Who is to blame

[madnessteat]

^

I don't think casinos or other companies have become any safer since KYC was introduced. The amount of fraud on the internet is only increasing every year. Casinos require a user to pass KYC, because they operate in jurisdictions whose regulators require it.

How does the casino benefit from KYC? - Only identity verification, which helps to fight abuse.

In my opinion the introduction of KYC for casinos is a forced measure, as it's quite a costly procedure, moreover it doesn't give 100% guarantee of true identification of the user.

[1715327477]

1715327477

[1715327477]

1715327477

[darkangel11]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

The governments are responsible for this mess. They want to control everything and everybody. They don't want anybody to do anything without their permission. The casinos are also responsible because they still haven't ditched FIAT completely. See freebitco.in they don't deal with FIAT or stable coins and they don't do any KYC. They don't have any licenses too.

It is that simple to get rid of KYC:

Do no license

Do no FIAT

That's correct if they'd drop fiat payments they wouldn't need KYC, but they feel like they don't lose anything bu getting regulated and obeying AML rules. They don't risk anything by processing your documents, you take all the risk and they get the ability to receive fiat payments. For the casino it's a win -win scenario, even double win if someone deposits money and then fails the KYC and once in a while people do. There's at least 1% of users who for some reason want to cheat at KYC, provide fake ID and get banned. This means that the casino gets to keep their money.

[BigBos]

I think This is nobody's fault, you don't need to look for who is at fault because indeed it is a normal thing in the financial market including in gambling, but yes as we realize there is no longer anonymity in gambling just like when we use a centralized exchange that is you have to do KYC first. I'm sure those on this forum have done KYC on centralized exchanges, so I don't think there's anything strange.

Luckily I had registered before the KYC policy was applied so I didn't need to do KYC to play.

[livingfree]

Because it's a growing industry and also, the government is aware of some money laundering that can be done there so they're asking these casinos to help them through regulation.

They're not asking them directly but they're forcing them to participate to these regulations and no one can complain with that if they ask to.

I guess everyone is missing the early days of crypto casinos that it's not much of a hassle and everyone's like gambling wild and free.

[mdzahed134]

How possible to control money laundering or others criminals activities without asking KYC? Even while government is involved here and they want to monitor this business it’s another reason to ask KYC. And i think it also a matter of money security issues. But still you can use so many gambling sites without KYC verification.

[pixie85]

How possible to control money laundering or others criminals activities without asking KYC? Even while government is involved here and they want to monitor this business it’s another reason to ask KYC. And i think it also a matter of money security issues. But still you can use so many gambling sites without KYC verification.

By not allowing people to exchange their cryptocurrencies into fiat money and simply dealing with crypto.

The point where the user exchanges fiat for crypto and the other way round is the point where the money gets laundered and these companies should verify users. Why would any government agency care what a user who got paid in bitcoin does with it? After all the struggle they still own cryptocurrency that needs to be declared and taxed when a users decides to sell it.

[Hispo]

It was not necessary to open a thread only to talk about this again, next time please try to use search feature of the forum to make sure you are not making questions which were already answered in the past.

Anyways, I do not think there is someone so blame about the situation with KYC (as others have said). Whether, we like it or not, this was something that was expected from authorities to try to slow down criminals from abusing casinos to launder money and other illegal activities.

Blame the criminals that make life harder for all legitimate gamblers on the planet.  

[nakamura12]

You can say that  we should blame the criminal for such reason. Why would casino ask KYC if there's no such thing as money laundering?. If no one will launder money then casino won't require KYC to withdraw or to register and won't have problems in the future regarding same problem. You can read some post here that to not allow people exchange crypto to fiat which will prevent money laundering. In my opinion, it doesn't solve money laundering at all, why would you exchange crypto to fiat to launder money when you can launder money by crypto and the receiver will receive crypto and then sell or exchange it to fiat then that's the same as laundering money through crypto to fiat. That's why they have to ask for KYC for that reason.

[chaser15]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

Since gambling involves money, gambling sites should be regulated. In case of scam, where these users can find any help? At least with a gambling company being regulated, authorities can hunt them down.

I know others don't like the idea of KYC but what else can we do? As long as it's not mandatory, I'm fine with that.

We have two options; comply with KYC or found KYC-free gambling sites.

[fullhdpixel]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

The truth is that, KYC and Regulation are related. If a casino is regulated then expect KYC is one of the things that are involved. Indeed OP, the past gambling experience here in cryptos are the best because there's no KYC shit that time. Not only that but there is also no such thing as sign up but gamblers can play directly and then their winnings are automatically being returned to the address that they used to bet.

