Some Random Thoughts on KYC and Non-KYC - page 2.

AmoreJaz

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Quote from: Smartprofit on October 26, 2024, 02:27:29 PM

Unfortunately, strict compliance procedures are the reality of our world. I don't like it. The principle of presumption of innocence in the financial sector no longer works.

A simple suspicion is enough and the owner of the funds will have to provide a huge amount of supporting documents (to prove that he is not a criminal). Online casinos can also be understood. If it turns out that criminals have cashed out funds (obtained by criminal means) through casinos in the past, then law enforcement officers will make claims against the casino. They will demand that the criminals be identified. This is why online casinos introduce KYC procedures.

Unfortunately, in our time, any casino can require any user to undergo the KYC procedure. This may be due to a request from law enforcement agencies or other circumstances.

Not all casino, but they should be licensed at least. Before requiring their players to undergo kyc. Because if the site is not licensed and anonymous, do you think it is fair for their players to comply with KYC protocol? I don't think so.
So the casino should make sure they are operating legit and with necessary license before restricting their players owed to KYC docs.

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Quote from: Oshosondy on October 26, 2024, 11:52:06 AM

I prefer reputation. There are many gambling sites that will allow you to withdraw up to certain amount of money without KYC and they have good reputation.

OP, what are you talking about?? It's either this information is wrong or written incorrectly... Possibly some typos. Look, getting registered on a casino that doesn't require KYCs is one of the lamest ways to lose your funds ...
There's nothing like owning a firm outside the regulatory bodies/agencies and keeping it reputable still; infact, one of the more reasons why they refuse to get their asses a licence with the Curacao licensing commission/ or another agency is that they wanna solely control whatever happens in there -- in that case, they could fold up and disappear into thin air without any traces or they can hide from censored policies against MONEY LAUNDERING.

Quote

Also they follow AML policies.

what sort of AML policies do they follow?? Who regulates these policies for them?

Smartprofit

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Unfortunately, strict compliance procedures are the reality of our world. I don't like it. The principle of presumption of innocence in the financial sector no longer works.

A simple suspicion is enough and the owner of the funds will have to provide a huge amount of supporting documents (to prove that he is not a criminal). Online casinos can also be understood. If it turns out that criminals have cashed out funds (obtained by criminal means) through casinos in the past, then law enforcement officers will make claims against the casino. They will demand that the criminals be identified. This is why online casinos introduce KYC procedures.

Unfortunately, in our time, any casino can require any user to undergo the KYC procedure. This may be due to a request from law enforcement agencies or other circumstances.

Slow death

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Casinos need a license and from what I understand, the license provider requires casinos to do KYC on their customers. So it's hard to find a casino that won't ask for KYC and if the casino doesn't have a license, people start to be afraid to use the casino. So new casinos and even old ones don't have many choices and have to ask for KYC. I don't have a problem with KYC. In fact, I think it's a good idea for all casinos to ask for ID so that minors aren't allowed to play in the casinos. The problem is when some casinos start asking for a lot of documents and purposely reject people's documents when they have big wins so they don't pay out.

Zigabel

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

True, even the supposed non KYC casinos do request KYC at some point, probably when the gambler gets a huge win or huge deposits, before withdrawal of such funds, KYC is usually required in most cases , I doubt if I have seen any they literally don't require KYC at all except that they don't require it upon registration but for the sake of anonymity KYC shouldn't be compulsory except for those who really does wants it then it could be granted them but they shouldn't make it compulsory less the gamblers runs away from it based on the fact that their identity isn't protected.

Nwada001

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Quote from: asyakashi on October 25, 2024, 07:30:48 PM

Each casino certainly has its own TOS, but most casinos will ask for KYC verification if you indicate fraud on our account, and large withdrawals, and for KYC and non-KYC casinos there is no need to debate if you play honestly your account will be safe, no need to worry.

The problem is not about being trusted and not being trusted, but it's about regarding a KYC casino as none KYC. Just because they don't make KYC mandatory doesn't mean that they should be called nonKYC.

We should always address them properly in order not to confuse ourselves, like some casinos openly claim to be none KYC while their TOS says a total different thing.

