Why do Casinos ask for so much during withdrawal? - page 2.

Oilacris

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Quote from: timerland on January 14, 2022, 06:43:41 PM

Quote from: dunfida on January 14, 2022, 04:56:05 PM

Quote from: timerland on January 14, 2022, 04:50:56 PM

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?

Mostly because of malicious reasons, to be honest.

It makes no sense for a casino to not conduct KYC procedures when you sign up and all of a sudden force it upon you when it comes to time to get your money back.

That is a predatory tactic, and I think that everyone needs to recognize that. It's just an excuse used to hold your funds for much longer than what is necessary for cash flow reasons.

When a gambling site specially new having this kind of behavior then it wouldnt last because once the community or public do knows on what they've been doing then its the ending
of their reputation and this site will slowly die which is a very common scenario to happen not like on dealing with gambling sites which does have name and reputation
on where you could really confidently trust them with your funds on where you could pull it off without any problems or strings attached.

You'd actually be surprised.

A lot of websites have these T&Cs hidden away so that they are able to carry on their business despite many complaints against them on the KYC front.

Also, you'd be surprised just how many people are unwilling to do their research before choosing a site to play on, which is what allows these casinos to continue operating.

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.

timerland

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Quote from: dunfida on January 14, 2022, 04:56:05 PM

Quote from: timerland on January 14, 2022, 04:50:56 PM

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?

Mostly because of malicious reasons, to be honest.

It makes no sense for a casino to not conduct KYC procedures when you sign up and all of a sudden force it upon you when it comes to time to get your money back.

That is a predatory tactic, and I think that everyone needs to recognize that. It's just an excuse used to hold your funds for much longer than what is necessary for cash flow reasons.

When a gambling site specially new having this kind of behavior then it wouldnt last because once the community or public do knows on what they've been doing then its the ending
of their reputation and this site will slowly die which is a very common scenario to happen not like on dealing with gambling sites which does have name and reputation
on where you could really confidently trust them with your funds on where you could pull it off without any problems or strings attached.

You'd actually be surprised.

A lot of websites have these T&Cs hidden away so that they are able to carry on their business despite many complaints against them on the KYC front.

Also, you'd be surprised just how many people are unwilling to do their research before choosing a site to play on, which is what allows these casinos to continue operating.

TimeTeller

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Quote from: nurilham on January 14, 2022, 06:04:56 PM

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.

First of all, what casinos do you mean? Online casinos or physical casinos?
If you mean online casinos, not all casinos platforms do the same way. Some casinos may not really care about your source of funds, but for KYC it is normal to ask by them. Even centralized crypto exchanges, also require KYC for their members. The purpose is not only to secure the funds, but the KYC is a basic thing to have by common platforms nowadays. Anyway, if you don't pass KYC, you can move to other casinos which never require KYC, if any.

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

But they careless about asking for those information when the player is losing money in the platform.

What for? They won't send money to the losers. Huh

Maybe, if you have big winnings, why not try withdrawing smaller funds at intermittent intervals?
Because if you do really withdraw all at once, the casino may really notice your account.
Most casinos have their ToS stating that they will require verification if it deems necessary.
In this case, it is their prerogative to ask the player if for them, your account suddenly withdraw large amount.
As a player, as much as possible don't make any reason that will make the casino suspicious about your account.

adzino

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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?

Not all casinos are like that. And not all withdrawals are getting stuck. There are thousands of players playing in the casino, depositing and withdrawing and you only see like 1 or 2 posts about the casino blocking their withdrawal and asking for details. They usually do it when the see something suspicious about their deposits or their account. And they only ask it when withdrawing is because they can only detect that after you make the deposit. Make sure you read their terms of service before making any deposit. Always be prepared to go through KYC if it is a licensed casino.

nurilham

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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.

