Casino KYC how it works and to what effect

[RILWAN]

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.

[judeafante]

There are gambling sites that do not require KYCbut  under some circumstances will ask for a KYC it's under their TOS that may under some condition ask for KYC, when there is abuse if they think that there is money laundering or their casino is being used as a means to transfer or to verify if the account is the real owner if the owner loses the pin or 2FA or the account is locked, it's hard for casino to maintain a no KYC, and besides for every rule there's always an exception

[davis196]

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.

This question has already been answered before.
Some casinos want to build a legit and legal business.That's why they are following the rules and regulations by implementing KYC procedures.
Other casinos want to stay in the shadows,but they want to gain more customers by not having a KYC requirement(like you said,most gamblers hate KYC verification).
I don't know about KYC having any specific "advantages".I guess that the casinos complying to the rules and regulations is the only advantage of KYC.
The two main reasons why KYC was imposed are fighting money laundering and users trying to abuse the casino bonus programs,by creating multiple accounts.

[Beparanf]

There are gambling sites that do not require KYCbut  under some circumstances will ask for a KYC it's under their TOS that may under some condition ask for KYC, when there is abuse if they think that there is money laundering or their casino is being used as a means to transfer or to verify if the account is the real owner if the owner loses the pin or 2FA or the account is locked, it's hard for casino to maintain a no KYC, and besides for every rule there's always an exception

This is true. If we read carefully all the Casino ToS. They have some special note that KYC might require base on there own digression once they feel user is doing some shady activity that might broke the AML policy.

Actually KYC requirements is absolute for those casino that accepts fiat since its written on the AML policy. The reason why some crypto casino don't require KYC is because they are not accepting fiat in there deposit or in case they accept fiat, user that will deposit fiat is required to undergo KYC as per law. I hope everyone will understand this legal matter.

[Bitinity]

I do not like KYC for gambling but I do not see it as negative thing and I also thing most people do not see it negatively. Probably it is your own assumption only because there are many users here always talk about KYC and most of them do not want to deal with KYC in gambling industry. Fun fact, there are many users as well in this forum who passed KYC for airdrop/bounty reason but at the same time they do not want to do it for gambling. It shows that KYC is all about preferences, nothing else. Disagree with it does not mean it is negative, agree with it does not mean it is positive.

why do some casino operators have kyc and others don't have

Simple answer, it is related to the license. Most casinos with license always have the rule of KYC, it can be mandatory or optional for some specific cases only.

[Jawhead999]

Email aren't KYC except the email address you used contain your real name or something privacy, email is just like username you want to create on the casino.

It's different if they ask your ID which contain all of your personal information e.g. your name, where you live, birthday etc. What if they know it? They can come into your house and find you whatever they want. Of course there's a purposes behind it.

[rodskee]

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.

It depends in country's regulation mate , some requires KYC because they are being obligated and we cannot take it from them if they wanted to stay in business for long .

so KYC will be there if being required and will not if having a chance .

so What I am trying to say is just play in casino that has no KYC and don't bother yourself from playing in KYC requiring site if you don't wanna deal with it .

[Mauser]

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 offers a lot of advantages for the casinos and gambler in my opinion, but it also has some drawbacks as it removes the anonymity from online gambing. First of all KYC provides a layer for security for the casinos. If a casinos is offering promotions or sign up bonuses, than using KYC they can make sure that every gambler only signs up once at their casino. Without such measures in place, gamblers can take advantage of the promotions from the casino. Also KYC makes sure that there is no underage gambling. It is hard to enforce laws in every player is anonymous. For smaller amounts gambling with KYC can seem as a hustle, but at larger sums (>1000 USD) KYC should be the norm.

[Taskford]

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.

Some of the players don't like to provide this thing since they are skeptical about it and afraid for the risk for giving it to a platform. But people should learn to accept this since online gambling scene is innovating also this is starting to get a limelight to the government so its expected that there are big platforms has been regulated by them so for sure the KYC requirements will be implemented and we should ready for that and always choose the best casino and avoid unknown one.

[Rating Place]

I'm not a fan of KYC since databases are sold. If you're on the list, you may get mail or a phone call. Here's a list of KYC degree for sportsbooks.

