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

[fullhdpixel]

KYC is a confidential documents and we don't want it to give without a concrete reason cause we know the possibility if mishandled.
At this time, it looks like KYC is required and almost all exchanges and gambling sites asking for it to validate our registration most specifically with the withdrawal. If that so, we have no choice but to submit it otherwise, you left your money inside.

You can always do a quick search about the site you plan on gambling on and whether or not the site requires KYC at any stage of using the site through a search engine like Google. I typically do this before playing on somewhat newer casinos that I have my eyes on, and it's been working pretty well recently considering people are usually quick to point out any crypto site requiring KYC. That way, you'll (hopefully) never need to submit KYC on a gambling site again.

And I still haven’t seen a good reason why gambler fear to fill an ordinary KYC form that much, I do that often and I have no fears since I know that I have a clear conscience and I have no worries if my private information on a site would ever backfire at me, that’s just my opinion and if we are concerned about the security of the site, then it would also be the same with the money  we have in our bank accounts because nothing is ever 100% safe but some risks are just worth taking.

I think since the reason for KYC is mainly to check the activities of laundered money, especially in crypto gambling, it is expected for all gamblers to offer maximum cooperation to make this a success because at the end it is not only beneficial to the casino sites alone but also to the gambler.

You call those vital information they do ask in their KYC ordinary? You see reason why many people shy away from this KYC is not because most of them have skeleton in their cupboard or they are just trying to reject it for no reason, if the KYC was requested by government site, you will see that many people will have no single challenge with it, but we have lots of bad people in this crypto industry that would use one’s information for something that his different from the main purpose for which genuine company do request KYC for. Moreover, I really do not see much reason for any gambling site to request for KYC.

[Ryker1]

same here  . i dont also gamble on site that requires a kyc/aml because the main reason why i use crypto is because of anonimity . i dont want to publicitize my identity not even on a gambling site that requires registration and i also hide my ip address  but like you , im not totally against kyc's  . i like the agenda of kyc  .

Indeed, you were right. I also don't want gambling site that having KYC, feels like I don't want to expose my personal data on the gambling industry. People now are always hesitated to pass KYC due to recently a lot of projects are almost scam, so as much as we have to avoid that KYC we will do. Well, for me it is a bad idea that the gambling industry will implement KYC because gambling is not an investment just like ICOs.

[Duzter]

same here  . i dont also gamble on site that requires a kyc/aml because the main reason why i use crypto is because of anonimity . i dont want to publicitize my identity not even on a gambling site that requires registration and i also hide my ip address  but like you , im not totally against kyc's  . i like the agenda of kyc  .

Indeed, you were right. I also don't want gambling site that having KYC, feels like I don't want to expose my personal data on the gambling industry. People now are always hesitated to pass KYC due to recently a lot of projects are almost scam, so as much as we have to avoid that KYC we will do. Well, for me it is a bad idea that the gambling industry will implement KYC because gambling is not an investment just like ICOs.

There is no need of fulfilling the KYC to play on casinos, but to stay away from issues on withdrawal and deposit KYC procedure fulfillment is a must. Not all gambling websites request to fulfill KYC while majority of the services that keeps on regulating the KYC fulfillment is the exchanges as more ad more regulation is happening with the cryptocurrency related services.

[batang_bitcoin]

There is no need of fulfilling the KYC to play on casinos, but to stay away from issues on withdrawal and deposit KYC procedure fulfillment is a must. Not all gambling websites request to fulfill KYC while majority of the services that keeps on regulating the KYC fulfillment is the exchanges as more ad more regulation is happening with the cryptocurrency related services.

They have such reason for this, you have no choice but to fulfill what they are asking for the KYC or else your money will be stuck on them for a long time if you don't want to follow what they say about KYC.
The solution for this, choose those casinos that doesn't really require this or ask majority of the people in the community regarding their experience specifically about those casinos that requires it.

[sana54210]

KYC procedure in playing gambling seems like a lot of people don't like it, including me personally. Because according to many KYC people it is certainly very disturbing to do it just want to play gambling. So if there are gambling sites that have to do kyc in order to play, of course I will never play there.

I think people are really not getting the whole concept of KC and every policy they want to draft after creating a company, they want to include KYC in it which they implement without thinking deeply if such requirement is necessary or not.

The main reason for KYC is guide against the use of fund illegally and also to guide against money laundering, in the case of gambling, I don’t think there can be any case of such, and even if they have to know brief details about their clients, I think the little registration form is more than enough for such.

I am sure very soon, the way people are beginning to really discourage KYC, many company including gambling sites will eventually stop implementing it.

I think you forgot to add another reason which is to prevent minors and this is the aspect most gambler and I think this is the real cause for considerable consternation for most gamblers. KYC isn’t really the challenge and I am very sure the reason gamblers suddenly disappear or raise eyebrows when its time to fill this is because most  online gamblers are not of gambling age.

