Unpopular opinion about crypto gambling

[rozak]

The goal is to know you, to know the customer, the most important thing is for safety, to keep the platform safe if the platform is safe then we are all safe too and comfortable playing anything. Crypto gambling at first also non KYC we were free but over time, this industry was highlighted as part of money laundering, the fault maybe casinos so KYC is needed to anticipate it.

you are right, everything develops according to the development and needs of the market. including crypto casinos which currently require more KYC to protect our assets.

Besides, if you don't like KYC, I think there are crypto casino options that don't require it. like an exchange, we can choose CEX or DEX.

[Darker45]

Well, that's what the government regulators require from them. It is their obligation; they're bound to abide with it. That's not a matter of choice; that's a matter of legal requirement. Their license to operate is tied with it. So they cannot say no to it. And while it may be stupid from a certain viewpoint, it certainly isn't from the point of view of law enforcement authorities. After all, gambling is one hot choice for money launderers to do their thing.

[robelneo]

Making such statements is stupid. Make me change my mind. Why? Just Why? 

I like his way to get his message across, plain and simple with a picture attached to it, going back to the subject, its something that the casino should do so they can retain their license and not be targetted by the regulators, you know we are dealing with money here and many money launderers in the past are using casinos to launder money and KYC is a mean to know if you're legit to play on their casino because online casinos have no way to know who are the legal ones to play because everything is all usernames, compared to physical casinos that they can easily tell if you're legal to play.

[rhomelmabini]

Guys relax, the thread is involving sarcasm and to be honest it's already on the thread - it's an unpopular opinion . Just look at the bolded word.

For me it seems so but there are platforms out there that doesn't require such and in my gambling of crypto in years, I haven't been asked any thorough KYC that may involve sending them your documents. Never. It's really up to the individual if he goes through KYC on that casino and you can't change that if it's on their T&C and required on their casino's jurisdiction.

[ethereumhunter]

It's okay if you think it's stupid because other people will think differently from you and that's normal. But if someone is gambling using crypto for a small amount of money, I guess that's also okay, even if the casino asks for KYC for all its members. Also, people can find the right casino for them and it's not based on whether the casino has KYC or is not being too strict in terms of KYC. But nowadays, there are still casinos that don't apply KYC for their casinos and they ask for KYC randomly so that people can still gamble in that casino.

[Saisher]

There are hardly any Cryptocurrency casinos that will not ask you to do KYC, its an industry practice and they don't want to be targeted by authorities and regulators of course its part of the terms when they get a license, but I cannot convince you that it's stupid to do KYC in Cryptocurrency casinos, all I can say is you are naive and ignorant because it's part of all casinos terms whether old and new casinos if you want to play on them.

[gunhell16]

KYC in most of the trusted and reputable casinos is only involved when you win a huge amount of money,they don't ask you for KYC when you deposit a huge amount of money which I think they should as whales should be known who they are to the platform.

For other people that are normal average gamblers that play there no KYC is involved as long as the amount withdrawn is not significant.So as long as you don't want KYC play with little money or if you want to go all in then KYC is mandatory in order to avoid problems later which may arise because of huge amount withdrawals requests.

I agree with what you say Sir, and this is what other gamblers don't understand, they only think about themselves. Then the logic is there, of course as a gambler if you don't want a casino that asks for KYC, don't play there, find another casino that doesn't have KYC, it's that simple.

The problem is for others, misunderstand that getting KYC on a gambling platform takes away their rights as a gambler. Of course, that's not the case, in fact, it's even for the security of the assets we have on their gambling platform here in cryptocurrency.

[YOSHIE]

I don't think all online gambling site platforms implement KYC, I don't think anyone is forcing someone to bet on online crypto gambling sites, it's purely individual's will, choice.

Why ? Just why ?

Everyone who gambles has different thoughts and opinions, different understandings, some of us think KYC is unprofessional and too stupid to share online, some think KYC is good to implement, The KYC feature has always been a pro-con among gamblers, especially online gambling.

