The Rise of Crypto Gambling: What You Need to Know

[virasog]

I admire your trust in the casinos suggested by the community. But that doesnt mean you shouldnt do your homework before working with them anyway. Consider the casino's operational transparency, licensing, and history of managing customer complaints in addition to its position in online forums while making your decision.

That some people don't fully grasp KYC is a valid point. But I feel compelled to add that sniffing out wrongdoing is only part of the story. It's a rule that needs to be followed so that crimes like identity theft and financial fraud don't happen. It has nothing to do with how large or small a gambler you are and is instead a measure taken to maintain trustworthiness and openness in the online gambling system.

The people that are not easily willing to complete KYC verification at casinos when demanded are going to have nowhere to go for their gambling activities in the near future because there will be strict regulations then, and someone who doesn't complete their verification on time would simply not be allowed to use a platform, gambling is a very far thing, so people need to start getting used to this system because it is most likely here to stay.

While most of us believe that a casino that operates under a license tends to be more safe and secure for us and our assets, this small group of people think that a casino that has a license and asks for KYC verification is going against their privacy, like they are the only ones being asked for it.

But even so you can still gamble without the obligation to do KYC, with the limits set by the casino itself, so in my opinion it's not a problem if you want to maintain your personal identity by not doing KYC, you only need to deposit and withdraw below the limit. But yes, when you get big profits with small capital, of course you also need to do KYC if you want to withdraw the winnings you get in your gambling.

KYC cannot be avoided even though it is contrary to the wishes of anonymity because the average gambling platform has implemented it, except maybe a gambling platform that does not have a license, that is possible, but it is not safe for you to gamble.

And it seems that this policy is indeed based on the rise of gambling activities that are misused, and including gambling using crypto which is experiencing increasing adoption.

KYC is not a hindrance in the growth of crypto gambling as people are ready to do KYC in return for doing crypto gambling. The advantages of crypto online gambling are more than fiat gambling. So that is the reason that online gambling is increasing day by day as more people are leaving physical gambling or gambling through fiat money and moving towards gambling through cryptocurrencies.

KYC cannot be avoided in online gambling or offline gambling, so I don't think we have a choice of gambling without KYC.

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[ethereumhunter]

With the current development in the gambling casinos, where even freebitco, one of the longest running bitcoin casino that have never required customers to pass kyc verification, if a casino as this can now turn to include in their terms that there is a possibility that they may ask their customer for kyc verification, that should tell you that there is a regulatory pressure on casinos right now, and casinos that are still not requiring kyc from customers either will just vanish with customers funds in the future after they have collected enough, or like every other casinos, they will still turn around to request kyc from their customers.

I think we have arrived a point where gamblers shouldnt be running from kyc anymore.

The time has come for KYC verification to become an obligation for crypto users, especially for crypto casinos which used to be very free and did not need to apply any KYC to their users. With the interference from regulators in almost all businesses, crypto users cannot be anonymous users who can hide behind the scenes in making transactions. And all of this may be influenced by people who used to use fiat for illegal activities. They are starting or already using crypto to carry out their illegal activities. And this is what makes regulators need to ask casinos or other businesses to implement KYC on their members.

Most beginners are reluctant to ask questions and find out which casinos have a good reputation and high trust, so they are easily tempted by the promotions offered by some shady casinos.
With this forum in the gambling section, there are already lots of threads that have topics about trusted casinos with good reputations, making it easier for beginners to understand which casinos can be relied upon or should be avoided.

There are already many casinos that have established KYC, so we only have to choose which one is the most trusted and can maintain the security of our personal documents.
After all, I'm sure that every big casino has their own way of keeping their customers' data secure.

Beginners still register at shady casinos, where they find obscure advertisements from sites. Hence, many of them are still exposed to many problems ranging from withdrawal problems, KYC, or bonuses and others. They can't find a casino that can provide comfort for them, so they choose a casino randomly, making many of them experience problems.

If they can visit this forum and look in the gambling section, they can find lots of recommendations that many members have given so this will save them from other problems. And they can also play gambling in peace and can enjoy it well. A trusted casino must be able to take good care of the personal documents of each member because if not, it will affect the reputation that has been built for a long time.

