What importance is kyc In gambling section

[iMark]

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.

Yeah, actually what is important for a house with your identity? they don't need anything that requires players to do KYC after all, many players gambled with crypto because of anonymous factors right? KYC will not be suitable to be applied in gambling sites, there is no importance at all

[carlfebz2]

I'm yet to do KYC on any gambling site, maybe you registered on a gambling site with very high restrictions.  I don't think the KYC aspect is relevant for gambling, what do they actually need it for? I won't give my details for JYC if any gambling site requests for it, it's that simple since it's optional.

Expect for these kind of instances where KYC can be possibly implemented out on certain gambling sites and most definitely on Fiat-based on line gambling sites but even on crypto based ones can still asked out some documentations basing on some certain conditions yet this had been always mentioned into their terms that anytime they would possibly ask those informations if they find out some shady stuff on you.

[LogitechMouse]

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.
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

I'm not a gambler but if you are only gambling online, I don't think that giving your personal information to people whom you don't know is the right choice. If the gambling site is regulated by the government then it is better at least because if there is something wrong in the site, the government can easily help you. In this case, we are in crypto world and I will assume that it is crypto gambling sites. I personally don't like crypto gambling sites that requires KYC.

[xSkylarx]

I'm yet to do KYC on any gambling site, maybe you registered on a gambling site with very high restrictions.  I don't think the KYC aspect is relevant for gambling, what do they actually need it for? I won't give my details for JYC if any gambling site requests for it, it's that simple since it's optional.

I can't imagine the greedy level of money laundering if there were no fear of KYC on big gambling sites. It doesn't matter why a customer wants to transfer funds unless the client can explain the source of funds. It will be easier to track the source of funds after exploring the identity of the gambler in my humble opinion.

But it is easy to falsify documents these days. If someone will actually put that money in gambling business, he would make sure that it won't fail. He will secure all possible loopholes. Unless thorough investigation will be done by the gambling owner, I doubt that he will be identified for what he did.

[robelneo]

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.
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

I'm not supportive of KYC but there have been so many occasions where the bettors made a lot of money from playing the games and since these gambling sites want compliant and transparency that they want to know who they are going to pay huge amount and wants to keep a record on who got a huge winnings in their platform, in case authorities check the record for compliance, that is what I understand.

[qwertyup23]

KYCs defeat the purpose of online gambling as it removes the anonymity aspect of betting. Supplementing your personal information renders a risk especially that gambling websites are prone to malicious hacks and scams.

In my opinion, the purpose of KYCs in gambling sites may protect the security of these websites especially that they have control as to whom is playing on their games. This may be an extra line of security provided in the website but with the expense of having fewer gamblers.

Overall, if the gambling website has a KYC function, it is best to avoid and look for another website that offers no KYC system at all for your security purpose.

[maydna]

I'm yet to do KYC on any gambling site, maybe you registered on a gambling site with very high restrictions.  I don't think the KYC aspect is relevant for gambling, what do they actually need it for? I won't give my details for JYC if any gambling site requests for it, it's that simple since it's optional.

I can't imagine the greedy level of money laundering if there were no fear of KYC on big gambling sites. It doesn't matter why a customer wants to transfer funds unless the client can explain the source of funds. It will be easier to track the source of funds after exploring the identity of the gambler in my humble opinion.

But it is easy to falsify documents these days. If someone will actually put that money in gambling business, he would make sure that it won't fail. He will secure all possible loopholes. Unless thorough investigation will be done by the gambling owner, I doubt that he will be identified for what he did.

I guess the gambling website will not do a thorough investigation for their customer because they only need the customer to give their document just in case if they will do investigate in the future especially if their customer breaks the law. If someone has already broken the law, for example, doing money laundering, but he wants to play gambling with that money, he can use the fake documents so he can avoid the investigation.

But I think that person will not use the gambling site which needs kyc and he will search another gambling website for gamble.

