Topic: The Rise of Crypto Gambling: What You Need to Know - page 3. (Read 1293 times)

In my case, I also started playing in casinos because of cryptocurrencies and I confess that it was a good experience because a few years ago here in my country there were few sports betting sites and although I saw them every day in the advertisements that appear on TV, I didn't use them. Until years after getting involved with cryptocurrencies, I became curious about sports betting and started placing my sports bets using my cryptocurrencies, I lost in many games but in the end I managed to win a lot and leave with a profit. playing at cyptomos casinos is easy and much more practical than playing at casinos or betting houses in my country because in the case of casinos and betting houses in my country I would have to be constantly

going to do kyc at the payment processor company's office, because they track transactions, they set a certain limit on the movement of money that when exceeded the person must do kyc again, it's something very annoying that I want to avoid, that's why I choose to play more in crypto casinos because I do kyc and play with small amounts of money and I don't have headaches.

I really agree with that, everyone will be happy to do KYC if there is a request according to the gambling site's procedures, regarding the increase from day to day it is a technological advancement that continues to be presented every year so it is not surprising that gambling uses currency. Crypto has been widely used in various developed countries, so it is a promising thing for the long term aspect because it makes it easier for all groups to play without having to play physical gambling, while doing this to avoid account misuse then it is legal in my opinion to prevent this. This is because it is in the interests of the gambling site to safeguard everyone's assets.

Well, one thing that is very sure and also very clear to see is that, cryptocurrency gambling have made gambling alot of easier, fun and accessible to alot of persons out there, since it has become practically easier and faster to deposit and withdraw from casinos through crypto currency, and like the op mentioned, some of our personal data is safe with us when we choose to make crypto our only means of depositing and withdrawing from gambling casinos, Personal datas like our credit card details, bank account details and some other of our financial data we use for transacting with the banks and other financial institutions.

For me, if not for cryptocurrency, I would not have been a gambler, because existed way before crypto came on board, and I've never gambled until I discovered crypto, got into it, starts saving in crypto, and when I discovered that it was possible to gamble and place bets using crypto on online casinos, I decided to try with small amount, and that was how I started gambling from time to time, crypto have indeed, opened doors to many financial innovations, and I the development it has brought to the online gambling industry.

You are correct. The future of online crypto casinos is affected by the blockchain technology, that permits online crypto casinos to take advantage of features that are not obtainable in non crypto casinos - crypto casinos provide improved restrictions, better means of security  and have a more rapid withdrawals.

Now I began to adhere to the following opinion: When it comes to gambling using cryptocurrencies, then KYC verification is definitely evil and a bad solution to the issue.  If the game is with cryptocurrency payments, then you need to maintain a certain level of anonymity.  

But now, after all, an intermediate identification option has appeared and users of WorldCoin wallets are already using it.  In Japan, for example, two days ago there was even a queue of those wishing to receive some of these coins (about $50 at the current exchange rate).  For identification, it was simply necessary to scan the iris of the eyes and that's it.  The recipient of the coins already had his own wallet with these coins after that.  The whole process takes only 8 seconds.
 In my opinion, this identification method is very well suited for use in the cryptocurrency gambling industry and unequivocally guarantees confirmation of the deposit owner if he was registered in such a biometric way.  At the same time, it is not at all necessary to go through KYC in its classical sense, that is, indicating the name, surname, other passport data, and even more so sending all kinds of photographs of the face or even video.  
I don’t know which cryptocurrency casino will be the first to master this method of identification, but I hope such casinos will start to appear more and more.

There might be some options available right now for gamblers to gamble without completing KYC verification, but there won't be any in the future, so it's better if people start getting used to the habit of completing KYC verification at trusted platforms so that they don't have issues doing it in the future. Regulations have been catching every single platform lately, authorities are even eyeing decentralized platforms to be regulated in the future, so there won't be any left.

As you said, one shouldn't really have any issues doing KYC verification at a platform that is trusted and they know it wouldn't misuse their personal information and documents, and it's better to avoid new and untrustworthy platforms if they are asking for KYC verification, if they don't ask for it, one might try them out.

