A way to attract new users or a misunderstanding?

[Eureka_07]

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I think the term Web3 has just become a marketing term nowadays to attract people (because of the hype).
Some casinos claim to be decentralized and would not ask for any KYC. This will only be possible if they are not under any regulatory entities, but we know already that most of them still need to get their license, and that would mean that they will be regulated, and possibly ask for KYC from their customers.

Please move this thread to the Gambling Discussion board (you can see the text-button on the lower left of this thread).

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[Ojima-ojo]

I think we should make one point clear here which is KYC and what it stands for casinos most especially cryptocurrency casinos and this has to do with regulation and if a casino wants to get licensed they have to comply with an Anti-money laundering policy which mandates casinos to collect their customer's information and documents for verification and it doesn't matter if the casino is a web 3 or not as long as their license.

So there is no need to get it twisted web3 or web 3.0 are all Basic terms but represent different aspects of the blockchain, and one example of web3 casino in the forum is owl casino, but I don't know if they require KYC to play on them since I have not played there before to know their demand or if their none KYC but I doubt that.

[Fivestar4everMVP]

We know very well that it's simply a way like any other to attract an audience to their activities.

many of these sites know very well that with the current laws they cannot operate by proposing a site without KYC and licenses, therefore they choose these marketing expedients. Maybe they have some * on their promo?!?

considering that bitcoin and other cryptocurrencies provide a level of "pseudo" anonymity such an activity is always borderline

<snip>

I think the term Web3 has just become a marketing term nowadays to attract people (because of the hype).
Some casinos claim to be decentralized and would not ask for any KYC. This will only be possible if they are not under any regulatory entities, but we know already that most of them still need to get their license, and that would mean that they will be regulated, and possibly ask for KYC from their customers.

You both are correct, there are some casinos I know that claimed to be web 3.0 based, and as such decentralized in nature, example is owl.games, though I personally love this casino.but for the sake of sincerity, I would say that their web 3.0 based claim is nothing but a marketing strategy, yes they do show some characteristics of a web 3.0 platform since users don't have to sign up but just connect their wallet, but the failed in the area of hosting games, the casino itself is a centralized casino.
So we can call it a centralized casino with a web 3.0 kind of login system, same type of login system etherdelta and forkdelta used in their days and claimed they are decentralized exchanges.

[BitcoinGirl.Club]

Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.

Decentralized blockchain, most likely useless local token. With that they are going to accept all existing token or coins including bitcoin is the definition I get when someone tells me about a Web 3 gambling platform. In reality it's none other than a shitcoin project but the difference is they are at least using their own token to use as a currency for their own platform.

[maydna]

In the future, all casinos may ask for KYC for all their members because the regulatory body oversees them so that there is no misuse of money in the casino. And forget about web3 or web4 or whatever because it's a business. The regulatory entities have to know everything about the business. Here, regulatory entities can force business owners to follow their rules.

I heard the term web3 this year, and it looks like it wants to be made into a new trend to replace the old trend. But I don't know. I just follow what's happening in crypto without worrying about it.

[abel1337]

Most of the project released today are claiming to be web 3 to be relevant to the current trend, No wonder that there will be casino that will integrate "web 3.0" into their branding. I believe that one characteristic of web 3.0 is being decentralized and those casino who claimed to be web 3.0 aren't fully decentralized if they collects KYC. Having a own casino token that can be used on the casino platform and having a integrated custodial/decentralized wallets isn't that much of a reason to claim a casino to be web 3. In my opinion it should be a fully decentralized casino, in short no KYC. So yeah until now I believe that web 3.0 word for casino are just for marketing.

[jostorres]

Web 3.0 has become bait in the past months and that's because people don't fully understand the concept, as OP mentioned, it's supposed to be for decentralized projects, but when people run a project with their own token while holding more than 20% of the total tokens, that's fully centralized. And that just brings more confusion about the Web 3.0 projects.

So, we can call it high-quality bait to attract new users.

I think most of those who got baited, didn't even care if web 3 is fully decentralized or not but they only got curious about that number 3.0 next to the word web. In their mind, they think this looks new and cool so they will check it out. I just noticed that every web 3.0 casinos do always have its own tokens. Why is that? Isn't it possible to just run a casino alone in the web 3.0 space without the token part?

But, I think not all of these casinos hold most of their tokens. They only want to be fair and they know that there are people who don't like it. Anyway, I am one of those who think web 3.0 is fully decentralized but I see that it wasn't so I am a little bit disappointed.

