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Author Topic: Anonymity is no longer a benefit of gambling with cryptocurrency.  (Read 1743 times)
Haunebu
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August 07, 2023, 06:13:31 PM
 #121

Almost all the crypto gambling companies are accepting KYC. It is difficult to see a truly non kyf casino.
Many people get scammed in the process of searching for a non kyc gambling.
Gradually everyone is buying into the KYC ideology apart from highly privacy people.
It is not only in the hands of the gambling companies to determine if they will go for kyf or not, but is also determined by the governments who licenced them to operate with certain conditions.
There are still a couple of casinos that don't require any form of KYC and only enforce it when dealing with big amounts or when they find something suspicious. Examples are Crypto.Games, Bitcasino, Fairlay etc.

Silver lining here is that non-KYC casinos will always exist though they will almost always be less popular when compared to KYC casinos.

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August 07, 2023, 10:47:53 PM
 #122

Almost all the crypto gambling companies are accepting KYC. It is difficult to see a truly non kyf casino.
Many people get scammed in the process of searching for a non kyc gambling.
Gradually everyone is buying into the KYC ideology apart from highly privacy people.
It is not only in the hands of the gambling companies to determine if they will go for kyf or not, but is also determined by the governments who licenced them to operate with certain conditions.
There are still a couple of casinos that don't require any form of KYC and only enforce it when dealing with big amounts or when they find something suspicious. Examples are Crypto.Games, Bitcasino, Fairlay etc.

Silver lining here is that non-KYC casinos will always exist though they will almost always be less popular when compared to KYC casinos.
I cant say that they would becoming less popular but rather be going the opposite since we know that majority of people here on crypto space would definitely be going into those things or places which are truly

decentralized because if we do try to look back on what crypto market or space should be then it should really be on the decentralized and fully anonymous kind of area on which even if things turns out to be having those changes due to regulatory actions made out by the government and trying out to regulate those platforms which is involved on crypto and make out huge revenues then its always been that good to see
or look that there are still some corners who do really still strongly stick into this space.

Its true that nowadays it turns out on becoming more strict when it comes to regulation aspects which its not really that shocking because government do really love to stir up things
according into their likes. Somewhat despite of such changes, we could still able to play with our favorite platforms that we do have on this space.

R


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August 07, 2023, 11:50:37 PM
 #123

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.
Earlier gambling platforms did not require KYC. As a result, a gambler could easily keep him anonymous and gamble. But those benefits are slowly shrinking. Most of the gambling platforms now require KYC. Be sure to complete KYC on all sites that are reliable. Moreover, casino platforms emphasize on doing KYC directly. As a result, if someone is unwilling to do KYC, he may face a big problem at any time. I think your words have enough logic in that respect. There are still some casino platforms that do not require KYC. But in the future, those platforms may compel to do KYC.

The funds from the customer will be frozen once they were not doing KYC. It's a must caused by it's also a part of how the platform can comply with the regulation. Seeing some casinos are not so strict in applying KYC for its users.
KYC is a must for any gambling platforms users with big amounts of money. AML is the main purpose why gambling platform must implement KYC verification to make sure the regulators will not take a fight against them. It will be also affect their business.
All of platforms are requiring KYC now. I think that only illegal platform who didn't implement KYC verification. Legal gambling operator must be compliant with the regulation.
There's no reason for not to implement KYC verification as this order was also coming from regulators.

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August 08, 2023, 12:30:16 AM
 #124

Almost all the crypto gambling companies are accepting KYC. It is difficult to see a truly non kyf casino.
Many people get scammed in the process of searching for a non kyc gambling.
Gradually everyone is buying into the KYC ideology apart from highly privacy people.
It is not only in the hands of the gambling companies to determine if they will go for kyf or not, but is also determined by the governments who licenced them to operate with certain conditions.
There are still a couple of casinos that don't require any form of KYC and only enforce it when dealing with big amounts or when they find something suspicious. Examples are Crypto.Games, Bitcasino, Fairlay etc.

