What would be an ideal KYC solution?

[Ebede]

I prefer the kyc verification because KYC we make you 2 protect whatever do you have in that particular platform some people does not like the way she because they feel that kyc verification will give them stress why kyc verification for any platform is for the benefit of the boat party because of mismanagement or lost of funds that is why I do value care while she forget about the stress or the requirement of it but everyone who is into gambling supposed to know that the kyc is very important

[qwertyup23]

<..snip..>
What would, in your opinion, be the best balance here?

I do not think that there is a middle ground in a solution for KYC. In fact, KYC is already the middle-ground of cryptocurrency casinos to operate in this kind of field.

The reason on why KYC is implemented is due to the mandate of the government for its regulation among its users. With the nature of online gambling, the streamline of revenue is significantly huge that there is unrealized profit in the part of the government if the casino is not registered. The reason on why KYC was implemented is in order to receive the revenue and regulate the users on their spending habits.

Since cryptocurrencies cannot be controlled or regulated, this is the most regulation that the government could implement. While it may be a hindrance to most people, this is the only solution and middle-ground created by the government.

[dunfida]

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

Casino hands are tied up because of the regulation even if they want to give what the community wants, they cannot do it, because their license issuer will not let them, and they have to comply with what their license issuer asks them to do with their players, the best options or bargain for users is to play on casino with a good reputation, a casino where your sensitive information is safe and they are compliant to the authority when it comes to asking KYC FOR their users, casinos are centralized and regulated they function that way to protect their casino and their users.

Unfortunately there is no other option that makes any sense for the gamblers, as much as we would like for this to not be the case it is not possible anymore, the gambling industry is huge and the governments cannot afford to ignore it anymore, especially now that they need all the money they can get due to the difficult economic circumstances they are facing, now some gamblers may try their luck with unlicensed casinos but that decision has its own fair share of problems.

We know on whats the usage of taxes and this is where government do really try to snip out as much as possible with businesses and knowing on how big or profitable gambling business is then its not surprising that

they would be trying out to impose much stricter rules and laws for them just to snip out revenue or taxes with this businesses which these operators cant really be having any choice but to follow it.

Us users would be the ones will really be suffering on this one and as long there are platforms which doesnt ask out some kyc then we would really be
using it as much as we could for now, but i wont be surprised on what it looks like in the future.

[rodskee]

I prefer crypto casinos without KYC. And in fact, although I have tried a few of them, I have never been asked for KYC. It also has to do with the fact that I don't bet large amounts, and in some of these casinos the ToS talk about KYC requirements above certain amounts.

Have same stand here mate , because i tend to hide my personality over online gambling because by any chance this will hurt our personal matter maybe not sooner but in the future as there are abuse coming.

I think that if KYC requirements become generalised in the future and it happens like in fiat casinos, cryptocurrency casinos will lose a large part of their appeal and their business.

this will lose large part and I think we will going back to casino establishment where there are no details needed but to deposit and withdraw by chips.

I prefer the kyc verification because KYC we make you 2 protect whatever do you have in that particular platform some people does not like the way she because they feel that kyc verification will give them stress why kyc verification for any platform is for the benefit of the boat party because of mismanagement or lost of funds that is why I do value care while she forget about the stress or the requirement of it but everyone who is into gambling supposed to know that the kyc is very important

if we are talking of legit site then yes KYC  is better but for those new site or those being accused of scamming? then i will never deal with kyc and that site itself.

[SirJohnVonSlotty]

Unfortunately there is no other option that makes any sense for the gamblers, as much as we would like for this to not be the case it is not possible anymore, the gambling industry is huge and the governments cannot afford to ignore it anymore, especially now that they need all the money they can get due to the difficult economic circumstances they are facing, now some gamblers may try their luck with unlicensed casinos but that decision has its own fair share of problems.

That's so true, but try to tell that to Sweden and Poland, they are still a hard nut to crack, they just don't want to open up for this industry :/ Maybe once this generation of politicians exchange. 

[irhact]

I don't think KYC should be feared. I'm sure that they will never ruin their reputation by leaking their player's personal details. KYC is getting mandatory nowadays and we should just have to deal with it.

True but there are some situation when the casinos doesn't have a say on how the KYC was leaked like when the casino get attacked by hackers and things are been stolen like customers funds and data. Some hacker target this platforms as they know they hold data of many users and this can be used to harm this individual directly or sold on dark web for profit.

KYC should always be feared and shoudn't be summited to anyhow platforms you don't feel safe using. Always evaluation the casino before trusting them to safeguard your private information. Not many platform has this capacity to safeguard customer information as many are poorly built.

[piebeyb]

the solution is in each of us, I as a gambler actually I don't really like having to provide a photo of our identity or proof of billing our account to the casino site, I'm also not a big gambler just a small gambler so there's no problem just filling in the data to get level 1 on stake.com I can withdraw money without having to give my identity there, usually I will look for KYC which is not too complicated and has high limits without having to provide our identity, so far as I know stake.com is better enough to even withdraw hundreds dollar was not asked for any identity

[Yatsan]

I don't think KYC should be feared. I'm sure that they will never ruin their reputation by leaking their player's personal details. KYC is getting mandatory nowadays and we should just have to deal with it.

