support the casinos, because they do not receive money, everything is for the house and for the owner, the way they can control and receive some money is by demanding licenses and data to be able to start pressing, I think that things that are games of chance, sports betting are considered bad by many, and not as a Style of entertainment,everyone blames the casinos for addictions, but the culprits are not the casinos, They are the same people who do not control themselves.

Hirose UK

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Quote from: Mahdirakib on March 24, 2023, 01:22:38 PM

Quote from: Get-Paid.com on March 24, 2023, 08:38:53 AM

BitKong has been operating for 7+ years, the fact it has no license makes it less trustable?!

The reputation of a casino is more worthy than the license of the casino. But the gamblers search for the license of a casino now when a new casino arrives in the gambling world. There are few more old casinos running with their reputation without having the gambling license (Bitvest, Bustabit, Bustadice). The license will only cost a few thousand dollars while their reputation is worth than hundred thousand dollars. BitKong is trustable than a new licensed casino which has no reputation.

The license is used by the casino to get permission to operate with certain authorities and keep the casino from having problems with countries that prohibit gambling, but with a casino using a license it will ask KYC for gamblers who register.
In the gambling industry, licenses are now one of the virtues that casinos must have.
Many casinos are new to their license but don't have a good reputation yet, naturally they are still new to the gambling industry so they don't have a good reputation yet.
Regarding the old casino with a good reputation but don't have the license you are talking about, I know it, but for me the license is no less important to prioritize if you want to use the casino.

BVeyron

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Quote from: o48o on March 27, 2023, 02:12:58 PM

Quote from: Rating Place on October 14, 2022, 08:03:28 PM

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos.

That sounds like a conspiracy theory and only applies to scamming casinos. Real reason with legit casinos is that they are complying with AML laws. They are checking every account they are suspecting og faul play and are required by law to freeze their accounts and contact officials.

And if they want to handle fiat money in the future and be operational it would be foolish from them not to complain with AML laws, because why would they risk their existence and wouldn't do that?

License, as I understand, is more to do with law requirements, than with behavior of the licensed casino. Gambling is either banned or toughly restricted in most of the world, so it's really a trouble for such business owners to legalise the income from this, so that the little amount of places whose authorities are allowed to license casinos are in a huge favour of casino owners. So control functions of licensing authorities are a bit limited under such circumstances.

o48o

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Quote from: Rating Place on October 14, 2022, 08:03:28 PM

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos.

That sounds like a conspiracy theory and only applies to scamming casinos. Real reason with legit casinos is that they are complying with AML laws. They are checking every account they are suspecting og faul play and are required by law to freeze their accounts and contact officials.

And if they want to handle fiat money in the future and be operational it would be foolish from them not to complain with AML laws, because why would they risk their existence and wouldn't do that?

BVeyron

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Quote from: Mahdirakib on March 24, 2023, 01:22:38 PM

Quote from: Get-Paid.com on March 24, 2023, 08:38:53 AM

*have (plural)

Although it doesn't matter a lot, but I have fixed it Wink

Quote from: Get-Paid.com on March 24, 2023, 08:38:53 AM

BitKong has been operating for 7+ years, the fact it has no license makes it less trustable?!

The reputation of a casino is more worthy than the license of the casino. But the gamblers search for the license of a casino now when a new casino arrives in the gambling world. There are few more old casinos running with their reputation without having the gambling license (Bitvest, Bustabit, Bustadice). The license will only cost a few thousand dollars while their reputation is worth than hundred thousand dollars. BitKong is trustable than a new licensed casino which has no reputation.

There are many validators, and most of them are unable to guarantee trustworthy behavior of every company they give license to. License is more to do with legal status of earnings casino owners get from their business, in most countries all the gambling industry is banned, and its quite hard to stay within law regulations if someone has income from owning a gambling site. That's why license is not a guarantee for users...

Mahdirakib

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Quote from: Get-Paid.com on March 24, 2023, 08:38:53 AM

*have (plural)

Although it doesn't matter a lot, but I have fixed it Wink

Quote from: Get-Paid.com on March 24, 2023, 08:38:53 AM

BitKong has been operating for 7+ years, the fact it has no license makes it less trustable?!