First of all, what casinos do you mean? Online casinos or physical casinos?
If you mean online casinos, not all casinos platforms do the same way. Some casinos may not really care about your source of funds, but for KYC it is normal to ask by them. Even centralized crypto exchanges, also require KYC for their members. The purpose is not only to secure the funds, but the KYC is a basic thing to have by common platforms nowadays. Anyway, if you don't pass KYC, you can move to other casinos which never require KYC, if any.

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

But they careless about asking for those information when the player is losing money in the platform.

What for? They won't send money to the losers. Huh

Yogee

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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.

ANY IDEA?

The answer is in their terms and conditions. Read them if you really wanted to know. Most states that they may ask your personal information if they see it necessary so that means you are free to deposit and play as long as your betting patterns doesn't look suspicious to them and you're not violating their AML policies.

passwordnow

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Quote from: mirakal on January 14, 2022, 04:50:09 PM

Some gambling sites used KYC issues to scam gamblers. I have been playing with my favorite gambling sites and their withdrawal processing time are almost instant. It really depends on the site's reputation, some are good while some are bad.

I agree those that are reputable won't give you a headache and their withdrawals if not instant, almost instant. This issue of withdrawals is more with the newer casinos that won't just allow you to get into the automated process of withdrawals because they're still new and probably lack funds. But if a reputable casino delays your withdrawal and you're pissed off, you have to bear with their process or else your funds will be held by them.

agustina2

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

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.

If the site involves is not popular, I can say that case is happening most of the time there. But if the site involved is popular and trusted, maybe there are few but overall, withdrawals are processed without a problem. I think there are no instant withdrawals now. Here in Stake, it's not instant but withdrawals are confirmed within just 10-15 minutes on average.

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.

Same response as above if the site involved is popular or not.

There are really times that KYC is needed but only for big wins. If for small figures for let's say below $10,000, I think no KYC will be triggered. It's just for assurance that everything is fair and square.

dunfida

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Quote from: timerland on January 14, 2022, 04:50:56 PM

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?

Mostly because of malicious reasons, to be honest.

It makes no sense for a casino to not conduct KYC procedures when you sign up and all of a sudden force it upon you when it comes to time to get your money back.

That is a predatory tactic, and I think that everyone needs to recognize that. It's just an excuse used to hold your funds for much longer than what is necessary for cash flow reasons.

When a gambling site specially new having this kind of behavior then it wouldnt last because once the community or public do knows on what they've been doing then its the ending
of their reputation and this site will slowly die which is a very common scenario to happen not like on dealing with gambling sites which does have name and reputation
on where you could really confidently trust them with your funds on where you could pull it off without any problems or strings attached.

timerland

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Activity: 1526

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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?

Mostly because of malicious reasons, to be honest.

It makes no sense for a casino to not conduct KYC procedures when you sign up and all of a sudden force it upon you when it comes to time to get your money back.

That is a predatory tactic, and I think that everyone needs to recognize that. It's just an excuse used to hold your funds for much longer than what is necessary for cash flow reasons.

mirakal

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Leading Crypto Sports Betting & Casino Platform

Some gambling sites used KYC issues to scam gamblers. I have been playing with my favorite gambling sites and their withdrawal processing time are almost instant. It really depends on the site's reputation, some are good while some are bad.

Lanatsa

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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?

This is only applicable into those casinos which are shady and not known because generalizing something like this on each casinos existing wouldn't be valid because we know that
there are popular ones which doesn't really have any issues about withdrawal that's why its just sensible that you would really be looking after
with these gambling sites.

Don't stick out into unpopular ones because these problems do only exist into those sites which does have low in popularity.So its just common
sense that you would go for the best and not the shittiest ones.

magneto

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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?

There are two reasons:

- AML etc. only kicks in as due process if you are looking to withdraw; if you just lost all your money to the casino obviously you don't have a prospect of laundering money per se.
- The casino is greedy and wants to attract as client base as possible, and the way they can most effectively do that would be to allow deposits to come in without KYC but restrict all non-KYC withdrawals.

Truth is probably somewhere in between.

