Do You Want KYC at Crypto Casinos During Registration?

[gantez]

My question to the Bitcointalk community is this one: if it were up to you, would you keep the current status quo and have crypto casinos brand themselves as no KYC, only to ask for identity verification during withdrawal requests or big wins, or would you rather be required to complete KYC during the registration process and decide there and then whether you want to do that or not?

The issue of KYC verification will always bring up an argument that some casinos have dubious characters and hiding behind the excuse of kyc to discourage customers from getting their money, while others will see the need to eliminate this constant arguments. I think it is best to have all casinos run kyc at the beginning registration process so that users of the platform they know exactly what they're getting into before they do to avoid funny stories later.

Facing the Kyc registration from the beginning is suppose to be better and not to keep quiet about it for a winner to be stressed because introducing the Kyc for withdrawal of their money. Some casino or exchanges have minimum of cash withdrawal that require Kyc but to be clear about it early is nice so players know what way to go.

The way the system is set up now, you are welcome to deposit and lose, but please don’t win. Because if you do, you could be thoroughly investigated.

The best is for the gamblers to check on the casino which is trusted and will not have issues to you when your winning start to come. Don't play in casino you don't get review from.

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[fathafraink]

If I have to do KYC without being able to skip it, then I prefer not to register, because this really disturbs my comfort, I have more respect for sites that don't require KYC, we know that there are online casino sites that don't require KYC, and provide bonus if doing kyc, then i prefer that.

[Pmalek]

I have more respect for sites that don't require KYC

But are you absolutely sure that is true for the sites you play on? Have you actually read their terms and rules, and does it say with certainty that there is no chance players will ever be required to undergo KYC? I would check again because it's probably mentioned they can ask you for it whenever they please. You aren't in the spotlight now, maybe you will be in the future...

[KTChampions]

...one can use fake docs or pay someone else to KYC for them...

Users of fake documents can be identified by requesting live video verification. If you are accessing a site from one part of the world but you provide the platform with IDs from someone on the other side, the locations can be used against you. If casinos wanted, they could implement security systems that don't work for VPNs for example. I have seen such platforms before. And if you can find a sucker willing to sell their identity for you to use it as you please, I guess you can call yourself lucky.  

Such "luck" and tricks can eventually turn into a big loss. As you wrote, the casino may require video verification of the identity, and even if there is a dummy who is ready to undergo verification for a moderate fee, he may not be in touch at the right time. In addition, he (his "identity") can get caught in some other case / casino and get into the database for a ban (I'm sure that there are such databases for many businesses that screen out fake verifications) and then you will lose your account and money.

[Warkop]

I have more respect for sites that don't require KYC

But are you absolutely sure that is true for the sites you play on? Have you actually read their terms and rules, and does it say with certainty that there is no chance players will ever be required to undergo KYC? I would check again because it's probably mentioned they can ask you for it whenever they please. You aren't in the spotlight now, maybe you will be in the future...

If it has been determined by the site, I am more likely to follow what has been determined by the gambling site, of course I will play with a gambling site that at least has everyone's trust, because all I know is that only exchange sites do that, the rest I honestly just found out about it, if the withdrawal of money is large and requires personal KYC data then there is nothing wrong, following the procedures on the site, even though we have to use live video, at least we can feel the money from our gambling winnings..

[Jemzx00]

I have more respect for sites that don't require KYC

But are you absolutely sure that is true for the sites you play on? Have you actually read their terms and rules, and does it say with certainty that there is no chance players will ever be required to undergo KYC? I would check again because it's probably mentioned they can ask you for it whenever they please. You aren't in the spotlight now, maybe you will be in the future...

It's funny that people will still believe those gambling platform that has front of "KYC-Free" "KYC not required" "No KYC". These gamblers are usually the people who would post more complaint about them not being able to withdraw as they can't do the KYC.

These are what these kind of casinos usually use for scamming and withholding them from on their own funds on the platform.

[lionheart78]

My question to the Bitcointalk community is this one: if it were up to you, would you keep the current status quo and have crypto casinos brand themselves as no KYC, only to ask for identity verification during withdrawal requests or big wins, or would you rather be required to complete KYC during the registration process and decide there and then whether you want to do that or not?

Please submit your votes in the poll, and share your thoughts below.

I voted for complete KYC upon registration.  I wanted to see a casino that is transparent with regard to KYC.  This requirement during the registration may hinder the Casino's progress because lots of players do not want to undergo KYC but having a KYC requirement during the registration will save the player from future troubles.  We all know some casinos use KYC to forfeit their players winnings, this kind of event will be avoided once KYC had been submitted even before the player are able to deposit.