The reputation of a casino is more worthy than the license of the casino. But the gamblers search for the license of a casino now when a new casino arrives in the gambling world. There are few more old casinos running with their reputation without having the gambling license (Bitvest, Bustabit, Bustadice). The license will only cost a few thousand dollars while their reputation is worth than hundred thousand dollars. BitKong is trustable than a new licensed casino which has no reputation.

Get-Paid.com

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Quote from: Mahdirakib on November 09, 2022, 01:00:28 PM

Edit: The details of Neodice and BitKong has* been added in the list.

*have (plural)
BitKong has been operating for 7+ years, the fact it has no license makes it less trustable?!

Mahdirakib

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Update: No new casino has been added in the list. I just rechecked the license details at each casino and made some corrections in the main post.
• The license validator link isn't available on Betcoin.ag now.
• Flush.com has changed their gambling license. The information has been updated in the main post.
• I have removed TwiceDice from the list as the website is password protected. I'm unable to access the casino.
• WinDice has a gambling license now, I have updated their license information in the main post.

Mahdirakib

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Update: I just added 3 more casinos details in the list. They are Betplay, Metaspins and Punt.
Neodice and BitKong is on my to-do list. I have some confusions about Neodice license, I will add them to the list when it will be fixed. And I'm waiting for the BitKong email support response. Although it looks like BitKong doesn't request for KYC verification, but I want to confirm it from their response.

Edit: The details of Neodice and BitKong have been added in the list.

worldofcoins

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Well, in my opinion, KYC should be mandatory for all casinos due to the reasons shared in your post and other reasons.
However, it increases the chances of credible players and helps prevent abuse, such as hacking or any unauthorized bluff playing and cheating.
Therefore, all casinos must implement KYC for the sake of the presentation of the casino's reputation and players.

Rating Place

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Quote from: LUCKMCFLY on October 15, 2022, 05:47:30 PM

Quote from: Rating Place on October 14, 2022, 08:03:28 PM

Quote from: Mahdirakib on September 29, 2022, 09:43:10 AM

Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.
I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

I couldn't find out the license information of 1Xbit on their website. But the casino review making site says that 1xbet and 1xbit casinos are operated by the same company. 1xbet claims that they are operated by 1XCorp N.V. company, but it isn't valid anymore. Because, 1XCorp N.V. was declared bankruptcy by Curacao operator on May 2022. You will see this information on Curaçao Commercial Register page of 1XCorp N.V. company. Currently 1xbet is operated under ACOM Latin America N.V. This company is registered under Curaçao eGaming.

Therefore, a scam casino may have gambling license. A license can't stop them to scam people. Only the awareness can save gamblers from the trap of these scam casinos.

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos. There are also tax advantages. Once again it depends on the country but in some the corp. pays zero taxes for money generated outside of the country but the can't accept wagers within the country.

Wow, I would have liked to know much more about international laws, because I have many doubts about licenses, I thought that a casino with licenses, apart from making it more authentic, presented more security to customers, so wherever the licenses are from, they should allow protection to users, it makes no sense then about licenses if there is no protection, really these things are very different, I know that international law has a lot to do with these issues, but I want to determine if at some point they can decide To give some advantages that are for customers, there should be at least one protection clause.

It's the same as setting up any offshore company. You need a nominee, business incorporated, bank account, a resident in the country or expat and some need a virtual office. The laws are different in each country but similar. Once again it depends on the country but some are tax havens. Money generated outside of the country isn't taxed. Wagering is banned for residents in the country. The only good thing about a license is to ensure a fair game. Otherwise, it's a money grab.

LUCKMCFLY

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Quote from: Rating Place on October 14, 2022, 08:03:28 PM

Quote from: Mahdirakib on September 29, 2022, 09:43:10 AM

Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.
I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

I couldn't find out the license information of 1Xbit on their website. But the casino review making site says that 1xbet and 1xbit casinos are operated by the same company. 1xbet claims that they are operated by 1XCorp N.V. company, but it isn't valid anymore. Because, 1XCorp N.V. was declared bankruptcy by Curacao operator on May 2022. You will see this information on Curaçao Commercial Register page of 1XCorp N.V. company. Currently 1xbet is operated under ACOM Latin America N.V. This company is registered under Curaçao eGaming.

Therefore, a scam casino may have gambling license. A license can't stop them to scam people. Only the awareness can save gamblers from the trap of these scam casinos.

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos.

