KYC procedure in online casinos does more good than bad or the other way around? - page 6.

samputin

sr. member

Activity: 1036

Merit: 294

Quote from: Yaunfitda on March 15, 2019, 06:29:25 AM

Of course most of us chose playing with crypto because we wanted to be anonymous and we don't want to go the hassle of submitting our personal information. But the problem with some crypto related casino is that they are somewhat 'enforcing' KYC specially if you're going to withdraw a big amount.

Which for me defeats the purpose on why we are in crypto related casino in the first place, decentralized, (psuedo) anonymous. If that is the case then we might as well play in fiat-based, because it seems that there are no difference after all.

Right. I think the primary reason why we gamble online and using crypto is because we want to keep our identities hidden. In other word, anonymous. We want to skip the hassle brought about by filling up forms about our personal information. But based on what I have read, KYC is implemented for regulatory purposes especially for the security of their system. And I guess it's for the greater good.

People will always have different opinions on this one because people have different point of view and that does not exclude gambling. I think, however, that we should just understand the reason behind. Besides, we still have an option to sign up to gambling sites with KYC features or just look for another one which don't have one. It still depends on us after all.

Noilee

full member

Activity: 532

Merit: 101

Quote from: rhomelmabini on March 14, 2019, 09:44:50 PM

As long as the website is trusted and operating for years and has a good reputation, why not? I know that it is a hassle for some user to do KYC but I guess it's for safety reasons as well that it will never be exploited by abuser, cheater, or by worst to criminals or terrorist.

Its true if the casinos requires a kyc definitely its trusted and dont need to doubt or worry, because we are all know for the secure purposes. I think they just want to know if it's really you. But kyc is not need much, especially if you want to hide your personality.

GregH37

legendary

Activity: 1302

Merit: 1037

Quote from: d1ceplayer on May 17, 2019, 05:07:04 AM

Uhm, i think having KYC makes things a lot safe. But one thing you should know is that even scammers can request for KYC, and that means double for them, if you go to the extent of depositing before realizing it's a scam. They will make away with your money and also sell the info you've given to them to the dark web for people needs it, maybe for a criminal purposes, or whatever they need it. So this is one of the reasons why there are people who hates KYC, some people just prefer to stay anonymous and mot give out information about themselves to anyone.

KYC or No KYC, those who would defraud will still do it, I think the reason why many sites are beginning to introduce KYC is to prevent fraud. And some people believe that only sites that ask for KYC are legit. For me I don’t care, because I know how to detect sites that are legit, and I don’t judge using KYC regulation.

What matters to me always is my safety and safety of my information and this is the reason why I will not be too relaxed to fill a KYC form on a gambling site. I feel the site can be hacked and the information leaked out. Until I am very sure that gambling sites have measures in place that would guarantee the site can never be hacked. That Is the only time I might consider dropping my KYC details

d1ceplayer

sr. member

Activity: 686

Merit: 277

Uhm, i think having KYC makes things a lot safe. But one thing you should know is that even scammers can request for KYC, and that means double for them, if you go to the extent of depositing before realizing it's a scam. They will make away with your money and also sell the info you've given to them to the dark web for people needs it, maybe for a criminal purposes, or whatever they need it. So this is one of the reasons why there are people who hates KYC, some people just prefer to stay anonymous and mot give out information about themselves to anyone.

Harlot

hero member

Activity: 1806

Merit: 672

Quote from: okala on May 16, 2019, 10:54:46 AM

Gambler love privacy and once any gambling site is against the privacy of players the look for another gambling site's that give them freedom, I know many share is same believe most of the cryptocurrency lover hate giving out they information in form of kyc and at that making them vonorable to any form of attack because they information and personal data is made public.

Bro don't you even wonder why other gambling sites don't require some kind of KYC? Because they are most probably running their operations illegally. Legit gambling sites permitted by law have been required to ask KYC for their clients not because they want too but because they are required by law oit is one of their solutions for AML. I know a lot of us have grown up with an industry focused on anonimity but since the government is actively being part os us now let us expect that anonimity will not be an option woth them.

okala

full member

Activity: 980

Merit: 114

Gambler love privacy and once any gambling site is against the privacy of players the look for another gambling site's that give them freedom, I know many share is same believe most of the cryptocurrency lover hate giving out they information in form of kyc and at that making them vonorable to any form of attack because they information and personal data is made public.

XCANA

full member

Activity: 1470

Merit: 148

Quote from: roosbit on May 16, 2019, 10:19:16 AM

I think if anyone will be playing from a casino with a very high amount of money(via a deposit)...it makes sense to have the customer go through KYC as its an anti money laundering requirement for most of the regulated casinos unless it's below a certain amount kyc shouldn't be necessary!