It's funny that people will still believe those gambling platform that has front of "KYC-Free" "KYC not required" "No KYC". These gamblers are usually the people who would post more complaint about them not being able to withdraw as they can't do the KYC.

These are what these kind of casinos usually use for scamming and withholding them from on their own funds on the platform.

That is why instead of believing in their tagline of No KYC, we must always check their Terms and Condition and look for KYC if it is mentioned there.

[Zackgeno96]

It seems strongly that this is something that we can no longer ignore these days. Gamblers who play big will only play at gambling sites that are licensed so that they have a little more certainty about their money? Although a license from Malta doesn't mean much anymore, of course. Perhaps there is a handful of players who absolutely do not want to send documents for the KYC, for that group of players a completely anonymous casino would be a solution in itself. A while ago, when crypto gambling didn't even exist, I think you only had the KYC because anonymous casinos didn't even exist then. So gamblers who have been in the gambling industry for a while also know that the KYC has been used for a long time. But not only in gambling, also in other industries you see this increasingly common.

[Viscore]

I'd rather do it during the registration so I would know if I can comply with the requirements that they will be asking rather than do it during the withdrawal or deposit process where there will be a chance for them to hold my funds. There are already some casinos that ask for KYC during registration and as epr my experience, there's nothing wrong or risk on it as long as we are choosing right casinos with good reputation.

For me, it’s still a risk for us to give our personal information no matter how reputable or reliable a casino is. The fact that they can use it for other transactions if they really want to, then that would mean a loss for us. The reason why I stay away from casinos asking KYC, but if lucky enough to win such a huge amount, I guess i would have to comply with it than to lose my funds complete.

[chaser15]

If new sites, I will not comply with the KYC in the registration.

If currently on the site that I always played, I will have no doubt to undergo KYC if it is really necessary to do.

I'm already used to providing my personal details and documents on several platforms but only on a considered legit platform.

[uneng]

I'd rather do it during the registration so I would know if I can comply with the requirements that they will be asking rather than do it during the withdrawal or deposit process where there will be a chance for them to hold my funds. There are already some casinos that ask for KYC during registration and as epr my experience, there's nothing wrong or risk on it as long as we are choosing right casinos with good reputation.

For me, it’s still a risk for us to give our personal information no matter how reputable or reliable a casino is. The fact that they can use it for other transactions if they really want to, then that would mean a loss for us. The reason why I stay away from casinos asking KYC, but if lucky enough to win such a huge amount, I guess i would have to comply with it than to lose my funds complete.

Every databases connected to the internet are under risk of leaking. It is not an exclusivity of casinos, as even your government can leak your personal informations or sell it, as it has already happened in my country.

If anyday you are surprised by an accusation against you and you have no idea why it is happening to you, it could be that someone was using your ID for scam purposes. So, in hypothetical situations like this, that is what you have to justify, because in a globalized world it is out of our control that our IDs are kept safe.


Regards the main question on this thread, I have no problem in undergoing KYC process during the sign up or on the moment of the withdrawal, since it's clear on the terms and conditions that the casino may ask for KYC anytime as they wish.

[Strongkored]

Regards the main question on this thread, I have no problem in undergoing KYC process during the sign up or on the moment of the withdrawal, since it's clear on the terms and conditions that the casino may ask for KYC anytime as they wish.

If KYC appears at the beginning then the player has a chance to choose continue or not.
and when KYC appears during this withdrawal, it is often an obstacle for players to feel forced to do things they don't like.
Players should carefully read the T&C it is not necessary to read the whole at least things that could be an issue in the future should first be studied.

[AicecreaME]

As much as possible, I don't want to undergo KYC to protect my personal information. However, it's becoming more and more of a requirement that is mandatory to go through already. With that, it's also becoming harder to find a casino or gambling website that do not require KYC. Hence, people are settling to those casinos that has KYC despite they don't like it. I noticed that they just picked those casinos that have a good reputation. Perhaps this is to ensure that their personal information won't be sold to third party applications, platforms, or websites.

Just always remember to read the terms of service first before actually playing in a casino so that you won't be shocked about their processes such as in withdrawal that typically has KYC if the casino don't initially require it in signing up.

[Bitinity]

KYC during registration is a big no for me, I will not think twice to skip any casino that requires KYC on registration even if the casino is reputable and trusted by millions of users. I'm referring to full KYC where we need to upload our personal documents, but if the casino is just asking for something like name, birth of date, phone number, I'll give the casino a chance as long as it is reputable and I'm interested to play.

[Pmalek]

I'm already used to providing my personal details and documents on several platforms but only on a considered legit platform.

