KYC on Gambling Business

[jcojci]

The rise of KYC in many casinos, even in well-known and reputable casinos, makes many gamblers feel that their playing time is almost over because those who previously did not need to do KYC are now forced to do KYC.

The casino argues that the selection of KYC for users is random and not based on anything. But still, the gambler who gets his turn to do KYC feels that he doesn't need to do KYC.

This also seems to be the case in crypto-based casinos as many of the casinos that previously didn't require KYC now do KYC randomly. And many of us complain about this, even though we know that casinos have written about KYC in their regulations. But still, we can't be free and calm in playing gambling, especially to withdraw the money.

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

And will this trigger crypto-based casinos that use wallet logins to develop better because they don't need to register as usual and only need to connect their wallets to the casino? Or do they also need to do KYC? Or for this type of casino can still be "forced" to do KYC?

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[Wiwo]

KYC compliance is becoming a must for most regulatory compliance casinos and we are going to see more of such casinos demanding KYC even before you gain access to your account as a new player in the future, just like what we see with exchanges like Binance we're a user must go through verification before being able to make a withdrawal or trade on the exchange. So similar situation will occur in casinos soon and we should not also forget that some casinos doot require KYC from players and that is clearly stated on their terms and conditions same with exchanges some do not require KYC but those set of services is becoming limited this day due to government climbing down on none KYC compliance services.

[nakamura12]

There is a reason why most gambling businesses requires KYC for their gamblers which is to avoid gamblers to use their platform for money laundering. It can be avoided in some cases but if the casino is suspicious of your activity then surely the casino will ask for KYC to clear their suspicion on you through KYC even though you didn't do anything wrong in the first place or rather you are just depositing on their casino and gamble.

[rhomelmabini]

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

And will this trigger crypto-based casinos that use wallet logins to develop better because they don't need to register as usual and only need to connect their wallets to the casino? Or do they also need to do KYC? Or for this type of casino can still be "forced" to do KYC?

I think it is, but as you've said if one after another these casinos are requiring individuals to do KYC then that's it or the player/s will just avoid playing with the casinos instead. There's no exceptions to this rule if the casino in the first place requires it. Well, that part has too many questions to be asked and debate to be tackle but in the first place the casino isn't saying it's mandatory nor the government.

For dApps I think they're not yet conquered by the KYC stuff but I think in the future the government will be eyeing these kind of casinos.

[Oshosondy]

The rise of KYC in many casinos, even in well-known and reputable casinos, makes many gamblers feel that their playing time is almost over because those who previously did not need to do KYC are now forced to do KYC.

Centralized casinos and other centralized gambling sites will always ask for KYC. If a gambling site have good reputation, having more members, regulators will concentrate more on the gambling site and the gambling site can make KYC compulsory for their users. There are still new gambling sites that do not require KYC, but do not be surprised tomorrow if they request all their customers to get verified on their gambling site.

The casino argues that the selection of KYC for users is random and not based on anything. But still, the gambler who gets his turn to do KYC feels that he doesn't need to do KYC.

Gamblers should only think they can not do KYC only on a decentralized gambling sites, but people prefer to use centralized gambling sites, no gamblers that is using a centralized gambling site should not expect the gambling site to request for KYC, the gambling site can request for KYC at anytime.

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

Take centralized exchanges as example, they are regulated, but there is a decentralized exchange called bisq which is very decentralized and no KYC needed, also are smart contract decentralized exchanges. Blockchain is decentralized, you do not need KYC for it, but if using a centralized exchange, the exchange can ask for KYC at any point in time.

And will this trigger crypto-based casinos that use wallet logins to develop better because they don't need to register as usual and only need to connect their wallets to the casino? Or do they also need to do KYC? Or for this type of casino can still be "forced" to do KYC?

People still prefer the centralized casinos.

[Jemzx00]

Unfortunately, as much as we don't like providing our identification on any gambling platform or any website at all. We must also think that the gambling platform we are playing on is a business which has to follow certain regulatory rules and laws from the country it is based from.

This situation could be unavoidable depending on the platform and how you interact with these platforms especially those who are using VPN and are living on a country that crypto and online gambling is banned. Some gambling platforms are not very strict in regards with KYC as long as they don't detect any unusual activity on your account whether it is VPN issue, Fraud issue, or even a possible log-in attempt on the account. However, there are some gambling platforms who are strict with KYC and some of them require KYC for withdrawal or any huge bet activity on the account.

