It's always good to read the TOS of the casino before joining to understand whether or not KYC can be requested and when. Mostly casinos don't ask for KYC unless you have managed to land a humongous win or you have cheated the casino in any way be it glitches, bugs or some kind of money laundering involvement.
I would recommend you to check BTCGOSU, a really nice review site that clearly mentions whether a casino requires KYC or not and you can find out without having to go through the long T&C.
Nowadays more and more crypto casinos are asking for KYC and that may have to do with the increasing licensing and regulation of the crypto casinos. Earlier when only a handful of casinos existed like PrimeDice there was no need for KYC ever. There used to be directbet that allowed gambling without any account so KYC was never an option in such times but now things are getting more and more regulated.
Topic: risk of kyc on crypto casinos ? - page 8. (Read 5062 times)
Just find the homeless in your city with id, give him 20 bucks and bam u r verified
That is the last and worst thing you would want to do, and I will list the reasons why.1- The person that provides you with the documents can always claim back the account by proving his identity to the casino and you are at the risk of not just losing your account but also any balance and winnings.
2- The casino might ask for further verification like skype call or selfie and you would struggle to get that arranged from the homeless man, unless you have some kind of subscription deal and paying him every month lol
3- In case the person sells his ID to someone else and by chance he creates an account on the same site as you already did, you are a toast.
It's always better to take a stand and either provide your own documents or just stay away from those asking for KYC verification. Using someone else's documents or trying to evade the process will only land you in more trouble, sooner or later.
Many gambling platforms are using KYC to deprived gamblers of their high wins where by they would demand for KYC and if the gambling does not want to submit KYC, the fund will be withheld from them. I don't really like Casino that do request for KYC because they can use it against us anytime. I prefer now KYC gambling platform where our identity would not be required. It makes things easy for everyone.
KYC may be applied if the gambler wins a large amount, which is already the case in many casinos. We have seen that many of them have to submit documents to the casino to exceed the limit set by the casino. If you don't really like casinos that ask for KYC, I think you should be able to limit yourself to not going over the limits of the casino. It is natural for casinos to ask for KYC from gamblers who want to withdraw big money from their place.
Just find the homeless in your city with id, give him 20 bucks and bam u r verified
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And with big money KYC mostly helps you and defends you.
KYC is introduced to help the casino stay out of trouble with the authority and to prevent them from supporting online theft.Having said that, doing KYC is not the problem but user private data falling into the wrong hand is the major problem, and my advice to people is that if they must do KYC it must be with a reputable casino with good history.
I think that the risk of KYC is always present not only in casinos but also in any business that has to comply with the financial regulations. You have to provide quite personal information to a number of institutions for many usual things in life and if they leak, there may not even be a way to determine where the leak came from. I tend to mark passport pictures with a watermark, so if they end up the dark web, there is a chance to know the origin.
some people don't want to KYC in the crypto sector because their profile is associated with "big" crypto transactions, or they were active during early days. maybe they have not a single satoshi (nowadays), but they are "well known" as whales
and this can be a potential issue. In the past there have been cases of kidnapping or violence against individuals who fell into this category.
It is normal that there is a certain reluctance to provide personal information about it, or at least to limit as much as possible the information that is provided even to companies with a certain reputation.
Looking for more crypto casino options,used to play on stake but had kyc asked over,is there any that has absolutely 0% chance of that being asked ?
ps: if you are a winning player (i know its rare or impossible) or won a big jackpot on any crypto casino, i would like some tips if you can,i can pay for your time,my telegram is @ ellieljonzz
A lot of reputable casino are asking for KYC. But most of them do not implement it to every user they have. ps: if you are a winning player (i know its rare or impossible) or won a big jackpot on any crypto casino, i would like some tips if you can,i can pay for your time,my telegram is @ ellieljonzz
Some of the reasons they would ask you for KYC is because:
- Your balance came from a bonus and you won bigger than usual from it.
- Even though you did not get any bonus from them, and were able to win a huge hit and decided to request a withdrawal of also a large amount.
- You deposited large sum of money and lately request a withdrawal
As for me - KYC is not a problem for the most of the gamblers. It can become problem if you are breaking the law, but in such situation everything can become a problem. But you have positive moments due to KYC. The casino can`t freeze your withdrawal "because you are a strange man" for example. And with big money KYC mostly helps you and defends you.
