I think casinos are starting to adopt KYC as a way of protecting their site from illegal activities or investment. Since government saw the opportunity of using cryptos to hide money from corruption, sooner they will implement requiring of records from different exchanges as well as gambling site to prevent illegal activities. I also see that sooner full adoption of digital currency will take place so government needs to put some regulations for it.
Well, if we are trying to look at the aspect of the government regulation and how that may affect some of the gambling site as well, which is the reason they are taking the precautionary measure of the KYC thing, then that may stand, but in the literal sense, it really does not mean anything. Gambling site is not like an exchange and it is not like I can buy bitcoin and gamble directly there with fiat, unless I am missing something with the whole idea of KYC policies. 
Topic: Why kyc is even required? - page 4. (Read 688 times)
what??? its strange for me, last time i win big in fortunejack i can withdraw without any kyc requirement, that why i like fortunejack... and why we should gamble with bitcoin if we are still asked to give our identity... that's the difference between fiat and bitcoin in terms of gambling
i also donot understands need the kyc registration or verification required to release funds, i heard also as bonuty hunter the particpants need to fill up kyc before comfirming to recieved their rewards, the user are not secured their identity fro the personal security.
it is because some countries like south korea forbid bitcoin and ico, so the developer will use kyc to see where the investor/bounty hunter came from ... 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?
We know that it is money involved and when money involved we must also needs about our Ids or much better identities. When you go in banks and you will cash out huge money we need many papers of requirements and our identity is much needed. I think it is like that although we call this online but on the other side this is also about companies and they also needs identity in order for you to get your money. For me this is not wrong since I have no bad records.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?
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?
I have asked myself this question several times as well since it is not like the gambling sites are being regulated or something. I am not sure how the legal aspect of most of these gambling site works, but the main reason like you have said which most people decided to move into gambling cryptocurrency is mainly because of the anonymity and those one totally tell otherwise unless of course, based on the country of server, this is something that is very necessary. 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 also donot understands need the kyc registration or verification required to release funds, i heard also as bonuty hunter the particpants need to fill up kyc before comfirming to recieved their rewards, the user are not secured their identity fro the personal security.
I think kyc is implemented for our protection as well as the gambling site, since we were not regulated our earnings might be at risk if government will ask us how we get it and we cannit show any proof or documents that it is from winnings rather than illegal activities. With the use of KYC it is now easy to verify winnings and of course legality if our money.
They won't force you to play gambling which ask for KYC,this is mostly happen in the gambling sites of China and USA.Rest of the country gambling sites will not require such KYC.If you not want to submit the documents just switch over the sites which not asking KYC.
Yes For now, but I think many gambling sites will follow for that kind of requirement as they required to do so since the government will run after them if they don’t implement it. KYC is ok but we must maintain the security of every gamblers who wants to remain anonymously which is slowly changing, well the decision will still on the gambler if they continue to play.
They won't force you to play gambling which ask for KYC,this is mostly happen in the gambling sites of China and USA.Rest of the country gambling sites will not require such KYC.If you not want to submit the documents just switch over the sites which not asking KYC.
Ya mate.Who force you to play such gambling, for that you can choose the rest. I hope you understand now.It's your hard earned money so you have all rights to bet on anysites.It may accept KYC or may not.
The decision is based on your own wish.Now there are enormous number gambling sites choose the best among them.
They won't force you to play gambling which ask for KYC,this is mostly happen in the gambling sites of China and USA.Rest of the country gambling sites will not require such KYC.If you not want to submit the documents just switch over the sites which not asking KYC.
Most casinos like fortunejack require kyc if you win a huge amount some sportsbook also ask for kyc
I have never heard fortunejack asked anyone for ID's, no matter how big win it was. Why is this even necessary bitcoin gambling exist so that we can gamble anonymously
Do you think casinos which are enforcing KYC give a damn about your anonymity?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?
Life is not fair. Don't play on such casinos, there are plenty casinos which are not enforcing kyc. Is it even fair?
Why would you even play in casino's like that? It's just a huge pain to deal with and will cause you so much delay on withdrawing your winnings.
You really do have a lot of choice between other casinos that don't have such requirements.
Crypto-Games for example just lets you withdraw instantly, even if you win big.
I like crypto games no doubt about that I used to be an investor on that site they used to take some fees for cancelling early which I never liked but everything else was perfect about the siteYou really do have a lot of choice between other casinos that don't have such requirements.
Crypto-Games for example just lets you withdraw instantly, even if you win big.