[Hamza2424]

KYC is not real time big deal for the old users point is its being a trend every type project new / old are forcing the users to make KYC before use in 1 terms its good for security reasons to remove spams but on a side its dengrous as many Scam Projects conduct KYC and then sell users data in the black market that is a big concern for the users.

[Eureka_07]

<snip>

Since most crypto casino nowadays prefer to have license as it is what most of the players prefer too (assumingly). As far as I know, getting a license will lead the business to be regulated by a governing body. Because of that if you play on their platform, you'll have high chance to be asked for KYC specially if there are issues and suspicions to/from your casino transactions.

[FatFork]

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

Yes, unfortunately, the need for a KYC verification is unavoidable. In the future, all regulated casinos will require that you be KYC verified in order to withdraw money. Personally, I do not like the idea that my personal information is in the hands of some authority, who could connect my personal data to my gambling activities, as this would be an invasion of my privacy. I believe that this opinion is shared by many people in crypto community.

And will this trigger crypto-based casinos that use wallet logins to develop better because they don't need to register as usual and only need to connect their wallets to the casino? Or do they also need to do KYC? Or for this type of casino can still be "forced" to do KYC?

Ultimately, it's likely that a combination of both approaches will end up being used. Complete anonymity may be impossible as the centralized casinos and related companies require some level of individual identification to comply with KYC/AML laws. On the other hand, a blockchain-based platform might be able to provide a more private alternative for those who want complete anonymity in their transactions with the casino.

[virasisog]

Most casino sites nowadays require KYC for legit reasons. Its purpose is to protect its users as well as its site from abuse. If a reputable casino would ask for KYC, I don't think it's something that we should doubt because they wouldn't do such a thing just to disappoint their users. They will never ruin their reputation by asking for KYC that most users hate. They will only ask for it for our security and I believe that they will also protect our personal details.

[Daltonik]

Usually, a random KYC requirement is specified in the casino's ToS and you either have to measure against it or look for trusted casinos with more specific KYC requirements, for example, when withdrawing more than $10,000.

[ethereumhunter]

Nowadays, KYC has become a must in online casinos with the implementation of KYC in many casinos. Gamblers can no longer avoid and have to do KYC if they still want to gamble at the casino or when they want to make a withdrawal.

We as gamblers can only follow their rules and if we don't like it, we can look for another less strict casino in terms of KYC. But someday, some, if not all, casinos will require their members to do KYC because the casinos themselves are trying to follow the rules of the existing regulators.

[smartaction]

almost every gambling site ask KYC for transcation high amount of crypto from there gamblers users for avoid some illegal attempts like Money laundering . Also some gambling sites make kyc mandatory and sell kyc documents taken from customers on black market . so be carefull to do kyc verification . and Avoid new & untrusted gambling site to pass kyc verification

[|MINER|]

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I think this KYC verification undermines cryptocurrency's decentralized system.  Most of the good casinos require KYC verification for unusual activity or transferring large amounts of funds.  In this case, money laundering happens many times and this KYC step is taken to prevent it.  I think KYC verification is as important as it is a threat to users' data security, but if we carefully select good casinos, then our data will be secure. I think in future we will see more decentralised system in casinos like wallet connecting.

[jrrsparkles]

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

It is not possible to operate any company without obeying the rules of government so any company which physically exist somewhere in this world has to follow the regulations of their government and now every government is aware of cryptocurrencies are getting bigger especially in the gambling industry is the reason why they are bringing new laws according to that.

Maybe in future you will see a decentralized casino which just connect the wallet and operated on its own but the existing casinos are centralized and operated under the license has to take what the government ask them to do.

[suzanne5223]

The rise of KYC in many casinos, even in well-known and reputable casinos, makes many gamblers feel that their playing time is almost over because those who previously did not need to do KYC are now forced to do KYC.

As cryptocurrency is getting more exposure and traffic it should be expected that all crypto-related gamblers will implement KYC to prevent user manipulation and for the safety of the casino with the authority.