[Cling18]

Some casinos will do everything just to attract players despite their deceiving advertisements. I've come across a casino claiming to be web 3.0 but to my surprise after wagering and upon withdrawal, they asked me to submit the KYC requirements which made me lose interest in that casino. I guess that's just their marketing strategy since they all know that most players prefer casinos that won't ask for KYC.

[virasog]

Some casinos will do everything just to attract players despite their deceiving advertisements. I've come across a casino claiming to be web 3.0 but to my surprise after wagering and upon withdrawal, they asked me to submit the KYC requirements which made me lose interest in that casino. I guess that's just their marketing strategy since they all know that most players prefer casinos that won't ask for KYC.

First of all, if a casino is web 3, does it means that it will not ask for KYC 
Anyways i do agree that some casino just uses the hype of the latest technologies and try to gain customers which is very wrong in my opinion. Advertising is the right of casinos but false advertising is something that should be avoided. If any casino is found doing false advertisements, they may gain some gamblers for the time being but later the truth will be revealed, and gamblers will never trust that site.

A casino should focus on the true facts and not make false ads only to gain new users. If gambling sites do like that, people will talk bad about those sites and soon no one will play there.

[danadc]

There is no way the casino industry can shift to full and total decentralization because the authorities are fully aware of money laundering and scammers are using casinos to wash their dirty money, if a casino turns to full no KYC expect it to have a takedown notice coming from authorities, scammers and money launderers are always on the look for places to wash their money and Web 3.0 is a good place to do that.

There are still gambling sites that are decentralized and do not need KYC. One example is https://dexsport.io/.  I believe crypto developers are still planning to build a casino that is decentralized and does not need to provide KYC in order to play in it with peace of mind.  I think there are lots of online platforms built in dapps that will ensure us a decentralized gambling experience.

We all would like a completely decentralized casino but with the personalized attention that centralized casinos have, they believe that this is possible, but where would the funds come from, how could they maintain the advantage of the casinos and not come a very millionaire player and With a single play I was able to leave the entire casino, an unsettled entity? Because it can happen, when things are decentralized, players can always find a way to access the best vulnerabilities, and if this happens and if their customers are scammed, then who will they complain to if it is a fully decentralized casino? ?

[Ojima-ojo]

Many at times players are mid led by some casinos who failed to include the right information about their service and what it entails, some will not mentioned about kyx on their terms of service but when player register and start playing KYC will be enforced.

And there is a difference between web3 and web 3.0 the former is a network while the latter is just an operation on the network, most web3 casinos are also regulatory compliance and will demand KYC.

[o48o]

Is web 3 a misunderstanding word for some gambling crypto projects? I've come across few gambling / crypto projects that claimed to be a web 3.0 online casino and other but they still ask for KYC.
The definition of web 3.0 had everything to do with decentralization, block chain technology and token based economics as per what Wikipedia illustrated so why is identity/ verification integrated?
Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.

Web 3 doesn't mean it's purely about decentralization, it's a buzz word for combination of things, and in the center of it is ownership. Casinos can use blockchain, to confirm results etc, and some just call themself decentralized for marketing reasons. However no matter what their underlying tech is, if they are dealing with a casino license or fiat money, they are  required to do KYC if they don't want to get shut down and fined for not obeying money laundering laws

[Bananington]

Is web 3 a misunderstanding word for some gambling crypto projects? I've come across few gambling / crypto projects that claimed to be a web 3.0 online casino and other but they still ask for KYC.

Claims of their platform being web 3.0 can just be made to fool players that do not have good understanding of what web 3.0 should be but just know about it. It is a bad business practice to use false information to lure people to your business. Any gambling crypto project that uses false information in marketing should be avoided because it already shows that the tendency of not being credible along the line is there.

[dothebeats]

Web3 offerings from casinos is just another buzzword that they use to potentially invite in a lot of new players in their site. There isn't really any platform nowadays that aren't requiring new signups to not submit KYC because it will always be a requirement by the government. If they do not comply to this said requirement, they will have no other option but to shutdown or be prosecuted.

Perhaps if the casino operators know how to hide from the law enforcement then web3 casino may be a possibility. But if not, well, you know what happens.

Hello there!

TrustDice team here. We'd love to say non-KYC-upon-registration casinos do exist, and we are proud to be one! Our crypto philosophy is deeply rooted in blockchain, so we absolutely understand crypto users' concerns over privacy since we, too, are crypto users.

