Reasons Crypto Players Skip Casinos with KYC

[exbet.io]

I hate KYC myself. I think it is best for casinos to put a certain limit. It doesn't have to be everyone. They could set like $10,000 above who will undergo KYC process. Those who are playing with a hundred USD could do away with it. 

Yes, we believe that's how it should be used - no KYC required for lower, 'recreational' stakes. But KYC for large amounts where the possibility of money laundering becomes relevant. This system is what we will be implementing when we launch exbet.io later in 2019.

[swogerino]

I think your number one reason is the main thing why people associate those who want privacy with those who want to hide things.

Anonymity is not necessarily the reason we skip crypto casinos with KYC. I do not mind so much for people to know who I am, what I do mind is that they can keep my personal data, my photograph, my ID, etc,,, this is my privacy protection, not so much anonymity. Am I right?

Absolutely right.We don't care much if verification is needed we provide the necessary information but how do we know that the information we provide is not misused by the casino?There is no real way to know this and thus many many gamblers are more likely to be in favour of no KYC policy crypto casinos.

[ethereumhunter]

I hate KYC myself. I think it is best for casinos to put a certain limit. It doesn't have to be everyone. They could set like $10,000 above who will undergo KYC process. Those who are playing with a hundred USD could do away with it. 

Yes, we believe that's how it should be used - no KYC required for lower, 'recreational' stakes. But KYC for large amounts where the possibility of money laundering becomes relevant. This system is what we will be implementing when we launch exbet.io later in 2019.

But I think if you want to use KYC, it should apply for the gamblers who will be using a big money to playing gambling. I am sure that you can see it in the each member's history so you can send them an email or message telling them about completing the KYC. But for gamblers who will not use a big money, then they don't have to complete the KYC because they only use small money to gamble and who knows, they are gamble for just fun. I think that will prevent the money laundering that you worried and the gamblers will be carefully to use a big money to gamble. That is the only suggestion for you.

[jakoylantern]

I think your number one reason is the main thing why people associate those who want privacy with those who want to hide things.

Anonymity is not necessarily the reason we skip crypto casinos with KYC. I do not mind so much for people to know who I am, what I do mind is that they can keep my personal data, my photograph, my ID, etc,,, this is my privacy protection, not so much anonymity. Am I right?

Yes, I agree what you said the main reason why most people skip casinos with KYC because they have your data, that they can use without any advisory to you and if you are a very protective person giving your personal information is not your type especially if an anonymous person can have it. Also, I'm sure you will not enter this kind of casinos. 

[lighpulsar07]

Nice Infographic OP kudos for effort taking your time making this...

the reason players skipping KYC in casinos is

1. your identity is compromised - all websites are prone from hacking so, if the hacker obtains your personal information, they hack your bank information or they can be use you identity to scam someone else.

2. Too much work - well doing KYC is too much work since some casinos requiring too many documentsin order to withdraw plus the waiting time you have to wait for 3 days - 7 days to get your verification done.

[Best Dreams]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

After for investing your money in crypto it’s easy to share your KYC but don’t expect more than this. In casinos if they are asking for the KYC people most of the Time get afraid of sharing their KYC because of high security issues so if the casino takes responsibility of future misshapes then it’s ok to provide your KYC.

[joshy23]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

After for investing your money in crypto it’s easy to share your KYC but don’t expect more than this. In casinos if they are asking for the KYC people most of the Time get afraid of sharing their KYC because of high security issues so if the casino takes responsibility of future misshapes then it’s ok to provide your KYC.

Gamblers who wanted to keep their identity being private would not process the KYC requirement they will avoid house that will ask for this and move to another site where they can enjoy playing without staking their personal information, crypto casino provide this service the very reason why more gamblers are switching to this industry, but we are now seeing site from crypto casino who also requiring KYC.

[peter0425]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

After for investing your money in crypto it’s easy to share your KYC but don’t expect more than this. In casinos if they are asking for the KYC people most of the Time get afraid of sharing their KYC because of high security issues so if the casino takes responsibility of future misshapes then it’s ok to provide your KYC.

It’s really hard to entrust our personal details via internet and most specially in gambling sites becaue we already knew how fishy they are and most are not reliable at all
And I rather not play in gambling sites that ask KYC than those who ask
And besides why would people need to give them our details when all we wanna do is enjoy?

[XCANA]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

You have just spoken my mind. It should be investors who are suppose to ask for KYC and not the gamblers because, we all know that the government of every individuals have a reserve tolerance for gamblers which some have a penalty if caught in the act or if reveal through the process of doing KYC. More reasons why I jumped online casinos with KYC is because of my government restrictions on gambling, am afraid of my data be sold out.

[hahay]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

You have just spoken my mind. It should be investors who are suppose to ask for KYC and not the gamblers because, we all know that the government of every individuals have a reserve tolerance for gamblers which some have a penalty if caught in the act or if reveal through the process of doing KYC. More reasons why I jumped online casinos with KYC is because of my government restrictions on gambling, am afraid of my data be sold out.

That's for sure, online gambling using crypto is an alternative for those of us who want to remain anonymous because a government regulation in each country is different about gambling. So, it seems impossible for the gambling industry to implement KYC as a whole, because every player has their own privacy which of course the developer will not take the risk for online gamblers.

[maydna]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

You have just spoken my mind. It should be investors who are suppose to ask for KYC and not the gamblers because, we all know that the government of every individuals have a reserve tolerance for gamblers which some have a penalty if caught in the act or if reveal through the process of doing KYC. More reasons why I jumped online casinos with KYC is because of my government restrictions on gambling, am afraid of my data be sold out.

Besides of the investors, the company who is running the business will need to do KYC so they can be a legit program's investment.

