Casino KYC how it works and to what effect

[Fundamentals Of]

KYC is there so that casinos know every single user they have. They are implementing verification in every single gambler so that if a certain incident happens involving one of their clients, it is easy to trace or to locate the person or persons involved. More often, this KYC requirement is associated with money laundering or funding terrorism. Since gambling is one of the most common ways to launder funds, casinos are implementing ways to know the personal identities of each of their gamblers.

The disadvantage of course is that privacy is violated.

[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.

So casinos that require KYC can easily track players with the personal information provided and since there is legal casino house they are prompted by the authorities to give out our information and even some shady ones can sell out our information to scammers.
This is the major reason why many will stay away from kyc.

Yeah, this is an intention from the casino if they want to track the players or sell our KYC to unknown person. It's also possible if the legit casino doesn't have any intention to do anything with our KYC, but his casino got hacked and our KYC breached. The hacker will able know which player is high roller and where's he live, they can came into his house and rob his money.

This similar like you show off your money, luxury car or expensive brand stuff to public... you'll be targeted by bad person.

[molsewid]

Yeah, this is an intention from the casino if they want to track the players or sell our KYC to unknown person. It's also possible if the legit casino doesn't have any intention to do anything with our KYC, but his casino got hacked and our KYC breached. The hacker will able know which player is high roller and where's he live, they can came into his house and rob his money.

This similar like you show off your money, luxury car or expensive brand stuff to public... you'll be targeted by bad person.

This is the biggest fear of many of the crypto user why they prefer a gambling which doesn't have a KYC verification. And actually, even myself, I would also going to prefer a no KYC Verification gambling site because I don't to disclose my personal info with anyone and I guess this is the one of the feature that a gambling site wanted to use crypto as a monetarily involved in gambling because many crypto gamblers are really preferred a non KYC verification site.

[YOSHIE]

I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

From one side, gambling sites that require participants with KYC are good, but there are also bad things, it depends on the site, if the site is declared a scam site you are more careful about KYC, honest and responsible gambling sites, there is no harm in KYC.

Honestly, I personally rarely use and bet on sites with KYC rules, I prefer simple sites that are important for their reputation, After all, I bet just for fun, not just to earn and have to win $$$$$.

[TopT3ns]

I email also a part of kyc because most casinos often than not request email. What are KYC's advantages and disadvantages.

From one side, gambling sites that require participants with KYC are good, but there are also bad things, it depends on the site, if the site is declared a scam site you are more careful about KYC, honest and responsible gambling sites, there is no harm in KYC.

Honestly, I personally rarely use and bet on sites with KYC rules, I prefer simple sites that are important for their reputation, After all, I bet just for fun, not just to earn and have to win $$$$$.

Not every one looks happy with KYC on gambling site, some one try how to hidden their identity with gambling site and looking with crypto gambling for hidden their self, right now many gambling site support using local bank and they try not participant on local site gambling because will be publish about his document about withdrawing bank account. I think not really happy if any gambling site need to pass KYC for withdrawing or begin gambling, better I will find which one site still not needed KYC document when begin gambling site.

[michellee]

Honestly, I personally rarely use and bet on sites with KYC rules, I prefer simple sites that are important for their reputation, After all, I bet just for fun, not just to earn and have to win $$$$$.

If many people follow your way, I am sure they will not have to feel bad if they lose or get a scam from the site because they only gamble for fun and nothing else. Even if they lose, they will realize that is part of gambling. You win and the other time, you lose and will always like that.

I also do that as I do not want to lose more money and avoid the addiction. So if you do not use gambling as your source of income, you do not have to worry about anything because you do not chase anything and only use your free time to gamble and quit whenever you think it is enough to bet.

[joeperry]

It's part of their security and policy as a licensed or regulated gambling site, usually it is all about AML policy to avoid money laundering and other illegal activities. That's why I don't play on gambling sites that has AML policy or KYC policy even if they don't have a license that is why it is important for the players to read or at least browse their privacy policy, terms and conditions and other things before signing up or playing on their website.

KYC have pros and cons one pros is it will filter out or eliminate money launderers and users who are taking advantage to the gambling site, one cons is they may sell it to other companies or to anyone.

[ralle14]

Not every one looks happy with KYC on gambling site, some one try how to hidden their identity with gambling site and looking with crypto gambling for hidden their self, right now many gambling site support using local bank and they try not participant on local site gambling because will be publish about his document about withdrawing bank account. I think not really happy if any gambling site need to pass KYC for withdrawing or begin gambling, better I will find which one site still not needed KYC document when begin gambling site.

I somewhat agree with what you're trying to point out but there are still downsides when it comes to casinos with less strict KYC. There are still a lot of people who prefer to play in casinos that don't require KYC but eventually it's going to be needed as they have to follow the regulations. It's kind of similar to how some crypto exchanges started without KYC then after some years they're requiring everyone to verify their account.
I still prefer casinos without KYC but it gets dicey once you start winning a lot since you never know when you'll get hit with a surprise KYC.

[Strongkored]

What are KYC's advantages and disadvantages.

Maybe if casinos could choose not to implement KYC they would prefer it because it would reduce the work they have to do, but they are unlikely to go against the rules of the country in which they operate so must comply that rule. The advantage for their casino can protect their business from players who use their services as a place of money laundering, the disadvantage is they are very likely to lose prospective members because they are reluctant to play at casinos that require KYC. For players the disadvantage makes their identity revealed and there will be even more disadvantage if there is a data leak.

