Crypto-Casinos and KYC

[johhnyUA]

Right now freebitco.in is the only casino I know that doesn't ask for any KYC. The casino in my signature is also not famous for asking KYC but they still have it in their ToS if I am not wrong which means they can weaponize KYC when it is necessary. (not saying they do or they will. They can though)

It is good to advertise service which don't ask for KYC  
So you're not going against your principles

I don't know why crypto casinos want a license neither. freebitco.in has no license and they have been doing just fine.

Because without a license there will be a big problem for you in time. For honest, i think that freebitco has some offshore license. Because without it i doubt that they would operate for so long.

[passwordnow]

Imagine, even if you are an underdog, you can gamble here since you can lie on your age when you sign up, and since there's no KYC, you can freely gamble without any problem as long as you don't gamble a lot that would ring a bell on the casino.

Truth to be told this also happens in fiat casinos, after all in my experience you are only asked for KYC information when you want to withdraw so you can deposit as much money as you want and gamble with it but as soon as you want to get your money out of their platform then you are hit with KYC, this means that kids can gamble with fiat as well with no problem and when we take into account that some video games allow you to gamble as well with real money then this is a risk that not only exists here.

That's the very typical process whenever you're hitting the bell of the casino you're gambling with. If the activity isn't the same with your account's history then they'll suddenly ask you for a kyc because they're having that suspected activity that your account and their system used to have. I think there's no way to know that a kid is gambling on their casino unless being asked for kyc but if their parents are allowing them, they're just going to ask their parents to do it for them.

[michellee]

Imagine, even if you are an underdog, you can gamble here since you can lie on your age when you sign up, and since there's no KYC, you can freely gamble without any problem as long as you don't gamble a lot that would ring a bell on the casino.

Truth to be told this also happens in fiat casinos, after all in my experience you are only asked for KYC information when you want to withdraw so you can deposit as much money as you want and gamble with it but as soon as you want to get your money out of their platform then you are hit with KYC, this means that kids can gamble with fiat as well with no problem and when we take into account that some video games allow you to gamble as well with real money then this is a risk that not only exists here.

This is when you do deal with fiat casinos online where you would need to comply KYC  unlike on crypto online casinos where you cant really be asked for
such information excluding into other casinos which had recently changed up their terms due to regulation reasons where there are such changes where in result into asking out those information and this is where crypto becomes popular due to anonymity on where you can freely play without giving out your information and without minding much that your information would be known but somehow it could really have some cons too.

Crypto casinos and KYC will always be related because crypto on one side offers anonymity to gamblers. But the government wants to know their customer and asking the casino to apply KYC for their members. Some casinos will follow the regulations, while the other casino that is out of that jurisdiction will not follow and will allow people to play gambling without KYC.

Nowadays, a gambler becomes smart. They know that when they are playing gambling using crypto, they will not have to send their identity to the casino and they can hide in their rooms and gamble and make money from gambling. As long as they do not make the alarm sound, they will be okay with playing gambling.

[Natalim]

Imagine, even if you are an underdog, you can gamble here since you can lie on your age when you sign up, and since there's no KYC, you can freely gamble without any problem as long as you don't gamble a lot that would ring a bell on the casino.

Truth to be told this also happens in fiat casinos, after all in my experience you are only asked for KYC information when you want to withdraw so you can deposit as much money as you want and gamble with it but as soon as you want to get your money out of their platform then you are hit with KYC, this means that kids can gamble with fiat as well with no problem and when we take into account that some video games allow you to gamble as well with real money then this is a risk that not only exists here.

This is when you do deal with fiat casinos online where you would need to comply KYC  unlike on crypto online casinos where you cant really be asked for
such information excluding into other casinos which had recently changed up their terms due to regulation reasons where there are such changes where in result into asking out those information and this is where crypto becomes popular due to anonymity on where you can freely play without giving out your information and without minding much that your information would be known but somehow it could really have some cons too.

