Crypto-Casinos and KYC

[BitcoinHunt3r]

maybe for some time in the future we're going to see that majority of the casinos will be asking for a KYC. But for the meantime, I don't want to think about it as long as how crypto works and keeping the identity of the owners privately, that should how it works.

We are talking about crypto casinos, I don't think even in the future it should ask for KYC. In the crypto world, we must respect the privacy of everyone and make it easier to do. So, what for asking KYC for the users? If the users win prizes in gambling, it can be delivered to the users' accounts on the casinos. It is not a complicated thing, which means no need for KYC to validate the data.  

That's right and you have a point here.
But if you will look into a different corner, a gambling site without having KYC to the users will be I guess becomes abuse by the money laundering process because there is a potential after scamming for the people they will use this out of the gambling and withdraw for nothing left online gambling casino and for the this should be convincible of pushing the KYC/AML verifications.

There's nothing we can do about the KTC thing, I guess this will also be required for those gambling sites that follow government law.

Well that's one of the reasons why KYC is needed to prevent and minimize crime especially money laundering. Casino sites certainly don't want that but the rules and laws that make them do it, they can't do anything because they have no other choice. I will play on a casino site that doesn't ask for KYC, there are still many choices.

[Silberman]

This is true.The government want to control us to the maximum extent possible.In fiat casinos in almost 100% of the cases you have to pass KYC in order to be approved to play there.So far crypto casinos do not force you into this for small amounts,usually up to 0.01 Bitcoin which is better compared to fiat casinos.I don't think this will change anytime soon so crypto casinos are the way to go.

Only about to happen if you've done somewhat against to their TOS. But if you're clean and you know it, you'll be far to being asked for a KYC. There are gamblers that are from fiat casinos would agree to that, that the crypto casino are way better secure and good in keeping privacy.

Even if you do nothing wrong you can be the subject of KYC verification, one common example is that if you happen to earn a significant amount of money most likely you are going to be hit by a KYC request in order to be able to withdraw your coins, however in this case I do not consider this to be wrong as casinos need to protect themselves from fraud and if the amount is significant it is natural they have their reservations about paying up.

[KTChampions]

I think the key point here is not legality or illegality, but that legality implies taxes and other extortions. I think most of the people who came to the crypto wanted to be away from government regulation and, accordingly, from taxes / licensing, etc. In fact, all legal casinos are deprived of the advantages that crypto gives us.

I do not really understand gambling taxation but I think that both crypto and fiat gambling industry can be taxed, it is just like saying exchanges can not be taxed, crypto casinos will be registered in a country, they will have a license to run as a crypto gambling online platform, if the tax is mandatory, it will be taken. There are some countries that will even tax winners, but I have used crypto and fiat gambling sites like casino before in which no tax were collected from winners from their winnings, only the gambling sites will have to pay their tax, and this is not difficult for government to make it mandatory for any crypto gambling site operating in their country.

In most countries, the player who wins at the casino must pay tax. If you did not do this, then most likely you broke the law (you should have declared this income). Taking into account the fact that winning at a casino is quite rare and taking into account the fact that a player always loses at a distance, the tax on winnings looks like a robbery.

[tabas]

This is true.The government want to control us to the maximum extent possible.In fiat casinos in almost 100% of the cases you have to pass KYC in order to be approved to play there.So far crypto casinos do not force you into this for small amounts,usually up to 0.01 Bitcoin which is better compared to fiat casinos.I don't think this will change anytime soon so crypto casinos are the way to go.

Only about to happen if you've done somewhat against to their TOS. But if you're clean and you know it, you'll be far to being asked for a KYC. There are gamblers that are from fiat casinos would agree to that, that the crypto casino are way better secure and good in keeping privacy.

Even if you do nothing wrong you can be the subject of KYC verification, one common example is that if you happen to earn a significant amount of money most likely you are going to be hit by a KYC request in order to be able to withdraw your coins, however in this case I do not consider this to be wrong as casinos need to protect themselves from fraud and if the amount is significant it is natural they have their reservations about paying up.

That will only happen if your wins are subjective and questionable but if you've got clean wins then you won't be questioned and won't be asked for a KYC.
The casinos have their choice to verify the winner if it's quite high for them and they really have to check it. There's nothing wrong with it if you're subject to it as long as it's a clean win and you didn't do anything wrong.

