Topic: Is Stake.com allowed to lock account with $6,000 untill I lose it all? (Read 562 times)

Not long ago I recommended my friend to play on Stake and all the KYC processes didn't take long, maybe OP didn't really follow the KYC process correctly so he had problems and time to process it, but actually if OP understands that Stake is a site that has good reputation on this forum, he wouldn't do the reckless thing of gambling again and suffer a loss.

All problems will definitely be processed transparently because it's impossible for Stake to bring $ 6k to cheat him, meanwhile big sites and even big bets are always visible there especially withdrawals greater than $ 6 are also processed properly as long as they are not defective and follow the procedure everything will be fine just. i think also OP has left this thread it seems.

This was approximately a year ago, and I would like to share a recap of what occurred.

In late June of last year, I had a fortunate sports betting experience and won around $6,000 in LTC (120 LTC). Following my win, I promptly requested a withdrawal, but unfortunately, it was denied. This surprised me since Stake is typically known for their quick withdrawal times. To understand the situation, I reached out to their support team for an update.

Upon inquiring about the denial, I was informed that this was a routine check and they requested me to undergo KYC verification up to level 4. Level 4 is the highest level of KYC, which involves providing a picture of my Passport/ID, a personal banknote to demonstrate proof of funds, and a bill to verify my residency. Initially, I found this request rather unusual and tried to obtain a valid reason as to why I was being singled out for verification when I simply wanted to withdraw my winnings. However, the support team was unhelpful, claiming they didn't know the reason or attempting to avoid the question by insisting on KYC verification.

After submitting the required documents, I received a notification stating that the documents I had provided were insufficient. They cited poor image quality, unclear details, and sometimes even failed to provide a reason, leading me to believe they were deliberately prolonging the withdrawal process.

Interestingly, despite the withdrawal issues, I discovered that I was still able to place bets on the platform. Unfortunately, like any other addict, I continued gambling until I lost all my winnings within four days. I attributed this to sheer bad luck, convincing myself that it was solely responsible for my losses.

However, I later spoke to a friend who underwent the same KYC procedure and learned that his verification process took less than a day, enabling him to withdraw his funds instantly.

Curiosity led me back to stake.com to review my betting history and investigate what had truly transpired. To my surprise, the tickets had disappeared, and when I questioned the support team about this, they attributed it to a platform issue, stating that neither party could access the tickets and that nothing could be done about it (refer to the images below).

1st image: [https://ibb.co/nmxBBG8]
2nd image: [https://ibb.co/1qSqgS2]

I don't wish to dwell on this matter any longer, but I would appreciate hearing your thoughts. Personally, I feel that this is a highly questionable practice, allowing users to continue gambling while demanding verification for withdrawals, and then conveniently erasing the tickets and evidence. It appears to be nothing short of shady and potentially predatory to me.

If a friend of the OP who also verified did succeeded in less than one day it was because he really provided all the data properly without any flaws.
Stake.com is a reputable casino so it is impossible if there is a problem or case that they don't solve because customer service is highly prioritized by Stake.com.

Upon inquiring about the denial, I was informed that this was a routine check and they requested me to undergo KYC verification up to level 4. Level 4 is the highest level of KYC, which involves providing a picture of my Passport/ID, a personal banknote to demonstrate proof of funds, and a bill to verify my residency. Initially, I found this request rather unusual and tried to obtain a valid reason as to why I was being singled out for verification when I simply wanted to withdraw my winnings. However, the support team was unhelpful, claiming they didn't know the reason or attempting to avoid the question by insisting on KYC verification.

Wrong. Casinos(FIAT and Crypto) do this kind of stuff all the time in order to try and avoid paying out since they are businesses trying to survive at the end of the day using whatever means possible(Ethical or Unethical).

They deserve to be questioned whenever shady stuff like this happens though the op seems shady too in this case.

Dude... This is so wrongfully assumed.
I dunno why most peeps assume KYCs to be a process where casinos use to drift away from allowing huge withdrawals, or maybe paying legal winnings... But in most cases, that's not entirely true..
I believe - just as very many recorded cases has been outrightly confirmed - that most of this sanctions placed on casino users are due to Thier trespassing or refusal to adhere to serveral operative measure...; For whatever reasons the casinos kept those measures should remain totally unquestionable.

This is unbelievable and I don't still understand why stake that we all know to be a reputable casino would have to stress your case so that you will not be able to withdraw your fund since to applied for it.  Very unfortunate how you lose all your profits within 4 days and one thing I so much appreciated from You is how you made use of your sentences. It was never derogate at all and simple with all experience explained without using a swear words. I hope the team will look into this and resolve this even though it might have been a long time before now.

