Stake requires its users to verify their accounts to Level 2-deadline 01.01.2025

Ziskinberg

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Quote from: Sithara007 on November 19, 2024, 10:44:40 PM

OK... From what I understand, level 2 verification is required only in case we gamble on the platform. For those of us who are on signature campaign, this should not be an issue. Even if my account is set to "withdrawal only" mode, it is fine with me. Anyway, tougher regulations could be expected. Stake has grown quite rapidly over the years, and along with growth comes increased scrutiny from the government authorities.

That’s what I heard: members of the signature campaign are fine; they shouldn’t worry because they can withdraw their earnings on a weekly basis. But if you guys are planning to gamble in a casino that still requires KYC, why not just comply with the requirements? Who knows, some of you might even get an offer of $250, and I heard that this bonus isn’t subject to any terms.

Quote from: Sithara007 on November 19, 2024, 10:44:40 PM

On top of that they are based in Australia, where the regulations can be quite tough.

Do you have a source of this? What I read is that they have a license in curacao.

Poker Player

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Quote from: Solosanz on November 16, 2024, 11:38:30 PM

Regulation is unavoidable especially after Trump elected to be The US president and Bitcoin price rose to $93K, 2025 might be a new year where cryptocurrency and the projects are getting tighter regulation.

What does this have to do with Trump? What Trump is going to do precisely is to remove regulations. I don't know what he will do specifically about gambling but someone of republican ideology what he believes in is a small state with few regulations and low taxes, and so he has explicitly said that he is going to do it in terms of economic issues in general and in the crypto space, so I doubt very much that this measure of Stake has something to do with Trump and if you are sure that it is so I would appreciate it if you would provide the source of what you say.

Sithara007

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OK... From what I understand, level 2 verification is required only in case we gamble on the platform. For those of us who are on signature campaign, this should not be an issue. Even if my account is set to "withdrawal only" mode, it is fine with me. Anyway, tougher regulations could be expected. Stake has grown quite rapidly over the years, and along with growth comes increased scrutiny from the government authorities. On top of that they are based in Australia, where the regulations can be quite tough.

coin-investor

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Quote from: Wexnident on November 17, 2024, 03:09:56 AM

Not that it affected me though, I've done mine the moment I registered anyway Tongue

.

Its Stake: if people can do it on new casino and low-budget casinos, why not on the industry giant like Stake.com
if it is only doubt of their information, Stake is compliance and regulated, so they will do everything to keep your information protected and safe.
Drake prefers stake to bet, so I'm sure he has done his KYC, and so are the many celebrities and high rollers; they have the biggest numbers of high rollers.

Igebotz

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Quote from: Solosanz on November 16, 2024, 11:38:30 PM

Bye bye people who always say Stake is no KYC casino because they've gambled for few years and didn't get asked to verify their accounts.

Regulation is unavoidable especially after Trump elected to be The US president and Bitcoin price rose to $93K, 2025 might be a new year where cryptocurrency and the projects are getting tighter regulation.

But, it's good to see Stake give an official announcement rather than enforce KYC rules silently.

Let's not politicise everything; KYC 2 has always been on Stake, and they're just making it mandatory because they feel compelled to; it has nothing to do with Trump's victory. KYC is required at some point to improve the system.

Moreno233

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Quote from: iv4n on November 18, 2024, 03:16:11 AM

We all knew it was coming, the bigger the casino the more rules they have to follow if they want to operate worldwide without legal problems. I'm not a regular player in this casino, I play some poker sometimes and that's about it. For now, I don't plan to pass the second level of verification, but when I decide to play poker a little more seriously, I will consider KYC and maybe agree to it so that I can play poker without problems.

Anyway, we should all be ready to go through KYC if the casino requires it for any reason. I'm not a fan of KYC, but those are the rules... and we either accept them or move on.

There is always a caveat that the casinos reserve the right to ask for additional information or documents at any time. So long as users accept this condition during registration, it should not sound so strange to them as the only thing they have to do is to oblige. The notice given is enough for all their active members to do the needful as it is displaced even in the website in such a way that it will will be seen whenever a user place a bet in the website. The only people that will not meet up are those who might have not been using the site for a long time, in that case they ought to send out emails since people created accounts with emails.

Sanitough

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Quote from: Davidvictorson on November 18, 2024, 07:27:33 AM

We all have an idea why this is directive have been given and irrespective of the present situation, business must go on. For them it is better to lose some customers than lose their business. If I were using stake, I would have no issues with this whatsoever. On the one hand it is for them and on the other hand, it will benefit the customers more. At this point, I can only guess that if this is happening at stake, it is only a matter of time before other online casinos join the bandwagon.

Stake’s operation in the US speaks about their capability and compliance, it’s not easy to get a license there. So, this news about them requiring KYC isn’t surprising. Actually, back in Bitcoin’s early days, many exchanges didn’t require KYC, but now it’s standard. Since both crypto exchanges and gambling are regulated, KYC has become automatic, a basic requirement for important reasons like AML policies and ensuring client protection. It’s just the way the industry is evolving.

Quote from: https://ats.io/social-casinos/stake/legal-states/

Stake.us is the U.S. version of the popular Stake.com Casino, and it’s currently legal in 43 of 50 states (all but Idaho, Kentucky, Michigan, Nevada, New York, Vermont, and Washington). In this guide, we’ll provide a full list of states where you can play Stake and also discuss the casino’s legality, licensing, and regulatory compliance to help you figure out if it’s a safe and legitimate option for online gaming.

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Quote from: Ziskinberg on November 16, 2024, 11:18:42 PM

I can already see it in my account, I need to upgrade to Level 2 verification, though I haven’t done it yet. For reference, my account is currently only email-verified. But with this new directive, all accounts must comply with Level 2 verification. Just an FYI for everyone!

Check this website https://casino.online/news/complete-stake-com-kyc-level-2-by-january-2025-to-access-bigger-bonuses/

Quote

From 1st January 2025, customers must complete Level 2 verification to continue using their Stake.com accounts. This involves submitting identification documents, which protect players from fraud, ensuring that all account transactions are secure and compliant with regulatory standards. Importantly, this change guarantees that funds and withdrawals remain available, and no funds will be withheld during the process.

Additionally, completing KYC allows users to claim new bonuses, including VIP-level promotions tailored to their playing history. Verified users will receive exclusive offers and benefits, making this change even more rewarding.

Here's the guide if you'll act on it now. https://stake.com/blog/kyc-know-your-customer-casino-guide
Also, you can check on the discussions about the level 2 verification on this separate thread.

We all have an idea why this is directive have been given and irrespective of the present situation, business must go on. For them it is better to lose some customers than lose their business. If I were using stake, I would have no issues with this whatsoever. On the one hand it is for them and on the other hand, it will benefit the customers more. At this point, I can only guess that if this is happening at stake, it is only a matter of time before other online casinos join the bandwagon.

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Quote from: Slow death on November 18, 2024, 06:29:45 AM

People are forgetting that more than 70% of casinos are licensed in Curacao, so by asking for mandatory KYC, Stake is complying with the recommendations of the licensing provider, which means that more than 70% of casinos will follow the same path that Stake is following. If someone thinks like this: "I'm going to stop using Stake because they're asking for KYC", that person is postponing the inevitable that they will have to do KYC at another casino. That's why my advice is: "do KYC at Stake and keep using the casino" because all casinos will ask for mandatory KYC eventually.

That’s a spot-on analysis... This new move is clearly due to recommendations or directives from the regulators. It’s simple logic, why would Stake enforce KYC when they’d get more players if it weren’t required? Obviously, there’s pressure from higher-ups to comply. This is a sign of what’s coming, so we need to be prepared, as whether we like it or not, stricter regulations are becoming the norm, and KYC might soon be unavoidable for most gambling platforms.

bakasabo

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Quote from: lovesmayfamilis on November 18, 2024, 05:37:56 AM

At least, we should be grateful that this announcement did not come as a surprise, giving people the freedom to decide whether or not to continue with this casino. Although I am not surprised by anything, the regulation may not be liked by many, but if you want some security guarantees, just go through this verification. Frankly, in our time it is very difficult to maintain confidentiality, and it is better to trust old paying casinos than to exchange for many new establishments that have not yet achieved trust in time.

We should be grateful also, for those who did not pass or ignore at all this request, Stake wont freeze account with all funds on it, but will allow to withdraw funds.

