Crypto-Casinos and KYC

[Silberman]

What if we reverse the situation?  The gambler will request KYC at a casino when they lose big?  Yes, they have control over our account, and they can do what they want and say that someone suspiciously created an account such as multiple accounts even though there isn't any, they also don't provide evidence on the allegations, and then they go in, they demand Identification.

It is difficult this is actually going to happen, I mean the player is the one that out of their own volition is playing at the casino and as long as the TOS was respected and the casino is probably fair then there is no reason the casino does this, is it unfair? In a way I think, but they are not forcing anyone to play at their casino so you are the one that needs to follow their rules and not the other way around.

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[just_Alice]

and maybe the positive side is that one day they will will get interesting offers from the gambling place which they can send to an email address or other.

this is true  .  
there are some sites that offers exclusive promotions but only to the costumer that have verified his account and verifying account can include a kyc  .

To send offers and bonuses they only need an email, so knowing the identity for such purposes is unnecessary. Why should the casino care who you really are, when instead they can judge you by your performance on the platform (e.g. how much money do you spend, how often do you gamble), that would be fair.

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media, or tell on you to your government where gambling might be illegal. KYC can be long and tedious, but IMO there's nothing so horrible about it, if you're not a well-known criminal, of course

[Text]

It is difficult this is actually going to happen, I mean the player is the one that out of their own volition is playing at the casino and as long as the TOS was respected and the casino is probably fair then there is no reason the casino does this, is it unfair? In a way I think, but they are not forcing anyone to play at their casino so you are the one that needs to follow their rules and not the other way around.

Yeah, that's why I avoid playing on casino sites where Identification or verification becomes mandatory before playing on their platform.  So as long as there are crypto gambling sites that do not require KYC, I will continue to play there.  Yes, I know that others can request KYC later if it is really necessary and I am aware of that ToS, I am ready to do it and follow what they ask me to do when I know it is in accordance.

[chaser15]

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

[harizen]

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

[sujonali1819]

I have 2 questions which I would like everyone to please answer and based on the answers can we can have a clear picture.


1- Would you gamble at a crypto-casino knowing it would ask you for KYC documents before withdrawal?

No, I would not to be interested to play any gambling site who could ask about KYC before making withdraw. Even I would not also be interested to do KYC in a new crypto exchange or anything else in crypto.

2-  Do you feel safe giving out your KYC to online crypto-casinos?

No, I don't feel it's safe. Personal Information is very important stuff in internet. If we don't make sure our own privacy in the internet maybe we could be faced some huge problem in life.

[Fortify]

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

I think that anonymity is one of the only benefits you could get from using a cryptocurrency gambling site, so if you don't have that then you might as well be gambling with fiat money. On that note, it works both ways - I am happy to gamble on a site that has built up a solid reputation with active support, regardless of where their operation is based, however I am definitely not comfortable handing over personal documents to such a company. Identity theft is a very real threat that can cause a lot of ruin and handing over such verification documents can lead to a whole load of problems for you in future if they leak out to the wrong people.

[john_nautica]

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

I think that anonymity is one of the only benefits you could get from using a cryptocurrency gambling site, so if you don't have that then you might as well be gambling with fiat money. On that note, it works both ways - I am happy to gamble on a site that has built up a solid reputation with active support, regardless of where their operation is based, however I am definitely not comfortable handing over personal documents to such a company. Identity theft is a very real threat that can cause a lot of ruin and handing over such verification documents can lead to a whole load of problems for you in future if they leak out to the wrong people.

I see where you are coming from and I totally agree with what you said. Although I would also play and provide a KYC if asked by a reputable company of a crypto-casino, it will never make me confident and secured that my information goes out there and is known by someone else with the risk of being leaked or used for ill faith purposes.

[just_Alice]

On the other hand, I don't understand why everyone is so angry about these verifications, it's not like the casino will expose your data to the media,

It's because it's not how crypto-gambling sites should be. It's totally different from other crypto platforms like crypto exchanges. Gamblers shift into crypto gambling because of the advantages of using crypto. Gambling sites should not be mandated just like the crypto exchanges.

KYC shouldn't be a necessary requirement when we want to play on crypto-gambling sites. Remember that there are lots of gambling sites and on average, we do gamble to at least more than 5 of them.