[dunfida]

This is true.The government want to control us to the maximum extent possible.In fiat casinos in almost 100% of the cases you have to pass KYC in order to be approved to play there.So far crypto casinos do not force you into this for small amounts,usually up to 0.01 Bitcoin which is better compared to fiat casinos.I don't think this will change anytime soon so crypto casinos are the way to go.

Only about to happen if you've done somewhat against to their TOS. But if you're clean and you know it, you'll be far to being asked for a KYC. There are gamblers that are from fiat casinos would agree to that, that the crypto casino are way better secure and good in keeping privacy.

Even if you do nothing wrong you can be the subject of KYC verification, one common example is that if you happen to earn a significant amount of money most likely you are going to be hit by a KYC request in order to be able to withdraw your coins, however in this case I do not consider this to be wrong as casinos need to protect themselves from fraud and if the amount is significant it is natural they have their reservations about paying up.

That will only happen if your wins are subjective and questionable but if you've got clean wins then you won't be questioned and won't be asked for a KYC.
The casinos have their choice to verify the winner if it's quite high for them and they really have to check it. There's nothing wrong with it if you're subject to it as long as it's a clean win and you didn't do anything wrong.

Yeah, and its impossible for someone not to take those things being required specially if we do talk about big winnings on here.For sure they would comply without any doubt unless if those wins do really came on shady act.

Most of casinos here on crypto market is regulated where you can really expect that they can ask out KYC anytime if there's something wrong towards your activity which we shouldnt really ignore
and its been stated always into their ToS.

There's indeed nothing to worry about if you have done nothing.

[Saint-loup]

Please furthermore about How and what are scamming happening when a casino Site is Asking your KYC? How can they  scam you if you are not a willing victim?

Scammers will contact you first and will do necessary strategy to take your funds and if you know how to handle them then there is no chance of you being scammed .

That's my 2 cents on this though I am also not a fan of KYC because i want my privacy remains .

What do you call a willing victim please? How a victim could will to get scammed by somebody? I don't understand. You should pay more attention to the words you are using here, because one can think you are defending scammers and laughing at the victims.
It's very easy to scam people with a mandatory KYC. The scammers just need to ask more documents till the victim is not able to provide them. Or just to reject the documents sent by the victim by saying they are not valid or they are fake.

[ethereumhunter]

Even if you do nothing wrong you can be the subject of KYC verification, one common example is that if you happen to earn a significant amount of money most likely you are going to be hit by a KYC request in order to be able to withdraw your coins, however in this case I do not consider this to be wrong as casinos need to protect themselves from fraud and if the amount is significant it is natural they have their reservations about paying up.

If people send their details to third-party services and third-party services got hacked, all of the customer data can be used for many things. The hacker can sell the data to other party and they will get the money. So it needs more attention if that is related to our identity and does not send your details to any party without you know if they can protect your data or not. Just remember, when your data is upload to the internet, there is no guarantee to make sure your data is safe.

[leea-1334]

What do you call a willing victim please? How a victim could will to get scammed by somebody? I don't understand. You should pay more attention to the words you are using here, because one can think you are defending scammers and laughing at the victims.
It's very easy to scam people with a mandatory KYC. The scammers just need to ask more documents till the victim is not able to provide them. Or just reject the documents sent by the victim by saying they are not valid or they are fake.

Indeed,,, I do not see the difference between a willing and unwilling victim. You are a victim if you got scammed, regardless of whether you gave it up willingly,,, in fact unwilling victims may not even be aware of it.

Definitely sounds like he is not sympathetic to those who got hit by KYC. We know often enough in this forum how many people got tricked by it.

[jostorres]

I think the key point here is not legality or illegality, but that legality implies taxes and other extortions. I think most of the people who came to the crypto wanted to be away from government regulation and, accordingly, from taxes / licensing, etc. In fact, all legal casinos are deprived of the advantages that crypto gives us.

That is a very good observation and I agree that most of the bitcoin gamblers are playing at these small casinos because they want to remain hidden and avoid any taxes otherwise they can register and play a wider range of games at local casinos and some reputed ones online that operate in cash and fiat.

Players must read terms & conditions before playing if they are concerned about KYC because most of the casinos ask for it suddenly once you win big.

[TheGreatPython]

Online gambling and casinos site are strictly prohibited but kyc submit is very dangerous. I don't support kyc submission in casinos and gambling fund withdrawl. If it possible where gambling and casinos site fully valid.

