Crypto is yet to be identified by many nations across the world and is restricted by many. Most people , at least I can vouch for my network of crypto traders that they prefer to stay anonymous. Also, people stay in dark when dealing with crypto and share that with very few close people (Atleast I am like that). Plus, the hassle with KYC documentation and registration process could be a reason.
Simply because players dont want to know their identity, and since gambling is illegal in other country it is also the reason why many players dont want to be recognize or to know because having KYC in crypto player think it is something done by government which for me this KYC is possible made from government whi want to identify those people whi using crypto 
Topic: Reasons Crypto Players Skip Casinos with KYC (Read 3426 times)
(SINCE THE TOPIC HAS BEEN ACTIVE HERE ON BITCOINTALK FOR QUITE SOME TIME NOW, I DECIDED TO CREATE AN INFOGRAPHIC ABOUT IT. AND NOW IN THIS UPDATED POST, YOU WILL SEE I ALREADY ATTACHED BELOW THE INFOGRAPHIC FOR EVERYONE'S EASY READING)
“Know your customer,” “know your client,” or simply KYC is a procedure carried out by a business to verify the identity of its potential and existing customers. This is done to avoid putting the business at risk of being used by fraudulent individuals for illegal activities like money-laundering.
Additionally, the procedure is one way of protecting the interest of the customers, usually in case of loss of account or fund forfeiture.
In the online betting industry, all the reputable casinos you know do the KYC in compliance with the gaming-related laws within the jurisdictions they target. They are required to get their players’ personal information like name, age, address, and sometimes banking details. They even ask the players to present copies of their valid IDs just to ensure there will be no fraud.
While some cryptocurrency players find KYC beneficial and well-intentioned, others see it as a menace to online betting. Here's an infographic summarizing why:
SOURCE WITH FULL ARTICLE: 4 Reasons Crypto Players Skip Casinos with KYC
I hope you find this post friendly. Feel free to comment below your thoughts on KYC procedures in crypto-accepting casinos.
“Know your customer,” “know your client,” or simply KYC is a procedure carried out by a business to verify the identity of its potential and existing customers. This is done to avoid putting the business at risk of being used by fraudulent individuals for illegal activities like money-laundering.
Additionally, the procedure is one way of protecting the interest of the customers, usually in case of loss of account or fund forfeiture.
In the online betting industry, all the reputable casinos you know do the KYC in compliance with the gaming-related laws within the jurisdictions they target. They are required to get their players’ personal information like name, age, address, and sometimes banking details. They even ask the players to present copies of their valid IDs just to ensure there will be no fraud.
While some cryptocurrency players find KYC beneficial and well-intentioned, others see it as a menace to online betting. Here's an infographic summarizing why:
SOURCE WITH FULL ARTICLE: 4 Reasons Crypto Players Skip Casinos with KYC
I hope you find this post friendly. Feel free to comment below your thoughts on KYC procedures in crypto-accepting casinos.
Crypto is yet to be identified by many nations across the world and is restricted by many. Most people , at least I can vouch for my network of crypto traders that they prefer to stay anonymous. Also, people stay in dark when dealing with crypto and share that with very few close people (Atleast I am like that). Plus, the hassle with KYC documentation and registration process could be a reason.
There are many reasons why crypto players skip those casinos that requires with KYC. The first one is some casinos that need kyc is very hard to verify and takes a lot of time to do KYC because they need to wait the approval of the casino if their kyc is approved or not, second is because why do really crypto players need kyc in order to just play in casinos? It is not necessary to give them our personal information for us just to play and gamble our money and it would be hard for us crypto players to trust anyone with our personal information. That would be some reasons why many crypto players are denying and don't want casinos that requires a kyc.
Simply when the player don't want to let the site to know who they were gambling on their site is the reason to skip KYC needed sites but the sites may not doing intentionally at some sites because their governments wants it and some governments made illegal to gamble so if there is someone from the restricted place using their site to bypass law will make trouble to the sites.There are many reasons why crypto players skip those casinos that requires with KYC. The first one is some casinos that need kyc is very hard to verify and takes a lot of time to do KYC because they need to wait the approval of the casino if their kyc is approved or not, second is because why do really crypto players need kyc in order to just play in casinos? It is not necessary to give them our personal information for us just to play and gamble our money and it would be hard for us crypto players to trust anyone with our personal information. That would be some reasons why many crypto players are denying and don't want casinos that requires a kyc.
Simply when the player don't want to let the site to know who they were gambling on their site is the reason to skip KYC needed sites but the sites may not doing intentionally at some sites because their governments wants it and some governments made illegal to gamble so if there is someone from the restricted place using their site to bypass law will make trouble to the sites. 
There are many reasons why crypto players skip those casinos that requires with KYC. The first one is some casinos that need kyc is very hard to verify and takes a lot of time to do KYC because they need to wait the approval of the casino if their kyc is approved or not, second is because why do really crypto players need kyc in order to just play in casinos? It is not necessary to give them our personal information for us just to play and gamble our money and it would be hard for us crypto players to trust anyone with our personal information. That would be some reasons why many crypto players are denying and don't want casinos that requires a kyc.