Wow, I would have liked to know much more about international laws, because I have many doubts about licenses, I thought that a casino with licenses, apart from making it more authentic, presented more security to customers, so wherever the licenses are from, they should allow protection to users, it makes no sense then about licenses if there is no protection, really these things are very different, I know that international law has a lot to do with these issues, but I want to determine if at some point they can decide To give some advantages that are for customers, there should be at least one protection clause.

Saint-loup

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Quote from: Rating Place on October 14, 2022, 08:03:28 PM

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos.

I was about to ask if someone could share the terms of the Curacao licenses regarding the KYC policies because I don't understand why some large casinos like Sportsbet and Bitcasino don't require "proofs of funds" according to the table in the OP while other casinos are asking it despite having a Curacao license too.
But your reply is certainly the right answer actually, KYC requirements have nothing to do with licenses in reality, it's just an easy way for casinos to avoid paying winnings to their customers. I don't know what are the real statistics but I assume that more than a third of customers refuse to do it or are unable to comply with it. Another part takes certainly months to send the required documents and to get validated, so for casinos it's a pretty good deal in the short run.

Rating Place

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Quote from: Mahdirakib on September 29, 2022, 09:43:10 AM

Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.
I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

I couldn't find out the license information of 1Xbit on their website. But the casino review making site says that 1xbet and 1xbit casinos are operated by the same company. 1xbet claims that they are operated by 1XCorp N.V. company, but it isn't valid anymore. Because, 1XCorp N.V. was declared bankruptcy by Curacao operator on May 2022. You will see this information on Curaçao Commercial Register page of 1XCorp N.V. company. Currently 1xbet is operated under ACOM Latin America N.V. This company is registered under Curaçao eGaming.

Therefore, a scam casino may have gambling license. A license can't stop them to scam people. Only the awareness can save gamblers from the trap of these scam casinos.

Almost every casino here has a gaming license in Curacao or data processing license in Costa Rica. These licenses don't mean anything since anyone here without a criminal record can get a license in Curacao for under $20k USD within 6 weeks and less in Costa Rica.

The only reason the casinos ask for KYC is a way of not paying. In Curacao all the casinos work under a sub-license under one of the four master licenses. In the UK and US, licensing is strict. It's not that way for bitcoin casinos.

Saint-loup

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I didn't find Nitrobetting, the child of Nitrogensports, it's sad because it's one of the few reputable casinos not asking any KYC and personal information, and freely accepting users from all states of USA on top of that. They provide a sportsbook, casino games and multi-players poker tables. Besides that they are offering contests and tournaments on a regular basis. They deserve to be listed here IMO.

https://nitrobetting.eu/privacy-policy/

Hamphser

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Quote from: mindrust on September 29, 2022, 08:23:38 AM

Quote from: Botnake on September 26, 2022, 07:22:05 AM

Quote from: BitcoinHunt3r on September 25, 2022, 09:18:00 PM

Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.

I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

It shouldn't, if it is proven to run fraudulent practices then no license will dare to support it, in addition the Licensor is threatened with being sued
If you talk about 1xBit then you should read the case of 1xBet wikipedia similar name and similar case but I don't want to assume. I will avoid sites like this and also alert my community to avoid it.

They claimed to have a license, but with their reputation, the license is just useless if I would choose to gamble. There are plenty of sites I believe that have a license but with a bad reputation, maybe gamblers do not sue them but due to the evidence from the accusers, the community tagged them as a bad gambling sites.

Exactly. Having a license don't make a casino a honest one. In fact most scammy casinos have licenses from those Caribbean countries. (One of them was Curaçao?) The casino needs a gambling license only if they are accepting FIAT money from their customers. If they don't deal with FIAT, a casino license is completely worthless. Having a good reputation beats a gambling license by a lot and you can gain good reputation only by treating your customers fairly which 1xbit fails at doing.

Having a license wont really be an assurance for us to say that a site or platform to be legit yet we know that there are even licensed one turns out to be scammy which we had encountered already
into this market or forum itself.
Yes, we do even have casinos nowadays which doesnt have license but still able to make themselves sitting on the top of popular platforms
on which we could play comfortably and able to trust it up.
This do proves out that license isnt everything.

Mahdirakib

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Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.
I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

I couldn't find out the license information of 1Xbit on their website. But the casino review making site says that 1xbet and 1xbit casinos are operated by the same company. 1xbet claims that they are operated by 1XCorp N.V. company, but it isn't valid anymore. Because, 1XCorp N.V. was declared bankruptcy by Curacao operator on May 2022. You will see this information on Curaçao Commercial Register page of 1XCorp N.V. company. Currently 1xbet is operated under ACOM Latin America N.V. This company is registered under Curaçao eGaming.

