KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
The other reason why KYC is needed is to prevent money laundering and to know who are the people that uses their service. It is also a way to identify if these gamblers are real or bots so that the gambling site management will know if the account is not a dummy one but I still can't get it why others need to do it while some doesn't require it.
Topic: Why kyc is even required? - page 2. (Read 688 times)
KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
The other reason why KYC is needed is to prevent money laundering and to know who are the people that uses their service. It is also a way to identify if these gamblers are real or bots so that the gambling site management will know if the account is not a dummy one but I still can't get it why others need to do it while some doesn't require it.Of course every website must declare KYC on their withdrawal rule at first so people will understand the situation.
AFAIK, with current situation, people yelling why suddenly they must give KYC when they request withdrawal ( mostly in high value transaction )
Although most bitcoin gambler want to be anonymous but we must keep obey gambling site policy !
KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
The other reason why KYC is needed is to prevent money laundering and to know who are the people that uses their service. It is also a way to identify if these gamblers are real or bots so that the gambling site management will know if the account is not a dummy one but I still can't get it why others need to do it while some doesn't require it.KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
The other reason why KYC is needed is to prevent money laundering and to know who are the people that uses their service. It is also a way to identify if these gamblers are real or bots so that the gambling site management will know if the account is not a dummy one but I still can't get it why others need to do it while some doesn't require it.KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
The other reason why KYC is needed is to prevent money laundering and to know who are the people that uses their service. It is also a way to identify if these gamblers are real or bots so that the gambling site management will know if the account is not a dummy one but I still can't get it why others need to do it while some doesn't require it. 
People would have been hesitant to undergo and submit their papers to undergo verification because this will expose their personal infos however in the long run this can benefit the client. This can serve as their protection if ever their accounts would be suspected. However gambling sites /industry should ensure the confidentiality of client's accounts. And that it should not be used to go against their rights
KYC in gambling is a nightmare for players. It won't benefit at all. To my knowledge, when a gambling site asks for the identity of the player, there must be something wrong with the user. For those of us who play normally, we do not have to worry that gambling sites will ask us for something similar.Yes, i agree, users who were asked of personal data for kyc have problem with their account, or have seen some suspicious behavior. I have been playing in different online casino, but I have never encounter or experience any sites that asked me to under go KYC.
From what I know KYC are only strongly implemented on exchanges and newly launch ICOs but I never heard of verification processes being asked in gambling sites. I have been a long time player in many sites especially FortuneJack and they never asked or required me to send valid ids to verify or access my account. But to answer your question KYCs are being asked by exchanges and security tokens because it is one of their requirements given by the government.
You might have not been asked because either your overall gambling stats is a loss or you didn't make much profit , not sure if you are living under a rock but check fj owner feedback always delaying payments with huge amountsPlus read what I wrote we are talking about gambling here not exchanges
From what I know KYC are only strongly implemented on exchanges and newly launch ICOs but I never heard of verification processes being asked in gambling sites. I have been a long time player in many sites especially FortuneJack and they never asked or required me to send valid ids to verify or access my account. But to answer your question KYCs are being asked by exchanges and security tokens because it is one of their requirements given by the government.
Sooner every platform will require KYC because the government will be strictly looking at compliance to whatever business who use bitcoin. However, there are some casinos who suddenly implent KYC especially if you are winning a big amount of money which will just
make winners getting frustrated.
From what I know KYC are only strongly implemented on exchanges and newly launch ICOs but I never heard of verification processes being asked in gambling sites. I have been a long time player in many sites especially FortuneJack and they never asked or required me to send valid ids to verify or access my account. But to answer your question KYCs are being asked by exchanges and security tokens because it is one of their requirements given by the government.
Sooner every platform will require KYC because the government will be strictly looking at compliance to whatever business who use bitcoin. However, there are some casinos who suddenly implent KYC especially if you are winning a big amount of money which will just
make winners getting frustrated.
