The fear of KYC requirements

[len01]

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.  

Few days ago I was suggesting betnomi to do something similar. It was about proof of funds.

The casino's wants to keep it in their terms page so that clients do not see something scary in front of them before depositing money. Imagine if a casino is doing it, I believe the deposit ratio will drop dramatically.

i agree with you.
not everything in gambling has to be shown at the start and sometimes it has to be hidden so that new customers who want to try the casino site are not afraid to make a deposit.

some people may disagree with this issue, but it has become part of the casino's strategy to get more customers to register and make deposits on the site.

[Viscore]

Frankly it is an issue if you consider it as an issue. In long run KYC verification is important as you grow your account. Imagine a situation where you have ton of money in it and suddenly there is site crash or let’s say there is hack or something and your money is lost. You can always claim back your funds by show casing validity of your account. Because in above mentioned events things could go south to north quickly and they might start investigating about it. Since you will have your verification done you can prove your identity or in some extreme cases you will be able to file law suit against the casino if they deny the refunds or lost assets. If you don’t wanna get verified then decentralised casinos are there but who knows the validity of same?

I have to agree with this. KYC will never be an issue for those who understand the real importance of KYC verification but for those who only sees as a requirement alone rather than its importance, they will always have to say negative about it. Wait until these people will experience some errors in their deposits and quickly lost their funds, I don’t think they still have to question KYC when it’s the only way they can retrieve their funds.

[Wiwo]

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.

Yes, boss.
-The fact is that most casinos don't declare that term in withdrawal openly but we should know that most of them have a minimum of $2000-$5000 with no KYC.

-That is to say that, any withdrawal below the above-stated amount doesn't require KYC verification, but any amount above that amount will have to go through KYC verifications.

[molsewid]

I have to agree with this. KYC will never be an issue for those who understand the real importance of KYC verification but for those who only sees as a requirement alone rather than its importance, they will always have to say negative about it. Wait until these people will experience some errors in their deposits and quickly lost their funds, I don’t think they still have to question KYC when it’s the only way they can retrieve their funds.

Indeed , we will be just afraid only if the website is not reliable or we did not really know the website we are accessing that's why in my case I only make KYC in websites that I used to play with and also by my close friends referrals. I am not against to those new gambling or casino website online but we all want and need assurance that our identity is safe.

[Zlantann]

Have you ever seen an online casino website that displays, No kYC requirements or KYC requirements for **** amount of withdrawal before? And why won't any online casinos do something like this? I believe this is supposed 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.   

Government regulations are the main reason why most online casinos require KYC. These casino firms are mandated to implement these policies to curb money laundering and fraud. I am sure every reputable casino will clearly state its terms of operation so that clients will know what they are to expect. Gamblers should also read these terms of service carefully because ignorance is not an excuse. Clicking on the agree button without reading the terms means you have accepted all the casino's rules.

[freedomgo]

KYC requirements getting normal in crypto casinos.  Since the regulation and license is require for a casino to operate, they need to follow the law and KYC requirement is one of them.  There might be some casinos that does not require KYC for small time gamblers but once a player gambles huge amount of money, they are require KYC to continue.

KYC verification is unavoidable in due time, so I think we should accept the fact that if we want to gamble in a licensed casino we have to undergo KYC verification else, if you have fear of KYC better stop gambling at all, or look for a decentralized casino or worst for an illegally operating casino.  But of course, the latter is the worst choice.

People may have different views about KYC, but one thing is for sure, if you want to gamble more safe and secured, then chose those reputable casinos that have been in the service for years. If you don’t want to go through KYC, then chose where to gamble. In the end, gamblers will be left with no choice but to submit KYC details because those casinos who have no license will no longer be allow to operate, unless if they do it illegally, which will also put the gamblers at a very dangerous situation.

[BitcoinPanther]

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

That should be the case but the government wanted to control everything.  Under the disguise of anti money laundering law, they wanted to track peoples' financial activities especially in a platform where money laundering can easily be done like crypto casinos.

