Why do Casinos ask for so much during withdrawal?

Rengga Jati

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Quote from: Accardo on January 14, 2022, 12:30:05 PM

..Why is it that when a player wins and wants to withdraw their winning the casino will begin to ask for info like source of funds, KYC etc. But they careless about asking for that information when the player is losing money in the platform. ..

The requirements to do KYC are not based on the winnings and withdrawal process. But, there must be T&C in the casino itself that we must do KYC requirements in the casino. And everyone that doesn't fulfill the requirements commonly will have such limited services, such as in the withdrawal process.
If you have been playing in a casino several times, whether you have been experiencing winnings or even losing, you must do KYC if they require KYC.

I think the problem right here is about the way you learn and read their T&C before playing. And maybe you didn'
t read their T7C (in which they require some KYC or other Term & conditions).
I suggest you to always read their Term &Conditions previously before registering in such platforms

RealMalatesta

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Quote from: Accardo on January 14, 2022, 12:30:05 PM

Why is it that when a player wins and wants to withdraw their winning the casino will begin to ask for info like source of funds, KYC etc. But they careless about asking for those information when the player is losing money in the platform.

Out of millions of gamblers, a casino cannot easily filter out abusers hence they allow everyone to gamble and and everyone to enjoy the stay. But, when it comes about withdrawing, they want to reward only the legit players and they treat withdrawing is a way to find and ban the abusers. So, do not wonder why casino is not bothering you until you win.

Agree or not, casinos are facing hundreds of abusers every single day and they still need to run their business profitable hence they need to follow some business model in a way which is not affecting their model of business hence asking questions when you are withdrawing is seems sensible in my opinion as well.

Cling18

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There are gambling sites that ask for KYC during withdrawal which usually cause trouble for most users. They're doing it for verification purposes but to be honest, not all reputable gambling sites do it. Some gambling sites offer smooth withdrawal which is preferred by most gamblers so you better read reviews about gambling sites that could provide smooth transactions without asking for KYC.

cabron

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The users who usually report about these casinos asking for documents from them are ones who are withdrawing huge amounts of money from the casino. It raises an alarm and for casinos, they are protecting themselves too from laundering and whatsoever it is.

I also think the casino is delaying withdrawals in case you may change your mind and play again. Of course casino wants you lose the money you are about to withdraw Grin

Wawa2013

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Quote from: AicecreaME on January 15, 2022, 06:52:58 AM

Quote from: Accardo on January 14, 2022, 12:30:05 PM

Hello everyone, I have not played cryptocurrency casino but, have played slot casino games for quite a long time. However, I scroll through a couple of complaints from players time to time and the one that got my interest is the delayed withdrawal issues. Why is it that when a player wins and wants to withdraw their winning the casino will begin to ask for info like source of funds, KYC etc. But they careless about asking for those information when the player is losing money in the platform.

ANY IDEA?

Maybe what you were trying to say is when players are withdrawing a big amount of cash that they had won in a very short period of time, that's why some casinos delayed their withdrawal, asking some personal questions, and requiring KYC for that certain player, but not all of the gambling sites are like that.

The one that you were saying OP sounds like a scam gambling site for me, because all they wanted is just to earn money while not taking care of their players.

I admit that there are indeed some gambling sites that make it difficult for users to make withdrawals after successfully getting big wins.
They will ask some questions and ask for our personal data, I actually don't like gambling sites like that. But not all gambling sites are like that,
so we don't have to worry about that. Because each gambling site has different policies and rules, if we don't like the rules of the gambling site
that we are using, we can choose another gambling site, because now there are so many choices of places to gamble. We just have to choose
a gambling site that makes us comfortable.

Zilon

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Let's not generalize this but in most cases issues like this are always stated in the ToS but sometimes neglected by gamblers. Most casinos are centralized and we'll registered with license for operation and as such the need the datas of their clients so they can give proper stats on taxes. The only way to hold down their clients is during withdrawals and the understand how desperate one can be to withdraw so the will do anything to fulfill the KYC requirements before withdrawal

AicecreaME

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Quote from: Accardo on January 14, 2022, 12:30:05 PM

Hello everyone, I have not played cryptocurrency casino but, have played slot casino games for quite a long time. However, I scroll through a couple of complaints from players time to time and the one that got my interest is the delayed withdrawal issues. Why is it that when a player wins and wants to withdraw their winning the casino will begin to ask for info like source of funds, KYC etc. But they careless about asking for those information when the player is losing money in the platform.

ANY IDEA?

Maybe what you were trying to say is when players are withdrawing a big amount of cash that they had won in a very short period of time, that's why some casinos delayed their withdrawal, asking some personal questions, and requiring KYC for that certain player, but not all of the gambling sites are like that.

The one that you were saying OP sounds like a scam gambling site for me, because all they wanted is just to earn money while not taking care of their players.

traderethereum

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Quote from: Gosgosking on January 15, 2022, 01:15:50 AM

All this redrawer process could be for security process incase someone wants to tamper with your account, if the process is much the person can't get all information. But the real owner can access it no matter how long the process is.

Maybe that will be okay for us, but if that requires us to fill KYC before the withdrawal, that will not be okay since it feels like a trap that needs us to verify our account before they can process the withdrawal.
But luckily, we have many good gambling sites that will not ask many things when we want to withdraw our money because they realize that if they ask some requirements, it should be written in their TOS and not ask that before processing the withdrawal.
Good gambling sites will not try to do that, especially if it is just launched, because they need to gain trust from the members to explain everything in their TOS.

