Casino KYC how it works and to what effect

[michellee]

Realizing how negatively kyc is seen by many players mostly in cryptocurrency casinos players am confused what kyc does in a casino, why do some casino operators have kyc and others don't have. I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

Expect a casino to have a KYC if they have a license, this is compliant with their license issuer money laundering agreement, always be ready with your document even if you do not expect the casino to ask for KYC, once you joined a casino with the license they are legit and compliant with the existing laws and part of this is asking KYC from their players either random or if they think one account is questionable.

If they ask KYC randomly, that will make the other players jealous, especially if those players do not use much money to gamble or win much money. I prefer to select the casinos which do not ask too many details about me and the good news is we have a casino that does not require KYC. The casino just follows what is ordered because they use a license from providers and the casino does want that is happening to them.

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[Wexnident]

Realizing how negatively kyc is seen by many players mostly in cryptocurrency casinos players am confused what kyc does in a casino, why do some casino operators have kyc and others don't have. I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

Expect a casino to have a KYC if they have a license, this is compliant with their license issuer money laundering agreement, always be ready with your document even if you do not expect the casino to ask for KYC, once you joined a casino with the license they are legit and compliant with the existing laws and part of this is asking KYC from their players either random or if they think one account is questionable.

I expect it isn't random, they should have their own stuff that they're trying to judge whether they should ask for KYC or not, judging probably from the amount they bet (or are trying to withdraw) plus any suspicious activities, like maybe sudden deposits of big amounts when the user used to do small amounts and stuff like that. Any small things could turn suspicious if the user rarely do it, so they can probably do it like that. Honestly, it's understandable really. I may hate KYC but I know why they need to do it, but that doesn't still let me like it.

[Johnyz]

The most common reasons why people are preferring the crypto casinos is due to their privacy and you don't have to reveal your personal identity to anyone which is basically third person like government.But due to implementation of these KYC norms many feels hesitate to play over that sort of casino and this is most debatable topic in crypto market like some are fine with it while others prefer complete anonymity.So it's our personal choice we can play with KYC or simply choose casino like Stake who doesn't need it.

I absolutely agree with you. This is one of the debates where it is difficult to determine the correctness of one or another decision. I understand both players who are doing everything they can to minimize the likelihood of their personal data being leaked and players who don't resist the demands of regulators.

It is quite possible that in a while, passing the KYC will become as common as showing your documents when buying a plane ticket.

The rising requirement for KYC has been unstoppable, it looks like sooner or later most of the site will require KYC and that is because of the government pressure to the gambling site and we can't blame them since there's a lot of fraud money is crypto gambling and this is the main reason why the government are trying to intervene as much as possible.

If KYC is the main concern here, there are still some site where you can play without KYC, better to take advantage it now before they require KYC in the future, we can't know when.

[rhomelmabini]

The most common reasons why people are preferring the crypto casinos is due to their privacy and you don't have to reveal your personal identity to anyone which is basically third person like government.But due to implementation of these KYC norms many feels hesitate to play over that sort of casino and this is most debatable topic in crypto market like some are fine with it while others prefer complete anonymity.So it's our personal choice we can play with KYC or simply choose casino like Stake who doesn't need it.

I absolutely agree with you. This is one of the debates where it is difficult to determine the correctness of one or another decision. I understand both players who are doing everything they can to minimize the likelihood of their personal data being leaked and players who don't resist the demands of regulators.

It is quite possible that in a while, passing the KYC will become as common as showing your documents when buying a plane ticket.

The rising requirement for KYC has been unstoppable, it looks like sooner or later most of the site will require KYC and that is because of the government pressure to the gambling site and we can't blame them since there's a lot of fraud money is crypto gambling and this is the main reason why the government are trying to intervene as much as possible.

If KYC is the main concern here, there are still some site where you can play without KYC, better to take advantage it now before they require KYC in the future, we can't know when.

That's inevitable and we should expect it as the future since regulations are getting stricter across the globe and cryptocurrency isn't anymore a secret. Gambling is the most taxed and I think government will try to milk on it since crypto casino/gambling is a booming industry. But most by now requires even the lowest level of KYC, I expect it may require even a stricter one in the near future.