Crypto casinos and KYC will always be related because crypto on one side offers anonymity to gamblers. But the government wants to know their customer and asking the casino to apply KYC for their members. Some casinos will follow the regulations, while the other casino that is out of that jurisdiction will not follow and will allow people to play gambling without KYC.

Nowadays, a gambler becomes smart. They know that when they are playing gambling using crypto, they will not have to send their identity to the casino and they can hide in their rooms and gamble and make money from gambling. As long as they do not make the alarm sound, they will be okay with playing gambling.

Easy for them to do that but there's always a risk on their side, that's an identity thief or they might not be able to go after the gambling site if they will file a case once the site is scamming its clients because they are not using their real identity. I don't know if there are still gambling sites that will offer anonymous gambling in the future, because wherever they are, as long as they are regulated, the government would always require them to implement a KYC as that is the standard for every government.

[michellee]

Easy for them to do that but there's always a risk on their side, that's an identity thief or they might not be able to go after the gambling site if they will file a case once the site is scamming its clients because they are not using their real identity. I don't know if there are still gambling sites that will offer anonymous gambling in the future, because wherever they are, as long as they are regulated, the government would always require them to implement a KYC as that is the standard for every government.

That is another problem that will a gambler face in the future if they decide to use a fake identity in the gambling casino. They hope that they can play gambling without a problem and if they can found a casino that does not require KYC, maybe they will stay at that casino without moving into the other casino. I guess there will still be a casino that does not require the member to fills KYC. I will not have a problem using the casino, which requires KYC but that will be better if we give our identity if we want to withdraw big money more than 1 bitcoin.

[magneto]

Right now freebitco.in is the only casino I know that doesn't ask for any KYC. The casino in my signature is also not famous for asking KYC but they still have it in their ToS if I am not wrong which means they can weaponize KYC when it is necessary. (not saying they do or they will. They can though)

I don't know why crypto casinos want a license neither. freebitco.in has no license and they have been doing just fine.

That's just flat out wrong.

There are still a lot of casinos out there that implicitly never ask for your KYC. Bitsler, roobet, duelbits, you name it. Sure, they have the final say when it comes to whether you get KYC'd or not, but isn't that every single casino that you play on (including freebitco.in, which has atrocious odds)?

Unless you play on a decentralised betting exchange, which is not yet fully popularised, I don't think you can ever escape this inevitability. This risk of AML protocol has to be accepted on any central platform.

[Oilacris]

Easy for them to do that but there's always a risk on their side, that's an identity thief or they might not be able to go after the gambling site if they will file a case once the site is scamming its clients because they are not using their real identity. I don't know if there are still gambling sites that will offer anonymous gambling in the future, because wherever they are, as long as they are regulated, the government would always require them to implement a KYC as that is the standard for every government.

That is another problem that will a gambler face in the future if they decide to use a fake identity in the gambling casino. They hope that they can play gambling without a problem and if they can found a casino that does not require KYC, maybe they will stay at that casino without moving into the other casino. I guess there will still be a casino that does not require the member to fills KYC. I will not have a problem using the casino, which requires KYC but that will be better if we give our identity if we want to withdraw big money more than 1 bitcoin.

It would really be surely a big problem whenever you do hit up some big wins and accompanied with some issues where you do need to make out some verification and if you do input false information earlier then that would surely be a big mess.

KYC is mainly hated on crypto but due to regulation these platforms wont really be having any choice but to impose those if they had been asked to do so.

So as a user then we wont have any choice too but actually there are still lots of options for us to take.

[RealMalatesta]

I don't know why crypto casinos want a license neither. freebitco.in has no license and they have been doing just fine.

Crypto gambling houses need license things when they plan to add fiat deposit/withdraw functionality. It means when they stay like only-crypto house then they never need any of license. But, due to gambler's demand in the name of convenience they try to extend their services by including fiat functionalities which leads to all the hassles of KYC related.

This risk of AML protocol has to be accepted on any central platform.

Nowadays this is the exact case with 99% of gambling houses. I am not seeing any of gambling house is being operated only on blockchain to remain fully decentralized; I know technically it will be possible but people want centralized houses to gamble in instant which leads to make them more popular and dominant once hence KYC thing as well become inevitable.

