What if all crypto casinos requires KYC to continue gambling? - page 5.

Agbe

legendary

Activity: 1106

Merit: 1372

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

It is not a big deal and even now and the ones I have participated any casino is even free from it except few ones which can also ask KYC when withdrawing big/huge amount. And when you look at the casino industry. No KYC casinos which are really really for business and legit are doing well as well. But the KYC casinos are many and as I said it is only when you want to withdraw huge amount, then we will know if the No KYC casinos are really No KYC. And if online casinos ask for KYC throughout, gamblers will still play but those who seriously with their privacy might leave the online casinos for offline casinos where they can only play with the company and account and only get paid when he wins.

topbitcoin

hero member

Activity: 1834

Merit: 720

Quote from: Kasabus on November 18, 2024, 04:36:53 PM

Quote from: topbitcoin on November 18, 2024, 03:08:05 PM

All choices come back to yourself in the end because indeed KYC for now is a demand for Casinos so if we still want to play then we inevitably have to follow the rules because it is already set unless we want to stop on the site and switch to other gambling conditions in land-based casinos for example.

I personally for now will still do it in non-KYC but if in the end all online casinos require to do KYC including for some sites that I still often visit today then I have no problem and will follow the existing flow because it is already a provision.
I won't feel that it's a burden if it's all required, but if there are still non-KYC sites and they are reputable then it will still be my first choice.

I think we all do the same thing. As long as we can still take advantage from those non-KYC casinos, our focus will be on them. But when time comes that all sites are already required to comply with KYC, if we want to stay gambling, hence we should play based on the rules. After all, we don’t give our personal information to those shady casinos, but we should be more cautious instead in looking for reputable casinos to gamble with.

As I stated in this case it depends on those who really want to make a decision because in the end the choice is only 2 where to follow the existing rules or look for other options such as gambling in land-based casinos and other possibilities of retirement.

But for gamblers especially when they have made gambling a part of their weekly or monthly routine in the end they will definitely take the first option where they will gamble despite the KYC rules because in the end the KYC rules will not be able to make them stop so it is a reasonable choice to force KYC to gamble.
Because in the end this is also for our verification purposes only although there are some who avoid it but when the attraction of gambling is still very large it will be very difficult to resist this.

Nwada001

hero member

Activity: 798

Merit: 702

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

I will still gamble where necessary; in fact, I don't think I will even be greatly affected by the casino change of policy, as I can just stick to the casino I make use of, where my KYC is already verified.

The only limitation such a policy can cause is that I can't easily be trying out new casinos as I won't want to endanger my private information on different platforms, making it difficult to detect where the breach comes from in case of anything.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: Onyeeze on November 19, 2024, 04:39:37 PM

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

from my understanding is not bad for what the gambling website ask the participant or the gamblers to do by a verifying their account because many people do not like to obey the rules and regulations of casino gambling website by having a Dua account in the same gambling platform which is against the rules and the regulation of casino so if this particular casino gambling website to have noticed such and the demand for every participant to have done their kyc completely I don't think that there is anything wrong because they have reason why they ask them to complete their step 2 KYC, actually KYC is been done for purpose of knowing your customers.

I also don't feel anything bad if there's implementation like that since for me this is just part of regulation and how casino do counter action regarding to latest regulation done by the government. So if a reputable casino would able to ask this then I am willing to comply with what they asked especially if I'm still satisfied and want to continue to use their platform.

But if they feel bad about it, then I guess they have an option to leave since no one force them to submit what casino asked them to do. So its really up for them if they like to continue or not since I find it normal if the casino will ask those things since they have many things or issue to avoid so they can continue to operate without facing any issue to those institution regulating this businesses.

Wexnident

hero member

Activity: 2758

Merit: 675

I don't request loans~

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

~

I've done KYC before, and probably would continue doing the same really. At this point, any semblance of anonymity was probably gone already since I've always done KYC in various services lol. Ofc if I could keep my anonymity all the better but if not then that's just that. It's comfort vs anonymity and I chose the former. Ofc I try to limit it to a small number nowadays if possible, and only in services where the KYC actually makes sense. In casino's case I reckon it helps with AML policies so nothing I can do about that.

