KYC on Gambling Business

[decodx]

Man, you're a little wrong here (imo). Personally I don't want to do KYC for some offshore-registered services (90 % of casinos and book). And the reason is that such services has liability around zero , so if they get "hacked" or just sell their database to the third party, it will be near impossible to sue them.

I have no problem to do KYC with some services registered in trustworthy countries, like Bitstamp or bet365. But again, no KYC for offshore cunning rats!

I agree. I don't have a problem with KYC for payment services but I would argue that in the case of casinos and bookies it's not really necessary. KYC for casinos is generally done because the players might be using a fraudulent methods for gambling. And the surest way to protect casinos from cheating is to get some personal info and background check.

Casinos often claim KYC is required due to regulations and anti-money laundering laws, but that's not true. As far as I know, all AML laws and regulations apply to large transactions only. KYC for small transaction is normally not a requirement.

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[Slow death]

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.

most people buy cryptocurrencies precisely because they believed in this issue of privacy, anonymity, staying away from the control of governments, they felt free. but never expected that it was all an illusion. eventually KYC would knock on everyone's door. Casinos are following government laws, if they do not follow government laws then they risk losing their license and being held accountable for crimes. this is a situation where casinos have no choice. the same thing is happening with exchanges. another problem that this KYC created and that:

1 - the casino is anonymous and the owner of the casino is also anonymous

2 - customers must not be anonymous because they KYC at the anonymous casino where it has an anonymous owner

So we have a very unfair situation here.

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.

well, this point gave space for some casinos to be committing abuses such as:

Customer deposits 1000$ in the casino, hours later the customer wins 10,000$ and wants to make a withdrawal, but the customer is informed that he cannot make a withdrawal because he needs to make KYC due to suspicious activity

But I wonder:

why didn't the casino ask for KYC as soon as the person deposited 1000$? and if the person had lost the 1000$, would the casino ask for 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.

Casinos don't say they do random KYC, they say that when they detect any suspicious activity they ask for KYC, and as I said, that opens up space for casinos to abuse

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, this is unavoidable for crypto casinos and like any company that handles money

[Gozie51]

They do not want to see their customer use illegal money or money from illegal businesses. So they apply KYC to some gamblers, especially those who use big money. But the casino can randomly ask KYC to their customers because they can do anything with them.

KYC in the first place isn't a welcome development on crypto gambling business because it is revealing of the players personal identification and that is against what cryptocurrency decentralised system but if you are again suggesting random KYC for some of the players, it means the casino is already biased and selecting some players to reveal their identity. If they have questionable behaviour or suspect them, it doesn't require them to ask for KYC from them as it is against the system. I don't believe in casinos requiring KYC.

[adzino]

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?

Yes, it is unavoidable. You need license if you want to legally allow players of from different countries to gamble in your casino. The license will determine which countries you can serve based on the laws of that countries. Now if they want to keep their license, they will have to identify their customers based on some factors, hence KYC becomes somewhat mandatory.

It can be unavoidable if the casino never interacts with the fiat currency and keeps their identity hidden. But then again, the players will be at a huge risk.

[Rating Place]

Most crypto casinos don't ask for KYC when you deposit so you can throw the license excuse out the window. The only reason they ask for KYC is a reason to confiscate your money when you go to withdraw.

[abel1337]

Most crypto casinos don't ask for KYC when you deposit so you can throw the license excuse out the window. The only reason they ask for KYC is a reason to confiscate your money when you go to withdraw.

This is very true and I experienced it mostly after withdrawing a large amount of money from most of the casino. I think they base on the amount of winnings you have before they ask for KYC since whenever I withdraw with just small amount, They don't bother asking for KYC. They can easily throw the license excuse to you whenever you object or their TOS.

[jeremypwr]

The only reason they ask for KYC is a reason to confiscate your money when you go to withdraw.

Fortunejack is refusing to pay a reputable member a measly 10 mbtc.
Do you think FJ cares about 10 mbtc?
Of course not; they are only asking for KYC for regulatory purposes/abide by whatever laws they agreed to.
Kind of scary that someone with zero knowledge of how this works is claiming to know the #1 RATINGS of BITCOIN SPORTSBOOKS...

[lionheart78]

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.

