Zero KYC tolerance gambling platforms

[darkangel11]

The guy that you quote has a valid point as the use of KYC besides KYC on casino is being done with 3rd party KYC company for a secure data storage. This company has global license to do this kind of job to make the privacy of the user safe. Casino nowadays is complying to the regulators for safety of there consumer. Casino now are already evolved to a fully compliant to the law unlike before that is just a bunch of casino that owned by unknown without any license.

Is there a casino news that KYC credentials being leak? Even on big exchange? The only thing that this happened is on mediocre casino that doing KYC by there own service.

If it's done by a third party the risk is lower, but do all casinos nowadays do it this way? I don't think so. When you start playing at a casino, do you check whether KYC is done through a third party? I sure don't bother. I'm more interested in how much I can withdraw without having to submit any information.


I haven't heard of a casino leak, but do we really need one to understand how risky it is? It's like with holding coins on exchanges. You don't want to get caught in a bankruptcy with your coins frozen and you don't need a proof that it can happen. You just know it.

Read this:
https://bitcoinmagazine.com/business/probably-the-largest-kyc-data-leak-in-history-demonstrates-the-importance-of-bitcoin-privacy

As much as 8.2 terabytes of personal information data has allegedly leaked from users of India-based MobiKwik mobile payment’s wallet application and onto the dark web, according to a report from India Times.

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[samuraijin]

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

Submitting to KYC requirement will never bring harm for us if we analyze it deeply. In fact, this is more for our own good and security when it comes to our money. KYC is designed to reduce fraud and that money laundering is always included in it. So while others are still looking for KYC-free platforms, its better to accept the reality that in less than a year, all gambling institutions will make KYC as mandatory.

You're joking, right? Have you ever heard of data leaks? There was one where bitcointalk accounts were stolen a few years back and people were able to buy them on the dark web.
There was a big leak from facebook as well. And we're talking only about accounts, passwords, emails. In case of a casino KYC you're losing all your private data, your address, sometimes names of your parents, the number of your document, your nationality and this gets all linked to your crypto addreses that you use to deposit. With that it's easy to find you on other social platforms, here on bitcointalk where you reuse your addresses... If that gets leaked you're fucked.

The guy that you quote has a valid point as the use of KYC besides KYC on casino is being done with 3rd party KYC company for a secure data storage. This company has global license to do this kind of job to make the privacy of the user safe. Casino nowadays is complying to the regulators for safety of there consumer. Casino now are already evolved to a fully compliant to the law unlike before that is just a bunch of casino that owned by unknown without any license.

Is there a casino news that KYC credentials being leak? Even on big exchange? The only thing that this happened is on mediocre casino that doing KYC by there own service.

As far as I know, doing Kyc on several casino or exchange sites is only for withdrawing and depositing your funds when you want to play at a casino or trade, if there is a leak in our data system, is it possible that it was caused by gambling or trading sites, in my opinion it is not valid to serve as a site to leak someone's data, but negligence on our part, it could be without us realizing that we have done something that made our data leak out, such as participating in Airdrop or promotions that do KYC, because there are very rare cases leaks on gambling sites and trading sites..

This is just my speculation only !!

[Piesel]

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

There is nothing like zero KYC casino, and even though some site claim to be none KYC which is not true because at some point, their will still ask for kuc especially when your winning price is big and your want to withdraw an amount greater than $5000 at once.

Also, some ask for KYC when there is suspected system abuse from a player.

[Alisha-k]

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

There is nothing like zero KYC casino, and even though some site claim to be none KYC which is not true because at some point, their will still ask for kuc especially when your winning price is big and your want to withdraw an amount greater than $5000 at once.

Also, some ask for KYC when there is suspected system abuse from a player.

It is quite understandable if crypto casino demand for KYC when huge prices are won for accurate documentation, Money Laundering prevention and fraudulent attempts. But i don't know if Crypto Casinos that are completely decentralize ask for KYC when a user abuses the system or cheats. KYC within this casinos is just reserved for Deposit and withdrawal of big gains.

