Is Stake.com allowed to lock account with $6,000 untill I lose it all?

[AHOYBRAUSE]

Most comments here say do KYC before starting to play. I also do that and it's a smart way but some people still value to keep their personal information safe.
Also, if KYC is so important they should just make it mandatory before you are able to make your first deposit.

It is unfair to be able to deposit and not withdraw. It's basically the same as making an investment in Logan Paul's crypto zoo, you can invest but it's not a given you see your money ever again.  

KYC is general is understandable but this "level 4 verification" with proof of funds is just too much.
I played and was limited at countless FIAT sites in the past, at every site I went through full KYC and never in my life I have encountered a proof of funds requirement situation, not once. This just came recently with these crypto casinos ans sportsbooks and this development it not nice.

I for myself wouldn't know how to pass this level. My funds came from several places, some of them are hard to document as they were for example translation works that were paid basically in private, without a bill or whatever. As some guy in a scam accusation stated, he got funds from winning at a different site, then gambled with these funds at stake. They didn't accept this explanation, even though he sent screen shots. That's so strange and totally stupid actually.

They say it's to prevent money laundering, but this only happens after you win and/or you are in profit. If you lose the money they don't care where it came from and are happy to take it.

[robelneo]

I don't wish to dwell on this matter any longer, but I would appreciate hearing your thoughts. Personally, I feel that this is a highly questionable practice, allowing users to continue gambling while demanding verification for withdrawals, and then conveniently erasing the tickets and evidence. It appears to be nothing short of shady and potentially predatory to me.

Its a trap it's not only at Stake I remember one story on one casino, the same incidence, and the same player experience, but there are other players who can control their urge to bet although they are allowed to bet, they must have known based on your bet history that you are a habitual bettor and you are likely going to bet under any circumstances and they are right.
The only solution for this is to shut yourself from betting or bet on other casinos with an allocated amount, every player will experience, and only on his level of control can he beat the casino's temptation.

[cicadasTR]

And it happens sometimes when a platform doesn't accept the documents of a player and asks for reiterations and it's a normal thing, a player needs to reconsider their submitted documents, check for errors and mistakes, and then resubmit them again or simply submit another document for it.

You are way too naive. Do you really think that's the only reason why casinos do this sort of stuff? It's not that simple. They use these tactics to make the player use up his/her funds in order to avoid paying them later.

This particular tactic works quite often since many gamblers are impatient leading to them gambling away their funds and getting screwed in the process.

I have tried explaining this many times. Most here are betting $2 and/or are beyond help. Save your energy.

[Fivestar4everMVP]

I don't wish to dwell on this matter any longer, but I would appreciate hearing your thoughts. Personally, I feel that this is a highly questionable practice, allowing users to continue gambling while demanding verification for withdrawals, and then conveniently erasing the tickets and evidence. It appears to be nothing short of shady and potentially predatory to me.

Even crypto exchange where I trade, (all of them that ive used), still allow customers to trade, buy, sell, coins while the customer is suspended from withdrawing due to one issue or the other, this is something I have personally experienced myself on not just one or two exchanges but on as many of them I've used and had minor to serious withdrawal issues.
So I do not see this practice as evil in any way, you simply was the one who decided to keep gambling amid your withdrawal issues, and unfortunately lost all your winnings.. So trying to now turn back and blame the casino for the result of your own decisions is rather not fair..

When the Casino asked you to pass kyc verification before you can withdraw, if you know you aren't ready to lose any part of that money, you should have abstained from gambling at that time and pursue the kyc verification till the end.

[qwertyup23]

Handing out KYC documents is not too much of a big deal,  if you don't have anything to hide like users in the US have been facing this level of restriction and verification demand since most casinos in that region are regulated.

I think some reasons that people are layed back from going through KYC is if they feel they can bypass it or when it is not a strict law that everyone is used to like the US you mentioned.

