Topic: The Rise of Crypto Gambling: What You Need to Know - page 4. (Read 1293 times)

I admire your trust in the casinos suggested by the community. But that doesnt mean you shouldnt do your homework before working with them anyway. Consider the casino's operational transparency, licensing, and history of managing customer complaints in addition to its position in online forums while making your decision.

That some people don't fully grasp KYC is a valid point. But I feel compelled to add that sniffing out wrongdoing is only part of the story. It's a rule that needs to be followed so that crimes like identity theft and financial fraud don't happen. It has nothing to do with how large or small a gambler you are and is instead a measure taken to maintain trustworthiness and openness in the online gambling system.

Yes, you are right, after all, there are lots of trusted casino recommendations on this forum, of course, from the community, they also always provide recommendations. Beginners should be able to ask about trusted casinos on this forum, because as experienced gamblers, of course, we will also recommend the best ones, so people don't need to worry about KYC because there are several reasons casinos ask for KYC and some don't.

Many people misunderstand about that, sometimes little gamblers are afraid of KYC so they go choose small casino sites and scammers so they lose money, after all what KYC means is for example giving out our identity when the system detects illegal deposits or activities, big wins or big deposits maybe the casino will ask users to complete KYC, besides that everything is safe even I have never been asked to complete KYC because I am a little gambler. withdraw hundreds of dollars without KYC as long as you play honestly at a big and trusted casino.

If people want to play gambling in peace, they really have to be able to choose a trusted casino and even though the casino asks you to do KYC, you don't need to worry because the casino is trusted. For now, the gambling business has become bigger and is developing rapidly, especially for crypto casinos, which have gained popularity since the pandemic yesterday. People who cannot leave their homes are starting to use online casinos, both fiat and crypto but many gamblers are also switching to crypto casinos.

And this KYC problem seems to be starting to change for crypto casinos because several casinos have already started implementing KYC for their members, especially those who win a lot of money or make big money deposits. Crypto casinos have also started to be careful about all the illegal activities that may occur in their casinos so they implement rather strict KYC.

Stick with known and reputable platforms on which it would really be that good if you are really trying out to avoid some headaches or doubt when it comes to that KYC thing or something correlated.
Gambling industry is becoming that much bigger as the years passing by on which it isnt really just that limited on traditional fiat offline and online casinos but now we do already have that crypto online gambling
which it do also generates huge revenue and having that significant numbers in terms of platforms existing and the profits that they are making.

It wont really be that a shocking thing that these platforms would really be going into that legal side of things on which they would really be regulated and would really be that abiding on government rules and
conditions on which it wont really be that new if they would really be going in line with it and would be passing up those requirements into their users which it would really be
leading up having no choice but to comply if ever we had been asked out.

What the hell are you talking about? My reply was neither toxic, nor did I attack you. I simply asked you if you could give some examples, since you said, "There are plenty of crypto casinos that operate on an open blockchain," which I believe is not true. Stop being so overdramatic!


My sincerest apologies, Your Majesty! 

As much as possible it would really be just that wise on making yourself engaging into a certain platform on which it would really be totally not requiring any KYC in the first time you would be playing.Even though
they would really be having those terms on asking out some possible KYC if they have seen or observe something which its still not really that strict when it comes to that.Unless if it would be asking out some
verification on the time that we would be tending to play then for sure it would be a no go for everybody on having this kind of set up.

Due to lots of options that we do have in the market then it wont really be that shocking that they would really be just simply jumping off to one another and as long they cant
able to find a certain platform on which they would really be that confident on playing into then they wont surely stop. Its true that we do have tons of options
on which we could able to choose from.

I think this is an attack on cryptocurency related casino because I don't see them requesting the traditional casinos to verify gamblers KYC before they can play. The government are doing this intentionally to discourage people from using cryptocurency related casinos.

The government knows that many gamblers now prefer cryptocurency casino since they're fast for depositing and processing withdrawal and there's no network issues for the crypto gambling casinos. These regulations are targetted at taking privacy away from crypto casino.

Crypto related casino has come a long way, they're among the best casino  and in the market and has lots of gamblers using their casino. They're bringing in more people into the cryptocurency industry as gamblers get to know about cryptocurency and do their research.

We can't take out the worries about our personal identity but for the current regulation and other implementation of government we need to comply if we want to continue to use the service of certain platforms. That's why the leadt we can do now is to choose the reputable among those platform so that we can lessen our worries and eliminate the fear of getting compromise since for sure they also protect our identity. I may not aiming to succeed on my gambling journey but what I want for now is to enjoy all the games I play.

Nobody attacks you... and there's nothing toxic here. Don't be so sensitive.

Having one or more provably fair games don't make a casino open and transparent. There are in-house roulette, slots, but the most popular live games and slots are third-party.


Many people don't like in-house games because of the house edge, in the long run, the math says they are all -ev.

What kind of toxic attacks on me are you doing here?

We will consider what I meant by the example of a cryptocasino TrueFlip: This casino is presented on our forum, if you so want to see an existing example.
Phrases from how the project positions itself:

TrueFlip uses blockchain technology to verify its lottery and guarantees the absence of any interference from developers or any other entity.  

The system automatically converts each payment into bitcoin and transfers the funds to the lottery prize fund. The prize fund of the platform is transparent and always open for viewing due to blockchain technology and is 60% of the ticket price. (For more information on the distribution of ticket revenue, see In the "Business model" section).  

TrueFlip offers a transparent business model for TFL token holders. Every ticket sold, winnings, withdrawals, bonuses and operating expenses will be open to each TFL token holder and recorded on the blockchain, so it will not change.

