Reasons Crypto Players Skip Casinos with KYC

[onrise]

Many are not comfortable with the team or the owner as they are not renowned or newly started and does not have any certificate which can prove their authenticity. Thus in order to avoid any leak of the personal data or misuse of it people do not want to do their KYC.

[TheUltraElite]

Many are not comfortable with the team or the owner as they are not renowned or newly started and does not have any certificate which can prove their authenticity. Thus in order to avoid any leak of the personal data or misuse of it people do not want to do their KYC.

Even if the owner is known and reputed you can never to be too safe with your personal date. Considering the normal average Joe out there, they dont want their internet ventures to be found out by their family do they? Neither would they want the police knocking at their door. So they would steer clear of any casino asking for KYC.

But think of the criminals who try to launder money using the casino as a temporary storage. For such sources the KYC has to be enforced so that the casino can give a subpoena if questioned by authorities. Thus KYC has good and bad effects and though people dont think of this much and tend to focus on the first one, the second one is very common.

[semobo]

There are gamblers that skeptical on that gambling site that has the implementation of KYC/AML because, for them, gambling is not the right way to expose your real identity to the public or on the internet. There's no problem for me if I undergo in passing personal data as long as the site is trusted and reputed enough and they are operated at least 1 year old.

Different gamblers have each different perspective way on adopting KYC because they want lurking around and remain of being anonymous since cryptocurrency is also anonymous.

For now exposing your privacy is not a big deal but if you turned out to be a millionaire in the next few years and all your sensitive information available on the sites of gambling,its really danger right?

Even if you do not become millionaire, your private data can be misused. It can be used for any agreement or proof in the unlawful and illegal activities and you can be in serious trouble if this happens. It is not advisable to give your personal data to websites on the internet which have no reputation.

That's what my reply defines to the above postbut many people not aware of that their information will get misused and also they are trusting the reputation of an online website when even the biggest online company steals and sells our identity to companies.

[RivAngE]

There are gamblers that skeptical on that gambling site that has the implementation of KYC/AML because, for them, gambling is not the right way to expose your real identity to the public or on the internet. There's no problem for me if I undergo in passing personal data as long as the site is trusted and reputed enough and they are operated at least 1 year old.

Different gamblers have each different perspective way on adopting KYC because they want lurking around and remain of being anonymous since cryptocurrency is also anonymous.

For now exposing your privacy is not a big deal but if you turned out to be a millionaire in the next few years and all your sensitive information available on the sites of gambling,its really danger right?

Even if you do not become millionaire, your private data can be misused. It can be used for any agreement or proof in the unlawful and illegal activities and you can be in serious trouble if this happens. It is not advisable to give your personal data to websites on the internet which have no reputation.

That's what my reply defines to the above postbut many people not aware of that their information will get misused and also they are trusting the reputation of an online website when even the biggest online company steals and sells our identity to companies.

Cough face-cough-book!

Even worse than being spammed with phising emails, if you win big you might have the government in your door the next day asking for 50% of your winnings!!

[shoreno]

There are gamblers that skeptical on that gambling site that has the implementation of KYC/AML because, for them, gambling is not the right way to expose your real identity to the public or on the internet. There's no problem for me if I undergo in passing personal data as long as the site is trusted and reputed enough and they are operated at least 1 year old.

Different gamblers have each different perspective way on adopting KYC because they want lurking around and remain of being anonymous since cryptocurrency is also anonymous.

For now exposing your privacy is not a big deal but if you turned out to be a millionaire in the next few years and all your sensitive information available on the sites of gambling,its really danger right?

Even if you do not become millionaire, your private data can be misused. It can be used for any agreement or proof in the unlawful and illegal activities and you can be in serious trouble if this happens. It is not advisable to give your personal data to websites on the internet which have no reputation.

That's what my reply defines to the above postbut many people not aware of that their information will get misused and also they are trusting the reputation of an online website when even the biggest online company steals and sells our identity to companies.

