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Author Topic: Anonymity is no longer a benefit of gambling with cryptocurrency.  (Read 1740 times)
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August 05, 2023, 04:03:48 PM
 #81

Almost every services that accept cryptocurrencies were requesting the users to fulfill KYC. Earlier we've got decentralised gambling platforms like directbet which never requires a registration. During those days the anonymity of the gambling platform as well as the cryptocurrencies were well enjoyed. Now the cryptocurrencies were anonymous, but the gamblers to fulfill KYC keeps everything transparent. Over time things could change, as more gamblers prefer to stay anonymous.

I remember this website and their method is the really the anonymous casino in crypto because it only needs wallet to play by sending bets on designated betting address. The on,y problem on this system is the owner can run freely whenever he wants it since he has no legal commitment with his players since both party is anonymous.

I think directbet still have some settlements that is not paid before they stop the service. Those active bets during their closure is not paid.

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August 05, 2023, 04:18:49 PM
 #82

Almost every services that accept cryptocurrencies were requesting the users to fulfill KYC. Earlier we've got decentralised gambling platforms like directbet which never requires a registration. During those days the anonymity of the gambling platform as well as the cryptocurrencies were well enjoyed. Now the cryptocurrencies were anonymous, but the gamblers to fulfill KYC keeps everything transparent. Over time things could change, as more gamblers prefer to stay anonymous.

I remember this website and their method is the really the anonymous casino in crypto because it only needs wallet to play by sending bets on designated betting address. The on,y problem on this system is the owner can run freely whenever he wants it since he has no legal commitment with his players since both party is anonymous.

I think directbet still have some settlements that is not paid before they stop the service. Those active bets during their closure is not paid.

We all want to maintain the anonymity of our identities especially in gambling but it is unavoidable nowadays because even huge casinos are requiring it. We can't run away from it unless we are willing to play in small time but non reputable casinos just to stay away from KYCs which I think is riskier because we might fall for scam casinos trap which we should b careful about.
As for me, it is already part of the security system and we only have to comply with it as the innovation of technology really requires it. So far, I haven't heard any news of getting our personal information being put at risk. So as early as possible, no matter what casino we may choose, we better expect KYC and just comply with it. As long as we're in a trusted casino site, our identities are actually safe.
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August 05, 2023, 04:24:09 PM
 #83

Almost every services that accept cryptocurrencies were requesting the users to fulfill KYC. Earlier we've got decentralised gambling platforms like directbet which never requires a registration. During those days the anonymity of the gambling platform as well as the cryptocurrencies were well enjoyed. Now the cryptocurrencies were anonymous, but the gamblers to fulfill KYC keeps everything transparent. Over time things could change, as more gamblers prefer to stay anonymous.

I remember this website and their method is the really the anonymous casino in crypto because it only needs wallet to play by sending bets on designated betting address. The on,y problem on this system is the owner can run freely whenever he wants it since he has no legal commitment with his players since both party is anonymous.

I think directbet still have some settlements that is not paid before they stop the service. Those active bets during their closure is not paid.
That is one of the problem anonymity casinos always giving to anonymity players, there is always an element of atom in frauding or incompleted payment to gamblers. According to some casino T/C KYC is to fast track the payment of the gamblers wins but there are some casinos who withheld players win when they have provided all the documents to clear themselves.
I think there are many accusations in the forum concerning this KYC issue. So from what even discovered, it is not even the KYC is the problem but the casinos genuineness is also needed in their dealing with the players. Now casinos would say without KYC they can't pay the player, okay the player provides the KYC yet the casino would bring another grammar to stop the payment process. So the problem is not KYC.
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August 05, 2023, 05:06:29 PM
 #84

<snip>

Am i wrong to think that this information on the internet needs to be updated.
Well if you were not required to pass a KYC, that still benefits your gambling using crypto. But nowadays, that's becoming less and less likely to happen. These KYCs were become necessary due to most gambling sites are being regulated by some authority. Somehow it also provides legitimacy and some sort of security. I would agree, somehow, the sense of anonymity in gambling using crypto is decreasing, I believe because of casinos being centralized/regulated.

