How my lack of knowledge has blinded me so far

[QueenVera]

Most times I see no reason or anything wrong with online casinos asking for KYC and I also don't see any reason why someone with a clear conscience should be bothered over doing KYC online especially with reputable casinos and companies. I read all your proposals and I'm glad you were able to change your mindset towards KYC especially from reputable casinos because by so doing, you're helping them reduce the load for them and as well making things easier for yourself too.
Kyc is actually needed to help fight money laundering and other criminal activities through their platforms and it also help the casino regulatory bodies to help gamblers in times of difficulties.
Casinos don't actually pretend not to ask for KYC but they're trying to balance their business with the regulatory bodies and the demands from the gamblers, hence the KYC only happens at a trigger point and if most gamblers read through the terms and conditions then they would have seen this but I guess they don't take out time to read it.

[yazher]

Many have prevented others to not do KYC when you are asked by exchanges and any other platform on the internet because it can compromise your personal life once it falls to someone who knows exactly how they will use your personal info for their evil plans. Because there are already lots of incidences where their info had been leaked and sold and when that happens, you are a few months away from seeing the FBI outside your door. It's fine that we haven't done anything and the hard part is to prove to them that we were guilty and that alone will consume so much time that you have wished for yourself not to submit that KYC in the first place.

[worldofcoins]

It's good to hear that you've taken the time to research the reasons behind KYC verification requirements for online casinos. I believe KYC verification helps online casinos ensure that their players are who they say they are and that they are of legal age to gamble. In easy words, it's mandatory to provide the player's credibility. In addition, it's necessary to ensure the safety and security of online casinos and their players.

[swogerino]

It's good to hear that you've taken the time to research the reasons behind KYC verification requirements for online casinos. I believe KYC verification helps online casinos ensure that their players are who they say they are and that they are of legal age to gamble. In easy words, it's mandatory to provide the player's credibility. In addition, it's necessary to ensure the safety and security of online casinos and their players.

While I fully agree with this who guarantee us that our data,valid data is not misused by the KYC department of the casino,some disgruntled employee there may do enormous damage if they have access to our data.I know that most companies have DLP-Data Loss Prevention systems in use which does not let such information going out through email or USB devices but we cannot be sure that each casino uses such norms that are standards in the cyber security world.I personally have given my ID as I am verified at the casino where I play as I believe in such casino to have high standards when coming to our user data.KYC is beneficial to us if something bad happen to our account and only us people with valid data can solve these problems,so in this point of context KYC is beneficial and that is why I did it.

[BobK71]

I like KYC if it involves my money they will gonna hold but totally unlike it if it's too random without prior notice that they'll asked it on you, more so when they press it. The thing is, the government is the true sucker in the first place they're the one pressing it against on players. At certain point, it sure to exists and more and more will follow the KYC rule in the future.

Yeah, even there are few casinos aren't asking user KYC since they don't have any rule about KYC in their terms, I wouldn't surprised sooner or later they will be forced to have a license and obviously will follow the regulations. This might happen on old and reputable no KYC casino, a small casino will not be a target by the government since the money involved on the site isn't that big.

Most crypto casinos do not push for KYC but they can ask for KYC anytime. And it is better to do in all casinos that have made KYC mandatory in their terms and conditions. In some cases you may face various problems with KYC after winning big. KYC verification is very necessary to maintain continuous gambling. If corruption is not rampant then there is no possibility of any problem with KYC submission. But there may be some people who always wants to conduct gambling by hiding themself.

[Kakmakr]

It's good to hear that you've taken the time to research the reasons behind KYC verification requirements for online casinos. I believe KYC verification helps online casinos ensure that their players are who they say they are and that they are of legal age to gamble. In easy words, it's mandatory to provide the player's credibility. In addition, it's necessary to ensure the safety and security of online casinos and their players.

No, they do not ask people KYC verification to prevent underage gambling, because that person can simply buy a phone for their kids to use under the parents name and casinos will not know about it. (Most burner phones cannot even be linked to the owner and fake identification can be obtained very easily)

They are forced under regulatory requirements to ask for KYC verification to monitor the flow of money. This helps law enforcement to trace money laundering and other financial crimes and the government via Banks can also trace the income of their citizens for tax purposes.  

[AicecreaME]

It's good to hear that you've taken the time to research the reasons behind KYC verification requirements for online casinos. I believe KYC verification helps online casinos ensure that their players are who they say they are and that they are of legal age to gamble. In easy words, it's mandatory to provide the player's credibility. In addition, it's necessary to ensure the safety and security of online casinos and their players.

