Topic: KYC procedure in online casinos does more good than bad or the other way around? - page 8. (Read 2151 times)

For all Casino platform that deals with Fiat Money, Credit Card and Bank Transaction a KYC procedure is a must and should be strictly followed,. If you don't want to do KYC don't play on those casino platform.

Casino that mainly deals with cryptocurrency hardly require KYC to their members and since cryptocurrency is anonymous and private in nature KYC is not relevant.

This sum up all the discussion on this thread and lets all stop now

That is right. There are even countries with strict regulations and penalties against gambling and people in order to gamble in such countries have to use crypto to take care of the transactions. The presence of KYC on certain gambling or casino sites make things messed up and these gamblers rather look for other ways to make sure they stay safe and gamble safe. KYC is for financial transparency and AML thing.

Gamblers will stay away from the site which uses KYC because they don't feel right to pass the KYC. They prefer to search the other gambling site which doesn't use KYC because they want to protect their identity from the scamming. So in this way, I will say that having KYC in the online casino will not good for the gamblers, and you will not attract many gamblers who will come to your site.

The problem with KYC in gambling site is that some of the countries does view gambling as a grey area and they might not be having a clear regulation and people will avoid providing their details as they do not want any trouble for having fun in the form of gambling. Some people are not fortunate to have freedom and bitcoin should help people who are living in other part of the world who does not have those opportunities and are living under dictatorship or strict religious rules, money laundering should be curtailed but the freedom should not be curtailed either.

Exactly. The purpose of using cryptocurrency in gambling is to stay under the mask and disable every system which could possibly document your identity. Now if you have KYC on your website that is a gambling website, the number of users on the website would be too low because it is not desirable for the gamblers to click and pass through the KYC. They would look for another website with no KYC.

That’s very true mate. I saw sense in your post. Most of the times I base my trust on casino sites based on the years they have existed and that is the reason why I never on new sites but I just realized there is possibility of old famous sites handling over to a new management.

Submitting KYC is a great risk irrespective of the site involved, What’s now the essence of anonymity in gambling? The reason I particular ran away from fiat to online gambling is because I respect my privacy and I don’t like to disclose my personality as a gambler, so it will defeat the objective if I still see myself submitting my private information on a casino site.

Your statement about feeling that a reputable company would sell over to another reputable company makes me laugh. It looks like you are not too familiar with gambling operators. No reputable casino site should be 100% trusted. If you have no issues with submitting KYC cool, there’s no problem at all but you should not do it based on trust.

I cannot gamble on a site that requires KYC not because I don’t trust them but because I hate to leave my personal information on a gambling site. Online gambling is all about anonymity and that is what gives it advantage over all kind of ambling, so I expect it to remain like that always.

People gamble online using crypto currencies so that they can do it anonymously. Then whats the use of them gambling online with crypto currencies if they will have to expose their identity? Again, I have seen different casinos that asks for KYC form fill up after someone tries to make huge withdrawal. They just try to find as much excuses they can to avoid paying them.
Though I won't be deny the good sides of KYC.

Most of the online casinos would actually not care about the fraud or whatever that is. There are actually two reasons why some of them are doing it, It's either they follow the law of their nations or they wanted to get more personal information for their personal gains.

It is really necessary for most of the trading sites because most of them registered their business unlike casinos which is in the first place it's legality is not clear.

You just don’t want KYC for reasons best known to you because if you truly desire to drop your KYC you will understand that a reputable site that have been in operation for years will not compromise its standard for any reason. KYC regulation is just a way to have details of a clients and no reputable site would do anything bad with it.

If your fear is what if the reputable company sells over to a new management entirely, well I feel a reputable company would hand over to someone they can trust , because they’ve already successfully built a brand name and they will not allow it go on the mud for any reason.

How do you know a casino sites that has established itself to be trustworthy? Is it based on reviews or based on its years of existence? That’s hell no: Shits happen in the gambling industry and no casino site can be trusted for a lifetime. They may have been on for some time, but they can decide to bring out their true color at any point.