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August 05, 2023, 05:21:25 PM
 #85

<snip>

Am i wrong to think that this information on the internet needs to be updated.
Well if you were not required to pass a KYC, that still benefits your gambling using crypto. But nowadays, that's becoming less and less likely to happen. These KYCs were become necessary due to most gambling sites are being regulated by some authority. Somehow it also provides legitimacy and some sort of security. I would agree, somehow, the sense of anonymity in gambling using crypto is decreasing, I believe because of casinos being centralized/regulated.

It's a thing of choice on how the gambling platforms want to operate their sites, some may demands for KYC while some my not, the mistake we often make is not to narrow our search for the one that best serves us right, it's not new to know that we are having fewer numbers of KYC casinos compared to the numbers of those that requires for KYC, government will definitely regulate any gambling platform whose identity is with them.

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August 05, 2023, 05:32:35 PM
 #86

Currently KYC is only being used to confiscate players funds. Things may change on September 1st since Curacao is overhauling their gaming laws. Right now there are 4 master licenses and all other casinos hold a sublicense. Each casino will now have to hold their own B2C license to offer gaming to individuals. We won't know until September how each casino will implement the strictness of KYC.

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August 05, 2023, 05:37:22 PM
 #87


Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.

Am i wrong to think that this information on the internet needs to be updated.

You are not wrong the crypto gambling is totally a changed thing now. It was intended to be decentralized and anonymous but these days almost every casino requires KYC verification in order to be workable for a gambler. The real decentralized nature of crypto gambling is totally gone into dust and it will never be the way it was intended to be. Now a days crypto gambling is totally centralized and it requires KYC, and casinos know everything about the gamblers.

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August 05, 2023, 05:48:03 PM
 #88

~snip~
The real decentralized nature of crypto gambling is totally gone into dust..
^Not yet, because still there are gambling casinos that I saw here offering without KYC verification.
Originally intended to be decentralized and anonymous, you definitely right, crypto gambling offered a promising alternative to traditional gambling platforms but now, many casinos have chosen to implement KYC verification procedures to comply with regulatory requirements and enhance security measures which I don't think it is necessary in fact, blockchain network has this public ledger that everyone could see and verify.
As a result, the original vision of crypto gambling being truly decentralized and anonymous seems to have faded away. Instead, it has transformed into a more centralized system, where casinos hold significant knowledge about their users.
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August 05, 2023, 05:55:04 PM
 #89

Op it so correct that now anonymity with crypto gambling sites is no more in existence as it were and far worse is how some of these gambling sites abuse's avenue using it to usurp and seizures of users accounts at the making of any slight mistakes patterning to kyc policy breaking.
Haven gotten this awareness online crypto gamblers should taken it upon themselves to study through the ToS of any gambling site before registering not waiting for when it's too late before realizing it, it's gonna save you some avoidable losses relating to kyc requirements.

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August 05, 2023, 09:29:27 PM
 #90

~snip~
The real decentralized nature of crypto gambling is totally gone into dust..
^Not yet, because still there are gambling casinos that I saw here offering without KYC verification.
Originally intended to be decentralized and anonymous, you definitely right, crypto gambling offered a promising alternative to traditional gambling platforms but now, many casinos have chosen to implement KYC verification procedures to comply with regulatory requirements and enhance security measures which I don't think it is necessary in fact, blockchain network has this public ledger that everyone could see and verify.
As a result, the original vision of crypto gambling being truly decentralized and anonymous seems to have faded away. Instead, it has transformed into a more centralized system, where casinos hold significant knowledge about their users.

True, there are still decentralized services out there but yeah they are dwindling since regulators and centralized services are now taking the stage for cryptocurrency.  Though we may find decentralized services rarer in the future, I do not think that these services will be totally gone.

