What would be an ideal KYC solution? - page 12.

BitcoinPanther

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Quote from: SirJohnVonSlotty on December 01, 2022, 11:21:05 AM

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.

I think KYC is the trend now, so it is somehow difficult to not implement it since regulations are imposing that centralized casino must implement KYC for anti-money laundering. I think if the casino wanted to implement KYC, they must implement it on the registration and before enabling deposit address so that a player can have a choice whether he will undergo KYC or not before playing. That way player can avoid losing fund in relation to KYC issue. This also solve the casino's problem of multi-accounting and other exploits done by users.

It is either implement KYC or not, if the casino wanted to implement KYC then do before the player is able to deposit funds.

Stedsm

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There's nothing wrong in providing KYC if you are asked to give the same (but by a reputed casino ofcourse).
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.

ajiz138

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Quote from: ryzaadit on December 01, 2022, 12:21:55 PM

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.

True there is no solution they will ask for KYC if needed or when a big win comes to us then the casino will ask for documents for withdrawal approval.

Basically, we are still taking advantage of opportunities for users with small funds, so it won't be questioned for KYC, but if it's more than that, maybe we have to be prepared to give up everything the casino needs, so there's still no good solution because the government is still in control for a regulation on the casino.

Stake and some casinos are still a solution that does not ask for KYC because withdrawals are very small.

rhomelmabini

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I think a simple KYC is the solution nothing much to be asked to the user and besides KYC doesn't combat 100% on what the government really trying to limit. Yes it mitigated the risks of these money launderers but I think even with a thorough KYC it's still not enough to stop them at all.

Dunamisx

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Quote from: SirJohnVonSlotty on December 01, 2022, 11:21:05 AM

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

1. Apparently a higher percentage of gamblers would prefer casinos that have no KYC requirements because this will help save the unnecessary stress for verification of user's account and the KYC restrictions sometimes placed on account that are yet to be verified.

2. I think the demand for this will be a rare occurrence since everything now evolved round about digital currency in this era.

3. Gamblers don't use KYC request to build their trust on a gambling website, what they build upon is the capacity to how far they can deliver their services when it comes to enjoying gambling varieties without any delay or denials in their gambling experience with their casino.

I don't think i can really side the other side

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Quote from: SirJohnVonSlotty on December 01, 2022, 11:21:05 AM

Current method is good enough until better technology comes along, and that's not far away. I am pretty sure that next one will be Zero Knowledge -based confirmation system where casinos and regulators know it's me without me revealing any information or scanning my passports etc that might get stolen and leaked. Which in my case has probably already happened as i gave my ids in the past a lot without considering the consequences.

If the question is that do we need KYC at all, then the answer is that it isn't something we get to control.

ryzaadit

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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.

Eureka_07

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Quote from: SirJohnVonSlotty on December 01, 2022, 11:21:05 AM

Most will probably say that they are against KYC, which is very reasonable if the business has major processes related to cryptocurrency (cryptocurrency, which we know, was originally created to to attain financial freedom from the hands of governments).

Personally, I believe government still has to have it's part, but they have to be limited. So for both of those who want to have 0 KYC implementation and casinos and regulators, they have to meet in the middle, which I think the idea of having KYC being asked is based on the amount of money.
Also, casinos should not just accuse anyone without any reason, if they ask for KYC they should entirely explain what happened and why they ask for identifying documents. (I know there might be privacy concerns here, please share your knowledge about it, I'll be glad to hear it).

SirJohnVonSlotty

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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.

Quote from: efialtis on November 08, 2022, 01:11:33 PM

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.

Topic: What would be an ideal KYC solution? - page 12. (Read 4987 times)