KYC procedure in online casinos does more good than bad or the other way around? - page 4.

sunsilk

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Quote from: Vishnu.Reang on June 19, 2019, 09:02:51 AM

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

That can be one main purpose of KYC but I think there's more about it and I believe it's more of compliance of the local law that they have been required to do so.

There would be disadvantage for both end, users and the casino and mostly, we don't really want to pass on KYC because we value much our identities and a black market for IDs is also there where they can sell their customers identities. But if you trust the casino you gamble and it's okay for you to pass KYC it's up to you.

joshy23

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Quote from: Vishnu.Reang on June 19, 2019, 09:02:51 AM

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

Just and excuse or additional reason but the main one still according to the enforce laws that catering where the site are being registered, they are in need
of providing information as taxes will be needed to be implement, the business can be harmed by the government rules if they will not provide information to such big winners.

expless

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Quote from: Sithara007 on June 17, 2019, 11:25:10 AM

If the main intention is to prevent under-age players from participating in gambling, then I would say that KYC will be having hardly any impact. I have seen kids as young as 12 years using the Tor browser in my city. Don't you think that they will be tempted to use illegal gambling sites (where KYC is not required) in case the legal ones ask for KYC?

Kids like that are the main reason why it has become a thing of necessity for all sites to have KYC regulation. Don’t worry, its just a matter of time and I believe it would become mandatory for all genuine site and every gambler would have no choice than to adapt too this and for those who still find it difficult, they might be left between the option of either obeying or going to play on scam sites while they stand the risk of losing their money.

For those minors, by the time there is 100% compliance of all sites asking for KYC before license, they would have to wait till they are of gambling age or otherwise go to play on scam sites and lose all their money.

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Quote from: suzanne5223 on June 19, 2019, 05:07:35 PM

Quote from: Vishnu.Reang on June 19, 2019, 09:02:51 AM

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

You're right and wrong because the cases of KYC don't only occur when the authorities are trying to give an excuse because we both know that some people did abuse the decentralization system of crypto currency but the issues of KYC usually happen in gambling when the player wins a huge fund so the company decide to ask for the KYC in case of any future problem may arise and they have to protect their business.

You got some point but actually if the said gambling site do forseen such possible problem ahead in the future then why not just

simply ban out those countries that do have strict rules or laws regarding online or offline gambling?If they dont like possible problems
then banning it out would be their best choice.

suzanne5223

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Quote from: Vishnu.Reang on June 19, 2019, 09:02:51 AM

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

You're right and wrong because the cases of KYC don't only occur when the authorities are trying to give an excuse because we both know that some people did abuse the decentralization system of crypto currency but the issues of KYC usually happen in gambling when the player wins a huge fund so the company decide to ask for the KYC in case of any future problem may arise and they have to protect their business.

Vishnu.Reang

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The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

sana54210

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Quote from: RealMalatesta on June 17, 2019, 02:51:15 AM

Quote from: guoyu78 on June 12, 2019, 08:46:21 AM

Quote from: rachman mahesa on June 10, 2019, 06:35:07 AM

KYC procedure in playing gambling seems like a lot of people don't like it, including me personally. Because according to many KYC people it is certainly very disturbing to do it just want to play gambling. So if there are gambling sites that have to do kyc in order to play, of course I will never play there.

I think people are really not getting the whole concept of KC and every policy they want to draft after creating a company, they want to include KYC in it which they implement without thinking deeply if such requirement is necessary or not.

The main reason for KYC is guide against the use of fund illegally and also to guide against money laundering, in the case of gambling, I don’t think there can be any case of such, and even if they have to know brief details about their clients, I think the little registration form is more than enough for such.

I am sure very soon, the way people are beginning to really discourage KYC, many company including gambling sites will eventually stop implementing it.

I think you forgot to add another reason which is to prevent minors and this is the aspect most gambler and I think this is the real cause for considerable consternation for most gamblers. KYC isn’t really the challenge and I am very sure the reason gamblers suddenly disappear or raise eyebrows when its time to fill this is because most online gamblers are not of gambling age.

I know a lot of friend who are underage and not qualified by law to gamble but because of anonymity, they now gamble freely and this KYC regulation would never work in their favor, so you see why they would continue to fight it even though its for a good cause?

You have a good point and it’s true that some gamblers are against the implementation of KYC because of their age but don’t forget that the number of qualified gamblers who are going against this KYC implementation is quite higher that the minors you talked about and what this implies is that generally, gamblers are just against KYC for very good reason.

