The fear of KYC requirements

[QueenVera]

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 has been a major issue in online casinos ever since licensing came into place and one thing you should know is that everything in life has it's positive and negative effects and KYC isn't exempted in this case as I believe KYC was initially introduced into gambling as a way to check the excesses of the casino on gamblers and also to help fight money laundering through casinos and that was why wagering equivalent of the initial deposit came into practice.
Most times I see alot of gamblers shying away from KYC and I believe it's as a result of wanting to stay anonymous especially when gambling with crypto but I personally don't have any issues with doing kyc provided it's a reputable casino.

[BenCodie]

There is one positive that comes from KYC on casinos. It stops people from gambling. Otherwise, it is totally wrong. Unless there is indisputable proof that funds have come from illicit sources, people should not have to sacrifice their privacy or identity just to be able to gamble. I would love to say that there is hope that one day KYC will just disappear. I believe that this is not the case.

Also, it should be noted that if all casinos decided to drop KYC, I do not think it would jeopardize their license at all. If anything, casinos use KYC to make more money than to actually vet deposits/withdrawals.

[Strongkored]

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?

Casinos use terms like that because not all players will be involved in gambling using big money, casinos expect to get a high roller but also they will not ignore small players, so they seem to apply rules that contradict one another, but that's all casinos apply definitely based on the license from their gambling site, if casinos can continue to operate without having to comply with the rules for asking KYC from players they will definitely prefer without requiring KYC, because with KYC obligations they have to do other work such as saving KYC data properly or the time they have need to check KYC whether genuine or fake also means needing a source for it.

[Fundamentals Of]

Casinos do something like that because amount matters. If you are an ordinary gambler playing minimum bets occasionally, why would the casino implement a stricter policy on you? Are you are possible suspect of money laundering or terrorist financing? Of course not.

But if you are a high end roller depositing millions, betting millions, and withdrawing millions, then you should be asked for personal information. You are the kind of gambler that is more likely to be involved in activities that KYC is primarily designed to counter.

[Don Pedro Dinero]

I would love to say that there is hope that one day KYC will just disappear. I believe that this is not the case.

Also, it should be noted that if all casinos decided to drop KYC, I do not think it would jeopardize their license at all. If anything, casinos use KYC to make more money than to actually vet deposits/withdrawals.

The opposite is true. Years ago KYC was not common at all, and little by little it has been introduced by almost all casinos. I think it is more because of international pressure than willingly, otherwise they would have been accused of favouring money laundering. When they apply for a licence they have to put some KYC measure in their ToS, otherwise they are not going to be approved, even if the licence is from Curaçao and often for show.

Another thing is, as has been mentioned, that some casinos do not ask for KYC documents until the player has won a good amount and plans to withdraw, which does not give a good impression.

[libert19]

I am always hesitant to give kyc and if any platform is not clear-cut about kyc requirement I avoid it without a single second thought. This also one of reason I stick to on-chain casinos, no funds stuck, no reason for kyc.

[krishnaverma]

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.   

Such a platform with no kyc will have own audience. There are many people who do not want to share KYC with platforms and thus they will prefer to play on these casino websites. But we should also think from the casino operation level. Many countries have laws which require KYC for them to operate. Thus they cannot skip this part. There are many reputed casino websites which take KYC but still have lots of registered users. This is because they have trust of users that they will not misuse the data in KYC ever.

[coin-investor]

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 has two faces to protect the casino from money launderers and from cheaters and stealing from players who won a big amount of money with questionable status, legit casinos implement the former, and scam casinos do the latter, so it all goes down on the kind of casino you're playing, majority of us don't want KYC but its a necessary evil and I guess it will stay on until there's a better option for legit casinos to check their players.

[Pierre 2]

I think I can agree with people saying in this thread that its dangerous to not use ID if your account grows. But there are too much risk involved. I wouldn't want someone other to steal any data/information about me. Of course better gambling websites can combat hacking issues but some others can leak kyc data... So this topic is little grey for me. I dislike kyc a lot, but risks are two sided to to support one side or other.

[Oasisman]

They're not gonna display it on their homepage as a potential client may not going to proceed in using their online gambling service because of the KYC. So they are usually found after you have registered, some even popped up when you have a specific amount in your account and they're preventing you from withdrawing your money unless you comply with the KYC.
That's how dirty some online casinos are.
And yeah I agree with the OP that online casinos should put KYC requirements in their homepage to make their clients aware of what's in it for them with complying with the KYC.

[lienfaye]

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.

Many gamblers prefer to gamble in platforms without kyc but nowadays it became a normal thing if the casino has this requirement. This is to abide the law to operate legally.