Silver lining here is that non-KYC casinos will always exist though they will almost always be less popular when compared to KYC casinos.

If you want my opinion, popularity is directly associated with the daily volume of crypto a casino handles, which is also correlated to the attention a casino can receive from authorities.

What I am trying to say is that nonKYC casinos will be always less popular and known than KYC ones, because if a nonKYC casino becomes big enough, they may be forced by law to comply with document requirements to their gamblers, otherwise they would get their website at stake and all their business could disappear.

It is somewhat similar to what happened to exchanges, their CEOs decided that it was more important to keep the money flowing than the ideals of privacy and preservation or their clients and investors

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August 08, 2023, 06:51:22 AM
 #125

Almost all the crypto gambling companies are accepting KYC. It is difficult to see a truly non kyf casino.
Many people get scammed in the process of searching for a non kyc gambling.
Gradually everyone is buying into the KYC ideology apart from highly privacy people.
It is not only in the hands of the gambling companies to determine if they will go for kyf or not, but is also determined by the governments who licenced them to operate with certain conditions.
There are still a couple of casinos that don't require any form of KYC and only enforce it when dealing with big amounts or when they find something suspicious. Examples are Crypto.Games, Bitcasino, Fairlay etc.

Silver lining here is that non-KYC casinos will always exist though they will almost always be less popular when compared to KYC casinos.
You are speaking facts, there are some online casinos that are non-KYC platforms, but it's better for users to be prepared, those who moved from non-KYC casinos into KYC requirements KYC turned around in a day, the same thing can happen from these online casinos.

Rather than thinking such day will never come, and you comfortably gamble on such platforms, there might come a day where you will be asked for KYC verification and if you have some money trapped on the platform at the time, you will be left with two choices, either you leave your money and safe yourself from passing the KYC verification or you find means to submit your details and get your funds out.

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August 08, 2023, 08:41:23 AM
 #126

You are not wrong, things have changed since when cryptocurrency casinos were first introduced, and those who aren't involved with them much these days might have different views about them and they are still living in the past, probably. This article you've taken this from and provided a link to isn't very old, it was published on May 21, 2023, so the writer probably did his research by reading old information online where this information isn't updated.

There might be a few casinos that might not be asking their customers to complete KYC verification even today, but it is not happening all around, and most cryptocurrency casino platforms would ask their customers to complete KYC verification at one point during their journey with them.

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August 08, 2023, 12:55:13 PM
 #127

What I am trying to say is that nonKYC casinos will be always less popular and known than KYC ones, because if a nonKYC casino becomes big enough, they may be forced by law to comply with document requirements to their gamblers, otherwise they would get their website at stake and all their business could disappear.
True. Gaining more popularity is a double edged sword for non-KYC casinos. Shady non-KYC anonymous sites are the only ones that would be fine even if they gained more popularity, but the risk is a lot higher obviously.

Rather than thinking such day will never come, and you comfortably gamble on such platforms, there might come a day where you will be asked for KYC verification and if you have some money trapped on the platform at the time, you will be left with two choices, either you leave your money and safe yourself from passing the KYC verification or you find means to submit your details and get your funds out.
This is a big deal only for gamblers who value their privacy over everything else and there are a lot of them in the crypto world.

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August 08, 2023, 01:41:08 PM
 #128

You are not wrong, but there are still casinos that requires no KYC, more of them will later request there customers for KYC verification. Nearly all the crypto gambling sites of today are centralized. Although some are claiming to be web3 which you can connect your noncustodial wallet to, which are not centralized. But as for centralized gambling sites, we should not think of them as no KYC gambling sites, there are still few that require no KYC though for low amount withdrawal.
Most casino sites allow withdrawal without a certain amount without  KYC verification But it is not a huge amount.  So if you want to gamble with a large amount or want to withdraw after winning a huge amount, you must complete KYC verification.  In this case the gambler cannot maintain anonymity.  So I agree with you that anonymity never allows to enjoy a big profit. And even in any sector other than gambling, personal documents must be submitted in case of any large amount transaction.