KYC covers both the safety of the users and the casino site. Others are seeing it as a risky thing because of the thought of an information breach but so far, I haven't heard any complaints about those who complied with the KYC requirements on reputable sites. As long as we are not breaking their TOS and we're on the trusted site our KYCs are safe. As for me - KYC is not a problem for the most of the gamblers.
KYC is not a problem if manage properly but you can't speak for every gambler because the last time i checked some gamblers still make privacy their top priority.Meanwhile, almost all casinos are implementing KYC now and it is all because of their master license holder rules and regulations.
It can become problem if you are breaking the law, but in such situation everything can become a problem.
Like i said if managed properly and thats KYC can still be a problem if the user doesn't break any law. What i am talking about is the users data falling into the wrong hands or there's a data breach just like the one that happened to Ledger wallet.And with big money KYC mostly helps you and defends you.
KYC is introduced to help the casino stay out of trouble with the authority and to prevent them from supporting online theft.I think that the risk of KYC is always present not only in casinos but also in any business that has to comply with the financial regulations. You have to provide quite personal information to a number of institutions for many usual things in life and if they leak, there may not even be a way to determine where the leak came from. I tend to mark passport pictures with a watermark, so if they end up the dark web, there is a chance to know the origin.
^You have a good point here the same on some exchanges that I encountered when submitting my ID as a part of the KYC verification. It indicates there the name of the exchange or company and the date when your picture was taken. Probably in that case you are safe from a possible leak in the future because your documents cannot be sold on the dark web because it has a watermark. Submitting your personal documents online is always a risky part, if you are a high-profile person, probably don't go for KYC.
I think that the risk of KYC is always present not only in casinos but also in any business that has to comply with the financial regulations. You have to provide quite personal information to a number of institutions for many usual things in life and if they leak, there may not even be a way to determine where the leak came from. I tend to mark passport pictures with a watermark, so if they end up the dark web, there is a chance to know the origin.
Looking for more crypto casino options,used to play on stake but had kyc asked over,is there any that has absolutely 0% chance of that being asked ?
ps: if you are a winning player (i know its rare or impossible) or won a big jackpot on any crypto casino, i would like some tips if you can,i can pay for your time,my telegram is @ ellieljonzz
What I know is that stake don't mandate a kyc but why you are being ask to do so anyway? Have you won a big jackpot lately? Or maybe you have done something which isn't right according to their tos? Stake is a licensed casino so there's a possibility that they will be asking it even if they didn't state it on their rules but you can try playing on an unlicensed casino although the risk of being scammed is also high as the majority of them are not rated or they are unpopular.ps: if you are a winning player (i know its rare or impossible) or won a big jackpot on any crypto casino, i would like some tips if you can,i can pay for your time,my telegram is @ ellieljonzz
If I were you I will just faced it. Just do a kyc if you believe that you are clean. This site is trusted so you don't worry about your kyc, they won't leak or sold it elsewhere.
Most online casinos that are regulatory compliance have mandated their members to go through kyc processing which is a result of rampant money laundering and misuse of the casino bonus system, so if you have a good and reputable casino your identity is safe with them and you have nothing to worry about kyc.
As for me - KYC is not a problem for the most of the gamblers. It can become problem if you are breaking the law, but in such situation everything can become a problem. But you have positive moments due to KYC. The casino can`t freeze your withdrawal "because you are a strange man" for example. And with big money KYC mostly helps you and defends you.
KYC covers both the safety of the users and the casino site. Others are seeing it as a risky thing because of the thought of an information breach but so far, I haven't heard any complaints about those who complied with the KYC requirements on reputable sites. As long as we are not breaking their TOS and we're on the trusted site our KYCs are safe. 
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When you buy groceries at a grocery store, the store has to pay taxes. You don't have to give them your personal information although many want that information. Even if a book is reputable, if they have a lot of players, that player list will be sold because it's worth a lot of money.
Correct. But have you tried to buy items in a grocery store for 2000 EUR at once? I dont know how things are done in your country, but in my, if you buy an item that cost +1000 EUR, you will be asked to provide your ID. Dont know real reason why they ask to do that, maybe due to carders "pwning" shows with stolen cards.
