Bitcoin Forum

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?

It's strange they're asking for KYC now, this shall really dampen all gamblers spirt. I have two thoughts now

As a gambler I feel it's not good for KYC as it blows away the cover of being anonymous, if casinos are raided my cover is blown and that could be trouble.

As a Casino point i feel it's done to safeguard them so no other person can claim, secondly maybe their laws require them to clarify the payments.

This is a interesting debatable point and I feel that casino owners need to give clarification out here. We can't reach a conclusion without hearing them out.

Not all casinos are based on the same country, others have strict rules for online gambling. It's not fair to offer kyc because some of the most known bitcoin casinos here in the gambling section would let you gamble and withdraw a huge amount without having to submit your personal info.

Paying taxes depends on how and where would you cash out your bitcoin.

this happens too, when many people play gambling and justify any means to win, so gambling sites ask for kyc to avoid things that are not desired, like what? multiple accounts and others, essentially for security and comfort for all in gambling

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.

The country where they are operating might be requiring this for their own good.

When you experience to win big would you even care if its fair or not as long as you are doing everything that they are requiring when you are about to claim?

I just read there terms if you earn a profit of more than 2000$ you need to provide kyc and in today's value that is just 0.18 bitcoin which is so less , I saw scam accusations also against them for not paying a person winning amount of 6 bitcoin or something and finally he got after 3 months

even them they dont want to requipe it cuz they want more money but its out of controll cuz the gov requipe them to get taxes like us gov

KYC as you have said only applies on certain gambling sites and for some it applies when certain wagers are triggered or certain amounts of money is to be withdrawn and all this depends on which country the gambling house is located and what laws it adheres to.
kyc is a way to avoid huge fines when the law visits these gambling houses.

Even exchanges are required for the KYC due to transferring high amount on banking for security. If the gambling site is a centralized one even that site also will require KYC to file the taxation to avoid the Government related issue.
I am not sure about the decentralized gambling site and exchanges why asking about the private details most of them are not asking about the details.

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.

In the past usage of bitcoin and other altcoins into gambling is much low compared to the present. Maybe upon the increasing usage gambling authorities running the websites could have started the KYC as governments too have started regulating for taxation purpose.

If there is any place that KYC sounds ridiculous, its from the gambling site to me and I still don't see its usefulness. A lot of people will not gamble in physical location or a kiosk because of the way society views people who engage in such and then prefer to do it online because of the privacy online gives but with KYC from gambling sites it just seems that there is no difference.

Again, KYC is purely for those who want to launder money, I deposit big, took big risk then won big, how is that suppose to be a problem? But no matter how we are against it, there is nothing to be done about it because they also have to comply with rules and regulations of the industry they operate.

It might be possible to circumvent KYC by opening a gambling site whose servers are located on an island in international waters, which in theory, could be located outside the jurisdiction of nations attempting to impose taxes or KYC checks. ThePirateBay has done it for a long time. Crypto exchanges and gambling sites doing something similar could represent a natural progression.

In the future there could be a greater demand for infrastructure and services existing outside the jurisdiction of the centralized world. That type of independent competition could be necessary to produce innovation and industry advancement.

I would like to ask the same thing which i havent found out regarding into this information about such threshold which they do require KYC for a certain gambler.Ive been a player on the site itself but ever since i havent asked about any documentation even though i hit thousands of dollars is on involve.I dont know on where he do get such information.

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.

For some securities I think and yeah, if you make huge amount of money then they will require you to fill up the KYC form. This is the trend now and I think we cant stop this thing cause government are really trying to regulate cryptomarket so they can collect taxes. Crypto casinos are trying to comply with the requirements of government so they will have no problem in the future.

They required that for there own security reason.Maybe they want to make sure that if any problems will occur during that transaction you as costumer will part of it.example for this is money laundering

In some cases I would say that it's to avoid bonus abuse. Of course the the casino bonus are not very good, and they are almost impossible to fulfill, but if someone is allowed to attempt the bonus a thousand times with multi accounts and probably running bots, then they might succeed eventually, hurting the house.

Although this could be a reason, I would say that most of them are just trying to comply with anti money laundry rules, and avoid problems with regulation.

