What if all crypto casinos requires KYC to continue gambling? - page 7.

Joel_Jantsen

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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.

That's good, isn't it? They're complying with the regulations. That also means they have fewer chances of fucking over the players.

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?

FIAT casinos already ask for IDs before you place bets and operate in a highly regulated manner. Decentralized casinos sound like a good theoretical term but have no practical implications in real life.

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Quote from: len01 on November 18, 2024, 06:37:20 AM

If that happens, I will never worry because I already have several accounts in different casinos that are most popular in this forum and I have done KYC level 2 from the beginning. So if the rule applies to all crypto casinos, I will not mind. Whatever happens I prefer to bet using crypto which provides convenience compared to betting using fiat.

There are people that won't gamble if KYC is mandatory, and likewise there are people that will also gamble no matter what level of KYC is required by the casino. The whole thing is about preference and how willingly you would give out your KYC data. Privacy is a choice like I always say, you can't compel some one to keep their data private or not it actually depends on what the person is willing to do.

Different casinos depending on their terms and conditions have different levels of KYC too. For people that are decentralisation and privacy lovers, they will always prefer them to casinos that require intense KYC data.

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Quote from: Oshosondy on November 18, 2024, 06:31:29 AM

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

Or maybe start looking for a decentralized casino to avoid the hassle?

I think we should leave this until most gambling sites will be requesting their customers to do KYC. As of now there are still many crypto gambling sites that do not request for KYC from their customers to certain amount of money. So we can still enjoy the benefit until when all of them will become a KYC site.

But as for me I will do the KYC. The $5 to $10 that I use to gamble every week is not so much to let me be bothered about KYC.

Exactly mate, I don't see what's the big deal about if am not mistaking I think most casino that are tagged KYC needed casino only ask for these verification if only the need be like maybe a huge win occur and the user wants to withdraw out and I believe all these are stipulated in accordance of the fight against people using gambling site as means of money laundering. It seems gamblers are so sensitive about this particular issue and some don't even mind leaving a casino that favours them in terms of winning if the casino decides to follow up with the KYC need from customers.

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Honestly, casinos making use of KYC before gambling is actually not a bad idea, a thread on how KYC of a casino was used to catch a criminal in this forum has been discussed, it explains how a criminal made a kidnap and asked the hostage family to send the money via a gambling site. To round it all up, he was caught but unfortunately the hostage didn’t make it alive, however he’ll be sentenced for life. This is a pure evidence that KYC is good to regulate a system. The government demands KYC because most casinos players get their money from illegal source and would want to use casinos as a tool to act like a mixer. Both crypto accepted casino and fiat casinos are used for this, it might not be all that obvious but that’s actually one of their reasons for using casino without KYC verification.

nimogsm

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We have already discussed something similar. And yet, many will agree that the casino for the first time, the first time establishes the rules with which the player either agrees or not. The second aspect is the transparency of the funds from the player if they are clean then then it is to overcome that the account is blocked by such a probability.

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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?

Everyone's response to this question will be different because different people have different priorities when it comes to privacy (KYC). To some people ( including me), KYC is not much a big deal, they prioritize convenience, security, trustworthiness and accessibility more than anonymity. If a particular crypto casino can give all this and has proven to be reputable, why bother much about KYC? What this means is, I will complete KYC as long as I am sure I am dealing with a reputable casino.

To many others, this might not be the case. They'd rather go for other alternatives that still keeps them anonymous. This is what they prioritize the most and they will go for it.

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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?

Decentralized casinos are a very specific topic, but still, it seems, you will have to at least try it when the time comes. For now, you can go to those casinos that do not require a KYC or at least do not cooperate with tax authorities (KYC was introduced so that in case of problems with regulators on AML issues, the user can be handed over).
If the casino has a KYC + taxes, then I don’t see any difference from a regular fiat casino, so I’m unlikely to stay there.

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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?

Before the year 2020, almost centralized exchanges allow you to trade and do anything you want without KYC from Binance, Kucoin, Mexc, OKX, Gate and many of them but all of a sudden, we saw a tremendous turnup on kyc demand from exchanges. Binance started it first by restricting US citizens from accepting global Binance to create a specific Binance US separately, all this is because they are trying to comply with regulations, it's similar thing the casinos are doing.

There could be a vector attack from government regulations and licensing bodies. Remember Polymarket made gambling event accessible for lots of people this year election, even stake allow some people to bid for the election prediction. All this huge enough to attack casinos to comply with kyc requirements. With time, it will be very difficult to see a casino that doesn't have kyc. The ball is your court, use them like that or kindly ignore them.

rachael9385

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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?

Actually, I will look for a decentralized casino that I can use to gamble without any KYC requirements. But to be honest, I do not really support that facts that every users must verify KYC before they could gamble, and I am sure much people will not want to share their personal informations with anyone, so they will probably switch to a fiat casino instead.

Quote from: aioc on November 18, 2024, 12:06:31 PM

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Yes it's true to continue with a casino that has a better reputation because you are sure that your informations are in a good hands.

hahay

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Previously, I was very unwilling to provide KYC to online gambling sites. Thus, if for example a gambling platform requires users to provide KYC before playing and before making a deposit, then I personally will immediately leave the platform or may also completely stop gambling online. But, if for example I have been using the relevant gambling platform for a long time, and then they require users to provide KYC, then maybe I will also be willing although with full consideration as well. Because for me, being anonymous is a good way for me to feel comfortable in using online gambling platforms.

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Quote from: Sandra_hakeem on November 18, 2024, 11:34:24 AM

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?

To be honest, we've got more people wagering on fiat casinos than crypto casinos, or maybe I'm wrong? That's okay... Atleast that's how I perceive it.
On the other hand, I don't even see completing the lev 2 KYC as a hassle -- cause what else do you wanna do? Argue with the casinos and refuse to coordinate accordingly? You're directly fighting the AML regulations and that's a YOU problem.