Cough face-cough-book!

Even worse than being spammed with phising emails, if you win big you might have the government in your door the next day asking for 50% of your winnings!!

No no no . the governments will never do that  . they wont come at your door step because that is a big hassel to them but instead what they will usually do is that they will charge you or the gambling site will charge you  tax after you won  . and whats the facebook thingy that you posted above ?  You mean facebook also steals our data ?  Your right though  . i have heard of that news before but its not really a big deal to some average joe . they only care about using facebook

[Altero]

We all just worried about our security and skipping casinos asking our personal details is the best thing we can do that of having regrets in the future.
Giving our personal data to someone we don't know is just risking our self at all. Not to be sure that it can be at safe keep or they'll be using it to some unlawful activities. Will have this trouble might fall into us.

[RealMalatesta]

I think it is more about comfort levels than anything else. I mean its not about even KYC at this point. Think about a casino that requests you to find the most ripe apple in your house and if you do not have any then go get one (send your passport and if you do not have one then go get one) and then take a picture of it and upload it with your face on the picture plus holding a sign saying you are who you are and then wait for confirmation.

Look this is just an apple, not passport, not have anything important but your face and you can just pick one from your home and pose with it and then get confirmed in few hours and gamble. Even that would be too much work for people when there are places that doesn't ask for anything, so I doubt its about KYC as much as "there are places that don't ask me so screw you" type of deal.

[Malsetid]

We all just worried about our security and skipping casinos asking our personal details is the best thing we can do that of having regrets in the future.
Giving our personal data to someone we don't know is just risking our self at all. Not to be sure that it can be at safe keep or they'll be using it to some unlawful activities. Will have this trouble might fall into us.

Yeah even regular casinos don't ask for your information aside from your payment details. I think i wouldn't mind if it's a legitimate registered casino. You can run after those types if your info gets leaked. For crypto casinos, nah. Too risky. I'm already risking my money playing. Doubling the risk wouldn't make sense. And there are a lot of crypto casinos to choose from anyway that doesn't require kyc.

[sandra_x]

One of the reasons I do use cryptocurrency (amongst others) is because of the anonymity it provides, that is easily lost when you associate any  of your bitcoin address to a kyc verified account, also KYC are a pain in the ass sometimes

[JohnBitCo]

if players wanted to make a KYC they would use the traditional online casino. if they choose bitcoin casino it means they don't want to make KYC and prefer to be anonymous.

People uses bitcoins and crypto to be able to remain hidden and anonymous, so why would they do the kyc which would reveal them to the casino owners and the public ( if the kyc information is leaked for the site intentionally or unintentionally).  Also people prefer online casino only to hide their identity and if they have to show themselves, they may prefer physical casino again.

[Darker45]

if players wanted to make a KYC they would use the traditional online casino. if they choose bitcoin casino it means they don't want to make KYC and prefer to be anonymous.

People uses bitcoins and crypto to be able to remain hidden and anonymous, so why would they do the kyc which would reveal them to the casino owners and the public ( if the kyc information is leaked for the site intentionally or unintentionally).  Also people prefer online casino only to hide their identity and if they have to show themselves, they may prefer physical casino again.

Exactly! A lot of people, especially those who are famous personalities, really want to play and have fun gambling in a phyiscal casino but to avoid being talked about, gossips, and insinuations, they prefer not to. And thanks to online casinos nowadays, they can still enjoy what they really want to do. And now the KYC? This is the very reason they get into online casinos in the first place.

[kennen1113]

Giving your personal information to a site which is not government regulated is dangerous because they can be hackers and they can do anything to your information. You can give your information if they are government regulated but since crypto isn't regulated at this moment, crypto gambling sites that requires KYC is a red flag for me.