I think one of the most basic reason for this remains that they have the mindset generally that their information submitted on gambling sites, stands a chance of being ex[posed if the site ever gets hacked which is very possible.

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Quote from: Duzter on June 18, 2019, 03:26:27 AM

There is no need of fulfilling the KYC to play on casinos, but to stay away from issues on withdrawal and deposit KYC procedure fulfillment is a must. Not all gambling websites request to fulfill KYC while majority of the services that keeps on regulating the KYC fulfillment is the exchanges as more ad more regulation is happening with the cryptocurrency related services.

They have such reason for this, you have no choice but to fulfill what they are asking for the KYC or else your money will be stuck on them for a long time if you don't want to follow what they say about KYC.
The solution for this, choose those casinos that doesn't really require this or ask majority of the people in the community regarding their experience specifically about those casinos that requires it.

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Quote from: Ryker1 on June 18, 2019, 02:27:35 AM

Quote from: shoreno on June 18, 2019, 02:08:57 AM

same here . i dont also gamble on site that requires a kyc/aml because the main reason why i use crypto is because of anonimity . i dont want to publicitize my identity not even on a gambling site that requires registration and i also hide my ip address but like you , im not totally against kyc's . i like the agenda of kyc .

Indeed, you were right. I also don't want gambling site that having KYC, feels like I don't want to expose my personal data on the gambling industry. People now are always hesitated to pass KYC due to recently a lot of projects are almost scam, so as much as we have to avoid that KYC we will do. Well, for me it is a bad idea that the gambling industry will implement KYC because gambling is not an investment just like ICOs.

There is no need of fulfilling the KYC to play on casinos, but to stay away from issues on withdrawal and deposit KYC procedure fulfillment is a must. Not all gambling websites request to fulfill KYC while majority of the services that keeps on regulating the KYC fulfillment is the exchanges as more ad more regulation is happening with the cryptocurrency related services.

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Quote from: shoreno on June 18, 2019, 02:08:57 AM

same here . i dont also gamble on site that requires a kyc/aml because the main reason why i use crypto is because of anonimity . i dont want to publicitize my identity not even on a gambling site that requires registration and i also hide my ip address but like you , im not totally against kyc's . i like the agenda of kyc .

Indeed, you were right. I also don't want gambling site that having KYC, feels like I don't want to expose my personal data on the gambling industry. People now are always hesitated to pass KYC due to recently a lot of projects are almost scam, so as much as we have to avoid that KYC we will do. Well, for me it is a bad idea that the gambling industry will implement KYC because gambling is not an investment just like ICOs.

fullhdpixel

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Quote from: sana54210 on June 13, 2019, 05:47:03 AM

Quote from: leowonderful on June 10, 2019, 08:33:06 PM

Quote from: Hypnosis00 on June 10, 2019, 07:05:56 PM

KYC is a confidential documents and we don't want it to give without a concrete reason cause we know the possibility if mishandled.
At this time, it looks like KYC is required and almost all exchanges and gambling sites asking for it to validate our registration most specifically with the withdrawal. If that so, we have no choice but to submit it otherwise, you left your money inside.

You can always do a quick search about the site you plan on gambling on and whether or not the site requires KYC at any stage of using the site through a search engine like Google. I typically do this before playing on somewhat newer casinos that I have my eyes on, and it's been working pretty well recently considering people are usually quick to point out any crypto site requiring KYC. That way, you'll (hopefully) never need to submit KYC on a gambling site again.

And I still haven’t seen a good reason why gambler fear to fill an ordinary KYC form that much, I do that often and I have no fears since I know that I have a clear conscience and I have no worries if my private information on a site would ever backfire at me, that’s just my opinion and if we are concerned about the security of the site, then it would also be the same with the money we have in our bank accounts because nothing is ever 100% safe but some risks are just worth taking.

I think since the reason for KYC is mainly to check the activities of laundered money, especially in crypto gambling, it is expected for all gamblers to offer maximum cooperation to make this a success because at the end it is not only beneficial to the casino sites alone but also to the gambler.

You call those vital information they do ask in their KYC ordinary? You see reason why many people shy away from this KYC is not because most of them have skeleton in their cupboard or they are just trying to reject it for no reason, if the KYC was requested by government site, you will see that many people will have no single challenge with it, but we have lots of bad people in this crypto industry that would use one’s information for something that his different from the main purpose for which genuine company do request KYC for. Moreover, I really do not see much reason for any gambling site to request for KYC.