Poker Player

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Quote from: Accardo on January 14, 2022, 12:30:05 PM

Hello everyone, I have not played cryptocurrency casino but, have played slot casino games for quite a long time. However, I scroll through a couple of complaints from players time to time and the one that got my interest is the delayed withdrawal issues. Why is it that when a player wins and wants to withdraw their winning the casino will begin to ask for info like source of funds, KYC etc. But they careless about asking for those information when the player is losing money in the platform.

ANY IDEA?

The casinos will never give the version that I am going to tell you, normally they will hide behind the fact that it is for security or other reasons, but I am convinced that it is to know by statistics that it is very profitable for them. We have seen cases in the forum of people who requested a withdrawal that took a long time to be processed and ended up betting and losing all the money they had. Processing instant deposits and delay withdrawals is very profitable for them.

Gosgosking

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All this redrawer process could be for security process incase someone wants to tamper with your account, if the process is much the person can't get all information. But the real owner can access it no matter how long the process is.

bitzizzix

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What you should know is to make sure you read the terms of service carefully before starting, as not all casinos are like that and there is verification required when you withdraw an amount that exceeds the limit set by their guidelines or for some reason.
and if you feel uncomfortable with KYC when making withdrawals because large amounts can be done Periodically, whatever the reason is because it is a rule and will be a lesson because all casinos have different rules so it is very important to do research very carefully before you get involved.

bering

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It depend on the casinos TOS that usually this issue will appears for big amount of money to withdrawal but not all casinos have that policy because as some people here said there are several casinos allowed people to withdraw their big funds without kyc but to make all of it clear i think before playing at the particular casinos read their policy is necessary especially if you want to play with big money so if they have this issue you can avoid them

Darker45

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If we are to be particularly strict with AML, it is indeed fair that casinos should already be asking for KYC, source of funds, and whatnot during the deposit. But there must be certain reasons why KYC and other requirements are mostly imposed only upon withdrawal. This is of course not imposed on every withdrawal. But certain significant amounts will definitely require not just manual review by casinos but also KYC. Perhaps this is implemented so that customers won't be discouraged and might decide not to make a deposit because of the hassles involved, or perhaps in order to trap laundered funds it may be enough that strict measures are implemented only upon withdrawal.

robelneo

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That is just your assumption there are hundreds of thousands of players in these casinos and if you check the complaint about withdrawals and KYC there's only a handful of them and casinos have the reason why these accounts are under this requirement, they usually detect abuse and fraud and they want to make sure that these accounts pass their rules and criteria, even if you are not winning a huge amount you can still get your account in KYC or restriction.

Wexnident

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Well some do indeed have that issue, but it might have been part of their TOS originally, or if the withdrawal amount exceeds the set limit for free players, then they begin asking for KYC. It's compliance, afaik, for their licenses to actually be allowed to keep working. It's pretty strict on some casinos afaik, so they really tend to dish it out with players whenever it happens.

Well, casinos are sometimes at fault with their KYC rules being hidden so much, but also it can be the player's fault for not reading their withdrawal rules and whatnot. Most of the time complaints here come from not understanding or miscommunication really, most of them are resolved whenever casino representatives here start talking to the user/s involved.

chaser15

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Quote from: Oilacris on January 14, 2022, 06:50:40 PM

They are covering up their hidden agenda via those alterations of terms and condition which you might actually true with this claim but players or community isnt
really that dumb that they wont really be noticing this kind of behavior which they might able to escape out from actual or real accusations but
the impressions of people around would surely stay and one day this business wouldnt really get any players for sure.

I think that kind of accusation mostly happens at those untrustworthy gambling sites. OP is like saying crypto casinos are having the same characteristics where in fact, he doesn't have any experience yet playing crypto-gambling.

Problems like that really happened even on big and popular sites but it's something not that big and case-sensitive. Now for OP, make research on some reputable sites here so you can expect a good gaming experience. Then later on, feedback if your question about withdrawals or KYC-related stuffs is a problem on the site you have chosen.

Obito

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Probably one of the reasons is that they want to make sure that the money didn't come from an illegal activity, but given that it's a slot game, I don't think that it's really their business to ask for your income because they're the one who provided you with the money. Another much nefarious reason that I can think of is that they're probably trying to keep the wins inside their casino, a lot of them do this just so the money doesn't benefit anyone even if they win.

michellee

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I do not think that happens to all casinos because as long as you do not reach your maximum withdrawal limit, you can withdraw your money instantly and see the confirmation on the network. Some casinos will apply verification by doing KYC on their members, especially if they want to withdraw big money because the casinos do not want to get a problem by the authority. It is your job to find which casinos that have instant withdrawal by reading all material here to find it. Maybe the other reason will be there as that will depend on the casinos.

ralle14

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That's because casinos have the right to ask for the information they need and these delays usually happen when gamblers request a big withdrawal. Unfortunately, that's one of the downsides of crypto casinos since they mostly don't require KYC after registration. Then again it depends on the casino or the player since there are cases where the player gets caught breaking one of their rules by using a VPN. As long as you stick to reputable casinos you should rarely experience any delay, it only becomes inevitable when you're a high roller.

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Quote from: Accardo on January 14, 2022, 12:30:05 PM

Why is it that when a player wins and wants to withdraw their winning the casino will begin to ask for info like source of funds, KYC etc.

Some reasons are:

- Simply, just a verification
- Big wins that require KYC might be on the terms

If it's on the terms, we should not complain about it. Ignorance of the terms excuses no one. But don't worry about that since it's not that your $100 will be subject right away for KYC unless verification is necessary to do on that gambling.

Topic: Why do Casinos ask for so much during withdrawal? (Read 376 times)