I think lately do people get to identify that we can actually gambles without going through kyc when we make a decision to choose the gambling platform that requires no use of kyc, it's unbelievable that some don't even know, but the good about this is that you can search through whatever thing you want and get them as long as you can give it that search needed, what we don't seek after we may not find and same does happen in gambling too, there are platforms that gives zero tolerance on KYC only if we could give out the demands for searching through one.

As long as they don't deposit large amounts of money, especially for new people joining, I don't think they will be asked to do KYC. But what happened was that some people immediately deposited large sums of money and played and got big wins, causing suspicion from the casinos about who they were. This is what makes the casinos ask them to do KYC to find out who they really are but most of them complain that this is unfair or the casinos are cheating them. Some people consistently only deposit small amounts of money to gamble and withdraw their money within acceptable limits. And they are still fine playing at that trusted casino and haven't done KYC. But I think it's time for casinos to implement KYC for all their members fully.

[Rabata]

I admire your trust in the casinos suggested by the community. But that doesnt mean you shouldnt do your homework before working with them anyway. Consider the casino's operational transparency, licensing, and history of managing customer complaints in addition to its position in online forums while making your decision.

That some people don't fully grasp KYC is a valid point. But I feel compelled to add that sniffing out wrongdoing is only part of the story. It's a rule that needs to be followed so that crimes like identity theft and financial fraud don't happen. It has nothing to do with how large or small a gambler you are and is instead a measure taken to maintain trustworthiness and openness in the online gambling system.

The people that are not easily willing to complete KYC verification at casinos when demanded are going to have nowhere to go for their gambling activities in the near future because there will be strict regulations then, and someone who doesn't complete their verification on time would simply not be allowed to use a platform, gambling is a very far thing, so people need to start getting used to this system because it is most likely here to stay.

While most of us believe that a casino that operates under a license tends to be more safe and secure for us and our assets, this small group of people think that a casino that has a license and asks for KYC verification is going against their privacy, like they are the only ones being asked for it.

But even so you can still gamble without the obligation to do KYC, with the limits set by the casino itself, so in my opinion it's not a problem if you want to maintain your personal identity by not doing KYC, you only need to deposit and withdraw below the limit. But yes, when you get big profits with small capital, of course you also need to do KYC if you want to withdraw the winnings you get in your gambling.

KYC cannot be avoided even though it is contrary to the wishes of anonymity because the average gambling platform has implemented it, except maybe a gambling platform that does not have a license, that is possible, but it is not safe for you to gamble.

And it seems that this policy is indeed based on the rise of gambling activities that are misused, and including gambling using crypto which is experiencing increasing adoption.

KYC is not a hindrance in the growth of crypto gambling as people are ready to do KYC in return for doing crypto gambling. The advantages of crypto online gambling are more than fiat gambling. So that is the reason that online gambling is increasing day by day as more people are leaving physical gambling or gambling through fiat money and moving towards gambling through cryptocurrencies.

KYC cannot be avoided in online gambling or offline gambling, so I don't think we have a choice of gambling without KYC.

Gambling with cryptocurrency has many advantages over gambling with fiat currency. It is of the highest interest among gamblers especially for quick payouts. However in both ways a gambler has to make KYC. I don't need to worry about KYC in the best gambling platforms. Because they provide good service for which their site has high reputation. KYC is an important factor in any gambling or casino platform, online or offline. There is no option of gambling by ignoring it.

[dezoel]

Gambling with cryptocurrency has many advantages over gambling with fiat currency. It is of the highest interest among gamblers especially for quick payouts. However in both ways a gambler has to make KYC. I don't need to worry about KYC in the best gambling platforms. Because they provide good service for which their site has high reputation. KYC is an important factor in any gambling or casino platform, online or offline. There is no option of gambling by ignoring it.

There might be some options available right now for gamblers to gamble without completing KYC verification, but there won't be any in the future, so it's better if people start getting used to the habit of completing KYC verification at trusted platforms so that they don't have issues doing it in the future. Regulations have been catching every single platform lately, authorities are even eyeing decentralized platforms to be regulated in the future, so there won't be any left.