Never heard that they are asking for kyc well since bitcoin increases and there are lots of gamblers are fraudulent maybe they should need to require this bitcoin right now is valuable and its money so they only need for security reason.. Since we are in crypto no taxes deducted.. unlike gambling not in crypto and gambling that need kyc when register or need some Gambling ID before they can play those are need taxes when withdrawing money in your country. Honestly i still wanted the gambling casino before because they don't need KYC even you hit a jackpot but now looks like its getting worst remember we always need to be anonymous for privacy and safety of your documents..

That is why I started this I agree with you online gambling is preferred so people can have privacy but kyc is ruining the whole idea. I have also seen most casinos asking kyc because they claim to be registered but upon verifying they are not registered anywhere I'm just curious is kyc just used so that they don't have to give users their deserve profit

You mentioned most casinos asking for KYC to withdraw money. But I also played on Bitsler, FJ, primedice and couple of times withdraw decent amount but none of them asked me to provide KYC. Could you please provide the names of those casinos are asking for KYC with some proofs so that others can deal with those casions carefully.

I played in various gambling site but not once required kyc to play or to withdraw, KYC will ruined anonymity features that like by all gamblers, if it's true then the site will be left by the gambler and there won't be any difference with usual gambling site and its dangerous to just give your identity to gambling site

I bet all will require KYC in the future for certain amounts, as it happens with exchanges, and the same way you can’t have an unverified pre-paid bitcoin card above certain (ridiculous) limits.

Probably you are right, most big exchanges requires KYC these days and it could be implemented on bitcoin casinos as well in the future. Although I will not agree with it but what we can do if the casinos where we like to gamble requires us to do so. There are only two options if it will happen, stay at the casino or leave it.
The main important thing is that, anything related to KYC should be listed on the terms. If the terms does not say something about KYC then there is no right for the casino to ask players to do KYC.

Will depend still with how the government will deal with bitcoin, I think this will happen if all of those countries that cater bitcoin will announce their ruling and we can't deny to the fact that we needed to comply with them, as far as I see gambling company will need to accept the reality of following the rules
since it will legalized their business and they can deal much proper with the government that governing them.

We just needed to look for the best result of things that happening to this system, if this for the good of the house business they need to comply, just like how the exchange are beginning to comply and follow such rules.

Doing that unequivocal hands over to the authorities and whosoever that lays hand on those information, ability to monitor and track the spending of the person behind an account, by so doing, throwing anonymity out of the window.

For the sites that have sneaked in these requirements, because they were not there from the onset, they ought to come clean and bring the changes to the knowledge of their old and new clients because some people really mind their privacy and which is a major highlight of gambling with Bitcoin.

whether it is required or not to implement KYC, I say it I a huge downside for any bitcoin gambling site that actually implements it. because unlike exchanges, gambling sites do not work with fiat and one of the main attributes of these gambling sites is their privacy and for many gamblers this is why they even choose bitcoin gambling sites instead of regular ones with fiat.
also in many countries like US it is illegal to run an online gambling site anyways so implementing KYC doesn't make much sense anyways.

FJ itself there so called money laundering department see the scam accusations against fj they always delay payments of huge amount for no valid reason
Plus I was referring to casino dice sites don't apply to this they have 0.5-1% house edge and nothing else no dice site will ever ask for kyc

KYC is the process of knowing the identity of such particular user that is why they required national identification of their requirements and that is to control the illegal activities in bitcoin, i think that is a move from government to control any money laundering or track bitcoin activities of a particular person and that is to avoid such crime in using bitcoin.

They are asking KYC because their are so many bots who are cheating the site and earning big, so to stop that spam they are asking KYC so that it should be clear that the player who won big is a real one and not a bot who is cheating it.

KYC is a mandated by the government that all users on that particular exchanges, casino's and ICOs under their jurisdiction will provide proof of authenticity to monitor that isn't used by money laundering, illegal activities or some terrorist groups. Although, they will not exposed your data or identity unless your suspicious but the term anonymity transaction in crypto has gone.

This KYC implementation benefits mostly the gambling sites or casinos. This is some sort of their protection to prove that theh are operating legitimately. However, this brings doubt to users and make them double think of sending their personal infos and exposing themselves.