In the meanwhile, we do agree that "web 3 casino" is merely a buzzword that misleads abuser about the true technological foundations of the casino, which is sadly always a centralized operation (due to the present limitations of blockchain technologies at large). That's why we don't use such terms in any of our branding and marketing endeavors.

But there will come a time that users will have to do KYC anyway, so while users can create accounts with you without being gatekept by a KYC request, somewhere down the line they will have to face this and it's literally the same thing. Web3 offers none of that commitment, at least that's how I understand it, and truly decentralized gambling platforms will have none of the KYC requirements offered by the government. Well hopefully we get gambling platforms that will never ask for KYC in the future, but that is a stretch right now.

[Dunamisx]

We know very well that it's simply a way like any other to attract an audience to their activities.

many of these sites know very well that with the current laws they cannot operate by proposing a site without KYC and licenses, therefore they choose these marketing expedients. Maybe they have some * on their promo?!?

considering that bitcoin and other cryptocurrencies provide a level of "pseudo" anonymity such an activity is always borderline

There's no way they can hide under bitcoin just because they know it's decentralized but want to centralized people under it, alot of web3 projects has been seen to have progress to a reasonable extent but more works are still needed beyond they have attained because the world of digital technology itself revolves round about decentralized system, but i so much believe the gambling section will be among the first in lead to succeed through this.

[joeperry]

It is actually a both, though they are a gambling site with license which they would mandatory ask players to do KYC as part of their contract with the license provider but I think it is different if the gambling site offers a provably fair games but most of them offer a sports betting and casino which would required the users to submit their KYC.

As a player we should be ready to be asked a KYC assuming that the gambling site has a valid license.

[lienfaye]

Is this just a misunderstanding of what web 3 actually is? Or it's a way to attract people/users to make them think that their platform is more advanced?.

As what others already pointed out, clearly it's just their way to attract gamblers to lure them out to play on their casino. Then you'll only find out the real deal once you're slap to comply for kyc due to your huge winnings. So if you gamble online always expect the possibility to be asked for kyc because it's already common for a regulated platforms. Anyway can you name these "some" casinos claiming to be web 3 yet asking for kyc?

[fortunecrypto]

I've looked for a list of WEB.30 casinos and I found this list
https://bitcolumnist.com/casinos/top-web3-gambling-sites/ surprisingly some of the top casinos are on the list like Sportbet.io Stake and Fortunejack we have a good number of top casinos in Web 3.0 is the author right in evaluating them as Web 3.0 casinos as far as I know casinos on Web 3.0 are decentralized and you are linking your wallet for total anonymity and you are right that they should not ask for KYC, but it's really hard to be anonymous in the gambling industry where there is strong regulation.

[wxa7115]

We know very well that it's simply a way like any other to attract an audience to their activities.

many of these sites know very well that with the current laws they cannot operate by proposing a site without KYC and licenses, therefore they choose these marketing expedients. Maybe they have some * on their promo?!?

considering that bitcoin and other cryptocurrencies provide a level of "pseudo" anonymity such an activity is always borderline

Correct, while most of the time I do not mind a business trying to ride the wave and doing the best they can do to attract customers, I do mind when they do this based on lies and by taking advantage of the ignorance of their clients.

Web3 has become nothing but a buzzword to try to make a project to be part of this new hype, but which at the end it does no present the decentralization they claim, similar to what we see on any list of the top 10 coins in this market in which the majority of those coins are not decentralized either.

[noormcs5]

We know very well that it's simply a way like any other to attract an audience to their activities.

many of these sites know very well that with the current laws they cannot operate by proposing a site without KYC and licenses, therefore they choose these marketing expedients. Maybe they have some * on their promo?!?

considering that bitcoin and other cryptocurrencies provide a level of "pseudo" anonymity such an activity is always borderline

Correct, while most of the time I do not mind a business trying to ride the wave and doing the best they can do to attract customers, I do mind when they do this based on lies and by taking advantage of the ignorance of their clients.

Web3 has become nothing but a buzzword to try to make a project to be part of this new hype, but which at the end it does no present the decentralization they claim, similar to what we see on any list of the top 10 coins in this market in which the majority of those coins are not decentralized either.

Don't know if any serious business can do such cheap tricks to gain business and gamblers in this case. Marketing which is based on the false statement is not long lasting and sooner and later the people will realize it and it will bring more bad name to the gambling casino.

I am fed up seeing casinos with marketing stunts like it is a defi caisno, it is a web 3 casino , it is an NFT based casino and so on and on. Casino has no link to these terms but they just use these hype because they are trending in the market.