Zero KYC tolerance gambling platforms - page 10.

Webetcoins

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Casinos are implementing it for the benefit of both parties. It will a good way to control money laundering because casinos are protecting their reputation against scammers and launderers. We might doubt it since we're going to provide our personal details but it will help us have assurance when it comes to security. It could stop illegal activities as well.

Benefit of the casino only you mean. Money launders can't harm the players inside the gambling site but they can only harm the reputation of the casino and the casino don't want that to happen because that can affect their business.

Scammers can be avoided easily because their tactics are now very common to detect but if there are gamblers who still got scammed then it must be their fault already because they are too dumb or they don't read information online if how to avoid them. Submitting KYC doesn't automatically make you secure. I've seen lots of sites which has a KYC and they still got hacked. It will only add up to the headache of the customer.

Darker45

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KYC verification is very important to crypto gambling sites because their operations depend on it to a certain extent. They are bound to follow the rules which they agree with when they registered and secured their license.

I don't think the same crypto gambling sites would implement KYC if they're not compelled by regulations. While they comply, they're probably hesitant. After all, it is quite ironic for them to ask for personal information when they're involved in crypto.

Anyway, please refer to this very helpful thread by Mahdirakib as regards verification requirements among crypto gambling platforms.

ethereumhunter

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Quote from: kotajikikox on October 19, 2022, 11:44:30 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

If I were you mate? best to embrace that KYC thing when you gamble in crypto because this will add security ,and also as Only few legit casino remains that does not implement regulations about KYC as they are required? or they are requiring their players specially when there is a big withdrawals.

but either way, Best to comply once asked or let your funds be there forever Grin

If he played in a trusted casino, maybe doing KYC would be okay and could protect him by providing security for the customers. But I think the situation will be different if he plays in a casino that doesn't know if it's trusted or even if the casino is new because those will have a risk. After all, we have seen many examples of cases.

Yes, maybe it's better to obey the rules of the casino so that it won't give us problems later, especially if we want to withdraw the money.

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Quote from: OgNasty on October 19, 2022, 05:40:32 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

I think that pretty much every industry would rather not have to deal with regulations if given the choice. It takes their time and costs them money to develop solutions. Not to mention additional staff to enforce these solutions. So I doubt they do it because they like to go through additional steps to run their businesses. You have to be legal if you want to stay in business though, so it is what it is.

Yeah but they can't stay away from the regulation. I meant they can be taken down anytime as per request by the regulators. There's no choice rather than dealing with it. The fact that if these days people were not having a lot of choice rather than being fully compliant with regulation that already issued by the regulators. I think that the platform understand and that's why they were implementing KYC

nakamura12

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KYC is not very important for gamblers if I say about it but for gambling sites, KYC is very important if they really are following the regulation if they are a licensed gambling site which there is a rule that they had to follow. One of it is avoiding their gambling site to be used as a platform for illegal matters such as money laundering. I am sure that you know that money laundering is illegal which is why they have to implement KYC and required KYC if a gambler withdraw a huge amount of money from their platform.

akuntester1

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

Yes of course, for now the KYC verification process is important in almost all popular gambling sites.
Almost all countries have regulated the KYC process, an important requirement for registration or withdrawal of assets on gambling sites.
As far as I know, the current KYC process is like a standard for gambling sites to make regulations for gamblers or their clients.
In addition to the process of identifying the customer's age and authenticity of identity.
In this digital era they also want to minimize customers who use crypto assets as shields for illicit activities,
such as money laundering, corruption, terrorism financing or other illegal activities.

coin-investor

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

It's for regulation and compliance, a casino that is abiding by existing regulations and is compliant with their license is trustworthy and reputable, they ask for KYC so they will not accuse of entertaining money launderers and they respect the laws of every country so they do not accept gamblers from countries where gambling is illegal, you can hardly find one that is KYC tolerance if there is, you have to check their reputation, they cannot be compliant and at the same time reputable and legal.