From what I know KYC are only strongly implemented on exchanges and newly launch ICOs but I never heard of verification processes being asked in gambling sites. I have been a long time player in many sites especially FortuneJack and they never asked or required me to send valid ids to verify or access my account. But to answer your question KYCs are being asked by exchanges and security tokens because it is one of their requirements given by the government.
KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
Yes with that they provide the safety of funds and to even secure the security of the account holder in a gambling site. This KYC is good for some reasons whilst it voids out the cryptocurrency's reason for being anonymous. Most casinos like fortunejack require kyc if you win a huge amount some sportsbook also ask for kyc
Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
because thats the way they can authenticate you as sole account in such ..they are requiring us so no one can use multiple accounts .and for security measures toWhy is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
And what security measure are you even talking about they claim to allow us to gamble anonymously then why kyc
Most casinos like fortunejack require kyc if you win a huge amount some sportsbook also ask for kyc
Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
because thats the way they can authenticate you as sole account in such ..they are requiring us so no one can use multiple accounts .and for security measures to Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
KYC serves as a protection not only for the clients but as well as the merchants or service provider. Gambling that requires this is one good things since the age and other things about the person must be known to avoid illegal things to happen.
Most casinos like fortunejack require kyc if you win a huge amount some sportsbook also ask for kyc
Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
Fortunejack won't ask for KYC if you didn't have a serious problem , I've been playing at fortunejack since 2014 and never asked for KYC even for once. I've heard several cases in fortunejack that they ask for KYC and its for security reason. The answer are for security reason generally. Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
I have only seen fortunejack asking for kyc to delay payments maybe they don't have sufficient cash to give out profits or they only want users who feed them funds and not take away their funds
Plus i'm telling the duration based on other players i have never gambled on that shit because of weird terms and if they really need my id i think as you are a part of their campaign you should suggest them to remove the word anonymous from their site
KYS means indetifies you as a person, as you are not a criminal or something. Many ICO's add this because of the regulations or just for more safety
Most casinos like fortunejack require kyc if you win a huge amount some sportsbook also ask for kyc
Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
Well, I am also curious about this because when they start about KYC almost all campaigns need this now and this is what I am really concerned how about those people who have not yet valid id or government issued id they will not ever participate in kyc campaigns. Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
People would have been hesitant to undergo and submit their papers to undergo verification because this will expose their personal infos however in the long run this can benefit the client. This can serve as their protection if ever their accounts would be suspected. However gambling sites /industry should ensure the confidentiality of client's accounts. And that it should not be used to go against their rights
KYC in gambling is a nightmare for players. It won't benefit at all. To my knowledge, when a gambling site asks for the identity of the player, there must be something wrong with the user. For those of us who play normally, we do not have to worry that gambling sites will ask us for something similar. Most casinos like fortunejack require kyc if you win a huge amount some sportsbook also ask for kyc
Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
Fortunejack won't ask for KYC if you didn't have a serious problem , I've been playing at fortunejack since 2014 and never asked for KYC even for once. I've heard several cases in fortunejack that they ask for KYC and its for security reason. The answer are for security reason generally. Why is this even necessary bitcoin gambling exist so that we can gamble anonymously and not pay any tax on our winnings or hide our identify if we win a huge amount then why do many sites still ask for kyc
Is it even fair?
I have only seen fortunejack asking for kyc to delay payments maybe they don't have sufficient cash to give out profits or they only want users who feed them funds and not take away their funds
Some believe that KYC won't even be tenable with the lightening network on BTC https://www.finder.com.au/lightning-network-incompatible-with-kyc-andreas-antonopoulos and there isn't a single crypto gambling site doing KYC anywhere. Know your customer has to be legally undertaken for AML compliance reasons BEFORE your business accepts any funds. This is not the case with any of these brands. Why is there logically a limit for a site like bitstarz or bitcasino to KYC for regulatory reasons? There isn't any logic behind it apart from it being a safety net to limit them from losing money to fraudsters or double depositors etc.
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