[piebeyb]

therefore appear some decentralized casinos that do not require KYC on their sites and in the end it will also be a competitor of casinos that implement KYC , I also think there is no problem with that as long as the casino site does not abuse our identity and of course it's a trusted casino, but everything back again to the wishes of the gambler himself choose to live the existing reality or avoid it

We should be able to find a casino that can protect our identity well if we play at a casino that requires KYC.
But if we move to a decentralized casino, we have to be extra careful because we are using our wallets to gamble.
And some gamblers don't mind casinos requiring KYC because they may play there more often.
In addition, they also use more money than us, who only use small money.

if we play a decentralized casino if we use a blockchain network that costs a lot I think it will cost money every time to make a bet and of course we only play connected to their smart contract so even though their casino site is not accessible maybe we can still withdraw money we went through their smart contract but it looks complicated for newbies, it all comes back to everyone's wishes if they don't mind KYC no problem as long as the casino is trusted and of course our money will also be safe there

[CryptoYar]

if crypto casino demand for KYC when huge prices are won for accurate documentation, Money Laundering prevention and fraudulent attempts. [...]

Despite this KYC verification, they have not been able to prevent it.

Let's take a look at the USA. "In the U.S., roughly $300 billion is laundered each year"

2% to 5% of the world's GDP is being laundered. "Between 2% and 5% of the world’s total GDP is lost to money laundering each year.
" Source

So KYC is useless in my opinion.

[khaled0111]

if we play a decentralized casino if we use a blockchain network that costs a lot I think it will cost money every time to make a bet and of course we only play connected to their smart contract so even though their casino site is not accessible maybe we can still withdraw money we went through their smart contract but it looks complicated for newbies, it all comes back to everyone's wishes if they don't mind KYC no problem as long as the casino is trusted and of course our money will also be safe there

That's correct. The good thing about dapps and smart contracts is that even if for some reason the website cease to exist or the team dissappear you still can withdraw your coins by interacting directly with the smart contract. The drawback is the excessive fees you have to pay for each transaction and the waiting time for its confirmation. This explains why decentralized casinos and blockchain games do not exist anymore.
Also, you can't develop very interactive games if they are going to be based on smart contracts.

[Hamphser]

if we play a decentralized casino if we use a blockchain network that costs a lot I think it will cost money every time to make a bet and of course we only play connected to their smart contract so even though their casino site is not accessible maybe we can still withdraw money we went through their smart contract but it looks complicated for newbies, it all comes back to everyone's wishes if they don't mind KYC no problem as long as the casino is trusted and of course our money will also be safe there

That's correct. The good thing about dapps and smart contracts is that even if for some reason the website cease to exist or the team dissappear you still can withdraw your coins by interacting directly with the smart contract. The drawback is the excessive fees you have to pay for each transaction and the waiting time for its confirmation. This explains why decentralized casinos and blockchain games do not exist anymore.
Also, you can't develop very interactive games if they are going to be based on smart contracts.

Decentralized is always been preferred due into its security but we cant really deny that it does have its con's which you had mentioned about fees and confirmation which is something that we dont really like

when we do gamble which means that we would really be sticking into those centralized stuff.Yes, it does really compromise that total anonymity and full control but we cant really just avoid
to stick on it because of the convenience that it gives.Well, it does mean that it do really have its cons but people wont care nor matter as long it do really give out that kind of
non hassle experience when it comes to playing gambling which they wouldnt really be having some headache.In speaking with KYc then it turns out that this had become the
standard of todays or simply it is something which is really that inevitable to happen once you do touch up regulated platforms.

[delfastTions]

if we play a decentralized casino if we use a blockchain network that costs a lot I think it will cost money every time to make a bet and of course we only play connected to their smart contract so even though their casino site is not accessible maybe we can still withdraw money we went through their smart contract but it looks complicated for newbies, it all comes back to everyone's wishes if they don't mind KYC no problem as long as the casino is trusted and of course our money will also be safe there

That's correct. The good thing about dapps and smart contracts is that even if for some reason the website cease to exist or the team dissappear you still can withdraw your coins by interacting directly with the smart contract. The drawback is the excessive fees you have to pay for each transaction and the waiting time for its confirmation. This explains why decentralized casinos and blockchain games do not exist anymore.
Also, you can't develop very interactive games if they are going to be based on smart contracts.