EarnOnVictor

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Quote from: OgNasty on October 19, 2022, 05:40:32 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

I think that pretty much every industry would rather not have to deal with regulations if given the choice. It takes their time and costs them money to develop solutions. Not to mention additional staff to enforce these solutions. So I doubt they do it because they like to go through additional steps to run their businesses. You have to be legal if you want to stay in business though, so it is what it is.

As much as I love to do my KYC to avoid problems, I still avoid the casinos that would allow me to deposit without it so that they could disturb me later. Such practice annoys me sincerely, and I want you to know that many of them are under jurisdictions where gambling regulations are weak, they only use KYC to cover up. And some only registered without a regulator but still ask for your KYC because they are looking for accounts to block and money to steal, not that they care about any law.

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Quote from: kotajikikox on October 19, 2022, 11:44:30 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

If I were you mate? best to embrace that KYC thing when you gamble in crypto because this will add security ,and also as Only few legit casino remains that does not implement regulations about KYC as they are required? or they are requiring their players specially when there is a big withdrawals.

but either way, Best to comply once asked or let your funds be there forever Grin

Some people want to keep themselves anonymous in playing gambling also personal details now is hard to give due to have different connections into our accounts such as social media, back and etc. that's why some of them would like to prevent playing with KYC but now some of the gambling casino only providing a level 1 KYC so you don't need to submit some of the information can be use, but having a KYC is one of the factor today in terms of having trouble with their account that's why its more convenient to use as verification for the users, to prevent too getting abuse the current system.

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Quote from: Slow death on October 19, 2022, 06:06:46 PM

From what I understand companies that handle customer money are forced by governments to require customers to KYC to make it easier to prevent customers from laundering money, but what I wonder is if governments do inspections on these exchanges or casinos. So that I really know if the casino or exchange is complying with KYC or not. this is a question i have been asking myself

I can briefly summarize how this works in my country (Central Europe).

As soon as you withdraw the coins (i.e. exchange them for EUR and deposit them at a bank), checks are run for certain amounts, starting at €100 at some banks. The banks want an exact list of where the money comes from and also check this in detail. If a gambling platform appears in the list and does not require KYC, the entire deposit can be blocked, so you can no longer get your money.
By the way, the same can happen to you if you use a mixing service ...

kotajikikox

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

If I were you mate? best to embrace that KYC thing when you gamble in crypto because this will add security ,and also as Only few legit casino remains that does not implement regulations about KYC as they are required? or they are requiring their players specially when there is a big withdrawals.

but either way, Best to comply once asked or let your funds be there forever Grin

Poker Player

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Quote from: wxa7115 on October 19, 2022, 11:17:54 PM

Casinos especially those which have a good reputation to uphold most likely will ask for your information at some point in time if you bet enough money on their platform.

I know that many people are not really happy about this as they were used to gamble anonymously for years in this market, but things are changing and this is a trend I do not think it is going to be reversed any time soon, and we do not really have any other option but to adapt to it.

Reversed? Well, I think it will be exactly the opposite. As the years go by, casinos that do not require KYC will be reduced to a minimum, if not disappear altogether.

We come from a time when Bitcoin and cryptocurrency casinos were like the Wild West, but as civilization progresses, there is more control.

wxa7115

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

Casinos especially those which have a good reputation to uphold most likely will ask for your information at some point in time if you bet enough money on their platform.

I know that many people are not really happy about this as they were used to gamble anonymously for years in this market, but things are changing and this is a trend I do not think it is going to be reversed any time soon, and we do not really have any other option but to adapt to it.

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Quote from: OgNasty on October 19, 2022, 05:40:32 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

I think that pretty much every industry would rather not have to deal with regulations if given the choice. It takes their time and costs them money to develop solutions. Not to mention additional staff to enforce these solutions. So I doubt they do it because they like to go through additional steps to run their businesses. You have to be legal if you want to stay in business though, so it is what it is.

I also think the same thing, what can refute a good gaming platform is the annoying KYC, and if any casino gets rid of that annoying thing, it would be almost a feat, but seeing how the whole trend is going in casinos, regulations, new rules, the acceptance of crypto in the world will be something very difficult to do, thanks to such regulations is that we can say that a casino that has few rules due to its KYC is really almost impossible, I trust the casinos that have more reputation , but it scares me to trust casinos that are new and that can make a scam from one moment to another and keep my data.