I think this was called on chain betting. Sadly most casinos now have evolved but not really for the better. I noticed that the same thing happened with crypto exchanges. The essence of cryptos being decentralized are slowly being removed.

[harizen]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated?

It's the other way around. Online casinos being regulated is the reason why KYC becomes a thing. But it's not that KYC is aggressively enforced.

And let's not generalize it, if you are referring to a fiat online casinos, expect a mandatory KYC there at most sites. On the other hand, if you are referring to crypto online casinos, KYC is still not strictly enforced there even for top crypto-gambling sites.

Read the terms if KYC is being imposed before playing. If not disclosed, you have lots of references here on what crypto online casino should you consider playing with without worrying about anything related to KYC or any forms of verification.

[serjent05]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

No, it is the regulation that brings birth to the KYC requirement.  I think you had taken it the other way around.  If there is no regulation, there is no need for KYC and since the casino needs a license to operate legally, they have to comply with the regulation.  The regulation stated that there is a need to comply with AML thus in order to know the source of funds of their customer, the casino needs to implement KYC which is also required by the regulation.

If we have to trace the need for KYC then we have the AML for that.  The requirement for AML is the reason that gives birth to online casinos getting regulated.

[DoublerHunter]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

^Because it is government's required.
As we know the government combating cyber crimes fraud or any money laundering, was their mission to stop cybercriminals.
No one to blame here, it is just preventing to happen a possible fraud that could exploit someday. As I can see, most of all financial institution has been regulated by the government, not on gambling but also by those exchanges. KYC helps to reduce cybercrime and I think its a way to help those who are the victim of those crimes so I think that is normal now that there is a KYC procedure.

[bitcampaign]

there is nothing to blame because there are many cases of money laundering or crime in the internet world so that casino regulations are more stringent, actually if you are a small gambler you don't need to follow the requirements to complete KYC usually only big gamblers will be asked for it, you can try some other casinos to make you comfortable without having to KYC, try to find information about the casino in this forum

[goinmerry]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

There are users who ended up being scammed by some gambling sites that are not regulated. Where are these users complaining? To the authorities that even don't how to help these users because there was no way to file a lawsuit against the scam sites involved.

Because of being regulated, a gambling site exposed their real profile and that's good for transparency as it involves holding their user's money.

Not an assurance that we are safe but at least, we have a reference for who they are.

Expect that we will face KYC in our preferred gambling sites in the future. It's not new and should not be a problem if we are complying with KYC with a reputable gambling site. No difference when we are submitting KYC to other companies with the same reputation.

[OgNasty]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

I think that’s a bit backwards. It’s the regulation that caused casinos to require KYC in certain countries. I’m sure the casino would rather not have to hire staff to deal with KYC or develop solutions for submitting and verifying KYC. It would be much cheaper and easier on them to just not have to worry about it or care. So it definitely isn’t the casino’s fault. Regulation is inevitable anyway.

[agustina2]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

Why should be there a blaming game? Regulations hit hard these gambling companies nowadays and no choice but to comply with them.

Don't make that general though as if we talk about crypto online casinos, KYC is not even forced.

Nothing to worry about and don't mind that for now. Just enjoy gambling on your favorite crypto casino on your usual.

[samcrypto]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

Regulation is the reason why KYC is being asked, and no one is to blame for since that is expected as we push for the mass adoption. Other site is still KYC free, many are still taking advantage of it but be ready because they can asked for a KYC anytime especially if the regulations will be more strict to them, it looks like inevitable now.

[Fivestar4everMVP]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

I think its the other way round buddy, regulation came before casinos started demanding KYC from gamblers, so in other words, it is actually regulators that mandated online casinos to start demanding KYC verifications from gamblers.

Though it is certain that most gamblers do not like the idea of having their private documents handed over to people they not know all for the purpose of gambling, we still can not rule out the fact that kyc requirement have actually saved casinos from several misuses , like casinos being used as a means to launder money, KYC verification has scared and kept most of the perpetrators of this kind of acts way and made casino platforms safer for the ordinary gamblers who do and enjoy their gambling activities in peace.

[Chikito]

Is the requirement of KYC from online casino the reason that gives birth to online casino getting regulated? I mean in the past there is no regulation thing pointed to online casino but now all eye are on them for a must regulation if they want to keep their platform alive and functioning.

in the past when online casinos didn't much sprout like today. the regulation is not necessary to implement because not many people used it and got scammed. I don't live where casinos offline only in like vegas, but I believe with that time when people want to visit the casino offline will get the same situation must prove their ID card. So I don't surprise if want to visit the casino KYC is a must KYC, because the KYC now is same as have plane to some place, if you don't enough age you can't go to every where.