[Slow death]

The most common reasons why people are preferring the crypto casinos is due to their privacy and you don't have to reveal your personal identity to anyone which is basically third person like government.But due to implementation of these KYC norms many feels hesitate to play over that sort of casino and this is most debatable topic in crypto market like some are fine with it while others prefer complete anonymity.So it's our personal choice we can play with KYC or simply choose casino like Stake who doesn't need it.

the shadow part and when casinos ask people to KYC if they want to withdraw their funds because they suspect cheating or multiple accounts, many casinos withhold funds from people using this argument which most of the time is supported by the casinos TOS but at the same time it's something ridiculous because the owners of the casinos are anonymous people

[KTChampions]

The rising requirement for KYC has been unstoppable, it looks like sooner or later most of the site will require KYC and that is because of the government pressure to the gambling site and we can't blame them since there's a lot of fraud money is crypto gambling and this is the main reason why the government are trying to intervene as much as possible.

If KYC is the main concern here, there are still some site where you can play without KYC, better to take advantage it now before they require KYC in the future, we can't know when.

These unpleasant tendencies do exist, but it is far from a fact that in the end everything will be centralized and with KYC. Maybe this government pressure will lead to the emergence of fully decentralized services that will exist in the form of a torrent-like and then governments will have to accept the fact that such services will exist on their own outside of their reach.

[TopT3ns]

The most common reasons why people are preferring the crypto casinos is due to their privacy and you don't have to reveal your personal identity to anyone which is basically third person like government.But due to implementation of these KYC norms many feels hesitate to play over that sort of casino and this is most debatable topic in crypto market like some are fine with it while others prefer complete anonymity.So it's our personal choice we can play with KYC or simply choose casino like Stake who doesn't need it.

the shadow part and when casinos ask people to KYC if they want to withdraw their funds because they suspect cheating or multiple accounts, many casinos withhold funds from people using this argument which most of the time is supported by the casinos TOS but at the same time it's something ridiculous because the owners of the casinos are anonymous people

Gambling is not site giving an airdrop or bonus for participating but you need deposit fund and there are not any way how to earn money in gambling site without deposit, how come have suspect cheating or have multiple account without deposit? looks funny what for have multiple account if needed deposit fund and not giving free fund there. I think when depositing is success without have to pass KYC but what for when withdrawing we need KYC, I think cryptocurrency gambling is the best way how to hidden your identity and many people interested with crypto gambling they want not any body know about him active on gambling site.

[ShowOff]

That's inevitable and we should expect it as the future since regulations are getting stricter across the globe and cryptocurrency isn't anymore a secret. Gambling is the most taxed and I think government will try to milk on it since crypto casino/gambling is a booming industry. But most by now requires even the lowest level of KYC, I expect it may require even a stricter one in the near future.

Taxes are one of the reasons why KYC is necessary and probably only "mostly" adopted by countries whose governments have legalized gambling. But anyway, gamblers always have the option of avoiding casinos that require KYC on users and I don't think that's a problem.

KYC may be a viable effort to prevent something neither casinos nor the government allow such as money laundering and casino fraud. But in many cases the privacy of gamblers is at stake with the existence of KYC, for the first level it may still be understandable but when the KYC level is raised I am sure many people who don't like KYC will avoid casinos.

[$crypto$]

KYC may be a viable effort to prevent something neither casinos nor the government allow such as money laundering and casino fraud. But in many cases the privacy of gamblers is at stake with the existence of KYC, for the first level it may still be understandable but when the KYC level is raised I am sure many people who don't like KYC will avoid casinos.

This effort has indeed been implemented in many casinos because they only want to prevent theft and money laundering, so the government will certainly be stricter in regulating casinos if they are licensed.
My first level KYC didn't have a problem with it because it only needed basic information, but if there were problems then usually the casino would upgrade to Lvl KYC 2, which is an absolute reason because the casino isn't they are being cheated on but some privacy is something that is needed want some crypto casino.

