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

[Whosdaddy]

Well you can't blame gambling sites nowadays to add KYC since gambling sites now accepts different crytos and allows you to exchange example BTC to ETH. If its a new site and ask for KYC, I wouldn't try to send anything to them, but if its an old site that has been running or operating for several years already, I would go for KYC.

That's the way to do it. If the casino has already established itself as a trustworthy site, then and only then will I try to transact with it even if there's KYC.

How do you know a casino sites that has established itself to be trustworthy? Is it based on reviews or based on its years of existence? That’s hell no: Shits happen in the gambling industry and no casino site can be trusted for a lifetime. They may have been on for some time, but they can decide to bring out their true color at any point.

What if the so called trustworthy site becomes bankrupt and needs to make money at a point or what if the management changes and the system changes entirely to become corrupt and that’s the point you decide to submit your KYC, I think it is risky and for me, I don’t care how  reputable a site is, if it has to do with gambling, I don’t submit my KYC.

[upsidedown75]

Well you can't blame gambling sites nowadays to add KYC since gambling sites now accepts different crytos and allows you to exchange example BTC to ETH. If its a new site and ask for KYC, I wouldn't try to send anything to them, but if its an old site that has been running or operating for several years already, I would go for KYC.

Just because a site has been in operation for 3-4 years, there is no guarantee that they can be trusted. Because the ownership of these casinos change very frequently, and if someone is able to purchase a well reputed and long running gambling site, there is no surety that he is very clean. With the amount of identity forging going on these days, I would treat KYC as a last resort. And I am definitely against doing KYC in any of the gambling sites, no matter how reputed they are.

You just don’t want KYC for reasons best known to you because if you truly desire to drop your KYC you will understand that a reputable site that have been in operation for years will not compromise its standard for any reason. KYC regulation is just a way to have details of a clients and no reputable site would do anything bad with it.

If your fear is what if the reputable company sells over to a new management entirely, well I feel a reputable company would hand over to someone they can trust , because they’ve already successfully built a brand name and they will not allow it go on the mud for any reason.

[darklus123]

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.

Most of the online casinos would actually not care about the fraud or whatever that is. There are actually two reasons why some of them are doing it, It's either they follow the law of their nations or they wanted to get more personal information for their personal gains.

It is really necessary for most of the trading sites because most of them registered their business unlike casinos which is in the first place it's legality is not clear.

[adzino]

People gamble online using crypto currencies so that they can do it anonymously. Then whats the use of them gambling online with crypto currencies if they will have to expose their identity? Again, I have seen different casinos that asks for KYC form fill up after someone tries to make huge withdrawal. They just try to find as much excuses they can to avoid paying them.
Though I won't be deny the good sides of KYC.

[BlueStackz]

You just don’t want KYC for reasons best known to you because if you truly desire to drop your KYC you will understand that a reputable site that have been in operation for years will not compromise its standard for any reason. KYC regulation is just a way to have details of a clients and no reputable site would do anything bad with it.

If your fear is what if the reputable company sells over to a new management entirely, well I feel a reputable company would hand over to someone they can trust , because they’ve already successfully built a brand name and they will not allow it go on the mud for any reason.

Your statement about feeling that a reputable company would sell over to another reputable company makes me laugh. It looks like you are not too familiar with gambling operators. No reputable casino site should be 100% trusted. If you have no issues with submitting KYC cool, there’s no problem at all but you should not do it based on trust.

I cannot gamble on a site that requires KYC not because I don’t trust them but because I hate to leave my personal information on a gambling site. Online gambling is all about anonymity and that is what gives it advantage over all kind of ambling, so I expect it to remain like that always.

[ausbit]

Well you can't blame gambling sites nowadays to add KYC since gambling sites now accepts different crytos and allows you to exchange example BTC to ETH. If its a new site and ask for KYC, I wouldn't try to send anything to them, but if its an old site that has been running or operating for several years already, I would go for KYC.

That's the way to do it. If the casino has already established itself as a trustworthy site, then and only then will I try to transact with it even if there's KYC.

How do you know a casino sites that has established itself to be trustworthy? Is it based on reviews or based on its years of existence? That’s hell no: Shits happen in the gambling industry and no casino site can be trusted for a lifetime. They may have been on for some time, but they can decide to bring out their true color at any point.

What if the so called trustworthy site becomes bankrupt and needs to make money at a point or what if the management changes and the system changes entirely to become corrupt and that’s the point you decide to submit your KYC, I think it is risky and for me, I don’t care how  reputable a site is, if it has to do with gambling, I don’t submit my KYC.

That’s very true mate. I saw sense in your post. Most of the times I base my trust on casino sites based on the years they have existed and that is the reason why I never on new sites but I just realized there is possibility of old famous sites handling over to a new management.

Submitting KYC is a great risk irrespective of the site involved, What’s now the essence of anonymity in gambling? The reason I particular ran away from fiat to online gambling is because I respect my privacy and I don’t like to disclose my personality as a gambler, so it will defeat the objective if I still see myself submitting my private information on a casino site.

