Reasons Crypto Players Skip Casinos with KYC

[redsun114]

There is no problem for most of the player to submit KYC since they are not doing anything illegal but they are not going to trust some online site with their personal information so they will go for sites without KYC since there are many sites available for us.

Of course you cannot trust someone with your information by going through a KYC. Did not you see how Binance got hacked? It is nothing but access to these information that can make you prone to a hack. I think that KYC is the reason why many people prefer not to go for crypto gambling or look for alternate ways. To be honest, I will never trust any site with my information.

[Kanda Yu]

I think crypto players skip casino with KYC because they only visited the gambling site just to play and to earn profit, some players skip KYC because it is just a waste of time for them. I am also playing in crypto casino because i love playing poker and baccarat, and honestly i also skip KYC only for untrusted gambling sites because i don't want to reveal my information in sites and some times my only intention is to play. It is really difficult to share your identity nowadays because other people could use your information to other people that will makes you a criminal, that is why it will be better if you just keep yourself invisible to untrusted sites.

In my own personal point of view, the reason why crypto players skip casinos with KYC. First, there are some countries who declared online gambling sites are illegal that makes them don't show their identities. Second, some players see KYC as a waste of time because it takes a lot of time filling up the form. Lastly, some players don't want to share their information and identities because they are afraid that their information could be use for illegal activities like fraud and scams. Actually the crypto casino that i am playing is safe and secured site which you can really play conveniently and safely. The crypto casino that i have been playing also offers a lot of bonuses and a lot of casino games like poker, baccarat, blackjack, roulette, and video slots. Anyways, I am also one of the players who skip Casinos with KYC because i am also afraid for giving my identity because of scams and fraud.

Indeed. So basically, the point is that people want to keep their identities to themselves and in my point of view I don't like KYC and for some reason it good to have. In the field of gambling, I don't think KYC would be necessary because folks are just here to play and to have fun besides in some countries gambling is prohibited and they don't want to be divulged. Probably in the field of trading and investment, it would suite because it is all about big funds and big transaction so I think KYC will be more appropriate in that field. Maybe there is some bitcoin casino who is not worthy but thanks for this forum we could able to determine which is reliable or not, for example, I have been in this crypto casino and it is really legit and interesting, have spectacular features and even captivating bonuses. It sure does have live casino gameplay and variety of games so there's nothing to worry about.

[HatakeKakashi]

The reasons why the players don't want KYC because maybe they did not want to know other people their Identity because for me as a player also I don't want a gambling site who are implementing KYC so Im still playing to the gambling site who don't need KYC to secure my personal information or for my security. We know we can trust anyone in the online world so I think better for us to not submit KYC unless it's really needed.

[prtty2gal2]

One thing that's noteworthy: Casinos that required KYC and went bankrupt after some time could sell the info they gathered from their players. On LinkedIn, you will see some profiles there sending messages containing intention to sell a database of info of thousands of players. The next you know, your email is now being bombarded with spam and unwanted messages from unknown senders. And what of your credit card info? Things get scarier when your financial details are now exposed.

I am completely against gambling on a casino site that request for KYC and I run as much as I can from such sites and my reason is mainly because if I like to keep my information private, if its called a gambling site then secrecy is vital.

But I don’t want to believe any site would sell out the information’s of their players except they are no longer in operation.  And the sites that can easily carry out this type of act are sites that are not licensed or most of this new casino sites that can appear today and the next thing they have disappeared. You have a great point though and it’s important we have that at the back of our hearts that is for those who ever considered gambling on a KYC demanding site.

[cryptjh]

Giving away KYC to any crypto related site can be a future threat to you in the future if the price of bitcoins keeps increase in the next many years, then a leak KYC register from a crypto related site be a problem for the people on that KYC list.

[Oilacris]

personally I have no problems with KYC , but surprised that nobody mentioned that KYC sites are usually the ones that limit winners

in sportsbetting so far I joined two sites that have KYC and both of these sites limited me in short time
but bookies that have no KYC won't bother limiting you , cause simply you can just create a new account and start again

that doesn't mean that all sites with KYC will do that but the majority do , asian brokers usually have KYC but they won't limit you even if you win hundreds of thousands

It would differ on each bookies yet terms would vary according on what they do like.They may or may not limit even if you do
already comply with the KYC or verification.Even i, don't really have problems with KYC as long i do know that its really needed on my
part but i do prefer on staying anonymous online but there are instances which is unavoidable.

[bonker]

Definitely the privacy was affected due to this changes in gambling field especially the KYC is build for making the transparency in anything so it will not suitable for some people that's why they skip this process and search for some other sites.

[xWolfx]

Why don't you summarize your article(if you were the writer of it) in your thread? It's better for users to see it on the thread before opening the link. Since, there were many malicious files/links in this forum. Anyway, the article is real, these are also my reasons why I don't want KYC in Casinos. But, it is needed whenever you got a big prize.

I don't think that only in this forum but all over the internet. It's the same thing of not wanting verification for exchanges or any kind of service. At the end it's about ideology and personal philosophy.

In my case i don't think that it is the biggest verification mechanism since they buy IDs and Passport pictures of people really cheap in some sites, especially from poor countries and they bypass the verification really easily.

[MakeMoneyBtc]

I think the main reason why most people avoid crypto casinos with KYC is because crypto was created for anonymity and when we are talking about KYC that's gone. People choosed to use crypto casinos especially because they know here they don't have to worry about their identity being verified. Also most crypto casinos that ask for KYC are not even licensed so why would anyone give their identity information to a new website that doesn't even share the real identity of its owners?

[BossMacko]

I think the main reason why most people avoid crypto casinos with KYC is because crypto was created for anonymity and when we are talking about KYC that's gone. People choosed to use crypto casinos especially because they know here they don't have to worry about their identity being verified. Also most crypto casinos that ask for KYC are not even licensed so why would anyone give their identity information to a new website that doesn't even share the real identity of its owners?

