What would be an ideal KYC solution?

[Eternad]

I won't say new if I say that the ideal KYC is no KYC at all, but probably giving less personal data will be an ideal KYC. Because even KYC can be faked. Which makes passing it a joke. Taking a photo or video of the login process with KYC will be more than enough to prove that the accounts belong to you.

That's right here Sir because it's true that the KYC can be cheated, especially if there is no video call or if there is, the person talking may have been oriented by the gambler and there was an agreement between the KYC owner.

Even a video call can’t avoid KYC being cheated since they don’t get initial information of the customer before they ask KYC. The casino has no proof for the real owner so anyone can do the KYC with or without video call involved. Some casino ask personal information of players during registration but most of the big casino doesn’t require this since most player doesn’t preferred it due to there safety of privacy.

So even with KYC a cheater can still cheat the casino by paying someone to KYC for his account.

[jostorres]

However why this 1xbit spammers are saying KYC casino is good? what I know 1xbit is a casino that doesn't require KYC, so does this mean 1xbit is a bad casino?

Well what do we expect from them? They are from the 1xbit team. They are different from the legit users in the forum so they may like things that we didn't like. Casinos that don't require a KYC doesn't automatically mean that they are a good casino. 1xbit can require or won't require a KYC but it won't change the fact that they are still a shady casino.

It will be hard to detect a fake document, that is why each KYC verification requires the users to scan their face in real time and they will follow a certain instruction. That way the system knows that they are dealing with a real person and that person is the same to the person that they see in the submitted ID.

[Ghostnipple]

We have to allow all regulation from casino gambling trough required with KYC or not, I don't think have serious problem when submitting KYC in casino account because we have upload document ID on exchange market although have been collapse like FTX. Securing or not our document used in casino gambling later actually depend with how reputation from one casino, I think we know about experience and trusted casino allowed for KYC.

Don't blame with any one still not agree with KYC in casino gambling, you can get many casino not requiring with KYC but you have accepted term term of service limited withdrawing and depositing your fund.

Reputation will always be the key. I don't mind sending my information to a well-known gambling platform. It's just the same as how I trust a reputable exchange with my details to enable maximizing the withdrawal limit benefits. Because that's just how it is, when they grow bigger as a company they tend to be a target by the government using the money laundering act.
What I don't really like about KYC's is the annual updates, I think they should stretch this up to 2-3 years before they re-check the players if they are changes with their profiles.

Consider the casino that;

- makes a choice to operate in a jurisdiction that does not require them to implement kyc procedures through regulation.

- chooses a jurisdiction that offers no legal protection to the player.

- selectively imposes a "kyc" like policy on the player, but only does so in instances in which it is to it's own financial advantage.

-publicly states through multiple marketing channels that it never witholds funds from players.

-witholds players funds as a means of coercion in order to obtain data of high commercial value which they sell to any interested parties who are prepared to pay the price.

- quotes "regulatory requirements" when asked to justify their behaviour, in full knowledge that they operate outside  of any legal framework.

- actively encourages players directly and indirectly to create multiple accounts, offering level up bonuses and other incentives on those alts, then banning those accounts before they have to payout those bonuses.

-uses the excuse of multi accounting, which they encouraged, to deny paying out to players.

Then ask yourself what kind of person would promote such a casino. I suggest you do your homework before you promote stake.com here in this forum.

[Hispo]

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It would not be the first time I have seen some of them saying some non-sense around here in the forum for the sake of trolling, I guess.
Also, I assume that casinos and exchanges ask for real time verification of one's face  because a simple picture or scan of one's document would not reveal security measures printed on the document, like ultraviolet ink or holograms. So at least with face verification they can be somewhat sure it is not an identity theft case.

[Blawpaw]

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.

Dude, KYC is simply a way for the godamned government put their hands on whats not theirs. Basically, there are no solutions. Going through the KyC  is a cumbersome process not only for players but also for casinos. IMO, casinos should be tring to find ways of helping customers avoiding the KYC but unfortunately, casinos are stuck with compliance and KYC is a demand to which if they not follow, their business will suffer the consequences

[Zackgeno96]

You can technically conclude that both are safe. Online you have advanced software, but I don't think he can mess with it. Gamblers have indicated that they wager higher amounts much faster online. You will not see the money, but only a number. That is very different from sitting at a roulette table. At an online casino you have many more games, it just depends on what you like. That is alldetermining whether you play in a casino or live casino.

[ethereumhunter]

I won't say new if I say that the ideal KYC is no KYC at all, but probably giving less personal data will be an ideal KYC. Because even KYC can be faked. Which makes passing it a joke. Taking a photo or video of the login process with KYC will be more than enough to prove that the accounts belong to you.

That's right here Sir because it's true that the KYC can be cheated, especially if there is no video call or if there is, the person talking may have been oriented by the gambler and there was an agreement between the KYC owner.

Even a video call can’t avoid KYC being cheated since they don’t get initial information of the customer before they ask KYC. The casino has no proof for the real owner so anyone can do the KYC with or without video call involved. Some casino ask personal information of players during registration but most of the big casino doesn’t require this since most player doesn’t preferred it due to there safety of privacy.