True but there are some situation when the casinos doesn't have a say on how the KYC was leaked like when the casino get attacked by hackers and things are been stolen like customers funds and data. Some hacker target this platforms as they know they hold data of many users and this can be used to harm this individual directly or sold on dark web for profit.

Then maybe they should limit the informations they are seeking for KYC to set limit on both ends such as not including important information that could endanger the life of the player or only submitting pictures with watermarks of the gambling site they are playing at(just to somehow know where leak happened; problem is tendencies of editing or removing watermarks). KYC is not important to some people but others would put an eye into it especially those 'big' personalities who are playing in online gambling casinos. Given that there is a split with compliance, a waiver would somehow work stating that if a player won't submit KYC, then the site won't be liable with any problems that may happen to players' asset. Last option I guess to provide security to both ends; engage only on gambling sites which are registered or licensed.

[nakamura12]

But THERE IS a solution, just like Bitcoin was designed to give the user the capability to go around regulations, building a casino to process its transactions directly onchain can also give the casinos the same regulation-avoiding capabilities.

DirectBet was a true onchain Bitcoin casino. The was user never requires to make an account, or required to make a deposit. Everything was done onchain. Although, it was slow and inefficient during high network congestion. I would like to see it built on "faster" blockchains, like Litecoin/Dogecoin.

Well, what can you say if they are not like that?. I didn't read somewhere on the site that they are on-chain. Most of the casinos I know are not like that where you deposited any amount but your account already have balance meanwhile the transaction is not yet confirmed or the site requires more than 1 confirmation needed before the balance is there. Many gambling sites use that method so that their gamblers won't have to wait for confirmations before their balance shows up in their account and in withdrawals won't be a problem since it's going to the gambler's wallet.

[ethereumhunter]

I don't think KYC should be feared. I'm sure that they will never ruin their reputation by leaking their player's personal details. KYC is getting mandatory nowadays and we should just have to deal with it.

True but there are some situation when the casinos doesn't have a say on how the KYC was leaked like when the casino get attacked by hackers and things are been stolen like customers funds and data. Some hacker target this platforms as they know they hold data of many users and this can be used to harm this individual directly or sold on dark web for profit.

KYC should always be feared and shoudn't be summited to anyhow platforms you don't feel safe using. Always evaluation the casino before trusting them to safeguard your private information. Not many platform has this capacity to safeguard customer information as many are poorly built.

Casinos rarely tell the truth about what is going on in their business and keep it all to themselves. If they are required to explain, they will not go into detail because it concerns the situation at their casino. But usually, there will be people who will say what happened to the casino but we won't know who they are or their motives. From there, casinos want to open up about what's going on in their business.

We as gamblers, need to be aware of who has done KYC at the casino because this concerns the data we submitted to the casino. We certainly don't want to see our data being misused by hackers and even selling the data to other parties. A reputable casino can protect all customer data, including keeping their finances from being taken by hackers.

[swogerino]

I think the best would be to set up an amount,a minimum amount that they must ask for KYC before proceeding your withdrawal.I am in favor of 10.000 dollars as in developed countries that is a maximum of three minimum to average salaries and everybody can have that amount,of course we are in crypto and the privacy is extremely loved by all the crypto guys,I also don't think criminals would be laundering money in such low amounts (hopefully I am not giving them an idea here  ) so that would be my ideal solution.

Of course the casino may low that amount as a minimum monthly salary in developed countries like 2000-3000 dollars and then asking KYC,for whales I fully agree KYC is super needed.

[Ghostnipple]

Unfortunately some casinos are using KYC as an excuse to gather user data and use it for their own commercial purposes. Data which has high value on the international data markets. Take Stake.com for example who operate within the legal jurisdiction of Curacao:


> They have no legal requirement to gather players data,* the law in curacao does not currently require them to gather players data.

> The data they do gather has no legal protection, if there are laws of data protection relating to your personal jurisdiction, stake can circumvent those laws by transferring the data to a country where it has no legal protection.

> Stake.com offer no guarantees of safety for that data and accept no responsibility for what happens to it after you send it to them.

> Buried in their privacy statement Stake.com state that they collect data for the purpose of using players data to increase profit levels and also admit an intention to offer that data to any potentially interested parties** (at a price I assume).

At any time they can effectively hold your funds as ransom until you send them data of high commercial value, data which they can do with as they like. Once it is in their data base they can hold on to it for ever, irrespective of any requests you may submit for its removal.



*Jurisdiction
Stake is not a financial institution within the meaning of applicable law of Curaçao and is accordingly not directly subject to the statutes and regulations applicable to certain financial institutions, -https://stake.com/policies/

**Collection Purposes
To create aggregate data about Members through demographic profiling, statistical analysis of the database to provide to potential and existing stakeholders, and to allow for more efficient operation of Stake.com’s business. https://stake.com/policies/privacy

***All information processed by us may be transferred, processed, and stored anywhere in the world, including but not limited to other countries, which may have data protection laws that are different from the laws where you live. https://stake.com/policies/privacy

[passwordnow]

I think the best would be to set up an amount,a minimum amount that they must ask for KYC before proceeding your withdrawal.I am in favor of 10.000 dollars as in developed countries that is a maximum of three minimum to average salaries and everybody can have that amount,of course we are in crypto and the privacy is extremely loved by all the crypto guys,I also don't think criminals would be laundering money in such low amounts (hopefully I am not giving them an idea here  ) so that would be my ideal solution.

