Almost every gambling platform does this and they never find it a serious issue, as they never look from the user end. It is good to allow deposits only after KYC verification. We users of different online casinos might've experienced it, but the support teams easily give a solution as the platforms doesn't want to degrade the reputation of the platform.
The competence in the gambling industry paves path for the success and give the best comfort for gamblers.
Topic: UK fines online casino for only asking KYC from winning gamblers - page 6. (Read 588 times)
January 23, 2023, 05:51:17 PM
January 23, 2023, 05:47:36 PM
If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances?
For KYC casinos, it would be good if people that are signing up should do KYC before they can deposit.It is a very good idea but it would be good for punters to always read casino ToS before they register and they should provide necessary documents for KYC, they should do KYC before they deposit.
Many gambling sites are doing this to cheat their customers, it is common everywhere.
January 23, 2023, 05:31:27 PM
I have a feeling this is argued as something that happens in normal casinos so its fine to do online but I doubt that actually works out law wise (eg we can only hold £100,000 in our casino and need to bank transfer/cheque for higher).
I'm surprised it's taken them this long to consider it illegal though and something worth investigating (perhaps it's just that a case has only now been brought against them).
I'm surprised it's taken them this long to consider it illegal though and something worth investigating (perhaps it's just that a case has only now been brought against them).
January 23, 2023, 04:21:36 PM
One fairly common complain among gamblers is they are allowed to make a deposit at casinos and lose their money without any issue, but if they happen to win and they want to make a withdrawal then they are hit with a KYC request almost immediately, Tonybet a fiat Estonian casino was fined more than 400,000 pounds for this practice and it seems the regulators are now interested in making reforms to the laws and force casinos to also make checks on those gamblers which have lost a lot of money.
If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances?
Source: https://www.theguardian.com/society/2023/jan/18/tonybet-fined-regulator-online-betting-id-checks-terms
If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances?
Source: https://www.theguardian.com/society/2023/jan/18/tonybet-fined-regulator-online-betting-id-checks-terms
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