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August 08, 2023, 04:40:24 PM
 #129

What I am trying to say is that nonKYC casinos will be always less popular and known than KYC ones, because if a nonKYC casino becomes big enough, they may be forced by law to comply with document requirements to their gamblers, otherwise they would get their website at stake and all their business could disappear.
True. Gaining more popularity is a double edged sword for non-KYC casinos. Shady non-KYC anonymous sites are the only ones that would be fine even if they gained more popularity, but the risk is a lot higher obviously.

Rather than thinking such day will never come, and you comfortably gamble on such platforms, there might come a day where you will be asked for KYC verification and if you have some money trapped on the platform at the time, you will be left with two choices, either you leave your money and safe yourself from passing the KYC verification or you find means to submit your details and get your funds out.
This is a big deal only for gamblers who value their privacy over everything else and there are a lot of them in the crypto world.

I don't think they would be fine if they are shady and not so reliable, because people talks, reviews and recommends casinos around the internet. If the casino is indeed non-KYC and becomes popular because the high quality of its services, then as popularity grows, it would become more likely to be noticed by regulators and be shutted down.

If the casino is non-KYC but it's services are not that good, people won't recommend it and the volume will stay low, so will the attention from regulators.

That is why I say it is very unlikely we will ever find a big casino which chooses the anonimity of gamblers over high profit.

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August 08, 2023, 06:56:56 PM
 #130

If the casino is non-KYC but it's services are not that good, people won't recommend it and the volume will stay low, so will the attention from regulators.
This isn't entirely accurate sadly. Take 1xbit for example. They are a shady site who promote anonymity and don't enforce mandatory KYC, but many gamblers are still playing there at present.

Regulators cannot really do much against such sites whose operating locations are in complicated areas.

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August 08, 2023, 07:14:26 PM
 #131

You are not wrong, but there are still casinos that requires no KYC, more of them will later request there customers for KYC verification. Nearly all the crypto gambling sites of today are centralized. Although some are claiming to be web3 which you can connect your noncustodial wallet to, which are not centralized. But as for centralized gambling sites, we should not think of them as no KYC gambling sites, there are still few that require no KYC though for low amount withdrawal.
Most casino sites allow withdrawal without a certain amount without  KYC verification But it is not a huge amount.  So if you want to gamble with a large amount or want to withdraw after winning a huge amount, you must complete KYC verification.  In this case the gambler cannot maintain anonymity.  So I agree with you that anonymity never allows to enjoy a big profit. And even in any sector other than gambling, personal documents must be submitted in case of any large amount transaction.

Well, I've been looking for casinos that don't have that functionality to ask for KYC but it's very difficult, even freebitcoin itself is already asking for KYC, it's not something that stays up for me, but I don't like that when I go to withdraw the money they ask me for the KYC, it's annoying, because that delays me being able to get my money quickly, because when they ask for the kyc it always takes a few days and I want my money immediately, and that's why I say it's a bother, they should lose the KYC before making the deposit, because that is what indicates whether or not we want to be in the casino, instead with the withdrawal they are already like Conditions, it looks bad.

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August 08, 2023, 07:46:52 PM
 #132

You are not wrong, things have changed since when cryptocurrency casinos were first introduced, and those who aren't involved with them much these days might have different views about them and they are still living in the past, probably. This article you've taken this from and provided a link to isn't very old, it was published on May 21, 2023, so the writer probably did his research by reading old information online where this information isn't updated.

There might be a few casinos that might not be asking their customers to complete KYC verification even today, but it is not happening all around, and most cryptocurrency casino platforms would ask their customers to complete KYC verification at one point during their journey with them.