Of course the casino may low that amount as a minimum monthly salary in developed countries like 2000-3000 dollars and then asking KYC,for whales I fully agree KYC is super needed.

I think that's a good idea for being subject to KYC. The whales usually and definitely have to comply with their terms because the sums of money they cash in and out are not a joke amount.
While for the low amounts and accounts that don't have much to gamble and just like betting sometimes with a few bucks, they don't have to be bothered by it.
Yet, there are still metrics and standards the different casinos has so the situation varies and reasons why one has to be subject to KYC.

[Zackgeno96]

For many people, the ideal would be to stop using KYC altogether. But that remains a utopia, of course, that cannot be achieved. I think it is also getting stricter, per license provider. How could you solve that? I think the last thing you want is to offer a gambling site through a jurisdiction where no license is used at all. That is something that customers can often be critical of nowadays. But many gamblers are already familiar with the KYC. At least, people who have been involved in the gambling world for a while will have already experienced this at 95% of the gambling sites. Especially when it comes to a traditional casino, and not just crypto.

[8rch7]

I don't have bad ideas with gambling casino website required for KYC but need increase up for withdrawing limit user not pass their KYC, not all member are agree with KYC procedure but casino gambling restrict with account huge withdrawing fund and seems fair when limit withdrawing increase up and not impact with user leave casino gambling aware they have pass KYC. I don't know about how much with limit increasing for member without pass KYC because I just withdraw with small fund in gambling casino.

Of course the casino may low that amount as a minimum monthly salary in developed countries like 2000-3000 dollars and then asking KYC,for whales I fully agree KYC is super needed.

Better withdrawing under $3,000 without need KYC but if withdrawing above this amount the user should KYC earl if want increasing up their withdrawing fund from casino.

[Russlenat]

There is no solution to it.

Just be aware of their rules before signing it and these days, most of them are likely to ask you kyc for whatever reasons they want to say. Accept the fact that the governments can no longer be cool by not having these casinos ask for kycs.

They've got their reasons, the casino has got reasons and we also got our reasons whether we will continue signing up and gambling with them or not.

KYC is here for good. Even if we’ll always prefer non-KYC to avoid disclosing our personal information and to stay anonymous, it cannot be possible these days as most of the casinos are completely controlled by the government regardless if they are reputable or not. But if we are to give and submit KYC, then we should always go to the most trusted and reliable casino we know, and definitely not on the new casinos that have not yet proven their credibility.

[coolcoinz]

The best solution that I'd expect from casinos is to be straightforward and honest from the start.

If they demand KYC from everyone they should put it in their TOS and make it clear - you make an account you will be asked for KYC.
If they demand KYC at random they should stop it and want it only from users who withdraw upwards of a certain (disclosed) amount.

They should also allow users to delete accounts and allow them to request that all their data including IP and email is deleted on request. No private data should be held and processed by them and KYC verification should be done by a third party that does it professionally and doesn't store data.

[Sanitough]

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.

Maybe for now, Stake is still giving an exception and just require KYC whenever a huge amount is being withdrawn. But I’m not totally sure if it stays that way for long when most of the casinos are already requiring it from the start, and you can read it in their own rules that as long as KYC is required, user should submit to it. So let’s just be realistic about KYC, there is no solution to it, the government has set its rules and casinos are obliged to follow.

[AmoreJaz]

The best solution that I'd expect from casinos is to be straightforward and honest from the start.

If they demand KYC from everyone they should put it in their TOS and make it clear - you make an account you will be asked for KYC.
If they demand KYC at random they should stop it and want it only from users who withdraw upwards of a certain (disclosed) amount.

They should also allow users to delete accounts and allow them to request that all their data including IP and email is deleted on request. No private data should be held and processed by them and KYC verification should be done by a third party that does it professionally and doesn't store data.

there are still some licensed casinos which do not require kyc from the start as they have certain limits before they require one. like if the user exceeds their accumulated deposits or withdrawals to $2k, that's when they will ask for kyc. but if you are just a small roller, they won't ask even if it is stated on their ToS that they require kyc. but with this kind of casino, a player should always be ready to submit his kyc docs, it means, better play on a reputable site even if you are a small roller.

[SirJohnVonSlotty]

Maybe for now, Stake is still giving an exception and just require KYC whenever a huge amount is being withdrawn. But I’m not totally sure if it stays that way for long when most of the casinos are already requiring it from the start, and you can read it in their own rules that as long as KYC is required, user should submit to it. So let’s just be realistic about KYC, there is no solution to it, the government has set its rules and casinos are obliged to follow.

If I remember right, Stake is set at 1,5 BTC lifetime withdrawal limit, once that is reached, the KYC is triggered. But don't take my word for it, it has been a while since my research.