Moreover, it's better for the casino to he honest rather than lie about their kyc then will ask the players suddenly if they reach a certain limit to withdraw because it can affect their platform negatively. As i've said before, we can always choose where to gamble so if you don't like casino with kyc then stay away and look for another.

[piebeyb]

as far as I know there are some casinos that write "No KYC" and some that write KYC required, there aren't many but it should be written down so that people who don't like KYC can stay away from casino sites that require KYC, especially for new gamblers who might don't understand that as long as they join without having to read the terms and conditions of the casino whereas old gamblers usually know which casino sites require KYC or not.

[slapper]

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 has been a major issue in online casinos ever since licensing came into place and one thing you should know is that everything in life has it's positive and negative effects and KYC isn't exempted in this case as I believe KYC was initially introduced into gambling as a way to check the excesses of the casino on gamblers and also to help fight money laundering through casinos and that was why wagering equivalent of the initial deposit came into practice.
Most times I see alot of gamblers shying away from KYC and I believe it's as a result of wanting to stay anonymous especially when gambling with crypto but I personally don't have any issues with doing kyc provided it's a reputable casino.

Your assertion is absolutely spot-on that KYC has its advantages and disadvantages. However, it really makes me ponder, is KYC merely a fancy word for "prying into people's confidential information"? I mean, how can we be certain that the gambling establishments won't exploit our information? Perhaps they're stealthily accumulating a database of their customers to take control of the planet! Alright, maybe that's a tad too extreme, but you catch my drift. Honestly speaking, I do believe KYC is necessary to combat money laundering, but we must also be vigilant about the handling of our data.

[Jating]

I am always hesitant to give kyc and if any platform is not clear-cut about kyc requirement I avoid it without a single second thought. This also one of reason I stick to on-chain casinos, no funds stuck, no reason for kyc.

We are always hesitant to give our KYC because obviously it's our personal info and we don't want anyone, not even gambling casino to have it. But it is starting to be the norm now, so we must be very careful on what casino's we trust.

Fortunately, I haven't been in the situation wherein I have to submit my info to crypto base casinos,

Maybe I'm not just a big player or I'm just playing minimum though. But for those who have experience, yeah it really sucks when suddenly they are going to ask for those kind of personal information just to withdraw your winnings.

[348Judah]

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?

They wouldn't because if you're also a businessman and want a customer patronage you wouldn't have wanted to do something that may scare them away from patronizing you, if you see a KYC casino you should be able to identify one, only few casinos are not KYC required casinos and there's nothing you can do to avoid them from demanding for KYC information than choosing another that does not require such.

[acroman08]

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.   

yes, I've seen casinos that have this kind of rule on their ToS before(but I can't remember which ones). but before someone go and try out a casino with this rule, they should also know and put it in their mind that the casino can still ask you for your KYC even if you haven't reached X withdrawal amount.

[iv4n]

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.   

yes, I've seen casinos that have this kind of rule on their ToS before(but I can't remember which ones). but before someone go and try out a casino with this rule, they should also know and put it in their mind that the casino can still ask you for your KYC even if you haven't reached X withdrawal amount.

I have seen it as well, and I think it's some new casino, but I can remember which one exactly and where I saw it, KYC for deposits/withdrawals over 2 BTC...

KYC shouldn't be an issue for fair players. I personally don't like it, and I avoid it whenever I can (whatever service it is) but if I have to pass it in order to use some service I really like, or I have some money stuck and KYC is a requirement, I will simply verify myself.

We can talk about rules, but rules can be bent for any reason and services usually reserve the right to do that in some "special cases"... small letters are the ones that are f. us.

[michellee]

It's like the unwritten rules of a casino that maybe we won't find clearly from the requirements in the list of terms and conditions from the casino. But we can try to find out by asking directly through customer service to get the answer.

The casino should provide clearer information regarding KYC requirements before or after or even what the limits are on the amount of money that can be withdrawn by a free member who does not require KYC. It can also give confidence to its members not to try to exceed the limit on the amount of money we can withdraw from the casino without doing KYC.

[Cookdata]

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.   

Doing KYC and documentation on any web platform is bad because you don't know who is dealing with your details. What people don't realize is that they can profile you at any time, the government can demand it whenever they feel like it, and your documents could be sold on the dark web to people who are into bad things. This is the disadvantage of KYC and how it may affect people who do it.

The issue here is regulation, even if casinos don't recognize it, and what do you do as a business entity when you don't obey rules, they will sue your company and ask you to pay for damages, so I don't always blame the casino companies, the financial regulators are always on their neck with KYC implementation.

[Gozie51]

What I know is that some casinos conceal the withdrawal aspect and they don't make it open to the public at the point of registration and when you have made profit to withdraw then you realize the limit to withdraw without KYC and limit with KYC. This I think should be explicitly stated so that bettors will have an idea what they are registering on.