We understand quite right, but what are your measures for real identity(KYC)? is your KYC = $200 ~ $1,000?, personally, i value my true identity than any offer one could give from any gambling online casino. If i won such a huge money, and they request KYC from my end, then f**K them with their money, never needn't it, so, let them keep their f**king money, period.

XCANA

full member

Activity: 1470

Merit: 148

Quote from: emberbekas on May 11, 2019, 08:52:53 AM

Quote from: Netnox on May 11, 2019, 01:46:12 AM

"""

Indeed, KYC will reduce the number of users of a casino if they request it as the main requirement........

Haven been here long ago, many gambling platforms that tried to make KYC as their major requirement before a gambler could gamble all failed, becasue nobody was ready to gamble his/her real identity and those with the KYC where those that had other peoples identities. Personally, i wouldn't like to gamble with my real identity because, my identity matters alot tome life online

roosbit

member

Activity: 893

Merit: 43

Random coins :)

I think if anyone will be playing from a casino with a very high amount of money(via a deposit)...it makes sense to have the customer go through KYC as its an anti money laundering requirement for most of the regulated casinos unless it's below a certain amount kyc shouldn't be necessary!

izanagi narukami

legendary

Activity: 2030

Merit: 1028

For some people who pro with KYC
It's nothing to worry about as long as it keep people's identity safe.
Also it's prevent we as gambler to cheat etc

For who contra with KYC
It's dangerous to give personal identity to other platform, some people just want to gambler without identity

So my conclusion, the gambler owner must think globally before decide to use KYC

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: redsun114 on May 16, 2019, 07:51:28 AM

Actually people these days are more concerned about their security than the money they can make over a gambling site if they click on KYC. To be honest, I am more concerned about this security thing after Binance got hacked. There could be a security breach and if your details are exposed over a site, they could be used for worst intentions. In addition, no one would love to disclose his/her identity and here crypto helps a lot and gives you an option for do so. The general response of gamblers to sites that require them to pas KYC is negative.

I have never underwent the KYC process for any of the exchanges or gambling sites. IMO, the risk is just too big (and in my case, since Bitcoin is almost banned in my country it is even more risky). If someone wins $100,000 or amounts greater than that, then KYC can be made mandatory. But for withdrawing or depositing $10, what's the need for going for KYC?

redsun114

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: bitgolden on May 14, 2019, 04:04:44 AM

Quote from: Malsetid on May 12, 2019, 03:59:05 AM

Quote from: emberbekas on May 11, 2019, 08:52:53 AM

Quote from: Netnox on May 11, 2019, 01:46:12 AM

KYC is never going to work with the online casinos. In case a popular online gambling site makes KYC mandatory, then the majority of the users are likely to shift to some other site, where it is not needed. In short, it will just push the activity underground and make it even more difficult for the government authorities to do surveillance and tracking.

Indeed, KYC will reduce the number of users of a casino if they request it as the main requirement. There will be no difference between fiat casinos and crypto casinos. So in my opinion, users might prefer to use fiat casinos rather than crypto casinos when KYC becomes obligatory.

Nope i doubt it. Once a person tries crypto gambling, i don't think they'll go back to fiat just because of kyc implementation. There are a lot of crypto gambling sites out there and it's easy to just move from one casino to another. KYC benefits the casinos more than the users and players and we all know it. Yeah there's the positive effect of making it easier to track scammed and hacked accounts, but compare that to the possibility of your information being compromised when a casino itself gets hacked, i'd rather stay anonymous.

You are very much on point mate. Nobody will visit a city and still consider going back to a remote town or village. That is the difference between Fiat and crypto gambling. The kyc regulation can actually be very frustrating but it is not enough for a player to want to go and gamble with fiat, its not like there are no other of casino sites that do not ask for KYC, I still no some where I play my games without KYC

I have been running away from all the casino sites that ask for KYC because I feel it is not safe for me, like you have said, what if something happens to the site, maybe hacked, so I have to risk my information been exposed? That’s hell NO.