I think that people mainly got into the crypto space for the privacy and freedom they get by using a decentralised currency like Bitcoin. Having to complete KYC it's a burden just like on the other more "regulated" online casinos. So why use crypto then? Why not play with the inflationary fiat than risking your precious deflationary bitcoins?
Because as you said, we are free to use crypto, and we can manage our crypto without bank interfere. We use crypto because we don't want to see our fiat reduce or lose because of gambling. Besides that, there are so many coins besides bitcoin that we can use to play gambling. That is the other advantage of using crypto, and people who are in the crypto will still choose crypto to play gambling. They don't want to complete KYC because it's just a gambling game, and we don't have a big chance to win big money.
I think that people mainly got into the crypto space for the privacy and freedom they get by using a decentralised currency like Bitcoin. Having to complete KYC it's a burden just like on the other more "regulated" online casinos. So why use crypto then? Why not play with the inflationary fiat than risking your precious deflationary bitcoins?
Most of us do really skip casino's with KYC because it takes a lot of time for us to submit it, and we also have trust issues in submitting KYC because they may use our informations to illegal activities like fraud and scams, that is why it will be fine if we just skip KYC in online casinos.
It's not a matter of time, but there is no need to do KYC to gamble. We are not to invest here, but to play, play and play. So things that users should not do when playing gambling on any site.
thats why i think its ok to have KYC in winning huge amount but not in daily playing so we can skip and keep our details until we won big amount that may reflect to money launder
Most of us do really skip casino's with KYC because it takes a lot of time for us to submit it, and we also have trust issues in submitting KYC because they may use our informations to illegal activities like fraud and scams, that is why it will be fine if we just skip KYC in online casinos.
It's not a matter of time, but there is no need to do KYC to gamble. We are not to invest here, but to play, play and play. So things that users should not do when playing gambling on any site.
Majority of the gamblers are not looking for a regulated casino as they know if its regulated, it's automatic that it will require some KYC.
Let's have some practical example, if I am gambling like 100 usd in sports betting, I don't think I would bother to comply with KYC just to play, that amount is something that I can afford to lose but an exchange losing its reputation is equivalent to millions of loses to them.
Let's have some practical example, if I am gambling like 100 usd in sports betting, I don't think I would bother to comply with KYC just to play, that amount is something that I can afford to lose but an exchange losing its reputation is equivalent to millions of loses to them.
It depends from which country you are from. I know a few people from US or UK that when they register online for a casino they expect to get KYC and even in fact,,, if they do not see it, they ask you if it is really legit.
But if your country bans gambling then of course you want to not be identified overseas even online. It is all a matter of perspective for me.
Most of us do really skip casino's with KYC because it takes a lot of time for us to submit it, and we also have trust issues in submitting KYC because they may use our informations to illegal activities like fraud and scams, that is why it will be fine if we just skip KYC in online casinos.
You have pointed the most reason why we don’t want or support KYC because at some point this can be used against us because they have our personal profile things that is very sacred if we are in the internet,because it’s our safety’s and funds involves on this oneThe reasons why gamblers are skipping the kyc is just because some of the kyc is very hard to passed and take a lot of time, also why should a gambler needs a kyc or why they should provide their identity and their real informations? As a gambler I do not see this as a requirements because if you want to play gambling then all you need to have is funds or money in order for you to play. As long as you have money you can play for fun and also earn.
We are in gambling to have fun and to have chance of becoming rich as well,that’s why I don’t understand why KYC is needed?or this is part of anti money laundering issues?because there are some gamblers that uses the gambling sites as way of hiding their personalities and transfer the funds from one way to another
Most of us do really skip casino's with KYC because it takes a lot of time for us to submit it, and we also have trust issues in submitting KYC because they may use our informations to illegal activities like fraud and scams, that is why it will be fine if we just skip KYC in online casinos.
People wants safe and secure system of gambling that’s why where ever you go you will get people who will demand you KYC so it’s about you either you provide or not. When those gambling site owner goes somewhere they will also have to face the same so I don't see any problem to give this in case of security issues.
It may make the system safe, clear from bad conducts but it risks our identity. What's the point of living in a safe place while our identity is in a big risk? We don't need to risk our identity sending personal documents for kyc requirements, and as you wanted gambling for fun and lucky wins it should be done privately. I wonder why it came up on their mind seeking every users identity to be transparent with them. Maybe this kind of implementation was too strict and I don't think the people didn't seem to appreciate this. They're just pushing away customers, because most of them preferred to be anonymous instead of revealing their identity.
Protecting our document will be the priority for us to prevent the stealing from the thief. We don't know what their purposes of seeking the user's identity is but perhaps, they want to know from where the money comes. But even if the gambling owner knows from where the money, it will be difficult to know if the money from money laundering or the other illegal stuff. Perhaps, if they reveal their identity to the public, people will see that they are real people who operate the gambling website.
