Topic: KYC procedure in online casinos does more good than bad or the other way around? - page 10. (Read 2151 times)
April 30, 2019, 04:56:44 PM
I don't actually see any benefits of customers going thru KYC procedure in gambling aside from compliance with the law. It is risky to disclose personal data just to gamble. I know a lot of online-gamblers here are against it because of security reasons and also because of the inconvenience of the procedure. Online-gamblers wants to remain anonymous while gambling for security purposes.
April 30, 2019, 03:58:26 PM
I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.
Yes, once I see any casino site that requests for KYC, I just quit. I don’t see any reason why they should be asking for that, it is absolutely not necessary. Every gambler wants to be anonymous, and there are some of us whose culture and laws do not permit to gamble, but because of the love for gambling, we can just log into a casino site and play
Asking for KYC forfeits this, and it’s totally wrong. Let’s call a spade a spade, KYC is not for gambling and whoever that introduced it to some casino sites didn’t do well at all.
April 30, 2019, 03:39:47 PM
I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.
I never had any issue with submitting KYC during bounty. I did that a lot of times also and I saw reasons why it was necessary but I don’t think it should be the same with gambling. The site I have been gambling on do not ask for KYC and I will be truly disappointed if they ever do, because it is totally of no use. There was a time I gambled on a site and made huge money and at the time of withdrawal, it started asking for my KYC, I just abandoned the money I made and the site and ever since then placed that site on my scam site list. It might not be scam, but I felt cheated because I felt they should have informed me earlier.
KYC procedure would only be good on fiat casinos but since we are on crypto then i dont think this thing would really be appropriate to be applied on here and come to think thats why crypto gambling is getting bigger
due to anonymity.
April 30, 2019, 02:19:17 PM
I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.
I never had any issue with submitting KYC during bounty. I did that a lot of times also and I saw reasons why it was necessary but I don’t think it should be the same with gambling. The site I have been gambling on do not ask for KYC and I will be truly disappointed if they ever do, because it is totally of no use. There was a time I gambled on a site and made huge money and at the time of withdrawal, it started asking for my KYC, I just abandoned the money I made and the site and ever since then placed that site on my scam site list. It might not be scam, but I felt cheated because I felt they should have informed me earlier.
April 30, 2019, 01:09:09 PM
If you ask me no KYC for crypto betting sites / casinos needed. Crypto is made to be anonymous and until now i used sites that had no KYC (still using them), so i guess most of them don't request it.
There are still sites that don’t require KYC, in short the number of casino sites that do not request is actually more than the ones that do. I think the sites that demand for KYC would have reasons to do so, but I feel no reason is valid enough to want to intrude into a gamer are privacy. This is a gambling site for crying out loud, and we all know that no gamer is proud of gambling and we all like to keep our information’s safe. So why the hell will a casino site asks for KYC? Well I already have my site that I play on and do not request for KYC, the moment they introduce it, I bet am out
April 29, 2019, 10:10:52 AM
If you ask me no KYC for crypto betting sites / casinos needed. Crypto is made to be anonymous and until now i used sites that had no KYC (still using them), so i guess most of them don't request it.
April 29, 2019, 07:59:15 AM
I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.
April 29, 2019, 01:59:40 AM
They think first what is the purposes of KYC and what the reason for them to get our personal information we are players and maybe our money our lost. The KYC created because of the cheaters of joining multiple account in same bounty campaign. I did not play for the gambling site who implementing KYC because I have rights to secure my information because I play with my money not their money.
April 29, 2019, 12:45:26 AM
With what I have see and experienced so far KYC was implemented by the online casino owners just like how crypto currency exchange site does (I mean they set some limit of withdraw which KYC will be ask from customers) in other to prevent their business cause no one will pray for his business to collapse and gambler need to do is always play on a trustable site which your personal information will be secure because KYC will be ask when huge fund is involve.