At the beginning of cryptocurrency was launched,the people get into cryptocurrency for the Anonymity.But the anonymity was not available in cryptocurrency based gambling because of the KYC in gambling is mandatory one.Some people finding the gambling site without kyc for still hold the anonymity,but the gambling without kyc is more riskier one.Even it will steal your money after winning by asking to complete kyc at the time of withdrawal.Then it will say the withdrawal is not available to your country and sorry for the inconvenience.Then it allow only to withdraw the deposit money from the gambling and it show you like a trusted website.But the fact is they scam your winning money at the end.
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August 08, 2023, 08:33:33 PM
 #133

You are not wrong, things have changed since when cryptocurrency casinos were first introduced, and those who aren't involved with them much these days might have different views about them and they are still living in the past, probably. This article you've taken this from and provided a link to isn't very old, it was published on May 21, 2023, so the writer probably did his research by reading old information online where this information isn't updated.

There might be a few casinos that might not be asking their customers to complete KYC verification even today, but it is not happening all around, and most cryptocurrency casino platforms would ask their customers to complete KYC verification at one point during their journey with them.

At the beginning of cryptocurrency was launched,the people get into cryptocurrency for the Anonymity.But the anonymity was not available in cryptocurrency based gambling because of the KYC in gambling is mandatory one.Some people finding the gambling site without kyc for still hold the anonymity,but the gambling without kyc is more riskier one.Even it will steal your money after winning by asking to complete kyc at the time of withdrawal.Then it will say the withdrawal is not available to your country and sorry for the inconvenience.Then it allow only to withdraw the deposit money from the gambling and it show you like a trusted website.But the fact is they scam your winning money at the end.
Wayback into those early years of crypto gambling where most of platforms arent asking KYC but now they are gradually turning out to be like a typical fiat casino.Although there are still some who are still that following that general idea or being totally anonymous but of course this would be only good if you wont really be able to reach out some threshold in speaking about on the amount you deposited or won up because on the time that you would be reaching out some high numbers then this is where KYC do normally kicks in.

Wayback on which these platforms arent really that minded whether they are licensed or not as long they are paying then its considered to be that legit and reputable but now most people are really that looking for their licenses on which this one is really that considered or does indicate that they are legit nowadays even dont mind about being becoming that centralized one. Well thats something inevitable
which changes and regulation wants to touch up on everything.

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August 09, 2023, 06:09:07 AM
 #134

Well, I've been looking for casinos that don't have that functionality to ask for KYC but it's very difficult, even freebitcoin itself is already asking for KYC, it's not something that stays up for me, but I don't like that when I go to withdraw the money they ask me for the KYC, it's annoying, because that delays me being able to get my money quickly, because when they ask for the kyc it always takes a few days and I want my money immediately, and that's why I say it's a bother, they should lose the KYC before making the deposit, because that is what indicates whether or not we want to be in the casino, instead with the withdrawal they are already like Conditions, it looks bad.
It depends on you because there are still casinos that allow gamblers not to do KYC as long as the gambler bets small money. But if you want to exceed the limit, you have to do KYC because by doing KYC, you can gamble big money and not worry about anything. Processing KYC from gamblers does take time so casinos cannot process it right away so gamblers have to be patient and wait for it. The casino carries out the verification process to ensure its members are not connected to any illegal activity, so the casino must check this in more detail. And the process is only done once; after that, you don't need to worry if you want to withdraw or deposit money.

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August 09, 2023, 04:05:00 PM
 #135

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 but still there is some level of anonymity remain since only the casino holds your identity while they don’t all your information to the government unless it was ask to them. In a sense, You are still anonymous in the eyes of everyone including the government as long as the casino you are playing is truly protecting your KYC credentials. If we compared IRL to crypto casino, Crypto is still considerable as anonymous because no one knew that you are gambling because our accounts doesn’t have our personal information to the public compared when playing physically or other fiat casino that usually ask our bank account for deposit purposes.

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August 09, 2023, 04:31:14 PM
 #136

If the casino is non-KYC but it's services are not that good, people won't recommend it and the volume will stay low, so will the attention from regulators.
This isn't entirely accurate sadly. Take 1xbit for example. They are a shady site who promote anonymity and don't enforce mandatory KYC, but many gamblers are still playing there at present.