About the casino, since majority of the online casino platform is dealing with fiat money and cryptocurrency. they really have to abide by the regulation and get license from the government so that they can operate smoothly and avoid trouble of being accused of illegal operation and money laundering in the future.  I also believe that dealing with centralized gambling casino, we really can't avoid to go through KYC process.
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August 05, 2023, 09:54:09 PM
 #91

~snip~
The real decentralized nature of crypto gambling is totally gone into dust..
^Not yet, because still there are gambling casinos that I saw here offering without KYC verification.
Originally intended to be decentralized and anonymous, you definitely right, crypto gambling offered a promising alternative to traditional gambling platforms but now, many casinos have chosen to implement KYC verification procedures to comply with regulatory requirements and enhance security measures which I don't think it is necessary in fact, blockchain network has this public ledger that everyone could see and verify.
As a result, the original vision of crypto gambling being truly decentralized and anonymous seems to have faded away. Instead, it has transformed into a more centralized system, where casinos hold significant knowledge about their users.

True, there are still decentralized services out there but yeah they are dwindling since regulators and centralized services are now taking the stage for cryptocurrency.  Though we may find decentralized services rarer in the future, I do not think that these services will be totally gone.

About the casino, since majority of the online casino platform is dealing with fiat money and cryptocurrency. they really have to abide by the regulation and get license from the government so that they can operate smoothly and avoid trouble of being accused of illegal operation and money laundering in the future.  I also believe that dealing with centralized gambling casino, we really can't avoid to go through KYC process.
Sooner or later to those platforms which are still that partly-decentralized since they arent asking some KYC will definitely be switching up into a pure centralized ones. We know that government cant really just look out nor really ignore out these things specially if it does involved huge amounts of money specially with these kind of companies where gambling could really generate tons of amounts on which it is really that normal that they cant just look away but rather doing their very best on trying out to regulate these companies which leaving them no choice but to comply or else they wont really be able to make themselves operational. They might be able to operate out but it would really be just not taking up too long before they would really be getting in line with some regulation. This is why it would really be passed up into its
users which for us to have no choice but to comply if ever we do make ourselves get caught.

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August 05, 2023, 09:56:45 PM
 #92

~snip~
The real decentralized nature of crypto gambling is totally gone into dust..
^Not yet, because still there are gambling casinos that I saw here offering without KYC verification.
Originally intended to be decentralized and anonymous, you definitely right, crypto gambling offered a promising alternative to traditional gambling platforms but now, many casinos have chosen to implement KYC verification procedures to comply with regulatory requirements and enhance security measures which I don't think it is necessary in fact, blockchain network has this public ledger that everyone could see and verify.
As a result, the original vision of crypto gambling being truly decentralized and anonymous seems to have faded away. Instead, it has transformed into a more centralized system, where casinos hold significant knowledge about their users.

True, there are still decentralized services out there but yeah they are dwindling since regulators and centralized services are now taking the stage for cryptocurrency.  Though we may find decentralized services rarer in the future, I do not think that these services will be totally gone.

About the casino, since majority of the online casino platform is dealing with fiat money and cryptocurrency. they really have to abide by the regulation and get license from the government so that they can operate smoothly and avoid trouble of being accused of illegal operation and money laundering in the future.  I also believe that dealing with centralized gambling casino, we really can't avoid to go through KYC process.
Sooner or later to those platforms which are still that partly-decentralized since they arent asking some KYC will definitely be switching up into a pure centralized ones. We know that government cant really just look out nor really ignore out these things specially if it does involved huge amounts of money specially with these kind of companies where gambling could really generate tons of amounts on which it is really that normal that they cant just look away but rather doing their very best on trying out to regulate these companies which leaving them no choice but to comply or else they wont really be able to make themselves operational. They might be able to operate out but it would really be just not taking up too long before they would really be getting in line with some regulation. This is why it would really be passed up into its
users which for us to have no choice but to comply if ever we do make ourselves get caught.