Yes, I may have described something inaccurately in previous post, but this is not a reason to write to me in such a way as you did.

maybe he is referring to decentralised casinos where you can already see the transaction hash of those winners. i think what he meant by non-blockchain is being a centralised one, which actually are using blockchain networks like bitcoin, eth, bsc, matic and others. so he should clarify about this open and close here.  
non blockchain will be fiat-based without other cryptocurrencies as their payment method. and the open blockchain are those web 3 casinos.

He doesn't understand himself either... I am pretty sure about that. There's something about provably fair games (in-house games that can be verified by the third party), but winning probabilities for slots and some live games depend on the provider, and their RTP is usually visible, but we can't verify our bets. I guess he mixed up those two... somehow, some way.


This is something most of us from here understand... but for people outside crypto all this looks like a "spaceship"! After so many years in crypto, I still make mistakes here and there, especially when I am trying out different possibilities, and in crypto, we sure have a lot of them. If we talk about crypto in general, including all coins, tokens, and chains. Wallets are a different story, but very important as well...

The headline is simple "The Rise of Crypto Gambling: What You Need to Know"! The first thing is definitely setting up a wallet, but only one wallet will not do much if you wish to experiment with "all the possibilities in the crypto gambling space". And people should really be careful with using "the right chains and addresses"! You can't believe how many people make those simple mistakes, and for newbies all that can be really confusing!

I am not sure I fully understand your point. Could you please provide some examples of popular casinos that operate on an open blockchain? It seems like you might be confusing the provably fair concept, which has nothing to do with blockchain technology except for its use of cryptography.

All the arguments are quite accurate and true, I, according to my personal observation, compile such a list of the advantages of casinos that are created on the basis of blockchain:

1) The most important reason in my opinion is honesty. There are plenty of crypto casinos that operate on an open blockchain and easily provide their winning probabilities, which are involved inside their games, such as roulette, slot machines and the like. Shouldn't every casino be open? Casinos on NON-blockchain do not think so.

2) A special way of entering and withdrawing money: no open movements of transactions on accounts and cards. By transferring money through cryptocurrencies, you are anonymous. Transactions go fast and without stupid confirmations, because of which you may be asked to turn your head every time or provide documents for the 100th time.

Yes, a lot! The sudden spike is all because of the upgrades in gaming industries and the increased likeness of the games that are played online. Peeps are diving into virtual reality like never before. I think we should also thank the high-end devices that are now a reality for most of us and it's easy out reach is unmatched by the bitcoin era. I am not saying crypto has got anything to do with it but with the rise in online gambling, streaming realities, money making opportunities everything has changed now.

Most of the influencers and streamers are now playing their games live only so that they can get the views, and get paid with the streaming platforms on which they are streaming live. The ad revenue share has gotten up too.

I think, this will even go further with the Gambling and whole new realm of investment lyes ahead of us.

That's very true, and I believe that not only some but most of the casinos do that because they want more users on the platforms and that's why they allow VPN based connections. However, if a user who is connected via a VPN becomes somewhat lucky and tends to win most of the bets worth a lot of money then in that case the casinos will ask for KYC information which is already a part of their TOS. They don't ask for KYC for a certain winning limit, but if a user wins a lot more than that limit then the casinos will ask for KYC.

The gambler won't be able to get KYC'ed because he/she has been using another country's IP address and in order to get KYC verified that user has to provide ID proofs and other documents that belong to that country, and unfortunately such user won't be able to provide those details because he/she isn't a citizen of that country, but has been using the IP address of that country to hide his/her true location.

I also recommend everyone to use their own IP to create and use accounts on a casino so that there won't be any KYC issues at all for that user. I also recommend you to avoid using any VPN connection at all if someone is very serious about gambling because hiding your real IP address can cause huge troubles for you when it comes to withdraw the money that you have won.

It's better not to use a VPN than later can make suspicion the casino so that the casino asks you to do KYC. Especially if the regulations say you can't use a VPN, so if a user is caught using a VPN, they will impose a penalty on that user.

But if they still want to use a VPN because their ISP doesn't allow them to connect to the casino, they can first ask the support service at the casino and explain that they are forced to use a VPN to play gambling at the casino. The casino will understand, and if one day they ask or ask us to do KYC, they can see our chat history with the previous support service personnel. Perhaps, the casino will still allow us to use a VPN, especially if our gambling account is not suspected of doing activities contrary to casino regulations.

The casinos that allow you to access their website with a VPN and play when it is contrary to their TOS will either KYC you if you win big enough, or withhold your winnings if you attempt to withdraw for TOS violations. When I say they won't flag you immediately, I'm referring to casinos that allow you to play while connected to a VPN service.

Some casinos don't care if you use a VPN to bypass geo restrictions because they want the business. But if you win something big enough, they will certainly use it against you.

My recommendation is to not bypass geo restrictions.

I have personally never had to use a VPN to access gambling services, fortunately. Though, if I had to advise someone in a position where they need to do so, it would be better first to look for alternatives that actually can carter people from one's country and without using a VPN.

In the case of those alternatives are lackluster or not available, there would be no option but try a VPN, keeping in mind one needs to check the Terms of Service each time their are updated, to avoid getting uncomfortable surprises in the future and in the case one want to withdraw some wins. In any case, VPN being is only option is something I would only expect out of very authoritarian countries and societies.

If i go by what i understand you meant, i would simply answer by asking a simple question, and that question would be "what exactly do you mean?".

majority of every online casinos that exist have it straight up on their terms of service that the use of VPN is prohibited, and many of this casinos have software's installed that monitor every users activity, this softwares can detect when a customer is on VPN and when he or she is not, with this, the casino have the ability to immediately know when a customer is using a VPN, they can either ban the account of flag it for KYC, and the problems all begins when the user is not able to provide a document that matches the location the used in the VPN .