They don't even want to implement KYC but they have to follow rules from the government. I know the essence of anonymity is being broken as crypto's has made not for providing information but they have to do it and know who are the people who gambles on their casino and wins a certain amount. If winning isn't that big, there's no need for KYC.

That's right, supposedly we should not have KYC since bitcoin is anonymous and that is the main purpose of crypto.
However, if there such casino is registered and it has followed the law of the government then they should be doing some KYC, but it's rare
to see gambling sites that requires KYC, I am sure there are better sites than Fortunejack so maybe play with the other sites to have the convenience.

Actually mostly bitcoiner now even a gambler is dont like,kyc because maybe it can threaten to your personal life into in danger and can know your own personal information ,but this is there new rule to make all the transaction secure and no more scamming,but for me this is only there excuses,because for me its not  fair and can give you a headache to claim your prize or your token,they want us to agonize to claim or winning eapecially in gambling.

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.

I don't think that this KYC is really necessary for bounty hunters, or even for investors, we are talking about cryptocurrency guys, and this KYC thingy is ruining the "anonymity" of cryptocurrencies, don't you think. Security reasons is just an excuse, if that is what really they after that is why they have this KYC thingy, besides it is a pain in the ass submitting requirements for this, for real.

If they wanted that KYC in their project they should not have started it in the first place if they are not trusting their investors and buyers.

I will agree with you on this point many people do try to cheat but that doesn't make any difference gambling is based on luck every single roll is verified they why ask it means the site itself has a problem
Check fj feedback so many are negative they take 3 months just to verify if it's a bot and their license is also fake so what will they even do by verifying come on we all know their shady casino

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 site
That's why this thread is created why wait for 3 months just to get our deserved winnings

Not totally. If you do try to see current situation of those people who do have big winnings on the site. Most of them arent really being requested any documentation but somehow that security reasons would really make the delay on such withdrawal of those amounts but if you do win big without any shady activity then it will really released out without any doubts. Some cases though takes time but the important thing is that they are able to release out and theres no pending.

KYC in crypto casino's is generally adopted by the brand for several reasons:

1. the most legitimate reason is that they have acquired a curacao sub-license - not that curacao offers the player any protections in general - because it is the minimal and easiest gambling license to get that third-party casino providers will recognise. they are big companies and need to only provide to licensed entities in order to offer their games within the legal threshold.
2. brands use it as a net to close out any scammers and bonus abusers. this is a huge problem and players who love their sign up deposits and bonus spins etc should start to realise that without proper KYC and T&C's the general public, who are playing for entertainment sake, won't get such good offers (this is actually why i think we've seen such a reduction in decent bonus and promos from casino's recently because they can't handle the rampant bonus abuse from VERY smart people who know exactly how to extract free money from casinos). This is why regulated online casino's make you do more thorough KYC when signing up so they can detect frauds before they win the cash.
3. they are bs'ing the customer because they know most people in the crypto space who deposit with them will hesitate before sharing the very confidential and personal information such as passports etc.

Here are my tips:

If you have a sportsbook dispute due to KYC then find out if they have a Curacao sub-license first. If they do then they technically should have asked you to go through a minimal KYC standard first - knowing an email and username is not enough by Curucao license terms and i think LITERALLY every crypto sportsbook and casino with a Curacao is breaking their licensing terms by not doing this. If they do not have a Curacao license then KYC is ridiculous and not necessary. You "KYC" to ensure you are compliant to gambling regulation laws you are licensed by, if you have no license then theres literally no reason to KYC. If you find yourself in a dispute with a casino that has a curacao license and they didn't take you through a minimal KYC to begin with then again, as with sportsbook, they are in breach of their license.

------ Think about it know your customer basically means "can you identify your customer with minimal legal documentation and proof of residency and know where the proceeds are coming from BEFORE accepting them?" Not a single brand does that at the minute so saying its in the terms and conditions is UTTERLY ridiculous as its not technically KYC AFTER they deposit. ------

If all else fails then find the third-party casino operator (the guys who provide the slots or blackjack etc) that you may have had the issue with and approach them with the complaint. The casino you are using is basically only licensing these games from the operators for a revenue share and as a consequence they have terms and conditions (normally based on the license) to offer the player a fair and legal experience with their software.

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.