Though it is kind of contradicting since the assumption is that all casinos ask for KYC now. Don't you think decentralized casinos wouldn't exist by then since "all" casinos ask for KYC?

Onyeeze

full member

Activity: 742

Merit: 217

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

from my understanding is not bad for what the gambling website ask the participant or the gamblers to do by a verifying their account because many people do not like to obey the rules and regulations of casino gambling website by having a Dua account in the same gambling platform which is against the rules and the regulation of casino so if this particular casino gambling website to have noticed such and the demand for every participant to have done their kyc completely I don't think that there is anything wrong because they have reason why they ask them to complete their step 2 KYC, actually KYC is been done for purpose of knowing your customers.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Quote from: AVE5 on November 19, 2024, 12:18:49 PM

Obviously considering private circumstances there'd be gamblers who may step back from gambling if a policy of compulsory KYC is applied especially on crypto casinos because in some regions Crypto is made illegal so also considering security outcome would be a setback to some gamblers from the casinos.

I don’t expect for every gamblers out there to bite this KYC and continue gambling. However, for most of the gamblers, anonymity is not an issue anymore so most probably, they will still continue to gamble but on only selected trusted gambling casinos as it would create higher risk for them to give their private information to those shady casino sites. Including myself, I would definitely gamble more, but this time deep research should be made first before trusting these gambling sites.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: Fortify on November 19, 2024, 04:11:12 PM

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

It was inevitable really and now Stake has done it with their huge size in the industry, others will be forced to follow. Not only that, you just know that they will actively be lobbying in all countries to make sure every casino requires KYC now and push to get any that are not doing it shut down (an easy way to suppress the competition). These crypto sites are transitioning into the main stream and want to get listed on stock exchanges, so they have to go through this process of matching what the fiat currency gambling sites are doing. They've calculated that in order to legitimize and potentially step up to an even higher level of profits, this is the required move they have to make.

The first casino i have encountered on which have applied some light KYC is Roobet on which on their level 1 on where they would be asking about some basic information of the gambler, as you do make out some bigger withdrawals or deposits then this is where you will be needing up to upgrade your KYC level for you to be able to play without any issues or simply into those withdrawal moments or periods on which they will really be asking out for you to comply which it do really sucks on this case because crypto gambling was known on having no kyc or simply it did become that popular because of this aspect, but now we are already
seeing that they are integrating gradually and just like on what everyone is saying that we will really be starting to see that they will really be having those changes and as crypto gamblers then we will really be
needing up to adapt since we dont really have no choice at all but to accept on what we are really that currently experiencing. If it would really be that up to you whether you will really be still playing
despite of those changes or will really be stopping because you cant bare up that kyc issue.

Wiwo

hero member

Activity: 1260

Merit: 765

Top Crypto Casino

As times keep changing same are regulatory framework works and as the policies keep changing same will the KYC demands from various gambling sites keep changing, we have a time when you can gamble with just email verification and make withdrawals close to about $5000 or below before you are asked to make more verifications, but this day's we see that even the most popular cryptocurrencies casinos like stake are now asking new members for close to level 2 KYC verification at the point of account creation, this point to one thing which is, more regulatory compliance from casinos and also trying as much as possible not to allow double accounting on the casino.

Fortify

legendary

Activity: 2688

Merit: 1192

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

It was inevitable really and now Stake has done it with their huge size in the industry, others will be forced to follow. Not only that, you just know that they will actively be lobbying in all countries to make sure every casino requires KYC now and push to get any that are not doing it shut down (an easy way to suppress the competition). These crypto sites are transitioning into the main stream and want to get listed on stock exchanges, so they have to go through this process of matching what the fiat currency gambling sites are doing. They've calculated that in order to legitimize and potentially step up to an even higher level of profits, this is the required move they have to make.

