What would be an ideal KYC solution?

[SirJohnVonSlotty]

Hey guys,

With all the KYC talk lately I wanted to open up a thread and ask about your opinion.

The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents

The side of the casino:
- Regulators are asking them to do KYC, but they need to find a balance on when it's triggered. E.g. to keep a portion of the user happy, they can rise the trigger to a certain amount.
- They are tied to a payment provider, either because of the license or CMS, and can offer only a certain portion of cryptocurrency.
- Users are abusing them if there's absolutely no KYC matrix in the system.

What would, in your opinion, be the best balance here?

Efialtis from BTCGosu mentioned that some of the casino managers make exceptions, and I can imagine how that's possible, but I'm curious in what you would like to see there.

Regarding KYC: Their management confirmed with me personally that they would not enforce KYC. (Same old story, we could of course argue about that just like with any curacao licensed crypto casino) - the good news is when I have personal confirmation of such a statement, then I am putting a "No" and if they break their word at any point of time, I would take action. That is how I have always been handling this topic and how I will continue doing it.

[Eureka_07]

<snip>

Most will probably say that they are against KYC, which is very reasonable if the business has major processes related to cryptocurrency (cryptocurrency, which we know, was originally created to to attain financial freedom from the hands of governments).

Personally, I believe government still has to have it's part, but they have to be limited. So for both of those who want to have 0 KYC implementation and casinos and regulators, they have to meet in the middle, which I think  the idea of having KYC being asked is based on the amount of money.
Also, casinos should not just accuse anyone without any reason, if they ask for KYC they should entirely explain what happened and why they ask for identifying documents. (I know there might be privacy concerns here, please share your knowledge about it, I'll be glad to hear it).

[ryzaadit]

There is no solution.

Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).

Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.

[o48o]

Current method is good enough until better technology comes along, and that's not far away. I am pretty sure that next one will be Zero Knowledge -based confirmation system where casinos and regulators know it's me without me revealing any information or scanning my passports etc that might get stolen and leaked. Which in my case has probably already happened as i gave my ids in the past a lot without considering the consequences.

If the question is that do we need KYC at all, then the answer is that it isn't something we get to control.

[Dunamisx]

The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents

1. Apparently a higher percentage of gamblers would prefer casinos that have no KYC requirements because this will help save the unnecessary stress for verification of user's account and the KYC restrictions sometimes placed on account that are yet to be verified.

2. I think the demand for this will be a rare occurrence since everything now evolved round about digital currency in this era.

3. Gamblers don't use KYC request to build their trust on a gambling website, what they build upon is the capacity to how far they can deliver their services when it comes to enjoying gambling varieties without any delay or denials in their gambling experience with their casino.

I don't think i can really side the other side

[rhomelmabini]

I think a simple KYC is the solution nothing much to be asked to the user and besides KYC doesn't combat 100% on what the government really trying to limit. Yes it mitigated the risks of these money launderers but I think even with a thorough KYC it's still not enough to stop them at all.

[ajiz138]

There is no solution.

Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).

Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.

True there is no solution they will ask for KYC if needed or when a big win comes to us then the casino will ask for documents for withdrawal approval.

Basically, we are still taking advantage of opportunities for users with small funds, so it won't be questioned for KYC, but if it's more than that, maybe we have to be prepared to give up everything the casino needs, so there's still no good solution because the government is still in control for a regulation on the casino.

Stake and some casinos are still a solution that does not ask for KYC because withdrawals are very small.

[Stedsm]

There's nothing wrong in providing KYC if you are asked to give the same (but by a reputed casino ofcourse).
I said this because sometimes, if we win big, we are asked for more info either to clarify their suspicion or to let them know that we don't belong to one of the site's restricted countries. I know that many of us are skeptical about providing any of our personal details to such casinos but most of the times we need to settle our mind and give our KYC docs to the website in order to get our funds released by them.

[BitcoinPanther]

What would, in your opinion, be the best balance here?

Efialtis from BTCGosu mentioned that some of the casino managers make exceptions, and I can imagine how that's possible, but I'm curious in what you would like to see there.