Of course, the development of such smart contracts is extremely complex and time-consuming. 
And by the way, the price of devs errors is very high.  Even small bugs can completely ruin the whole game.  But I think that the topic of developing such games is very relevant and someone will definitely work in this direction.  First of all, because many millions of people are disgusted that some centralized services, such as online casinos, constantly require KYC. 
And even those casinos that did not require verification before, comply with the requirements of regulators and gradually more and more of them require KYC.

[danadc]

if we play a decentralized casino if we use a blockchain network that costs a lot I think it will cost money every time to make a bet and of course we only play connected to their smart contract so even though their casino site is not accessible maybe we can still withdraw money we went through their smart contract but it looks complicated for newbies, it all comes back to everyone's wishes if they don't mind KYC no problem as long as the casino is trusted and of course our money will also be safe there

That's correct. The good thing about dapps and smart contracts is that even if for some reason the website cease to exist or the team dissappear you still can withdraw your coins by interacting directly with the smart contract. The drawback is the excessive fees you have to pay for each transaction and the waiting time for its confirmation. This explains why decentralized casinos and blockchain games do not exist anymore.
Also, you can't develop very interactive games if they are going to be based on smart contracts.

Of course, the development of such smart contracts is extremely complex and time-consuming. 
And by the way, the price of devs errors is very high.  Even small bugs can completely ruin the whole game.  But I think that the topic of developing such games is very relevant and someone will definitely work in this direction.  First of all, because many millions of people are disgusted that some centralized services, such as online casinos, constantly require KYC. 
And even those casinos that did not require verification before, comply with the requirements of regulators and gradually more and more of them require KYC.

Guys I have a friend who programs a lot and knows about smart contracts, he sometimes calls me because he is in Spain and doesn't work with that but he has done many courses and even with google, he has a lot of knowledge and knows how to program contacts, and He also understands them and knows when there are people who want to take advantage of others with the same thing, he is nothing more than saying and I can leave them his telegram, he tells me that there are many crooks who always want to take advantage of people to carry out their thefts and swindle them, he is able to unmask them, that is what he has told me, just in case any casino has problems because they have a key chip that can help them.

[Obari]

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

KYC is very important to crypto gambling over the years now and not just crypto gambling but gambling in general so as to enhance transpacific behavior of user in their casino and also avoid and prevent money laundering in any form on their casino.

KYC was also induced as a form of regulations mostly by the gambling board to help track the identity of players who are suspected of an criminal activity on the casino.

It is true that some gamblers if no majority of gamblers would prefer to stay anonymous while playing games so as to feel safe and more confident but the truth is that, most of this casinos will never review your identity to anyone without your consent.

[serjent05]

Is KYC verification very important to crypto gambling websites or this has something to do with their regulations rule? Where can one gamble with zero verification requirements?

KYC is very important to crypto gambling over the years now and not just crypto gambling but gambling in general so as to enhance transpacific behavior of user in their casino and also avoid and prevent money laundering in any form on their casino.

KYC was also induced as a form of regulations mostly by the gambling board to help track the identity of players who are suspected of an criminal activity on the casino.

I understand what you are pointing out, KYC is the tool for casino to verify their users and check whether each account created on the platform is unique individuals.  That is the casino ways of establishing any valuable proof if things like hacking, cheating, bugging, or exploitation via multi-accounting are suspected in an account

It is true that some gamblers if no majority of gamblers would prefer to stay anonymous while playing games so as to feel safe and more confident but the truth is that, most of this casinos will never review your identity to anyone without your consent.

Anonymous gambling had been popular because of the implementation of cryptocurrency into the gambling platform and the creation of cryptocurrency Casinos.  Originally, Online Casinos implement KYC because they connect the player's banking account or any financial institution to the casino and they need to verify if the owner of the account is the actual owner of the cards used for gambling.