That's why this thread is created why wait for 3 months just to get our deserved winnings
I, too, am shocked that they are requiring this nowadays. It has only been awhile since they ventured into having KYC in some gambling sites. As for me, this is a politicking move because they can just bar a gambler they do not like to associate themselves with through the site.
I am not really disappointed but I am seeing this as a major move considering very well that cryptocurrecnies' business is highly imbued with supreme anonymity. To include KYC is tantamount to doing away with how cryptos are supposed to be. This may be a sign of some regulation that is being cooked. For now, we have to see if this is just an initial step forward or if this will lead to unleashing of personal details. Nevertheless, this will not be good especially to those investors who heavily relied on the crypto's anonymity.
I am not really disappointed but I am seeing this as a major move considering very well that cryptocurrecnies' business is highly imbued with supreme anonymity. To include KYC is tantamount to doing away with how cryptos are supposed to be. This may be a sign of some regulation that is being cooked. For now, we have to see if this is just an initial step forward or if this will lead to unleashing of personal details. Nevertheless, this will not be good especially to those investors who heavily relied on the crypto's anonymity.
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?
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 think the new requirements kyc registration for bitcoin user or gambling site bitcoin user, is for the security porpuse of the owner's because if I'm not wrong have an powerful state requiring login into kyc to monitor the anti money, I think nothing to worry on that matter because I think that is secret can't show to the public your identity.
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?
Most likely casinos will ask for KYC maybe because they to prevent money laundering. Some of gamblers gamble money which came illegal means and they want to make it clean by playing in the casino. That is why the casino want to know who are their customer. 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?
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?
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 think the new requirements kyc registration for bitcoin user or gambling site bitcoin user, is for the security porpuse of the owner's because if I'm not wrong have an powerful state requiring login into kyc to monitor the anti money, I think nothing to worry on that matter because I think that is secret can't show to the public your identity.
I think casinos are starting to adopt KYC as a way of protecting their site from illegal activities or investment.
It's a mandate that they have to follow so they are passing the law to their gamblers. I'm curious how can they protect their site from illegal activity? what's the connection of KYC with it?
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?
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 think the new requirements kyc registration for bitcoin user or gambling site bitcoin user, is for the security porpuse of the owner's because if I'm not wrong have an powerful state requiring login into kyc to monitor the anti money, I think nothing to worry on that matter because I think that is secret can't show to the public your identity.
I just wonder what would a gambling site do with those documents they require related to KYC.
They can keep it and store it as their evidence if something goes wrong. Just like other websites or establishments that are requiring some documents for their services but when they are done, nothing happens as its only stored to their database / vaults.It would just make the process of payment (of winnings) longer.
As others explained, their government maybe requiring it or they are pushed to implement it and they just want to obey and protect their business.For sure anyone would think twice of submitting their personal infos to those gambling platforms.
But if its your money to cash out, you have to follow.It is because now a days most of the companies are auditing, so in this case they need to get clear idea about how much investment and through whom they are getting. While maintaining those it will safeguard for future transactions.
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?
Never heard that Fortunejack requires KYC for $2000 profit, could you please show me the link where you read it? As I just visited their terms to make sure about it but I did not find it, maybe I missed it as it is so long terms to read.
They generally ask for KYC when the withdrawal amount exceeds than the deposit amount of user by large. Though they call it for security reasons, they are actually troubling the winners. They have no security issues for people that deposit large and loose.
I happen to win a jackpot in FJ but they don't require me to submit my ID, though I believe this is for following the regulation of certain countries since every country have different rulings regarding gambling. And if ever they asked for kyc documents probably they had found some suspicious activity from the players account. I do not care if I have to submit my kyc documents, I had submitted a kyc to our local exchange platform anyway.
whatever the reason why most of the people prefer to play in cryptocurrency accepted online gambling sites means to hide there identity.
as you said every country has there own rules and regulations regarding gambling and cryptocurrency. maybe in your country, there are no strict rules for crypto users so you don't care to submit your KYC. but in other countries, the rule is different if they caught that they are playing gambling with cryptocurrency maybe what punishment they will get I don't know. So better we can avoid this kind of gambling sites we have many good sites those who not ask KYC.
When did fortunejack started this? I guess I might have missed alot. I used to gamble in that site months back, cause it was one of my favorite site but i stopped for sometime to manage my gambling habit; then they never required any identify verification. If this is true, I don't think its worth it then because most people like me come online to gamble because we want to remain anonymous when gambling the way we love it. With this, it's more like gambling in an offline casino.
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