As you said, one shouldn't really have any issues doing KYC verification at a platform that is trusted and they know it wouldn't misuse their personal information and documents, and it's better to avoid new and untrustworthy platforms if they are asking for KYC verification, if they don't ask for it, one might try them out.

[delfastTions]

Gambling with cryptocurrency has many advantages over gambling with fiat currency. It is of the highest interest among gamblers especially for quick payouts. However in both ways a gambler has to make KYC. I don't need to worry about KYC in the best gambling platforms. Because they provide good service for which their site has high reputation. KYC is an important factor in any gambling or casino platform, online or offline. There is no option of gambling by ignoring it.

There might be some options available right now for gamblers to gamble without completing KYC verification, but there won't be any in the future, so it's better if people start getting used to the habit of completing KYC verification at trusted platforms so that they don't have issues doing it in the future. Regulations have been catching every single platform lately, authorities are even eyeing decentralized platforms to be regulated in the future, so there won't be any left.

As you said, one shouldn't really have any issues doing KYC verification at a platform that is trusted and they know it wouldn't misuse their personal information and documents, and it's better to avoid new and untrustworthy platforms if they are asking for KYC verification, if they don't ask for it, one might try them out.

Now I began to adhere to the following opinion: When it comes to gambling using cryptocurrencies, then KYC verification is definitely evil and a bad solution to the issue.  If the game is with cryptocurrency payments, then you need to maintain a certain level of anonymity.  

But now, after all, an intermediate identification option has appeared and users of WorldCoin wallets are already using it.  In Japan, for example, two days ago there was even a queue of those wishing to receive some of these coins (about $50 at the current exchange rate).  For identification, it was simply necessary to scan the iris of the eyes and that's it.  The recipient of the coins already had his own wallet with these coins after that.  The whole process takes only 8 seconds.
 In my opinion, this identification method is very well suited for use in the cryptocurrency gambling industry and unequivocally guarantees confirmation of the deposit owner if he was registered in such a biometric way.  At the same time, it is not at all necessary to go through KYC in its classical sense, that is, indicating the name, surname, other passport data, and even more so sending all kinds of photographs of the face or even video.  
I don’t know which cryptocurrency casino will be the first to master this method of identification, but I hope such casinos will start to appear more and more.

[casinosfyi]

The sports betting and gaming industries constantly evolve. The next evolution has been the advent of blockchain and cryptocurrency technologies. Bitcoin sportsbooks have become the newest thing in the industry. And for good reason. A crypto sportsbook provides advantages that traditional books can’t. If you’re new to crypto gambling, or require a refresher, keep reading to discover the top five things you must know about crypto sportsbooks.

What You Need to Know About Crypto Gambling

Bitcoin has become a store of value

For many, bitcoin remains something to be feared or disregarded. But that’s changing and it’s changing quickly.

It already has changed when it comes to the way the largest banks in the world view BTC. Goldman Sachs, JP Morgan Chase, and Morgan Stanley offer their clients bitcoin investment strategies.

Cryptocurrency investors see BTC as digital gold. Bitcoin is the base for their crypto investment strategies. The bottom line? Cryptocurrencies, and especially Bitcoin, isn’t going anywhere.

Your information is more secure

For our purposes, this is the most significant thing to know about crypto gambling. It is much more secure than playing in a traditional sportsbook.

Traditional sportsbooks have your address, your phone number, your email address, and more info about you. Some sportsbooks sell your information to list creators. Those list creators sell the info to tout services that call you to get you on board with their plans.

You can deposit and make withdrawals faster

Crypto deposits and withdrawals happen much faster than in traditional sportsbooks or online gaming sites. The reason is due to cryptocurrencies’ peer-to-peer philosophy.

A middle entity, like Coinbase or Cash App facilitates the transfer of your BTC or other crypto to your sportsbook account. But those entities are just facilitators.

They aren’t involved the way your credit card company is involved. This speeds up the entire deposit and withdrawal process.