KYC requirements on a graduated scale.
0 = never
5 = mandatory


"A" rated books
1 nitrogensports.eu
1 betcoin.ag    
1 playbetr.com        

"B"rated books
1 mBet.io Horse racing..
2 stake.com

"C" rated books
2 fortunejack.com
1 nitrobetting.eu
3 anonibet.com  
2 sportsbet.io  
2 cloudbet.com
2 Bitsler.com
5 Btb88.com

[robelneo]

Realizing how negatively kyc is seen by many players mostly in cryptocurrency casinos players am confused what kyc does in a casino,

Players do not want KYC but they do understand that few players are using casinos for money laundering and employ a technique to cheat casinos and check players if they are abiding by the rules, they also trace people who are no tallowed to play but can get in and play

why do some casino operators have kyc and others don't have.

There are who implemented no KYC sometimes makes an exception under some circumstances and besides KYC is meant to protect and abide by the rules of the license issuer, if you do not fall under their radar you're still good just follow the rules and you will not worry about the KYC

[Kakmakr]

KYC is the abbreviation for "Know Your Customer" and it was designed to protect financial institutions against fraud, corruption, money laundering and terrorist financing, but it is used to track people's financial transactions. The government force financial organizations to implement these standards.. so that they can follow people's money.

The "money laundering and terrorist financing" are used as a scare tactic to get these organizations to implement it. A company does not want to be associated with these crimes, so they fall for this. The governments also give huge fines, if these companies does not adhere to these standards.

Advantages :

1. The government knows all your transactions.
2. The government can tax all your wealth

Disadvantages :

1. You have zero financial privacy
2. A corrupt government can seize your wealth

[Fortify]

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.

The reason? It's quite simple - most casinos start off small and off the radar. In the fiat currency world, they wouldn't be able to launch and keep going because their payment processors require this sort of information. In a cryptocurrency format, they can exist for a lot longer before attracting any attention. You also have to remember that the owners of such casinos usually live in countries that require KYC, so are bound by those laws even if they hide their company behind a lot of shells. Once they have reached a certain threshold of earnings, it simply makes sense for the casino owners to legitimize - so they start paying local taxes and requiring KYC up front. They have reached a large enough player base that they can jettison any players who do not want to conform.

[Cling18]

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.

Some casinos require it for verification purposes but most gamblers don't want it simply because they have chosen crypto gambling because of the anonymity that it provides so giving their personal information would be a big risk for their security. Others don't want it because they don't want their personal details to leak which happened to other platforms before.

[Renampun]

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.

afaik, KYC is intentionally required by a gambling site to prevent negative things from happening...

we know that in this world many crimes occur, one of which is money laundering, and that makes governments in many countries pressure online gambling owners to require KYC for their users, I firmly believe KYC is the thing that online gambling site owners most don't want to be required to do, but they were forced to do that. but many users are bothered by privacy reasons and the like.

[Sterbens]

The answer is the rules that make KYC one of the things that must be met by gamblers when they are in a casino that is legal and regulatory for casinos that operate. As with most Curacao licenses and policies, it is to avoid acts of abuse. The casino policy aims to protect users as well as to protect the casino from operating. If you have seen here there is a list of casinos that do not require their use for KYC.
https://bitcointalk.org/index.php?topic=5381143.0

[PX-Z]

Simply because gambling is used by different kinda bad users, money laundering is common to gambling and every authorities is against it. Thats why some exchanges that is regulated ask kyc for the same reason.
The country who accept gambling as a business knows a lot about it. That's why the country is requiring it, the one who approved and give license to this business.

To sum it up, every regulated business in crypto requires it for the same reason, the AML.

[michellee]

I think the KYC benefits the casino and the government because they can know who their members have large funds to play gambling on their sites are. But I do not know the advantages for the user besides having the ability to withdraw huge win money because some gamblers can win much money from various games. But a gambler should realize that when they do KYC, they need to give their details to the site so there is a risk from the leaked data. I do not like KYC and I will search for the other casinos if I see the casino require their users to do KYC, even for small gamblers and I think it is not worth it for me to give my details to them.

[yayayo]

The KYS is becoming increasingly well-known and popular. We must gradually take into account that more and more sites will see this as a requirement. I don't think there is a problem with that itself, but sites should make it more known and not hide it somewhere in the general terms and conditions. Because who is going to read all the terms and conditions these days? The advantage is that a casino knows the site, and vice versa.

ya.ya.yo!

[Oceat]

Once there is a huge money involve you better expect a KYC, not just in casino but for every other places too where there is a money involve especially in banks. And also, you can read every ToS on different casinos if you don't know it's suppose to be mean. It will benefit to both gamblers and the exchanges for security reasons and also to avoid money laundering.

Even if you say that a player is just playing but once they hit the jackpot, then that's it, KYC is served.