Quote from: Silberman on November 18, 2024, 11:22:01 AM

I would look for decentralized casinos, that is for sure, while it is inevitable to give your personal information these days, it is necessary to reduce the number of institutions that have that information[...]

so, you'd literally chase a falcon away from a chick, but you'll trust and employ a hawk to see after it? Lol... Do you understand the risk in decentralized casinos and why you don't see much of them? When was the last time you were scammed?

Quote from: Samlucky O on November 18, 2024, 11:24:03 AM

I would not switch from casino one casino to another because of kyc

Or better still, anyone that wants to switch can, but whatever happens at the long run shouldn't be anyone's business...

It's not the hassle of sending KYC documents that some users are protesting to these casinos and exchanges, it's those platforms selling their databases. Especially if they are linked to governments and the government will take those data and add them to their database. But then KYC seems to be a regulation that's been accepted already that's why it's easy to accept it.

There are decentralized platforms like Polymarket, just connecting the wallet. The wallet is still anonymous until it's linked to an address of a CEX where the user submitted KYC docs.

aioc

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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?

Its not good to go back to fiat when you have seen and enjoyed the many benefits of using Cryptocurrency in a casino, so your best option is to do KYC on a casino that has a good reputation and where you enjoy playing, You cannot just leave casinos that you've played all these years so if there's no option, then you just have to proceed so you can continue enjoying the benefits of playing in a casino you trust.

Sandra_hakeem

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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?

To be honest, we've got more people wagering on fiat casinos than crypto casinos, or maybe I'm wrong? That's okay... Atleast that's how I perceive it.
On the other hand, I don't even see completing the lev 2 KYC as a hassle -- cause what else do you wanna do? Argue with the casinos and refuse to coordinate accordingly? You're directly fighting the AML regulations and that's a YOU problem.

Quote from: Silberman on November 18, 2024, 11:22:01 AM

I would look for decentralized casinos, that is for sure, while it is inevitable to give your personal information these days, it is necessary to reduce the number of institutions that have that information[...]

so, you'd literally chase a falcon away from a chick, but you'll trust and employ a hawk to see after it? Lol... Do you understand the risk in decentralized casinos and why you don't see much of them? When was the last time you were scammed?

Quote from: Samlucky O on November 18, 2024, 11:24:03 AM

I would not switch from casino one casino to another because of kyc

Or better still, anyone that wants to switch can, but whatever happens at the long run shouldn't be anyone's business...

Samlucky O

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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?

Of course what is the difference? Afterall almost everything we do online now requires kyc before signing up, and gambling is one of them. If we can do all that then why not do kyc before gambling.

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

Would you switch to fiat casinos instead? Stop gambling altogether? Or maybe start looking for a decentralized casino to avoid the hassle?

Like I said there is no need to switch from casino to casino all because of escaping kyc. I would not switch from casino one casino to another because of kyc

Yucky

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KYCs are implemented for security reasons to protect your account and verify your identity. I think only individuals with suspicious intentions should be concerned about KYC. If you want to change casinos, that's fine, but also consider your finances and account security. KYC helps protect your account from unauthorized access.

KYC also prevents underage gambling. Casinos implementing KYC will have strict policies regarding age requirements, verified through legal documents. In my country, you must be an adult to possess certain documents and have a standard bank account.

As long as KYC requirements don't ask for sensitive information like bank account pin, which would be suspicious, go ahead and complete the verification process. Securing your account is essential because there are lots of frauds out there. Many online services require KYC to open or manage accounts, so it's becoming a more regular standard procedure. Don't let it bother you; proceed with KYC and continue gaming.

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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 would look for decentralized casinos, that is for sure, while it is inevitable to give your personal information these days, it is necessary to reduce the number of institutions that have that information, if we do not do this, then if one of those businesses got hacked our data will be compromised, and I am not really interested in sharing that information with any casino regardless of their reputation, and if I could not find a decentralized casino in which I could do this, I will give up gambling for good at the time.

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As there is no other way but to comply with the rules of the casino itself, if we do not want then we can not do anything in gambling... Of course we will choose our favorite casino to do KYC... if for example you are happy with a lot of casino browsing without KYC while next year it must be mandatory then the choice is to choose a favorite casino... because there is no way we have to do KYC in many casinos.

Switching to fiat casinos? This is not possible I have a fear of fiat casinos.
Quit gambling? Like not if there is a way to KYC.
Decentralized casinos would be a bit more complicated I think...

o48o

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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?

Question is not if they do it, but when they do it. Personally i rather do KYC then not with casinos that are legit. Because that way it's easier to protect my money.

Let's say i pass away, and had money in my casino account. My family might have an idea that i gambled, but weren't sure of my user id or password. And maybe they weren't even sure what casino i was in.

With my death certificate they would have at least a change to get an access to my account. They would just contact the helpdesk and ask for confirmation if i was playing there. It would be probably long process, but way more plausible way to get their cryptos or money if they are in my will.

Slow death

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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?

Fiat casinos also require KYC, physical casinos also require KYC, so people need to start accepting the harsh reality that KYC is here to stay and will be irreversible. Eventually, all online casinos will require mandatory KYC. This is also a measure to prevent minors from playing at online casinos. In my case, I have no problem with KYC. I have already done KYC at the casino I use and I did it many months ago, something like over a year ago. I think that when people start to realize that nowadays things like privacy are something that are being taken away by governments at a very high speed. We just need to see that to open a bank account we need to go through KYC, so most things have KYC. It is better to accept KYC in casinos.

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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.

Topic: What if all crypto casinos requires KYC to continue gambling? - page 7. (Read 1277 times)