Gambling with cryptocurrency has many advantages over gambling with fiat currency. It is of the highest interest among gamblers especially for quick payouts. However in both ways a gambler has to make KYC. I don't need to worry about KYC in the best gambling platforms. Because they provide good service for which their site has high reputation. KYC is an important factor in any gambling or casino platform, online or offline. There is no option of gambling by ignoring it.

The time has come for KYC verification to become an obligation for crypto users, especially for crypto casinos which used to be very free and did not need to apply any KYC to their users. With the interference from regulators in almost all businesses, crypto users cannot be anonymous users who can hide behind the scenes in making transactions. And all of this may be influenced by people who used to use fiat for illegal activities. They are starting or already using crypto to carry out their illegal activities. And this is what makes regulators need to ask casinos or other businesses to implement KYC on their members.

Beginners still register at shady casinos, where they find obscure advertisements from sites. Hence, many of them are still exposed to many problems ranging from withdrawal problems, KYC, or bonuses and others. They can't find a casino that can provide comfort for them, so they choose a casino randomly, making many of them experience problems.

If they can visit this forum and look in the gambling section, they can find lots of recommendations that many members have given so this will save them from other problems. And they can also play gambling in peace and can enjoy it well. A trusted casino must be able to take good care of the personal documents of each member because if not, it will affect the reputation that has been built for a long time.

As long as they don't deposit large amounts of money, especially for new people joining, I don't think they will be asked to do KYC. But what happened was that some people immediately deposited large sums of money and played and got big wins, causing suspicion from the casinos about who they were. This is what makes the casinos ask them to do KYC to find out who they really are but most of them complain that this is unfair or the casinos are cheating them. Some people consistently only deposit small amounts of money to gamble and withdraw their money within acceptable limits. And they are still fine playing at that trusted casino and haven't done KYC. But I think it's time for casinos to implement KYC for all their members fully.

KYC is not a hindrance in the growth of crypto gambling as people are ready to do KYC in return for doing crypto gambling. The advantages of crypto online gambling are more than fiat gambling. So that is the reason that online gambling is increasing day by day as more people are leaving physical gambling or gambling through fiat money and moving towards gambling through cryptocurrencies.

KYC cannot be avoided in online gambling or offline gambling, so I don't think we have a choice of gambling without KYC.

Ops need to u understand what it means for a casino to be open source or 100% decentralized since most of the Web 3 casinos that proclaim decentralization are all not truly decentralized and that is something you need to know because not for it to be on paper but also in practice and most of the web3 or so-called open source casino are not so in practice,  so ops bee to understand that fact and settle with that fact.

So ops need not to take your point as an attack and if he feels that way, then he needs to build a thick skin to be able to accommodate criticisms.

There is something about completing kyc in online platforms. Many people do not even attempt to complete kyc for reasons best known to them. Maybe this set of people are over private that they would want to live their privacy life to 100%
But I want to counter the notion that your kyc on reputable gambling sites is safe

Well, if you have completed KYC with any company no matter how reputable they are, your data is no longer safe. They themselves may not use it for any purpose without your consent. But in the case of hack or any other thing your data is exposed.

We know all this.
That's what attracts crypto, especially Bitcoin, since crypto was launched in 2009, that's when a lot of people thought what it was, how to do all that, but as time went on, we finally all know as it is now, this is how Bitcoin actually works.

So it's no wonder, many gambling sites used to use fiat, now they are competing to use crypto features and there has been a great revival in the gambling industry, they realize crypto has fans around the world and is used in all countries, we are all aware that crypto has a role and a big rise from the online gambling industry, easy and safe to gamble.

it's not just a withdrawal problem that might make us have to do KYC. Regarding account activity, we can also highlight it if it is indicated as suspicious. some gamblers may engage in illegal activities for their gambling, such as using multiple accounts for profit.
I personally have no problem gambling with casinos that ask for KYC. as long as we do everything right. I'm sure there won't be any problems. I know, some people like to remain anonymous. but everything is a choice.