Koadharber

hero member

Activity: 1065

Merit: 510

Quote from: stompix on November 19, 2024, 12:53:43 PM

Quote from: |MINER| on November 19, 2024, 06:02:11 AM

First of all I think it will never happen that all crypto casinos will ask us to do kyc verification to continue gambling. Because crypto casinos also include decentralized crypto casinos and we don't have to do KYC verification on them and we don't have to do it until they are converted from decentralized to centralized casinos.

Give me one example of a truly decentralized casino!
You need someone to set the games, you need someone to settle payments, you need someone to settle bets, how is that going to work in a decentralized casino, and more importantly who is going to be in charge of the games that run there and determine the RTP and payouts?
There is not a single true decentralized casino there, and the ones that can actually claim to offer such things are just one way bettors, and hardly anyone plays on them.

Decentralized ones are pertaining into those blockchain based games on which you do make out bets directly and this one involves fees and bare in mind that how its owners do make out money of it?
This is why its not really that shocking that we are seeing more casinos which had been that non centralized in the past but now they are really that gradually that becoming regulated same goes with
those known online casinos on which it is really that being having that kind of centralization but its not something that you would really be bothered into. There are really those people or gamblers who
do give out importance about anonymity and thats why if there's such changes then they would really be skipping out on playing but in todays situation not all casinos are asking some KYC of yet.

Alphakilo

sr. member

Activity: 560

Merit: 265

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

Anyone who has been able to get some success when it comes to using apps that require KYC verification will find this further requirement a lesser task to complete, because I believe only the best casinos offer this level of verification and it is due to safety reasons and regulatory requirements which guarantee that the casino license isn't revoked.

I would keep gambling upon completing the kyc requirements because for me, gambling with Fiat isn't as interesting as using cryptocurrency and any kyc right now will properly position my account to be safer from hacks and penalties and be able to receive rewards and offers that comes with having completed the kyc verification process to begin with.

Dunamisx

hero member

Activity: 952

Merit: 555

20BET - Premium Casino & Sportsbook

Some actions or decisions are not possible and such is what we could also have in this regard, we cannot have everyone of them to think and act the same way in gambling decision, this is not coordinated y anyone and not even the government can make such effective regulation or policies that can work or bring out a result in this unanimous pattern, everyone who is into gambling business will have to work on the implementation of what's profitable on them.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: |MINER| on November 19, 2024, 06:02:11 AM

First of all I think it will never happen that all crypto casinos will ask us to do kyc verification to continue gambling. Because crypto casinos also include decentralized crypto casinos and we don't have to do KYC verification on them and we don't have to do it until they are converted from decentralized to centralized casinos.

Give me one example of a truly decentralized casino!
You need someone to set the games, you need someone to settle payments, you need someone to settle bets, how is that going to work in a decentralized casino, and more importantly who is going to be in charge of the games that run there and determine the RTP and payouts?
There is not a single true decentralized casino there, and the ones that can actually claim to offer such things are just one way bettors, and hardly anyone plays on them.

LUCKMCFLY

legendary

Activity: 2632

Merit: 1883

Leading Crypto Sports Betting & Casino Platform

Currently things are like this, without KYC requirements things always flow in any casino, so the casino that does not ask for KYC is because it is decentralized and that is a fact, there is no need to look for more things, it is like that, I personally only do KYC in my favorite casinos that do not even reach 5, and that is because I know them well, you follow your threads Ann, and that gives me confidence, with a new casino I really do not trust it, it is my criterion.

KennyR

hero member

Activity: 2310

Merit: 532

DGbet.fun - Crypto Sportsbook

In whatever way KYC is mandatory, there'll be different levels of verification with attributes with limits on wagering as well as on withdrawal. People will choose according to their wagering and withdrawal requirements. Even now, most of the platforms follow a similar kind of KYC verification. E-mail and phone number-verified accounts get certain limits. Further, the identity verification gives higher limits, then address verification and further proof of funds, which get complete access without limits. If such a scenario happens, surely there'll be people who go with the flow. Same time, new platforms will arise without this KYC and all, but the trust factors will restrict people from moving towards the new platforms.