This is unbelievable and I don't still understand why stake that we all know to be a reputable casino would have to stress your case so that you will not be able to withdraw your fund since to applied for it.  Very unfortunate how you lose all your profits within 4 days and one thing I so much appreciated from You is how you made use of your sentences. It was never derogate at all and simple with all experience explained without using a swear words. I hope the team will look into this and resolve this even though it might have been a long time before now.

It is indeed unfair to the players to be subject to endless KYC processes and this mostly happens when the customer wants to either withdraw or deposit an amount higher than $5,000 gamble should be aware of that risk and try to make their transactions below that amount.

Even crypto exchange where I trade, (all of them that ive used), still allow customers to trade, buy, sell, coins while the customer is suspended from withdrawing due to one issue or the other, this is something I have personally experienced myself on not just one or two exchanges but on as many of them I've used and had minor to serious withdrawal issues.
So I do not see this practice as evil in any way, you simply was the one who decided to keep gambling amid your withdrawal issues, and unfortunately lost all your winnings.. So trying to now turn back and blame the casino for the result of your own decisions is rather not fair..

When the Casino asked you to pass kyc verification before you can withdraw, if you know you aren't ready to lose any part of that money, you should have abstained from gambling at that time and pursue the kyc verification till the end.

I've read many stories of this being done.

A gambler is not asked to do KYC for months, but when he decides to withdraw a large sum all at once he gets locked and asked for documents. Then the casino takes a long time to process it saying stupid things that they need documents to be in English because they can't read this or that language, or that they need the document to be not older than 1 month, although player's account is much older than that. Then they don't want to get digital versions of documents, including that proof of funds, that has to be in a written and stamped form, in English

They do it all to delay things as long as they can, hoping the client will give up and leave them the money, or starts gambling again and loses everything.

OP, you should have asked us earlier. It's better to wait and document every conversation with the support. If you're sending them everything and they are still delaying withdrawal, you're being scammed, but if you gamble and lose everything before your account is unlocked it's your fault. 

You are way too naive. Do you really think that's the only reason why casinos do this sort of stuff? It's not that simple. They use these tactics to make the player use up his/her funds in order to avoid paying them later.

This particular tactic works quite often since many gamblers are impatient leading to them gambling away their funds and getting screwed in the process.

Are you an active gambler with the stake if yes you will not face this kind of trouble on your part, but if no, and just recently created an account and make a deposit and then win a large profit seeking a withdrawal immediately for sure they will tag your account for a freeze status, we cannot deny this always happen, each gambling casino have a minimum wage after they deposit just read the terms and conditions too so if you made a deposit and win why not to play those funds you've been use at least a 1k usd, also if you submitted the KYC to them sure they will immediately take an action. @OP if you fix the problem you can now lock the thread in the lower left of the whole thread.

It's been more than a month since the OP started this discussion, and he hasn't engaged in the forum since then. Is it really necessary to resurrect a thread like this that has already concluded its course? There might not be much reason to bring it back up.

<...>

^Exactly this

Get your KYC done beforehand. Otherwise you might find yourself in a tangled web of unjustified bureaucratic nonsense. The reason being quite simple: Even though most people mistake a complicated KYC process with malice from the side of the casino owners, the truth is that a long KYC process is because you tripped a lot of red flags like using a VPN, using a bot or just because you broke a rule from the terms and conditions. People really underestimate the terms and conditions and would rather not read through them because they can be quite long. But that laziness always has a price in the end.



 

This was approximately a year ago, and I would like to share a recap of what occurred.

In late June of last year, I had a fortunate sports betting experience and won around $6,000 in LTC (120 LTC). Following my win, I promptly requested a withdrawal, but unfortunately, it was denied. This surprised me since Stake is typically known for their quick withdrawal times. To understand the situation, I reached out to their support team for an update.

Interestingly, despite the withdrawal issues, I discovered that I was still able to place bets on the platform. Unfortunately, like any other addict, I continued gambling until I lost all my winnings within four days. I attributed this to sheer bad luck, convincing myself that it was solely responsible for my losses.

However, I later spoke to a friend who underwent the same KYC procedure and learned that his verification process took less than a day, enabling him to withdraw his funds instantly.

Curiosity led me back to stake.com to review my betting history and investigate what had truly transpired. To my surprise, the tickets had disappeared, and when I questioned the support team about this, they attributed it to a platform issue, stating that neither party could access the tickets and that nothing could be done about it (refer to the images below).

1st image: [https://ibb.co/nmxBBG8]
2nd image: [https://ibb.co/1qSqgS2]