Ok so I'm assuming here the problem is the existence of "KYC" itself, users don't want it, and some casinos HAVE to have it due to laws and regulations, so technically speaking there's no method whatsoever to satisfy both parties since, well, they both want it. There may be no KYC casinos out there but most of the famous ones do have it and are required.
If they were to meet in the middle, then the current system would probably be the best, only KYC based on specific conditions. Now, this is abused by some casinos but can easily be fixed by being public with their findings (which some casinos don't really do), and being REALLY specific so that the bloody argument could be done and over with just one single talk. Crypto being used to trace and track could probably be helpful.
Topic: What would be an ideal KYC solution? - page 11. (Read 4987 times)
Hey guys,
With all the KYC talk lately I wanted to open up a thread and ask about your opinion.
The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents
The side of the casino:
- Regulators are asking them to do KYC, but they need to find a balance on when it's triggered. E.g. to keep a portion of the user happy, they can rise the trigger to a certain amount.
- They are tied to a payment provider, either because of the license or CMS, and can offer only a certain portion of cryptocurrency.
- Users are abusing them if there's absolutely no KYC matrix in the system.
What would, in your opinion, be the best balance here?
-snip-
From the user side:With all the KYC talk lately I wanted to open up a thread and ask about your opinion.
The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents
The side of the casino:
- Regulators are asking them to do KYC, but they need to find a balance on when it's triggered. E.g. to keep a portion of the user happy, they can rise the trigger to a certain amount.
- They are tied to a payment provider, either because of the license or CMS, and can offer only a certain portion of cryptocurrency.
- Users are abusing them if there's absolutely no KYC matrix in the system.
What would, in your opinion, be the best balance here?
-snip-
1. If they want to play in a licensed casino, then they very likely have to go through KYC.
2. There aren't many privacy coins, so they will have to limit the number of coins they can play with. Bitcoin and most other crypto currencies aren't anonymous.
3. I am sure if it is a well known casino, they can easily trust their documents with them. And most casino uses third party services to provide user verification services.
From casino point of view:
They don't actually have much options here. If they decide to get a license, then they will have to KYC users. If they don't get a license and provides users gambling services, they might get into trouble and the users too. KYC helps both the casino and the players to be safe.
There is no solution.
Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).
Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.
Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).
Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.
Yes many of us likes to remain anonymous. So many of us prefers no KYC casinos. I know there are many terms and conditions goes on a gambling site regarding KYC, but if you want users to be happy and calm, then you need to listen to the users demand. You can keep certain rules and regulations on site, and if any user breaks it, then ask him/her KYC. Nevertheless not all non KYC casinos are good, as they don’t have a proper license etc. So always play on sites which has good reputation and feedbacks. I myself playing at stake.com from the past 5 years or more and withdrawn huge amount of money. They haven’t asked me for KYC not even for a single withdraw.
I guess a good balance would be to be completely transparent with KYC triggers. It is understandable from the point of view of a gambler that crypto casino nowadays could require KYC. When exactly would that arise? Many don't know. And many casinos suddenly require KYC from a clueless gambler, a gambler who doesn't know what triggered it. I noticed explanations are normally very hazy. They're not specific. They just go along the line of "we noticed suspicious activities from your account." I mean, that's apparently insufficient and should be invalid.
Also, it's always a bit sneaky of a casino to only require KYC upon withdrawal even if violations are already done earlier. Sign up is allowed, deposits are done, games are played, but when the jackpot is won, the casino would suddenly inform the user that he/she shouldn't have even be allowed to bet. Or something like this.
Also, it's always a bit sneaky of a casino to only require KYC upon withdrawal even if violations are already done earlier. Sign up is allowed, deposits are done, games are played, but when the jackpot is won, the casino would suddenly inform the user that he/she shouldn't have even be allowed to bet. Or something like this.
I guess there is no solution for this matter. Regulators demand KYC, casinos have no choice besides implementing KYC feature on their platforms under risk of being forbidden from operating if they do the opposite. That is how it works to have your business working legitimately, by the rules. In my opinion that is just a formality, because there are unregulated websites so trustful or even more trustful than regulated websites. And we could even mention cases of regulated services, which ask for KYC, that have already scammed their users. So, to be regulated and to ask KYC don't mean you are safe, as user.
But that is how most services currently work on the internet and we have to follow their rules strictly or give up having access to the services they offer.
But that is how most services currently work on the internet and we have to follow their rules strictly or give up having access to the services they offer.
First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.
For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
if you don't want any trouble, just play on a reputable casino, which you think you won't have problem submitting your kyc docs.For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
Of course not, we visit there in and with our real identity, why now has it become a problem for us in the online version of casinos?
I believe no body is ever forced to using an untrusted casino, wherefore when they ask for documentation verification, we begin to panic for what they are going to use it for, if you are such a person, then just stick with the reputation casinos and have your kyc documents ready any time it is request, for the reputable casinos, you are sure that your documents won't be used for anything malicious outside the terms stated in the ToS.