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

Well done, many people don't want to believe that asking for KYC is the norm, they instantly hate a casino for asking for KYC, I mean how the hell will the casino co-exist with this centralised messed up world? They will put them out of business with ease unless they follow the rules of this centralised world, asking for KYC is the new norm, people needs to grow up and accept this.

I am not for or against KYC as well, whatever happens is fine for me, when using a new online casino I always have my national identity card next to me just in case, and most of the time they tend to ask only when you win high amount of money and thats hardly me, because I don't even use a good amount of money to gamble, my mental health is far important to me than anything.

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Quote from: EarnOnVictor on October 26, 2024, 10:21:20 AM

I always go for the KYC casinos no matter what anyone would tell me because I love a regulated environment (weak or not). As for the supposed no-KYC casinos, a few are true to it while others merely deceive people, either way, I prefer decentralised casinos if it's going to be no-KYC. Those centralised ones might lure you into it with that guise but later ask for it. Others target some good players to ask for the KYC. And we've seen cases where the no-KYC casino, after achieving success in the industry asked all their customers to complete the KYC, citing regulation.

I prefer reputation. There are many gambling sites that will allow you to withdraw up to certain amount of money without KYC and they have good reputation. Also they follow AML policies.

KYC also does not mean the gambling site is regulated. Even a fake gambling site can ask for KYC which can later be used against you.

Do not mind those that say decentralized gambling sites. The gambling sites that are existing that I know as oof now are web2 and Web3 which are both centralized gambling sites.

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

Every licensed casino will ask you to go through KYC eventually. Read their terms, and you will see that they can ask for you to verify your identity at any point. And none of those casino will advertise as No KYC casino. So if you don't want to go through KYC, you have to play on a non licensed casino. In that case, you will be playing on an illegal casino and in case you get scammed by them, there is nothing much you will be able to do. Another option are those decentralized casinos, but I don't know much about them.

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Quote from: Agbamoni on October 26, 2024, 08:21:42 AM

With that being said, there shouldn't be any form of KYC requirement when it comes to Web 3 gambling.

No, there's no guarantee web 3 casinos will not ask KYC, check their terms.

Quote from: Orpichukwu on October 25, 2024, 05:26:33 PM

I don't even think if there is any popular NONKYC casino that's active, even the web 3 casinos that come out with being non-kyc; most of them are already demanding KYC when necessary.

I only know one, it's Dgbet.fun, when I check their terms, I didn't find they're asking personal information or KYC.

EarnOnVictor

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

I think you know much about these casino vices even though you asked these as questions. Well, we have enough things playing out in the casino world and there are good, bad and ugly actors and happenings. I always go for the KYC casinos no matter what anyone would tell me because I love a regulated environment (weak or not). As for the supposed no-KYC casinos, a few are true to it while others merely deceive people, either way, I prefer decentralised casinos if it's going to be no-KYC. Those centralised ones might lure you into it with that guise but later ask for it. Others target some good players to ask for the KYC. And we've seen cases where the no-KYC casino, after achieving success in the industry asked all their customers to complete the KYC, citing regulation.

acroman08

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

they are probably out there but with the increase and strict regulation being implemented towards online casinos nowadays a lot of casinos have now implemented KYC into their casino in some ways, some might be lax with it to attract more gamblers, and people are also probably confusing that with casinos with no KYC.

Fiatless

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

You have raised an important point that needs clarification. Some casinos usually use slogans like "No KYC" to attract gamblers. But they are well aware that the government wants them to comply with Anti-Money Laundering (AML) laws within operational jurisdiction. That is why gamblers must take time to read the ToS before registering. A reputable casino will not deceive its customers about not requiring KYC, rather the stages of KYC are well spelt out. If you are not comfortable with the terms, you can decide not to register.

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Quote from: Orpichukwu on October 25, 2024, 05:26:33 PM

Any casino that said they can ask for KYC verification document is a KYC casino and not none KYC; anyone regarding it as NONKYC casino is just deceiving himself or herself.

I don't even think if there is any popular NONKYC casino that's active, even the web 3 casinos that come out with being non-kyc; most of them are already demanding KYC when necessary.

