KYC on Gambling Business

[qwertyup23]

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?

KYC is a feature that was added in order to protect the gambling establishment. With the widespread and popularity of online gambling platforms due to COVID, governments of respective countries implemented stringent regulations in order to maintain their license. Though KYC may seem sketchy at first, just remember that these companies are somehow forced to do this in order to comply with the laws of their country.

If you think that KYC somehow defeats the purpose of anonymity, then choose a gambling platform that is somehow popular already in order to protect your identity. Remember, big gambling websites would never compromise your information as this would also destroy their long-term reputation that they built over the years.

[1714739676]

1714739676

[yahoo62278]

I don't see the big deal of kyc? You trying to avoid taxes? Underage? Gambling for an illegal jurisdiction? IMO those are the users who would likely have an issue performing kyc for a casino.

This isn't bitcoin from 2009 where kyc wasn't a thing. This is 2022 and governments are imposing sanctions and rules all over the place. These rules trickle down to gambling platforms as well as license providers.

[seoincorporation]

I don't see the big deal of kyc? You trying to avoid taxes? Underage? Gambling for an illegal jurisdiction? IMO those are the users who would likely have an issue performing kyc for a casino.

This isn't bitcoin from 2009 where kyc wasn't a thing. This is 2022 and governments are imposing sanctions and rules all over the place. These rules trickle down to gambling platforms as well as license providers.

I miss those old days when you don't even need an account to place a bet in the casino, the on-chain days.

The sites that uses KYC are those sites that have a license, but we have some sites that doesn't have a license and have been operating for years now. Sites like freebitco dot in and Just Dice. People trust in those sites even without a license because they are probably fair. If we can verify our bets then we can trust the site. If we can't verify our rolls then our only option is to trust on the casino license and the game provider. It's fun that the casinos where we can't verify our slots roll are the ones that we have to provide our personal information.

But you are right mate, now we are playing with different rules.

[famososMuertos]

Nowadays there are options to skip the KYC, although they are not always in the casino that we are looking for with the promotion that we want or simply the casino decided to update its terms and conditions.

I am not in favor of this type of regularization or control, but it is a necessary reality for the industry to grow, it is that simple, fortunately for the crypto betting niche there are crypto casinos that maintain the non-use of KYC, just be careful with the real crypto casinos that offer that feature, so no problem there are still quite a few and some very popular or renowned.

[Darker45]

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.

I don't think this is the prevailing practice among crypto casinos. I think there must be triggers for a certain gambler to be required to undergo KYC. If one has won the jackpot worth thousands of dollars, for example, it is possible that by the time he/she makes the withdrawal, the request would be manually processed and certain personal information would be asked. Or if a player's location is questionable, KYC could also be required. Other suspicious activities could also trigger KYC. So it's not randomly asked from the players.

[Nrcewker]

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.

Yes I have seen many popular casinos asks for KYC if and only if when they found suspicious activity in your account.
As long as you gamble normally, they won’t have the problem and they definitely did not ask the KYC from you.
Nevertheless I have been playing at Stake.com since their official launch and till now made thousand dollars of withdrawal and placed high bets also. Till now I haven’t done any KYC and was easily able to withdraw all my funds.
OP if you seriously need a casino where there is no strict rules regarding KYC, then definitely you can visit stake.com and also please read their terms and conditions before investing or betting any money.

[X-ray]

I guess it's not only in the gambling but in almost all of field related with the crypto. KYC is unavoidable. It's caused by any platforms must have complied with regulations. If your account is not being detective as a suspicious account and then you may not be asked to complete KYC verification but the bad thing is this kind of verification has been used by the platform to do shady things for its users. I meant what about completing KYC before try to play?
Some people may don't like it but yeah it may be massively adopted by whole of platforms. The only bad thing is im always seeing people being asked KYC after winning some bucks.

[Pandu Geddon]

KYC on gambling platforms I think is quite important. and that's not a problem I'm sure. this prevents some bad acts like money laundering. the same thing as CEX exchanges do.
I don't know what the OP's problem with KYC is. but if he takes KYC on a gambling platform I'm sure he has something that doesn't exempt him from playing or making withdrawals. such as underage.

[kotajikikox]

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.

there is one safe thing to gamble if you dont wanna go towards KYC and that is to Play in real casino houses that you can be denied of asking whom you are.

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.

then why still play in casino that ask KYC? there are other sites that does not ask for this lol.

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.

because crypto casino is also can be used for Money Laundering so they are just preventing these to be abused so lets go where it goes.

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?

casino can keep asking for KYC no matter what is the cause , this is their rights and this is our obligation as gamblers.

[tazmantasik]

Some time have good and bad impact when crypto casino gambling should pass KYC for withdrawing or make deposit before start gambling, many gamble choose casino cryptocurrency gambling because they want hidden identity to public, maybe if want upload document ID better choose with fiat or local casino gambling than cryptocurrency gambling. But another positive view with KYC keep away from fraud and cheater bonuses, some casino give bonuses for deposit and become way for cheater if not have to KYC.

[rojan]

~snip~

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.