What if the so called trustworthy site becomes bankrupt and needs to make money at a point or what if the management changes and the system changes entirely to become corrupt and that’s the point you decide to submit your KYC, I think it is risky and for me, I don’t care how  reputable a site is, if it has to do with gambling, I don’t submit my KYC.

Even they say that it would be nice if gambling site were implemented KYC but I rather choose a gambling site which not have KYC implementation. The credibility of the gambling site is not a measure if you are going to pass KYC. The best thing is we're looking for a good service which is reliable for us. The casinos that have KYC aren't good and also aren't bad, the effect on this is having a costumer. Of course, no KYC implementation was very tempted to the gamblers to gamble because the majority of them avoided submitting personal data.

Yes, exactly. People will stay away from the gambling website which requires KYC because they don't want to send any document to the website. And fortunately, we are in the crypto gambling site, and we have so many recommended gambling website that we can use for gamble. I always check on every gambling website before I deposit or play gambling especially for the KYC section so I can know which site that I can use to gamble.

Yes they can be trusted, The reason why most sites apply know your customer regulation during withdrawal is because of government policy in some jurisdictions, the requirement of gambling operators is to verify the age and identity of their customers. And the reason for this laws is to
*prevent money laundering and fraud : so as long as your hands are clean and you know you aren’t involved in any kind of fraudulent act, you should not be scared about KYC regulation

*Another reason is to prevent minors: SO if you are sure you are of age and of full legal responsibility, you will not have any issue with KYC. It is even more risky to play in a gambling site that does not have KYC policy, because it might not be licensed or working contrary to the license criteria’s.

Be careful how you gamble on such sites because it can be very risky. I understand that we bettors don’t like sites that require KYC but they are safer. Most of this sites that don’t care are not licensed and for some that are licensed they are doing it are only clashing the requirements and it can be risky. Hope they don’t shut down one day and run with your money.

I suggest you start seeing nothing wrong with gambling sites that require KYC regulation, they are actually the safest to play on. Just look for one that is reputable and feel free to drop your personal information knowing that it is safe, they only request for it because the government has a policy that gambling sites should get the information’s from their customers.

Just because a site has been in operation for 3-4 years, there is no guarantee that they can be trusted. Because the ownership of these casinos change very frequently, and if someone is able to purchase a well reputed and long running gambling site, there is no surety that he is very clean. With the amount of identity forging going on these days, I would treat KYC as a last resort. And I am definitely against doing KYC in any of the gambling sites, no matter how reputed they are.

That's the way to do it. If the casino has already established itself as a trustworthy site, then and only then will I try to transact with it even if there's KYC.

Well you can't blame gambling sites nowadays to add KYC since gambling sites now accepts different crytos and allows you to exchange example BTC to ETH. If its a new site and ask for KYC, I wouldn't try to send anything to them, but if its an old site that has been running or operating for several years already, I would go for KYC.

Yeah like Freebitco.in they take bets from kids too.  No verification of age is requested.  How dare you refer me as the 2-5 year old spammer which is really the thorn in TheQuin's side.  He used fake allegations of VPN's being used to confiscate millions in Satoshis.  3 Minors, 3 Devices, 3 Emails, and multiple deposits from each.  When Freebitco.in stole the funds and refused to respond to emails we came here with our complaints.  It was not VPN's as he stated in fact he encourages U.S. residents to use VPN's to get around (Reputable) internet casinos that block U.S. residents.  When Government officials from where Freebitco.in claims to operate from told Ken to demand refunds TheQuin said he could call the police for Blackmail but was not going to do that.  Then when Ken gave TheQuin proof he was working with someone with The BVI Government who said they were not a registered business or corporation and not authorized to do business in The BVI that's when TheQuin banned accounts and stole Millions of Satoshis in deposits.  You get to see his side of the story but not ours and then we get ridiculed with needless name calling in an attempt to create awareness in what happened to us.  Another complaint surfaced where the guy had 1000 referrals and to avoid paying him commissions due he was accused of Multi Accounts as well.

What is good in this industry that you have an options and variety of selections of those site which you didn't need any compliance with KYC procedures, you can enjoy the games and withdraw all you want without fearing that KYC will take place.