If someone often bets at land-based casinos, many of them think KYC is a stupid act, this is commonly said by land-casino addicts, but, there is definitely a difference between land-based casinos and online casinos, Land-based casinos are face-to-face whereas online are not, that's why they have to prioritize KYC, it's all for the sake of convenience and security against suspicious actions and fraud.

The bottom line: KYC on crypto gambling sites cannot be equated with land-based casinos, that's a different understanding, opinions may differ in KYC, but for that each of us has different thoughts and desires, kyc is good and gambling sites are not kyc there are also good ones, the problem is betting and wanting to win for the sake of plus.

[Strongkored]

Why ? Just why ?

Stupid for him is not stupid for others, because in the end everything is a choice and gambling with fiat is also stupid because it is the same as KYC where your data will be recorded by the casino.
There are also gamblers who have no problem with KYC because they see there is an advantage because it shows about ownership and nowadays it is almost impossible to find a casino without KYC, so it's about choice.

[Flexystar]

Aeyy man, that’s edited picture but let’s talk about it anyways since the guy wants to changed mind. Basically if you are in crypto and you know that it has unprecedented privacy already for transferring funds between the two Parties then you are already getting best out of it.

Now if someone is gonna come out of nowhere asking for KYC free gambling then definitely they are stupid. If you want to be that anonymous then just go to regular casino where thousands of cameras will be staring at you, creating evidences, Once you win you can leave the premises without showing any ID. The only thing is worlds will be watching you.

However, in case of crypto gambling world won’t be watching you, only few developers of gambling site, scratching their nuts every morning wouldn’t even bother to see who you are. Lolz.

[abel1337]

Why ? Just why ?

Stupid for him is not stupid for others, because in the end everything is a choice and gambling with fiat is also stupid because it is the same as KYC where your data will be recorded by the casino.
There are also gamblers who have no problem with KYC because they see there is an advantage because it shows about ownership and nowadays it is almost impossible to find a casino without KYC, so it's about choice.

We do KYC or the casino force us to do KYC because they want our accounts to have an identity for obvious reasons. Most casino's now are doing KYC since it's one of their license requirements or protection from casino abuse and what I see today is not having KYC is becoming one of the many things that a casino can show to us. It can easily become an advantage over other casino that do KYC. We also don't have much options left since every new casino that is launching is doing KYC.

[btcfinans]

KYC is a problem when it is used by a rogue casino to confiscate Player's winnings 

[noorman0]

Not so stupid, there is a certain level of concern for each gambler about his privacy and they will have the exception of entrusting his identity. Especially in countries where gambling is allowed and taxed from it, privacy is not an issue as long as they want to play it safe legally.

Crypto doesn't have to be anonymous all the time.

[Doell]

The goal is to know you, to know the customer, the most important thing is for safety, to keep the platform safe if the platform is safe then we are all safe too and comfortable playing anything. Crypto gambling at first also non KYC we were free but over time, this industry was highlighted as part of money laundering, the fault maybe casinos so KYC is needed to anticipate it.

you are right, everything develops according to the development and needs of the market. including crypto casinos which currently require more KYC to protect our assets.

Besides, if you don't like KYC, I think there are crypto casino options that don't require it. like an exchange, we can choose CEX or DEX.

Actually there are many crypto casinos if small play and small withdrawal is not required KYC, OP should try those popular casinos. If OP play in an unpopular casino here I'm afraid he will lose a lot of money, because we all know there are many good casinos and vice versa, but basically I think OP must be able to adapt with KYC.

[Eureka_07]

<snip>

The only thing that makes this KYC processes stupid within crypto gambling platform is that most casinos are abusing it. It is also often that they ask KYC even though they do not have any license, there's a point but a lot are doing it just to take advantage of the KYC being imposed. It also became stupid because the documents gathered using this Know Your Customer process can be used on identity theft and other illegal related schemes.