Of course, the development of such smart contracts is extremely complex and time-consuming. 
And by the way, the price of devs errors is very high.  Even small bugs can completely ruin the whole game.  But I think that the topic of developing such games is very relevant and someone will definitely work in this direction.  First of all, because many millions of people are disgusted that some centralized services, such as online casinos, constantly require KYC. 
And even those casinos that did not require verification before, comply with the requirements of regulators and gradually more and more of them require KYC.

True that is why most casino owner prefer to use centralized casino because the security of this kind of casino is already established.  While decentralized casino is still in a testing phase and the technology isn't full furnised since there are lots of bugs and glitches in the system.  We can prove it by looking at its DeFi platform counterparts where hacking is almost a normal event.

[BitcoinAccepted]

There are still a few casinos that do not charge KYC. If you are on a gambling site that is not licensed by Malta, Curacao or any other reputable jurisdiction, there is a good chance you can play without KYC. If you are on a gambling site licensed by MGA or Curacao, rest assured that a check is necessary as the licensing providers require it. The rules have been tightened up considerably in recent years, I have read, so in fact gambling sites have no other choice. We would all prefer to play without KYC, but that is a thing of the past. There are also sites where you have to account for your entire wealth.

[stomachgrowls]

There are still a few casinos that do not charge KYC. If you are on a gambling site that is not licensed by Malta, Curacao or any other reputable jurisdiction, there is a good chance you can play without KYC. If you are on a gambling site licensed by MGA or Curacao, rest assured that a check is necessary as the licensing providers require it. The rules have been tightened up considerably in recent years, I have read, so in fact gambling sites have no other choice. We would all prefer to play without KYC, but that is a thing of the past. There are also sites where you have to account for your entire wealth.

As regulation and laws are becoming more tighter then it wont really be that surprising if these non-kyc casinos or any platforms which are involved with or attached with crypto transactions then it would really be that

understandable that they would really be going on that way.Yes, we do have still casinos nowadays which doesnt have licenses but surprisingly they are able to get sufficient number of users or simply get that

marketshare.People do really give out the importance of total anonymity when they do play gambling but somewhat we do know on whats the exchange for that pros which on the case if the house
do rans away then there's no way of tracing it out.

[erep]

There are still a few casinos that do not charge KYC. If you are on a gambling site that is not licensed by Malta, Curacao or any other reputable jurisdiction, there is a good chance you can play without KYC. If you are on a gambling site licensed by MGA or Curacao, rest assured that a check is necessary as the licensing providers require it. The rules have been tightened up considerably in recent years, I have read, so in fact gambling sites have no other choice. We would all prefer to play without KYC, but that is a thing of the past. There are also sites where you have to account for your entire wealth.

There are several regulations from leading licensing jurisdictions that have been tightened to verify user data on each gambling platform so that KYC rules have been officially added to the terms and conditions in gambling, but only some gamblers refuse KYC regulations for privacy reasons but other gamblers have no problem with KYC because works to avoid money laundering and other crimes, KYC regulations are not a problem for gamblers if we use top gambling platforms that have been recommended in forums. I recommend avoiding gambling platforms that offer zero KYC because they are not licensed by official jurisdictions so the reputation of the gambling platforms is very low and our account assets are not guaranteed to be protected safely.

[noormcs5]

There are still a few casinos that do not charge KYC. If you are on a gambling site that is not licensed by Malta, Curacao or any other reputable jurisdiction, there is a good chance you can play without KYC. If you are on a gambling site licensed by MGA or Curacao, rest assured that a check is necessary as the licensing providers require it. The rules have been tightened up considerably in recent years, I have read, so in fact gambling sites have no other choice. We would all prefer to play without KYC, but that is a thing of the past. There are also sites where you have to account for your entire wealth.

There are several regulations from leading licensing jurisdictions that have been tightened to verify user data on each gambling platform so that KYC rules have been officially added to the terms and conditions in gambling, but only some gamblers refuse KYC regulations for privacy reasons but other gamblers have no problem with KYC because works to avoid money laundering and other crimes, KYC regulations are not a problem for gamblers if we use top gambling platforms that have been recommended in forums. I recommend avoiding gambling platforms that offer zero KYC because they are not licensed by official jurisdictions so the reputation of the gambling platforms is very low and our account assets are not guaranteed to be protected safely.