Therefore, a scam casino may have gambling license. A license can't stop them to scam people. Only the awareness can save gamblers from the trap of these scam casinos.

Dunamisx

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Quote from: dezoel on September 29, 2022, 08:18:32 AM

Scam sites intend to not get a license because number 1 is (like you said) no license company are going to allow them. Number 2 is their license will still be removed if found out that they turned into a scam (if ever they started as a legit one) and not only that but they can also be arrested. Number 3 is they can attract players to play on them because many players likes a casino without a KYC.

Things are actually not balanced if we take a look into the whole case, from the casinos side you will discover that truly we have some scam gambling site that could not be allowed to participate in any legal form of endorsement, also from the gambler's end you discover many ways they have been trying to attack the gambling sites by all means, so therefore scam exist both from the casino and the gamblers, same applies if you're in search for a reputed one whereby with time you will discover one that best suit your taste, that's why scammers are much attracted to the scamming casinos and if you're not a scammer then you will definitely be far away from any even though they are drawing close to you, you will discern well.

Quote from: Botnake on September 26, 2022, 07:22:05 AM

They claimed to have a license, but with their reputation, the license is just useless if I would choose to gamble. There are plenty of sites I believe that have a license but with a bad reputation, maybe gamblers do not sue them but due to the evidence from the accusers, the community tagged them as a bad gambling sites.

An average gambler should atleast go for both reputation and functionality of a gambling site, one interesting idea about searching is that it may only take you some time but you will actually got attracted to the type which you're on a look for, if a gambling site is found operating under misconduct, all you need is to avoid such, you may not have the time, money and resources needed to sue such.

mindrust

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Quote from: Botnake on September 26, 2022, 07:22:05 AM

Quote from: BitcoinHunt3r on September 25, 2022, 09:18:00 PM

Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.

I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

It shouldn't, if it is proven to run fraudulent practices then no license will dare to support it, in addition the Licensor is threatened with being sued
If you talk about 1xBit then you should read the case of 1xBet wikipedia similar name and similar case but I don't want to assume. I will avoid sites like this and also alert my community to avoid it.

They claimed to have a license, but with their reputation, the license is just useless if I would choose to gamble. There are plenty of sites I believe that have a license but with a bad reputation, maybe gamblers do not sue them but due to the evidence from the accusers, the community tagged them as a bad gambling sites.

Exactly. Having a license don't make a casino a honest one. In fact most scammy casinos have licenses from those Caribbean countries. (One of them was Curaçao?) The casino needs a gambling license only if they are accepting FIAT money from their customers. If they don't deal with FIAT, a casino license is completely worthless. Having a good reputation beats a gambling license by a lot and you can gain good reputation only by treating your customers fairly which 1xbit fails at doing.

dezoel

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Quote from: BitcoinHunt3r on September 25, 2022, 09:18:00 PM

Quote from: Don Pedro Dinero on September 22, 2022, 10:25:51 PM

I'm curious if 1Xbit or similar scam sites have a license from somewhere.

I don't see 1xBit on the list and I guess it's because it's a known scam site, but I wouldn't rule out that certain scam sites are able to get a license from somewhere to keep up appearances. Or it is common to scam sites not to have a licence?

It shouldn't, if it is proven to run fraudulent practices then no license will dare to support it, in addition the Licensor is threatened with being sued
If you talk about 1xBit then you should read the case of 1xBet wikipedia similar name and similar case but I don't want to assume. I will avoid sites like this and also alert my community to avoid it.

I did an internet search about it and some gambling review sites claim that they have a license under curacao but when I check the 1xbit site and scroll at the very bottom, I didn't see a word license or curacao there. We know that some gambling sites are lying and put a good rating about 1xbit so maybe they are also lying when they say that 1xbit has a license.

Scam sites intend to not get a license because number 1 is (like you said) no license company are going to allow them. Number 2 is their license will still be removed if found out that they turned into a scam (if ever they started as a legit one) and not only that but they can also be arrested. Number 3 is they can attract players to play on them because many players likes a casino without a KYC.

Topic: Information of Crypto Casinos License and KYC requirements - page 7. (Read 5143 times)