KYC procedure in online casinos does more good than bad or the other way around?

[bitgolden]

With what I have see and experienced so far KYC was implemented by the online casino owners just like how crypto currency exchange site does (I mean they set some limit of withdraw which KYC will be ask from customers) in other to prevent their business cause no one will pray for his business to collapse and gambler need to do is always play on a trustable site which your personal information will be secure because KYC will be ask when huge fund is involve.

Yeah the reason for implementing KYC is actually genuine and there are many reputable casino site that request for it but personally I would not play on any site that requests for KYC, I chose online gambling because of privacy and my mind would not be at rest knowing that I have my information submitted on a casino site,no matter how safe they promise to keep it. There will still be doubts.

[ruthwithers1980]

Thanks for all your responses and insights.

I used those to create an article summarizing why crypto players skip casinos with KYC.

Here's it's bitcointalk thread: https://bitcointalk.org/index.php?topic=5136360.new#new

[Malsetid]

With what I have see and experienced so far KYC was implemented by the online casino owners just like how crypto currency exchange site does (I mean they set some limit of withdraw which KYC will be ask from customers) in other to prevent their business cause no one will pray for his business to collapse and gambler need to do is always play on a trustable site which your personal information will be secure because KYC will be ask when huge fund is involve.

Yeah the reason for implementing KYC is actually genuine and there are many reputable casino site that request for it but personally I would not play on any site that requests for KYC, I chose online gambling because of privacy and my mind would not be at rest knowing that I have my information submitted on a casino site,no matter how safe they promise to keep it. There will still be doubts.

It's more for the safety of the casinos than it's customers i think. Of course these businesses would prioritize their security and having personal information about their customers would make it easier to run after people who use their platform for money laundering, scams and cheating. And though i also can make it secure for players and users, i personally won't be at ease giving out my information just to gamble. I can understand that it may be necessary for trading sites but for online casinos, nah i'd pass.

[bitcoin31]

They think first what is the purposes of KYC and what the reason for them to get our personal information we are players and maybe our money our lost. The KYC created because of the cheaters of joining multiple account in same bounty campaign. I did not play for the gambling site who implementing KYC because I have rights to secure my information because I play with my money not their money.

[rachman mahesa]

I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.

[HighArT]

If you ask me no KYC for crypto betting sites / casinos needed. Crypto is made to be anonymous and until now i used sites that had no KYC (still using them), so i guess most of them don't request it.

[BlueStackz]

If you ask me no KYC for crypto betting sites / casinos needed. Crypto is made to be anonymous and until now i used sites that had no KYC (still using them), so i guess most of them don't request it.

There are still sites that don’t require KYC, in short the number of casino sites that do not request is actually more than the ones that do. I think the sites that demand for KYC would have reasons to do so, but I feel no reason is valid enough to want to intrude into a gamer are privacy.

This is a gambling site for crying out loud, and we all know that no gamer is proud of gambling and we all like to keep our information’s safe. So why the hell will a casino site asks for KYC? Well I already have my site that I play on and do not request for KYC, the moment they introduce it, I bet am out

[prtty2gal2]

I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.

I never had any issue with submitting KYC during bounty. I did that a lot of times also and I saw reasons why it was necessary but I don’t think it should be the same with gambling. The site I have been gambling on do not ask for KYC and I will be truly disappointed if they ever do, because it is totally of no use.

There was a time I gambled on a site and made huge money and at the time of withdrawal, it started asking for my KYC, I just abandoned the money I made and the site and ever since then placed that site on my scam site list. It might not be scam, but I felt cheated because I felt they should have informed me earlier.

[carlfebz2]

I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.

I never had any issue with submitting KYC during bounty. I did that a lot of times also and I saw reasons why it was necessary but I don’t think it should be the same with gambling. The site I have been gambling on do not ask for KYC and I will be truly disappointed if they ever do, because it is totally of no use.

There was a time I gambled on a site and made huge money and at the time of withdrawal, it started asking for my KYC, I just abandoned the money I made and the site and ever since then placed that site on my scam site list. It might not be scam, but I felt cheated because I felt they should have informed me earlier.

How much did you won? since you do said huge money but well its your own decision and it do really sucks when gambling sites ask out verification when you do make big winnings which is really questionable.
KYC procedure would only be good on fiat casinos but since we are on crypto then i dont think this thing would really be appropriate to be applied on here and come to think thats why crypto gambling is getting bigger
due to anonymity.

[StarofBTC]

I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.

Yes, once I see any casino site that requests for KYC, I just quit. I don’t see any reason why they should be asking for that, it is absolutely not necessary.

Every gambler wants to be anonymous, and there are some of us whose culture and laws do not permit to gamble, but because of the love for gambling, we can just log into a casino site and play
Asking for KYC forfeits this, and it’s totally wrong. Let’s call a spade a spade, KYC is not for gambling and whoever that introduced it to some casino sites didn’t do well at all.

[Ailmand]

I don't actually see any benefits of customers going thru KYC procedure in gambling aside from compliance with the law. It is risky to disclose personal data just to gamble. I know a lot of online-gamblers here are against it because of security reasons and also because of the inconvenience of the procedure. Online-gamblers wants to remain anonymous while gambling for security purposes.