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Quote from: davinchi on June 18, 2019, 01:34:34 AM

I THINK YOU AND I SHOULD KNOW BY NOW THAT THERE ARE NO TRUSTED casino sites, they might be fair in dealings but never to be trusted and moreover, casino sites are always vulnerable to hacking, so what happens when the site is hacked and the kept information leaked? To me, this is even my major and only fear.

hacking is considered as an accident just like accidents on the road ( e.g car crash ) or accidents that can occur in real life ( e.g loss of ones stuffs ) so hacking is not a gambling sites fault but some says that there are hacking that are intended or should i say inside job on other words but i believe that that can rarely occur and if it occurs , i think it only happen on unreputable gambling sites .

Quote from: davinchi on June 18, 2019, 01:34:34 AM

I have nothing against KYC agenda but as long as gambling is being played online and with involvement of crypto gambling, it will ways be difficult to convince gamblers on KYC because what crypto stands for is anonymity and tis shouldn’t be compromised, I will never see myself gambling on a kyc regulated site.

same here . i dont also gamble on site that requires a kyc/aml because the main reason why i use crypto is because of anonimity . i dont want to publicitize my identity not even on a gambling site that requires registration and i also hide my ip address but like you , im not totally against kyc's . i like the agenda of kyc .

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Quote from: ruthwithers1980 on June 17, 2019, 09:25:53 PM

Quote from: boyptc on June 17, 2019, 02:03:16 PM

Quote from: Sithara007 on June 17, 2019, 11:25:10 AM

If the main intention is to prevent under-age players from participating in gambling, then I would say that KYC will be having hardly any impact. I have seen kids as young as 12 years using the Tor browser in my city. Don't you think that they will be tempted to use illegal gambling sites (where KYC is not required) in case the legal ones ask for KYC?

Who knows if these kids are really into that?

The minds of these kids today are hard to predict, they are up to something new although they are aware that it might harm themselves. There are legit sites that does not require KYC too.

When you say legit, do you mean legal? Or licensed? Please cite those "legit sites."

Yes, combination of that.

Not a scam, has a license, has a trusted people that runs the casino.

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Quote from: maydna on June 10, 2019, 09:30:10 PM

Quote from: AmoreJaz on June 10, 2019, 06:26:32 PM

Quote from: jvdp on June 10, 2019, 04:15:17 PM

Not only gambling , all the crypto platform businesses are looking for the non KYC option go get involved. We are not at all safe because of thatt pulling stealers and hackers.
We need to choose the good gambling without kyc. There are plenty of good site without kyc verification then why we need to choose others.

thats right, kyc can be seen in other crypto platforms other than gambling sites. i guess accomplishing kyc depends entirely on the player.
no one is forcing him to send his personal docs so one cant blame any site if something goes wrong along the way
make sure that once you fulfil the requirements, you know the risks involved. pretty simple...

If the site can be trustable, we are no problem to send any document to them. Right now, there is hard to search the trustable site because we see many new sites which says that they can protect the customer data. We need to know how good they are so we don't have to worry about sending the document to them. As long as we can search and get good reviews from the site, we can send the documents to them. Yes, we need to know the risk by sending those documents because once the documents are on the internet, we will become vulnerable to be the victims.

I THINK YOU AND I SHOULD KNOW BY NOW THAT THERE ARE NO TRUSTED casino sites, they might be fair in dealings but never to be trusted and moreover, casino sites are always vulnerable to hacking, so what happens when the site is hacked and the kept information leaked? To me, this is even my major and only fear.

I have nothing against KYC agenda but as long as gambling is being played online and with involvement of crypto gambling, it will ways be difficult to convince gamblers on KYC because what crypto stands for is anonymity and tis shouldn’t be compromised, I will never see myself gambling on a kyc regulated site.

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Quote from: boyptc on June 17, 2019, 02:03:16 PM

Quote from: Sithara007 on June 17, 2019, 11:25:10 AM

If the main intention is to prevent under-age players from participating in gambling, then I would say that KYC will be having hardly any impact. I have seen kids as young as 12 years using the Tor browser in my city. Don't you think that they will be tempted to use illegal gambling sites (where KYC is not required) in case the legal ones ask for KYC?

Who knows if these kids are really into that?

The minds of these kids today are hard to predict, they are up to something new although they are aware that it might harm themselves. There are legit sites that does not require KYC too.

When you say legit, do you mean legal? Or licensed? Please cite those "legit sites."

boyptc

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Quote from: Sithara007 on June 17, 2019, 11:25:10 AM

If the main intention is to prevent under-age players from participating in gambling, then I would say that KYC will be having hardly any impact. I have seen kids as young as 12 years using the Tor browser in my city. Don't you think that they will be tempted to use illegal gambling sites (where KYC is not required) in case the legal ones ask for KYC?