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?
This might be the reason but its hard to monitor on where the money on crypto is really coming from. You can't determine that it came from corruption or from a bad source.

What do you mean adopting to protect from illegal activities?
You are surely not aware but most of the bitcoin gambling sites are illegal , they don't pay any amount of tax from their profit why do you think all these dice sites have such low house edge because they are not answerable to the regulators , kyc is simply an excuse for not sending payments

I suppose they just do this to give the impression that they are legitimate businesses that follow government regulations, fitting in today's requirements. They see it necessary to do such also because they know they are under a watchful eye under the pains of being regulated or removed from site should they do business not in accordance with what the law imposes on them. Otherwise stated, it is just like a trend that I believe will pass on should a better regulation be on place. KYC is quite a new concept in the cryptocurrency world, hence, we can say we are still on the testing waters phase. We should see how it goes from here. Nonetheless, we should keep our worries in our pockets because either way, there is still no way for them to figure who the real traders and gamblers are.

I just wonder what would a gambling site do with those documents they require related to KYC. It would just make the process of payment (of winnings) longer. For sure anyone would think twice of submitting their personal infos to those gambling platforms.

The real concern is not really about not having good records, but that of the governments wanting to run people's financial life the way they do with fiat. Cryptocurrency was meant to keep them away, now they have started to creep in and as soon as they get a strong foot hold, you can bet, they would want to go all the way in pushing anonymity aside and isn't that what they wanted from the word go!

If you want casinos like that, than you must use decentralized.
Can't recommend one, but give google a search. You might find something good.

These all are decentralized there are few of them but because of limitations of bitcoin it is not possible there are so many sites which have decentralized casinos but it's purely based on ethereum , if contracts like ethereum existed in bitcoin all these sites would shut down , neither now nor in future any such thing will be possible with bitcoin

It seem we are experiencing recently a KYC wave from exchanges to icos and now casinos, one of the biggest selling points for bitcoin casinos was the fact you could remain anonymous and cash out without too many problems if this trends continues and most bitcoin casinos adopt this stance then it is possible we get a reduction in the size of the industry or a small minority of casinos not requiring KYC hoarding all the players.

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.
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.
But if its your money to cash out, you have to follow.

At the end we, we still need to follow or else we lose it, IMHO there's nothing wrong about KYC, it will safeguard both us individuals and the cadino in whatsoever happens in the future transactions, think of it only as a deal between you and the company it will still be private. Example those who wins in lottery, those government allowed lottery, if they win they need to make appearance for their records only. Nobody will know unless you're the one who will spread it.

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.

Too many gambling casino's where you can get your convenience and KYC's are just giving them assurance that they are registered and following a law. But also there are casino's that are going to use this type of requirement as their advantage of compiling information.

I think its not. It dis-applies the anonimity of bitcoin currency as well as the freedom of playing gambling without any problem with identity. I don't think even them they need to do it in the craze of crowdsale opening and including a whitelist. Its a disappointment in cryptocurrency that limits us in accessing the features of bitcoins.

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.

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.

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. 

They audit but I think it's not necessary. What they have to audit? Those who have win? there's a point of requiring KYC but the closest reason and idea is because of the gov'ts requirement to them. For the casino it will be a safety net but for those who gambles that wants to stay anonymous, they are no longer anonymous as their identities will be exposed to the management and if someone goes wrong the identities can be leaked but this is only an IF.

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.

They can't, KYC policies are not designed to stop crime rather those are measures taken in order to be able to track criminals but like always honest players are the ones that lose the most, you could play without any need to identify yourself and now you will have to do it, I do not like it at all to be honest, and like always we are the losers in the game between the criminals and the cops.

You are right but this is no way applicable in case of bitcoin , bitcoin is decentralized it's existence came because of these reasons itself , and most casinos are not actually registered or regulated with government so why all this

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.

most of gambling sites who have this requirements because to avoid multiple accounts but i think that's not for securities purppose and nobody can guarantee those sites won't abusing users datas and based cryptocurrencies is anonymous and gambling with cryptocurrencies also should be anonymous too but kyc required for bitcoin or altcoin gambling sites is very annoying and i personally will ignore those sites who have these requirements
 

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.