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Quote from: DoublerHunter on October 19, 2022, 06:19:31 PM

Quote from: OgNasty on October 19, 2022, 05:40:32 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

I think that pretty much every industry would rather not have to deal with regulations if given the choice. It takes their time and costs them money to develop solutions. Not to mention additional staff to enforce these solutions. So I doubt they do it because they like to go through additional steps to run their businesses. You have to be legal if you want to stay in business though, so it is what it is.

^Definitely right and legalities are the most successful business now in any business field.
If you want to stay in that business in a legal way, it is a part now to have a KYC to follow in which jurisdiction you become legal. Let us accept the fact that from now on, KYC or centralized gambling asks for KYC and we have nothing to do with this. All we have to do is to pick a gambling casino that has a reputation where we can entrust our personal information.

Once you do sent out your information or docs on a certain platform then you should had accepted the risk involved for possible exploits and exposure of those information throughout the net.

It might not happen precisely but we know that odds or chances is there which i cant really blame out other people on not to mind off about these particular scenarios or conditions.

KYC is already been turn out to be a standard procedure.Any business been built would really be subjective on regulation which simply means that they are following
certain rules which they do really need to apply out.

DoublerHunter

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Quote from: OgNasty on October 19, 2022, 05:40:32 PM

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

I think that pretty much every industry would rather not have to deal with regulations if given the choice. It takes their time and costs them money to develop solutions. Not to mention additional staff to enforce these solutions. So I doubt they do it because they like to go through additional steps to run their businesses. You have to be legal if you want to stay in business though, so it is what it is.

^Definitely right and legalities are the most successful business now in any business field.
If you want to stay in that business in a legal way, it is a part now to have a KYC to follow in which jurisdiction you become legal. Let us accept the fact that from now on, KYC or centralized gambling asks for KYC and we have nothing to do with this. All we have to do is to pick a gambling casino that has a reputation where we can entrust our personal information.

Slow death

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule?

From what I understand companies that handle customer money are forced by governments to require customers to KYC to make it easier to prevent customers from laundering money, but what I wonder is if governments do inspections on these exchanges or casinos. So that I really know if the casino or exchange is complying with KYC or not. this is a question i have been asking myself

Quote from: Z390 on October 18, 2022, 03:53:10 AM

Where can one gamble with zero verification requirements?

nowadays thinking that you are going to create an account at a casino and they will not ask you for KYC even if the casino is not asking for KYC at the time of creating an account and they would only ask if they detect any suspicious activity and it is a mistake to relax and think that you will not do KYC, whenever you create an account at the casino you have to be prepared to do KYC

OgNasty

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

I think that pretty much every industry would rather not have to deal with regulations if given the choice. It takes their time and costs them money to develop solutions. Not to mention additional staff to enforce these solutions. So I doubt they do it because they like to go through additional steps to run their businesses. You have to be legal if you want to stay in business though, so it is what it is.

Johnyz

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

Regulations are the best reason why they slowly implementing KYC on their platform. A site might be ok not to put any KYC at first but upon reading most of the terms and conditions, they are requiring KYC if you are going to transact big money with them and that is because of the regulations and protection for the site itself. KYC slowly becoming one of the requirement, better to learn how to deal with it.

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Quote from: Z390 on October 18, 2022, 03:53:10 AM

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

While there are non-KYC online gambling casinos which have provably fair decentralized protocols handling the chain. So this way there is no third party present and gambling regulations take a dive into a grey area. But nobody can guarantee that you will not lose your money due to a hack or something.

That being said, the KYC not only protects the online casino but also you, in the case that something goes wrong or your money goes missing. You can prove that money belonged to you and the centralized casino will be responsible, legally, for paying you back.

But reality is often different. So you need to understand that both options have risks and choose the best option for you.

Topic: Zero KYC tolerance gambling platforms - page 10. (Read 4768 times)