I shouldn't be preaching to others about what to do or not to do, but I would seriously re-think my stance of throwing around my identifiable data all over the place. Everything can seem legit until one day it suddenly isn't. Ledger was legit until the data of millions of users was hacked and publicly leaked. Celsius was legit and now every single user who had an account with them had their names posted publicly. Chances are high that those platforms (exchanges or casinos) you use have also experienced their own hacks and leaks at some point in the past or will experience them in the future. The less information about you is out there, the lower the chances that malicious actors can get to it. 

[Maestro75]

When you open a betting account, most casinos won’t ask you who you are.
When you want to deposit cryptocurrencies, you’re welcome to do so.
If you want to bet and play games, there usually aren’t any problems.
If you lose your coins and you wish to deposit more, no one asks you anything.
No one is called a cheater or a rule breaker when they are losing. There are no TOS infringements, either.

But if you start winning and win big, you soon become the center of attention. All of a sudden, it becomes important who you are, where you are from, the origin of your coins, and whether you have any ulterior motives for being here.

You just listed the major problems with casinos, and the many scam activities going on in them, correct. Most of the casino owners intentionally are setting up their businesses to defraud people, hiding under the cover of ToS. Everything you listed there is correct.

share your thoughts below.

I do not like casinos that ask for KYC. I like where I can move in and out freely. If I have KYC done on any, it will make me get attached to it and will cause me not to try others around. Casinos are gambling shops and gambling businesses often run into problems with government. What if this happens to the casino am registered with and the government decides to roundup its customers for investigations? This will also affect someone like me on that casino.

[Slow death]

giving KYC in the act of creating an account will not solve the problem, casinos can block the account of the person who made KYC when they created an account and they will ask for a document that proves where the funds come from, then the person creates an account and makes KYC and wins and then the casino will block the person and confiscate the person's money and then ask the person to deliver a document that shows where the money to deposit in the casino comes from, so KYC on account creation does not solve the problem

another thing is that KYC is created to prevent money laundering, but can't a thief create a casino and launder money? so why can the casino creator be anonymous and the customer can't be anonymous? This is a question I've been asking myself for a long time and honestly I can't understand it

[Pmalek]

another thing is that KYC is created to prevent money laundering, but can't a thief create a casino and launder money? so why can the casino creator be anonymous and the customer can't be anonymous? This is a question I've been asking myself for a long time and honestly I can't understand it

Physical casinos have and probably still are used for exactly this purpose. They are a great front to put dirty money into circulation and launder them. I watched documentaries years ago where old crime bosses explained how they created partnerships with casino owners in Montenegro to launder their through their establishments. I am sure that while we speak, someone somewhere is doing it right now. With the popularity of online casinos, it's even easier.   

[KTChampions]

giving KYC in the act of creating an account will not solve the problem, casinos can block the account of the person who made KYC when they created an account and they will ask for a document that proves where the funds come from, then the person creates an account and makes KYC and wins and then the casino will block the person and confiscate the person's money and then ask the person to deliver a document that shows where the money to deposit in the casino comes from, so KYC on account creation does not solve the problem

another thing is that KYC is created to prevent money laundering, but can't a thief create a casino and launder money? so why can the casino creator be anonymous and the customer can't be anonymous? This is a question I've been asking myself for a long time and honestly I can't understand it

Such crazy claims should be ruled out and the casino should be penalized for requesting such documents. If a person has passed the KYC, then this means "the end of the test" and no more additional requirements (otherwise, if he provides documents for the origin of the funds, will they ask for a certificate stating that he is a diligent Christian?). The origin of funds should be studied by the tax office, if the casino is a tax agent, then it must send data there, but not request any documents from the player.

[Jemzx00]

another thing is that KYC is created to prevent money laundering, but can't a thief create a casino and launder money? so why can the casino creator be anonymous and the customer can't be anonymous? This is a question I've been asking myself for a long time and honestly I can't understand it

Physical casinos have and probably still are used for exactly this purpose. They are a great front to put dirty money into circulation and launder them. I watched documentaries years ago where old crime bosses explained how they created partnerships with casino owners in Montenegro to launder their through their establishments. I am sure that while we speak, someone somewhere is doing it right now. With the popularity of online casinos, it's even easier.   

I've seen similar documentaries on different social media platform as well as tv shows where it explained that casinos are widely used as a way to launder money from different organizations. There are even illegal operations such as drugs that uses casinos as their front. Actually, some movies that depicts casinos as illegals fronts are and can be associated in real life. However, there are other businesses that are used as a front for money laundering but casino are quite common due to the amount that can be easily laundered.