There’re many exchange that not required KYC and besides what we’re talking here is Gambling sites and not specific exchanger’s so those are different thing as what I believe
And besides we can choose for where to pay without KyC and why need to be hold in with this requirements when we can enjoy not having it.
And also it’s their losses if thy cannot lure players to be in their sites while they are generating KyC and others are not
And besides we can choose for where to pay without KyC and why need to be hold in with this requirements when we can enjoy not having it.
And also it’s their losses if thy cannot lure players to be in their sites while they are generating KyC and others are not
People avoid gambling site which requires KYC because they don't want to send their document to the wrong person. And if that is for playing gambling, we can find many gambling sites which don't have to complete KYC even if we win big money. Usually, if gamblers feel enjoy to stay in one gambling site, they will not move to another website. They will remain on the gambling site, which is free from KYC because they are careful with their private documents.
The reasons why gamblers are skipping the kyc is just because some of the kyc is very hard to passed and take a lot of time, also why should a gambler needs a kyc or why they should provide their identity and their real informations? As a gambler I do not see this as a requirements because if you want to play gambling then all you need to have is funds or money in order for you to play. As long as you have money you can play for fun and also earn.
You are right, even though the site owner wants to avoid money laundering as the reason of requesting KYC documents, it's just a bit non-sense if we talk about freedom in this decentralize space. I'm pretty sure the reason why most people playing on internet is to avoid restrictions from countries that doesn't allowed their citizen to do gambling.The reasons why gamblers are skipping the kyc is just because some of the kyc is very hard to passed and take a lot of time, also why should a gambler needs a kyc or why they should provide their identity and their real informations? As a gambler I do not see this as a requirements because if you want to play gambling then all you need to have is funds or money in order for you to play. As long as you have money you can play for fun and also earn.
The requirements is easy I think but the decisiom to pass it is very hard we know we can't trust anyone like passing your real Identity. But I don't think gamblers will be worry because this now there is a lot of gambling site who offer anonymous not having a kyc is a good for the player because we don't need to pass it because we are player and possible for us to lose money so what is the point of having KYC to gamblers and I think that is useless only the team will take advantages to us. The reasons why gamblers are skipping the kyc is just because some of the kyc is very hard to passed and take a lot of time, also why should a gambler needs a kyc or why they should provide their identity and their real informations? As a gambler I do not see this as a requirements because if you want to play gambling then all you need to have is funds or money in order for you to play. As long as you have money you can play for fun and also earn.
You are right, even though the site owner wants to avoid money laundering as the reason of requesting KYC documents, it's just a bit non-sense if we talk about freedom in this decentralize space. I'm pretty sure the reason why most people playing on internet is to avoid restrictions from countries that doesn't allowed their citizen to do gambling.
The reasons why gamblers are skipping the kyc is just because some of the kyc is very hard to passed and take a lot of time, also why should a gambler needs a kyc or why they should provide their identity and their real informations? As a gambler I do not see this as a requirements because if you want to play gambling then all you need to have is funds or money in order for you to play. As long as you have money you can play for fun and also earn.
Most of the crypto users choose this crypto space as the security mode and to be anonymous while they are investing. So no one wish to KYC verification for any kind of services. Including gambling, trading, exchanges and so on.
Then when there is sites give the option to invest without KYC verification no will go such option.
Then when there is sites give the option to invest without KYC verification no will go such option.
But mostly, the exchanges require traders to do KYC. I only know Binance which don't need to do KYC, but if you do KYC, your limit will be bigger than the traders who don't complete KYC. Yes, we want to play gambling on the gambling website which doesn't require KYC because we don't want to send any document to them. Perhaps, gambling website which doesn't have to complete KYC will have a big member who will play gambling, and I am sure that they will stay on that site and have fun.
And besides we can choose for where to pay without KyC and why need to be hold in with this requirements when we can enjoy not having it.
And also it’s their losses if thy cannot lure players to be in their sites while they are generating KyC and others are not
Let's have some practical example, if I am gambling like 100 usd in sports betting, I don't think I would bother to comply with KYC just to play, that amount is something that I can afford to lose but an exchange losing its reputation is equivalent to millions of loses to them.
Most of the crypto users choose this crypto space as the security mode and to be anonymous while they are investing. So no one wish to KYC verification for any kind of services. Including gambling, trading, exchanges and so on.
Then when there is sites give the option to invest without KYC verification no will go such option.
Then when there is sites give the option to invest without KYC verification no will go such option.
But mostly, the exchanges require traders to do KYC. I only know Binance which don't need to do KYC, but if you do KYC, your limit will be bigger than the traders who don't complete KYC. Yes, we want to play gambling on the gambling website which doesn't require KYC because we don't want to send any document to them. Perhaps, gambling website which doesn't have to complete KYC will have a big member who will play gambling, and I am sure that they will stay on that site and have fun.
And besides we can choose for where to pay without KyC and why need to be hold in with this requirements when we can enjoy not having it.
And also it’s their losses if thy cannot lure players to be in their sites while they are generating KyC and others are not
Jump to: