Topic: The fear of KYC requirements (Read 542 times)

It actually falls down on someones acceptance and just like you do said that there are people who are really that mindful about their private things but there are ones who dont really care at all.
Its true that there's something that you should be afraid off if you arent really tending to hide something or dont worry about things because you have done nothing.If you are someone who does
really have lots of issues and past problems which would really be attached on legal things then you would really be that seeing these KYC would really be a dangerous thing for you.
This is why we do have several options and places which we could choose from.

Indeed, the casinos with good reputation don't make crazy promises, but still have good enough promotions and that combination does the job.

About promos... there's an ugly catch (or more).
[1] Free money tends to need gambled more before getting withdrawn (and some don't read the rules and blame the casinos).
[2] Free money also attracts scammers who try to trick this and that in order to withdraw that free money (and when caught and banned they blame the casino).
For a new casino it's sometimes hard to tell whether they are in trouble (or scamming) or just watch their back and those claiming they've got scammed are from categories [1] or [2].

This being said, reputation is hard to earn and maintain, but a player/customer has to learn how to "read" all the calls of being scammed.

And of course, there's KYC. Some will display KYC requirements and will only ask for that in case of big money or something fishy. Others will hide behind KYC requirements in order to simply don't pay the winnings, where possible. KYC is in theory required by the law. In reality, since all stays in the crypto world, imho the KYC requirements are not needed, or, as yahoo said, they're bullshit.

Many of them actually.

They have limits and it can be seen based on the level of your account and when you reached that limit, you'll have to verify your account through providing kyc.

Not all casinos are like that, the ones that have a great reputation don't just attract players and make crazy promises. They're truthful to their rules and words and that's why they're being swarmed by customers for being like that.

Aside from that, everybody likes promos and that's another reason for customers to flocked in.

Let's just say for an example. You get some money from a stranger. He lets you have it and ask you to grow that by doing some business and as said, you do make some profit where that stranger holds some % of your profit too. That was the deal. So, without knowing who it is and how they look like, are you going to give him the share of your profit?
Let's just say that you did give him that profit's share. What if some other guy came again and say the same thing in order to get that money. What will be the situation?
I think they do it in order to keep them safe and you too. I hate KYC, but in the long run you will understand the necessity of it.
So it is good to have it and that's why you need to choose a reputable platform which can ensure your data is safe.

Did you mean KYC requirement is bad for the gambler? why then you're promoting a casino which also have a KYC rule in the first place? you're supporting a KYC casino!

I'm not against of KYC casino because they need to follow the regulation, the reason why they're have a KYC rule because they're licensed and using a strict gambling provider. Fortunately Freebitco.in is currently the most trusted no KYC casino in this forum, so if you fear about KYC requirement you can gamble on this casino.

What one can advise here is to stay off the KYC casinos if you think you're very conscious of your private life or choose them if you don't mind having the influence of any third party priority override your access to your profile or funds you have on their casinos, but what keeps getting me annoyed is why  have only fewer gamblers who understands the need for them to go for their privacy while others ever mind at all.

Mobile phone verification is okay with just anyone. Besides, we've got throw away numbers and you could as well get some of this virtual numbers for the purpose. That's why, it comes with less reliability and casinos, sportsbookies and many platforms out there don't really rely on the way. In fact, they see it as another means for an ensure your not a robot test.
When it comes to document verification, that's a whole lot of a different story as, you could have just one of those all through life and having it presented in any propaganda could be damaging to an individual's image in his locality and the world at large.  Hence, it calls for great Carr and trust before enrolling in any platform.

Also not a single person here barely talks about the kind of KYC they fear to pass. Verifying a mobile number is much different from sending two sides of ID and a picture of holding it. I would not mind to pass mobile phone verification, as usually it is asked to do only once, and there are different options how to do it (use own mobile, get an SMS code via online sim services, buy additional sim. I can do it in my country almost in every cigarette shop without deanonymization (but in Russia for example, you need to give your passport to buy a sim card (or buy a shady sim, that will live for X days only)).

I would not do complete KYC, I would not get involved into buying someone else docs just to pass KYC, but mobile phone verification is ok with me.

Good catch there. Most gamblers don't mind if they win low amount of money. They see it as source money to keep on gambling. Most gamblers are very hard to satisfy with wins as well. I believe they don't care about KYC check because amount they keep gambling (winning or losing, doesn't matter) stays in similar levels. But noone, literally noone in the world would mind completing kyc after they learn they win million dollars at once.

Will the fear of KYC disappear if a person wins a jackpot and would be obliged to pass KYC? What do you think, is there a parallel between fear and the amount won? As long as a person wins 10 bucks, he laughs at casinos request to pass KYC, skip it and move to other casino. But what if a person wins a million? 100% the casino would ask for KYC. Will you agree to pass KYC if you win a million? I believe that casinos must ask for a KYC if a person wins big, because they need to report that to authorities, to prevent from accusation of a money laundering.

Online casinos must follow the law in order to obtain a license to operate and in order to be considered legitimate. But it is a dream of every online casino to make it easier for their customers. Sadly, however, not all of them are able to put it into action. With some restrictions, some online casinos can serve customers without requiring KYC. However, withdrawing a large sum of money will undoubtedly necessitate a KYC at an online casino or risk its license to get revoked. KYC is becoming increasingly common, not just in online casinos, due to illegal money laundering from drug trafficking, terrorist financing, and other illegal businesses.

I am not sure if this is still the case, but in the past it was definitely common for many online casinos to only require KYC for large withdrawals. Which was a good compromise in my opinion for all the people who don't like KYC, they can stick to small size gambling and only will be forced into KYC once they make it their main casino and add a larger balance. In the past I never had a problem with KYC as long as the casino keeps my personal data private. In my country I always have to show my ID when visiting a physical casino because I look so young, which is kind of annoying but I got used to it over the years. If KYC adds another layer of security for the gambler than I don't see a big problem with it.

there are some casino mate that has no policy about KYC , i just forgot which are which but there are some that does not implement KYC at all mate.
gambling site is a business , and of course they will do everything just to lure people so even if they promise or not? it is our  obligation to find one legit and will allow us to play and trust .

Well, first of all, on the contrary, the absence of mandatory KYC should alert the user and force him to conduct additional research on a platform that does not require KYC, although of course there is a gambling platform that has such a requirement.
Of course, the presence of mandatory KYC scares users, but on the other hand, it allows online casinos to meet the requirements for obtaining a license, no gambling institution will receive a license if it does not have a user verification requirement.

With the current popularity of crypto, the government is trying to control it because they don't seem to like crypto being one of the choices for people to make payments.
And they started controlling the service provider to people by asking them to KYC their users.
Even though we as crypto users, don't agree with it, we have to obey the rules and it looks like in the future, KYC will become a must for users who want to use crypto.
So we shouldn't be surprised by third party requests for users to ask them to do KYC.

that was the whole point of crypto, it was supposed to make us anonymous, without any info provided, but things are getting different now and everything in crypto is slowly getting KYC'D, Casinos online with crypto should not require KYC, it should be as simple as that, but governments are controlling crypto very subtle and slowly

As centralization is now slowly hitting other crypto-related services such as gambling, we can expect that KYC might be a necessary thing now in the future.

I really don't mind that stuff as long as I'm complying with it in a reputable casino and I'm really active doing it.

Outside crypto, I also currently playing with fiat online casinos and KYC is a usual thing there. I just become used to it that's why it's not a big deal for me.

Most of platforms now share up with the same terms and conditions with some slight changes of their own.If you are really in doubt on submitting id's or verification on different places then it would really be that ideal
or recommendable for you to stick into one place which you do seem the best of the best of your choice, but of course there are instances or moments which you do see or look interesting and this is why
you do tend to test out something and if ever it do ask out for some kyc then you would definitely be complying it because you are really that eager to play.

and the problem is, they already have your docs even if you are not playing anymore on them. this is why, it is really important to choose which casinos or bookies we need to play, so we can limit our exposure of kyc docs. check also their ToS or license. if they have no license, wonder why they will be asking kyc from customers? also, don't forget to read their ToS regarding KYC reqmts, because if they state that they will require kyc at any time they deem necessary, then, expect that they will do require such docs.

I have tried to deposit into a known casino from the forum (not stake) and then tried to withdraw after playing there a few times. They're strict with their ruling and required me to do a KYC. I do get the reason why they're doing that and it just caught me by surprised because that's not what they intend to market and advertisement. It was really a different experience for me but I have to comply so that I can withdraw my money after the compliance, they allowed my cashout but I have never used them again because of that experience that I got from them. That's why those casinos that are truthful to their promises about being nonkyc as long as the withdrawals aren't that much and you've got no red flag from the casino's system upon withdrawal, that's what most casinos should try to copy.

These kind of KYC triggers were common with the exchanges and am surprised that this has come to gambling which really looks like a term that can be used to scam it's customers when they try to withdraw their funds when the time comes to get funds out and am hoping it doesn't end at denials of these requests.

The fact that you can't chargeback when it comes to crypto, any KYC regardless of amount really paints a bad picture and derails the trust in these services, honestly if its KYC they want they better say it from the on set not having it partly!

I wonder which casino has such terms,hope they aren't popular too..

I think Stake is different in the case. I am not sure it still there or not but long ago there was a discussion where it was clear that before making any deposit Stake ask for KYC verification. It obviously filter a lot of possible abuse in the first place. Big casinos can afford that but for a casino which is raising and still working on their name, is difficult.

You wouldnt really be shocked if you do find yourself on reading up terms and conditions since on the time that you had made out some registration on a particular gambling site which it is mostly be stated
on their TOS but majority of us do really missed out on reading one.This is why you should really have the time and effort on reading up at least on what stated there on which you wouldnt really be shocked
on the time that they would be asking for some verification specially on the time you do hit up some big amounts or simply you had violated something which it is really that very
common for them to ask out.

I think I already saw a few of them. It was written on their ann threads and not on their website but it will be better if they include it on there as well since not all people are visiting bitcointalk. I agree that other casinos must follow this because it can give us a confidence that we won't be ask for a KYC if we are against with it but as long as we are only playing on the given limit.

This rule must also exist on older casino and not just on a new one because there are new players that will try to sign up on them. When it comes to gaining a costumers trust, there are still other things that a casino might show or add like showing their proof of funds, being active in their community, have an active promotions and so on.

That's true mate. Unfortunately, these things are not that new to hear anymore and not that surprising. What's surprising to me is the fact that there are still a lot of people who are taking the bait just because they see a too good to be true advertisements from these kinds of sites who are saying that they are not requiring any KYC to their present and future clients but when it comes to withdrawal, they suddenly let their guards up and ask the clients KYC.

To me, the risks are the same because we don't really know these sites if whether they are safe or not. But to be sure, it's still best to gather some research first just to be safe and make sure that you are looking forward to be a client of a reputable site, and not some fake ads.

Many casino sites or online gambling do not require KYC. Most don't even require KYC. However, they still apply a minimum withdrawal amount, this is due to the amount of gas costs that must be incurred when making withdrawals.
KYC is not that important to them, because each withdrawal requires a confirmation email or SMS notification. So that it is impossible for someone to withdraw without confirming an email.

That should be the case but the government wanted to control everything.  Under the disguise of anti money laundering law, they wanted to track peoples' financial activities especially in a platform where money laundering can easily be done like crypto casinos.

I think we have to accept the fact that playing in a licensed or regulated casino, we need to provide KYC documentation in order to access the platform smoothly if they wanted us to verify our account.  It is either to avoid to follow their requirements.  After all we are not forced to play in their platform but rather we are the one who wanted to.

People may have different views about KYC, but one thing is for sure, if you want to gamble more safe and secured, then chose those reputable casinos that have been in the service for years. If you don’t want to go through KYC, then chose where to gamble. In the end, gamblers will be left with no choice but to submit KYC details because those casinos who have no license will no longer be allow to operate, unless if they do it illegally, which will also put the gamblers at a very dangerous situation.

Government regulations are the main reason why most online casinos require KYC. These casino firms are mandated to implement these policies to curb money laundering and fraud. I am sure every reputable casino will clearly state its terms of operation so that clients will know what they are to expect. Gamblers should also read these terms of service carefully because ignorance is not an excuse. Clicking on the agree button without reading the terms means you have accepted all the casino's rules.

Indeed , we will be just afraid only if the website is not reliable or we did not really know the website we are accessing that's why in my case I only make KYC in websites that I used to play with and also by my close friends referrals. I am not against to those new gambling or casino website online but we all want and need assurance that our identity is safe.

Yes, boss.
-The fact is that most casinos don't declare that term in withdrawal openly but we should know that most of them have a minimum of $2000-$5000 with no KYC.

-That is to say that, any withdrawal below the above-stated amount doesn't require KYC verification, but any amount above that amount will have to go through KYC verifications.

I have to agree with this. KYC will never be an issue for those who understand the real importance of KYC verification but for those who only sees as a requirement alone rather than its importance, they will always have to say negative about it. Wait until these people will experience some errors in their deposits and quickly lost their funds, I don’t think they still have to question KYC when it’s the only way they can retrieve their funds.

i agree with you.
not everything in gambling has to be shown at the start and sometimes it has to be hidden so that new customers who want to try the casino site are not afraid to make a deposit.

some people may disagree with this issue, but it has become part of the casino's strategy to get more customers to register and make deposits on the site.

What I know is that some casinos conceal the withdrawal aspect and they don't make it open to the public at the point of registration and when you have made profit to withdraw then you realize the limit to withdraw without KYC and limit with KYC. This I think should be explicitly stated so that bettors will have an idea what they are registering on.

Doing KYC and documentation on any web platform is bad because you don't know who is dealing with your details. What people don't realize is that they can profile you at any time, the government can demand it whenever they feel like it, and your documents could be sold on the dark web to people who are into bad things. This is the disadvantage of KYC and how it may affect people who do it.

The issue here is regulation, even if casinos don't recognize it, and what do you do as a business entity when you don't obey rules, they will sue your company and ask you to pay for damages, so I don't always blame the casino companies, the financial regulators are always on their neck with KYC implementation.

It's like the unwritten rules of a casino that maybe we won't find clearly from the requirements in the list of terms and conditions from the casino. But we can try to find out by asking directly through customer service to get the answer.

The casino should provide clearer information regarding KYC requirements before or after or even what the limits are on the amount of money that can be withdrawn by a free member who does not require KYC. It can also give confidence to its members not to try to exceed the limit on the amount of money we can withdraw from the casino without doing KYC.

I have seen it as well, and I think it's some new casino, but I can remember which one exactly and where I saw it, KYC for deposits/withdrawals over 2 BTC...

KYC shouldn't be an issue for fair players. I personally don't like it, and I avoid it whenever I can (whatever service it is) but if I have to pass it in order to use some service I really like, or I have some money stuck and KYC is a requirement, I will simply verify myself.

We can talk about rules, but rules can be bent for any reason and services usually reserve the right to do that in some "special cases"... small letters are the ones that are f. us.

yes, I've seen casinos that have this kind of rule on their ToS before(but I can't remember which ones). but before someone go and try out a casino with this rule, they should also know and put it in their mind that the casino can still ask you for your KYC even if you haven't reached X withdrawal amount.

They wouldn't because if you're also a businessman and want a customer patronage you wouldn't have wanted to do something that may scare them away from patronizing you, if you see a KYC casino you should be able to identify one, only few casinos are not KYC required casinos and there's nothing you can do to avoid them from demanding for KYC information than choosing another that does not require such.

We are always hesitant to give our KYC because obviously it's our personal info and we don't want anyone, not even gambling casino to have it. But it is starting to be the norm now, so we must be very careful on what casino's we trust.

Fortunately, I haven't been in the situation wherein I have to submit my info to crypto base casinos,

Maybe I'm not just a big player or I'm just playing minimum though. But for those who have experience, yeah it really sucks when suddenly they are going to ask for those kind of personal information just to withdraw your winnings.

Your assertion is absolutely spot-on that KYC has its advantages and disadvantages. However, it really makes me ponder, is KYC merely a fancy word for "prying into people's confidential information"? I mean, how can we be certain that the gambling establishments won't exploit our information? Perhaps they're stealthily accumulating a database of their customers to take control of the planet! Alright, maybe that's a tad too extreme, but you catch my drift. Honestly speaking, I do believe KYC is necessary to combat money laundering, but we must also be vigilant about the handling of our data.

as far as I know there are some casinos that write "No KYC" and some that write KYC required, there aren't many but it should be written down so that people who don't like KYC can stay away from casino sites that require KYC, especially for new gamblers who might don't understand that as long as they join without having to read the terms and conditions of the casino whereas old gamblers usually know which casino sites require KYC or not.

Many gamblers prefer to gamble in platforms without kyc but nowadays it became a normal thing if the casino has this requirement. This is to abide the law to operate legally.

Moreover, it's better for the casino to he honest rather than lie about their kyc then will ask the players suddenly if they reach a certain limit to withdraw because it can affect their platform negatively. As i've said before, we can always choose where to gamble so if you don't like casino with kyc then stay away and look for another.

They're not gonna display it on their homepage as a potential client may not going to proceed in using their online gambling service because of the KYC. So they are usually found after you have registered, some even popped up when you have a specific amount in your account and they're preventing you from withdrawing your money unless you comply with the KYC.
That's how dirty some online casinos are.
And yeah I agree with the OP that online casinos should put KYC requirements in their homepage to make their clients aware of what's in it for them with complying with the KYC.

I think I can agree with people saying in this thread that its dangerous to not use ID if your account grows. But there are too much risk involved. I wouldn't want someone other to steal any data/information about me. Of course better gambling websites can combat hacking issues but some others can leak kyc data... So this topic is little grey for me. I dislike kyc a lot, but risks are two sided to to support one side or other.

KYC has two faces to protect the casino from money launderers and from cheaters and stealing from players who won a big amount of money with questionable status, legit casinos implement the former, and scam casinos do the latter, so it all goes down on the kind of casino you're playing, majority of us don't want KYC but its a necessary evil and I guess it will stay on until there's a better option for legit casinos to check their players.

Such a platform with no kyc will have own audience. There are many people who do not want to share KYC with platforms and thus they will prefer to play on these casino websites. But we should also think from the casino operation level. Many countries have laws which require KYC for them to operate. Thus they cannot skip this part. There are many reputed casino websites which take KYC but still have lots of registered users. This is because they have trust of users that they will not misuse the data in KYC ever.

I am always hesitant to give kyc and if any platform is not clear-cut about kyc requirement I avoid it without a single second thought. This also one of reason I stick to on-chain casinos, no funds stuck, no reason for kyc.

The opposite is true. Years ago KYC was not common at all, and little by little it has been introduced by almost all casinos. I think it is more because of international pressure than willingly, otherwise they would have been accused of favouring money laundering. When they apply for a licence they have to put some KYC measure in their ToS, otherwise they are not going to be approved, even if the licence is from Curaçao and often for show.

Another thing is, as has been mentioned, that some casinos do not ask for KYC documents until the player has won a good amount and plans to withdraw, which does not give a good impression.

Casinos do something like that because amount matters. If you are an ordinary gambler playing minimum bets occasionally, why would the casino implement a stricter policy on you? Are you are possible suspect of money laundering or terrorist financing? Of course not.

But if you are a high end roller depositing millions, betting millions, and withdrawing millions, then you should be asked for personal information. You are the kind of gambler that is more likely to be involved in activities that KYC is primarily designed to counter.

Casinos use terms like that because not all players will be involved in gambling using big money, casinos expect to get a high roller but also they will not ignore small players, so they seem to apply rules that contradict one another, but that's all casinos apply definitely based on the license from their gambling site, if casinos can continue to operate without having to comply with the rules for asking KYC from players they will definitely prefer without requiring KYC, because with KYC obligations they have to do other work such as saving KYC data properly or the time they have need to check KYC whether genuine or fake also means needing a source for it.

There is one positive that comes from KYC on casinos. It stops people from gambling. Otherwise, it is totally wrong. Unless there is indisputable proof that funds have come from illicit sources, people should not have to sacrifice their privacy or identity just to be able to gamble. I would love to say that there is hope that one day KYC will just disappear. I believe that this is not the case.

Also, it should be noted that if all casinos decided to drop KYC, I do not think it would jeopardize their license at all. If anything, casinos use KYC to make more money than to actually vet deposits/withdrawals.

KYC has been a major issue in online casinos ever since licensing came into place and one thing you should know is that everything in life has it's positive and negative effects and KYC isn't exempted in this case as I believe KYC was initially introduced into gambling as a way to check the excesses of the casino on gamblers and also to help fight money laundering through casinos and that was why wagering equivalent of the initial deposit came into practice.
Most times I see alot of gamblers shying away from KYC and I believe it's as a result of wanting to stay anonymous especially when gambling with crypto but I personally don't have any issues with doing kyc provided it's a reputable casino.

This happens because a few casinos act in bad faith.
I never needed to withdraw large amounts from a casino, in fact I don't remember when was the last time I withdraw something from a casino, as I usually spend everything I deposit.
Anyway, what happens in some cases is that the T&C deceives users by saying that they do not require KYC, but they say that the casino can adopt security measures when it detects suspicious activities or that deviate from the standard, which involves the request and sending of documents user evidence, that is... carry out the KYC, but in "other words"

As much as it is essential to read and understand the T&C, I myself have never been able to fully understand them on the sites I frequent, either because they are extensive or because they have too much technical language.

The best solution is to always bet on reliable and reputable casinos, so that when the need arises you can have adequate user support or come and complain here at BitcoinTalk.

Companies are more worried about their services being forcefully shut down, so they're actually rather indifferent to your fears. After all, "privacy is important" gamblers are slowly becoming a minority as more conventional gamblers arrive for the broader gambling experience. But the concern will remain for those who are dealing with a foreign casino for the first time, maybe they will do KYC in the first place to get legal guarantees. Casinos will be fine when KYC policies will be welcomed for most customers.

Didn't you know that in online fiat gambling sites, KYC is just a common thing?

The KYC thing is an issue here in crypto-gambling but not in fiat online gambling.

Since most here are crypto-gamblers, expect that KYC is a sh*t requirement for them. But for me, if the site we are talking to is somehow reputable, I don't mind complying with KYC, only if necessary to do so.

Yes, I've seen some casinos doing false marketing first that they don't need your KYC at all, then at some point, they start asking for KYC. That's either because they are suspicious of an account doing something wrong to gain more from their bonuses or doing inverse bets on 2 or more accounts (having 2 or more accounts on a casino is strictly prohibited IIRC), or they do it because they don't want to pay the player his winnings as they are very huge in number. These practices aren't new in the gambling industry.

Because sometimes you would need to kyc some accounts that have potentially created multiple accounts so that they can withdraw that $**** multiple times and prevent them use it as a loophole. Things wouldn't be that simple, or that you suddenly accidentally used ip from your home country that's under sanctions. You would also need to prove that you are not from that country.

If it would be only matter of how much can be withdrawed from casino no questions asked your question would be valid but it's more complex than that.

That's the straight-up truth, Ruth.  I don't know how many threads I've seen in which the exact scenario you described came true for some unlucky winner.  And the sad fact is that it isn't just casinos, either.  Exchanges have been known to do likewise; they just bury the KYC terms deep in their ToS so people think they're dealing with a non-KYC exchange....until you try to withdraw a large amount of crypto, and then they start asking for your photo ID and all that shit.

I didn't even think there were any online casinos that could get away with no KYC measures, regardless of what country they operate out of.  If there are, there can't be that many and if there are a lot, that number is sure to drop off a cliff once regulators start doing their thing.

KYC is used as a shenanigan in most cases anyway. Most of the casinos aren't doing it for reasons to comply with AML and KYC regulations (if they follow any regulations at all...).

Whether they do or don't display that message on their website might as well be a strategic thing just in case. I think so far I have never seen a casino that explicitly says on their website to not ask for KYC data. If I were operating a casino I wouldn't put it out there in public. I'd rather say on the website that I do ask for KYC and then just not conduct it and people will get to know by word of mouth. I guess it is even more likely for casinos to get into trouble when they refuse to collect data that they would actually have to collect according to the law and regulations.

But as has been said here already, you are good to go for as long as you lose anyway. As soon as you win big it is more likely you are going to run into trouble with KYC. That is the sneaky part because people who don't want to undergo KYC also might not want to undergo KYC even after a big win and that is what the casinos know as well. There is a reason for people to avoid casinos known for collecting KYC data. Once they win big, the casino just takes it to the limit and keeps asking for data until some players are even willing to forego their winnings and just leave it.

There are some casinos out there that uses their "no KYC requirements" adverts as a leverage to gain more users who are looking to play in a casino that doesn't ask for these things. There are still a lot of them out there up until now, though dealing with these casinos can be pretty tricky given that most of them ends up being a scam site. There aren't a lot of legitimate casinos left with no KYC requirements nowadays, because most have transitioned to no KYC upon registration, but upon winning X amount you'll be required to submit them.

We have tons of no kyc casinos around and infact yoh can withdraw a large amounts from most casinos without being asked for KYC verification, this is so because popular casinos like stake.com allow players to withdraws hundred to thousands of dollars in cryptocurrency without KYC.

.

I can easily trust a casino that right away stated in their TOS that they are doing KYC to protect their platform from becoming a money laundering venue and to verify that the player is not violating their rules when it comes to multi-accounting.
No KYC gambling site is suspect and questionable how would they protect themselves from multi-accounting and from people using their platform for money laundering, if they have other means and methods then not asking KYC is not an option but so far doing KYC is the only available option.

True, that's one way to attract new users to their platform, put the magic word, "No KYC", but then when the users won big money and wanted to withdraw that's when some casinos stop them by asking personal documents and go thru KYC. And that's where all the accusations started because of this. So still up to us to be very careful specially new casinos popping up regarding KYC and withdrawals rules.


I guess KYC seems to be mandatory right now. Gone are the days wherein you just need a bitcoin address for withdrawal and then you are all set. So it's either we adapt or guess be selective of casinos that we are going to play as not to get trap by this whole KYC when we won.

A kyc-required casino is a normal thing now, as it operates as a registered business that follow casino regulations and AML laws. The only different is the approach of requiring its users for kyc. Some asks upon registration, some ask when you withdraw any amount, and some ask when you withdraw a large amount say $1k above.
Well, i always use a casino that ask the latter ^{(ask kyc when withdrawing large amount)} or not at all.

It is not, kyc doesn't mean security by any means, it won't protect you from hack, scam or it wont protect you towards the casino for handling a selective scamming for some. Stop assuming kyc is equal to security or what.

It will be my first time hearing this one, all of the casino website I know requires KYC, if not maybe you should stay away from it? It is very unusual that they don't need to kyc their member not unless it is a new website casino and they will start to accept few numbers of people that will not be required. KYC is a good thing, it will give us security in our part and I do believe that they will not accept it somewhere.

This is a great idea I must admit, but unfortunately, I don't think any casino would want to make their stand on kyc generally public since it's already in their terms and conditions, but then again, the issue is that most gamblers don't read before really commiting themselves to gambling on any casino, don't be surprised that, after casino makes their stand on kyc public with all the details, some people will still not read it, and will still go on to break rules that govern the casino he or she is playing on..

You are faced with a catch-22 scenario when it comes to know your customer enforcement. Many of the biggest sites will ask for it, or at least the option to require disclosure of it in their terms, because they are based in jurisdictions that require it from financial regulators. These jurisdictions are actually beneficial to the majority of players because it means that the gambling company is less likely to vanish with their money, commit fraud and be subject to court systems that can be used to enforce laws in the favor of the customer. Whereas sites that operate outside of these jurisdictions are slightly more likely to operate in wild-west territory and may even be more vulnerable to external threats because they cannot use legitimate services in properly policed legal systems.

Every casino has a KYC as part of their operations policy, you might not get to know this as a new users not until you have won a good large sum of money then boom, KYC requirements will be thrown to you as part of the withdrawal process. But in all of this I literally think that KYC is to the advantage of the gambler as identity theft is well reduced through KYC giving you the gambler a level of satisfaction about the security of your account and any money in it.
It's only gamblers with a dirty intent that abhor KYC thereby wanting to use a fake registration to defraud or flaunt the casino's terms of gambling. The underlying issue here is that as an online gambler KYC should be taken into mind as a thing of necessity that every legitimate online casino may require of you presently or in the future as their reputation and security data depends basically on it.

Knowing how the crime syndicates work here in my country, if casinos allowed users to deposit and withdraw a significant amount of money without KYC, let is say between 500$-2000$, they would use this for their own advantage to launder money.

The criminals would offer people to open an account on the casino an launder the minimum amount for them (they would not explicitly say they need to launder money, but rather would offer some excuse or story about why they need to use other's account) in exchange of a small commission, since the economy here is very bad, there would be people willing to do so for 5-10$. The result would be hundreds of thousands of USD laundered.

Some people argue that KYC is requested because it relates to casino regulations and licenses, previously KYC requests were only optional rules that might be needed at any time and now KYC rules have been increased to make it mandatory for all users to have an active account with the withdrawal feature.

Actually it's not too different from an exchange account, but traders and investors don't complain about KYC problems and they have embraced KYC at the most affordable casinos, so why do you hesitate to complete KYC at a trusted casino?

So far, KYC has always been a frightening specter for gamblers in our community. However, most of the leading casinos that we have have KYC features, although each casino has different requirements for their implementation. To be honest, I'm not really aware of the terms and standards related to KYC at every crypto casino we have here. because, I only use 1-2 crypto casinos.

So, I don't mind doing it because the casino I use is a casino that has a reputation that can be trusted. this is a common problem, just like it was originally when exchanges required each user to meet KYC requirements. gradually, KYC will become commonplace for us gamblers. because, every licensed casino requires its customers to meet requirements involving KYC.

KYC, I think, is required due to financial laws. Crypto laws are still not well established in most countries, and especially these problems appear when the deal faces the court, so no proofs of stake belongings, no ways to identify gamblers and/or casino owners... It makes all (not only gambling) online and crypto services create KYC systems. IMHO, however, KYC will poorly protect customers in trials, especially if the trial is gambler vs casino

No licensed casino can make the claim they will never ask for KYC because in the terms of their license it is specified they have to comply with the law and do it, and even if at the beginning they may not like to do this if the casino becomes successful the owners are not going to sacrifice the riches they are getting just to protect one of their users, however what would be interesting is for casinos to tell us exactly at what point KYC will be asked from us, that way we will know for sure they are not just inventing excuses to not pay us what we are owed.

op you have been posting and asking creating a casino company with your friends, how is the project? But the way, from conceptual framework of your topic, I will say, nobody is afraid of KYC but the way the casino companies are doing is making people to be scared to use their sites. They only asked when you win a bet and want to withdraw, and if the KYC process is not successful they would block your account. And that is bad. Because the gambler was hoping to win his bet and now the casino has restricted him of redeeming his win from bets.

Its all just a marketing trick.

In reality, before they give you your winnings, they are obligated by law to make sure that no money-laundering/terrorism sanction laws are broken. They NEED your KYC. This can be avoided for smaller amounts of money withdrawals but they can ask you for KYC for any amount.

In fact, if you read the terms and conditions of these "KYC-free platforms" you will read exactly this truth: There are no KYC-Free platforms (Which are not scams).

Of course if you are gambling with peanuts, it is not worth their time to scan your identity. The law permits this. And its more profitable for the casino to ignore you (time = money).

I remember one day I tried to play at livecasino, and although I was a new player on the platform I deposited 30$ and when I played its slot games I only had 4$ left in my balance and I said to myself that I don't seem to have any luck in playing at that time, and unexpectedly I suddenly got hit and the 4$ I had left became 116$ so I immediately decided to withdraw around 80$. At first I thought maybe there is a kyc needed to submit, but after 2 hours it was confirmed that the winnings I withdrew from the livecasino were transferred, meaning the kyc did not search for me because they saw that I did not violate their policy and rules, although there was no problem. to me if I provide kyc on their website.

The purpose of gambling with cryptocurrency is to remain anonymous. But when KYC is made mandatory there is nothing to do. However, many gambling sites do not make KYC mandatory. If any suspicious behavior persists, KYC becomes mandatory. Moreover, it is mandatory for all casino license holders to do so otherwise they may face legal complications. A lot of gambling sites are being added to the crypto casino platform these days so a gambler will find a platform to suit their needs. However, it is very useful to check out the best platforms before gambling.

I think it comes back to reputation because regardless of anything nowadays reputation is very easy to tarnish especially in KYC issues.
The condition is that if you want to withdraw and always ask for it I think the risk of being accused of fraud is definitely possible so this could be a problem for them and rather than that happening then indeed they make a license or rule for their policy.

But basically I personally still don't expect anything like that because this will only make me leave the site even though it might not be a loss for them but when it comes to KYC in gambling sites I will go from there.

If you are not willing to comply with their requirements, it means, you are letting go of your funds also.
Most are asking KYC owed to their gambling license. However, some are still not requiring it if your deposit or withdrawal amount doesn't reach their max allowable limit.
I believe, if the casino has legit license, expect that they will ask KYC at any point. So you need to prepare for this situation.
However, if the casino has no license but requiring KYC, doubt their motive. High likely that they are scamming their users.

KYC requirements getting normal in crypto casinos.  Since the regulation and license is require for a casino to operate, they need to follow the law and KYC requirement is one of them.  There might be some casinos that does not require KYC for small time gamblers but once a player gambles huge amount of money, they are require KYC to continue.