I know a lot of friend who are underage and not qualified by law to gamble but because of anonymity, they now gamble freely and this KYC regulation would never work in their favor, so you see why they would continue to fight it even though its for a good cause?

You have a good point and it’s true that some gamblers are against the implementation of KYC because of their age but don’t forget that the number of qualified gamblers who are going against this KYC implementation is quite higher that the minors you talked about and what this implies is that generally, gamblers are just against KYC for very good reason.

I think one of the most basic reason for this remains that they have the mindset generally that their information submitted on gambling sites, stands a chance of being ex[posed if the site ever gets hacked which is very possible.

[Vishnu.Reang]

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

[suzanne5223]

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

You're right and wrong because the cases of KYC don't only occur when the authorities are trying to give an excuse because we both know that some people did abuse the decentralization system of crypto currency but the issues of KYC usually happen in gambling when the player wins a huge fund so the company decide to ask for the KYC in case of any future problem may arise and they have to protect their business.

[Lanatsa]

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

You're right and wrong because the cases of KYC don't only occur when the authorities are trying to give an excuse because we both know that some people did abuse the decentralization system of crypto currency but the issues of KYC usually happen in gambling when the player wins a huge fund so the company decide to ask for the KYC in case of any future problem may arise and they have to protect their business.

You got some point but actually if the said gambling site do forseen such possible problem ahead in the future then why not just

simply ban out those countries that do have strict rules or laws regarding online or offline gambling?If they dont like possible problems
then banning it out would be their best choice.

[expless]

If the main intention is to prevent under-age players from participating in gambling, then I would say that KYC will be having hardly any impact. I have seen kids as young as 12 years using the Tor browser in my city. Don't you think that they will be tempted to use illegal gambling sites (where KYC is not required) in case the legal ones ask for KYC?

Kids like that are the main reason why it has become a thing of necessity for all sites to have KYC regulation. Don’t worry, its just a matter of time and I believe it would become mandatory for all genuine site and every gambler would have no choice than to adapt too this and for those who still find it difficult, they might be left between the option of either obeying or going to play on scam sites while they stand the risk of losing their money.

For those minors, by the time there is 100% compliance of all sites asking for KYC before license, they would have to wait till they are of gambling age or otherwise go to play on scam sites and lose all their money.

[joshy23]

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

Just and excuse or additional reason but the main one still according to the enforce laws that catering where the site are being registered, they are in need
of providing information as taxes will be needed to be implement, the business can be harmed by the government rules if they will not provide information to such big winners.

[sunsilk]

The main purpose of the KYC procedure is not to prevent underage users from gambling. It is just an excuse given by the authorities to implement KYC. If the underage players want, they can easily do gambling using the illegal or semi-legal sites, where no KYC rule is being followed. But the disadvantage is that such websites may be involved in money laundering and other suspicious activities and the government will be indirectly giving more business to them.

That can be one main purpose of KYC but I think there's more about it and I believe it's more of compliance of the local law that they have been required to do so.

There would be disadvantage for both end, users and the casino and mostly, we don't really want to pass on KYC because we value much our identities and a black market for IDs is also there where they can sell their customers identities. But if you trust the casino you gamble and it's okay for you to pass KYC it's up to you.

[Jjewelle29]

I think many don't want KYC on gambling because of personal detail its sounds not safe to be known the details of gamblers, and some KYC need more time to approve so, they don't want to wait and they dont want a hassle thing will happened.

[jhonjhon]

As long as the website is trusted and operating for years and has a good reputation, why not? I know that it is a hassle for some user to do KYC but I guess it's for safety reasons as well that it will never be exploited by abuser, cheater, or by worst to criminals or terrorist.

Correct, let us just think of the safety of our assets, if the side has good reviews then I think it is something that we can entrust our identities with, for me it is better safe that feel sorry in the end. Having KYC is good in the sense that if something bad or unlawful happened then they can easily locate the person involved.

[maydna]

Not only gambling , all the crypto platform businesses are looking for the non KYC option go get involved. We are not at all safe because of thatt pulling stealers and hackers.
We need to choose the good gambling without kyc. There are plenty of good site without kyc verification then why we need to choose others.

thats right, kyc can be seen in other crypto platforms other than gambling sites. i guess accomplishing kyc depends entirely on the player.
no one is forcing him to send his personal docs so one cant blame any site if something goes wrong along the way
make sure that once you fulfil the requirements, you know the risks involved. pretty simple...

If the site can be trustable, we are no problem to send any document to them. Right now, there is hard to search the trustable site because we see many new sites which says that they can protect the customer data. We need to know how good they are so we don't have to worry about sending the document to them. As long as we can search and get good reviews from the site, we can send the documents to them. Yes, we need to know the risk by sending those documents because once the documents are on the internet, we will become vulnerable to be the victims.