[leowonderful]

KYC can be justified in casinos if there's a legitimate concern with a player or something of the sort with stolen funds from other places and such, and ideally KYC prevents fraudulent activity from happening, but the way it's currently used by some shadier casinos isn't good when those casinos use KYC as a way to stop players from withdrawing won funds. I also don't like to submit KYC because I'd gladly gamble on a casino that doesn't require KYC than one where I have to submit KYC to play at the risk of my identity and documents being stolen which could cost lots of money, not to mention it can take quite some time for your KYC application on a site to be cleared as well; even if a site requiring KYC is better than another, I'm going to the site that doesn't require KYC first.

[Rufsilf]

I don't actually see any benefits of customers going thru KYC procedure in gambling aside from compliance with the law. It is risky to disclose personal data just to gamble. I know a lot of online-gamblers here are against it because of security reasons and also because of the inconvenience of the procedure. Online-gamblers wants to remain anonymous while gambling for security purposes.

There is no wrong if they'll asking KYC for gamblers if their intention is to help the security of individual funds but some of them also used it into some shady activities which might be using our identity just to hide themselves. With this some instances, I may not be able to do KYC or even visiting gambling sites that requires KYC. It  would be the safety of our own and remain at anonymous.

[Micerker]

The requirement to perform KYC was a bad request because many users did not want to participate in mandatory KYC requests. Casino where you can find fun and profit, many users don't want to reveal their identity when joining Gambling. Therefore for funds with unusual signs, KYC should be requested before being accepted.

[Dreamchaser21]

I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.

I’m also not comfortable to play on those gambling sites because KYC for me is very important and if i will just play to have fun, then no need for me to fill up any KYC. I understand if you are playing with 10BTC, but if you are just playing .1BTC then gambling sites should not ask for that. I want to play withou any hassle, so hopefully many gambling sites will remain fair and never ask to fill any kyc. 

[BossMacko]

One reason i don't really want KYC enabled gambling site is because i am afraid that they run a way someday and take or use my identity somewhere else. I prefer playing or gambling in a site wherein running for many years already without KYC. Plus KYC procedure is very hassle you would not be able to withdraw but you can deposit so if you will not be able to verify or finish KYC then your deposit is safe in their website.

[Sithara007]

The requirement to perform KYC was a bad request because many users did not want to participate in mandatory KYC requests. Casino where you can find fun and profit, many users don't want to reveal their identity when joining Gambling. Therefore for funds with unusual signs, KYC should be requested before being accepted.

If a user don't want to reveal his identity, then it is fine. But in rare cases, this can cause complications. What will happen, in case he wins a big reward? I don't think that the casino will just send the winning amount to his wallet, until they confirm his real identity (they need it for auditing and tax purposes as well). In case they don't do that, then the government agencies will charge them with anti-money laundering laws. Another issue is with the dirty coins. If some user deposits drug money to the online casinos, then it can cause problems for the casino.

[Ellen Adarna]

I've read a lot of replies in some casino-related threads talking about how they hate KYC procedures. I get it they don't want all the hassle if giving personal info during registration, that they don't want complicated processes, esp. when withdrawing, and that they are afraid the casinos will exploit their players' details who provided their personal info. But perhaps some people think about KYC positively — like KYC reduces the risk of money laundering and protects the casinos from fraudulent players?

I'm not saying I am pro or against KYC. I really just want to get insights from different perspectives.

In my own personal opinion, a lot of people do really hate KYC because it takes a lot of time filing up the form and some of them are afraid to reveal their identities or information that their identities can be used for illegal activities such as scams. Honestly, i am one of those people who don't want to take KYC procedures because i also don't want to share my information. I think it is just fine if online casino just has online registrations and not requiring any KYC. I really do understand the purpose of KYC like to reduces the risk of money laundering and to protect the site from fraud players, but they should still understand that our identities and information are more important. Anyways, I am playing in crypto casino that has hundreds casino games that you could actually play and enjoy like poker, baccarat, blackjack, roulette, and slots. They also offer great bonuses for new players that you can get 225% on deposits and get up to 1,000 mBTC.

[michellee]

One reason i don't really want KYC enabled gambling site is because i am afraid that they run a way someday and take or use my identity somewhere else. I prefer playing or gambling in a site wherein running for many years already without KYC. Plus KYC procedure is very hassle you would not be able to withdraw but you can deposit so if you will not be able to verify or finish KYC then your deposit is safe in their website.

Yeah, once our identity is upload to their website, there is a chance for an attacker to search the database and steal the member document and if they can get it, they will use for the illegal thing. I cannot imagine if they have a way to penetrate the website and they can copy the data for their purposes. But we don't have to worry because there are many gambling sites which don't require KYC for their member because they know how important for their member to play gambling with anonym.

[rachman mahesa]

I have until now never played gambling which required me to do KYC. But if for a bounty for example, of course I've done it often. But for gambling I don't seem to be doing kyc. If you really have to do that, you must have a reason why I as a player must do KYC.

I’m also not comfortable to play on those gambling sites because KYC for me is very important and if i will just play to have fun, then no need for me to fill up any KYC. I understand if you are playing with 10BTC, but if you are just playing .1BTC then gambling sites should not ask for that. I want to play withou any hassle, so hopefully many gambling sites will remain fair and never ask to fill any kyc. 

I have said it is indeed uncomfortable if we play gambling in small games that have to do KYC. Which means you feel, same as me.  That's why you have to look for gambling sites without having to do KYC, because the purpose of our gambling is to have fun. And I think there are still many gambling sites that do not require KYC.