Agree. Casinos do KYC to verify that their clients are existing people and are not just faking their identities to suit their interests such as to launder money or to use other identity just to gamble. KYC can also predict young people lurking around the casino website which they shouldn't be a part of in the first place to secure their mental well being and future.

KYC can help casinos monitor the people making transactions in their account and if ever there's something unusual they are seeing, they can easily tap on that person to give a notice and let them pass specific requirements to verify and comply. This is also needed because casinos are being regulated by the country officials to be able to fully operate without conditions, hence they must abide for the good of everyone.

[bisdak40]

~snip~
From now henceforth, my assumptions about KYC verification from reputable online gambling platforms have changed, I seek for answers and I find them, drop your opinions if you think I am wrong or you think this is not accurate enough.

I do agree that KYC is needed indeed if involves a large sum amount of money but also on our end, we have to see to it that we are patronizing/using reputable online casinos so as to not compromise our identity before giving it to them.

One thing though, casinos will only require your KYC if you win big so bet only an amount that if you win will not warrant your KYC.

[Lucasgabd]

To be honest, i dont understand why some ppl so mad at KYC... and would like to know opinions of who is against that, just to understand an their view.

My main issue is identity theft when the company that got my KYC ends up being hacked and my identity details stolen. That's actually a real possibility these days.

this probably happens a lot too since most of the KYC companies that does verification are quite shady
some claim that they delete the data but this isn't really verifiable

but on the other hand, there aren't so many cases of identity theft ?I've heard about, is it such a huge problem?

[goldkingcoiner]

There are people like me who dislike KYC verification requirements from online casinos, and I always have two complaints about it.

1. Why the need for KYC.

2. Why pretend they won't ask for KYC, but ask for verification after a big win.

While my lack of knowledge has kept me away from several big online casinos in this forum, I decided to do some additional research in my spare time.

Some Facts Why KYC Verification is a Necessity For Online Casinos.

~Online gambling businesses have become more attractive since the Covid19 days, more money entered the gambling business, making the attention very noticeable, also a good opportunity for the law to go after them.

~There are penalties on online gambling necks too, they have to implement anti-money laundering procedures just to survive, many online gambling platforms faced the panel in the past and ceased to exist.

~You have no idea how much these companies spend per year just to be friendly to the law and pass criterion regulations and business procedures, it is called intense regulation, to avoid fines.

~The only way these people can avoid the mistake of allowing fraudsters into their system ( gambling platform ) is by having KYC and AML (anti-money laundering ) in place.

~If you see another way that I don't, do drop your comment, because people can't be trusted, they will pretend to be a random online gambler but they have other bad intentions in mind.

From now henceforth, my assumptions about KYC verification from reputable online gambling platforms have changed, I seek for answers and I find them, drop your opinions if you think I am wrong or you think this is not accurate enough.

That is basically my own way of thinking, OP.

While I am not a fan of KYC or anything which endangers you to identity theft, I would say that KYC implementation is not something that casinos can decide for themselves. They are basically forced to implement it, by the government.

Furthermore, I think the main reason why they demand KYC on large withdrawals is because its easier and more time-saving than demanding it from every single new user. They have to manually check the KYC documents and they have so many users, it would be very hard for them to check everyone.

We need to invent an alternative to KYC which does not endanger our government-issued documents from being stolen. Identity thieves can do enormous damage to your finances and your reputation.

[noormcs5]

All of that could be part of the terms of service (TOS), or they are required by regulators to verify their clients once they hit a big amount of money. Sometimes, not all the information we need to know is present in the TOS, but as long as it's legally enforceable, we can't blame the gambling site for doing their job to comply with the regulators.

Unless in the case of scam casinos.

Well, the scam casinos can keep on rejecting your KYC in case you win big however if you are playing at a reputable casino, once you win big the casino can ask for KYC and upon successful KYC, you can withdraw your funds. For me, it this clause is listed in the terms and conditions, I will prefer to do KYC beforehand and will not wait unless I big win and demanded by the casino to do the KYC.

To be honest, i dont understand why some ppl so mad at KYC... and would like to know opinions of who is against that, just to understand an their view.

Think in a way that you do KYC at a site, they will get all your personal data and a scanned copy of your ID card, passport or any government-issued card and later that site sell you details on the dark web. Scary isn't it?

[Cling18]

To be honest, i dont understand why some ppl so mad at KYC... and would like to know opinions of who is against that, just to understand an their view.