I THINK YOU AND I SHOULD KNOW BY NOW THAT THERE ARE NO TRUSTED casino sites, they might be fair in dealings but never to be trusted and moreover, casino sites are always vulnerable to hacking, so what happens when the site is hacked and the kept  information leaked? To me, this is even my major and only fear.

I have nothing against KYC agenda but as long as gambling is being played online and with involvement of crypto gambling, it will  ways be difficult to convince gamblers on KYC because what crypto stands for is anonymity and tis shouldn’t be compromised, I will never see myself gambling on a kyc regulated site.

That is what I am thinking so far. With the KYC, they have our identity, and they can use it for everything, and besides that, the casino sites can be the next target of hacking. We don't know how they can protect their site from the hacking because everything on the internet can be vulnerable.

I guess many gamblers will agree to choose the gambling site without needed KYC because they want to protect their identity and they don't want to be the target. We are glad that with cryptocurrency, we can save our identity from the hacking because we don't have to send any document to the site. That is one of the advantages of cryptocurrency which we can get it, and the gamblers can feel safe.

[aioc]

There should be an option, you will not go through KYC, as long as you are not going to withdraw a very huge amount, and the players should know that so he can control his withdrawal and playing time, but they should also offer more perks and premium to players who want to do KYC.

[Shova]

KYC procedure is necessary for fiat based gambling sites in order to provide info when authorities suspect of money laundering as many people have used casinos to whiten their black money. In case of crypto, crypto currency are just tokens that are traded in and out of fiat so when they are monitoring fiat, they don't need to monitor crypto. They are just like chips in casino.

[virasog]

same here  . i dont also gamble on site that requires a kyc/aml because the main reason why i use crypto is because of anonimity . i dont want to publicitize my identity not even on a gambling site that requires registration and i also hide my ip address  but like you , im not totally against kyc's  . i like the agenda of kyc  .

Indeed, you were right. I also don't want gambling site that having KYC, feels like I don't want to expose my personal data on the gambling industry. People now are always hesitated to pass KYC due to recently a lot of projects are almost scam, so as much as we have to avoid that KYC we will do. Well, for me it is a bad idea that the gambling industry will implement KYC because gambling is not an investment just like ICOs.

There is no need of fulfilling the KYC to play on casinos, but to stay away from issues on withdrawal and deposit KYC procedure fulfillment is a must. Not all gambling websites request to fulfill KYC while majority of the services that keeps on regulating the KYC fulfillment is the exchanges as more ad more regulation is happening with the cryptocurrency related services.

Gambling is not regularized so there is no point in getting kyc from the gamblers. Most gamblers do not go in physical casino and prefer online casino because they do not want to disclose their identity. If sites will demand kyc, many gamblers will move to other sites which do not ask for gambling. There are unlimited number of gambling sites so even if few ask for kyc, we can skip them.

[redsun114]

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.


I combined most of the responses of those who don't approve of the KYC process in casinos and was able to come up with an article: 4 Reasons Crypto Players Skip KYC Casinos

[im g]https://www.bestbitcoinslots.com/wp-content/uploads/2019/04/KYC-yes-or-no-1200x630.jpg[/img]

Also, here's another bitcointalk thread focused on those reasons: https://bitcointalk.org/index.php?topic=5136360.0;all

We can't really tell but one thing I do know for sure is that Bitcoin was made to be anonymous and if any casino wants to be allowing their players to bet with Bitcoin, I think they should allow those people an option to remain anonymous if that's what they would like to do. There's no point in forcing people to give up their info when you' already know what cryptocurrency is all about. It's only those that wants to be receiving their payment through banks and methods similar to that should be doing KYC as a must.

[Irvinn]

It seems to me that the requirements to provide passport data from investors and traders give a certain degree of security in the international format so that attackers could not use the activity on the cryptocurrency market for their criminal purposes.  But if we talk about KYC for gamblers, here in my opinion there is no danger and it definitely makes sense to pass passport control on.  Online casinos will only scare away gambling cryptocurrency users from their gaming resource.

[sunsilk]

There should be an option, you will not go through KYC, as long as you are not going to withdraw a very huge amount, and the players should know that so he can control his withdrawal and playing time, but they should also offer more perks and premium to players who want to do KYC.

Just like the option that Binance allows for the users that don't want to pass on their KYC. They limit up to 2 BTC amount of withdrawal but that's not how the casino regulations work, they have their own way of implementing KYC.

The only option that you can do is not to use them or follow their regulation if you want to pursue your withdrawal. You can pass on to their KYC and once you have your money, you can now have the option to stop using them.