The casino argues that the selection of KYC for users is random and not based on anything. But still, the gambler who gets his turn to do KYC feels that he doesn't need to do KYC.

Not every casino do this and some casino which Roobet is among has some tier for KYC and users that are not comfortable with providing their private information to a casino can maintain tier 1.

This also seems to be the case in crypto-based casinos as many of the casinos that previously didn't require KYC now do KYC randomly. And many of us complain about this, even though we know that casinos have written about KYC in their regulations. But still, we can't be free and calm in playing gambling, especially to withdraw the money.

People complain about KYC implementation by the casino won't do anything because the casino can not operate outside the rules and regulations provided by their Master license holder and crypto payment processing gateway company.

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

Not all crypto is anonymous.
KYC can be avoided if you avoid the tier that requires private information or find another gambling site that's yet to implement KYC but the reputation and fairness of the casino game are also important.

And will this trigger crypto-based casinos that use wallet logins to develop better because they don't need to register as usual and only need to connect their wallets to the casino? Or do they also need to do KYC? Or for this type of casino can still be "forced" to do KYC?

I believe you're talking about casinos that supported web3.0 here but that doesn't mean things won't change in the future either.

[Jody.Drummer]

Back again to the portion and convenience of gamblers, because gambling is currently one of the largest financial generating platforms. Be it fiat or crypto gambling, everything will comply with the license. The KYC issue is now back on the surface, but I personally don't really extend the likes and dislikes back to the gambler. Rules are rules, only if you don't like KYC just go to a non-KYC casino. You control everything before betting any further.

I know most crypto gamblers don't like KYC, but nowadays casinos also have to adjust to the reputation and presence of government-detecting casinos. Then you will be given 2 options. First: the casino is closed or the second option is to follow and implement KYC to be free to operate. If we look at crypto casinos, they still give freedom and side to gamblers, namely with the rule that KYC requests will be requested when needed. Doesn't that sound wiser than registering right away and then you have to complete KYC to be able to play?

If so which position would you choose?

[348Judah]

The rise of KYC in many casinos, even in well-known and reputable casinos, makes many gamblers feel that their playing time is almost over because those who previously did not need to do KYC are now forced to do KYC.

if so then its a thing of choice, you keep on with the search for the non KYC ones, to be honest there's a lot to do away with in anything involving KYC, because the information they require do no good than future harm so why the need at first place.

The casino argues that the selection of KYC for users is random and not based on anything. But still, the gambler who gets his turn to do KYC feels that he doesn't need to do KYC.

its a lie just make gamblers register with their casino and later to introduce stage verification which is the KYC we are talking about just to unlock some functions.

This also seems to be the case in crypto-based casinos as many of the casinos that previously didn't require KYC now do KYC randomly. And many of us complain about this, even though we know that casinos have written about KYC in their regulations. But still, we can't be free and calm in playing gambling, especially to withdraw the money.

to avoid such surprises from casinos, always read their privacy policy and make your research about them to a resonable extent.

[Little Mouse]

Casino is a business with a license of the operating country. They must strictly follow the rules/regulations. It is very possible that people use casino for money laundering. In offline casino, it's the heaven for money launderer. So, casino owner are subjected to co-operate with the rules/laws so that they can't simply be used as a money laundering hub. Though I personally don't like to be KYCed, there's no other option when it comes to your turn. They are forced to ask players to go through KYC.

Is this unavoidable in crypto based casinos? Or are crypto gamblers also required to do KYC? If so, crypto can't be as anonymous as it used to be because we realize that today's governments have gone too far in controlling a person's identity and what they use the internet for.

The comparison is not appropriate because the anonymity of crypto and KYC has no relation. You aren’t required to go through KYC because of using crypto, rather you have been asked because they think you as suspicious or they have the rules to follow in their system.

[coolcoinz]

The casino argues that the selection of KYC for users is random and not based on anything. But still, the gambler who gets his turn to do KYC feels that he doesn't need to do KYC.

It doesn't change anything. People will be scared that if they refuse to do KYC a casino can hold their money.
Making it random only delays the inevitable. They should rather tell people that it's going to be required and gove them a month to provide documents or look for another casino, but they don't want to scare people right away and instead do random checks which are an obvious attempt to keep players who don't want to do KYC playing.