It's that people want the casino they are playing to be non-KYC or has a little percentage that they are collecting KYC. KYC is a big hassle let's be honest and it's one of the reason why people want to avoid it.
In an era like this, kyc is a trend almost required in any platform that something to do with fiat. That's why users tend to submit their info like it is nothing special, and no harm will happen like i always read in any kyc concern thread.
If we're talking of kyc preferred triggers, maybe only to those "legit" suspicious activity detected and a certain higher withdrawals, nothing else. This setup works in some reputed casino why not it is not followed to those new casino as well? Or to all casino.
If we're talking of kyc preferred triggers, maybe only to those "legit" suspicious activity detected and a certain higher withdrawals, nothing else. This setup works in some reputed casino why not it is not followed to those new casino as well? Or to all casino.
When it comes to KYC two things are involved.
1: the casino, it is within its right of operations to ask for KYC at regular intervals or as a prerequisite for opening an account with them.
2: the player, who is the client also has the right to either look away from KYC compliance casinos or give up the documents for verification and risk losing their privacy.
So it is clear which step to take to avoid unsatisfactory results for both the casino and the players.
1: the casino, it is within its right of operations to ask for KYC at regular intervals or as a prerequisite for opening an account with them.
2: the player, who is the client also has the right to either look away from KYC compliance casinos or give up the documents for verification and risk losing their privacy.
So it is clear which step to take to avoid unsatisfactory results for both the casino and the players.
The points i want to make here are,
1. If you play with small stakes, KYC is really annoying and likely to make you quit.
2. If you play big and win, the casino will think you are not a true player and ask for KYC.
3. If you want to withdraw the money you won, then why should a casino know your identity? Isn't KYC because of AML laws? What does winning at the casino have to do with money laundering?
4. There should be a cash out threshold in the casino that should trigger the need for KYC.
5. The KYC process itself is time consuming and will go on and on until you say ok enough already and leave this casino forever.
6. The casino will try to make you believe that KYC is a legal requirement, but it's not always the case.
7. Some casinos have no business asking for your identity and should not be allowed to do so. For example, unlicensed and unregulated casinos.
1. If you play with small stakes, KYC is really annoying and likely to make you quit.
2. If you play big and win, the casino will think you are not a true player and ask for KYC.
3. If you want to withdraw the money you won, then why should a casino know your identity? Isn't KYC because of AML laws? What does winning at the casino have to do with money laundering?
4. There should be a cash out threshold in the casino that should trigger the need for KYC.
5. The KYC process itself is time consuming and will go on and on until you say ok enough already and leave this casino forever.
6. The casino will try to make you believe that KYC is a legal requirement, but it's not always the case.
7. Some casinos have no business asking for your identity and should not be allowed to do so. For example, unlicensed and unregulated casinos.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.
For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
if you don't want any trouble, just play on a reputable casino, which you think you won't have problem submitting your kyc docs.For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
Of course not, we visit there in and with our real identity, why now has it become a problem for us in the online version of casinos?
I believe no body is ever forced to using an untrusted casino, wherefore when they ask for documentation verification, we begin to panic for what they are going to use it for, if you are such a person, then just stick with the reputation casinos and have your kyc documents ready any time it is request, for the reputable casinos, you are sure that your documents won't be used for anything malicious outside the terms stated in the ToS.
First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.
For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
Yes, OP should move this to the gambling discussion board.
As we have seen, casinos and bookies with gambling license have kyc requirement in their ToS.
This is part of their compliance also to where they are licensed, so it is understandable that they need to put it in their Terms.
Some of them are not very strict when it comes to implementation, however, the user should always be prepared to submit
if in case he is playing on a casino which requires kyc.
In this regard, if you don't want any trouble, just play on a reputable casino, which you think you won't have problem submitting your kyc docs.
There is no solution.
Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).
Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.
I do agree, every services that involved crypto here will always be KYC, from exchanges to casino because that will be law and by that it will be enforced.Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).
Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.
Yes, there are also DEX in casino and same as exchanges, but they are not being supported, because it has limit and slow. And again, the similarity is the same. I do hope that that there should be certain threshold that the casino will do before asking our personal data. Because the thing right now is that casinos are asking for KYC is they flag an account regardless of the money they won (of course the bigger, the more it will attract KYC).
integrating it into these platforms thats why KYC and regulation becomes more tighter as the years passing by which it isnt really that surprising that we are experiencing these things.
Expect that on future years to come where these crypto casino will really be in default on asking out some verification before you could play or something that we could say
that it might really be ending up on being the same with those fiat casino which i wont really be shocked.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.
For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.
KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.
~snip~
My advice, play on casino who have higher minimum withdraw for required "KYC".
^Definitely right and I agree with this.My advice, play on casino who have higher minimum withdraw for required "KYC".
