The fear of KYC requirements

[BVeyron]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

KYC, I think, is required due to financial laws. Crypto laws are still not well established in most countries, and especially these problems appear when the deal faces the court, so no proofs of stake belongings, no ways to identify gamblers and/or casino owners... It makes all (not only gambling) online and crypto services create KYC systems. IMHO, however, KYC will poorly protect customers in trials, especially if the trial is gambler vs casino

[rahmad2nd]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

So far, KYC has always been a frightening specter for gamblers in our community. However, most of the leading casinos that we have have KYC features, although each casino has different requirements for their implementation. To be honest, I'm not really aware of the terms and standards related to KYC at every crypto casino we have here. because, I only use 1-2 crypto casinos.

So, I don't mind doing it because the casino I use is a casino that has a reputation that can be trusted. this is a common problem, just like it was originally when exchanges required each user to meet KYC requirements. gradually, KYC will become commonplace for us gamblers. because, every licensed casino requires its customers to meet requirements involving KYC.

[erep]

So far, KYC has always been a frightening specter for gamblers in our community. However, most of the leading casinos that we have have KYC features, although each casino has different requirements for their implementation. To be honest, I'm not really aware of the terms and standards related to KYC at every crypto casino we have here. because, I only use 1-2 crypto casinos.

So, I don't mind doing it because the casino I use is a casino that has a reputation that can be trusted. this is a common problem, just like it was originally when exchanges required each user to meet KYC requirements. gradually, KYC will become commonplace for us gamblers. because, every licensed casino requires its customers to meet requirements involving KYC.

Some people argue that KYC is requested because it relates to casino regulations and licenses, previously KYC requests were only optional rules that might be needed at any time and now KYC rules have been increased to make it mandatory for all users to have an active account with the withdrawal feature.

Actually it's not too different from an exchange account, but traders and investors don't complain about KYC problems and they have embraced KYC at the most affordable casinos, so why do you hesitate to complete KYC at a trusted casino?

[Hispo]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

Knowing how the crime syndicates work here in my country, if casinos allowed users to deposit and withdraw a significant amount of money without KYC, let is say between 500$-2000$, they would use this for their own advantage to launder money.

The criminals would offer people to open an account on the casino an launder the minimum amount for them (they would not explicitly say they need to launder money, but rather would offer some excuse or story about why they need to use other's account) in exchange of a small commission, since the economy here is very bad, there would be people willing to do so for 5-10$. The result would be hundreds of thousands of USD laundered.

[Lida93]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

Every casino has a KYC as part of their operations policy, you might not get to know this as a new users not until you have won a good large sum of money then boom, KYC requirements will be thrown to you as part of the withdrawal process. But in all of this I literally think that KYC is to the advantage of the gambler as identity theft is well reduced through KYC giving you the gambler a level of satisfaction about the security of your account and any money in it.
It's only gamblers with a dirty intent that abhor KYC thereby wanting to use a fake registration to defraud or flaunt the casino's terms of gambling. The underlying issue here is that as an online gambler KYC should be taken into mind as a thing of necessity that every legitimate online casino may require of you presently or in the future as their reputation and security data depends basically on it.

[Fortify]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

You are faced with a catch-22 scenario when it comes to know your customer enforcement. Many of the biggest sites will ask for it, or at least the option to require disclosure of it in their terms, because they are based in jurisdictions that require it from financial regulators. These jurisdictions are actually beneficial to the majority of players because it means that the gambling company is less likely to vanish with their money, commit fraud and be subject to court systems that can be used to enforce laws in the favor of the customer. Whereas sites that operate outside of these jurisdictions are slightly more likely to operate in wild-west territory and may even be more vulnerable to external threats because they cannot use legitimate services in properly policed legal systems.

[Fivestar4everMVP]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

This is a great idea I must admit, but unfortunately, I don't think any casino would want to make their stand on kyc generally public since it's already in their terms and conditions, but then again, the issue is that most gamblers don't read before really commiting themselves to gambling on any casino, don't be surprised that, after casino makes their stand on kyc public with all the details, some people will still not read it, and will still go on to break rules that govern the casino he or she is playing on..