Actually people these days are more concerned about their security than the money they can make over a gambling site if they click on KYC. To be honest, I am more concerned about this security thing after Binance got hacked. There could be a security breach and if your details are exposed over a site, they could be used for worst intentions. In addition, no one would love to disclose his/her identity and here crypto helps a lot and gives you an option for do so. The general response of gamblers to sites that require them to pas KYC is negative.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Distinctin on May 13, 2019, 07:39:26 AM

All the 4 listed reasons why people does not want KYC is correct.
Crypto casinos is popular because they don't enforce KYC and that gives us full freedom here.
With this lack of regulation, it's all favorable for both as casinos can attract more gamblers, while gamblers have the convenience in gambling.

but with these benefits it do really have some sort of disadvantage where gambling sites can easily scam its users funds without
having a fight yet these places aren't regulated which means if theres some sort of shady act on their side theres nowhere you can
run as a player this is why its important to choose up the best among the rest.

MiguelCryptoss

jr. member

Activity: 244

Merit: 3

Quote from: Netnox on May 11, 2019, 01:46:12 AM

In case a popular online gambling site makes KYC mandatory, then the majority of the users are likely to shift to some other site, where it is not needed.

Agree with your view becasue nobody will like to put or stick out his her neck for the government to catch while doing gambling online, especially those regions that disallow gambling for her citizens. In my country, gambling is highly prohibited but, due to the cryptocurrency we can hidling gamble online without any fear from the gambling platforms, because KYC is not involved, if there is KYC, there will be no registration from me.

pinoycash

hero member

Activity: 1316

Merit: 514

Quote from: bonker on May 15, 2019, 05:56:03 AM

Quote from: Vishnu.Reang on May 13, 2019, 08:09:21 AM

I have a mixed opinion regarding this move. Even if we submit the KYC documents, I don't think that the casinos will share them with the authorities unless there is a valid reason to do so. If KYC requirement helps the casinos to get the necessary licenses and tax breaks from the government, then let them do it. The vast majority of the online casinos are owned by honest people.

Not really,some of the most reputed crypto gambling sites in this forum didn't have any legal authority from their respective government which got into attention just recently so they are not going to give some of their profits to their government when there is no necessary to do it.KYC is just like extra requirement to have while we earn huge rewards and want to withdraw it.

When did KYC helps casino get some tax breaks from government? KYC is just a method to verify someones identity to make sure they are not dealing with a money launderer and to check if a real person is behind the keybaord.

KYC should only be made mandatory for random age checks and for big whales that playing with big amount.

bonker

hero member

Activity: 784

Merit: 502

Quote from: Vishnu.Reang on May 13, 2019, 08:09:21 AM

I have a mixed opinion regarding this move. Even if we submit the KYC documents, I don't think that the casinos will share them with the authorities unless there is a valid reason to do so. If KYC requirement helps the casinos to get the necessary licenses and tax breaks from the government, then let them do it. The vast majority of the online casinos are owned by honest people.

Not really,some of the most reputed crypto gambling sites in this forum didn't have any legal authority from their respective government which got into attention just recently so they are not going to give some of their profits to their government when there is no necessary to do it.KYC is just like extra requirement to have while we earn huge rewards and want to withdraw it.

Whosdaddy

hero member

Activity: 1148

Merit: 527

Quote from: bitgolden on May 14, 2019, 04:04:44 AM

Quote from: Malsetid on May 12, 2019, 03:59:05 AM

Quote from: emberbekas on May 11, 2019, 08:52:53 AM

Quote from: Netnox on May 11, 2019, 01:46:12 AM

KYC is never going to work with the online casinos. In case a popular online gambling site makes KYC mandatory, then the majority of the users are likely to shift to some other site, where it is not needed. In short, it will just push the activity underground and make it even more difficult for the government authorities to do surveillance and tracking.

Indeed, KYC will reduce the number of users of a casino if they request it as the main requirement. There will be no difference between fiat casinos and crypto casinos. So in my opinion, users might prefer to use fiat casinos rather than crypto casinos when KYC becomes obligatory.

Nope i doubt it. Once a person tries crypto gambling, i don't think they'll go back to fiat just because of kyc implementation. There are a lot of crypto gambling sites out there and it's easy to just move from one casino to another. KYC benefits the casinos more than the users and players and we all know it. Yeah there's the positive effect of making it easier to track scammed and hacked accounts, but compare that to the possibility of your information being compromised when a casino itself gets hacked, i'd rather stay anonymous.

You are very much on point mate. Nobody will visit a city and still consider going back to a remote town or village. That is the difference between Fiat and crypto gambling. The kyc regulation can actually be very frustrating but it is not enough for a player to want to go and gamble with fiat, its not like there are no other of casino sites that do not ask for KYC, I still no some where I play my games without KYC

I have been running away from all the casino sites that ask for KYC because I feel it is not safe for me, like you have said, what if something happens to the site, maybe hacked, so I have to risk my information been exposed? That’s hell NO.