[Mate2237]

Why ? Just why ?

Are you against crypto gambling or against KYC? There are platforms where you may gamble without KYC, there is always a choice. At the end it is just a currency and a service, if someone thinks it is worth it, why not to do it?

But there are some companies that didn't indicate it on their T/C until when one win big then they would come up with KYC verification and other documents uploading. Although as you said it is by choice, it will be the option of the gamblers to choose between a company without KYC or with KYC. But as for me I prefer the one with KYC because it has more security than the one that doesn't have it.


But one thing is that if I used my deposit my money with any amount and win a game either small or big I suppose withdraw the fund because  I bet the game play it and win it so I should be allowed to withdraw my wins. I don't see anything wrong of winning big with my own bet. Like what happened in Nigeria almost 3 persons won millions with just a dollar. $1 to win $51,000

[darkangel11]

Crypto was made to popularize anonymity and ownership of your funds. By sending it to centralized platforms like casinos and also giving them your ID you're breaking 2 things that Satoshi wanted you to have: private money and complete control over your money.
I understand that some of us may be against it.

<snip>

The only thing that makes this KYC processes stupid within crypto gambling platform is that most casinos are abusing it. It is also often that they ask KYC even though they do not have any license, there's a point but a lot are doing it just to take advantage of the KYC being imposed. It also became stupid because the documents gathered using this Know Your Customer process can be used on identity theft and other illegal related schemes.

This is the first thing that always comes to my mind when someone mentions KYC, so I wouldn't try to change his mind. I completely agree with OP's statement.

[ScamViruS]

This is the regular operation of some casinos. Casinos often take advantage of this kyc to cheat gamblers. Because they don't have any problem if you deposit huge amount and they don't have any problem if you lose all that money. But, their problem starts when you win big amount, they will force you to complete kyc. Because they try their best to see if they can somehow walk away without giving that winning fund to the gambler. So you should deposit in a reputable casino, so that even if you complete kyc at least, your personal information will be safe. As a crypto user myself I try to avoid KYC. But unfortunately it is true that many times I am forced to complete kyc despite my reluctance.

[shasan]

Are you against crypto gambling or against KYC? There are platforms where you may gamble without KYC, there is always a choice. At the end it is just a currency and a service, if someone thinks it is worth it, why not to do it?

I am not the op but my opinion is we should hate KYC as a bitcoin/crypto lover as the purpose of using bitcoin/crypto is to use it anonymously. But if we use to know your customer then there is no way to use the crypto/bitcoin anonymously. So, I personally dislike it. But you are right we have options too. It is something you do, or you have to do. I mean the maximum site will ask very KYC at any time. Only a few sites may not require to fill out KYC.

[serjent05]

<snip>

The only thing that makes this KYC processes stupid within crypto gambling platform is that most casinos are abusing it. It is also often that they ask KYC even though they do not have any license, there's a point but a lot are doing it just to take advantage of the KYC being imposed.

Well, we have the freedom to choose not to comply with the KYC requirement or evade the gambling platform that requires it totally. 

It also became stupid because the documents gathered using this Know Your Customer process can be used on identity theft and other illegal related schemes.

In a legit business, any user information is protected by data privacy law so any licensed establishment will secure the privacy of their client and won't easily give information or details without a request approved by the judiciary system.

I am not the op but my opinion is we should hate KYC as a bitcoin/crypto lover as the purpose of using bitcoin/crypto is to use it anonymously. But if we use to know your customer then there is no way to use the crypto/bitcoin anonymously. So, I personally dislike it. But you are right we have options too. It is something you do, or you have to do. I mean the maximum site will ask very KYC at any time. Only a few sites may not require to fill out KYC.

But the thing is holding and using cryptocurrency does not entitle us to any special privileges such as KYC exemption.  We are still a citizen of a country and must be obliged to government regulations.  If we do not want to provide KYC, we can just avoid the services that require KYC.