[fiulpro]

Realizing how negatively kyc is seen by many players mostly in cryptocurrency casinos players am confused what kyc does in a casino, why do some casino operators have kyc and others don't have. I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

Many casinos work with KYC and without KYC but at the same time there are countries where the government generally regulates these casinos and they do require them to have a KYC done. Therefore all these casinos are just following the rules. But there are certain countries where KYC is not the issue but rather the other regulations are.

I do think a casino which accepts KYC might be more reliable, help people solve feuds and at the same time will also provide lawful neutral help as well. They are backed by the government, helps if people try to evade from taxes and also helps in case of frauds as well.

But there are casinos which operate normally without KYC which people usually prefer since singing up is quick and easy plus they don't report to anyone.

[panjul07]

Realizing how negatively kyc is seen by many players mostly in cryptocurrency casinos players am confused what kyc does in a casino, why do some casino operators have kyc and others don't have. I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

KYC is seen negatively in crypto gambling industry because it used to be no KYC at all in the beginning of crypto gambling history.
Those who start gambling from crypto might seeing this negatively, but those who start gambling from fiat gambling, it is not really a big deal.
How KYC works? In simple word, it is similar to what you do when it comes to exchange where you have to submit your personal document (Can be National ID, driving license or passport).
Email is not part of KYC as far as I understand.

[fzkto]

If the casinos do not apply strict KYC, that will make gamblers feel okay and comfortable playing in their place and maybe that can be a place for people to spend their money by playing many games.

Very true. Without KYC, there will be many people who want to visit and play gambling games on the casino sites. They must be interested to join because they are no longer needed to submit their private data to casino sites. I agree that requiring KYC is very annoying, I doubt that my private data isn't very secure to submit there. KYC sometimes ruins the happiness of playing gambling games, we feel uncomfortable because of that necessity.

I totally agree with you. KYC very often discourages many players, for example because personal data can fall into unreliable hands or government agencies. In the former case, you may be robbed or your data may be used for bad purposes. In the second case, you will have to pay a tax, which in many countries is very high. India, for example, has imposed a 30% tax on cryptocurrencies, as well as gambling.

[blockman]

Many are still good and don't apply KYC to their customers, only if they'll be good to their accounts. The casino will step on it if that person has been caught being distrustful.
That's when they will start asking for documents and proof of ownership and identity from that person. Just be sure that you're the person they really are dealing with because when they start being doubtful to you, you really have to proceed what's being asked.

What I did to avoid this problem is I spread my bets on different gambling sites. I understand that when you are gambling with a decent amount of money, you might become subject to KYC in the long run if you keep winning, so that is not good for me as it will defeat the purpose why I'm gambling using crypto casinos because of privacy.

Very true. That's why if you're depositing with a large amount, make sure that you're prepared for the possible KYC. But if they don't ask you then that's good for you as they don't find that noticing.
Just to avoid it, be sure that you're following the policy when it comes to deposits and don't make them surprised that you're putting an amount that's not used to the activity while you're gambling into that casino where you used to play.

[Fatunad]

Realizing how negatively kyc is seen by many players mostly in cryptocurrency casinos players am confused what kyc does in a casino, why do some casino operators have kyc and others don't have. I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

Expect a casino to have a KYC if they have a license, this is compliant with their license issuer money laundering agreement, always be ready with your document even if you do not expect the casino to ask for KYC, once you joined a casino with the license they are legit and compliant with the existing laws and part of this is asking KYC from their players either random or if they think one account is questionable.

So far, asking out KYC is random still in most case nowadays which these licensed gambling sites arent forcefully or make it mandatory up to now but i wont really be surprised
that one day they will really be asking it out on every user and if all of them would be acting the same then is there any options thats left for us?
None for sure and just like on dealing with fiat casinos then we would really be going into the same spot one day when regulations becomes
more tighter as we do go ahead.

[Vaskiy]

Majority are against the KYC. Just an example to make people understand the truth about it. India have recently made cryptocurrency to be taxed at 30% which is very high. If the person is using cryptocurrencies for gambling, maybe the wagered value will stand for taxation. We have agreed to certain terms and conditions in which one is sharing the KYC verification details if government requests on need.