Regulators cannot really do much against such sites whose operating locations are in complicated areas.

That is a casino which I would consider to be a special case, though. Because we all know it operates as a branch of a bigger and more widely know brand, which is 1xbet.

By the way, we do not have a reliable way to know what the volume of 1xbit is, they may have a relatively low volume of deposits and actual users and the brand is used just as a platform to scam people around the gambling ecosystem, because no actual gambler would continue to deposit there, and risk their money.

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August 09, 2023, 04:52:10 PM
 #137


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're not wrong because the authorities are trying all they can to make sure crypto casinos are very unattractive because people has been finding cryptocurency casino more nice to use than traditional casinos as transaction are done anonymously but that has changed.

The requirements of KYC been requested by every crypto casino has taken the anonymity from gambling as every account is now linked to a face that the government can get access to whenever they want by going to the casino to request for them based on security measures.

These casino don't have to blamed because the bad eggs among us has been using crypto casino for their evil plans like money laundering and other illegal activities. We can stay anonymous by not letting our personal wallet linked with our gambling accounts by using mixers.

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August 09, 2023, 05:50:40 PM
 #138

I was reading and I saw something that I would have agreed with before, but not anymore because of how much things have changed in the crypto gambling.

Quote
Faster and more secure transactions: Crypto transactions are processed much faster than traditional bank transfers, and they are also more secure.
   
Anonymity: Crypto casinos allow players to remain anonymous, which is appealing to some players.
   
Wider variety of games: Crypto casinos offer a wider variety of games than traditional online casinos.
   
More generous bonuses: Crypto casinos often offer more generous bonuses than traditional online casinos.

https://indiacsr.in/what-is-a-crypto-casino-meaning-advantages-and-potential-risks-explained/


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.

Gambler's face a catch 22 situation when it comes come crypto and trying to retain anonymity. It's in the government sights now and while it is probably only the US government that can put immense pressure on businesses to comply, they take great efforts to stamp out money laundering if they can. It also leaves you in the situation where most legit companies now comply so they can access infrastructure and services which help to protect them against things like DDOS attacks. The owners have to take big risks if they don't use such services, which identify the owners and make them liable to threats from financial regulators all over - including the threat of jail time.

R


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August 09, 2023, 07:05:30 PM
 #139

Almost all the crypto gambling companies are accepting KYC. It is difficult to see a truly non kyf casino.
Many people get scammed in the process of searching for a non kyc gambling.
Gradually everyone is buying into the KYC ideology apart from highly privacy people.
It is not only in the hands of the gambling companies to determine if they will go for kyf or not, but is also determined by the governments who licenced them to operate with certain conditions.
There are still a couple of casinos that don't require any form of KYC and only enforce it when dealing with big amounts or when they find something suspicious. Examples are Crypto.Games, Bitcasino, Fairlay etc.

Silver lining here is that non-KYC casinos will always exist though they will almost always be less popular when compared to KYC casinos.
Yea, there are a couple of non KYC casinos but they are a few compared to the number of KYC casinos available in the industry.
I know of gambling companies that set KYC only when the winning is high. I do not think that this is right.
If there are no limits to deposit, there shouldn't be limits for withdrawal.  But the reality is that nothing is totally done to guarantee 100 % freedom. This is to prevent exploitation by random people . Because there some malicious people who are just seeking of loopholes to exploit

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mirakal
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August 09, 2023, 09:59:27 PM
 #140

You are indeed right. Anonymity does not somehow a big issue at the moment since most of the casinos are actually requiring KYC most especially for big time players. Although there might be some few gambling casinos who are not into KYC verification, but I believe their system will definitely be updated and will require KYC sooner because that’s what the government requires them to do so.

However, there’s still some factors that we still become anonymous from others, but not from the casinos personal staffs. Maybe let’s just accept the reality that KYC will be compulsory in all centralized casinos all over the world. This is not only made out from the government wanting to control everything, but also for the sake of gamblers security and protection.

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