Read more→ https://n2g.io/3e8d2b4

You are correct. The future of online crypto casinos is affected by the blockchain technology, that permits online crypto casinos to take advantage of features that are not obtainable in non crypto casinos - crypto casinos provide improved restrictions, better means of security  and have a more rapid withdrawals.

[bSpend]

Well, one thing that is very sure and also very clear to see is that, cryptocurrency gambling have made gambling alot of easier, fun and accessible to alot of persons out there, since it has become practically easier and faster to deposit and withdraw from casinos through crypto currency, and like the op mentioned, some of our personal data is safe with us when we choose to make crypto our only means of depositing and withdrawing from gambling casinos, Personal datas like our credit card details, bank account details and some other of our financial data we use for transacting with the banks and other financial institutions.

For me, if not for cryptocurrency, I would not have been a gambler, because existed way before crypto came on board, and I've never gambled until I discovered crypto, got into it, starts saving in crypto, and when I discovered that it was possible to gamble and place bets using crypto on online casinos, I decided to try with small amount, and that was how I started gambling from time to time, crypto have indeed, opened doors to many financial innovations, and I the development it has brought to the online gambling industry.

[bitcampaign]

KYC is not a hindrance in the growth of crypto gambling as people are ready to do KYC in return for doing crypto gambling. The advantages of crypto online gambling are more than fiat gambling. So that is the reason that online gambling is increasing day by day as more people are leaving physical gambling or gambling through fiat money and moving towards gambling through cryptocurrencies.

KYC cannot be avoided in online gambling or offline gambling, so I don't think we have a choice of gambling without KYC.

I really agree with that, everyone will be happy to do KYC if there is a request according to the gambling site's procedures, regarding the increase from day to day it is a technological advancement that continues to be presented every year so it is not surprising that gambling uses currency. Crypto has been widely used in various developed countries, so it is a promising thing for the long term aspect because it makes it easier for all groups to play without having to play physical gambling, while doing this to avoid account misuse then it is legal in my opinion to prevent this. This is because it is in the interests of the gambling site to safeguard everyone's assets.

[Slow death]

Well, one thing that is very sure and also very clear to see is that, cryptocurrency gambling have made gambling alot of easier, fun and accessible to alot of persons out there, since it has become practically easier and faster to deposit and withdraw from casinos through crypto currency, and like the op mentioned, some of our personal data is safe with us when we choose to make crypto our only means of depositing and withdrawing from gambling casinos, Personal datas like our credit card details, bank account details and some other of our financial data we use for transacting with the banks and other financial institutions.

For me, if not for cryptocurrency, I would not have been a gambler, because existed way before crypto came on board, and I've never gambled until I discovered crypto, got into it, starts saving in crypto, and when I discovered that it was possible to gamble and place bets using crypto on online casinos, I decided to try with small amount, and that was how I started gambling from time to time, crypto have indeed, opened doors to many financial innovations, and I the development it has brought to the online gambling industry.

In my case, I also started playing in casinos because of cryptocurrencies and I confess that it was a good experience because a few years ago here in my country there were few sports betting sites and although I saw them every day in the advertisements that appear on TV, I didn't use them. Until years after getting involved with cryptocurrencies, I became curious about sports betting and started placing my sports bets using my cryptocurrencies, I lost in many games but in the end I managed to win a lot and leave with a profit. playing at cyptomos casinos is easy and much more practical than playing at casinos or betting houses in my country because in the case of casinos and betting houses in my country I would have to be constantly

going to do kyc at the payment processor company's office, because they track transactions, they set a certain limit on the movement of money that when exceeded the person must do kyc again, it's something very annoying that I want to avoid, that's why I choose to play more in crypto casinos because I do kyc and play with small amounts of money and I don't have headaches.

[AHOYBRAUSE]

Why even bringing back this garbage thread written by this garbage company.
Actually, I doubt it's even written by them, most likely they use some AI.

The garbage they post here can also be found on their "blog". For some reason they still keep this alive even though I doubt anyone is interested in reading it. 