Who knows if these kids are really into that?

The minds of these kids today are hard to predict, they are up to something new although they are aware that it might harm themselves. There are legit sites that does not require KYC too.

Sithara007

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If the main intention is to prevent under-age players from participating in gambling, then I would say that KYC will be having hardly any impact. I have seen kids as young as 12 years using the Tor browser in my city. Don't you think that they will be tempted to use illegal gambling sites (where KYC is not required) in case the legal ones ask for KYC?

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Quote from: Capt00 on June 12, 2019, 01:42:27 AM

Quote from: Vishnu.Reang on June 11, 2019, 11:54:03 AM

Most of the gamblers don't have any issues in paying taxes on their profits. But the problem here is that gambling is a grey area, and no one knows when the authorities will use some loophole to frame you. So avoiding the KYC is not a method to avoid paying taxes. On the other hand, it can be an attempt to hide your involvement in gambling.

Submitting KYC is not a problem if we only know what would be the reason of being required. Submitting into unknown personality will something be a big deal and it for sure gambler won't do it, otherwise it compromise ourself in the future.
I don't think that submitting our real identy will lead into paying taxes cause it is not the government are asking for this but only a separate party and still can be out of their control(government authorities).

The reason has long been made clear a, which is to prevent those who are not of age from gambling and also to control fraudulent activities in the gambling sector, I am sure if it was in the power of the casino owners to stop implementing it they would have done that sine they know so well that gamblers don’t really like this policy but it’s a policy made by government and its needed for some casino sites to be licensed.

I also do not really have any challenge with the policy, except for the fear of having the information leaked someday but then I am sure that would be impossible.

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Quote from: guoyu78 on June 12, 2019, 08:46:21 AM

Quote from: rachman mahesa on June 10, 2019, 06:35:07 AM

KYC procedure in playing gambling seems like a lot of people don't like it, including me personally. Because according to many KYC people it is certainly very disturbing to do it just want to play gambling. So if there are gambling sites that have to do kyc in order to play, of course I will never play there.

I think people are really not getting the whole concept of KC and every policy they want to draft after creating a company, they want to include KYC in it which they implement without thinking deeply if such requirement is necessary or not.

The main reason for KYC is guide against the use of fund illegally and also to guide against money laundering, in the case of gambling, I don’t think there can be any case of such, and even if they have to know brief details about their clients, I think the little registration form is more than enough for such.

I am sure very soon, the way people are beginning to really discourage KYC, many company including gambling sites will eventually stop implementing it.

I think you forgot to add another reason which is to prevent minors and this is the aspect most gambler and I think this is the real cause for considerable consternation for most gamblers. KYC isn’t really the challenge and I am very sure the reason gamblers suddenly disappear or raise eyebrows when its time to fill this is because most online gamblers are not of gambling age.

I know a lot of friend who are underage and not qualified by law to gamble but because of anonymity, they now gamble freely and this KYC regulation would never work in their favor, so you see why they would continue to fight it even though its for a good cause?

sana54210

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Quote from: leowonderful on June 10, 2019, 08:33:06 PM

Quote from: Hypnosis00 on June 10, 2019, 07:05:56 PM

KYC is a confidential documents and we don't want it to give without a concrete reason cause we know the possibility if mishandled.
At this time, it looks like KYC is required and almost all exchanges and gambling sites asking for it to validate our registration most specifically with the withdrawal. If that so, we have no choice but to submit it otherwise, you left your money inside.

You can always do a quick search about the site you plan on gambling on and whether or not the site requires KYC at any stage of using the site through a search engine like Google. I typically do this before playing on somewhat newer casinos that I have my eyes on, and it's been working pretty well recently considering people are usually quick to point out any crypto site requiring KYC. That way, you'll (hopefully) never need to submit KYC on a gambling site again.

And I still haven’t seen a good reason why gambler fear to fill an ordinary KYC form that much, I do that often and I have no fears since I know that I have a clear conscience and I have no worries if my private information on a site would ever backfire at me, that’s just my opinion and if we are concerned about the security of the site, then it would also be the same with the money we have in our bank accounts because nothing is ever 100% safe but some risks are just worth taking.

I think since the reason for KYC is mainly to check the activities of laundered money, especially in crypto gambling, it is expected for all gamblers to offer maximum cooperation to make this a success because at the end it is not only beneficial to the casino sites alone but also to the gambler.

Topic: KYC procedure in online casinos does more good than bad or the other way around? - page 4. (Read 2125 times)