In my opinion, almost all casino sites require kyc.  There are some casino sites that do not require kyc.  I don't use casino sites that require kyc.  I have no idea about kyc.  So I stay away from casino sites that require kyc  If I do kyc with my personal documents then I don't know if there will be any problems? I don't want to do problems.  So I stay away from kyc

[Strongkored]

There are some casino sites that do not require kyc.  I don't use casino sites that require kyc.  I have no idea about kyc.  So I stay away from casino sites that require kyc  If I do kyc with my personal documents then I don't know if there will be any problems? I don't want to do problems.  So I stay away from kyc

KYC is hated much but also for some important things such as to prove the validity of the account ownership at the casino this can helpful and sure if the casino could choose they would prefer not to mandatory the KYC but the regulations of the license make them mandatory that.

[bitterguy28]

Some time have good and bad impact when crypto casino gambling should pass KYC for withdrawing or make deposit before start gambling,

it is rare towards casino  that ask KYC for depositing because  mostly it is applied when withdrawing because we knew that it is used for questioning the players activity .

many gamble choose casino cryptocurrency gambling because they want hidden identity to public, maybe if want upload document ID better choose with fiat or local casino gambling than cryptocurrency gambling.

it is our prerogative mate because casino houses does not force us to play for them , instead we are free to choose where to play.

But another positive view with KYC keep away from fraud and cheater bonuses, some casino give bonuses for deposit and become way for cheater if not have to KYC.

exactly , that is the betterment of casino that ask for KYC because we are free from scam and also our details are safety.

[Rating Place]

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?

You cannot stop or decline to do a KYC as long as you see a license certificate on the site, license certificate is being issued with all the attachments of compliance on it they are not just certificates or numbers, you cannot run an online business that can generate hundreds of thousands or millions without getting into the radar of the authorities, there's legality that these casinos are adhering, there are casinos that took the risk to not ask KYC, but they are always in the risk of getting shut down and you would not want to play on this kind of casinos if high rollers can do KYC what is it that you cannot when KYC is there to prove individuals are not into illegal activity.

Some casinos in Costa Rica and Curacao don't do KYC at all. Some only require a small portion of players to comply to KYC.

[Peanutswar]

Some of the gambling casino supported the use of the KYC because this is another security layer for the user at the same time but of course it is a crypto currency many players would like to make themselves anonymous but having a KYC is one of the way to make sure they are not real player and not just using a bot also most of the time it require for withdrawals for large amounts. Still this kind of thing is just not mandatory to the players and still a personal preferences.

[Don Pedro Dinero]

Tough shit.

What needs to be done is to adapt. It is rare nowadays to use sites where money is moved and not have to do KYC, even at a basic level. Casinos have been imposing more and more KYC and the only thing we can do is to be aware of it and act accordingly.

There are still a few casinos that do not require KYC, but if those casinos impose KYC in the future, there is nothing we can do about it, as fiat casinos require KYC, both land-based and online.

[_act_]

almost every gambling site ask KYC for transcation high amount of crypto from there gamblers users for avoid some illegal attempts like Money laundering .

There is no other reason a gambling site is requesting their customers to do KYC than for anti-money laundering and other online criminal activities, I do not see it as anything wrong for gambling site to ask customers for KYC as long as the customers have no skeleton in their cupboard, they should not see offensive.

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

I do not understand this, you mean gambling site will help their customers in black market to provide KYC? I doubt that, only a scam gambling site can do that, but a scam gambling site would look for ways their victim would find easy to deposit rather than KYC issues or stories

But we should avoid fake verification, even on reputable gambling sites.

[FatFork]

People trust in those sites even without a license because they are probably fair. If we can verify our bets then we can trust the site.
<cut>

Probably fair? I'm sure you meant provably fair. 

The trustworthiness of a casino sites is not necessarily directly related to whether their games are provably fair or not. Rather, trustworthiness is related to their reputation, which is built up over time. A provably fair mechanism may ensure that players are betting on games that are fair, but that does not mean that the casino can't deceive them and refuse to honor their winnings. This is especially true for new casinos that have yet to establish a good reputation in the gambling community. So, it is important for prospective bettors to look at the reputation of the casinos and verify that they have a history of fair play and then check out their games if they are provably fair, or else to avoid dealing with casinos that lack that reputation.

[smartaction]

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

I do not understand this, you mean gambling site will help their customers in black market to provide KYC? I doubt that, only a scam gambling site can do that, but a scam gambling site would look for ways their victim would find easy to deposit rather than KYC issues or stories

But we should avoid fake verification, even on reputable gambling sites.

I think you just woke up so your eyes are blurry . Here I have clearly stated that some scam gambling sites they collect kyc documents from their customers and sell it in black market for complete some illegal works. I have not said anything difficult here which may be difficult for you to understand

[rodskee]

Tough shit.

What needs to be done is to adapt. It is rare nowadays to use sites where money is moved and not have to do KYC, even at a basic level. Casinos have been imposing more and more KYC and the only thing we can do is to be aware of it and act accordingly.

that is what exactly the point here , why people still make this an big issue when it is given that once there is a Money flow then there should be a security or as we called KYC . and if you are not willing to deal with it then best to find other place to do your things that is a common way of treating these kind of people.
they wanted to deposit and withdraw without anyone noticing them? that is a complete BS for me.

There are still a few casinos that do not require KYC, but if those casinos impose KYC in the future, there is nothing we can do about it, as fiat casinos require KYC, both land-based and online.

actually they are not imposing according to their TOS but I believe that once in a while? if they find inappropriate activities for the said account? then surely they will send the players for KYC .