What would be an ideal KYC solution?

[danadc]

The KYC is a factor that indicates to me that it is to have control and where there is control over people, many players do not like it because they do not like them to know their data, but it is something that must be complied with, I have thought that this is the It is an easier way for governments to control people who ignore their taxes and who do not like to appear, for this reason I analyze that KYC has a lot behind what they are looking for, it is not good for anything, I have learned that cryptocurrencies and bitcoin were made to avoid controls of all kinds and here through KYC is a shameless way of knowing people's data when they need it.

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[dezoel]

The main problem with KYC right now is the locked funds on user deposits... I think casinos should keep the users' money if they fail in the KYC process because that is like stealing their funds. If a user fails in the KYC process then the casino should send the money back, and then block the account. But it's just my point of view.

Another solution could be to request the KYC to let the user make a deposit. That would be fair for all and people will not lose their money with a KYC problem.

KYC must have been created for regulation purposes or to catch fraudsters. If they fail on the KYC, that could mean that they are guilty for doing some crimes. Now, will we still return the money to them? I don't think it's a good idea. They will just ran away and do another attempt in other casinos. for those who didn't commit a crime but only do some violations, I think it's also fine to confiscate their funds. This should act as a way to discipline their behaviours.

Now if they don't want this to happen then they must play according to the rules. If there is a problem with KYC, that is it is being implemented here in crypto when crypto is supposed to be decentralized and free from regulations.

[BitcoinAccepted]

Let's not forget that asking for KYC can also put off many customers. I think most people don't have much of a problem with providing this info, but it's more about how gambling sites handle the data. If you wanted to be honest, you should do a KYC the moment someone creates an account on a site. Then you also know for sure that you will not get into problems with a double account and you can destroy those kinds of accusations.

[roslinpl]

When you register with certain casino they never do mention about the kyc. They allow us to deposit int casino without kyc. They allow us to play the gambling without the kyc. After we earn good money from the deposit money, we have an idea to withdraw the full money. But they delay the withdrawal process by mentioning the kyc as mandatory to withdraw of money. In that mean time we will used 50-70 percentage in continuous betting. This will get you additional winnings apart from the old winnings.

[Kasabus]

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.

Or just face the reality that everything demands KYC right now, not only in gambling but also in opening your bank account, registering to favorite app in the internet, or even when simply participating in a raffle draw, lol of course KYC is a must. However, if you are not comfortable with KYC, I guess you’re free to gamble in shady areas but don’t expect that you can easily withdraw your huge amount of winnings.

[Silberman]

<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).

Which is I think what many casinos are doing already, they know that if they asked to every single one of their players to give their personal information to them they will lose a great deal of their clients, so the best solution for them is to only ask for this information to those that are gambling big amounts of money in their casino and leave the small gamblers alone, now this is bad for those which have a lot of money to spare in their gambling hobby, but I do not think there is a way for licensed casinos to avoid asking this information out of them.

[virasisog]

Legitimate online casinos require KYC since they need to comply with the law. There are regions and countries that don't allow gambling, if you are running a legitimate business you will do your best to comply and not to break any law to avoid any legal consequences. Some are against KYC for privacy purposes, but let's face it, No KYC is being abused and even minors are opting to go to online casinos since there's no way to verify their age if KYC is not required.

[dothebeats]

A reasonable trigger threshold would be a good solution, although apart from that I can't think of anything else. They cannot really compromise with the government on what they say they will do in terms of KYC, as for sure this is still monitored by the government they are under on. Perhaps they can be more forgiving on new users re: KYC and only ask for kne when they reached a certain amount before they need to submit documents. For existing users I guess if there is an irregularity, or if a user wins beyond a certain limit, that is when the second round of KYC should be given, otherwise let it be voluntary.

[ajochems]

Casino will be two types, One is Casino without the kyc. Most of the decentralised crypto currency will not kyc. Because they want the money flow in their casino. So they no need about the Kyc. It doesn’t mean, they are going to scam us. Since it’s very new one, they need attention to the project. For such kyc reason, they making some money easy to withdraw also. When the second one is using KYC, they will made the license for the people who involved to our crypto currency. The gambling without kyc will reach the most of the people.

[ralle14]

The current solution that some casinos have is already good IMO since their verification process would have several levels and as you've mentioned they have certain triggers for it. They're trying to adapt the solutions from exchanges but I don't see any better way to improve or balance it even further since not all casinos can avoid it permanently as I know that some casinos that didn't use to do KYC suddenly introduced some sort of rule recently.

[OgNasty]

I think the best solution is no KYC, no custody, no accounts period...  You should be able to use the blockchain for bets and have everything settled on chain.  Double spends took down the only online casino that ever attempted to operate this way (directbet.eu) but it was glorious while it lasted.  There was no way to make a deposit so that removed the concern of having your funds stolen in a hack.  Everything was viewable on chain so you knew that things were operating as expected and bets were immediately settled.  A shame that someone took advantage of double spends to cause the owner to walk away.

[harizen]

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?

Honestly, even if we propose something balanced here, what else we can do if KYC now becomes a must requirement for a gambling site? No choice but to follow or leave that site if anyone is not interested and feel comfortable on doing so. For me, as long as KYC will only be required in certain activities that a user can trigger their alarm, that would be fine.

As for my own approach, if KYC will really be mandated, I will study first the KYC terms of that site. From there, my decision to play on that site will depend on how the term goes. Besides, I'm open to comply with KYC for a gambling site that I'm using for long.

On the other hand, if it's about complying KYC with other sites that I rarely used to or those who are new to business, I will refrain from using them unless I saw something "special" that can lure me on that site.