I think we have to accept the fact that playing in a licensed or regulated casino, we need to provide KYC documentation in order to access the platform smoothly if they wanted us to verify our account.  It is either to avoid to follow their requirements.  After all we are not forced to play in their platform but rather we are the one who wanted to.

[Vinaa77]

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.   

Many casino sites or online gambling do not require KYC. Most don't even require KYC. However, they still apply a minimum withdrawal amount, this is due to the amount of gas costs that must be incurred when making withdrawals.
KYC is not that important to them, because each withdrawal requires a confirmation email or SMS notification. So that it is impossible for someone to withdraw without confirming an email.

[Botnake]

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.

That's true mate. Unfortunately, these things are not that new to hear anymore and not that surprising. What's surprising to me is the fact that there are still a lot of people who are taking the bait just because they see a too good to be true advertisements from these kinds of sites who are saying that they are not requiring any KYC to their present and future clients but when it comes to withdrawal, they suddenly let their guards up and ask the clients KYC.

To me, the risks are the same because we don't really know these sites if whether they are safe or not. But to be sure, it's still best to gather some research first just to be safe and make sure that you are looking forward to be a client of a reputable site, and not some fake ads.

[dezoel]

I think I already saw a few of them. It was written on their ann threads and not on their website but it will be better if they include it on there as well since not all people are visiting bitcointalk. I agree that other casinos must follow this because it can give us a confidence that we won't be ask for a KYC if we are against with it but as long as we are only playing on the given limit.

This rule must also exist on older casino and not just on a new one because there are new players that will try to sign up on them. When it comes to gaining a costumers trust, there are still other things that a casino might show or add like showing their proof of funds, being active in their community, have an active promotions and so on.

[Fatunad]

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 wouldnt really be shocked if you do find yourself on reading up terms and conditions since on the time that you had made out some registration on a particular gambling site which it is mostly be stated
on their TOS but majority of us do really missed out on reading one.This is why you should really have the time and effort on reading up at least on what stated there on which you wouldnt really be shocked
on the time that they would be asking for some verification specially on the time you do hit up some big amounts or simply you had violated something which it is really that very
common for them to ask out.

[BitcoinGirl.Club]

i agree with you.
not everything in gambling has to be shown at the start and sometimes it has to be hidden so that new customers who want to try the casino site are not afraid to make a deposit.

some people may disagree with this issue, but it has become part of the casino's strategy to get more customers to register and make deposits on the site.

I think Stake is different in the case. I am not sure it still there or not but long ago there was a discussion where it was clear that before making any deposit Stake ask for KYC verification. It obviously filter a lot of possible abuse in the first place. Big casinos can afford that but for a casino which is raising and still working on their name, is difficult.

[Woodie]

Have you ever seen a online casino website that displays, No kYC requirements or KYC requirement for **** amount of withdrawal before?

These kind of KYC triggers were common with the exchanges and am surprised that this has come to gambling which really looks like a term that can be used to scam it's customers when they try to withdraw their funds when the time comes to get funds out and am hoping it doesn't end at denials of these requests.

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.   

The fact that you can't chargeback when it comes to crypto, any KYC regardless of amount really paints a bad picture and derails the trust in these services, honestly if its KYC they want they better say it from the on set not having it partly!

I wonder which casino has such terms,hope they aren't popular too..

[blockman]

I have tried to deposit into a known casino from the forum (not stake) and then tried to withdraw after playing there a few times. They're strict with their ruling and required me to do a KYC. I do get the reason why they're doing that and it just caught me by surprised because that's not what they intend to market and advertisement. It was really a different experience for me but I have to comply so that I can withdraw my money after the compliance, they allowed my cashout but I have never used them again because of that experience that I got from them. That's why those casinos that are truthful to their promises about being nonkyc as long as the withdrawals aren't that much and you've got no red flag from the casino's system upon withdrawal, that's what most casinos should try to copy.