That will be different if we use the local casino to gamble and perhaps we need to show our ID before we enter to the places. But I guess that we don't have to fill the KYC to get in the local casino. As long as we are adult people, I think the casino will be no problem with us because we want to play gambling in their place.

Many of us are afraid about selling the data to the other party because with those data, and they can use it for anything they want. That is the reason for most gamblers to avoid the KYC process in online gambling or another website.

[shoreno]

There are no advantages when doing KYC in the game.

there is  . when you do a kyc your account becomes free from restriction versus to an account that did not do a kyc because thier accounts are only limited . they cant deposit or withdrew big amounts of cryptos and other features of the game are also hidden for non verified/partial verified users   .

 kyc makes you confident and being confident can improve your game play which can result for you to win  .  i already do a kyc on one gambling site that i use , you guys should too

[exbet.io]

Yes, we believe that's how it should be used - no KYC required for lower, 'recreational' stakes. But KYC for large amounts where the possibility of money laundering becomes relevant. This system is what we will be implementing when we launch exbet.io later in 2019.

But I think if you want to use KYC, it should apply for the gamblers who will be using a big money to playing gambling. I am sure that you can see it in the each member's history so you can send them an email or message telling them about completing the KYC. But for gamblers who will not use a big money, then they don't have to complete the KYC because they only use small money to gamble and who knows, they are gamble for just fun. I think that will prevent the money laundering that you worried and the gamblers will be carefully to use a big money to gamble. That is the only suggestion for you.

Right, that is exactly how we believe it should work:
1. No KYC *ever* for smaller stakes punters
2. KYC only for those who want to deposit large amounts

That way, you keep it simple and fun for 99% of people.

[LogitechMouse]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

Those gamblers doesn't have an advantage when the do KYC but the owner of the site does have. What if they will use your personal information in bad things like selling it. You can do KYC only if the site requires it and most of the times, they always state in the TOS when you need to do KYC.

[witcher_sense]

Those gamblers doesn't have an advantage when the do KYC but the owner of the site does have. What if they will use your personal information in bad things like selling it. You can do KYC only if the site requires it and most of the times, they always state in the TOS when you need to do KYC.

Honestly, I doubt if the owner of the gambling site will sell your personal data for additional income. The income from such a sale is tiny, compared to the commission that the gambler will give him simply by spinning slots in his casino. A bad reputation in exchange for a couple of bucks is a worthless bargain.

[exbet.io]

Those gamblers doesn't have an advantage when the do KYC but the owner of the site does have. What if they will use your personal information in bad things like selling it. You can do KYC only if the site requires it and most of the times, they always state in the TOS when you need to do KYC.

Honestly, I doubt if the owner of the gambling site will sell your personal data for additional income. The income from such a sale is tiny, compared to the commission that the gambler will give him simply by spinning slots in his casino. A bad reputation in exchange for a couple of bucks is a worthless bargain.

Totally agree with witcher. Building up a userbase with a functioning betting product just  to sell user details is not a business plan, it's stupid. However, to quote Zappa:

“Some scientists claim that hydrogen, because it is so plentiful, is the basic building block of the universe. I dispute that. I say there is more stupidity than hydrogen, and that is the basic building block of the universe.”

So people will do it *because* it's stupid.
They might also do it if their business is dead and they have nothing more to lose.

At the same time, *some* level of KYC is just a necessary part of AML for any regulated organization, and AML is a good thing.

[boyptc]

Those gamblers doesn't have an advantage when the do KYC but the owner of the site does have. What if they will use your personal information in bad things like selling it. You can do KYC only if the site requires it and most of the times, they always state in the TOS when you need to do KYC.

It's their option to do so before complying with KYC of any casino.

Be sure that you really trust that casino and even your information if you are required to comply. Most of us have issues with KYC because of those underground selling of information which isn't a secret anymore.

[posi]

There are no advantages when doing KYC in the game. Everything went as usual, just a condition. Therefore many gambling players will not do it. Because gambling doesn't need KYC, it's different if we are investors.

You have just spoken my mind. It should be investors who are suppose to ask for KYC and not the gamblers because, we all know that the government of every individuals have a reserve tolerance for gamblers which some have a penalty if caught in the act or if reveal through the process of doing KYC. More reasons why I jumped online casinos with KYC is because of my government restrictions on gambling, am afraid of my data be sold out.

That's for sure, online gambling using crypto is an alternative for those of us who want to remain anonymous because a government regulation in each country is different about gambling. So, it seems impossible for the gambling industry to implement KYC as a whole, because every player has their own privacy which of course the developer will not take the risk for online gamblers.

I understand your point guys and I want you to understand that I don't support the KYC aspect of casinos but we also can't blame casinos which implemented the KYC system because of some crypto anonymity abuser are the causes of it. I mean crypto theft creating an account on casino deposit fund which was stolen and later withdraw it to another address in other to cover their track.

[nakamura12]

It is correct that it is the reason why crypto players skip casinos that has KYC implemented in it. If they are in a country where it is not legalized gambling then they can't play in that site. If the site is compromised then their personal data might be compromised or get stolen.

[Best Dreams]

Those gamblers doesn't have an advantage when the do KYC but the owner of the site does have. What if they will use your personal information in bad things like selling it. You can do KYC only if the site requires it and most of the times, they always state in the TOS when you need to do KYC.

Honestly, I doubt if the owner of the gambling site will sell your personal data for additional income. The income from such a sale is tiny, compared to the commission that the gambler will give him simply by spinning slots in his casino. A bad reputation in exchange for a couple of bucks is a worthless bargain.

Yes they can harm your personal data id you will share your KYC with them that why most of gamblers don't share their KYC. But I think there is no issue to share your KYC I don't think that any web site would do this illegal act. When I saw any good casino that give me good offers so I never reject