[Slow death]

kyc doesn't have any advantage when it comes to KYC on a site where the site's owners are anonymous, can you imagine who will guarantee that your documents will be safe? Why do you have to show your ID to someone who is anonymous?

on the other hand, KYC only helps in the matter of preventing minors from using casinos and in the fight against money laundering.

[xSkylarx]

It is primarily for the purpose of identification and to prevent attacks such as spamming on their website. It is also an additional layer of security to ensure that you are interacting as a human and not a bot. It is also because of their license that they require the user to complete a KYC. Well, my opinion on this is that I do not want true KYC because I only want to play and have fun without having to worry about my identity, but I believe that this is necessary for the website owner to keep their website safe from spammers.

[yazher]

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.

That's really an annoying requirement because as we know, not all crypto casinos have legit licenses, some of them are operating illegally which they only pretend to collect users' data to make them look real. I don't really like that idea because their sites can be compromised someday along with the user's data which can be sold in the black market for some good money.

[iv4n]

kyc doesn't have any advantage when it comes to KYC on a site where the site's owners are anonymous, can you imagine who will guarantee that your documents will be safe? Why do you have to show your ID to someone who is anonymous?

You hit the point here Slow Death! So why would we go with KYC when the owners are anonymous? What's the point in that? From this we can only make one conclusion, KYC in crypto casinos is used to delay payments to people who wish to withdraw! It's usually when someone wins big, but there are cases when casinos ask people for KYC when they won something more from free money and they want to withdraw!
Well, I am avoiding that KYC, and I can't remember the last time I had to verify myself... simply when KYC becomes mandatory I simply move to other places!

[Chato1977]

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.

if you wanted a safer playing experience then best to get involved in casino that asks for KYC , because with those they are there to provide safer gambling experience .

But for me personally ? i hate KYC lol .

i would rather play in casino that has no KYC requirement  

[Tumanggor]

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.

based on the TOS I read on my favorite gambling site that requires KYC

- Monitoring and investigating transactions for the purposes of preventing fraud, terms abuse, money laundering, and other illegal or irregular gaming activities;
- Analysing customer trends through market study assessments (participation in surveys is not obligatory and you can always choose not to take part);
- Conducting research and statistical analysis of aggregated data.

Nowadays, the competition is getting tougher, so many online gambling sites require their users to do KYC so that their site is safe from problems

average KYC level 1 is enough for users to make withdrawals or deposits

[rhomelmabini]

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 was only required to those casinos that are registered on the state they are into, mostly it's required to prevent laundered money, it mostly falls on that. I can't tell the advantages to players but I think advantage was all on the casino considering they are complying it but disadvantages are into players especially if the casino was compromised or it runs out of business since they can sell those data to other third parties.

[Oasisman]

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.

Well, that's the same reason why government wants to regulate cryptocurrency. They want us to be protected from any fraudulent attacks and so they can track whose responsible for the fraudulent activities, and also not to mentioned the money laundering as well.
It's just sad that this kind of user protection defeats the purpose of cryptocurrency as a decentralised currency and anonymous.

Most of the crypto enthusiast hates the idea of KYC and regulations, but I guess we are heading that way fully in the next couple of years.

[passwordnow]

if you wanted a safer playing experience then best to get involved in casino that asks for KYC , because with those they are there to provide safer gambling experience .

But for me personally ? i hate KYC lol .

i would rather play in casino that has no KYC requirement 

Many don't like KYC. And that's why for experienced gamblers, if they don't want to comply with kyc the best thing they do is to choose the casino that's not forcing their players whether new or old.
And when they do, they're making it sure that it has something to do with suspicious of the casino itself to the player that they're asking to comply. But usually, this rarely happens if you're not putting yourself into such suspicious activities on their platform.

[TimeTeller]

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.

Well, that's the same reason why government wants to regulate cryptocurrency. They want us to be protected from any fraudulent attacks and so they can track whose responsible for the fraudulent activities, and also not to mentioned the money laundering as well.
It's just sad that this kind of user protection defeats the purpose of cryptocurrency as a decentralised currency and anonymous.

Most of the crypto enthusiast hates the idea of KYC and regulations, but I guess we are heading that way fully in the next couple of years.

Unfortunately, crypto casinos need to follow the laws and regulations of their gaming license.
Though some are not asking KYC if they are not reaching their limits, but still, as a player, you always need to keep in mind that they can ask KYC anytime they deem necessary.
As a player, I would play and trust my credentials to the reputable casino rather than play in a casino with troubled history.
I guess, at the end of the day, it depends on the player what matters to him most. But if problem arises, you already know the chances of resolving your concern.

[Boristhecat]

kyc doesn't have any advantage when it comes to KYC on a site where the site's owners are anonymous, can you imagine who will guarantee that your documents will be safe? Why do you have to show your ID to someone who is anonymous?

You hit the point here Slow Death! So why would we go with KYC when the owners are anonymous? What's the point in that? From this we can only make one conclusion, KYC in crypto casinos is used to delay payments to people who wish to withdraw! It's usually when someone wins big, but there are cases when casinos ask people for KYC when they won something more from free money and they want to withdraw!
Well, I am avoiding that KYC, and I can't remember the last time I had to verify myself... simply when KYC becomes mandatory I simply move to other places!

You are doing everything right, I am doing the same. In short, there is no point in using cryptocurrencies and doing KYC at the same time. It turns out that this is even worse than playing in a simple fiat casino - at least it is under the control of regulators and the minuses are balanced by some pluses. Unfortunately, many gamblers are not fundamental and allow projects that require KYC to exist.