What importance is kyc In gambling section

[GregH37]

People had conflicting views about KYC on gambling sites, but for me, it's better  they asked KYC if the winning is above the threshold to withdraw justliek they do in exchange, if the winning is only $100 to $500 then it is ok not to ask for KYC, bit if it is above $3000 then they can ask players to do KYC.

Can you give me one good reason why you feel KYC is required for money above 3000$ ? Because for me, I think its not necessary at all regardless of the amount in question since gamblers enjoys their privacy. If a casino site deems it necessary to ask KYC from gamblers who win huge amount of money, then it should be made compulsory for everyone because as far as I am concerned KYC is KYC

If I won a huge money on a site and it starts asking me to fill kyc before withdrawing, I would angrily leave that site with the money, but I can bet that the damage I would make to the reputation of such site would be worse than the money they hold behind.

[Vaculin]

I know that it is important to know our customers, even in casinos, it is better if you are the owner and you know your customers, that will get you more since you are nice to them. But in online gambling, I don't think we should be needing one. I mean one of the reasons why people are using these crypto currencies are to keep their identities from being known, they want to be anonymous. I know that there are reasons for these but I will go with a gambling site without KYC since I want to gamble anonymously, it is the reason I want to use crypto currency.

I agree. The reason why i love to gamble using cryptocurrency is its idea of being anonymous from your co-players especially in online gambling. I understand that KYC is just for security measures but i still think that this procedure is not really essential as it gives more hassles on the part of the gamblers.

[jhongzjhong]

I know that it is important to know our customers, even in casinos, it is better if you are the owner and you know your customers, that will get you more since you are nice to them. But in online gambling, I don't think we should be needing one. I mean one of the reasons why people are using these crypto currencies are to keep their identities from being known, they want to be anonymous. I know that there are reasons for these but I will go with a gambling site without KYC since I want to gamble anonymously, it is the reason I want to use crypto currency.

I agree. The reason why i love to gamble using cryptocurrency is its idea of being anonymous from your co-players especially in online gambling. I understand that KYC is just for security measures but i still think that this procedure is not really essential as it gives more hassles on the part of the gamblers.

No, KYC is not necessarily on gambling because that is not involved in money laundering related case just like investing in ICO's project that it should have been passed with KYC. Correct, being anonymous in gambling without knowing with someone else and hide your real identity is a good idea. Just like me, actually, gambling is prohibited in our religious group but I can still do it on the internet and they even know.

[davinchi]

KYC regulation has nothing to do with checking for fake accounts. The main reason is to control money laundering and fraudulent activities and moreover I don’t think there is an exemption for anyone, there is nothing like checking if you are regular or not a regular player, a site that needs KYC info would do that to all their players, I think it’s important for us to get that straight and right.

I think the only times there are exemptions are for sites that do not ask for KYC on their daily basis, only when a player has a huge win and they probably do this for both the security of the play and the website, and it’s always understandable in such cases.

I beg to disagree make, if you say the essence of KYC is to control fraud then you should agree that it’s a way to check fake accounts and fake account holders are mostly people who create account strictly for that purpose. Majority  of them do not gamble regularly, so it is possible they do it when it is time to carry out the act of fraud and then they will claim the money was gotten from gambling.

KYC the site have the database of all its players and especially the record of those who have won big amounts from the casino site for reference purposes. So if you a player has a clear conscience, they would see nothing wrong with KYC.

[omonuyak]

Since kyc is the only way gambling sites can know their customers, I did not see anything wrong with that. You have to know the identity of the people you are dealing with in other to take necessary steps incase those people behave dubiously.

[AjithBtc]

Since kyc is the only way gambling sites can know their customers, I did not see anything wrong with that. You have to know the identity of the people you are dealing with in other to take necessary steps incase those people behave dubiously.

I don't find anything specific for KYC, and I don't know knowing your customer and being dubious has some relation. It is completely contradicting, and particularly when you gamble you are just spending on and if won you get credited with the winning. What's there to be doubtful on the winning and settlement to the respective wallet from which amount has been spend. If something is doubtful then its the failure of the website and there isn't any need for KYC with gambling.

[hahay]

Since kyc is the only way gambling sites can know their customers, I did not see anything wrong with that. You have to know the identity of the people you are dealing with in other to take necessary steps incase those people behave dubiously.

I don't find anything specific for KYC, and I don't know knowing your customer and being dubious has some relation. It is completely contradicting, and particularly when you gamble you are just spending on and if won you get credited with the winning. What's there to be doubtful on the winning and settlement to the respective wallet from which amount has been spend. If something is doubtful then its the failure of the website and there isn't any need for KYC with gambling.