So even with KYC a cheater can still cheat the casino by paying someone to KYC for his account.

Maybe before making a video call, the casino might do an online face verification to check if the face and photo on the ID are the same so they can process the verification.

Most crypto casinos do not ask for personal information and only ask for email addresses and passwords. But the casino will apply KYC for gamblers, especially those who often get big wins or deposit and withdraw large amounts of money or if the casino notices any suspicious activity from the gambler. A cheater can trick the casino but the casino will not sit idly by and see this happen. Casinos will definitely set up even stricter KYC, even if it's a crypto casino.

[Mr. Magkaisa]

I won't say new if I say that the ideal KYC is no KYC at all, but probably giving less personal data will be an ideal KYC. Because even KYC can be faked. Which makes passing it a joke. Taking a photo or video of the login process with KYC will be more than enough to prove that the accounts belong to you.

That's right here Sir because it's true that the KYC can be cheated, especially if there is no video call or if there is, the person talking may have been oriented by the gambler and there was an agreement between the KYC owner.

Even a video call can’t avoid KYC being cheated since they don’t get initial information of the customer before they ask KYC. The casino has no proof for the real owner so anyone can do the KYC with or without video call involved. Some casino ask personal information of players during registration but most of the big casino doesn’t require this since most player doesn’t preferred it due to there safety of privacy.

So even with KYC a cheater can still cheat the casino by paying someone to KYC for his account.

   -  You are right in what you mentioned, boss, an abusive gambler will do anything just to get what he wants. Giving KYC is easy to cheat, but is there another way to avoid cheating at a casino, right?

But most the gamblers don't want KYC, it's just that the rules on a casino platform are not adjusted correctly so that their players can be very comfortable in their gambling.

[Ghostnipple]

KYC does not verify a players identity, it simply verifies that the specified documentation has been submitted.

KYC and AML regulations and procedures do not stop money laundering. Those involved in that activity find
their way around regulations because they are highly incentivized to do so.

Pre-verified accounts are being bought and sold online by enterprising individuals who are addressing a
demand in an emerging market.

The inconvenience and the cost of KYC procedures is therefore borne by the majority of ordinary users who have no intention
of breaking any laws, they simply do not wish to risk having their personal identity documents stolen when a casino's database is inevitably hacked.

[safari88]

There are a few sites where you have to identify yourself with the KYC procedure when you register your own. Actually, that is also the most honest. That way you can never get conflicts or problems with bets placed. How many times have we seen gamblers make a deposit, place a lot of bets and then the gambling site steps in to say that the KYC has not been completed or that there is fraud or something like that? It's a shame it's like this, but it's the reality. By performing the KYC immediately upon registration, you prevent a lot of problems.

[Casdinyard]

I am not really against KYC, as it in a sense helps protect me from attacks and makes sure that nobody gets on to my precious holdings but only me. But I understand the logic behind the disapproval of implementing KYC by some users here. After all, cryptocurrency was made to offer freedom by means of decentralization and anonymity. The fact that they are implementing KYC just defeats the purpose all in all. Although for me, if you really just don't want to do KYC, which most reputable sites already implement, you must be willing to run the risk of less security given that there are no contingencies for when push comes to shove and you lose all your holdings to some hacker from who-knows-where.

[stomachgrowls]

I am not really against KYC, as it in a sense helps protect me from attacks and makes sure that nobody gets on to my precious holdings but only me. But I understand the logic behind the disapproval of implementing KYC by some users here. After all, cryptocurrency was made to offer freedom by means of decentralization and anonymity. The fact that they are implementing KYC just defeats the purpose all in all. Although for me, if you really just don't want to do KYC, which most reputable sites already implement, you must be willing to run the risk of less security given that there are no contingencies for when push comes to shove and you lose all your holdings to some hacker from who-knows-where.

We know the pro's and benefits when we do talk about KYC which you could really be having the chance on claiming or something talks about being protected but we know the essence on dealing up with crypto because

even if you do have that kind of identification or could sent out those proofs but due to irreversible characteristic of crypto then there's no way that you could assure that everything would turn out to be fine.
One of the reason on why this crypto gambling space had become that relevant and become that known and have that demand due into that anonymity and kyc does really totally oppose that
idea which is something that do really give out that kind of bad impression on the time that kyc procedure is becoming stricter.

[capedbaldy]

There are a few sites where you have to identify yourself with the KYC procedure when you register your own. Actually, that is also the most honest. That way you can never get conflicts or problems with bets placed. How many times have we seen gamblers make a deposit, place a lot of bets and then the gambling site steps in to say that the KYC has not been completed or that there is fraud or something like that? It's a shame it's like this, but it's the reality. By performing the KYC immediately upon registration, you prevent a lot of problems.

You should check the casino site you are using and old users will explain KYC requests, but almost all casinos recently will ask users KYC after account registration or after deposits and withdrawals, so KYC is inevitable if betting on every casino and but we should be aware of the use of KYC to enhance account protection and prevent crime from money laundering.