Yeah, there are still a whole lot of them that would not even require you to go through any KYC, and for now, it looks like it is only fortune jack that I know anyway, and they must definitely have their reasons for it and I am sure as long as anyone using the site is ok with the terms and conditions, there should be no problem, otherwise they can easily just move straight to making use of the likes of crypto games that requires no KYC.

I have never heard fortunejack asked anyone for ID's, no matter how big win it was.
Do you think casinos which are enforcing KYC give a damn about your anonymity?Life is not fair. Don't play on such casinos, there are plenty casinos which are not enforcing kyc.

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.

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.

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.

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 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.

This was going to eventually happen and while that was the purpose of bitcoin we need to understand that at the end of the day casinos are a business and they are going to do what they think it is going to give to them the greatest profits, some casinos will choose to force their players to go through KYC while some other casinos will choose to avoid that, the market will decide which casinos become the most successful.

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

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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 ...

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.

Why will there even be any shady activity on the gambling site in the first place? OK, unless they just want to have the record for your sake, in case the government want you to proof how you got your fund, which may sound a little bit reasonable in places where there are strict laws with money laundering, or they just want to expose your arse into paying tax, then I really see no reason for the KYC, but whatever, it is not a do or die affair right, since there are other ones that don't.

I suppose it all boils down to the casino's generally needing to convert the players crypto into FIAT to cover operating and other associated costs, once you make that leap from crypto into that world of FIAT then anti-money laundering is going to bite you in the ass and you have to show you undertook the minimal KYC to cover your own ass in this case. If a casino decides to stay crypto then its not so much a problem but at the moment you can't pay for things like server costs on clouds in crypto-coins so pretty much every casino must convert to FIAT. Most of the big casino slot providers don't even allow payment in crypto either so if you want to play any of these really good games the casino must pay for your spins in FIAT. As time as wore on its getting harder to find any exchanges to FIAT that don't carry out stringent KYC and most will turn away gaming operators to start off with. For a business account you must show you are carrying out due diligence with your own customers or else the exchange could eventually run foul of future regulatory financial oversight also. Crypto is great if you want to hodl but running a crypto service you encounter everyday costs that you can't pay in bitcoin. This is one reason why KYC is encroaching into the space.

How does having multiple account make much of a difference if you are not abusing the faucet this is bitcoin gambling anyone should be allowed to have multiple accounts as long as there is no cheating taking place , this is simply a excuse to ask kyc

Read my previous replies this is bitcoin gambling it is already illegal then how does control money laundering even make a difference

Although it might not seem fair from the gambler's perspective but casinos and sportsbook aren't ready to take up the risks of being involved with fraudulent funds. To be sure that the person who is betting money on their website isn't doing it with illegal funds like laundered money, 'Know Your Customer' comes in handy as it gives away key information about the person which can be backtracked in case of any fiddles.

Then what's the whole point of gambling with bitcoin anonymously if kyc will be asked if you make profit , obviously there is no way one can cheat the system as it is probably fair so bots don't make much of a difference
I see yolodice or all other sites never questioning users regarding their information then why can't casinos work that way

The reason behind this implementation of KYC is a sort of preparation of bitcoin community to upcoming regulations that can be imposed when time comes that bitcoin will be declared as legal tender, of course government will really look into big transaction to confirm their legality especially that it came from gambling sites, but we must not worry instead take this positively.

I just know about it really, last year I won more than 2,000 usd and didn't asked for KYC, weird ? Maybe ... , good move? It's to protect the business and yourself as a customer . Accept the KYC procedure if you think it's reasonable and simply avoid it when you think crypto should go completely anonymous.

I completely doubt kyc is for protecting us i don't know how will i even get exploited if i make profit in gambling a normal person would either withdraw the amount or keep on gambling
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

I can't say if it is fair but for businesses dealing with huge amount of money they usually require KYC to verify the customer that they are legit and not scammers or whatnot. And sometimes they need to verify it to know from which country you are from too. It may be a sensitive information the customers are giving out but surely they are keeping it in closed doors whoever they are asking for a KYC with. For Fortunejack maybe they just need you to verify your identity because you won a lot of money from their site thus asking for a KYC.