[Fortify]

Right now freebitco.in is the only casino I know that doesn't ask for any KYC. The casino in my signature is also not famous for asking KYC but they still have it in their ToS if I am not wrong which means they can weaponize KYC when it is necessary. (not saying they do or they will. They can though)

I don't know why crypto casinos want a license neither. freebitco.in has no license and they have been doing just fine.

That's just flat out wrong.

There are still a lot of casinos out there that implicitly never ask for your KYC. Bitsler, roobet, duelbits, you name it. Sure, they have the final say when it comes to whether you get KYC'd or not, but isn't that every single casino that you play on (including freebitco.in, which has atrocious odds)?

Unless you play on a decentralised betting exchange, which is not yet fully popularised, I don't think you can ever escape this inevitability. This risk of AML protocol has to be accepted on any central platform.

To be honest, if you want to gamble you're much safer if you find an online fiat casino that is regulated within your own country, otherwise they can put up all sorts of walls to getting your funds and online cryptocurrency based sites are constantly under attack by malicious people who want to steal it all. Unlike a bank if hackers find a way in, they need infrastructure to get the money out which is just as difficult. If a hacker manages to get into a Bitcoin wallet owned by a gambling institution, they can move it instantly and with no way to get it back, after that there are numerous ways for them to launder it so the trail will go cold.It's no wonder all these ransomware attacks are so successful, because they're able to extract near untraceable rewards.

[michellee]

Easy for them to do that but there's always a risk on their side, that's an identity thief or they might not be able to go after the gambling site if they will file a case once the site is scamming its clients because they are not using their real identity. I don't know if there are still gambling sites that will offer anonymous gambling in the future, because wherever they are, as long as they are regulated, the government would always require them to implement a KYC as that is the standard for every government.

That is another problem that will a gambler face in the future if they decide to use a fake identity in the gambling casino. They hope that they can play gambling without a problem and if they can found a casino that does not require KYC, maybe they will stay at that casino without moving into the other casino. I guess there will still be a casino that does not require the member to fills KYC. I will not have a problem using the casino, which requires KYC but that will be better if we give our identity if we want to withdraw big money more than 1 bitcoin.

It would really be surely a big problem whenever you do hit up some big wins and accompanied with some issues where you do need to make out some verification and if you do input false information earlier then that would surely be a big mess.

KYC is mainly hated on crypto but due to regulation these platforms wont really be having any choice but to impose those if they had been asked to do so.

So as a user then we wont have any choice too but actually there are still lots of options for us to take.

But that will not be advisable if you use fake information of your identity because that can make your account get banned by them and lose your win money. If the casino allows them not to verify their account, then maybe they can withdraw small money without trying to break the limit for verifying their account. By doing that, they can still get their winning and can withdraw the other amount in the next days until they got all of their winning money.

I am sure if the casino is bond with the government, they will force their members to do KYC to report it to the government. If that happens, there is no other way to search for the different casino or follow them or stop playing gambling.

[KTChampions]

To be honest, if you want to gamble you're much safer if you find an online fiat casino that is regulated within your own country, otherwise they can put up all sorts of walls to getting your funds and online cryptocurrency based sites are constantly under attack by malicious people who want to steal it all. Unlike a bank if hackers find a way in, they need infrastructure to get the money out which is just as difficult. If a hacker manages to get into a Bitcoin wallet owned by a gambling institution, they can move it instantly and with no way to get it back, after that there are numerous ways for them to launder it so the trail will go cold.It's no wonder all these ransomware attacks are so successful, because they're able to extract near untraceable rewards.

In fact, many times those casinos and bookmakers that are "legal" and have licenses from the authorities very often abuse their capabilities and try to deceive players when issuing money. In addition, they ban successful players, cut their betting limits, etc. I do not know if this is so in all countries, but in my (Russia) it is. If you look at the forums, a lot of players complain about this casino behavior.