You are correct most crypto casinos are not licensed so giving them our identity can lead to identity theft. That is why i am just playing with website that doesn't need KYC. Beware also on some crypto gambling site when you deposit <10 BTC it doesnt require you for KYC but once you are trying to withdraw 10 BTC+ including your winnings they will ask for KYC it means that if you are not able to provide KYC your coin is good like a donation.

[maydna]

Giving away KYC to any crypto related site can be a future threat to you in the future if the price of bitcoins keeps increase in the next many years, then a leak KYC register from a crypto related site be a problem for the people on that KYC list.

We don't know if the document will be safe in their hands or not because not every gambling site can always secure from the hackers. It is our jobs to protect our document so other people cannot abuse the document for illegal activity. I think many people don't want to get a bad experience from the illegal activity and they better to stay away from that.

Fortunately, we have so many gambling websites which don't need to complete KYC so we can play gambling without worry if they abuse our document because we don't send any document to them.

[ricardobs]

Giving away KYC to any crypto related site can be a future threat to you in the future if the price of bitcoins keeps increase in the next many years, then a leak KYC register from a crypto related site be a problem for the people on that KYC list.

That is right and no gambler would love to be part of the gambling site that asks you to go through a KYC. I think that the benefit of hiding your identity by making transactions using crypto is no longer there if you prefer to go for a gambling site with KYC. Majority of the gamblers just skip such sites and look for sites that are good to gamble at.

[Pattart]

Lets me quote the 4 reasons in this thread:

#1 Compromised Anonymity
#2 Fear of Info Exploitation
#3 Hassle
#4 Country Restrictions

Further details of each reasons can be read on the added link by OP.

I myself one of those who against KYC procedure for betting purpose in this bitcoin/crypto gambling industry. I have to say that 4 above reasons are enough to represent my situation but the main important reason why I choose to gamble with crypto is about its anonymity. In case all crypto gambling sites requires KYC in the future, I think I will stop gambling as there is no reason for me to continue as I gamble for fun only so I do not want to reveal my identity in online gambling.

What is harmed by a house or gambling site if they do not apply KYC? I'm sure most crypto users will never play on gambling sites that require KYC on their site. the reason is simple, of course they want to remain safe and anonymous. and of course I will avoid that site, there are still many gambling sites after all

[onrise]

People are just not comfortable to show or provide the KYC details which becomes public or if leaked from the casinos it could have adverse effect and thus in order to hide it they do not want to play in casinos which have the KYC norms .

[dentolas]

KYC is supposed to be beneficial for both the casino and the payers security, but when you send personal info accross the web, you are putting yourself at risk, not only concerning the potential "deviation" of that info between your PC and the casino server, but also if the casino has a leak or doesn't store the info in a safe manner.
traditional KYC can't be the future, internet is getting unsafer by the day and you are just exposing too much to be worth... I think services like CIVIC can in fact cover this lack

[Ucy]

Number two is the main reason people avoid KYC.
  It can be exploited by hackers, the gambling sites or even by lawless/tyrannical governments. There should be strong law to protect id owners from such exploitation else sites with the ID won't care about keeping them safe from exploitation

[proTECH77]

````` But, it is needed whenever you got a big prize.

Even though at that, i will never give out my real identity, just becasue i won a very huge and big price; to the detriment of my life. KYC, i will never be involve and if get involve unknowingly, i will leave whatsoever profit or rewards behind and strive for another, that will not reveal my true identity(not require KYC). My data worth more than million dollars.

[Vaculin]

Number two is the main reason people avoid KYC.
  It can be exploited by hackers, the gambling sites or even by lawless/tyrannical governments. There should be strong law to protect id owners from such exploitation else sites with the ID won't care about keeping them safe from exploitation

Yes. Gamblers want to remain anonymous as much as they want so they will surely avoid KYC and just play on casinos that don't require KYC anymore.Security and safetiness at first before anything else even if it means huge profits from winning from those casinos.

[jhongzjhong]

Number two is the main reason people avoid KYC.
  It can be exploited by hackers, the gambling sites or even by lawless/tyrannical governments. There should be strong law to protect id owners from such exploitation else sites with the ID won't care about keeping them safe from exploitation

Yes. Gamblers want to remain anonymous as much as they want so they will surely avoid KYC and just play on casinos that don't require KYC anymore.Security and safetiness at first before anything else even if it means huge profits from winning from those casinos.

Majority of online gamblers are they wanted of being anonymous, they don't want KYC. I don't know if why KYC also needed in the gambling site, I think that is not the necessary thing to do because gamblers are care with their identity or exploitation. I don't personally want KYC also, there is a lot of gambling sites out there that didn't have KYC so why you risk your personal identity/data just to gamble.

[sana54210]

KYC is supposed to be beneficial for both the casino and the payers security, but when you send personal info accross the web, you are putting yourself at risk, not only concerning the potential "deviation" of that info between your PC and the casino server, but also if the casino has a leak or doesn't store the info in a safe manner.
traditional KYC can't be the future, internet is getting unsafer by the day and you are just exposing too much to be worth... I think services like CIVIC can in fact cover this lack

Do you really believe anyone would submit their KYC to these sites, it’s only a matter of time and they would realize that gamblers are not interested in this crazy regulation that is for their own good and not for the good of players.

Hackers are becoming stronger in their game and leaving personal information’s online the days is so unwise. Like you have mentioned having a civil app will not be a bad idea, at least it that can at least help them scan and confirm that their documents are okay, so that it can  meet up with the KYC demand.  I cannot play on a KYC site, and I am so happy that there are still casino sites that do not ask for it.