See man I keep it clear and simple for myself. When I gamble at any casino, I usually play with significant amounts and since I trust them with my money, I also trust them with my identity if they ask me. I hardly fall for welcome offers and such lucrative deals because I want to gamble at a trusted casino and there is no way I will ever doubt them if they ask for my identity verification.

Cases may differ with different casino but my point is, if you are able to rely on one particular casino for your money then why not for your documents. It means if we choose right casino for our gambling purposes then we never need to worry for both of our money and documents. As simple as anything.

[tabas]

That will only happen if your wins are subjective and questionable but if you've got clean wins then you won't be questioned and won't be asked for a KYC.
The casinos have their choice to verify the winner if it's quite high for them and they really have to check it. There's nothing wrong with it if you're subject to it as long as it's a clean win and you didn't do anything wrong.

Yeah, and its impossible for someone not to take those things being required specially if we do talk about big winnings on here.For sure they would comply without any doubt unless if those wins do really came on shady act.

Most of casinos here on crypto market is regulated where you can really expect that they can ask out KYC anytime if there's something wrong towards your activity which we shouldnt really ignore
and its been stated always into their ToS.

There's indeed nothing to worry about if you have done nothing.

That's for sure that a gambler will no doubt comply if it involves big amount of winning. Why wouldn't he will take his money? despite the KYC and we don't like it but in situation like that, that will happen. Just don't think too much about KYC and keep gambling if you're enjoying and having fun until you hit big or until you have to stop.

[Saint-loup]

What do you call a willing victim please? How a victim could will to get scammed by somebody? I don't understand. You should pay more attention to the words you are using here, because one can think you are defending scammers and laughing at the victims.
It's very easy to scam people with a mandatory KYC. The scammers just need to ask more documents till the victim is not able to provide them. Or just reject the documents sent by the victim by saying they are not valid or they are fake.

Indeed,,, I do not see the difference between a willing and unwilling victim. You are a victim if you got scammed, regardless of whether you gave it up willingly,,, in fact unwilling victims may not even be aware of it.

Definitely sounds like he is not sympathetic to those who got hit by KYC. We know often enough in this forum how many people got tricked by it.

Yes some people like to despise victims and even to insult them sometimes in order to convince themselves they can't find themselves in this situation. That's a pretty childish way of thinking, I think. Instead of attacking the victims and laughing at them like cowards they should defend them and attack the scammers to stop these noxious practices.

[Ziskinberg]

I think the key point here is not legality or illegality, but that legality implies taxes and other extortions. I think most of the people who came to the crypto wanted to be away from government regulation and, accordingly, from taxes / licensing, etc. In fact, all legal casinos are deprived of the advantages that crypto gives us.

That is a very good observation and I agree that most of the bitcoin gamblers are playing at these small casinos because they want to remain hidden and avoid any taxes otherwise they can register and play a wider range of games at local casinos and some reputed ones online that operate in cash and fiat.

Players must read terms & conditions before playing if they are concerned about KYC because most of the casinos ask for it suddenly once you win big.

Whatever we think about it, it's still the government that would dictate us, if we say they will regulate crypto, which includes any business related to it. And since we like casinos to owned a license so we can trust them, that also means we have to sacrifice our privacy or anonymity as anything that is regulated by the government, they have control over it and they will require all the basic standards in a business, and that includes the KYC requirement.

[leea-1334]

Yes some people like to despise victims and even to insult them sometimes in order to convince themselves they can't find themselves in this situation. That's a pretty childish way of thinking, I think. Instead of attacking the victims and laughing at them like cowards they should defend them and attack the scammers to stop these noxious practices.

Unfortunately my friend in crypto and in gambling you see the most degenerate people,,, yes myself included:) I have never seen in a real place people beg for money or complain about rules but here,,, people complain for FREE things and when they have to follow the rules, they will make it such a big uproar. Very childish people act online,,, and would never do this in real life. Sad but being online makes them think they are anonymous:)

[Natalim]

Yes some people like to despise victims and even to insult them sometimes in order to convince themselves they can't find themselves in this situation. That's a pretty childish way of thinking, I think. Instead of attacking the victims and laughing at them like cowards they should defend them and attack the scammers to stop these noxious practices.