My main issue is identity theft when the company that got my KYC ends up being hacked and my identity details stolen. That's actually a real possibility these days.

this probably happens a lot too since most of the KYC companies that does verification are quite shady
some claim that they delete the data but this isn't really verifiable

but on the other hand, there aren't so many cases of identity theft ?I've heard about, is it such a huge problem?

I was also hesitant to submit my personal details just to pass the KYC process before but when I was left with no choice, I complied with it. So far, I haven't experienced identity theft. I think the reputation of the casino has a big edge. I haven't heard of identity theft cases from the people I know who complied with KYC. Of course, casinos are also being careful with their user's details because possible glitches will surely affect their reputation.

[jostorres]

I like KYC if it involves my money they will gonna hold but totally unlike it if it's too random without prior notice that they'll asked it on you, more so when they press it. The thing is, the government is the true sucker in the first place they're the one pressing it against on players. At certain point, it sure to exists and more and more will follow the KYC rule in the future.

Yeah, even there are few casinos aren't asking user KYC since they don't have any rule about KYC in their terms, I wouldn't surprised sooner or later they will be forced to have a license and obviously will follow the regulations. This might happen on old and reputable no KYC casino, a small casino will not be a target by the government since the money involved on the site isn't that big.

It's important to watch the gambling site that you are playing carefully about the changes that they are making but I think they will announce it early if they are that fair and professional enough because they know that many people are not in favor of KYC but if they know that this will affect their business, why will they ever get a license if it was still possible to continue their operations and still become reputable even without it? Unless of course if it was already mandated by the government. They will do it than if the business that they have built are going to be shut down immediately. That is something that is more painful than getting less customers.

[alastantiger]

There are people like me who dislike KYC verification requirements from online casinos, and I always have two complaints about it.

1. Why the need for KYC.

2. Why pretend they won't ask for KYC, but ask for verification after a big win.

Any gambler is suppose to be aware of KYC or rather expect it. Besides it is for the gamblers good as it helps to dictate scammer and anti money laundrers. And also to identify and verify their customers, understanding the nature and purpose of customers relations and any suspicions transactions will be dictated easily.
If there is no KYCrequirement, or any form verifications, many people will not be interested in gambling site because many people must have been scammed and left the site and give the site a bad name that will discourage many others.
I think there is need for KYC.

[Casdinyard]

There are people like me who dislike KYC verification requirements from online casinos, and I always have two complaints about it.

1. Why the need for KYC.

2. Why pretend they won't ask for KYC, but ask for verification after a big win.

Any gambler is suppose to be aware of KYC or rather expect it. Besides it is for the gamblers good as it helps to dictate scammer and anti money laundrers. And also to identify and verify their customers, understanding the nature and purpose of customers relations and any suspicions transactions will be dictated easily.
If there is no KYCrequirement, or any form verifications, many people will not be interested in gambling site because many people must have been scammed and left the site and give the site a bad name that will discourage many others.
I think there is need for KYC.

Exactly. at this point with even the most remote of casinos asking for a little verification from the customer's part, everyone should already expect that KYC is here to stay and will soon be a universal staple in the casino industry. The indispensable security it provides added with the anti-laundering and scam-deterrent features it provides to you and the casino just warrants it to be added in every cryptocurrency casino in the future. As a matter of fact, I would argue that you should be worried about the casino you're playing with in the future if they don't ask you for KYC at some point during registration or during withdrawal, that's a sign that the casino you're playing on may not be so trustworthy as you might think!

[Oilacris]

There are people like me who dislike KYC verification requirements from online casinos, and I always have two complaints about it.

1. Why the need for KYC.

2. Why pretend they won't ask for KYC, but ask for verification after a big win.

Any gambler is suppose to be aware of KYC or rather expect it. Besides it is for the gamblers good as it helps to dictate scammer and anti money laundrers. And also to identify and verify their customers, understanding the nature and purpose of customers relations and any suspicions transactions will be dictated easily.
If there is no KYCrequirement, or any form verifications, many people will not be interested in gambling site because many people must have been scammed and left the site and give the site a bad name that will discourage many others.
I think there is need for KYC.

In todays years on which it is really that becoming a standard that most platforms would really potentially ask out some KYC or verification on the time that you had done something or do really looks

suspicious on which its not really that shocking anymore considering that most of these platforms are licensed and regulated.If you havent done something wrong then i dont really see this as an issue.
There are really just those people who are really that allergic when it comes to kyc which i couldnt blame of but we know that we arent been asked on the time we do register
which it is really still that good to deal up with them for now.