[Dunamisx]

KYC is not a hindrance in the growth of crypto gambling as people are ready to do KYC in return for doing crypto gambling. The advantages of crypto online gambling are more than fiat gambling. So that is the reason that online gambling is increasing day by day as more people are leaving physical gambling or gambling through fiat money and moving towards gambling through cryptocurrencies.

KYC cannot be avoided in online gambling or offline gambling, so I don't think we have a choice of gambling without KYC.

I also go along with your suggestion on this, there is nothing to cause hindrance to the use of casino gambling platform because of KYC, what i only noticed about the gamblers concerning this is a frequent complaint about it, which if they were able to make provisions to all required information's needed by the platforms, they are going to enjoy them, and despite the KYC challenges, may are still finding it more attractive and interesting in using any online gambling platform because they can afford their kyc requirements unlike other gamblers who couldn't.

[sunsilk]

You are correct. The future of online crypto casinos is affected by the blockchain technology, that permits online crypto casinos to take advantage of features that are not obtainable in non crypto casinos - crypto casinos provide improved restrictions,

For everything that's related to crypto casinos, there's always the use of blockchain technology. Whether it is a casino or an exchange or payments are made on crypto then it's for sure that there's blockchain technology behind it.

better means of security  and have a more rapid withdrawals.

But don't be surprised if you've been halted for some reason. Especially, to the big withdrawals that are being done and even if you've won that outrightly.

There's a possibility that you'd be stopped for some additional verifications and that's common today for most casinos.

[danadc]

KYC is not a hindrance in the growth of crypto gambling as people are ready to do KYC in return for doing crypto gambling. The advantages of crypto online gambling are more than fiat gambling. So that is the reason that online gambling is increasing day by day as more people are leaving physical gambling or gambling through fiat money and moving towards gambling through cryptocurrencies.

KYC cannot be avoided in online gambling or offline gambling, so I don't think we have a choice of gambling without KYC.

I also go along with your suggestion on this, there is nothing to cause hindrance to the use of casino gambling platform because of KYC, what i only noticed about the gamblers concerning this is a frequent complaint about it, which if they were able to make provisions to all required information's needed by the platforms, they are going to enjoy them, and despite the KYC challenges, may are still finding it more attractive and interesting in using any online gambling platform because they can afford their kyc requirements unlike other gamblers who couldn't.

I think the same, or that new Casinos should Establish another system, not direct with a KYC, but a less radical system, an identification but not as difficult as this, so this can be done in a more Subtle way, for this reason This is something that can be generated for the better at the time that the followers like that it is not so difficult to do something like that, that is why it is an option that always happens to me, I am not one to leave KYC on all Platforms, Because it is Leaving my data is not a good thing, but now with this law in every casino it is difficult to go Against it.

[paxmao]

I find it a bit weird that the OP is speaking of bitcoin as "store of value", what we all understand as "digital gold" but this is not really in line with using bitcoin for transferring betting money regularly because the fees make it nearly impossible, even with a lighting channel open or the like. I would say that any other crypto is more useful for that specific case of use. But there is a case to have bitcoin in an exchange and convert to bet.

[kotajikikox]

You are correct. The future of online crypto casinos is affected by the blockchain technology, that permits online crypto casinos to take advantage of features that are not obtainable in non crypto casinos - crypto casinos provide improved restrictions, better means of security  and have a more rapid withdrawals.

that is why crypto casino just grow like now over the years as we can also see there are new casinos being born at least each week
showing how tight the competition now comparing in the past years when they are just fewer.
and the thing is that there are almost the same offers from each to them leaving us to be confused where to deal our gaming 

[Haunebu]

I find it a bit weird that the OP is speaking of bitcoin as "store of value", what we all understand as "digital gold" but this is not really in line with using bitcoin for transferring betting money regularly because the fees make it nearly impossible, even with a lighting channel open or the like. I would say that any other crypto is more useful for that specific case of use. But there is a case to have bitcoin in an exchange and convert to bet.

Well said. Ordinals and Runes messed up the BTC network so badly that investors think twice before deciding to transfer their BTC. Fees were negligible before all of that crap messed up the network.

Altcoins like Litecoin, Dogecoin etc are way better options in comparison as you mentioned since their networks are pretty much always stable.