[ethereumhunter]

Nowadays I don't think the type of license matters much anymore. I myself have read that sites of the MGA affiliated are stricter with the KYC, but that it is a one-off. And even if you did, you still have no guarantees. It is best to rely on individual player experience to see what is reliable. some players want to remain anonymous, but that is very difficult now.

But we can still hope that the casino will think about the anonymity of their members and not forcing them to fills KYC. Maybe they can make a new rule on their site that will give a chance for the crypto gambler to play anonymously. The crypto itself offers anonymity and freedom to its user, so I think it might be a casino will still have that option for their members. Maybe the casino will give another compensation to the government that wants to know their customer by paying high taxes for that casino.

[freedomgo]

Nowadays I don't think the type of license matters much anymore. I myself have read that sites of the MGA affiliated are stricter with the KYC, but that it is a one-off. And even if you did, you still have no guarantees. It is best to rely on individual player experience to see what is reliable. some players want to remain anonymous, but that is very difficult now.

But we can still hope that the casino will think about the anonymity of their members and not forcing them to fills KYC. Maybe they can make a new rule on their site that will give a chance for the crypto gambler to play anonymously. The crypto itself offers anonymity and freedom to its user, so I think it might be a casino will still have that option for their members. Maybe the casino will give another compensation to the government that wants to know their customer by paying high taxes for that casino.

That's not possible because regulation has no exemption, casinos do not create a rule that is not in accordance with the regulation, they should be in compliance with it, otherwise, their license will be revoked. If we like to keep playing anonymously, then we should not force ourselves to play in a casino that is already regulated.

[JEFE92]

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?

My opinion: No, because fiat casinos offer much better services, odds, and games so I would never want to do KYC at a crypto casino and if I was going to do it, I would rather play at a fiat casino like bet365. There are countless options of exchanging your Bitcoins to skrill/neteller and deposit to play. I don't think that's a problem for anyone so unless crypto casinos offer better services, I won't play there if KYC is required. On top of everything else, the main reason why crypto was made was to keep ourselves anonymous and if crypto casinos should follow the same path.

If a player cheated the casino by any means, then the casino should just ban the player because asking for KYC is not going to solve the case.


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

My opinion: After the documents are sent, they go through a number of people and online casinos keep changing their staff from time to time and in some case, if a staff member knows my address and in case I am a high-roller I would be in some serious trouble because the staff member can track me and even blackmail me to some extent. I am ok with giving my identity to known sites like bet365 or williamhill but I am still not comfortable verifying myself at a lesser-known crypto casino.

Tbh giving your docs for KYC to crypto casinos is the same as giving docs to crypto exchanges. Nothing bad will happen. For my part, I can offer 2 casinos where I still have not received any KYC: Thunderpick and Stake

[stadus]

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?

My opinion: No, because fiat casinos offer much better services, odds, and games so I would never want to do KYC at a crypto casino and if I was going to do it, I would rather play at a fiat casino like bet365. There are countless options of exchanging your Bitcoins to skrill/neteller and deposit to play. I don't think that's a problem for anyone so unless crypto casinos offer better services, I won't play there if KYC is required. On top of everything else, the main reason why crypto was made was to keep ourselves anonymous and if crypto casinos should follow the same path.

If a player cheated the casino by any means, then the casino should just ban the player because asking for KYC is not going to solve the case.


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

My opinion: After the documents are sent, they go through a number of people and online casinos keep changing their staff from time to time and in some case, if a staff member knows my address and in case I am a high-roller I would be in some serious trouble because the staff member can track me and even blackmail me to some extent. I am ok with giving my identity to known sites like bet365 or williamhill but I am still not comfortable verifying myself at a lesser-known crypto casino.

Tbh giving your docs for KYC to crypto casinos is the same as giving docs to crypto exchanges. Nothing bad will happen. For my part, I can offer 2 casinos where I still have not received any KYC: Thunderpick and Stake

That's right, and we should not hesitate to do that if we trust the casino we are gambling. We need to ensure that the certain casino is registered so you can go after them if they messed up with your KYC documents, which is a big crime for them.