Passing level-2 KYC does not scare me much. When visiting most of offline casinos, gamblers are required to provide ID. Stake did technically the same. Would be worse if they require to provide in addition utility bills or bank statement withdrawal for the last 6 months (a bank has recently requested me to provide such thing when I opened an account there).

Slow death

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Quote from: SamReomo on November 17, 2024, 02:34:33 AM

If you love NO KYC then you should avoid Stake from now on because their new policy is strict and KYC is kind of mandatory at their platform now.

People are forgetting that more than 70% of casinos are licensed in Curacao, so by asking for mandatory KYC, Stake is complying with the recommendations of the licensing provider, which means that more than 70% of casinos will follow the same path that Stake is following. If someone thinks like this: "I'm going to stop using Stake because they're asking for KYC", that person is postponing the inevitable that they will have to do KYC at another casino. That's why my advice is: "do KYC at Stake and keep using the casino" because all casinos will ask for mandatory KYC eventually.

GxSTxV

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This was bound to happen eventually as Stake has never truly been a freeKYC casino. Typically they only required Level 1 verification which was just email validation. However, with the changes coming in 2025, likely a push by government regulations, they announced that passing Level 2 verification is now necessary to keep your account secure and avoid issues when withdrawing profits.

To me, these new measures don’t make Stake any less trustworthy or safe. In fact, they notified everyone by email before the deadline and clearly explaining the requirements. That’s a much better approach than some scam casinos that only ask for extra documents after players win big, using it as a tactic to withhold payouts and keep the winner play more and lose his wins eventually.

lovesmayfamilis

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At least, we should be grateful that this announcement did not come as a surprise, giving people the freedom to decide whether or not to continue with this casino. Although I am not surprised by anything, the regulation may not be liked by many, but if you want some security guarantees, just go through this verification. Frankly, in our time it is very difficult to maintain confidentiality, and it is better to trust old paying casinos than to exchange for many new establishments that have not yet achieved trust in time.

arwin100

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Quote from: Bitinity on November 18, 2024, 04:20:29 AM

Quote from: iv4n on November 18, 2024, 03:16:11 AM

Anyway, we should all be ready to go through KYC if the casino requires it for any reason. I'm not a fan of KYC, but those are the rules... and we either accept them or move on.

As simple as that and I strongly agree with it because we as player have to right to decide what to do. If we are strongly against KYC due to privacy, skip the casino and try to find other casino with no mandatory KYC but if we are ok with KYC means there is no issue at all with it. Back to KYC on Stake, I did it last month when they offered few hundreds dollar for those who complete KYC before Oct 7/8. I did it not merely because of the offer but I have good standing account as well in which I have the chance to level up for a better reward later.

Nothings else to do if we don't like what they implement then skip it, since after all we cannot change anything since maybe they are been required to ask this requirement that's why these things happen.

I don't really like to do KYC, but didn't have any choice but to comply with their requirements that's why I choose to stick on what I take trusted casino in this forum. I guess Stake is reputable enough to be trusted by their old players so its up for them if they want to continue or not since they are the one can decide if they want to continue to deal with Stake or move to another casino. There's still lots of alternative casinos available here.

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We must be aware that no-KYC services are something of the past. Regulators now understand what is going around and they are taking seriously crypto currency as medium of transfer.

Of course we can always have some p2p or decentralized gambling system, but structured website and platforms like stake will ALWAYS request these instruments in order to run their business legally.

Bitinity

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Quote from: iv4n on November 18, 2024, 03:16:11 AM

Anyway, we should all be ready to go through KYC if the casino requires it for any reason. I'm not a fan of KYC, but those are the rules... and we either accept them or move on.

As simple as that and I strongly agree with it because we as player have to right to decide what to do. If we are strongly against KYC due to privacy, skip the casino and try to find other casino with no mandatory KYC but if we are ok with KYC means there is no issue at all with it. Back to KYC on Stake, I did it last month when they offered few hundreds dollar for those who complete KYC before Oct 7/8. I did it not merely because of the offer but I have good standing account as well in which I have the chance to level up for a better reward later.

iv4n

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We all knew it was coming, the bigger the casino the more rules they have to follow if they want to operate worldwide without legal problems. I'm not a regular player in this casino, I play some poker sometimes and that's about it. For now, I don't plan to pass the second level of verification, but when I decide to play poker a little more seriously, I will consider KYC and maybe agree to it so that I can play poker without problems.