Will you comply with KYC at all sites you are using if they will ask you to do it even you are just a casual gambler or small bettor?

I don't think so, normally I'd also choose the option with no KYC verification, but in case you receive bounties and large bonuses from the casino, which helped you to gain a lot of profit - I think that's the action one should be willing to take, especially if this request was indicated in the ToS, that's all I'm saying.

[coupable]

I see where you are coming from and I totally agree with what you said. Although I would also play and provide a KYC if asked by a reputable company of a crypto-casino, it will never make me confident and secured that my information goes out there and is known by someone else with the risk of being leaked or used for ill faith purposes.

I would agree with you if you were about to choose which casino to use then chose the trusted one even you know will as for KYC. However, i would also think about the reason to use a casino working with crypto at first place. Crypto provides more anonymity that should be saved for some major reasons.
Even with the most secure compagnies, never be confident that your info won't be leacked for a reason or another .

[KTChampions]

I don't think so, normally I'd also choose the option with no KYC verification, but in case you receive bounties and large bonuses from the casino, which helped you to gain a lot of profit - I think that's the action one should be willing to take, especially if this request was indicated in the ToS, that's all I'm saying.

If the casino requires KYC in the event of a bonus being issued and in order to avoid multi-accounts, then this looks reasonable. But in fact, any casino bonus is issued with such strict conditions that it makes no difference if someone can use it several times. I am rather skeptical about "bonuses" from casinos.

[Renampun]

some gambling platforms often do KYC when they get users to withdraw the profits they get with very large amounts, this is done in my opinion because this gambling place wants to know who these people are and maybe the positive side is that one day they will will get interesting offers from the gambling place which they can send to an email address or other.

There are also many gambling sites that initially do not require KYC but when there are many users they change it to KYC...

the average gambling site or another service still asks for personal data and user addresses when they want to send gifts, this means that KYC at the beginning is completely useless. With the current high competition in the crypto casino gambling business, we as users can freely choose sites that require KYC or not. Don't be fooled by trapping promotions, which may require KYC upon withdrawal.

[mv1986]

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

I wonder how some exchanges or crypto casinos still manage to circumvent KYC and AML regulation. Those are not just some shitty platforms. Cloudbet doesn't ask for KYC and Binance. I guess those two are the biggest players in their respective industry. Wouldn't it be extremely easy for regulators to approach them? How is Binance still getting around KYC?

[Maslate]

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

I wonder how some exchanges or crypto casinos still manage to circumvent KYC and AML regulation. Those are not just some shitty platforms. Cloudbet doesn't ask for KYC and Binance. I guess those two are the biggest players in their respective industry. Wouldn't it be extremely easy for regulators to approach them? How is Binance still getting around KYC?

Regulators have different requirements based on where a certain company is registered, if the regulators are not so strict, then they might not require a KYC up to a certain amount, just like Binance, if you transact at a certain amount below the limit, there's no need for KYC, but if you go higher, you are required to submit for the KYC requirement, so we are given a choice.

I think most of the casinos don't require a KYC, and KYC has only become a requirement on a case-to-case basis.
We should read the TOS for easy understanding, let us not speculate.

[Text]

The exchanger system is different in the casino.  I understand better why KYC needs to be required especially with its P2P trading feature, the main reason is to prevent someone from being scammed.  And because they also have a side to being centralized they support bank transfers and other fiat e-wallets.  When you submit a KYC to them it means that you trust the company, we know that the company and their reputation are verified.  On gambling sites, I understand others so they don't want KYC because they want to hide because if online gambling is illegal in their country especially if they really want to play even though they know it's illegal so they make a way.

[mv1986]

What the other gamblers are worried is that they're expecting that even if they do not do anything, they'll be asked for a kyc.

I don't see any complaints yet where gambling site asked their users to comply with KYC even they don't do anything.

Usually, gambling sites asked KYC for the first time if they saw an account winning a big amount, violation of terms, bug abuse, promotional and events abuse, and many more. If the user is not doing anything related to those I have mentioned, I don't think KYC will be requested so no need to worry.

To prevent that, then play with the big sites instead that don't have an issue or terms about KYC.