Because KYC is always been there when it comes to gambling casino that is regulated once they have a license. Any platform that has related to any financial matters will always ask for this KYC, the thing is to choose the higher minimum withdrawal for the required KYC and also avoid asking for heavy requirements of KYC. So always be ready ourself for KYC because it is expected and there is no solution to avoid them.
What would, in your opinion, be the best balance here?
I don't think there would be a balance here. sure, it would be great if the casino does not enforce their KYC but not all casinos will do this, at the end of the day, Casinos will protect and prioritize their interest over their gamblers. I do hope that that there should be certain threshold that the casino will do before asking our personal data. Because the thing right now is that casinos are asking for KYC is they flag an account regardless of the money they won (of course the bigger, the more it will attract KYC).
I remember reading before on a Casino(I forgot which casino it was) that they have a certain threshold before they ask their gambler for KYC(of course as long as they don't find anything "suspicious" on the account).
There's nothing wrong in providing KYC if you are asked to give the same (but by a reputed casino ofcourse).
I guess before, online casinos are not asking for KYC even if you win big, they will readily give it to you once you withdraw.
I said this because sometimes, if we win big, we are asked for more info either to clarify their suspicion or to let them know that we don't belong to one of the site's restricted countries. I know that many of us are skeptical about providing any of our personal details to such casinos but most of the times we need to settle our mind and give our KYC docs to the website in order to get our funds released by them.
It's different now, and for some casinos, initially they will not ask for KYC, but once you win big, the issues arises.
And that's what irked many gamblers, and with that said, I don't think their will be any ideal KYC solution. Casinos are going to hold your winnings if you don't pass your personal data to them. So you are somewhat trap and will be forced to send it just to withdraw your money.
There is no solution.
Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).
Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.
I do agree, every services that involved crypto here will always be KYC, from exchanges to casino because that will be law and by that it will be enforced.Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).
Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.
Yes, there are also DEX in casino and same as exchanges, but they are not being supported, because it has limit and slow. And again, the similarity is the same. I do hope that that there should be certain threshold that the casino will do before asking our personal data. Because the thing right now is that casinos are asking for KYC is they flag an account regardless of the money they won (of course the bigger, the more it will attract KYC).
KYC will be implemented in time, this is inevitable as the government tries to regulate everything that are related to cryptocurrency and with gambling, its slowly happening. I see no solution here aside from dealing with the best site only. I already provided my KYC on many good site and so far I’m still safe, I guess you just need to have a good wallet to protect yourself from any hacker because soon KYC will be one of the requirement to deal with crypto.
I'm not sure if there is a middle ground here:
If casinos are mandated by their regulators then obviously they will ask for KYC, simply as that. Perhaps you need to read between the line what @Efialtis. Maybe in the beginning they "will not enforce", so meaning there is a possibility that they will in the future.
And how many online casinos are going to survived without KYC? that is the big question.
If casinos are mandated by their regulators then obviously they will ask for KYC, simply as that. Perhaps you need to read between the line what @Efialtis. Maybe in the beginning they "will not enforce", so meaning there is a possibility that they will in the future.
And how many online casinos are going to survived without KYC? that is the big question.
Hey guys,
With all the KYC talk lately I wanted to open up a thread and ask about your opinion.
The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents
The side of the casino:
- Regulators are asking them to do KYC, but they need to find a balance on when it's triggered. E.g. to keep a portion of the user happy, they can rise the trigger to a certain amount.
- They are tied to a payment provider, either because of the license or CMS, and can offer only a certain portion of cryptocurrency.
- Users are abusing them if there's absolutely no KYC matrix in the system.
What would, in your opinion, be the best balance here?
Efialtis from BTCGosu mentioned that some of the casino managers make exceptions, and I can imagine how that's possible, but I'm curious in what you would like to see there.
Regarding KYC: Their management confirmed with me personally that they would not enforce KYC. (Same old story, we could of course argue about that just like with any curacao licensed crypto casino) - the good news is when I have personal confirmation of such a statement, then I am putting a "No" and if they break their word at any point of time, I would take action. That is how I have always been handling this topic and how I will continue doing it.
No KYC is best except large withdrawals. With all the KYC talk lately I wanted to open up a thread and ask about your opinion.
The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents
The side of the casino:
- Regulators are asking them to do KYC, but they need to find a balance on when it's triggered. E.g. to keep a portion of the user happy, they can rise the trigger to a certain amount.
- They are tied to a payment provider, either because of the license or CMS, and can offer only a certain portion of cryptocurrency.
- Users are abusing them if there's absolutely no KYC matrix in the system.
What would, in your opinion, be the best balance here?
Efialtis from BTCGosu mentioned that some of the casino managers make exceptions, and I can imagine how that's possible, but I'm curious in what you would like to see there.
Regarding KYC: Their management confirmed with me personally that they would not enforce KYC. (Same old story, we could of course argue about that just like with any curacao licensed crypto casino) - the good news is when I have personal confirmation of such a statement, then I am putting a "No" and if they break their word at any point of time, I would take action. That is how I have always been handling this topic and how I will continue doing it.
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