Play at no KYC books such as Nitrobetting. They are in Costa Rica. No casino can be decentralized. Someone has to be there for grading mistakes and other problems that may occur.
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August 05, 2023, 10:36:45 PM
 #93

Sooner or later to those platforms which are still that partly-decentralized since they arent asking some KYC will definitely be switching up into a pure centralized ones. We know that government cant really just look out nor really ignore out these things specially if it does involved huge amounts of money specially with these kind of companies where gambling could really generate tons of amounts on which it is really that normal that they cant just look away but rather doing their very best on trying out to regulate these companies which leaving them no choice but to comply or else they wont really be able to make themselves operational. They might be able to operate out but it would really be just not taking up too long before they would really be getting in line with some regulation. This is why it would really be passed up into its
users which for us to have no choice but to comply if ever we do make ourselves get caught.

I also think that the only path for crypto casinos is to be regulated by the government.  Since the majority of crypto casino are using a centralized service of the game providers, they will end up implementing KYC for account verification purposes and to comply with the regulation's rule.  I also think that those who are yet to mandatory implement KYC will be bind by this requirement sooner or later.  As long as the business is owned by a company, it has to be registered and needs to follow the regulatory rules.
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August 06, 2023, 01:35:14 AM
 #94

It still is, but you will have to look for that platform that doesn't require KYC. At this point in time, though, you're like looking for a needle in a haystack to find one. Most have KYC phrases in their terms and conditions already. But I guess the likes of Anonibet remains anonymous for gamblers. However, with anonymous platforms being very few, you cannot be very picky as to your preferred features. You don't have much choice.
Let me tell you something, you need to read the terms and conditions of the gambling sites regarding KYC. You may see the gambling sites saying that they do not require KYC, but go to their terms and conditions to find out. All of the gambling sites that I know have a limit when they will ask for KYC if the money you want to withdraw exceed the withdrawal limit for each transaction.

Of course, after all, is there any other way to verify whether or not that said platform truly doesn't ask for KYC? We've always been told to not just trust right away but verify.

In any case, if you haven't come across Mahdirakib's Information of Crypto Casinos License and KYC requirements yet, it offers a list of crypto casinos and whether they have KYC stipulations in their ToS or not.

Quote
With the development of gambling platforms though, web3 features such as connecting your own crypto wallet is already in place. You don't have to make a deposit anymore. So that's something provided by crypto gambling platforms that's probably anonymity-friendly.
This is the only better option that remains, but they do not support bitcoin.

Unfortunately, yeah, but I think it's probably just a matter of time before Bitcoin wallets could be connected to crypto casinos and betting sites.

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August 06, 2023, 02:57:06 AM
 #95

-snip-

I also think that the only path for crypto casinos is to be regulated by the government.  Since the majority of crypto casino are using a centralized service of the game providers, they will end up implementing KYC for account verification purposes and to comply with the regulation's rule.  I also think that those who are yet to mandatory implement KYC will be bind by this requirement sooner or later.  As long as the business is owned by a company, it has to be registered and needs to follow the regulatory rules.
In the long term whether it's long or not but I feel also in the future all gambling sites will require KYC verification and this will be the rule every gambling site must follow.
Not only is it a matter of licenses but also the local government which has legality laws against the gambling industry.
But I'm still a little thinking what it will be like for all of them gamblers who don't like KYC and always prioritize Anonymity, will they also comply with mandatory KYC rules or will they leave gambling sites because of maintaining anonymity.

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August 06, 2023, 03:16:53 AM
 #96

Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.
Most of what I know, every casino out there doesn't want to know who played on their casino. because it doesn't important who and where, the casino only cares about you play with comfortably, because of that they want to know by KYC, the rule in every country is to limit that, and won't under age play and enjoy your casino. I think if the government does not restrict "must KYC",  all the casinos here don't require it.