[molsewid]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

It will be my first time hearing this one, all of the casino website I know requires KYC, if not maybe you should stay away from it? It is very unusual that they don't need to kyc their member not unless it is a new website casino and they will start to accept few numbers of people that will not be required. KYC is a good thing, it will give us security in our part and I do believe that they will not accept it somewhere.

[PX-Z]

A kyc-required casino is a normal thing now, as it operates as a registered business that follow casino regulations and AML laws. The only different is the approach of requiring its users for kyc. Some asks upon registration, some ask when you withdraw any amount, and some ask when you withdraw a large amount say $1k above.
Well, i always use a casino that ask the latter ^{(ask kyc when withdrawing large amount)} or not at all.

KYC is a good thing, it will give us security in our part and I do believe that they will not accept it somewhere.

It is not, kyc doesn't mean security by any means, it won't protect you from hack, scam or it wont protect you towards the casino for handling a selective scamming for some. Stop assuming kyc is equal to security or what.

[Baofeng]

It may depend on their license as to whether they are even allowed to display that message. Casinos with a fake license or no license may display that message to try to get users to deposit and then KYC any wd to keep the funds.

True, that's one way to attract new users to their platform, put the magic word, "No KYC", but then when the users won big money and wanted to withdraw that's when some casinos stop them by asking personal documents and go thru KYC. And that's where all the accusations started because of this. So still up to us to be very careful specially new casinos popping up regarding KYC and withdrawals rules.

To me KYC is bullshit honestly. We make our crypto however we make it. We should be able to spend it however we want.

I guess KYC seems to be mandatory right now. Gone are the days wherein you just need a bitcoin address for withdrawal and then you are all set. So it's either we adapt or guess be selective of casinos that we are going to play as not to get trap by this whole KYC when we won.

[robelneo]

     But there are other casinos that immediately say that you need to submit a kyc, which for me is okay because at least they are transparent and don't hide anything from their future clients. And in this style of casino it has a good impact at least I think.

I can easily trust a casino that right away stated in their TOS that they are doing KYC to protect their platform from becoming a money laundering venue and to verify that the player is not violating their rules when it comes to multi-accounting.
No KYC gambling site is suspect and questionable how would they protect themselves from multi-accounting and from people using their platform for money laundering, if they have other means and methods then not asking KYC is not an option but so far doing KYC is the only available option.

[Wiwo]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

We have tons of no kyc casinos around and infact yoh can withdraw a large amounts from most casinos without being asked for KYC verification, this is so because popular casinos like stake.com allow players to withdraws hundred to thousands of dollars in cryptocurrency without KYC.

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[dothebeats]

There are some casinos out there that uses their "no KYC requirements" adverts as a leverage to gain more users who are looking to play in a casino that doesn't ask for these things. There are still a lot of them out there up until now, though dealing with these casinos can be pretty tricky given that most of them ends up being a scam site. There aren't a lot of legitimate casinos left with no KYC requirements nowadays, because most have transitioned to no KYC upon registration, but upon winning X amount you'll be required to submit them.

[tiCeR]

It may depend on their license as to whether they are even allowed to display that message. Casinos with a fake license or no license may display that message to try to get users to deposit and then KYC any wd to keep the funds.

To me KYC is bullshit honestly. We make our crypto however we make it. We should be able to spend it however we want.

KYC is used as a shenanigan in most cases anyway. Most of the casinos aren't doing it for reasons to comply with AML and KYC regulations (if they follow any regulations at all...).

Whether they do or don't display that message on their website might as well be a strategic thing just in case. I think so far I have never seen a casino that explicitly says on their website to not ask for KYC data. If I were operating a casino I wouldn't put it out there in public. I'd rather say on the website that I do ask for KYC and then just not conduct it and people will get to know by word of mouth. I guess it is even more likely for casinos to get into trouble when they refuse to collect data that they would actually have to collect according to the law and regulations.