[Spaffin]

To really talk about KYC on certain sites, then you need to initially find out what motivates the administration to make such decisions.  In my opinion, gambling has nothing to do with money laundering, unless of course the administration itself is not an intruder.

[Moiyah]

I'm yet to do KYC on any gambling site, maybe you registered on a gambling site with very high restrictions.  I don't think the KYC aspect is relevant for gambling, what do they actually need it for? I won't give my details for JYC if any gambling site requests for it, it's that simple since it's optional.

Luckily, I also did not encountered yet a gambling site that requires KYC upon signing up or, before depositing and withdrawing the fund. However, maybe there are still gambling sites who just have a clean motives not like others may think. We have different opinions about the KYC thing but for me, as long as you can deposit and withdraw in a gambling site there's no issue about it

[XCANA]

Basically the importance of KYC in gambling platform's cannot be over emphasize since a company would like to know their customers while playing games on their platform's. But does that actually matters if you as a gambler you don't trust the platform's? Actually NO and if that Doesn't matters then your privacy matters because they can sell off your data to other parties.

[Nellayar]

The intention to use kyc is good. But still it's good characteristics does not apply for every situation. Like for example if the site was hacked. All your private infos are can also be valuable for the hackers. They can sell it on the black market or worse track you down and try to root on all your accounts. But I think casino doesn't need kyc for their respective clients. Just like a regular casino. They doesn't care who you are. They don't need to know who you are.

The example you gave is possible but there's less hacking incidents on gambling sites. If hackers target a gambling site they'll aim for the hot wallet rather than the information of the gamblers unless they're looking for someone.

If OP's "gambling section" is referring to the bitcoin casinos that accepts bitcoin and other cryptocurrency only then I agree it's not important but in some cases it could be reasonable for casinos.

It is good if KYC only applied when a user withdraw above 10BITCOINS. It is important in order to prevent illegality. But ordinary users who just withdraw below 1 bitcoin should be exempted.
By that, we can say that KYC will only work for preventing illegals and will not be used as a tool to imitate the identity of every user.

[Natalim]

Basically the importance of KYC in gambling platform's cannot be over emphasize since a company would like to know their customers while playing games on their platform's. But does that actually matters if you as a gambler you don't trust the platform's? Actually NO and if that Doesn't matters then your privacy matters because they can sell off your data to other parties.

Privacy matters for crypto gamblers that's why we choose to gamble here .
Things are simple, so we should make it simple, there are gambling sites who requires KYC and if we feel we can't trust them, we should look for a gambling site that does allow customers without KYC verification.

if I remembered correctly, one example is Edgeless, they are a license casino the token was hype before, but when they require KYC to gamble, they loss their popularity. I think that gambling that does not require KYC will be more successful in the crypto gambling world.

[BUK2016]

Basically the importance of KYC in gambling platform's cannot be over emphasize since a company would like to know their customers while playing games on their platform's. But does that actually matters if you as a gambler you don't trust the platform's? Actually NO and if that Doesn't matters then your privacy matters because they can sell off your data to other parties.

if I remembered correctly, one example is Edgeless, they are a license casino the token was hype before, but when they require KYC to gamble, they loss their popularity. I think that gambling that does not require KYC will be more successful in the crypto gambling world.

Gamblers are scared of giving out their information to third parties website because of the fear of selling the info to government or in the darkweb. Privacy is what I personally can't trade because its all I have to secure my future and my.present, so, wouldn't love any gambling platform's that accept KYC before gamble.

[tsaroz]

Basically the importance of KYC in gambling platform's cannot be over emphasize since a company would like to know their customers while playing games on their platform's. But does that actually matters if you as a gambler you don't trust the platform's? Actually NO and if that Doesn't matters then your privacy matters because they can sell off your data to other parties.

if I remembered correctly, one example is Edgeless, they are a license casino the token was hype before, but when they require KYC to gamble, they loss their popularity. I think that gambling that does not require KYC will be more successful in the crypto gambling world.

