Topic: Why do you want to play on casinos without KYC requirements? - page 4. (Read 778 times)

1. I dont care about money laundering, it do just happens not only on gambling platforms.
2. Cant totally stop yet youngsters would really be just simply faking out their age and even sending out their parents ID.
3. Sometimes its been used for scamming their users but of course it would depending on the platform you are dealing with.
4. Scamming who?
5. One of the benefits if trying out to identify the real owner
6. Government would be always having the say or their rules are absolute
7. Self exclusion is a choice
8. In speaking about restriction then it wont really be that applicable on most gambling sites.They would be
blocking regarding on country restrictions.

1. It's what we've been told but can we trust them? Whatever is written can be clean up by the makers, when the power belongs to centralized government anything is possible.

2. Under age gamblers still exists, it doesn't take too much to grab their papa or mama drivers license to pass any KYC verification and viola, they will start gambling in no time.

3. You are right, but it still doesn't make a lot of sense, if I am criminal, why would I choose to use a casino to make illegal transaction when I am not the owner of the casino? If you are looking for criminals disguising themselves as casino business runners it's always from the inside, probably the owners.

4. KYC can't reduce scamming, who is a customer going to scam on a casino? The house? That's not possible, the only reason why casinos ask for KYC is when the customers win a large amount and they want to withdraw it all or when the customer breaks the rules of the casino.

5. If KYC is already passed on a casino why the need for an hacker to hack such account? If they find their way into the account and they see that the owner already pass KYC they will take advantage of the account in little time and abandon it, so the real owner is free to take it back.

6. Yes it's necessary and I am not against it, the truth is the regulation is to safe people from getting rough handled by the casinos, that's why I don't like using a casino that's not regulated, if a regulated casino do something bad to their customers they can face charges by the law.

7. You are wrong, KYC verification has nothing to do with your gambling addiction, it's either your family and friend helps you or you get a therapy, seek for help somewhere else.

8. KYC verification can be used to enforce regional gambling restrictions, I think this is possible but limited to certain country and that's on the casino to reject every KYC from such region.

Have you also forgotten the negative side of kyc?
How trusted are you that those gambling site are not selling our identity and what if it's used for theft from their backend what would you do.
There are alternative to restore back account if stolen or hack from the original owner, some casino or gambling site do request for all the transactions hash of the regularly used deposit address and the last time you deposited or withdrawn from their platform this alone gets your account restored.

And also avoiding your personal data and government documents falling into the wrong hands. Any centralized exchange can be hacked, just like Poloniex demonstrated. And so can a DEX. But with a CEX, the problem is that they have files which could be used against you, for example identity theft, and after that comes much worse. I would not recommend it. Imagine waking up one day to discover you are a wanted felon in some foreign country and you owe people money because someone borrowed money with your ID. Really bad situation.

If you absolutely need to trade, use a good DEX.

I am not concerned with money laundering in this context. Held people accountable is a problem of the casino as business, not really mine as such. Accounts can be restored by other systems. They do not reduce addiction, just send it somewhere else. Enforcement of local rules is not really my problem, it is the law enforcing authority.

Overall, the only good reason is to reduce tax evasion, which I am not sure is "good" in all cases.

I was never against KYC verification, I have never been, because I know that I'm not doing anything wrong and if that isn't the case, there should be no issues as long as you know that the platform you are using is trusted and reputable and they won't misuse your personal identification. Some people are so much against it, I don't understand why. I know that it's good to stay anonymous and private with your activities but the same people would be seen using decentralized exchanges after completing their KYC verification.

And, there will soon be a time when almost every single person will be compelled to complete KYC verification if they want to make use of a certain platform or service online because everything will be regulated and authorities wouldn't allow no-KYC platforms to operate anymore after that point.

It's simple for me. I gamble for fun and I don't want to under go the hassle of going through a KYC just to have some fun.
Besides that there are risks of getting our KYC data leaked through hackers. The lesser sites we provide our KYC the lesser the risk.

The simple answer to the question is privacy. People don’t want to give away their id verifications on random online casinos. Moreover in many countries Bitcoins or cryptos are not legalised, so they don’t want their id documents to get linked with crypto transactions. This is main reason for which many people hate to do KYC while playing on online casinos. But on the other hand casinos need to follow some protocols in order to know their each customers and their source of money. Hence if we see both sides have their own reasons for KYC and no KYC.

Your points are certainly logical. KYC at the casino offers many advantages. A gambler is especially wary of any kind of illegal activities. Because he knows that if he commits any crime there, he will be detected. While KYC has advantages, it also has disadvantages for gamblers who try to play anonymously. But the main reason crypto gambling became popular because of  anonymity. But when some bad people try to use this opportunity in reverse, the government tries to make KYC mandatory to control those people. If gambling company do not abuse KYCs then I think KYCs will not have much effect. But the question that many raise is that if KYC is made mandatory then what is the difference between fiat gambling platform and crypto gambling?