[AmoreJaz]

I have tried to deposit into a known casino from the forum (not stake) and then tried to withdraw after playing there a few times. They're strict with their ruling and required me to do a KYC. I do get the reason why they're doing that and it just caught me by surprised because that's not what they intend to market and advertisement. It was really a different experience for me but I have to comply so that I can withdraw my money after the compliance, they allowed my cashout but I have never used them again because of that experience that I got from them. That's why those casinos that are truthful to their promises about being nonkyc as long as the withdrawals aren't that much and you've got no red flag from the casino's system upon withdrawal, that's what most casinos should try to copy.

and the problem is, they already have your docs even if you are not playing anymore on them. this is why, it is really important to choose which casinos or bookies we need to play, so we can limit our exposure of kyc docs. check also their ToS or license. if they have no license, wonder why they will be asking kyc from customers? also, don't forget to read their ToS regarding KYC reqmts, because if they state that they will require kyc at any time they deem necessary, then, expect that they will do require such docs.

[Mahanton]

I have tried to deposit into a known casino from the forum (not stake) and then tried to withdraw after playing there a few times. They're strict with their ruling and required me to do a KYC. I do get the reason why they're doing that and it just caught me by surprised because that's not what they intend to market and advertisement. It was really a different experience for me but I have to comply so that I can withdraw my money after the compliance, they allowed my cashout but I have never used them again because of that experience that I got from them. That's why those casinos that are truthful to their promises about being nonkyc as long as the withdrawals aren't that much and you've got no red flag from the casino's system upon withdrawal, that's what most casinos should try to copy.

and the problem is, they already have your docs even if you are not playing anymore on them. this is why, it is really important to choose which casinos or bookies we need to play, so we can limit our exposure of kyc docs. check also their ToS or license. if they have no license, wonder why they will be asking kyc from customers? also, don't forget to read their ToS regarding KYC reqmts, because if they state that they will require kyc at any time they deem necessary, then, expect that they will do require such docs.

Most of platforms now share up with the same terms and conditions with some slight changes of their own.If you are really in doubt on submitting id's or verification on different places then it would really be that ideal
or recommendable for you to stick into one place which you do seem the best of the best of your choice, but of course there are instances or moments which you do see or look interesting and this is why
you do tend to test out something and if ever it do ask out for some kyc then you would definitely be complying it because you are really that eager to play.

[harizen]

After all we are not forced to play in their platform but rather we are the one who wanted to.

As centralization is now slowly hitting other crypto-related services such as gambling, we can expect that KYC might be a necessary thing now in the future.

I really don't mind that stuff as long as I'm complying with it in a reputable casino and I'm really active doing it.

Outside crypto, I also currently playing with fiat online casinos and KYC is a usual thing there. I just become used to it that's why it's not a big deal for me.

[Rabi3]

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

that was the whole point of crypto, it was supposed to make us anonymous, without any info provided, but things are getting different now and everything in crypto is slowly getting KYC'D, Casinos online with crypto should not require KYC, it should be as simple as that, but governments are controlling crypto very subtle and slowly

[traderethereum]

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

that was the whole point of crypto, it was supposed to make us anonymous, without any info provided, but things are getting different now and everything in crypto is slowly getting KYC'D, Casinos online with crypto should not require KYC, it should be as simple as that, but governments are controlling crypto very subtle and slowly

With the current popularity of crypto, the government is trying to control it because they don't seem to like crypto being one of the choices for people to make payments.
And they started controlling the service provider to people by asking them to KYC their users.
Even though we as crypto users, don't agree with it, we have to obey the rules and it looks like in the future, KYC will become a must for users who want to use crypto.
So we shouldn't be surprised by third party requests for users to ask them to do KYC.

[Daltonik]

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.   

Well, first of all, on the contrary, the absence of mandatory KYC should alert the user and force him to conduct additional research on a platform that does not require KYC, although of course there is a gambling platform that has such a requirement.
Of course, the presence of mandatory KYC scares users, but on the other hand, it allows online casinos to meet the requirements for obtaining a license, no gambling institution will receive a license if it does not have a user verification requirement.