Gamblers are scared of giving out their information to third parties website because of the fear of selling the info to government or in the darkweb. Privacy is what I personally can't trade because its all I have to secure my future and my.present, so, wouldn't love any gambling platform's that accept KYC before gamble.

KYC is mainly focused on identifying the person if the authorities suspect them of money laundering. No gambling site would be willing to mess up with the CIA and KYC is shared with they if they found any large movement of money. For some gambling sites, it's also been a way to give large winners trouble withdrawing their money or even to scam such large winners. That's why more and more people are moving towards KYC free crypto casinos.

[ethereumhunter]

I believe you are in luck the site placed it in the beginning for you, because some of these gambling sites will only notify you of KYC when you have won a large sum of money and want to withdraw it. I believe such gambling sites are eager to keep tabs on who their customers are which can also result in some customers not feeling comfortable to use their site. It's a complicated situation but I personally like my anonymity.

It's better to see terms and conditions before playing on gambling sites. However, if you win a lot like that, nothing can be done other than giving personal data, it depends on someone's person if it's okay then just do it. But also for me anonymity is the most important thing when playing gambling.

It is a good idea to check the terms and conditions because we can see what the pros and cons and we can try to obey the rule. We can avoid what the don't so we don't have a problem in the future. If they still need kyc for their members, then we can skip registering on their website and we can search for the other gambling website. Yes, we need to stay anonymous when we connect to the internet especially in gambling because we don't want to see other people know what we did.

[jak3]

its completely understandable but everything is changing right now, we know that in this generation privacy is literally not a thing anymore. we can use exchanges even if they do not have KYC verification. but still, where ever money is stored we should do KYC as it will ensure the security by providing an extra security layer of user details so if someone is messing with the system we can easily spot them without going through a lot of tracing work. Btw it also involves data logging in it like when did you last logged in etc.

[JohnBitCo]

its completely understandable but everything is changing right now, we know that in this generation privacy is literally not a thing anymore. we can use exchanges even if they do not have KYC verification. but still, where ever money is stored we should do KYC as it will ensure the security by providing an extra security layer of user details so if someone is messing with the system we can easily spot them without going through a lot of tracing work. Btw it also involves data logging in it like when did you last logged in etc.

There are lot of benefits of kyc which cannot be denied but the one disadvantage of KYC of leaking and misusing of the confidential data is way too big which make us think before we do kyc.  Gambling can be done without KYC so people do not want to risk their information and identitty disclosure.

[kingpin4321]

I don't want to visit a gambling site that required KYC verification

Would love to know your reasons for this I have some reasons why you don't want to check out gambling site but still need to be clear from you.
Know your customer is not that bad as its been spread

[Soots]

It provides legitimate information to gambling site profile that you had registered with them. But some gamblers didn't want this to be part of their additional task. They felt unsecured compared to the usual freedom of being an anonymous gambler, and now whole thing about the identity will be totally transparent. This implementation was now a mandatory requirements for those who follow the right protocol, and I think it became so important due as part of government regulations.

[MonsterV]

its completely understandable but everything is changing right now, we know that in this generation privacy is literally not a thing anymore. we can use exchanges even if they do not have KYC verification. but still, where ever money is stored we should do KYC as it will ensure the security by providing an extra security layer of user details so if someone is messing with the system we can easily spot them without going through a lot of tracing work. Btw it also involves data logging in it like when did you last logged in etc.

One of the biggest advantages of KYC is in terms of the security of our assets, but we also cannot rule out our data security. I think KYC is still in gray thinking, so I can't give more opinions about this.

And I think the OP is feeling annoyed because it can't play gambling because it's limited by KYC. I think this kind of policy on the platform that publishes KYC must be removed and replaced by doing KYC when you want to withdraw funds or be given a limit on withdrawing funds to do KYC.