But, I think only a few users can follow these principles. Can not you see? A lot of CEX and centralized gambling platforms are still booming compared to the decentralized one's? It is like there is something on them that can't possibly be found on their decentralized counter parts but there must also be something that can only be found on the decentralized platforms.

This is why there are still a demand on them, even if it isn't that huge enough. A user can disregard some things as long as they can use their favorite platforms. I think this is the reason why these centralized platforms didn't bother on giving a proof that they are truly trusted in terms of data handling.

KYC really is not the true spirit of cryptocurrency and playing in a casino asking you for KYC identification is same as asking for your name, location and total identification that you can be trapped or traced which doesn't represent decentralisation system. Those who won't like that follow the real purpose. The purpose now is changing with the casinos that ask for identification because of regulation.

Although we do not have much options when it comes to choosing between KYC and NON-KYC casinos, but one thing which always worries me and it should be a concern for everyone who submitted their KYC documents that what if those KYC documents are misused by the casino ?

Yes, we believe that trusted and well reputed casino will have no such intentions but then the data can be hacked and it may reach to the people with criminals minds. We never know as how much they use that data and what financial damage can be done if that KYC data reaches criminal hands.

Also some people may want to hide this information that they are gambling but when they do KYC then they can be exposed as that data can be reproduced to any leqal entity on demand.

The main purpose of KYC on AML policy is to track gamblers after they do the money laundering not before because casino doesn’t care about the source wallet of the funds. It’s for recording purposes so that they can present evidence once a certain person that doing laundering is being trace by the authorities.

This why some user really hate KYC because they will leave traces once the authorities track them down. AML policy is the main reason why the casino ask KYC since they shouldn’t really care if their player launder if they will not be liable to the law by being accessory to the crime.

I haven't experienced yet and I have never read someone posted this, I think it's make sense since if the casino refunds back the money, the gambler will don't have to say that as his case is already resolved.

Usually it happens when the gambler want to withdraw their profit, the casino will do many investigation toward the accounts. Maybe the casino will reject and refund back the deposit money, if the gambler send a huge amount of money.

Does this really works? I mean how can this work properly, if a person is asked to pass KYC only after he wins and tries to withdraw his balance. I have never seen a casino sending funds back, because they were transferred from some kind of a "grey" wallet. I have never seen any casino refusing to accept gamblers funds because the origin of the funds is questionable.

Nonsense. Most gamblers gamble in the crypto world with the intention of earning big money anonymously. Why in the world would the site suspect an anonymous person earning big money when they can easily check his bet history?

KYC does help reduce illicit activity to some extent, but criminals will always find ways to circumvent it. Also, your KYC information is vulnerable to hackers in some sites.

I wonder what kind of protection does KYC provide?  The most it can do is to secure your account but it does not recover the fund stolen from that account.  What would you gain from getting back the account that is drained of its funds?

If you are talking about account ownership security, I think the security implemented on one of the threads here in Bitcointalk is much better.  By staking a Bitcoin address through a Bitcoin message, the staking of Bitcoin address can do the trick without sending our personal information to the platform.  If there is a dispute on the ownership of the account, sending a message from the staked address published on that thread can solve the problem.  I believe the effectivity of the ownership of the account is not different if the casino also implements staking of Bitcoin address instead of KYC.

I believe the use of money laundering as a reason why many casino platforms is asking for KYC is just a front for the regulatory board to pry on our financial activities within the casino platform.

I am sorry man, but what you just said does not make any sense. You just admitted that you believe a casino can be a scam, regardless whether they decide to ask you to submit KYC data about you, so what is the point of going through a process of differentiation between those casinos which ask for those documents and those which do not. ?
Scams and KYC only make sense in the same context if you are worried to be asked to submit your personal information by those scammers themselves, in that case then I can understand you would not trust anyone to hold your personal data.

However, as you said is a casino asks for KYC does not mean it is less or more likely to be a scam. In order to rule out a casino being a scam or not one is supposed to rely on other information: time they have got in the market, the volume they manage, how fast and reliable is their process of withdrawing funds, etc.

If that is your only reason for not to send your information to any casino, then you surely do not gamble in many places and only on one or two webpages. Nothing wrong with it, though.

Because I wanted to be more safer , at least less scam if the casino is asking for KYC though it is not 100% safe
because a scam will always be scam even if they are asking for KYC.

so you are a safety gambler mate? you wanted to play in casino that has complete document or License in which I believe best for not so private person but since many of us wanted to remain private then only few has your attitude.
But that is best to deal with in case  then there will never be a problem in the future not unless that casino even asking KYC is a scammer so best to deal with legit and secure casino.
also better if you will  only play in Older casino that has proven everything in good providing here in forum.