Like what online gambling players behave dubiously, I think every gambling site has its own security system if something is suspicious maybe their system will automatically work. KYC at gambling is not really needed and every player must have their own privacy and have a reason to play gambling online, if they only play to spend free time whether it becomes a suspicion and I don't think so, because online gambling is a freedom for most of their governments prohibit gambling.

[noormcs5]

In my opinion kyc is not a problem if you are warned about the website kyc policy when you are creating your account.

The worst thing is to have a kyc surprise when trying to withdrawal your funds.

If the Gambling site requires KYC, it should state it at the time of registration. Those sites which do not enforce KYC while registering , deposits and playing on the site but requires KYC before withdraw are more likely to do scam and you should avoid such sites.
KYC is good if you want to track the players in case they try to fraud or try to break any rule etc.

[Stedsm]

Know your customer (kyc) is one security measure I support and do not hesitate to fill-in all my kyc required details. KYc is being used by exchanges, ico project some bounty managers etc.

We all know that KYC is a security measure, but there also stands the risk of getting our documents compromised if the end party (ICO, Exchanges, Airdrops and Bounties, etc.) has got something fishy in their mind to do with them. I'm not blaming that all are bad, but trying to get a trustworthy one is like finding a diamond in the crowd of charcoal, especially if you're going to give them to an ICO company to make some extra bucks by joining their airdrops / bounties. For those free coins (that are just speculated to be having a value they promise while asking you to register and do a KYC as such coins are yet to come over an exchange), we should understand that we're giving our precious details which one shouldn't even send to anyone accidentally due to the fact that such confidential information can be misused to any extent and behind our back.

But is kyc really needed in gambling section. I experienced a very hectic kyc procedure when trying to register onto a gambling site with them telling me they would get back to me after some day so I wonder what if I got a pressing game I needed to play immediately.
In my own opinion kyc is not of major importance in gambling section. What do you guys think

If KYC becomes mandatory in gambling, I guess I'd stop doing it as what's the privacy about if we're to be asked to share our details even with a gambling site where we wanted to stay anonymous?

Would you mind sharing that gambling site's name here just so that we see and learn what are such procedures being carried for?

P.S.: KYC may be asked by some of the reputed sites just in case they doubt it's not you and someone else trying to redeem money from your account. In cases where the withdrawal amounts are higher and as there are withdrawal limits (some have daily and others got monthly), there may occur a need for you to provide some proof in the end to get your money withdrawn.

[Oilacris]

In my opinion kyc is not a problem if you are warned about the website kyc policy when you are creating your account.

The worst thing is to have a kyc surprise when trying to withdrawal your funds.

If the Gambling site requires KYC, it should state it at the time of registration. Those sites which do not enforce KYC while registering , deposits and playing on the site but requires KYC before withdraw are more likely to do scam and you should avoid such sites.
KYC is good if you want to track the players in case they try to fraud or try to break any rule etc.

Usually these kyc process do happens only when theres a player who do have possible fraudulent activity and this is the only time I do see

valid for these gambling sites to ask such verification but talking before registering or before making withdrawals then this site is shady.

[nofreecoins]

First of all KYC perhaps should go for both parties in some way.
Second, KYC is essential in a way to prevent or perhaps more important act against scamming yet again innocent users should be able to preserve their privacy, the privacy of their funds and their doings which such methods can complicate at times, most of the ICO KYC requests end up sold in darker markets than we know.

So most of my worries about KYC are about privacy loss on people that deserve or need it. I has no support towards specific opressor behaviour such as the one usualy excercised by governmets or unlogical organizations.

[fullhdpixel]

People had conflicting views about KYC on gambling sites, but for me, it's better  they asked KYC if the winning is above the threshold to withdraw justliek they do in exchange, if the winning is only $100 to $500 then it is ok not to ask for KYC, bit if it is above $3000 then they can ask players to do KYC.

Can you give me one good reason why you feel KYC is required for money above 3000$ ? Because for me, I think its not necessary at all regardless of the amount in question since gamblers enjoys their privacy. If a casino site deems it necessary to ask KYC from gamblers who win huge amount of money, then it should be made compulsory for everyone because as far as I am concerned KYC is KYC

If I won a huge money on a site and it starts asking me to fill kyc before withdrawing, I would angrily leave that site with the money, but I can bet that the damage I would make to the reputation of such site would be worse than the money they hold behind.

Let me give a short illustration, if as a business owner you do a carry out Giveaways as a way of promoting your business? Don’t you think it will be necessary to have the information of the winners of those giveaways? This will be the proof you can also have to tell others of your genuine. That is the same thing with KYC for big winners in gambling.

I think this is the same thing with gambling, the industry will need the information of the winner since most people don’t believe that its possible to win big, the information might not be displayed but its safe with the site .Its not a bad thing to fill KYC anyway, just few questions asked.

