Topic: What importance is kyc In gambling section - page 5. (Read 2082 times)

AFAIK, users who are asked to send their data to be able to withdraw their money from gambling sites are because admins detected inappropriate behavior carried out by the users. Whether it's alleged for cheating the game or alleged for money laundering business, for example. Btw, as long as we gamble on gambling sites that can be trusted and they don't apply KYC as the requirement for all members, we don't need to worry even though we win a lot.

You got this right mate because there’s a lot of issues from the winners in some Gambling sites that KYF has been used to hold their money .cases that at first players has no idea until they become a winner and was asked to present this KyC thing to claim their winnings

Yeah, there are so many good options for us not to fill-up the KYC and they don't need it because we are just playing for fun and we are playing on their site because we don't want to give our personal details. If KYC is being asked for a new gambling site then for sure they will not succeed and they will not last in the market, gamblers don't prefer to play on that kind of gambling.

Well, if a gambling site requires KYC info, I am probably not going to play. I live in the US and AFAIK, the US does not consider it legal to offer gambling online to its citizens, unless the are abroad. also, in the US, brick and mortar casinos are required to gather KYC info for AML purposes if someone tries to cash out 10000 USD or above, in one day. It has been a while since I last cashed out so much; but I recall them asking for my ID; they recorded the transaction and my identifying information  in a log; and I believe that I had to sign for it.

I don't think that's neccessary in gambling. There are already kyc free gambling websites out there and they are already operating for many years. If a kyc required gambling business would be built in the future I doubt it will become popular and will earn huge profit.

When it comes to huge amount of deposits,i really support to have KYC for that.I still believe that it can be very helpful to maintain security measures on our part and on the site alone.Although we find it hassle most of the time,but it's an advantage for us  gamblers to be more confident gambling with that certain site.

Having KYC is good because it tends to protect us more and make us safe and secured. But KYC in gambling makes me really think not that important because having to submit our personal details does give us hassle and the fact that we are doing it again and again makes us think not to gamble with that site.

Right, being anonymous is the main reason why gamblers use cryptocurrency, they take care of their personal that much that they become skeptical when a site is asking KYC, also aside from that, KYC tends to become more complicated at times and it may ask you to send it over and over, for me, I don't really like KYC because it ask personal information and it isn't that friendly.

Let me give a short illustration, if as a business owner you do a carry out Giveaways as a way of promoting your business? Don’t you think it will be necessary to have the information of the winners of those giveaways? This will be the proof you can also have to tell others of your genuine. That is the same thing with KYC for big winners in gambling.

I think this is the same thing with gambling, the industry will need the information of the winner since most people don’t believe that its possible to win big, the information might not be displayed but its safe with the site .Its not a bad thing to fill KYC anyway, just few questions asked.

First of all KYC perhaps should go for both parties in some way.
Second, KYC is essential in a way to prevent or perhaps more important act against scamming yet again innocent users should be able to preserve their privacy, the privacy of their funds and their doings which such methods can complicate at times, most of the ICO KYC requests end up sold in darker markets than we know.

So most of my worries about KYC are about privacy loss on people that deserve or need it. I has no support towards specific opressor behaviour such as the one usualy excercised by governmets or unlogical organizations.

Usually these kyc process do happens only when theres a player who do have possible fraudulent activity and this is the only time I do see

valid for these gambling sites to ask such verification but talking before registering or before making withdrawals then this site is shady.

We all know that KYC is a security measure, but there also stands the risk of getting our documents compromised if the end party (ICO, Exchanges, Airdrops and Bounties, etc.) has got something fishy in their mind to do with them. I'm not blaming that all are bad, but trying to get a trustworthy one is like finding a diamond in the crowd of charcoal, especially if you're going to give them to an ICO company to make some extra bucks by joining their airdrops / bounties. For those free coins (that are just speculated to be having a value they promise while asking you to register and do a KYC as such coins are yet to come over an exchange), we should understand that we're giving our precious details which one shouldn't even send to anyone accidentally due to the fact that such confidential information can be misused to any extent and behind our back.


If KYC becomes mandatory in gambling, I guess I'd stop doing it as what's the privacy about if we're to be asked to share our details even with a gambling site where we wanted to stay anonymous?

Would you mind sharing that gambling site's name here just so that we see and learn what are such procedures being carried for?

P.S.: KYC may be asked by some of the reputed sites just in case they doubt it's not you and someone else trying to redeem money from your account. In cases where the withdrawal amounts are higher and as there are withdrawal limits (some have daily and others got monthly), there may occur a need for you to provide some proof in the end to get your money withdrawn.

If the Gambling site requires KYC, it should state it at the time of registration. Those sites which do not enforce KYC while registering , deposits and playing on the site but requires KYC before withdraw are more likely to do scam and you should avoid such sites.
KYC is good if you want to track the players in case they try to fraud or try to break any rule etc.

Like what online gambling players behave dubiously, I think every gambling site has its own security system if something is suspicious maybe their system will automatically work. KYC at gambling is not really needed and every player must have their own privacy and have a reason to play gambling online, if they only play to spend free time whether it becomes a suspicion and I don't think so, because online gambling is a freedom for most of their governments prohibit gambling.

I don't find anything specific for KYC, and I don't know knowing your customer and being dubious has some relation. It is completely contradicting, and particularly when you gamble you are just spending on and if won you get credited with the winning. What's there to be doubtful on the winning and settlement to the respective wallet from which amount has been spend. If something is doubtful then its the failure of the website and there isn't any need for KYC with gambling.

Since kyc is the only way gambling sites can know their customers, I did not see anything wrong with that. You have to know the identity of the people you are dealing with in other to take necessary steps incase those people behave dubiously.

I beg to disagree make, if you say the essence of KYC is to control fraud then you should agree that it’s a way to check fake accounts and fake account holders are mostly people who create account strictly for that purpose. Majority  of them do not gamble regularly, so it is possible they do it when it is time to carry out the act of fraud and then they will claim the money was gotten from gambling.

KYC the site have the database of all its players and especially the record of those who have won big amounts from the casino site for reference purposes. So if you a player has a clear conscience, they would see nothing wrong with KYC.

No, KYC is not necessarily on gambling because that is not involved in money laundering related case just like investing in ICO's project that it should have been passed with KYC. Correct, being anonymous in gambling without knowing with someone else and hide your real identity is a good idea. Just like me, actually, gambling is prohibited in our religious group but I can still do it on the internet and they even know.

I agree. The reason why i love to gamble using cryptocurrency is its idea of being anonymous from your co-players especially in online gambling. I understand that KYC is just for security measures but i still think that this procedure is not really essential as it gives more hassles on the part of the gamblers.

Can you give me one good reason why you feel KYC is required for money above 3000$ ? Because for me, I think its not necessary at all regardless of the amount in question since gamblers enjoys their privacy. If a casino site deems it necessary to ask KYC from gamblers who win huge amount of money, then it should be made compulsory for everyone because as far as I am concerned KYC is KYC

If I won a huge money on a site and it starts asking me to fill kyc before withdrawing, I would angrily leave that site with the money, but I can bet that the damage I would make to the reputation of such site would be worse than the money they hold behind.