Reasons Crypto Players Skip Casinos with KYC - page 21.

xvids

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Quote from: Bitinity on April 26, 2019, 06:58:37 AM

Lets me quote the 4 reasons in this thread:

Quote

#1 Compromised Anonymity
#2 Fear of Info Exploitation
#3 Hassle
#4 Country Restrictions

Further details of each reasons can be read on the added link by OP.

I myself one of those who against KYC procedure for betting purpose in this bitcoin/crypto gambling industry. I have to say that 4 above reasons are enough to represent my situation but the main important reason why I choose to gamble with crypto is about its anonymity. In case all crypto gambling sites requires KYC in the future, I think I will stop gambling as there is no reason for me to continue as I gamble for fun only so I do not want to reveal my identity in online gambling.

Yes it is true those first three reason is why I hate and skip those casino with KYC.
I am already in legal age and I like crypto because of it's anonymity I want to gamble or earn as an anonymous.
And it is not new to us that there are some identity seller in the black market or in Deep web.
And it is just hassle to send out your I.D or personal info besides there are tons of gambling site that doesn't need KYC why would we bother doing it ?

maydna

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KYC? Yes or no? Of course, I choose No Grin

I don't want to choose a gambling site which is use KYC. That is why so far, I try to stay with on the gambling site which doesn't need KYC. Besides that, I wonder why they need to collect our personal identification, and they don't allow us to withdraw the money if we don't submit KYC. I don't like to fill KYC, and it's not just in the gambling site, but it's including ICO, IEO project except exchanges because I used the exchange to make money and I don't mind to fill KYC. But I only choose the recommended exchange to submit KYC.

ralle14

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For me, it's the hassle I really don't like to take so much time in making an account and at the same time submitting KYC because i'm not a highroller who's betting thousands per bet that's why I prefer to go for gambling sites without KYC. Also after reading several threads on different gambling experiences I don't want to go through the same problems of people who struggled to receive their money just because of KYC.

TheCoinGrabber

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Quote from: Bitinity on April 26, 2019, 06:58:37 AM

Lets me quote the 4 reasons in this thread:

Quote

#1 Compromised Anonymity
#2 Fear of Info Exploitation
#3 Hassle
#4 Country Restrictions

Further details of each reasons can be read on the added link by OP.

I myself one of those who against KYC procedure for betting purpose in this bitcoin/crypto gambling industry. I have to say that 4 above reasons are enough to represent my situation but the main important reason why I choose to gamble with crypto is about its anonymity. In case all crypto gambling sites requires KYC in the future, I think I will stop gambling as there is no reason for me to continue as I gamble for fun only so I do not want to reveal my identity in online gambling.

I didn't open the article but #1 and #2 were really the first thing that came to my mind. People usually give up information to exchanges that convert to fiat since those have government permits and they don't have much choice anyway if they want to cash out. With online casinos they can afford to be fussy.

Indrawan77

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I think gambling got a negative stigma in society so it's better to hide the identity when you gamble, and some are from the country that restricted gambling, but what I most fear is the identity theft, once the kyc data leaked nobody knows what could happen with your identity, I think crypto should be free from all kyc, anonymity is the highlight of crypto and casino should able to respect that

beerlover

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Quote from: playboy654 on April 27, 2019, 02:10:46 PM

Mostly KYC is like torturing thing for The Gambler to make their investment peacefully that is the most important things that everyone regretting and jumping into other type of field and it is mostly because of their privacy will be reduced while using this.

It is really exasperating and I keep wondering why a site would come up with such inconveniencing policy for gamblers. I don’t joke with my privacy and I cannot compromise it for any reason. I have the feelings that if anyone would be bent on having KYC then it shouldn’t be a gambling site, knowing how well gamblers always like to keep it private.

This KYC requirement has affected my gambling investment with a lot of casino sites because I just back out immediately I see the demand and I feel that is really wrong on the gambling operators side. I hope something is done about this.

Oceat

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Quote from: Malsetid on April 27, 2019, 07:34:50 AM

It's the difference crypto makes when it comes to anonymity that makes a lot of gamblers opt to use it. No personal information, just them and their unique wallets. Take that away and these people will lose the reason they chose crypto casinos in the first place. For reputable sites, gamblers will be more at ease submitting kyc's but that makes little difference from regular online gambling already.

How i wish they will take that KYC away but i guess it is not suitable to most gamblers since they couldn't gain some privacy that they wanted. And when we do talk about of gambling site there is a bigger chance that most gamblers are not in the legal age to gamble. That's why they hated to participate in KYC verification. Even if they were in their legal age most of them like to have their anonymity and privacy with them.

whirlcoin

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Quote from: ruthwithers1980 on April 26, 2019, 06:20:02 AM

“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 why: 4 Reasons Crypto Players Skip Casinos with KYC

the most important thing is after the KYC implementation there will be lots of restriction available for the Gamblers to gamble with their free mind this is the problem for WhatsApp tablets to get changing their sides and I think it will definitely needed to be changed with little regulations

coolcoinz

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I'd really like to hear some valid reasons for KYC in crypto, especially in casinos. My attitude has always been as libertarian as possible, meaning that it's my money is my private matter. For that reason I will strongly oppose any law that tells me how to use my money. When you take your cash to a real casino, a store with alcohol or tobacco, buty painkillers, paid porn subscription, whatever, nobody asks for your identity. The same attitude should dominate in crypto, no matter if it's an online store, a service like VPN, or a casino.

akram143

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Yes the relapse of restriction after included the KYC into gambling cashino that is the most important reason for lots of people getting out from this and make the other way.

playboy654

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Mostly KYC is like torturing thing for The Gambler to make their investment peacefully that is the most important things that everyone regretting and jumping into other type of field and it is mostly because of their privacy will be reduced while using this.

mersal

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Yes everyone needs privacy especially in gambling type of field they feel secure when the KYC is not been there so I think OK it is not the problem from the side of people it definitely need to be cleared to manage everything carefully to the convenience of the investors in gambling.

