Reasons Crypto Players Skip Casinos with KYC

[RivAngE]

The article has 4 reasons, but I'll name a 5th one,
Uncertainty of tax/fees.

If someone has 49% to win $1000 and 51% to lose $1000, they might consider it a fair probability to gamble.
But if they are to be taxed 20% or 30% in case they win, then that's 49% to win about $750 or 51% to lose $1000. A pretty stupid gamble to take.
Therefore, in order to make sure one won't receive a bill in their doorbell after a few months, it's natural they'd expect an anonymity.

That's a 5th reason.

[syamster]

Yes, there is crypto players want to skip casino because of KYC, sometimes many requirements required and need to wait long time for Kyc aproval and for me if you are a gambler is better to be unknown for safety purpose.

This is not a rocket science and is very easy to comprehend. They do not need and want a KYC that can trace them down in few seconds and that can bring them under the accountability. It can make you pay a part of your money won in gambling as tax money to the state as well and this is something no one would love to do hence no KYC.

[Dontme]

Well some of their reasons why they don't want kyc is that they don't want to expose their identity especially in money matter in this digital world. For me kyc is good but let's respect others opinion about it since we are not all the same. So of them skip it since there are a lot of requirements like what other said here.

[Pamadar]

Yes, there is crypto players want to skip casino because of KYC, sometimes many requirements required and need to wait long time for Kyc aproval and for me if you are a gambler is better to be unknown for safety purpose.

This is not a rocket science and is very easy to comprehend. They do not need and want a KYC that can trace them down in few seconds and that can bring them under the accountability. It can make you pay a part of your money won in gambling as tax money to the state as well and this is something no one would love to do hence no KYC.

Exposing your identity can also put yourself at risk, we never know who's behind the clearing team of those casino house asking for KYC, what if they also selling out your information, risk will be there not only for your money but also for your safety if you won a huge amount of money, a very reason crypto gamblers wanted to remain anonymous, though still, whatever purposes for skipping this process will be for the gamblers own opinions.

[mich]

It may not be such a desired option to have to turn over your identity but if its the only option to playing at a casino, is it worth it for you
If you have nothing to hide and enjoy a certain casino that may ask for kyc, just dont break any laws and the rest will be ok
I laugh at some of the people on here who are so fearful of the kyc procedure that they think the local govs will come after them 
I have done the kyc procedure with 3 BITCOIN casinos and guess what I am still alive and well

[Twinkledoe]

It may not be such a desired option to have to turn over your identity but if its the only option to playing at a casino, is it worth it for you
If you have nothing to hide and enjoy a certain casino that may ask for kyc, just dont break any laws and the rest will be ok
I laugh at some of the people on here who are so fearful of the kyc procedure that they think the local govs will come after them  
I have done the kyc procedure with 3 BITCOIN casinos and guess what I am still alive and well

Most people really do have that kind of mentality. They thought that accomplishing the KYC procedure will be a real danger to their identity. And yes, if you are confident that you are following the necessary guidelines and being a good citizen. Then, I don't think you have something to be afraid of just by filling out kyc stuffs. But remember, only to authentic ones, because other gambling websites might just use your info for other scamming activities.

[monalia]

Gambling are 100 and more numbers in the marketplace.

If you want to use the gambling site you can use the available gambling where is no kyc verification things.
Then bitcoin is anonymous and the bitcoin users who love the gambling also wish the same.

[Vaculin]

Gambling are 100 and more numbers in the marketplace.

If you want to use the gambling site you can use the available gambling where is no kyc verification things.
Then bitcoin is anonymous and the bitcoin users who love the gambling also wish the same.

Right. There are still gambling sites that don't require KYC. While others understand the KYC procedure and share their personal information, as much as possible i still want to play anonymous from other gamblers out there so i gamble only where there is no KYC requirement.

[RealMalatesta]

But what is really bad about submitting KYC? Is it not just filling of personal information? This is what i do in most exchanges when i want to carry out a transaction  and even ICOs  

KYC ask for your information and valid ID giving this kind of information to any site is risky.
it may look like a small thing for you but it can be use in different and illegal things which might
put you in an undesirable situation.

KYC Is not good to me also as a player of gambling, I don't trust anyone because what if those gambling site that I pass KYC or my Identity will turn as scam and all the information of the player uae to bad things like scamming others. Im always be acreful to what action I made or even every single information I can do all to hide my informatiom for my own security because it is risky and we all know that.

I am very sure that before you choose to gamble on a site, you take out goo research to be sure it’s a legit site and even the site operators are aware that gamblers do this and its for the safety of the gamblers which is good. Most of these gambling sites requesting for KYC are licensed sites and the casino sites also expect that you know this.

If you are then not confident enough to trust a site you choose to play games, how do you expect them to trust you as well. Because I feel the reason for the implementation of these is to eradicate fraudulent acts, and if you have a clear heart then it should mean nothing and you can as well trust your casino site to keep to their deal of secrecy.

[rachman mahesa]

Gambling are 100 and more numbers in the marketplace.

If you want to use the gambling site you can use the available gambling where is no kyc verification things.
Then bitcoin is anonymous and the bitcoin users who love the gambling also wish the same.

Right. There are still gambling sites that don't require KYC. While others understand the KYC procedure and share their personal information, as much as possible i still want to play anonymous from other gamblers out there so i gamble only where there is no KYC requirement.

Most people do play anonymous gambling because they do not want to just play gambling must give identity to gambling sites. I also don't want to do KYC just playing gambling and sure enough, there are still many gambling sites that players don't have to do.