Yeah the reason for implementing KYC is actually genuine and there are many reputable casino site that request for it but personally I would not play on any site that requests for KYC, I chose online gambling because of privacy and my mind would not be at rest knowing that I have my information submitted on a casino site,no matter how safe they promise to keep it. There will still be doubts.It's more for the safety of the casinos than it's customers i think. Of course these businesses would prioritize their security and having personal information about their customers would make it easier to run after people who use their platform for money laundering, scams and cheating. And though i also can make it secure for players and users, i personally won't be at ease giving out my information just to gamble. I can understand that it may be necessary for trading sites but for online casinos, nah i'd pass.
April 26, 2019, 05:22:22 AM
Thanks for all your responses and insights.
I used those to create an article summarizing why crypto players skip casinos with KYC.
Here's it's bitcointalk thread: https://bitcointalk.org/index.php?topic=5136360.new#new
I used those to create an article summarizing why crypto players skip casinos with KYC.
Here's it's bitcointalk thread: https://bitcointalk.org/index.php?topic=5136360.new#new
March 21, 2019, 01:45:06 PM
With what I have see and experienced so far KYC was implemented by the online casino owners just like how crypto currency exchange site does (I mean they set some limit of withdraw which KYC will be ask from customers) in other to prevent their business cause no one will pray for his business to collapse and gambler need to do is always play on a trustable site which your personal information will be secure because KYC will be ask when huge fund is involve.
Yeah the reason for implementing KYC is actually genuine and there are many reputable casino site that request for it but personally I would not play on any site that requests for KYC, I chose online gambling because of privacy and my mind would not be at rest knowing that I have my information submitted on a casino site,no matter how safe they promise to keep it. There will still be doubts. 
March 20, 2019, 02:32:05 AM
I don't see why people should need to KYC in crypto gambling casinos, one of the key advantages of gambling with crypto is gambling in an anonymous way.
In Fiat casinos they require the KYC in order to verify you are actually who you say you are but in the crypto zone that is not needed. Your crypto address says who you are as you are supposed to also have the private key to this address.
In Fiat casinos they require the KYC in order to verify you are actually who you say you are but in the crypto zone that is not needed. Your crypto address says who you are as you are supposed to also have the private key to this address.
March 20, 2019, 02:19:48 AM
I've read a lot of replies in some casino-related threads talking about how they hate KYC procedures. I get it they don't want all the hassle if giving personal info during registration, that they don't want complicated processes, esp. when withdrawing, and that they are afraid the casinos will exploit their players' details who provided their personal info. But perhaps some people think about KYC positively — like KYC reduces the risk of money laundering and protects the casinos from fraudulent players?
I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
I am seeing this as a good improvement for the gambling because the KYC are always been helpful for most security process so it could not be refused in the future so it will be improved today as a Development will helpful for the people to understand the future otherwise it will be very difficult for everyone. I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
March 19, 2019, 11:31:51 PM
Gambling is one activity to have fun, why we need to fill KYC just to get fun of that? Maybe KYC can be applied for gamblers who use more than $100k to play, but I am sure that there are a lot of people who play in less than $100k and they only want to play any gambling games and want to have fun with the game.
But for crypto gambling games which is we could play as anonymous, I don't think the gamblers want to fill KYC but as I said before it could be applied for gamblers who use more than 1000 btc because it will look suspicious if someone uses 1000 btc to gamble or he is very addicted to gambling.
But for crypto gambling games which is we could play as anonymous, I don't think the gamblers want to fill KYC but as I said before it could be applied for gamblers who use more than 1000 btc because it will look suspicious if someone uses 1000 btc to gamble or he is very addicted to gambling.
I agree with you, i usually playing in online casino because its anonymous. I hate when i want to withdraw then some casino ask my ID. I want stay anonymous in online casino.
More than a year ago i just have 0.2 btc balance winning from little amount of my deposit when i want to withdraw they ask me KYC, i just cancel my withdrawal request and play with that amount until bust all money and never back to that casino.
Maybe KYC can be applied to other websites, but for gambling sites especially on the internet, KYC is not necessary because we want to be free to withdraw or save or just register on their site.