Anyway, we should all be ready to go through KYC if the casino requires it for any reason. I'm not a fan of KYC, but those are the rules... and we either accept them or move on.

Outhue

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Quote from: Solosanz on November 16, 2024, 11:38:30 PM

Bye bye people who always say Stake is no KYC casino because they've gambled for few years and didn't get asked to verify their accounts.

Regulation is unavoidable especially after Trump elected to be The US president and Bitcoin price rose to $93K, 2025 might be a new year where cryptocurrency and the projects are getting tighter regulation.

But, it's good to see Stake give an official announcement rather than enforce KYC rules silently.

Some gamblers are funny, thinking they can always escape from KYC compliance, it is almost impossible because any online casino that promised KYC are not under the radar of the law because they are not popular, and things are expected to change once a load of people start flooding the casino and the name of the casino start getting everywhere online.

Sooner or later, your favourite online casino will ask you for KYC verifications, it is better to start accepting the possibilities from now on.

Moreover all this is a common sense related, should a casino be operating without been regulated? That makes no sense.

Fivestar4everMVP

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Quote from: Ziskinberg on November 18, 2024, 01:24:37 AM

Quote from: Fivestar4everMVP on November 17, 2024, 07:38:03 PM

But however, I am most interested to know what Stake will do to accounts of those who are from this forum and promoting stake through their signature ad, and used their stake account to only receive their weekly signature ad campaign payments, will their accounts be banned too? I mean this set or group are not gamblers, they do not gamble, but simply earning from this forum and using Stake account to receive payment since it's mandatory by stake campaign manager's rules, what happens to such accounts by the first day of January 2025?

There’s no mention of a ban in this case. The report specifically states that accounts will be switched to “withdraw-only mode.”

So, for those participating in the Stake signature campaign who don’t comply with the KYC requirements, they won’t lose access entirely. They can still use their Stake account, but only to withdraw their weekly pay. It’s a way to ensure payouts without full account functionality for those opting out of KYC.

OK, if this is the case, then it's a great idea, a very good one for that matter, atleast, those who are earning from this forum and using their stake account to receive their weekly payments only actually don't have to go through the kyc process if actually they don't have any intentions of ever gambling with part of the funds like I usually do some times.

Kudos to those who brought up this idea, and sorry for assuming wrongly, I initially thought that accounts that fail to comply with the kyc verification request will either be given an opportunity to pass the verification or be allowed to withdraw the funds in their account and then a ban follows, how wrong I was..

Ziskinberg

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Quote from: Fivestar4everMVP on November 17, 2024, 07:38:03 PM

But however, I am most interested to know what Stake will do to accounts of those who are from this forum and promoting stake through their signature ad, and used their stake account to only receive their weekly signature ad campaign payments, will their accounts be banned too? I mean this set or group are not gamblers, they do not gamble, but simply earning from this forum and using Stake account to receive payment since it's mandatory by stake campaign manager's rules, what happens to such accounts by the first day of January 2025?

There’s no mention of a ban in this case. The report specifically states that accounts will be switched to “withdraw-only mode.”

So, for those participating in the Stake signature campaign who don’t comply with the KYC requirements, they won’t lose access entirely. They can still use their Stake account, but only to withdraw their weekly pay. It’s a way to ensure payouts without full account functionality for those opting out of KYC.

Quote from: Russlenat on November 17, 2024, 02:19:09 AM

Quote from: OgNasty on November 17, 2024, 02:14:06 AM

Is this confirmed by Stake?

Yes, if it’s on their website, it’s a legitimate source. Here’s the most specific information I found about the Level 2 mandatory verification:

Quote

2. What happens if I miss the 3-month deadline for verification?
If you don’t complete Level 2 verification by 31st December 2024, your account will switch to withdraw only mode. This means you won't be able to deposit or place bets but can still withdraw your funds and claim bonuses. However, as soon as you complete Level 2 verification, you’ll be able to deposit and place bets again.

Full information regarding that can be read here https://help.stake.com/en/articles/10056332-level-2-verification-common-questions

Topic: Stake requires its users to verify their accounts to Level 2-deadline 01.01.2025 (Read 482 times)