KYC verification is unavoidable in due time, so I think we should accept the fact that if we want to gamble in a licensed casino we have to undergo KYC verification else, if you have fear of KYC better stop gambling at all, or look for a decentralized casino or worst for an illegally operating casino.  But of course, the latter is the worst choice.

Few days ago I was suggesting betnomi to do something similar. It was about proof of funds.

The casino's wants to keep it in their terms page so that clients do not see something scary in front of them before depositing money. Imagine if a casino is doing it, I believe the deposit ratio will drop dramatically.

A casino that has it's license will ask customers of KYC because they have a monitor body that monitor their activities. Also it is better that I know this casino does KYC than,you say that no KYC and when I have won big,the casino starts asking for KYC,I will just leave my win because they are not transparent enough for me to deal with. I don't see the KYC thing as something terrible because when am having fun with gambling and I win big,I will love to  withdraw my win easily without a delay or problem.

you have to wonder why exchanges ask for KYC even though they are cryptocurrency exchanges. the principle is the same: they are government rules to combat money laundering. casinos handle money from customers, they handle license and the license provider in their TOS probably requires the casino to ask KYC to their customers, of course crypto casinos don't ask all customers to do KYC when they create an account, they ask for KYC when they detect some suspicious activity, at least that's acceptable, although I hate KYC I did KYC at the casino I like and trust, I'm talking about my signature casino

Of course, I only use one casino, and the reason is simple: I don't want to KYC 2, 3, 4 or dozens of casinos. The problem with KYC is that you like bonuses and want to use many casinos, you will be obliged to deliver documents in many casinos and this makes you very exposed. I don't understand how these guys who created KYC didn't create rules that helped people, all they did was put people in danger, when a person gives his address to the casino, that person can start not to sleep well, a criminal can have access to data and go to that person's house to harm him

You can see lots of them but everything will be scam cause for a gambling operator which is under q regulatory body should follow all the guidelines to operate their website so it's not in their hands since it is created by the governments and online casinos are also a part of this centralized system has no other choice.

KYC is not really affecting a common user so the casinos with mandatory KYC even have huge wagering and betting amounts.

This is all about the casino license like Curacao which typically requires casino to have a KYC with their customers as part of Anti Money Laundering policy since many criminals use casino to mixed money. Only casino that is decentralized or doesn’t have e-gaming license offer a no KYC requirements boldly because they doesn’t have any regulators that watching them.

Don’t blame casino for the casino because it’s part of the legal process to operate freely without violating any law in most of the country which there consumer are playing.

they could entice users to it. even the players who just bet below $50 are not risking their documents to casinos. withdrawing a thousand is enough to keep them stay. but is the gaming regulation allowing this?

Some people visit online casinos, just for fun and as entertainment for them, there are also those who really are addicted solely to earn and hope to win.

For various reasons, the majority of users think that KYC requirements are not needed, because it is not only for entertainment that they have to share their original identities, some gamblers don't want to share that, For various reasons, the majority of users think that KYC requirements are not needed, because it is not only for entertainment that they have to share their original identities, some gamblers don't want to share that.

There are many other reasons, which make gambling bettors reluctant to KYC, they are afraid they will not pass and become a serious obstacle for them regarding finances, with how many reasons are logic and experience.

If the casino displays that the user must have KYC at the initial registration/login, I think very few users will want to visit the casino, even when large withdrawals, kyc is required.

Frankly it is an issue if you consider it as an issue. In long run KYC verification is important as you grow your account. Imagine a situation where you have ton of money in it and suddenly there is site crash or let’s say there is hack or something and your money is lost. You can always claim back your funds by show casing validity of your account. Because in above mentioned events things could go south to north quickly and they might start investigating about it. Since you will have your verification done you can prove your identity or in some extreme cases you will be able to file law suit against the casino if they deny the refunds or lost assets. If you don’t wanna get verified then decentralised casinos are there but who knows the validity of same?

It may depend on their license as to whether they are even allowed to display that message. Casinos with a fake license or no license may display that message to try to get users to deposit and then KYC any wd to keep the funds.

To me KYC is bullshit honestly. We make our crypto however we make it. We should be able to spend it however we want.

They will be accused of lying when they actually are asking KYC even when you just withdraw $****.  Casino's reputation will be at risk, you know how reputation can be tainted easily nowadays.

Almost all casinos today ask for KYC. If not they will ask for Phone authentication. I did try withdrawing just $70 worth of TRX from one casino recently and it's allowing me to do it but I have to confirm and enable my phone authentication which I'm also not willing since this is just a casino.

As far as I know, there are casinos here in crypto gambling that announce that they do not have KYC for their future players on their gambling website platform, but when a withdrawal of a large amount comes, other casinos suddenly break or destroy what they first announced, that's why gambler is suddenly making accusations against the casino platform.

     But there are other casinos that immediately say that you need to submit a kyc, which for me is okay because at least they are transparent and don't hide anything from their future clients. And in this style of casino it has a good impact at least I think.

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.