If a jurisdiction has made regulation a law, that means every other casino opening up in that country mandates KYC and bettors will get that knowledge already before opening an account that they must give themselves to KYC as prerequisite then it should settle the whole up and down about issues with not allowed to withdraw funds because of lack of kyc verification.

Sometimes, it is not about on the topic of hiding your KYC documents. Most of the time, the KYC documents being asked by some gambling platforms and exchanges are too restrictive that it brings more harm than good.

For example, in our local exchange in order to reach a certain verification level, the staff asked for the ITR of my mother and my most recent bank deposits. In addition, they even asked for the details of all the transactions that I have used in multiple platforms.

Sure, I understand that KYC was implemented in order to enhance one's security and to follow the mandate of some laws but if it becomes too restrictive, it destroys its very purpose.

[wxa7115]

There are a few casinos which I will put at the very top when it comes to offering everything or almost everything a gambler may want, and stake is on that short list.

However the issue the OP faced is something many gamblers like him have faced before, after all the reasons why their documents were rejected seem to have been very clear, so they only needed to correct those issues, get verified and then make a withdrawal, however during that process they decided to gamble and they accepted the risk that they could lose their money, and now they have lost it they are mad this happened, so I do not see they have too much of a case against stake at all.

I'm not sure if a casino can also block the ability for a gambler to make bets when they lock an account because they failed KYC verification, but I also agree that it's not their issue if the gambler was able to gamble and he did that and lost everything instead of trying and completing their KYC verification first and then trying to withdraw again, the casino didn't ask OP to play or gamble more, but they did it themselves so it's their own mistake.

And it happens sometimes when a platform doesn't accept the documents of a player and asks for reiterations and it's a normal thing, a player needs to reconsider their submitted documents, check for errors and mistakes, and then resubmit them again or simply submit another document for it.

Casinos cannot really do that, gamblers in the market of cryptocurrencies are incredibly paranoid about anything which may cause their funds to be blocked on their accounts, so if a casino in a show of goodwill decided to not allow a gambler to make any bet with the amount they want to withdraw when their accounts are still been verified, you can be sure then they will complain about the casino trying to scam them.

As such it is better for casinos to simply let gamblers to do what they want with their coins during the verification process, and if this means a few people like the OP lose their coins then so be it.

[kingvirtus09]

According to my understanding of your story, maybe that's really the intention and the stakes want you to reuse the money you won by playing on their platform. Since 6000$ is a large amount, that can be considered a bit of a lesson learned.
It's just sad that when it comes to casino withdrawal issues like that, especially the big amount in question is the length of the process that the casino platforms do before they approve you to withdraw, and there's nothing we can do about that because they hold our account and balance assets on their platform.

[Wexnident]

~

They technically can take however long they want with their KYC process, and can provide results with whatever it is they might have received. Note that checking of KYC is still done in person so who knows, your KYC check might have just gone under a group of lazy asses so it was rejected. Simply adopt a try again attitude imo and resent your KYC documents, this time in a state where there's no way they'd have issues with, maybe scanning it instead of taking a photo.

But let's be real, let's not blame anything but ourselves for our losses. You could've opted to, well, idk NOT gamble? It doesn't matter really how your funds ended up staying in your casino account. It didn't ask you to gamble it, so it's no ones at fault here but you.

[Findingnemo]

Most comments here say do KYC before starting to play. I also do that and it's a smart way but some people still value to keep their personal information safe.
Also, if KYC is so important they should just make it mandatory before you are able to make your first deposit.

It is unfair to be able to deposit and not withdraw. It's basically the same as making an investment in Logan Paul's crypto zoo, you can invest but it's not a given you see your money ever again.  

It might be a trick used by the platforms to get many deposits as much as they can but they will only pay money to whoever deserves it which is legally acceptable but ethically not however we can't change the system how it used to be so the only choice is if we don't like it then choose the one which suits ours.