But even so you can still gamble without the obligation to do KYC, with the limits set by the casino itself, so in my opinion it's not a problem if you want to maintain your personal identity by not doing KYC, you only need to deposit and withdraw below the limit. But yes, when you get big profits with small capital, of course you also need to do KYC if you want to withdraw the winnings you get in your gambling.

KYC cannot be avoided even though it is contrary to the wishes of anonymity because the average gambling platform has implemented it, except maybe a gambling platform that does not have a license, that is possible, but it is not safe for you to gamble.

And it seems that this policy is indeed based on the rise of gambling activities that are misused, and including gambling using crypto which is experiencing increasing adoption.

The people that are not easily willing to complete KYC verification at casinos when demanded are going to have nowhere to go for their gambling activities in the near future because there will be strict regulations then, and someone who doesn't complete their verification on time would simply not be allowed to use a platform, gambling is a very far thing, so people need to start getting used to this system because it is most likely here to stay.

While most of us believe that a casino that operates under a license tends to be more safe and secure for us and our assets, this small group of people think that a casino that has a license and asks for KYC verification is going against their privacy, like they are the only ones being asked for it.

I think lately do people get to identify that we can actually gambles without going through kyc when we make a decision to choose the gambling platform that requires no use of kyc, it's unbelievable that some don't even know, but the good about this is that you can search through whatever thing you want and get them as long as you can give it that search needed, what we don't seek after we may not find and same does happen in gambling too, there are platforms that gives zero tolerance on KYC only if we could give out the demands for searching through one.

Most beginners are reluctant to ask questions and find out which casinos have a good reputation and high trust, so they are easily tempted by the promotions offered by some shady casinos.
With this forum in the gambling section, there are already lots of threads that have topics about trusted casinos with good reputations, making it easier for beginners to understand which casinos can be relied upon or should be avoided.

There are already many casinos that have established KYC, so we only have to choose which one is the most trusted and can maintain the security of our personal documents.
After all, I'm sure that every big casino has their own way of keeping their customers' data secure.

Indeed, verification by the KYC procedure is increasingly penetrating into the field of casinos and gambling using cryptocurrencies.
Of course, this fundamentally violates the very principle of anonymity of payments in cryptocurrencies. 
On the other hand, the KYC procedure itself is gradually becoming obsolete because other verification methods are being used more and more.  Even in the field of cryptocurrencies, new technology startups focused on personal identification are emerging.  Identification of a person is possible both with the clarification of a specific name, surname and address, as well as simple identification by fingerprints and the iris of the eyes.  In the second case, it would be quite possible to use it in a casino, where all players would like to remain at least partially anonymous and not disclose their specific first and last names. 
But at the same time, the casino would know for sure that the player is the person who originally registered with the casino.  It seems to me that for the future of the entire cryptocurrency gambling industry, this would be a good solution to the problem of KYC and the ability for the player to remain anonymous.  Because it is important for many players for various reasons.

With the current development in the gambling casinos, where even freebitco, one of the longest running bitcoin casino that have never required customers to pass kyc verification, if a casino as this can now turn to include in their terms that there is a possibility that they may ask their customer for kyc verification, that should tell you that there is a regulatory pressure on casinos right now, and casinos that are still not requiring kyc from customers either will just vanish with customers funds in the future after they have collected enough, or like every other casinos, they will still turn around to request kyc from their customers.


I think we have arrived a point where gamblers shouldnt be running from kyc anymore.

But unfortunately, many beginners still choose the wrong casino so they are trapped in a scam casino and instead lose their money so that when they win, they will not be able to withdraw the money. And for casinos that ask them to do KYC, they always have to choose the casino so that they don't have to worry about bad things that might arise when they submit the documents.

And when they ask for advice from members on this forum who have years of experience in gambling, they will not choose the wrong casino and will not play gambling in casinos that require members to do KYC. And with the current development of the gambling industry, they have to be really careful in choosing a casino because many new casinos have been launched. Only a few can become trusted casinos.