I wonder how some exchanges or crypto casinos still manage to circumvent KYC and AML regulation. Those are not just some shitty platforms. Cloudbet doesn't ask for KYC and Binance. I guess those two are the biggest players in their respective industry. Wouldn't it be extremely easy for regulators to approach them? How is Binance still getting around KYC?

Regulators have different requirements based on where a certain company is registered, if the regulators are not so strict, then they might not require a KYC up to a certain amount, just like Binance, if you transact at a certain amount below the limit, there's no need for KYC, but if you go higher, you are required to submit for the KYC requirement, so we are given a choice.

I think most of the casinos don't require a KYC, and KYC has only become a requirement on a case-to-case basis.
We should read the TOS for easy understanding, let us not speculate.

Yes but when KYC and AML is meant to fight crime and get an overview about suspicious activities, check the limits on Binance. They are so high that you could easily money launder tremendous amounts. Same case for betting platforms. I can absolutely recommend to comply with the law, and that is what I do. But if you have criminal intentions it is still very easy to pull it off big time. You could just sign up several accounts with Binance and quickly have a limit over half a million USD, or just use several exchanges. From that perspective I could even understand regulators, but I am friend of crypto welcoming regulation that also makes it easy to use crypto while still being able to pay your proper taxes rather than build a massive surveillance apparatus.

The big guys do the surveillance on the small guys, but the small guys have no chance at all to see what's going in all the tax paradises. We can just be happy if journalism helps out like in the case of Panama Papers. Otherwise we wouldn't even have a glimpse of what's going on.

[Marvelman]

The big guys do the surveillance on the small guys, but the small guys have no chance at all to see what's going in all the tax paradises. We can just be happy if journalism helps out like in the case of Panama Papers. Otherwise we wouldn't even have a glimpse of what's going on.

It is well said and I agree with you. Small fish are easier to push around, while large sharks swim freely.

[tabas]

The exchanger system is different in the casino.  I understand better why KYC needs to be required especially with its P2P trading feature, the main reason is to prevent someone from being scammed.  And because they also have a side to being centralized they support bank transfers and other fiat e-wallets.  When you submit a KYC to them it means that you trust the company, we know that the company and their reputation are verified.  On gambling sites, I understand others so they don't want KYC because they want to hide because if online gambling is illegal in their country especially if they really want to play even though they know it's illegal so they make a way.

And it's not just about the reason to know if the player is playing on a country that has prohibited gambling and classified it as illegal.
But it's also that the gambler don't want to simply send his information to the casino, knowing that this guy is playing on their platform and has to send his identification to them.

[stadus]

The exchanger system is different in the casino.  I understand better why KYC needs to be required especially with its P2P trading feature, the main reason is to prevent someone from being scammed.  And because they also have a side to being centralized they support bank transfers and other fiat e-wallets.  When you submit a KYC to them it means that you trust the company, we know that the company and their reputation are verified.  On gambling sites, I understand others so they don't want KYC because they want to hide because if online gambling is illegal in their country especially if they really want to play even though they know it's illegal so they make a way.

And it's not just about the reason to know if the player is playing on a country that has prohibited gambling and classified it as illegal.
But it's also that the gambler don't want to simply send his information to the casino, knowing that this guy is playing on their platform and has to send his identification to them.

That's why we choose a crypto casino because we think we can play without submitting our personal information, if all the crypto casinos will require a KYC, then it's wiser to play with fiat casinos since they are more secured and most of them have operated for a long period of time already and their details are more transparent than a crypto casino.

[harizen]

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I don't think so, normally I'd also choose the option with no KYC verification, but in case you receive bounties and large bonuses from the casino, which helped you to gain a lot of profit - I think that's the action one should be willing to take, especially if this request was indicated in the ToS, that's all I'm saying.

Got the picture as even without reading the TOS of that bonus, it's expected that for every "BIG WINNINGS", there might be a possible request for a KYC verification. However, in most cases, even a user already complied with the KYC just to get those winnings, there's still a problem later on.

As for the post I have quoted from you "why people are angry or skeptical about these KYC" because the process will not end there. The site might probably tell that user of another violation of the terms and the next thing that will happen, you should already know.