People now want to play gambling anonymously, and they don't want to reveal their ID just to play gambling. They want to remain hidden in their place without giving their personal ID. Besides that, I heard about selling customer IDs that made me worry if I gave my personal documents to several websites.
I think it makes sense why people still avoid websites that use KYC to complete withdrawals or become full members because they are aware of misuse of identity by irresponsible people.
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March 18, 2019, 06:59:10 AM
I've read a lot of replies in some casino-related threads talking about how they hate KYC procedures. I get it they don't want all the hassle if giving personal info during registration, that they don't want complicated processes, esp. when withdrawing, and that they are afraid the casinos will exploit their players' details who provided their personal info. But perhaps some people think about KYC positively — like KYC reduces the risk of money laundering and protects the casinos from fraudulent players?
I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
KYC is not bad if the online casino is legit and has a high trust rate. It will only mean they want some securities from themselves and their customer. Its just normal and you can give them yours if you want. Then maybe theres this fraud gambling sites which exploits peoples information thats why they have negative reviews about it
March 18, 2019, 04:57:13 AM
I think kyc doesn't give any advantage to the users, and I don't agree to play in any casino site that require kyc procedure, it's very dangerous to give personal detail on the site, no matter how protective or legit the casino, when something happen they won't be able to responsible, kyc only give advantage for the casino owner so the player can't cheat the system and they can blacklist or ban the unwanted player
March 18, 2019, 02:24:20 AM
Right now most casino's don't do any form of KYC however that can quickly change in the near future. It will be no different than most exchanges which a few years back were "no kyc" and now most exchanges require KYC.
This is mostly due to regulation and its needed if Crypto is to have a future. Basically crypto gambling will be no different.
The only sites that did perform KYC was usually due to some tainted coins being depositted into the casino, made 1 bet and attempted withdraw. This is why many casinos perform manual withdraws for new registerants in case they trace the BTC as being stolen.
This is mostly due to regulation and its needed if Crypto is to have a future. Basically crypto gambling will be no different.
The only sites that did perform KYC was usually due to some tainted coins being depositted into the casino, made 1 bet and attempted withdraw. This is why many casinos perform manual withdraws for new registerants in case they trace the BTC as being stolen.
March 18, 2019, 12:38:36 AM
I've read a lot of replies in some casino-related threads talking about how they hate KYC procedures. I get it they don't want all the hassle if giving personal info during registration, that they don't want complicated processes, esp. when withdrawing, and that they are afraid the casinos will exploit their players' details who provided their personal info. But perhaps some people think about KYC positively — like KYC reduces the risk of money laundering and protects the casinos from fraudulent players?
I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.
KYC is not bad if the online casino is legit and has a high trust rate. It will only mean they want some securities from themselves and their customer. Its just normal and you can give them yours if you want. Then maybe theres this fraud gambling sites which exploits peoples information thats why they have negative reviews about it
March 17, 2019, 11:29:39 PM
It's all good from the government's and casino's point of view IMHO. Government can say they're doing something against money laundering and they know how much players are earning and casinos would be less liable to being sued in case any player has committed fraud (for example using stolen credit cards).
I think the only benefit the players have is casino might be less likely to go under or be forced to shut down.
I think the only benefit the players have is casino might be less likely to go under or be forced to shut down.
March 17, 2019, 10:43:33 PM
So you're not afraid of giving away your data to companies as long as they are big?
Well, big and legal corporations in stable countries (like the US and Europe) to be precise.It will only be more convenient for you to find and sue them but your data will be lost anyway.
At least, someone would be held accountable for this incident.KYC always sucks.
I fully agree with this statement, however in my opinion risks of embezzlement far outweigh risks of losing data. Without obeying (KYC/AML) regulations, casinos cannot be "trusted," thus there would be no consumer protection.That's why I have a high hope for decentralized gambling to revolutionize traditional/centralized gambling industry... *sounds like vaporware ICOs
Centralized sucks
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