See how you humorously spilled out the truth. The difference between fiat gambling and crypto gambling is obviously clear and no one would ever choose fiat over crypto. I really do know why some crypto sites are beginning to introduce KYC regulation. Two among the sites I checked to play yesterday asked for it but my joy is that I still found one with good games that didn’t ask me for it.

Even though nothing would happen to the site or there is no possibility for it to be hacked, I don’t see any reason for KYC on a crypto site. What’s now the decentralization in cryptocurrency? I am truly of the opinion that there shouldn’t be KYC in a crypto gambling site. It is not necessary.

neonshium

hero member

Activity: 1134

Merit: 515

Quote from: michellee on May 13, 2019, 09:24:54 AM

Quote from: emberbekas on May 11, 2019, 08:52:53 AM

Quote from: Netnox on May 11, 2019, 01:46:12 AM

KYC is never going to work with the online casinos. In case a popular online gambling site makes KYC mandatory, then the majority of the users are likely to shift to some other site, where it is not needed. In short, it will just push the activity underground and make it even more difficult for the government authorities to do surveillance and tracking.

Indeed, KYC will reduce the number of users of a casino if they request it as the main requirement. There will be no difference between fiat casinos and crypto casinos. So in my opinion, users might prefer to use fiat casinos rather than crypto casinos when KYC becomes obligatory.

Yes, gamblers will stay away from the gambling website which has KYC, and they will search on the other gambling site. With so many recommended gambling website, I am sure we can find the site that will suit us, and we don't have to bother with the KYC process. The gambling website owner should think like gambler sides, did he wants to do the same thing if KYC is needed?

That is pretty right. There are always some alternative you could go for if you find few sites that require you to pass KYC. To be honest, the use of crypto in gambling is felt only when some one does not want his or her identity to be disclosed and wants to gamble anonymously. Crypto comes to rescue in such a situation and KYC can really spoil your joy.

bitgolden

legendary

Activity: 2996

Merit: 1132

Leading Crypto Sports Betting & Casino Platform

Quote from: Malsetid on May 12, 2019, 03:59:05 AM

Quote from: emberbekas on May 11, 2019, 08:52:53 AM

Quote from: Netnox on May 11, 2019, 01:46:12 AM

KYC is never going to work with the online casinos. In case a popular online gambling site makes KYC mandatory, then the majority of the users are likely to shift to some other site, where it is not needed. In short, it will just push the activity underground and make it even more difficult for the government authorities to do surveillance and tracking.

Indeed, KYC will reduce the number of users of a casino if they request it as the main requirement. There will be no difference between fiat casinos and crypto casinos. So in my opinion, users might prefer to use fiat casinos rather than crypto casinos when KYC becomes obligatory.

Nope i doubt it. Once a person tries crypto gambling, i don't think they'll go back to fiat just because of kyc implementation. There are a lot of crypto gambling sites out there and it's easy to just move from one casino to another. KYC benefits the casinos more than the users and players and we all know it. Yeah there's the positive effect of making it easier to track scammed and hacked accounts, but compare that to the possibility of your information being compromised when a casino itself gets hacked, i'd rather stay anonymous.

You are very much on point mate. Nobody will visit a city and still consider going back to a remote town or village. That is the difference between Fiat and crypto gambling. The kyc regulation can actually be very frustrating but it is not enough for a player to want to go and gamble with fiat, its not like there are no other of casino sites that do not ask for KYC, I still no some where I play my games without KYC

I have been running away from all the casino sites that ask for KYC because I feel it is not safe for me, like you have said, what if something happens to the site, maybe hacked, so I have to risk my information been exposed? That’s hell NO.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: emberbekas on May 11, 2019, 08:52:53 AM

Quote from: Netnox on May 11, 2019, 01:46:12 AM

KYC is never going to work with the online casinos. In case a popular online gambling site makes KYC mandatory, then the majority of the users are likely to shift to some other site, where it is not needed. In short, it will just push the activity underground and make it even more difficult for the government authorities to do surveillance and tracking.

Indeed, KYC will reduce the number of users of a casino if they request it as the main requirement. There will be no difference between fiat casinos and crypto casinos. So in my opinion, users might prefer to use fiat casinos rather than crypto casinos when KYC becomes obligatory.

Yes, gamblers will stay away from the gambling website which has KYC, and they will search on the other gambling site. With so many recommended gambling website, I am sure we can find the site that will suit us, and we don't have to bother with the KYC process. The gambling website owner should think like gambler sides, did he wants to do the same thing if KYC is needed?

Topic: KYC procedure in online casinos does more good than bad or the other way around? - page 6. (Read 2153 times)