I will repeat - if you aim to get a jackpot or win hundred thousand or millions, get ready to pass KYC and it absolutely ok for them to ask for KYC. But if you win 10 bucks and forced to pass KYC, screw this casino
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As for me - KYC is not a problem for the most of the gamblers.
KYC is not a problem if manage properly but you can't speak for every gambler because the last time i checked some gamblers still make privacy their top priority.Meanwhile, almost all casinos are implementing KYC now and it is all because of their master license holder rules and regulations.
It can become problem if you are breaking the law, but in such situation everything can become a problem.
Like i said if managed properly and thats KYC can still be a problem if the user doesn't break any law. What i am talking about is the users data falling into the wrong hands or there's a data breach just like the one that happened to Ledger wallet.And with big money KYC mostly helps you and defends you.
KYC is introduced to help the casino stay out of trouble with the authority and to prevent them from supporting online theft. 
KYC is the main skepticism crypto users have to take if they want to enjoy a centralized service like a licensed casino.
Answering the question in the title, the obvious main risks (from the user's side) are abuse and privacy. The abuse I mean is that even though the casino says the collection of user identities will be used for the purposes stated in the policy, they don't really guarantee that every element of the company can comply with the rules. I have heard several times about cases of selling user identities by an employee at a large company.
As for privacy threats, we need to revisit the true features of crypto which are decentralized and uncensored. To be honest when the concept of bitcoin was introduced, casino players were like getting a drop of water in a barren desert. Especially for those where gambling is prohibited in their country, bitcoin is a (at least) risk-free solution to betting without being recognized. Slowly KYC began to be implemented in crypto casino companies which indirectly (slowly) removed the freedom of gamblers.
Answering the question in the title, the obvious main risks (from the user's side) are abuse and privacy. The abuse I mean is that even though the casino says the collection of user identities will be used for the purposes stated in the policy, they don't really guarantee that every element of the company can comply with the rules. I have heard several times about cases of selling user identities by an employee at a large company.
As for privacy threats, we need to revisit the true features of crypto which are decentralized and uncensored. To be honest when the concept of bitcoin was introduced, casino players were like getting a drop of water in a barren desert. Especially for those where gambling is prohibited in their country, bitcoin is a (at least) risk-free solution to betting without being recognized. Slowly KYC began to be implemented in crypto casino companies which indirectly (slowly) removed the freedom of gamblers.
Right now I only know 1 casino that doesn't ask for KYC and that one is Just-Dice, there you can depo and withdraw any amount without any problems, and since it uses clam coin which has 1-minute blocks the deposits and withdrawals are really fast.
The only problem is they only have dice as the game, so, if you want to play slots or bet on sports you will have to be ready to give your credentials in other casinos.
The only problem is they only have dice as the game, so, if you want to play slots or bet on sports you will have to be ready to give your credentials in other casinos.
Any legitimate casino today requires some form of KYC. You can't really escape it unless you are willing to play with some less reputable, shady casino. Not just 'take KYC or scram' attitude but this is for your own good. You wouldn't want to be in a casino where bots are infested and abuse ref, promotion program.
That's right. A player must think about the security of his/her fund and account. There are many reasons why gamblers are not interested in doing Kyc. Many people are interested in kyc for fear of personal information being leaked for any reason. Because crypto users always want to avoid kyc, so they prefer to go the other way. But gamblers should also keep in mind the benefits that can be found in a reputed casino, you won't find that in those low quality, risky casinos.
As for me - KYC is not a problem for the most of the gamblers. It can become problem if you are breaking the law, but in such situation everything can become a problem. But you have positive moments due to KYC. The casino can`t freeze your withdrawal "because you are a strange man" for example. And with big money KYC mostly helps you and defends you.
KYC covers both the safety of the users and the casino site. Others are seeing it as a risky thing because of the thought of an information breach but so far, I haven't heard any complaints about those who complied with the KYC requirements on reputable sites. As long as we are not breaking their TOS and we're on the trusted site our KYCs are safe.
Any legitimate casino today requires some form of KYC. You can't really escape it unless you are willing to play with some less reputable, shady casino. Not just 'take KYC or scram' attitude but this is for your own good. You wouldn't want to be in a casino where bots are infested and abuse ref, promotion program.
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