Indeed, our information that provides gambling sites, it can be leaked by wise hackers, worse, when this information falls into the hands of the government, we will get a lot of trouble because first, the governments of the countries have very little support for crypto users, crypto really only creates trouble for the government when crime from this field is becoming very crowded. In addition, almost gambling is an act that the government prohibits, combining these two crimes, I don't think we can be comfortable when our information is known to the government.

[STT]

also KYC are a pain in the ass sometimes

To put it mildly yes, KYC can end up meaning leverage against the consumer without any real regulation or ability to appeal to fair appliance of the policy.    If it was applied in a balanced way perhaps but unfortunately it can also just be bullying with an excuse to hold onto funds endlessly.

[jademaxsuy]

also KYC are a pain in the ass sometimes

To put it mildly yes, KYC can end up meaning leverage against the consumer without any real regulation or ability to appeal to fair appliance of the policy.    If it was applied in a balanced way perhaps but unfortunately it can also just be bullying with an excuse to hold onto funds endlessly.

yes, ground for bullying and I never thought of this until you have stated it here. Anyway, whether with or without KYC if one really is open then it is not really that important. One can still cheat in KYC by using other profile and other credentials without the knowledge of one getting use to.

[Irvinn]

It seems to me that online casinos are not always required to provide passport data appropriate.  You still have such countries where such game resources are officially registered and they need to keep records of income and expenditure of funds.  And without registration of users - it is impossible to do.  But this is just my opinion.

[ethereumhunter]

It seems to me that online casinos are not always required to provide passport data appropriate.  You still have such countries where such game resources are officially registered and they need to keep records of income and expenditure of funds.  And without registration of users - it is impossible to do.  But this is just my opinion.

I think the gamblers can accept if the real casino needs their identity before they can play because I think the casino wants to know their player, their background, and else. They ask for the identity so if something bad happens to the gamblers, they can contact the other family members to help them to solve the problem. But if the online gambling needs KYC to their player, I think the gamblers won't give or don't like that because many gamblers don't like the KYC.

[BUK2016]

There are some company owners who's their identity is not known to their customers and the customers may equally want to know them too. Am say this because most KYC are always targeting customers forgetting that there are projects owners fail to make their identity unknown to their customers. As for me , KYC is fine and be encourage  but it should not be only for customers.

[xSkylarx]

I think kyc is important but the problem can cine from scam sites or sites who not have a good security and documents to be shared with 3rd parties, but if huge amount of money are put on a casino if they have a rule to ask kyc they will ask it.

Do you mean those high rollers? I doubt they will comply to submit their private info. It will put them at risks even if we say that website is well known. If you suspect he is a thief I don't think someone will just steal for the sake of gambling. That will be a different level of addiction.

[slaman29]

I think kyc is important but the problem can cine from scam sites or sites who not have a good security and documents to be shared with 3rd parties, but if huge amount of money are put on a casino if they have a rule to ask kyc they will ask it.

Why should it matter if a huge amount of money is put, or a small amount? You have to understand the whole concept of KYC is because of compliance with laws of anti money laundering and to prevent other sort of criminal activity like terrorist funding.

I saw a documentary once about how the bombs were funded in some parts of the world, tiny tiny amounts were sent from 100s of different sources, all flowing to the same organization. And this way they were not tracked because it was tiny amounts.

[Rufsilf]

I think kyc is important but the problem can cine from scam sites or sites who not have a good security and documents to be shared with 3rd parties, but if huge amount of money are put on a casino if they have a rule to ask kyc they will ask it.

Why should it matter if a huge amount of money is put, or a small amount? You have to understand the whole concept of KYC is because of compliance with laws of anti money laundering and to prevent other sort of criminal activity like terrorist funding.

I saw a documentary once about how the bombs were funded in some parts of the world, tiny tiny amounts were sent from 100s of different sources, all flowing to the same organization. And this way they were not tracked because it was tiny amounts.

Right, they normally do it in tiny amounts not to get attention from banks because if they do it in big amount surely they will be investigated. For me, KYC is good because it will serve as an added security not only for the players but for the owners as well.