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August 06, 2023, 06:47:28 AM
 #97

Most of what I know, every casino out there doesn't want to know who played on their casino. because it doesn't important who and where, the casino only cares about you play with comfortably, because of that they want to know by KYC, the rule in every country is to limit that, and won't under age play and enjoy your casino. I think if the government does not restrict "must KYC",  all the casinos here don't require it.
Won't under age play and enjoy casino? I hope that is not what you mean. You need to edit your post because that is what that post means.

Casinos wants their customers to play comfortably and the reason they want KYC? No.

I think if the government does not restrict "must KYC",  all the casinos here don't require it? Are you serious with this your wrong information. Government does not restrict 'must KYC. The government are the ones encouraging KYC because of AML and CTF purposes.

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August 06, 2023, 07:13:43 AM
 #98

Quote
Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.

Am i wrong to think that this information on the internet needs to be updated.

Many people had the misconception that crypto gambling is somewhat better than fiat gambling, mostly because of the idea that crypto brings more privacy and anonymity. In reality crypto gambling is no different than fiat gambling. The only difference are the payment methods.
The crypto casinos don't ask for KYC because they desperately want your private data. They are asking for KYC, because they have to fight money laundering. If a casino gets caught in a money laundering scheme, the casino owner will have big problems.
Nowadays most shady crypto casinos ask for KYC only to use it as an excuse to block the gambler and refuse to pay his winnings.

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August 06, 2023, 08:05:18 AM
 #99

Because of KYC verification which is now done by most crypto casino to know the people who gamble on their casino, I think anonymity is no longer a benefit of gambling with cryptocurrency in crypto casino.
Leave the casinos requiring KYC for each of their users as privacy is no longer maintained. The reason we choose their casino to play on the consideration of the anonymity provided to each player will be anonymous. If KYC has been implemented, then they have pushed away every player who wants privacy to be maintained and the next option is to look for another crypto casino that does not enforce KYC even though later every crypto casino operating in the territory of a legal country will implement KYC for reasons of obtaining licenses and so on.

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August 06, 2023, 08:36:00 AM
 #100

So, just leave the balance on your account, don't withdraw, just gamble from the balance that you have because that's all you can, you can't beat casino and come with winnings, otherwise casinos wouldn't exist. So, just leave the balance as it is, come back days or weeks later, gamble and repeat. This way, you'll avoid KYC verification while still be able to gamble anonymously.

This is such bad advice on so many levels. Regardless of KYC, the same principle applies as with centralized exchanges: one should never hold significant amounts on any online casino or any other online platform. And if you still believe that your advice holds merit, consider explaining it in light of recent events related to the Betnomi platform and its customers, for instance.

You have to be smart when you choose casino. How could one gamble on Betnomi after such a shady accident?. If you can't do research yourself, then stick with casinos like Stake or sportsbet, they won't do an exit scam, they are enormously huge, popular and wealthy for that.
You totally misunderstood what I wrote, I don't suggest anyone to hold a lot of money, please re-read my post.

So, just leave the balance on your account, don't withdraw, just gamble from the balance that you have because that's all you can, you can't beat casino and come with winnings, otherwise casinos wouldn't exist. So, just leave the balance as it is, come back days or weeks later, gamble and repeat. This way, you'll avoid KYC verification while still be able to gamble anonymously.

Just like centralized platforms, it is not advisable to keep much funds in a casino platform because you want to avoid providing KYC. If you are not comfortable with a casino that asked for personal information, the best option is to seek any other one that is less stringent regarding KYC. But the truth is that most reputable casinos asked for KYC, but some are less stringent than others.
I'm saying that if you are an active gambler, there is a very high chance that you won't beat casino and overall, you'll be in loss. So, if you are going to gamble over and over again, there is no point to withdraw those coins because of KYC. Just leave them and gamble when you visit casino next time. I see no point in withdrawing of 1 BTC and then depositing it again when you know you'll lose.

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