On the other hand, anyone can mistake even the big reputed casino too but OP spend all the money in just a day and now blaming the casino is not going to bring the money back or it's just the same kind of excuse used by the addicts to blame their mistakes on others.

[Coin_trader]

According to my understanding of your story, maybe that's really the intention and the stakes want you to reuse the money you won by playing on their platform. Since 6000$ is a large amount, that can be considered a bit of a lesson learned.
It's just sad that when it comes to casino withdrawal issues like that, especially the big amount in question is the length of the process that the casino platforms do before they approve you to withdraw, and there's nothing we can do about that because they hold our account and balance assets on their platform.

Casino has the right to review the withdrawal of any account if they want it. His money will still be intact on his balance if he didn’t wager it all and lose. The point here is he just to put the blame to the casino by locking his funds while he can recover it if he just wait for the process. Stake has a lot of high roller player and I’m sure they will post a complaint here once they experience same scenario like OP which is not the case here.

Stake withdrawal is instant even on higher amount than OP money. The OP account game history probably has some unusual activity for Stake security alerted.

The OP is already offline for almost 3 weeks. I guess he already accepted the loss.

[QueenVera]

This was approximately a year ago, and I would like to share a recap of what occurred.

In late June of last year, I had a fortunate sports betting experience and won around $6,000 in LTC (120 LTC). Following my win, I promptly requested a withdrawal, but unfortunately, it was denied. This surprised me since Stake is typically known for their quick withdrawal times. To understand the situation, I reached out to their support team for an update.

Interestingly, despite the withdrawal issues, I discovered that I was still able to place bets on the platform. Unfortunately, like any other addict, I continued gambling until I lost all my winnings within four days. I attributed this to sheer bad luck, convincing myself that it was solely responsible for my losses.

However, I later spoke to a friend who underwent the same KYC procedure and learned that his verification process took less than a day, enabling him to withdraw his funds instantly.

Curiosity led me back to stake.com to review my betting history and investigate what had truly transpired. To my surprise, the tickets had disappeared, and when I questioned the support team about this, they attributed it to a platform issue, stating that neither party could access the tickets and that nothing could be done about it (refer to the images below).

1st image: [https://ibb.co/nmxBBG8]
2nd image: [https://ibb.co/1qSqgS2]

To my understanding of your post I find you to be very unfortunate and I hope you come out of your addiction before it cause you to make more mistakes in gambling, you should know that stake is a business and would do any including using strategies to get money from customers likewise customers try to win from the as well  automatically any bet a customer is staking on they're doing so against the bet owners and either party would likely win, however maybe you've gone against their policy and that's the only was they could punish you for doing so but if you had waited patiently and carry out the kyc process in a appropriate manner with a clear image of your document then yotu would had stood a good  chance of getting your money like you friend but instead you decide to place another bet, when you has an unsolved issue,forgetting that you would be able to withdraw the new bet even if had won anyways mistakes happen and you've learnt your lessons.

[Wiwo]

Mate don't take this as an attack but just a friendly advise that before you place your first bet on a centralized casino,  you should first make sure to have pass through all the kyc process.

Unless you have not made up your mind to gamble at the casino if not,  KYC should be the first thing you should take care of because if you want to verify the account when it runs into trouble,  you may find it hard to pass through the verification process due to pressure to withdraw your winning.

^Exactly this

Get your KYC done beforehand. Otherwise you might find yourself in a tangled web of unjustified bureaucratic nonsense. The reason being quite simple: Even though most people mistake a complicated KYC process with malice from the side of the casino owners, the truth is that a long KYC process is because you tripped a lot of red flags like using a VPN, using a bot or just because you broke a rule from the terms and conditions. People really underestimate the terms and conditions and would rather not read through them because they can be quite long. But that laziness always has a price in the end.