[Silberman]

Easy for them to do that but there's always a risk on their side, that's an identity thief or they might not be able to go after the gambling site if they will file a case once the site is scamming its clients because they are not using their real identity. I don't know if there are still gambling sites that will offer anonymous gambling in the future, because wherever they are, as long as they are regulated, the government would always require them to implement a KYC as that is the standard for every government.

That is another problem that will a gambler face in the future if they decide to use a fake identity in the gambling casino. They hope that they can play gambling without a problem and if they can found a casino that does not require KYC, maybe they will stay at that casino without moving into the other casino. I guess there will still be a casino that does not require the member to fills KYC. I will not have a problem using the casino, which requires KYC but that will be better if we give our identity if we want to withdraw big money more than 1 bitcoin.

Many casinos are very tolerant when it comes to asking for KYC, they know that if they ask this information to every single one of their clients then soon enough they are going to find themselves without clients as the majority of the people in this market care about their privacy, this is why you should not worry that much about this, however if you play with a big amount of money then you should prepare yourself and accept that sooner or later you will have to go through it especially if you win a significant amount of money.

[ReiMomo]

~snip~

Tbh giving your docs for KYC to crypto casinos is the same as giving docs to crypto exchanges. Nothing bad will happen. For my part, I can offer 2 casinos where I still have not received any KYC: Thunderpick and Stake

I guess it is but still, you need to be careful upon giving your KYC documents especially if a platform that newly created and runs its operation only for a week, that is hard to trust. I don't know if this is the fact now that we must accept if we are using crypto, we should accept that KYC is very common now and expecting that the site that involves money or any financial, it surely need KYC verification.

If there's a way to avoid it then you have a choice, if you don't like it, it's up to you. Pick the right one that you could trust in just a single glance.

[Smartprofit]

I am totally against going through the KYC procedure in an online casino with a cryptocurrency! 

When I play in a casino, I want to remain anonymous.  When I conduct cryptocurrency transactions, I also want to remain anonymous.  I don't trust the casino staff. 

Most of them are employees.  They can be fired.  They can ruin their relationship with the casino administration.  They can be dishonest people with criminal inclinations. 

As a result, my personal data will end up on the darknet.  This is absolutely unacceptable!

[ethereumhunter]

Nowadays I don't think the type of license matters much anymore. I myself have read that sites of the MGA affiliated are stricter with the KYC, but that it is a one-off. And even if you did, you still have no guarantees. It is best to rely on individual player experience to see what is reliable. some players want to remain anonymous, but that is very difficult now.

But we can still hope that the casino will think about the anonymity of their members and not forcing them to fills KYC. Maybe they can make a new rule on their site that will give a chance for the crypto gambler to play anonymously. The crypto itself offers anonymity and freedom to its user, so I think it might be a casino will still have that option for their members. Maybe the casino will give another compensation to the government that wants to know their customer by paying high taxes for that casino.

That's not possible because regulation has no exemption, casinos do not create a rule that is not in accordance with the regulation, they should be in compliance with it, otherwise, their license will be revoked. If we like to keep playing anonymously, then we should not force ourselves to play in a casino that is already regulated.

That is just a hope which may be happening. But you are right, and if we do not like the regulated casino, we can search for the other casino which is not used KYC or send our document to them. If you want to stay at that casino and are okay to send your document to them, make sure you join the recommended gambling site and stay away from the suspicious gambling site.

[KTChampions]

That is just a hope which may be happening. But you are right, and if we do not like the regulated casino, we can search for the other casino which is not used KYC or send our document to them. If you want to stay at that casino and are okay to send your document to them, make sure you join the recommended gambling site and stay away from the suspicious gambling site.

I'm not sure if this is possible, but I hope that with the advent of decentralized powerful, and most importantly cheap blockchains (for example, ETH2), decentralized casinos will appear. Thus, the problem of KYC will be solved since the authorities will not have before them some kind of organization that can be forced to comply with some rules.