Casinos do take KYC more important when it comes to matters that involve money/funds. From what I've heard, nowadays the gambling industry has shifted into gaming plus gambling into one platform which is the Web 3 casino, and no doubt it's generating a lot for the gambling industry. With that being said, there shouldn't be any form of KYC requirement when it comes to Web 3 gambling.

Quote from: Orpichukwu on October 25, 2024, 05:26:33 PM

I don't even think if there is any popular NONKYC casino that's active, even the web 3 casinos that come out with being non-kyc; most of them are already demanding KYC when necessary.

MetaWin and 500 Casino are still no KYC casinos that are functioning right now and they are legit.

uneng

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Yes, there are non-KYC casinos, but they are minority and don't have enough popularity to compete against the big platforms for the public. Most gamblers aren't concerned about giving their personal data to online websites, so the KYC factor isn't a decisive one when deciding where to gamble. I believe KYC was a sensible matter in the early years of crypto industry, when it had a restricted portion of adopters adept of privacy and anonymity on the internet, so the services available had to fulfill the demands of that public. As consequence, we had many unregulated casinos (probably I couldn't even call them casinos, but dice platforms instead).

Nowadays, crypto industry reached another segments of society, and for these new adopters, privacy plus anonymity aren't important aspects to worry about. Therefore, neither casinos will worry about avoiding to introduce KYC feature. Even more because regulators' siege around gambling and crypto industry are getting harder these days, so if you want to operate your business legitimaly, you have to follow regulations strictly.

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People want to play for the non-kyc platform because they want to protect their information but how about the case if there's an issue with your account and you can't verify anything to claim that is your account at all, also the casino does not require a kyc yet if there's nothing wrong with your activity they just seek for the verification at least if they see something wrong with your account. Also you can use not your main email account to your gambling casino at all most of the time just level 1 is just the email address and phone number which is sometimes optional

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

that is the trick hehe,that other casino pretending to be kyc free but when need to withdraw? then there's the kyc implemented .

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

KУC casinos may not ask you for verification when you register and even when you deposit money into your game account, but when you withdraw your winnings, this may happen. This is why you need to read the user agreement to understand what you can expect. But even in those casinos that do not require verification, an automatic check may occur, the list of reasons, by the way, is also prescribed in the terms.

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Quote from: Jawhead999 on October 26, 2024, 04:20:32 AM

Yes there's really a no KYC casino in this forum, no KYC means the casino will not ask KYC in any condition and situation, it's not written in terms.

If the casino ask KYC because the gambler is abusing their casino or related to criminal and it's written in their terms, it's KYC casino, there's no way to call temporary no KYC casino as no KYC casino.

Some casinos are like that; they claim they won’t require KYC because they’re non-KYC casinos, but they still have the right to ask for KYC if they need to investigate an account. It’s absurd - they’re basically fooling us.

In the past, I’ve seen some decentralized casinos that were the real non-KYC options, but it seems like they’re not operating anymore from what I checked. That’s probably because regulations in this industry have become really strict. If they can’t comply with the requirements to operate legally, they’d rather shut down than deal with lawsuits that could be too costly for them.

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Quote from: Davidvictorson on October 25, 2024, 04:32:08 PM

Are there really no KYC casinos? Or do people confuse casinos that don't make KYC mandatory upon sign as non KYC when in fact when you read their Terms of service, there is a section that mentions that they can randomly ask for identification if they smell rat? I also think that unless it is stated clearly that non-KYC, don't assume it is. I am not for or against KYC or non-KYC casinos, it is just a curious question that I want to be discussed and get the opinions of others.
Thank you.

When I've signed up for stake, it's actually a no kyc casino that I am happily using with my bets. But then, I know in fact that a day will come that they'll ask for some more verification and it did come. I think everyone is slowly accepting it that majority of the crypto casinos are starting from being a non-kyc casino and then sooner or later, because of some regulatory pressures, they'll have to ask their users to do it. Let's just take it that it's like a welcoming bonus when they're not yet asking for any verifications and welcome their users with no pressure about complying to KYC and verifications. But it's for sure that a time will come that they'll ask for it. Heard and seen about decentralized casinos long time ago but one problem there is the number of their players and sustainability is close to impossible.

Topic: Some Random Thoughts on KYC and Non-KYC - page 2. (Read 635 times)