 

Ops should have known that, without KYC, a casino can decide to deny any withdrawal that is above $5,000 because according to the AML, the maximum withdrawal approvable to a none KYC account is $4,999 max anything exceeding this amount is expected to go through KYC.

All though some casinos may allow some players whose accounts appeared to be reputable and without any suspected abuse to withdraw amounts higher than the maximum no KYC limit, but that is in rare cases.

[decodx]

<...>

It's been more than a month since the OP started this discussion, and he hasn't engaged in the forum since then. Is it really necessary to resurrect a thread like this that has already concluded its course? There might not be much reason to bring it back up.

[Casdinyard]

I would say that this is a common business practice among A-list casinos like stake, but at the same time it doesn't really justify the fact that you were inconvenienced by the lengthy KYC process you had to undergo, which is something that all stake users experience by the way, just at different points in our gambling journey. With that being said, I would've suggested you take these documents you took a picture of, and sent them to customer service so they could help you with the KYC process, personally never did this but at this point in time you're basically left with little options anyway, and then followed any form of instructions that they may put out for you. At the end of the day it's something that we all go through as gamblers for Stake, it just happens on random for some reason, and while it's not allowed, it's still at the same time within the law.

[Odusko]

<...>

It's been more than a month since the OP started this discussion, and he hasn't engaged in the forum since then. Is it really necessary to resurrect a thread like this that has already concluded its course? There might not be much reason to bring it back up.

I was about to point out the same thing, since the thread starter have become inactive since the creation of the thread, and he hasn't engaged in the discussions going on in this thread I think it is high time we report the thread so that it could be locked, and I won't blame anyone who may have accidentally pumped the thread after it long time of inactivity but not too long though.

I believe that if the ops have reached stake support by now, his issue should have been resolved, but this may also likely be a false flag fuds intended thread since ops never come back again.

[Peanutswar]

Are you an active gambler with the stake if yes you will not face this kind of trouble on your part, but if no, and just recently created an account and make a deposit and then win a large profit seeking a withdrawal immediately for sure they will tag your account for a freeze status, we cannot deny this always happen, each gambling casino have a minimum wage after they deposit just read the terms and conditions too so if you made a deposit and win why not to play those funds you've been use at least a 1k usd, also if you submitted the KYC to them sure they will immediately take an action. @OP if you fix the problem you can now lock the thread in the lower left of the whole thread.

[Yatsan]

Are you an active gambler with the stake if yes you will not face this kind of trouble on your part, but if no, and just recently created an account and make a deposit and then win a large profit seeking a withdrawal immediately for sure they will tag your account for a freeze status, we cannot deny this always happen, each gambling casino have a minimum wage after they deposit just read the terms and conditions too so if you made a deposit and win why not to play those funds you've been use at least a 1k usd, also if you submitted the KYC to them sure they will immediately take an action. @OP if you fix the problem you can now lock the thread in the lower left of the whole thread.

There are just rules set by a gambling platform and they simply have the rights to do so as long as it is still in line with what's in TOS. Freezing or holding your account doesn't mean that your money will forever be held. You will just be needing to comply with procedures. As we all know, if you didn't do anything illegal or in contrast with terms, then there's really nothing to worry about. Stake as well as other reputable platforms won't throw their name for such amount. It will be a problem with OP's nend if he's against submitting KYC but that will bring him back with TOS. Many gambling platforms are doing the same thing but for sure they are not pushing you to lose all of your money in their platform.

[coolcoinz]

And it happens sometimes when a platform doesn't accept the documents of a player and asks for reiterations and it's a normal thing, a player needs to reconsider their submitted documents, check for errors and mistakes, and then resubmit them again or simply submit another document for it.

You are way too naive. Do you really think that's the only reason why casinos do this sort of stuff? It's not that simple. They use these tactics to make the player use up his/her funds in order to avoid paying them later.

This particular tactic works quite often since many gamblers are impatient leading to them gambling away their funds and getting screwed in the process.

I've read many stories of this being done.