There are some more reasons other than the privacy ones, that gamblers do not want to do the KYC on the gambling site. There s no grantee that your KYC data is secured on the gambling site and they could misuse your data or even sell it to third parties and get good money out of it

I understand that government want regulations and impose the KYC but what steps they did took to ensure the safety of this data by the sites ?
I think government should be more concerned about it and introduce strict rules for the safety of people's data.

[erep]

There are some more reasons other than the privacy ones, that gamblers do not want to do the KYC on the gambling site. There s no grantee that your KYC data is secured on the gambling site and they could misuse your data or even sell it to third parties and get good money out of it

I understand that government want regulations and impose the KYC but what steps they did took to ensure the safety of this data by the sites ?
I think government should be more concerned about it and introduce strict rules for the safety of people's data.

I hope the jurisdictions monitoring user data have completed KYC verification on each partner of the gambling platform, they must ensure user data is protected safely and pressure the gambling platform team not to misuse user KYC data. However, we expect the role of the government to punish if any perpetrator has misused user KYC data for criminal purposes and even sold data anonymously on the black market web.

[CryptoHeadlineNews]

There are some more reasons other than the privacy ones, that gamblers do not want to do the KYC on the gambling site. There s no grantee that your KYC data is secured on the gambling site and they could misuse your data or even sell it to third parties and get good money out of it

I understand that government want regulations and impose the KYC but what steps they did took to ensure the safety of this data by the sites ?
I think government should be more concerned about it and introduce strict rules for the safety of people's data.

I hope the jurisdictions monitoring user data have completed KYC verification on each partner of the gambling platform, they must ensure user data is protected safely and pressure the gambling platform team not to misuse user KYC data. However, we expect the role of the government to punish if any perpetrator has misused user KYC data for criminal purposes and even sold data anonymously on the black market web.

You really have a brilliant idea here, but these can only be implemented in a country whose law is implemented as clearly started in the constitution, unlike most countries where corruption is the order of the day in mostt high government offices, that authorize exchange to sell our data without the peoples knowledge

[AmoreJaz]

There are some more reasons other than the privacy ones, that gamblers do not want to do the KYC on the gambling site. There s no grantee that your KYC data is secured on the gambling site and they could misuse your data or even sell it to third parties and get good money out of it

I understand that government want regulations and impose the KYC but what steps they did took to ensure the safety of this data by the sites ?
I think government should be more concerned about it and introduce strict rules for the safety of people's data.

I hope the jurisdictions monitoring user data have completed KYC verification on each partner of the gambling platform, they must ensure user data is protected safely and pressure the gambling platform team not to misuse user KYC data. However, we expect the role of the government to punish if any perpetrator has misused user KYC data for criminal purposes and even sold data anonymously on the black market web.

You really have a brilliant idea here, but these can only be implemented in a country whose law is implemented as clearly started in the constitution, unlike most countries where corruption is the order of the day in mostt high government offices, that authorize exchange to sell our data without the peoples knowledge

this is why it is always advisable to just submit kyc if it is indeed necessary. some casinos here don't require kyc even if it is stated on their terms. however, you should always be ready in case they ask for it. but as much as possible better play and spend significant amount of wagering funds in a reputable casino. so in case they need kyc, you won't feel that they are just asking it for nothing.

[traderethereum]

this is why it is always advisable to just submit kyc if it is indeed necessary. some casinos here don't require kyc even if it is stated on their terms. however, you should always be ready in case they ask for it. but as much as possible better play and spend significant amount of wagering funds in a reputable casino. so in case they need kyc, you won't feel that they are just asking it for nothing.

Maybe those who don't want to do KYC should strictly limit their use of money for gambling and not do anything that would raise the suspicions of the casino against them.
Never gamble with a lot of money if you are not prepared for the risk behind it.
And try to play at a reputable casino so that if you have to do KYC, your data will be safe with them.
And you also have to be prepared to do KYC in the future because this is probably what all casinos will do if the regulators force them to do it for all their users.