I think KYC is the trend now, so it is somehow difficult to not implement it since regulations are imposing that centralized casino must implement KYC for anti-money laundering.  I think if the casino wanted to implement KYC, they must implement it on the registration and before enabling deposit address so that a player can have a choice whether he will undergo KYC or not before playing.  That way player can avoid losing fund in relation to KYC issue.  This also solve the casino's problem of multi-accounting and other exploits done by users.

It is either implement KYC or not, if the casino wanted to implement KYC then do before the player is able to deposit funds.

[Magoo8]

Hey guys,

With all the KYC talk lately I wanted to open up a thread and ask about your opinion.

The side of the user:
- Prefers no KYC
- Prefers anon coins as a payment platform
- If a KYC is triggered, they want to trust the brand with their documents

The side of the casino:
- Regulators are asking them to do KYC, but they need to find a balance on when it's triggered. E.g. to keep a portion of the user happy, they can rise the trigger to a certain amount.
- They are tied to a payment provider, either because of the license or CMS, and can offer only a certain portion of cryptocurrency.
- Users are abusing them if there's absolutely no KYC matrix in the system.

What would, in your opinion, be the best balance here?

Efialtis from BTCGosu mentioned that some of the casino managers make exceptions, and I can imagine how that's possible, but I'm curious in what you would like to see there.

Regarding KYC: Their management confirmed with me personally that they would not enforce KYC. (Same old story, we could of course argue about that just like with any curacao licensed crypto casino) - the good news is when I have personal confirmation of such a statement, then I am putting a "No" and if they break their word at any point of time, I would take action. That is how I have always been handling this topic and how I will continue doing it.

No KYC is best except large withdrawals.

[Kemarit]

I'm not sure if there is a middle ground here:

If casinos are mandated by their regulators then obviously they will ask for KYC, simply as that. Perhaps you need to read between the line what @Efialtis. Maybe in the beginning they "will not enforce", so meaning there is a possibility that they will in the future.

And how many online casinos are going to survived without KYC? that is the big question.

[goaldigger]

KYC will be implemented in time, this is inevitable as the government tries to regulate everything that are related to cryptocurrency and with gambling, its slowly happening. I see no solution here aside from dealing with the best site only. I already provided my KYC on many good site and so far I’m still safe, I guess you just need to have a good wallet to protect yourself from any hacker because soon KYC will be one of the requirement to deal with crypto.

[Yaunfitda]

There is no solution.

Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).

Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.

I do agree, every services that involved crypto here will always be KYC, from exchanges to casino because that will be law and by that it will be enforced.

Yes, there are also DEX in casino and same as exchanges, but they are not being supported, because it has limit and slow. And again, the similarity is the same. I do hope that that there should be certain threshold that the casino will do before asking our personal data. Because the thing right now is that casinos are asking for KYC is they flag an account regardless of the money they won (of course the bigger, the more it will attract KYC).

[Baofeng]

There's nothing wrong in providing KYC if you are asked to give the same (but by a reputed casino ofcourse).

I guess before, online casinos are not asking for KYC even if you win big, they will readily give it to you once you withdraw.

I said this because sometimes, if we win big, we are asked for more info either to clarify their suspicion or to let them know that we don't belong to one of the site's restricted countries. I know that many of us are skeptical about providing any of our personal details to such casinos but most of the times we need to settle our mind and give our KYC docs to the website in order to get our funds released by them.

It's different now, and for some casinos, initially they will not ask for KYC, but once you win big, the issues arises.

And that's what irked many gamblers, and with that said, I don't think their will be any ideal KYC solution. Casinos are going to hold your winnings if you don't pass your personal data to them. So you are somewhat trap and will be forced to send it just to withdraw your money.

[acroman08]

What would, in your opinion, be the best balance here?

I don't think there would be a balance here. sure, it would be great if the casino does not enforce their KYC but not all casinos will do this, at the end of the day, Casinos will protect and prioritize their interest over their gamblers.

I do hope that that there should be certain threshold that the casino will do before asking our personal data. Because the thing right now is that casinos are asking for KYC is they flag an account regardless of the money they won (of course the bigger, the more it will attract KYC).