A gambler is not asked to do KYC for months, but when he decides to withdraw a large sum all at once he gets locked and asked for documents. Then the casino takes a long time to process it saying stupid things that they need documents to be in English because they can't read this or that language, or that they need the document to be not older than 1 month, although player's account is much older than that. Then they don't want to get digital versions of documents, including that proof of funds, that has to be in a written and stamped form, in English

They do it all to delay things as long as they can, hoping the client will give up and leave them the money, or starts gambling again and loses everything.

OP, you should have asked us earlier. It's better to wait and document every conversation with the support. If you're sending them everything and they are still delaying withdrawal, you're being scammed, but if you gamble and lose everything before your account is unlocked it's your fault. 

[cabron]

And it happens sometimes when a platform doesn't accept the documents of a player and asks for reiterations and it's a normal thing, a player needs to reconsider their submitted documents, check for errors and mistakes, and then resubmit them again or simply submit another document for it.

You are way too naive. Do you really think that's the only reason why casinos do this sort of stuff? It's not that simple. They use these tactics to make the player use up his/her funds in order to avoid paying them later.

This particular tactic works quite often since many gamblers are impatient leading to them gambling away their funds and getting screwed in the process.

I've read many stories of this being done.

A gambler is not asked to do KYC for months, but when he decides to withdraw a large sum all at once he gets locked and asked for documents. Then the casino takes a long time to process it saying stupid things that they need documents to be in English because they can't read this or that language, or that they need the document to be not older than 1 month, although player's account is much older than that. Then they don't want to get digital versions of documents, including that proof of funds, that has to be in a written and stamped form, in English

They do it all to delay things as long as they can, hoping the client will give up and leave them the money, or starts gambling again and loses everything.

OP, you should have asked us earlier. It's better to wait and document every conversation with the support. If you're sending them everything and they are still delaying withdrawal, you're being scammed, but if you gamble and lose everything before your account is unlocked it's your fault. 

Since people are thinking Stake is deliberately holding his money so he will play more and lose then, just tell OP not to bet anymore and wait til he could withdraw all of those funds. If the withdrawal review takes more than weeks, I would really be thinking Stake is purposely doing all these. Not the STake is a scam. This casino is way richer. This Casino is way more popular than any casino in crypto. The newer casinos are not thriving because of Stake some were toppled unable to survive the harsh competition.

I can understand why they are doing this though.  Because like any banker in a local casino, they'd be very pissed when someone wins and quits without giving the banker a chance to win back.

[Wiwo]

I don't wish to dwell on this matter any longer, but I would appreciate hearing your thoughts. Personally, I feel that this is a highly questionable practice, allowing users to continue gambling while demanding verification for withdrawals, and then conveniently erasing the tickets and evidence. It appears to be nothing short of shady and potentially predatory to me.

Even crypto exchange where I trade, (all of them that ive used), still allow customers to trade, buy, sell, coins while the customer is suspended from withdrawing due to one issue or the other, this is something I have personally experienced myself on not just one or two exchanges but on as many of them I've used and had minor to serious withdrawal issues.
So I do not see this practice as evil in any way, you simply was the one who decided to keep gambling amid your withdrawal issues, and unfortunately lost all your winnings.. So trying to now turn back and blame the casino for the result of your own decisions is rather not fair..

When the Casino asked you to pass kyc verification before you can withdraw, if you know you aren't ready to lose any part of that money, you should have abstained from gambling at that time and pursue the kyc verification till the end.

I got engaged in a discussion with a friend the other day and when we were talking , he mentioned a new casino he just registered on and their demanding for kyc even before he could make a deposit,  and at that point,  I told him to to go ahead with passing the kyc if he want to use the casino,  because before you create an account on a casino,  you should have already read the terms and conditions to know if their are kyc compliance or not.

So the necessary thing need to be done at first,  to avoid future incontinences such as in the case of ops.