Unfortunately my friend in crypto and in gambling you see the most degenerate people,,, yes myself included:) I have never seen in a real place people beg for money or complain about rules but here,,, people complain for FREE things and when they have to follow the rules, they will make it such a big uproar. Very childish people act online,,, and would never do this in real life. Sad but being online makes them think they are anonymous:)

Complaining is bad in gambling, it only shows that you are not focused and you are not willing to accept the risk, or worst you don't even know the risk. Because we are gambling, we should assume that we are mature enough, we understand the risk, and we accepted it.

KYC is not a problem if we understand it's the rules of a regulated casino, of course we can find other casinos but we should understand that anonymous gambling is risky compared to gambling with KYC as casinos could disappear if they are not licensed.

when we say they are licensed, expect they will require a KYC< maybe not now, but maybe in the long run.

[shoreno]

1. Before we play we can read the t.o.s of a crypto casino to know if they require a kyc or not  . If they require a kyc right at the start , I won't play on them but I can play on a casino that doesn't require kyc during the sign up period . They may only require it before you withdrew and thats because your withdrawal is over the stated limit . I can do this if I won huge amount of cash unexpectedly because if I won't , my money will get forfeited. 

2. I feel safe of course because I don't play on a shady casino but I always make sure that before I play , Im on the safest casino .

[Obito]

1. As long as the KYC needed aren't that invasive to my privacy and they don't ask for too much data, I think that I will go and play on that online casino plus it helps me in the long run when I win something big, I wouldn't get hassled by complying to a KYC.

2.  To be honest, I don't feel safe giving away my information but if that's the only way to access the site and play there, I guess I'll just have to comply with it but again as long as it isn't asking for too much then we will not have any problem.

[michellee]

I think the key point here is not legality or illegality, but that legality implies taxes and other extortions. I think most of the people who came to the crypto wanted to be away from government regulation and, accordingly, from taxes / licensing, etc. In fact, all legal casinos are deprived of the advantages that crypto gives us.

That is a very good observation and I agree that most of the bitcoin gamblers are playing at these small casinos because they want to remain hidden and avoid any taxes otherwise they can register and play a wider range of games at local casinos and some reputed ones online that operate in cash and fiat.

Players must read terms & conditions before playing if they are concerned about KYC because most of the casinos ask for it suddenly once you win big.

Whatever we think about it, it's still the government that would dictate us, if we say they will regulate crypto, which includes any business related to it. And since we like casinos to owned a license so we can trust them, that also means we have to sacrifice our privacy or anonymity as anything that is regulated by the government, they have control over it and they will require all the basic standards in a business, and that includes the KYC requirement.

We can choose what casino we can use to gamble as I am sure that not all crypto gambling will follow the regulations and ask their members to fill KYC. We can find a casino with a license and do not require the members to fill KYC. If the casino can do this, they can get many members who will play on their site as the casino can give anonymity to them. A crypto gambler wants to hide their identity from others and the casino, so the casino will understand that.

[Text]

We can choose what casino we can use to gamble as I am sure that not all crypto gambling will follow the regulations and ask their members to fill KYC. We can find a casino with a license and do not require the members to fill KYC. If the casino can do this, they can get many members who will play on their site as the casino can give anonymity to them. A crypto gambler wants to hide their identity from others and the casino, so the casino will understand that.

It is perhaps rare today to see a pure crypto gambling site that has not been regulated.  So if they are not regulated, they also do not have a license to operate.  That is why it is very risky to gamble on such a platform.  There are still some of them that KYC is not mandatory, it is only required in case a lot of money is coming in and out of your account such as winning a huge amount and reaching the limit.

[jrrsparkles]

We can choose what casino we can use to gamble as I am sure that not all crypto gambling will follow the regulations and ask their members to fill KYC. We can find a casino with a license and do not require the members to fill KYC. If the casino can do this, they can get many members who will play on their site as the casino can give anonymity to them. A crypto gambler wants to hide their identity from others and the casino, so the casino will understand that.

It is perhaps rare today to see a pure crypto gambling site that has not been regulated.  So if they are not regulated, they also do not have a license to operate.  That is why it is very risky to gamble on such a platform.  There are still some of them that KYC is not mandatory, it is only required in case a lot of money is coming in and out of your account such as winning a huge amount and reaching the limit.

Some casinos operated without any license for years and build their reputation while lot other got some license for the sake of getting it and ran away with gambler's money so we should never take that casinos which is having some kind of license will not scam you because it is much easier now and can even get them via online.