KYC can really be helpful when it comes to securing the site's credibility and financial activities but for people who gambles for secrecy won't be happy with that. Many are gambling online because of the anonymity but since KYC is preferred, many are getting worried about having their play-time because submitting IDs just means giving away your personal information. We know that bitcoin and altcoins have transactions that are hard to track and trace so if KYC will ask for every gambler's real identity then that will be opposing the anonymity that bitcoin had been giving ever since.

In case you lost your account and there's a lot of money stored, the site won't struggle to verify it's you the original owner. Besides the prevention of money laundering KYC help government to looking for illegal activity which yeah it's always become a dilemma in crypto that basically it should run anonymously.

actually this is one problem that must be addressed,why needed that KYC in existence.whers the essence of being anonymous when kyc requires valid IDs when creating account.this reveals our identity though only specifics will do..

Rules are getting more and more strict, especially considering the huge amounts of money that are involved.

Expect more KYC on services you use unless you want to play on really shady underground casinos.

There are too many frauds around, it's getting harder to know who is the legit owner of such account or such money. Having records or documents can be a help whenever we need to do a bigger transactions at least they have some supporting documents whenever conflicts happened. Thou KYC changing the idea of us being anonymous, I think we really need to adopt this.

if you need to exchange crypto coin to another crypto coin then you'd better look for aggregator which can offer you exchange without KYC at all.
I use coinmonkey for that - it gets rates from major exchanges and you can choose rate for the exchange and actually do it right at the website. I don't mention even e-mail!

Whether we like it or not we don't have any choice than to adopt this. Just look at the brighter side of this, if we have all undergo in KYC we can protect our earnings and vise versa. However, casinos must be sure that there will be no information will be disclosed to other parties as it will be another thing that isn't appropriate.

There is no escaping the paperwork while investing in financial products. Be it, opening a new bank account, demat account or buying insurance, filling the Know Your Client (KYC) documents is a mandatory procedure today.

KYC is a client identification program that verifies and maintains records of the identity and address of investors.

KYC norms were introduced in 2002 by the Reserve Bank of India (RBI). It directed all banks and financial institutions to put in place a policy framework to know their customers before opening any account. The purpose was to prevent money laundering, terrorist financing, theft and so on.

yes, but when it comes to blockchain then I belive you don't expect that much paperwork, right?
you are expecting fast and anonymous deals in the most cases.
and as we know less than 3% of total transactions could be referred to money-laundering or criminal sphere.

so, that's why we need more services like exchange rate aggregators without KYC at all. no registration, just fast exchange and that's 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

I guess it can’t benefit as there would be no need for that. No company or exchange take risks for client losing his/her password or giving to somebody else. And transaction level are irreversible, so KYC is useless for a client. But it gives more info about you to exhange and other people unfortunately. I use coinmonkey.io exchanger and they don’t t require even email for transaction - only wallets.

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 (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.

Do you have any strong proofs that FJ do such behavior on setting out KYC for just solely delaying players funds? Speaking of cash then they do have lots and theres no question about that since no matter how big it is they can paid out. KYC is been part of their security purposes gamblers or most people do hate this but you cant really oppose since you would really need to comply it.

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.

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.

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

4 months to verify if i am the original owner for a site which has a fake licence and isn't regulated anywhere in the world as they claim to be
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

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.

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

Let's say I'm not a type of gambler who depends on faucets from gambling but actually deposit funds so making different accounts should make any difference right as it is probably fair
And what security measure are you even talking about they claim to allow us to gamble anonymously then why kyc

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.

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.

If casinos ask KYC then I think people will stop playing gambling with cryptocurrencies. i don't think why casino's need KYC, ok i agree if you win big amount then for verification purpose they can ask KYC but making this mandatory is no use and nobody will give their personal information to the unknown person.

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 amounts
Plus read what I wrote we are talking about gambling here not exchanges

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.

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.

Most gambling websites are now doing that and i believe it is really mandatory and required by the law. And there some policies by some casino owners which prohibits one person having multiple accounts on their websites as well.

There are still some casino's that aren't requiring KYC and for those that requiring it already, we can't blame them if they have to comply with their law.

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 !

If you do KYC you have to do for every single player not just X or Y who win over a certain amount of bitcoins. Anyone laundering money always keeps the amounts low and different for the churn so these companies doing KYC on withdrawal is ridiculous. It's not KYC in any legal way so we should stop referring to it as KYC.