DoublerHunter

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Quote from: dothebeats on January 14, 2022, 03:44:40 PM

Some of them need to comply on KYC and AML regulations, hence why they require you to submit such documents before you can withdraw your funds. However, there are still a lot of cryptocurrency casinos and gambling platforms that do not ask for these, so I don't see where you're coming from with the 'complaints' that you have read. Perhaps on the withdrawal fees and the delay on the system of the platform itself, but not necessarily on things that you have mentioned.

^ The bolded part above is the right answer, just because of the KYC/AML compliance, and asking more KYC upon withdrawal is probably the main reason. They are following the government's rules and we know the government has been combating money laundering since the start and until now. The reason could be about KYC since the gambling platform casino has a license.
However, there are some gambling casino that has a quick withdrawal, maybe because the amount is not just big.

dothebeats

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Some of them need to comply on KYC and AML regulations, hence why they require you to submit such documents before you can withdraw your funds. However, there are still a lot of cryptocurrency casinos and gambling platforms that do not ask for these, so I don't see where you're coming from with the 'complaints' that you have read. Perhaps on the withdrawal fees and the delay on the system of the platform itself, but not necessarily on things that you have mentioned.

AmoreJaz

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Quote from: jossiel on January 14, 2022, 03:31:06 PM

They're not careless about it when someone is losing. It's part of their rules and basically if you're seeing that they've asked you suddenly about KYC, maybe it's by the book.

You have to read the rules and how much they're allowing their users to withdraw without the KYC. And usually, they're only asking for KYC when there's a sudden surprise for the activity of the user's account. That's why choosing at the beginning where you're going to gamble is important.

and if the casino is known to be reputable, then, you don't have to worry about KYC. also, maybe the winnings are big and usually that requires to undergo the verification procedure before withdrawal. to be sure, one should always check their ToS, about their min withdrawal and other things. while there are some questionable casinos that really do ask KYC once their player wins, for the reason that they want to stall the payment of winnings or worst, they don't have funds or their bankroll will be depleted esp for small casinos.
but if you are in a known and bigger casino, just comply with their kyc and you will definitely get your winnings.

Silberman

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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?

I know that some may think this is suspicious but it makes sense, if you are just gambling and not withdrawing your money from the casino then there is not much of a reason to give attention to your account, this is also true if you are only withdrawing small amounts, but if you try to withdraw a big amount then things change, this does not mean the casino is trying to scam the customer but that now they will give them some attention and see if everything is fine, if that is the case then many casinos will allow you to withdraw your coins without too much trouble, but if they find something suspicious then that is when they will begin to ask some questions about your account.

jossiel

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They're not careless about it when someone is losing. It's part of their rules and basically if you're seeing that they've asked you suddenly about KYC, maybe it's by the book.

You have to read the rules and how much they're allowing their users to withdraw without the KYC. And usually, they're only asking for KYC when there's a sudden surprise for the activity of the user's account. That's why choosing at the beginning where you're going to gamble is important.

TinaK

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You generalized them and I think not all of them have the same problem when it comes to withdrawal.
Maybe before you will use that gambling platform ask first their customer service about this issue and make a clarification regarding this matter to avoid this trouble the next day. All in all, we should need to read the C&S first and then the FAQ because I'm sure there will be frequent questions there that we should know before using them.

Another reason could be, if the gambling platform has this KYC for sure they also follow government protocol which is anti-fraud or money laundering especially if you deposit and withdraw back just the purpose to mix your coin. Think first about the wager requirements before you do this.

ryzaadit

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To be honest, the story is really true.

That's why I really care to put such a big money on the casino, more than 1,000$ already a big chunk and you might get a problem in this case. I most time playing with some review experience from users not websites.

Sometimes this case is to make some delay, the most hatting situation while you got this problem and the balance is not deducted or they rejected your request due still finishing KYC. Guess what? to make you bet again and lose all the money.

My most recommended website withdraw a thousand $ without issue or KYC:
- Stake
- Duelbits
- Rollbits
- Roobet.

Topic: Why do Casinos ask for so much during withdrawal? - page 2. (Read 376 times)