Antotena

sr. member

Activity: 490

Merit: 325

Quote from: AVE5 on November 19, 2024, 12:18:49 PM

Obviously considering private circumstances there'd be gamblers who may step back from gambling if a policy of compulsory KYC is applied especially on crypto casinos because in some regions Crypto is made illegal so also considering security outcome would be a setback to some gamblers from the casinos.

I don't know the numbers of people that preserve privacy but I can tell you for real that only few people give priority to privacy first, what comes next becomes the worry of tomorrow. Look at centralized exchanges, there was nothing like KYC thing then in many of them, people actually run away from this exchanges because kyc requirements was even difficult then but after they provide alternatives like some bank informations, everyone now use centralized exchanges, I see casino in the same phase.

If there is alternative, like a standardized casino that is going to provide similar games and sevrince of casino that do KYC, I don't think people will retract from gambling, they will port to other places but if there is no option, they will rather get verify than miss gambling but of course people who preserve their privacy will be force to exit the gambling space for now.

AVE5

full member

Activity: 350

Merit: 128

Obviously considering private circumstances there'd be gamblers who may step back from gambling if a policy of compulsory KYC is applied especially on crypto casinos because in some regions Crypto is made illegal so also considering security outcome would be a setback to some gamblers from the casinos.

Hispo

legendary

Activity: 1162

Merit: 2025

Leading Crypto Sports Betting & Casino Platform

Quote from: Ziskinberg on November 18, 2024, 06:14:59 AM

This is in connection back to the thread I made about casinos mandating users to complete Level 2 KYC by the end of the year. By now, we probably have an idea that over time, more and more casinos will likely adopt similar requirements.

So, here’s the question: if all crypto casinos started requiring KYC before you can gamble, what would you do? Would you go ahead and pass the KYC to continue gambling? Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

I think I would opt to only submit my personal documents for the KYC casinos I use the most and I would withdraw and stop using those casinos I have only used in order to try their features. Though, one cannot ignore that if all centralized casinos started to ask for KYC before even playing there would be a surge on gambling volume and a surge of users in casinos which are alledgedly decentralized and ask for no documents for people to gamble in them.Not sure whether it could be a temporary surger or something permanent, because I don't have a doubt those decentralized casinos would be prosecuted sooner or later by regulators and those who do not want to sent their personal information to casinos would be get with little to no choices on what to do to continue to gamble.
I am confident we are quite far from those things happening, it will take years before the gambling industry is thst pushed by regulators to comply with unreasonable measures to surveil on gamblers.

$crypto$

legendary

Activity: 2394

Merit: 1049

Smart is not enough, there must be skills

Quote from: AmoreJaz on November 18, 2024, 10:36:41 AM

Quote from: $crypto$ on November 18, 2024, 10:27:39 AM

Don't be surprised that in the future many casinos will follow in the footsteps of the likes of CEX which requires this KYC as a strict regulation.

Sincere answer - will continue to do KYC verification at casinos as there is no other way to play there except doing KYC.
I don't like playing casino with fiat, it's easy to get into trouble for me but I don't know about others, so if it's the only way, I'll do it.

Now, it is your choice which casinos you would like to complete this level of verification. Much better if you can only comply such requirement in only sites that you are truly playing with. As much as possible, lessen the sites where you submit your personal details as it will increase the likelihood of not knowing where your credentials will end up with.
Also, this is already part of mainstream adoption. As this business wants to penetrate large number of audience, and so complying the same government regulation like any other regular business should be expected. And that means, complying with the AML/KYC policy based on their licensing authority. I believe, we all need to prepare for this requirement now.

Of course favorite casinos, and will not do KYC at many casinos this is too risky so with favorite casinos I think it is enough if it is true that this is an obligation later.

Yes, inevitably we have to prepare from now on, one day it may be like Stake casinos where customers will be given more time to do the KYC process, so I wouldn't be surprised in the future because it is heading towards strict rules from the government.

Topic: What if all crypto casinos requires KYC to continue gambling? - page 5. (Read 1277 times)