[SirLancelot]

People gamble online using crypto currencies so that they can do it anonymously. Then whats the use of them gambling online with crypto currencies if they will have to expose their identity? Again, I have seen different casinos that asks for KYC form fill up after someone tries to make huge withdrawal. They just try to find as much excuses they can to avoid paying them.
Though I won't be deny the good sides of KYC.

Exactly. The purpose of using cryptocurrency in gambling is to stay under the mask and disable every system which could possibly document your identity. Now if you have KYC on your website that is a gambling website, the number of users on the website would be too low because it is not desirable for the gamblers to click and pass through the KYC. They would look for another website with no KYC.

[uray]

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

The problem with KYC in gambling site is that some of the countries does view gambling as a grey area and they might not be having a clear regulation and people will avoid providing their details as they do not want any trouble for having fun in the form of gambling. Some people are not fortunate to have freedom and bitcoin should help people who are living in other part of the world who does not have those opportunities and are living under dictatorship or strict religious rules, money laundering should be curtailed but the freedom should not be curtailed either.

[michellee]

People gamble online using crypto currencies so that they can do it anonymously. Then whats the use of them gambling online with crypto currencies if they will have to expose their identity? Again, I have seen different casinos that asks for KYC form fill up after someone tries to make huge withdrawal. They just try to find as much excuses they can to avoid paying them.
Though I won't be deny the good sides of KYC.

Exactly. The purpose of using cryptocurrency in gambling is to stay under the mask and disable every system which could possibly document your identity. Now if you have KYC on your website that is a gambling website, the number of users on the website would be too low because it is not desirable for the gamblers to click and pass through the KYC. They would look for another website with no KYC.

Gamblers will stay away from the site which uses KYC because they don't feel right to pass the KYC. They prefer to search the other gambling site which doesn't use KYC because they want to protect their identity from the scamming. So in this way, I will say that having KYC in the online casino will not good for the gamblers, and you will not attract many gamblers who will come to your site.

[neonshium]

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

The problem with KYC in gambling site is that some of the countries does view gambling as a grey area and they might not be having a clear regulation and people will avoid providing their details as they do not want any trouble for having fun in the form of gambling. Some people are not fortunate to have freedom and bitcoin should help people who are living in other part of the world who does not have those opportunities and are living under dictatorship or strict religious rules, money laundering should be curtailed but the freedom should not be curtailed either.

That is right. There are even countries with strict regulations and penalties against gambling and people in order to gamble in such countries have to use crypto to take care of the transactions. The presence of KYC on certain gambling or casino sites make things messed up and these gamblers rather look for other ways to make sure they stay safe and gamble safe. KYC is for financial transparency and AML thing.

[pinoycash]

For all Casino platform that deals with Fiat Money, Credit Card and Bank Transaction a KYC procedure is a must and should be strictly followed,. If you don't want to do KYC don't play on those casino platform.

Casino that mainly deals with cryptocurrency hardly require KYC to their members and since cryptocurrency is anonymous and private in nature KYC is not relevant.

This sum up all the discussion on this thread and lets all stop now

[panjul07]

For all Casino platform that deals with Fiat Money, Credit Card and Bank Transaction a KYC procedure is a must and should be strictly followed,. If you don't want to do KYC don't play on those casino platform.

Casino that mainly deals with cryptocurrency hardly require KYC to their members and since cryptocurrency is anonymous and private in nature KYC is not relevant.

This sum up all the discussion on this thread and lets all stop now

Nope, here in my country there are so many online gambling sites that deals with Fiat Money through bank transaction but all of them do not ask for KYC. They do not even ask users to provide address or identity card, what people need to provide are only phone number, email, and bank accounts.
This is what I like from local fiat online casinos in my country because I do not need to submit my ID card, submit a selfie holding the ID, etc.

[ruthwithers1980]

For all Casino platform that deals with Fiat Money, Credit Card and Bank Transaction a KYC procedure is a must and should be strictly followed,. If you don't want to do KYC don't play on those casino platform.

Casino that mainly deals with cryptocurrency hardly require KYC to their members and since cryptocurrency is anonymous and private in nature KYC is not relevant.

This sum up all the discussion on this thread and lets all stop now

Nope, here in my country there are so many online gambling sites that deals with Fiat Money through bank transaction but all of them do not ask for KYC. They do not even ask users to provide address or identity card, what people need to provide are only phone number, email, and bank accounts.
This is what I like from local fiat online casinos in my country because I do not need to submit my ID card, submit a selfie holding the ID, etc.

Asking for the customer's phone number and bank account details is part of KYC.

[GreatArkansas]

Big red flag for me the KYC things, especially that casino is using cryptocurrency for their platform. Since crypto is for decentralization then that kind of platform should be also, but we can't force them to submit their personal identification for KYC, if they don't want, they can use another alternative platform for gambling.

[rosezionjohn]

[...]If you don't want to do KYC don't play on those casino platform.

Yes, this is it. There's no point in arguing here. I don't think the owner/s of casino platforms cares anyway.

snip

Nope, here in my country there are so many online gambling sites that deals with Fiat Money through bank transaction but all of them do not ask for KYC. They do not even ask users to provide address or identity card, what people need to provide are only phone number, email, and bank accounts. This is what I like from local fiat online casinos in my country because I do not need to submit my ID card, submit a selfie holding the ID, etc.