[Silberman]

I am not really against KYC, as it in a sense helps protect me from attacks and makes sure that nobody gets on to my precious holdings but only me. But I understand the logic behind the disapproval of implementing KYC by some users here. After all, cryptocurrency was made to offer freedom by means of decentralization and anonymity. The fact that they are implementing KYC just defeats the purpose all in all. Although for me, if you really just don't want to do KYC, which most reputable sites already implement, you must be willing to run the risk of less security given that there are no contingencies for when push comes to shove and you lose all your holdings to some hacker from who-knows-where.

At the end it is a matter of what you prefer? Do you want privacy or security? However the big problem those that would prefer some extra privacy have is that we do not have that option anymore, we do not really have a choice, everywhere you go and almost every service that you use asks for all kind of data that in many cases is not needed in order to receive the service you want, so it seems normal to me that those that are looking for privacy are not really happy with how this market is evolving, when one of its most basic premises was that their privacy will be improved.

[maydna]

There are a few sites where you have to identify yourself with the KYC procedure when you register your own. Actually, that is also the most honest. That way you can never get conflicts or problems with bets placed. How many times have we seen gamblers make a deposit, place a lot of bets and then the gambling site steps in to say that the KYC has not been completed or that there is fraud or something like that? It's a shame it's like this, but it's the reality. By performing the KYC immediately upon registration, you prevent a lot of problems.

You should check the casino site you are using and old users will explain KYC requests, but almost all casinos recently will ask users KYC after account registration or after deposits and withdrawals, so KYC is inevitable if betting on every casino and but we should be aware of the use of KYC to enhance account protection and prevent crime from money laundering.

More and more, we can't avoid KYC because this seems to be an obligation, and we also have to be prepared if one day a casino asks us to do KYC. And even though, for now, the casinos where we gamble don't require KYC, there is a possibility that it will happen, especially when regulators pressure the casinos to apply it to all of their members. But we can still hope that we will not be among the people asked to do KYC because we are just little gamblers trying to play gambling for fun.

[LUCKMCFLY]

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.

Well there are many policies of crypto casinos that should not exist, if we are in a casino that is really crypto, there should not be any type of limitation regarding your withdrawal, not even $2k or something, because the idea of using crypto is for skip all the rules imposed by banks, governments and sometimes it does not make much sense for a casino to have requirements similar to those of a bank, for that, it is better to use Fiat money casinos where it is known that a transfer can be made banking and they have all the data and there is total control over some user, and I don't think there is that much of a problem, but crypto casinos are now getting complicated from the start, and that makes many players leave.

[Pierre 2]

I think kyc system sort of kills the purpose of using cryptocurrencies. It feels lot more safe/independent to move my wealth through crypto because of obvious reasons. Many people prefer crypto to take a breath out of government controlled financial world.
When I think about casino side, they should always establish it in a relaxed law country. Giving exceptions to users that can move through some regulations may also help.

[RealMalatesta]

I think kyc system sort of kills the purpose of using cryptocurrencies. It feels lot more safe/independent to move my wealth through crypto because of obvious reasons. Many people prefer crypto to take a breath out of government controlled financial world.
When I think about casino side, they should always establish it in a relaxed law country. Giving exceptions to users that can move through some regulations may also help.

I think it is a bit about the fact that crypto and casinos or crypto and exchanges are different logics to begin with when you use them. The reality is that crypto itself, like bitcoin for example, is decentralized and that means there is no central figure that controls it, we are all in control and that means we could make it work without telling anyone who we are, not even a nickname if we do not want to.

However, if we are talking about an exchange or a casino that is run by a centralized organization, there is an owner at the top, and when you use something centralized like that then you are giving all the rights to your information away, and they can ask you for anything, it could be crypto or fiat or anything else.

[AicecreaME]

I think kyc system sort of kills the purpose of using cryptocurrencies. It feels lot more safe/independent to move my wealth through crypto because of obvious reasons. Many people prefer crypto to take a breath out of government controlled financial world.
When I think about casino side, they should always establish it in a relaxed law country. Giving exceptions to users that can move through some regulations may also help.

If you really don't want to undergo KYC, then just find another option that doesn't require one. Unfortunately though, most exchangers and casinos now require to undergo verification process before you can make an account. If you just want to have a secure place to put your crypto, one of the best option is to place it in hardware wallet or cold wallet which don't require information gathering.

However, if you are going to exchange your crypto in fiat money, you're most likely to uae an exchanger which in this current time is requiring KYC before you can process a transaction. I think it's just a matter of choosing your hard.

[maydna]

I think kyc system sort of kills the purpose of using cryptocurrencies. It feels lot more safe/independent to move my wealth through crypto because of obvious reasons. Many people prefer crypto to take a breath out of government controlled financial world.
When I think about casino side, they should always establish it in a relaxed law country. Giving exceptions to users that can move through some regulations may also help.

It seems so, but we can't do anything about it and hope there will still be casinos that won't implement KYC so strictly that we, crypto gamblers, won't think too much about it. People who know crypto is the right choice to escape the government-controlled financial world will continue to try to save their money in crypto so they don't have to think about regulations that can burden crypto users. The KYC system in online crypto casinos has now developed because more and more people who know crypto make the government want to know people who use crypto through implementing KYC.