Malsetid

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It's the difference crypto makes when it comes to anonymity that makes a lot of gamblers opt to use it. No personal information, just them and their unique wallets. Take that away and these people will lose the reason they chose crypto casinos in the first place. For reputable sites, gamblers will be more at ease submitting kyc's but that makes little difference from regular online gambling already.

Twinkledoe

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Quote from: Rufsilf on April 26, 2019, 07:24:21 PM

Its all the anonymity we loss and it turns out that from time to time it will be no more anonymous in crypto.
KYC is a way the casino owners will stop scammers and some illegalities but it could also be an instances that they'll be using our personal records for their bad intentions. That's we worried about.

We really don't know what's happening behind the curtain. If you are a gambler, more than likely you want to be anonymous in your online gambling activities. But to follow some legalities, those gambling casinos require KYC stuff. So it is up to the gambler if he will comply or not. And just enjoy those sites that don't require KYC from their customers.

Rufsilf

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Its all the anonymity we loss and it turns out that from time to time it will be no more anonymous in crypto.
KYC is a way the casino owners will stop scammers and some illegalities but it could also be an instances that they'll be using our personal records for their bad intentions. That's we worried about.

klaaas

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The amount of casinos where you could play without kyc outnumber the ones where it is required so most wont bother and pick one without for a occasional bet. For me i wont use those casinos because i dont like the idea my id is out into the wild when the casino get hacked or sold.

adzino

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There are lots of reasons behind users avoiding crypto casino that asks for KYC form fill up. First of all, users play on crypto casinos due to the fact that they can remain anonymous and it actually is less hassle from playing in a real life casino. Now if users will have to fill in their KYC forum and submit their information, they no longer remain anonymous. Again, that is a lot of hassle! It becomes the same as playing in a traditional casino. So for this reason, they try to avoid casinos that ask for KYC.

carlfebz2

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Quote from: Bitinity on April 26, 2019, 06:58:37 AM

Lets me quote the 4 reasons in this thread:

Quote

#1 Compromised Anonymity
#2 Fear of Info Exploitation
#3 Hassle
#4 Country Restrictions

Further details of each reasons can be read on the added link by OP.

I myself one of those who against KYC procedure for betting purpose in this bitcoin/crypto gambling industry. I have to say that 4 above reasons are enough to represent my situation but the main important reason why I choose to gamble with crypto is about its anonymity. In case all crypto gambling sites requires KYC in the future, I think I will stop gambling as there is no reason for me to continue as I gamble for fun only so I do not want to reveal my identity in online gambling.

All of those reasons are indeed true that why most crypto gamblers do really like to play here rather than on traditional fiat casinos due to that KYC thing. Too much hassle and exploiting your informations wont really be that appealing to anyone.Those thing been said about protection and verification to avoid fraud been said by those operators who do ask kyc is considerable but for most people, giving out those precious info
would really be hard even just telling your own name.

leowonderful

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Bitcoin FTW!

I try to skip KYC with any services in BTC for the main reason that I do not want my information stolen and sold. I've only ever completed KYC for a few exchanges so I'm able to sell my coins for fiat currency when necessary, and I would never ever complete KYC for any other smaller service like a casino. It's already known that KYC documents are being sold in some parts of the web as well, and the risk outweighs the reward of being able to gamble online for me.

Some sites also use KYC as a way to prevent those who win large amounts of crypto from withdrawing, which is very scummy IMO.

Pamadar

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Quote from: XCANA on April 26, 2019, 11:56:36 AM

Quote from: Idrisu on April 26, 2019, 08:07:20 AM

Quote from: rijaljun on April 26, 2019, 07:31:40 AM

KYC is not really good for some people, it may because they are underage or to avoid any requirements to be a gambler. It could be also because some of KYC proccess is not easy as it seems. Some of the proccess takes too long time, and people don't have enough patience to wait for approvement. In my opinion, KYC proccess is not that necessary for gambler because most of gambler must be feeling safer to be unknown.

kyc is good to me and I don't really know why we want to hide our identity. As a gambler it is very important we reveal our identity because it is very possible to make huge amounts of money and if it an evil person that win through anonymous the fund can be channel for evils things that will be a harm to all of us.

Why would i reveal my real identity just because of gambling? Even any exchange with KYC to me is un-go area just to talk about gambling. The reasons why cryptocurrency came into existence is for the purpose of anonymity while gambling or transacting so, with KYC then we can say the purpose has been defeated. Well, am not ready to lease out my real identity to the world, until, let keep KYC as "KIV" Cheesy

Well yes, KYC will definitely break the rules of anonymity I'll only going to provide that inside the casino house if I do win big amount where I can be ready to compromise my identity, but maybe that will take a long time to process as I don't play much and not really engaging to this activity.

Topic: Reasons Crypto Players Skip Casinos with KYC - page 21. (Read 3407 times)