They don't have to because the banks already did the KYC verification for them.

[Kanda Yu]

Many online casinos require you to pass KYC to withdraw funds. The main question is can these casinos be trusted with your personal info. In my opinion,  it wouldn't do more good for you.

I think some of the websites have a good trusted so far. But we have our choice to stay away from them because they want us to pass KYC. We have the other casinos which will allow us to withdraw the funds without pass KYC and I think that casinos are trusted too. But I don't want to pass any KYC on any website because it's too risky for me and I think that many identifications have been spread in the dark web.

Indeed, I am not unto to casino that requires KYC because first of all, I want to keep my identity out of this community due to some article which what I have read that they use your information to do evil deeds. Actually, I wasn't sure if this article is true or not but it is still as much as possible keep our identity hidden for safety. There are still a lot of crypto casinos who don't require KYC like the place where I used to play, for a withdrawal system one of its features is to have a fast transaction, therefore, you don't need to worry about it. It also has live dealers thus make it 100 percent credible crypto casino.

[sana54210]

People gamble online using crypto currencies so that they can do it anonymously. Then whats the use of them gambling online with crypto currencies if they will have to expose their identity? Again, I have seen different casinos that asks for KYC form fill up after someone tries to make huge withdrawal. They just try to find as much excuses they can to avoid paying them.
Though I won't be deny the good sides of KYC.

Exactly. The purpose of using cryptocurrency in gambling is to stay under the mask and disable every system which could possibly document your identity. Now if you have KYC on your website that is a gambling website, the number of users on the website would be too low because it is not desirable for the gamblers to click and pass through the KYC. They would look for another website with no KYC.

Gamblers will stay away from the site which uses KYC because they don't feel right to pass the KYC. They prefer to search the other gambling site which doesn't use KYC because they want to protect their identity from the scamming. So in this way, I will say that having KYC in the online casino will not good for the gamblers, and you will not attract many gamblers who will come to your site.

You are very right. I don’t think there is any gambler that would like to gamble on a casino site that asks for KYC with the news of scam all over. Whatever might be the reason sites ask for KYC is not any gamblers concern.

I want to use myself for example, I have always been using a particular site, won’t like to mention the name. Sincerely, I like the site but since the new introduction of KYC on that site, I stopped visiting or even playing there. There are too many good and reputable sites that do not ask for KYC and I can’t agree to be tied down to one.

[OrangeSeller]

For all Casino platform that deals with Fiat Money, Credit Card and Bank Transaction a KYC procedure is a must and should be strictly followed,. If you don't want to do KYC don't play on those casino platform.

Casino that mainly deals with cryptocurrency hardly require KYC to their members and since cryptocurrency is anonymous and private in nature KYC is not relevant.

This sum up all the discussion on this thread and lets all stop now

Nope, here in my country there are so many online gambling sites that deals with Fiat Money through bank transaction but all of them do not ask for KYC. They do not even ask users to provide address or identity card, what people need to provide are only phone number, email, and bank accounts.
This is what I like from local fiat online casinos in my country because I do not need to submit my ID card, submit a selfie holding the ID, etc.

This is actually good to have such casinos that do not ask for KYC and have the transaction through fiat facility. I think that the casinos at which you have to go through know your costumer process does not get many users due to the identity reasons. This is not a problem with the fiat but just cryptocurrency because they fear you might make huge transactions.

[GregH37]

For all Casino platform that deals with Fiat Money, Credit Card and Bank Transaction a KYC procedure is a must and should be strictly followed,. If you don't want to do KYC don't play on those casino platform.

Casino that mainly deals with cryptocurrency hardly require KYC to their members and since cryptocurrency is anonymous and private in nature KYC is not relevant.

This sum up all the discussion on this thread and lets all stop now

Exactly mate. It’s really tiring the way they make it feel like it is a do or die thing to gamble on sites that requests for KYC.  Most of the gambling sites that uses cryptocurrency don’t ask for KYC and I feel crypto gambling sites is even easier to gamble on aside the KYC  Stuff.

I have long stopped gambling on fiat casino site and crypto casino sites makes transfer easier and faster, and in addition, most of the crypt casino sites that I am aware of will not ask for KYC.  Since I hate my private information in public and I love to keep my information private, I don’t see any reason to play on sites that are bent on KYC.

[davinchi]

Big red flag for me the KYC things, especially that casino is using cryptocurrency for their platform. Since crypto is for decentralization then that kind of platform should be also, but we can't force them to submit their personal identification for KYC, if they don't want, they can use another alternative platform for gambling.

Indeed. Nothing can be more annoying than a crypto casino site that asks for KYC. Considering that crypto currency is all about decentralization one would expect that any crypto accepting gambling site would follow suite, but some would still be requesting for KYC. It can be so annoying and for me, I don’t go near them at all, after all that’s not the only site.

There are so many gambling sites that accepts Bitcoin and other cryptocurrency and as well don’t pay attention to KYC regulations. I know of fortune Jack. I have been using this site for a while now and there’s nothing like KYC, and it also offers too many varieties of interesting games.