[samputin]

Well, people will have different say about this KYC feature. But as we all know, KYC is implemented for some reason and that reason was already mentioned at the original post. Though it was clear, we cannot deny that it is viewed by some as hassle like the number 1 reason why they skip online casinos with KYC—anonimity. Though KYC is rooted from the trust issues of the website and for its security, the player is not 100% certain that his/her identity will not be revealed. Because after all, bandits are now also coping with the technology thus using it for their advantage. And besides, we considered online gambling so that we can protect our privacy. If KYC is a requirement in online gambling, then might as well we just gamble on fiat because there's no more difference. We are not anonymous at all.

Well, that's just my POV which is based from what I have read on this forum regarding KYC—they primarily want to avoid the hassle and want to keep their anonimity. I'm not pro or against KYC because I do not consider myself as a gambler. So I'll leave the decision up to those who really gamble whether they want to skip online casinos with such or just go along with it.

[ethereumhunter]

Gambling are 100 and more numbers in the marketplace.

If you want to use the gambling site you can use the available gambling where is no kyc verification things.
Then bitcoin is anonymous and the bitcoin users who love the gambling also wish the same.

Right. There are still gambling sites that don't require KYC. While others understand the KYC procedure and share their personal information, as much as possible i still want to play anonymous from other gamblers out there so i gamble only where there is no KYC requirement.

We can choose that gambling site which doesn't need KYC, and we can play without thinking about sending any document. Protecting our identity from any potential hacking or scamming will necessary because if it's not us, who can save our documents while it's too risky to send the document into any website. It is better to prevent something worse rather than we can get trouble in the future.

[Betwrong]

The article has 4 reasons, but I'll name a 5th one,
Uncertainty of tax/fees.

If someone has 49% to win $1000 and 51% to lose $1000, they might consider it a fair probability to gamble.
But if they are to be taxed 20% or 30% in case they win, then that's 49% to win about $750 or 51% to lose $1000. A pretty stupid gamble to take.
Therefore, in order to make sure one won't receive a bill in their doorbell after a few months, it's natural they'd expect an anonymity.

That's a 5th reason.

Good point! Indeed it is annoying when they tax gifts, inheritance or winnings in gambling. And in gambling, if you think of it as of an additional house edge, your chances of winning become much much smaller than that without the taxes. They would better be taxing corrupt politicians who steal millions and billions USD from people, than gamblers who win $1,000 in a year.

[kaya11]

It may not be such a desired option to have to turn over your identity but if its the only option to playing at a casino, is it worth it for you
If you have nothing to hide and enjoy a certain casino that may ask for kyc, just dont break any laws and the rest will be ok
I laugh at some of the people on here who are so fearful of the kyc procedure that they think the local govs will come after them 
I have done the kyc procedure with 3 BITCOIN casinos and guess what I am still alive and well

Only if the casino you are giving you identities is worth the try, some casinos out there are doing under the hood jobs, even worst are selling your identities. I know the I am against KYC but everyone have to be respected and hide their identities especially on the world of internet, this is a critical world.

[bitgolden]

Most people avoid casino's with KYC just because they care about privacy and this is the important factor that cryptocurrency gambling to be more popular in short term.

Privacy is important and no one will fight that aspect, but what makes us think these information are not kept private with the casino site and why cant we trust that can’t trust that they will not expose it. Most of the sites we gamble on are old sites that have been existing for long and most the times we choose them because of these reason, so if we can choose this site with our Bitcoin and money, what is then mere information we dread so much to submit with them.

I think there is more to gamblers refusing to fill KYC form on casino sites aside from privacy. Moreover I think most casino site have clearly defined reasons why they need it and its mainly because of money laundering.

[Sharon121212]

Individual has there different reason for avoiding casino or any other gambling site which requires know your customer process.
Some might be for
1. Security reasons: you can never tell what they do with those details you provide to them so this makes people scared.
2. Stringent process: so know your customer process are just too tasking and time wasting

3. Evil intentions: so customers with bad intentions would not want to be identified so they avoid those type of casino

[Duzter]

People always want things to take place anonymous. When this is possible through the usage of cryptocurrencies the demand of cryptocurrency functional gambling websites keeps growing. Bitcoin is said to be pseudo anonymous when it comes to transactions which keeps the mind of common people under control.

[nikola22]

because crypto players prefer cryptocurrency and it means privacy. KYC on the contrary reveals who you are and it's no good.

[Finestream]

because crypto players prefer cryptocurrency and it means privacy. KYC on the contrary reveals who you are and it's no good.

Exactly.Gamblers chose crypto gambling because its real identities are not revealed but with KYC that is happening right now,I think there is no 100% security that all our personal information will not be revealed.I understand its for the security between the gambler and the gambling sites but still i am not confident in giving my personal information to any of those staffs in casinos.

[seleme]

because crypto players prefer cryptocurrency and it means privacy. KYC on the contrary reveals who you are and it's no good.

Exactly.Gamblers chose crypto gambling because its real identities are not revealed but with KYC that is happening right now,I think there is no 100% security that all our personal information will not be revealed.I understand its for the security between the gambler and the gambling sites but still i am not confident in giving my personal information to any of those staffs in casinos.

KYC is not only used for finding a real person behind the funds. If that was a case the casino stuff should ask questions about the source of funds in my opinion. GDPR regulation rules don't let the real casinos to operate without KYC and this data is shared with the authorities too. Crypto gambling sites offer us freedom and decide how to use our own money instead of thinking about the potential privacy issues.