There is a huge difference between a crypto casino and a cryptocurrency blockchain.  Cryptocurrency blockchain can be as anonymous as Monero or pseudonymous as Bitcoin and  does not have a centralized authority,while the crypto casino is a centralized company that is bound by the law of the country they are registered with. It wasn't the cryptocurrency that requires you to do the KYC but the Casino.  So the crypto blockchain is the same as it was before but centralized company isn't.  Or I might say, the crypto Industry is not as anonymous as it used to be.

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?

As long as there is a central authority in a casino and is registered in the government, they will implement KYC if the government required them to implement KYC.

[_act_]

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

This is never a fight, you explained it in a way that is not clear and you should admit that, I asked a question about what you post, just for understanding sake, all you just need is to perfectly give me the answer needed, it should not be about proving that you are right, we are still saying the same thing, that is what this forum is all about, to discuss and gain from each other, this forum should not be a place to prove that you are right when someone ask you a question and not against you in any way.

[coinerer]

Most crypto casinos don't ask for KYC when you deposit so you can throw the license excuse out the window. The only reason they ask for KYC is a reason to confiscate your money when you go to withdraw.

This is very true and I experienced it mostly after withdrawing a large amount of money from most of the casino. I think they base on the amount of winnings you have before they ask for KYC since whenever I withdraw with just small amount, They don't bother asking for KYC. They can easily throw the license excuse to you whenever you object or their TOS.

Yes mate, Lots of gamblers have the experience of falling into this kind of situation. Withdrawals are possible without any KYC when normally less amount is withdrawn. But KYC is required for higher amount withdrawals. I think if a gambler is gambling on a good site then it is better to do KYC to avoid this kind of situation.

[chaser15]

If OP is referring to legit fiat online casinos, it's not new already that KYC is being imposed there. Since these fiat casinos are regulated under the government branch or agency that deals with gambling, it's just common that KYC is being asked as part of protecting the users itself. In case of unusual behavior or scam attempt, at least, the culprits can tracked down easily.

Is it avoidable at crypto-casinos? Yes and we can see that most crypto-gambling sites didn't implemented yet a mandatory KYC yet. But in reality, since centralization is now reaching any crypto-industry including gambling, we might experience a mandatory KYC soon. Don't worry, it's not that KYC will be implemented right away at most crypto-gambling sites.

[uneng]

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.

Which casino argues that? I've never heard KYC is randomly asked to gamblers. As far as I know it's related to the volume of money you deposit and withdraw.

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's avoidable since you play at a casino which doesn't enforce KYC. There are few of them around in crypto universe. Anyway, crypto casinos in general don't ask majority of their players for KYC, because they don't gamble with large amounts of money, therefore they must be safe to gamble 'anonymously'.

[serjent05]

I think we need to read the TOS of every casino we signed up with.  If the TOS states that they may require their player to submit KYC in event that it is needed by the Casino then we should be ready to submit our documents anytime the casino asked for it. I think we don't have the right to whine about it because we had agreed on it in the first place.

[savetheFORUM]

As a crypto gambler, I do not want to see KYC on the casino because it feels not right to give my identity to the casino, which I do not use too often to play gambling. It will be different from the exchange to fill out KYC because I use exchanges to trade almost daily. Hence, if we compare it to the casino, I think it is unnecessary to verify our account with a completed KYC. Maybe if you are a gambler who uses big money to gamble, verifying your account is necessary because the casino wants to know who you are. They do not want to see their customer use illegal money or money from illegal businesses. So they apply KYC to some gamblers, especially those who use big money. But the casino can randomly ask KYC to their customers because they can do anything with them.

But, what if they require kyc at the beginning or during the signup process? But I bet you will skip them and look forward for another casino. You are lucky if you can play on a casino without submitting your kyc and can be able to withdraw but what if it's being ask by the time you withdraw?

It's either you will forget your money or comply to kyc. This is why it's important to always read the terms of a casino first so that we will know what to expect or we can also ask their customer support to clear things out. In the event they modify their terms without notifying their users then I think that was not fair and we can argue with it or report them in case we caught out in a sticky situations.