We can't do something with it if our favorite gambling website starts to implement KYC. Exchanges, casino's and even the banks are requiring this but if a gambler isn't comfortable with this he can stay or he can choose another casino that doesn't implement this.

I highly doubt that any of the Casino's are doing KYC because of governmental requirements/regulations. A lot of them aren't  even registered, and if they are they would likely register there corporation in a jurisdiction with favorable/lax gambling laws. Most of the governments that require KYC, don't even allow gambling. From my experience the Casinos that require KYC, only do so when they want to get out of paying/scam a customer or when they suspect some form of cheating or trying to game the system, which basically reverts back to the first point... Trying to find a reason to not pay.  They don't need to know their customer when they are receiving the customers $, only when they want to welch on paying one of their customers. There are numerous accounts of people getting scammed by casino sites. That is the main reason why I switched over to YOLOdice, because the site I was playing on had several issues with not wanting to pay out.

The big ones are registered as this is something of a proof that the site is legit. If they are not registered gamblers think twice before they play in the casino. Usually they are registered with Curacao gambling license. So probably they are being forced by governments to require KYC. This has been the trend with the exchanges so I guess it is also affecting the casinos now.

I don't see KYC a big deal and in fact it will be a big help for every gamblers because it actually protects them from fraudulent act. If you don't want to do KYC then just find a site that isn't mandatory but I'm pretty sure that sooner all these sites will have to implement it so we have just two choices, do KYC or quit online gambling.

KYC doesn't protect gamblers from fraud, it protects gambling site owners from bonus abusers, under aged persons and money laundering trough their sites.
Not at all. Most gambles won't even bother to check if site has license or not.

Agree! I am guilty with not checking if the site I am playing is license or not all I do is I research about the site if its really paying and I look for good reviews and then play.

Knowing your customer before risking your asset is very important to have transparency between the bettors or to the gambling site as will, even though every thing about crypto is anonymous but through KYC the risk assessment will be course through to lessen the possibility of fraudulence. In fact some trading site and new ICO already required to have KYC to minimize the case of using crypto for money laundering and any criminality involving money.

Well maybe gambling sites that involves in Bitcoin platform should also be required to fill up KYC as per regulation policy of the government, this is to ensure that the gambling establishment will not be use maybe by any person who involves in money laundering activities so therefore as we all really know that if Bitcoin will not be regulate it can be easily use in illegal activities such as money laundering so therefore KYC requirement is really vital for every Bitcoin transaction.

kyc is required for verification to stop criminal activities around internet mate everyone knows it

KYC for me is very difficult since I have not yet valid ID's and proof of billings. So now I am making hard just only to have this I applied some billings only to have a proof of bills and also I already get valid ID and still I am waiting that for almost 3 months of process.

So far, no site has really asked for my proof of billing. Also why would you not have ID yet? Are you a minor? That would be preposterous if you do not have any sort of ID yet if you are already allowed to gamble. What kind of ID takes three months? In my country, which I believe has the most inefficient government in the world, have no problems receiving the ID within a few weeks not months.

i looked into this a little bit and it would seem the gambling guys who ask for KYC for large payments are basically going from this, as most are based in Europe:
"The new directive does not completely change those requirements; however it differentiates the transaction threshold. For transfers of funds according to article 3 (9) regulation (EU) 2015/847, the threshold is set to € 1,000, including credit transfers, direct debit transactions as well cross-border transactions “carried out using a payment card, an electronic money instrument, or a mobile phone, or any other digital or IT prepaid or postpaid device”. A threshold of € 10,000 applies for persons “trading in goods, when carrying out occasional transactions” in cash and finally the specific threshold of € 2,000 “applies for providers of gambling services, upon the collection of winnings, the wagering of a stake, or both”
https://www.bankinghub.eu/banking/finance-risk/finalization-4th-anti-money-laundering-directive (https://www.bankinghub.eu/banking/finance-risk/finalization-4th-anti-money-laundering-directive)

They are pretty much doing half KYC in regards to knowing who is winning big based upon that EU directive.