I remember reading before on a Casino(I forgot which casino it was) that they have a certain threshold before they ask their gambler for KYC(of course as long as they don't find anything "suspicious" on the account).

[DoublerHunter]

~snip~
My advice, play on casino who have higher minimum withdraw for required "KYC".

^Definitely right and I agree with this.
Because KYC is always been there when it comes to gambling casino that is regulated once they have a license. Any platform that has related to any financial matters will always ask for this KYC, the thing is to choose the higher minimum withdrawal for the required KYC and also avoid asking for heavy requirements of KYC. So always be ready ourself for KYC because it is expected and there is no solution to avoid them.

[Fivestar4everMVP]

First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.

For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.

KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.

[Lanatsa]

There is no solution.

Centralized Casino always required you "KYC", never believe any casino who offers you "Without-KYC" from Centralized Casino. A casino who offering without KYC is always Decentralized CASINO while the type gambling is on-chain gambling (Using smart-contract without any developer touch). But the problem for Decentralized Casino, we really have limited gambling game (Most the time, Dice-chain or Lottery).

Always be ready for "KYC". My advice, play on casino who have higher minimum withdraw for required "KYC". Example like "Stake", I already tested withdraw 10,000$ they not ask me KYC.

I do agree, every services that involved crypto here will always be KYC, from exchanges to casino because that will be law and by that it will be enforced.

Yes, there are also DEX in casino and same as exchanges, but they are not being supported, because it has limit and slow. And again, the similarity is the same. I do hope that that there should be certain threshold that the casino will do before asking our personal data. Because the thing right now is that casinos are asking for KYC is they flag an account regardless of the money they won (of course the bigger, the more it will attract KYC).

Government would really be targeting out these platforms to impose up regulations and laws considering that they cant touch up cryptocurrency literally or technically which they would rather put up focus on

integrating it into these platforms thats why KYC and regulation becomes more tighter as the years passing by which it isnt really that surprising that we are experiencing these things.

Expect that on future years to come where these crypto casino will really be in default on asking out some verification before you could play or something that we could say
that it might really be ending up on being the same with those fiat casino which i wont really be shocked.

[TimeTeller]

First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.

For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.

KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.

Yes, OP should move this to the gambling discussion board.
As we have seen, casinos and bookies with gambling license have kyc requirement in their ToS.
This is part of their compliance also to where they are licensed, so it is understandable that they need to put it in their Terms.
Some of them are not very strict when it comes to implementation, however, the user should always be prepared to submit
if in case he is playing on a casino which requires kyc.
In this regard, if you don't want any trouble, just play on a reputable casino, which you think you won't have problem submitting your kyc docs.

[Fivestar4everMVP]

First, I would like to say that this topic is best created on gambling discussion board, so it would be nice if it is moved there.

For me, any balance is OK to ask a user for kyc, I have kyced on big casinos like stake and the rest, on my own and with zero balance, I did not wait until the casino made the passing of kyc verification compulsory for me to continue using their platform.

KYC brings benefits to both the casino and the gamblers, one of those is that it protects the casino and the users from malicious users, also help to keep the rate of multiple accounting at its barest minimum.
I personally had never had any problems with kyc, but all I make sure of is this that I am not giving my documents to scammers, but rather, to a reputable company to enable me enjoy their services with limits.

if you don't want any trouble, just play on a reputable casino, which you think you won't have problem submitting your kyc docs.

Exactly the point I was trying to make, I think the whole issue and argument in regards to kyc is because many gamblers want to gamble to make money but are not willing to release their identity, some times it makes me wonder how we all were able to play on the land casinos when online casinos was not yet a reality, do some of us have a ghost-mode switch which we press to turn off our real identity when we visit the land casinos?
Of course not, we visit there in and with our real identity, why now has it become a problem for us in the online version of casinos?

I believe no body is ever forced to using an untrusted casino, wherefore when they ask for documentation verification, we begin to panic for what they are going to use it for, if you are such a person, then just stick with the reputation casinos and have your kyc documents ready any time it is request, for the reputable casinos, you are sure that your documents won't be used for anything malicious outside the terms stated in the ToS.