[erep]

Yes mate, Lots of gamblers have the experience of falling into this kind of situation. Withdrawals are possible without any KYC when normally less amount is withdrawn. But KYC is required for higher amount withdrawals. I think if a gambler is gambling on a good site then it is better to do KYC to avoid this kind of situation.

The KYC explanation should detail the withdrawal limits so we don't speculate how many withdrawal limits are required for KYC, the casino platform must also prioritize withdrawals below the limit due to privacy factors for many gamblers to withdraw funds according to the limits allowed for non-KYC accounts. There are many complaints about KYC because the TOS regulations for KYC are not specifically explained and argue that it is needed for suspected accounts and for high withdrawals above the limit.

[Hamphser]

Yes mate, Lots of gamblers have the experience of falling into this kind of situation. Withdrawals are possible without any KYC when normally less amount is withdrawn. But KYC is required for higher amount withdrawals. I think if a gambler is gambling on a good site then it is better to do KYC to avoid this kind of situation.

The KYC explanation should detail the withdrawal limits so we don't speculate how many withdrawal limits are required for KYC, the casino platform must also prioritize withdrawals below the limit due to privacy factors for many gamblers to withdraw funds according to the limits allowed for non-KYC accounts. There are many complaints about KYC because the TOS regulations for KYC are not specifically explained and argue that it is needed for suspected accounts and for high withdrawals above the limit.

Ive seen recently about KYC on having 4 levels but they dont indicate on how much is the threshold on every level which they should at least do make out some numbers to know the public so that they would be

aware or giving out some idea on how many information they should risk out for them to know on what they are tending to widthraw or something in related.

Its normal that these platforms will really be asking out since they are centralized or regulation which they dont have any choice but to imply it with their site terms and conditions
but at least there are some transparency for every information.

[johhnyUA]

KYC for casinos is generally done because the players might be using a fraudulent methods for gambling. And the surest way to protect casinos from cheating is to get some personal info and background check.

In this case, casino should register itself in trustworthy country, so I should know that casinos doesn't use fraudulent methods  
Otherwise I can't consider it as fair deal

Casinos often claim KYC is required due to regulations and anti-money laundering laws, but that's not true. As far as I know, all AML laws and regulations apply to large transactions only. KYC for small transaction is normally not a requirement.

Not only for the large one. For all transactions and for all users. Service must have database with KYC-ed clients.

[DoublerHunter]

Yes mate, Lots of gamblers have the experience of falling into this kind of situation. Withdrawals are possible without any KYC when normally less amount is withdrawn. But KYC is required for higher amount withdrawals. I think if a gambler is gambling on a good site then it is better to do KYC to avoid this kind of situation.

The KYC explanation should detail the withdrawal limits so we don't speculate how many withdrawal limits are required for KYC, the casino platform must also prioritize withdrawals below the limit due to privacy factors for many gamblers to withdraw funds according to the limits allowed for non-KYC accounts. There are many complaints about KYC because the TOS regulations for KYC are not specifically explained and argue that it is needed for suspected accounts and for high withdrawals above the limit.

^ I don't know what is the reason either when we won a large amount and why there is an increased level of KYC procedure.
You become a suspected account once you hit a big jackpot, or this casino trying to find a mistake so that you won't able to withdraw your fund. However, I did not generalize them all, there are still casinos that stick to their ToS. We should always read the ToS, because their site their rules to follow and users should always follow on it.

[Mate2237]

If KYC means to know your customer then it is better the casinos to know their customers so that they can track them if there is any issue. The casinos that were not doing it and now they doing it because they feel that it is better for them to know their customers gambling history of their platform. But it is not compulsory to use KYC in a gambling site it is a random choice.

[livingfree]

I think we need to read the TOS of every casino we signed up with.  If the TOS states that they may require their player to submit KYC in event that it is needed by the Casino then we should be ready to submit our documents anytime the casino asked for it. I think we don't have the right to whine about it because we had agreed on it in the first place.

And most of them have that rule that they may ask for compliance of supporting documents as part of their verification.

That means that almost casino now might ask their players for KYC if they intend to. But there are still some casinos that don't ask for it, if you're just a small time gambler.

Small amounts in deposits and withdrawals, they won't bother you. But in that case, you're anticipating it may happen to you any moment as you stay and play in any casino.