[Viscore]

I will echo the sentiments of most of our posters here, it can't be prevented in this era. We have moved to a point that everything, including crypto base online casinos are going to ask for KYC. That what the world we live in right now, our identity will have to be known to them specially if we are winning huge amount of money.

So before they are going to pay, they want to record everything first, as government has also mandated that before they will be given their license to operate, they will have to pass KYC first. That's how it is and so there is no solution but to follow what they requested and submit ourselves to KYC procedures.

Perhaps the best solution is to accept KYC for good because it’s where it’s definitely going to. And to think that gambling platforms are manipulated by the centralized government, then everything their orders should be followed, and KYC should be strict implemented. Although there are some casinos who only ask KYC when there are huge amount of winnings, but it’s expected that in the long run, KYC will always be compulsory by any means.

[tabas]

The same with the exchanges that has to force KYC, they can limit their users into different tiers for which those that don't want KYC can still play with them but with lower features and perks with their accounts. But regardless of that and they say that they won't be requiring any kyc even in the future, don't trust them blindly because they can be forced to do that as you've said about the regulators pushing them in doing so. They can't do anything with that even if they want to balance it together with their players, they just can't go against the regulators that has the control to their business and can be halted anytime.

[Johnyz]

There will be no solution for this, KYC will be implemented and it will serve its purpose.
You can avoid these platforms asking for your KYC as much as you want but sooner or later, other site will also implement this one. Being anonymous here only applies if you are not using any centralized platform and remain an anonymous investors. If the regulatory agency started to make pressure on exchanges and casinos, probably they will comply right away or else they will not be allowed to operate.

[Distinctin]

Whether you like it or not, we will be asked to do KYC, regardless of the limit we crossed, because every casino can change the limit anytime.
Maybe casinos can now set a $10k or even more, but if the government asks them to lower the limit, the casinos have to comply.
While crypto users like casinos that don't implement KYC, they should also be aware that one day KYC may become a necessity in casinos.
KYC that doesn't use too many details won't be a problem for users.

Personally, it’s best to just comply whatever the casino require us to do so, if they ask for KYC, then we should do it willingly. Because in less than a year or two, everything will be asking for KYC not only in gambling casinos but also in other areas wherein KYC is a must too. So instead of trying to be anonymous to retain our privacy, why not just follow the rules and comply with KYC. Otherwise, you won’t be allowed to gamble at all.

[Fatunad]

Whether you like it or not, we will be asked to do KYC, regardless of the limit we crossed, because every casino can change the limit anytime.
Maybe casinos can now set a $10k or even more, but if the government asks them to lower the limit, the casinos have to comply.
While crypto users like casinos that don't implement KYC, they should also be aware that one day KYC may become a necessity in casinos.
KYC that doesn't use too many details won't be a problem for users.

Personally, it’s best to just comply whatever the casino require us to do so, if they ask for KYC, then we should do it willingly. Because in less than a year or two, everything will be asking for KYC not only in gambling casinos but also in other areas wherein KYC is a must too. So instead of trying to be anonymous to retain our privacy, why not just follow the rules and comply with KYC. Otherwise, you won’t be allowed to gamble at all.

If we dont have any choice then we would really be trying out to accept on whats the reality in front of us which it is something inevitable but we know that there are really that still casinos or platforms
which doesnt still ask out for some KYC and this is where people do flock out and be playing on these platforms since they could still able to play anonymously.
If you've been get stucked with those funds of yours and requiring some KYc then its up to your own choice whether you would be complying or
totally accept out that those funds or money had been lost totally.

[Oceat]

One thing that I could think of when there's a KYC is because it involves money laundering and if these establishment using Banks they will implement the KYC sooner or later especially if there's a huge cash flows. They want to know everything and I think it's part of the rules that they want to list everything in a ledger.

So, if you don't like a casino asking for KYC then, don't play on their casino because no matter what you do to avoid their KYC you'll still going to do the KYC somehow once you win or try to withdraw your funds on their casino.

[Solosanz]

Before you choose KYC casino, you need to read the whole TOS first, you will find KYC mandatory rule and they can ask it in anytime. I think the reason why choose a KYC casino is you're already trust with that casino, I think when you already trust on that casino, you should trust anything that you submit to that casino too. This can be your username, password, email, IP address, Bitcoin address etc. Actually if you've link your Bitcoin address and IP address from your centralized exchange, the casino could know your identity if they ask the centralized exchange. You must have submitted your KYC to centralized exchange right?

[traderethereum]

Whether you like it or not, we will be asked to do KYC, regardless of the limit we crossed, because every casino can change the limit anytime.
Maybe casinos can now set a $10k or even more, but if the government asks them to lower the limit, the casinos have to comply.
While crypto users like casinos that don't implement KYC, they should also be aware that one day KYC may become a necessity in casinos.
KYC that doesn't use too many details won't be a problem for users.

Personally, it’s best to just comply whatever the casino require us to do so, if they ask for KYC, then we should do it willingly. Because in less than a year or two, everything will be asking for KYC not only in gambling casinos but also in other areas wherein KYC is a must too. So instead of trying to be anonymous to retain our privacy, why not just follow the rules and comply with KYC. Otherwise, you won’t be allowed to gamble at all.

Maybe that's what we can do if the casino asks us to do KYC at any time because we already use the casino and get comfortable playing gambling.
But not all gamblers will voluntarily want to do KYC because surely some will be disappointed to see that their favorite casino has now asked them to do it.
Maybe they will move and look for other casinos that do not implement KYC so they can continue to gamble anonymously.
We should think about it before deciding, but as long as we use a trusted casino, I don't think there will be any problems for the members.