As Curacao is technically an associate member of the European Community, with most crypto-casino's holding a Curacao license, all Curacao businesses come under the European fiscal rules with the Supreme Court of the Netherlands presiding over any final judgements with Curacao and financial conduct. As a consequence Curacao must uphold KYC using the framework adhered to it by the EU such as:

FATF/OECD compliant
EU-compliant
AML compliant

The European Commission advised that all European cryptocurrency exchanges will become obliged entities under the 4th AntiMoney Laundering Directive recently. That directive says that to use a financial transactions service any users must pass KYC first which includes: ”Evidence of identity that can take a number of forms. In respect of individuals, much weight is placed on so-called ‘identity documents’, such as passports and photocard driving licences, and these are often the easiest way of being reasonably satisfied as to someone’s identity." Therefore any one using a Curacao license is also obliged to collect KYC according to the EU 4th AML directive.

In conclusion, if you are not being asked for specific documents to verify your identity before you are allowed to deposit crypto into a casino with a Curacao license then the casino in question is in breach of its Curacao license and EU law. You can actually then take any claims against a casino to a Curacao court of law and you can probably sue the Curacao gaming licensing agency also because they are not properly adhering to EU 4th AML directive also, which the Supreme Court of Nederlands has ultimate jurisdiction over.

Everyone should know their rights when dealing with gambling companies and all these companies are breaking the law if they are a) based in Europe as an entity or b) hold a Curacao license.

Example: coingaming group (bitcasino.io / sportsbet.io) is based in the EU (Estonia) with a Curacao license and does not undertake KYC as based upon the 4th AML directive (aka not verifying the identity of an individual before a financial deposit) so is therefore is breaking the law. Mention all these points above to any operator if they claim KYC and see what they come back with.

I agree, it's entirely related to regulation, and I bet we will keep seeing measures like that happening in more casinos. I value my privacy, but how hard can it be to give verify our identity in order to gamble? Fiat casinos ask for it as well, and maybe land casinos don't but your face is recorded in every camera there, so it's not really a private thing as well. I don't really see a problem with KYC, as long as our privacy is kept inside the casinos of course. I don't want my ID to be sold around, but that is a complete different matter.

You can choose for not to play the site if they require you to fill KYC.

IMO, bitcoin become a tool that abusively being use for criminal attempt , that's the fact so the gambling site usually want to minimalize the criminal attempt. For me it's reasonable if they include KYC on their term !

I can tell you about my country. Here they are asking for KYC in accordance with the tax laws. If those sites will not follow this, the government may shut down their website completely. Same applies to bitcoin exchanges in my country. Even if you are buying bitcoins worth $10, you have first get KYC verified in the exchange. Having the KYC of all players ensures that no player is able to evade taxes for large winnings.

It's not. I think these sites are just making excuses not to pay you and just using the KYC crap that any greedy people would do like in Bounties. You are right that it was made for anonymity and they're just ruining the concept of crypto.

I’ve not really experienced winning a huge amount in any gambling site, so I can’t really say any site has asked for KYC from me. But I can speculate the reason. Probably it is because they want to know who you are in case the win was illegitimate. There have been historical events that a player was able to cheat and withdraw all the winnings. Probably they want to get those kinds of players.

I guess it is up to the casino owners to decide if they requires a KYC verification process on their customers who have won a huge amount of money on their site in order to process the withdrawals, but I guess this beats the whole purpose of gambling in crypto-currencies as most customers would usually prefers to remain anonymous when they are gambling online using crypto-currencies.

It`s not up to casino owner to decide, its up to government where casino is registered.


That is just an excuse from government for introducing higher control measures.

There are casinos where you can gamble with bitcoin but when you wish to withdraw you need to upload many documents, but lucky for us many other bitcoin casinos don`t ask for that. It`s not a problem for me to verify myself, but I don`t like to do it. My favorite bitcoin casinos don`t ask for that and I hope it will stay like that.
Governments will always try to make more control over us, but blockchain will help us to keep our privacy at least on some level.

True,  this strongly opposed what we know when we gambling online and using cryptos.  Its like having a change of government here where we are used to private gambling.  KYC os definitely giving out your personal information.  I am also bothered with it because what if our information are used without us knowing,  this is possible. We like gambling using cryptos because it hides our faces,  names and etc to others but because of KYC,  even if we don't like,  we will have to reveal those whether we like it or not.