But as has been said here already, you are good to go for as long as you lose anyway. As soon as you win big it is more likely you are going to run into trouble with KYC. That is the sneaky part because people who don't want to undergo KYC also might not want to undergo KYC even after a big win and that is what the casinos know as well. There is a reason for people to avoid casinos known for collecting KYC data. Once they win big, the casino just takes it to the limit and keeps asking for data until some players are even willing to forego their winnings and just leave it.

[The Sceptical Chymist]

As far as I know, there are casinos here in crypto gambling that announce that they do not have KYC for their future players on their gambling website platform, but when a withdrawal of a large amount comes, other casinos suddenly break or destroy what they first announced, that's why gambler is suddenly making accusations against the casino platform.

That's the straight-up truth, Ruth.  I don't know how many threads I've seen in which the exact scenario you described came true for some unlucky winner.  And the sad fact is that it isn't just casinos, either.  Exchanges have been known to do likewise; they just bury the KYC terms deep in their ToS so people think they're dealing with a non-KYC exchange....until you try to withdraw a large amount of crypto, and then they start asking for your photo ID and all that shit.

I didn't even think there were any online casinos that could get away with no KYC measures, regardless of what country they operate out of.  If there are, there can't be that many and if there are a lot, that number is sure to drop off a cliff once regulators start doing their thing.

[o48o]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is suppose to boost users and players confidence when they are about to try out new gambling platforms for the first time.

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

Because sometimes you would need to kyc some accounts that have potentially created multiple accounts so that they can withdraw that $**** multiple times and prevent them use it as a loophole. Things wouldn't be that simple, or that you suddenly accidentally used ip from your home country that's under sanctions. You would also need to prove that you are not from that country.

If it would be only matter of how much can be withdrawed from casino no questions asked your question would be valid but it's more complex than that.

[Stedsm]

Yes, I've seen some casinos doing false marketing first that they don't need your KYC at all, then at some point, they start asking for KYC. That's either because they are suspicious of an account doing something wrong to gain more from their bonuses or doing inverse bets on 2 or more accounts (having 2 or more accounts on a casino is strictly prohibited IIRC), or they do it because they don't want to pay the player his winnings as they are very huge in number. These practices aren't new in the gambling industry.

[harizen]

I believe this is still affecting online gambling platforms because this is one of the most common issues that online gamblers are still facing.   

Didn't you know that in online fiat gambling sites, KYC is just a common thing?

The KYC thing is an issue here in crypto-gambling but not in fiat online gambling.

Since most here are crypto-gamblers, expect that KYC is a sh*t requirement for them. But for me, if the site we are talking to is somehow reputable, I don't mind complying with KYC, only if necessary to do so.

[noorman0]

Companies are more worried about their services being forcefully shut down, so they're actually rather indifferent to your fears. After all, "privacy is important" gamblers are slowly becoming a minority as more conventional gamblers arrive for the broader gambling experience. But the concern will remain for those who are dealing with a foreign casino for the first time, maybe they will do KYC in the first place to get legal guarantees. Casinos will be fine when KYC policies will be welcomed for most customers.

[alegotardo]

As far as I know, there are casinos here in crypto gambling that announce that they do not have KYC for their future players on their gambling website platform, but when a withdrawal of a large amount comes, other casinos suddenly break or destroy what they first announced, that's why gambler is suddenly making accusations against the casino platform.

     But there are other casinos that immediately say that you need to submit a kyc, which for me is okay because at least they are transparent and don't hide anything from their future clients. And in this style of casino it has a good impact at least I think.

This happens because a few casinos act in bad faith.
I never needed to withdraw large amounts from a casino, in fact I don't remember when was the last time I withdraw something from a casino, as I usually spend everything I deposit.
Anyway, what happens in some cases is that the T&C deceives users by saying that they do not require KYC, but they say that the casino can adopt security measures when it detects suspicious activities or that deviate from the standard, which involves the request and sending of documents user evidence, that is... carry out the KYC, but in "other words"

As much as it is essential to read and understand the T&C, I myself have never been able to fully understand them on the sites I frequent, either because they are extensive or because they have too much technical language.

The best solution is to always bet on reliable and reputable casinos, so that when the need arises you can have adequate user support or come and complain here at BitcoinTalk.