[Rufsilf]

I know that it is important to know our customers, even in casinos, it is better if you are the owner and you know your customers, that will get you more since you are nice to them. But in online gambling, I don't think we should be needing one. I mean one of the reasons why people are using these crypto currencies are to keep their identities from being known, they want to be anonymous. I know that there are reasons for these but I will go with a gambling site without KYC since I want to gamble anonymously, it is the reason I want to use crypto currency.

I agree. The reason why i love to gamble using cryptocurrency is its idea of being anonymous from your co-players especially in online gambling. I understand that KYC is just for security measures but i still think that this procedure is not really essential as it gives more hassles on the part of the gamblers.

Right, being anonymous is the main reason why gamblers use cryptocurrency, they take care of their personal that much that they become skeptical when a site is asking KYC, also aside from that, KYC tends to become more complicated at times and it may ask you to send it over and over, for me, I don't really like KYC because it ask personal information and it isn't that friendly.

[Viscore]

I know that it is important to know our customers, even in casinos, it is better if you are the owner and you know your customers, that will get you more since you are nice to them. But in online gambling, I don't think we should be needing one. I mean one of the reasons why people are using these crypto currencies are to keep their identities from being known, they want to be anonymous. I know that there are reasons for these but I will go with a gambling site without KYC since I want to gamble anonymously, it is the reason I want to use crypto currency.

I agree. The reason why i love to gamble using cryptocurrency is its idea of being anonymous from your co-players especially in online gambling. I understand that KYC is just for security measures but i still think that this procedure is not really essential as it gives more hassles on the part of the gamblers.

Right, being anonymous is the main reason why gamblers use cryptocurrency, they take care of their personal that much that they become skeptical when a site is asking KYC, also aside from that, KYC tends to become more complicated at times and it may ask you to send it over and over, for me, I don't really like KYC because it ask personal information and it isn't that friendly.

Having KYC is good because it tends to protect us more and make us safe and secured. But KYC in gambling makes me really think not that important because having to submit our personal details does give us hassle and the fact that we are doing it again and again makes us think not to gamble with that site.

[Finestream]

This is very important to those huge amount deposited of gamblers, and I think transparency is the main reason of gambling site developers. This should be implemented as part of the worldwide regular for cryptocurrency Gambling. Maybe it's hassle for other people but this has been having potential great results as long as every people will cooperate.

When it comes to huge amount of deposits,i really support to have KYC for that.I still believe that it can be very helpful to maintain security measures on our part and on the site alone.Although we find it hassle most of the time,but it's an advantage for us  gamblers to be more confident gambling with that certain site.

[xSkylarx]

I don't think that's neccessary in gambling. There are already kyc free gambling websites out there and they are already operating for many years. If a kyc required gambling business would be built in the future I doubt it will become popular and will earn huge profit.

[bones261]

Well, if a gambling site requires KYC info, I am probably not going to play. I live in the US and AFAIK, the US does not consider it legal to offer gambling online to its citizens, unless the are abroad. also, in the US, brick and mortar casinos are required to gather KYC info for AML purposes if someone tries to cash out 10000 USD or above, in one day. It has been a while since I last cashed out so much; but I recall them asking for my ID; they recorded the transaction and my identifying information  in a log; and I believe that I had to sign for it.

[Dreamchaser21]

I don't think that's neccessary in gambling. There are already kyc free gambling websites out there and they are already operating for many years. If a kyc required gambling business would be built in the future I doubt it will become popular and will earn huge profit.

Yeah, there are so many good options for us not to fill-up the KYC and they don't need it because we are just playing for fun and we are playing on their site because we don't want to give our personal details. If KYC is being asked for a new gambling site then for sure they will not succeed and they will not last in the market, gamblers don't prefer to play on that kind of gambling.

[btc78]

In my own opinion kyc is not of major importance in gambling section. What do you guys think

You got this right mate because there’s a lot of issues from the winners in some Gambling sites that KYF has been used to hold their money .cases that at first players has no idea until they become a winner and was asked to present this KyC thing to claim their winnings

[emberbekas]

In my own opinion kyc is not of major importance in gambling section. What do you guys think

You got this right mate because there’s a lot of issues from the winners in some Gambling sites that KYF has been used to hold their money .cases that at first players has no idea until they become a winner and was asked to present this KyC thing to claim their winnings

AFAIK, users who are asked to send their data to be able to withdraw their money from gambling sites are because admins detected inappropriate behavior carried out by the users. Whether it's alleged for cheating the game or alleged for money laundering business, for example. Btw, as long as we gamble on gambling sites that can be trusted and they don't apply KYC as the requirement for all members, we don't need to worry even though we win a lot.