Bitcoin Forum
June 26, 2024, 08:41:04 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 7 8 9 [10]  All
  Print  
Author Topic: Do you think casinos can stop demanding KYC?  (Read 1111 times)
Strongkored
Legendary
*
Offline Offline

Activity: 2814
Merit: 1112


Leading Crypto Sports Betting & Casino Platform


View Profile WWW
June 19, 2024, 04:39:14 AM
 #181

Casinos existed without the need for KYC's until the government made it a requirement, and they started demanding it. IMO If the government no longer requires casinos to do KYC verification for new gamblers, casinos will go ahead and still do KYC verifications because they have seen the benefits of knowing their customers better than when they just allowed people to come onto their platform and gamble without their knowledge of who they were. What do you think? Do you think some casino's will revert back to non-KYC and allow money launderers, plus other fraudulent people have their easy way with them as a way to attract customers, or since they recognize the personal benefits of KYC to their casino, will continue demanding it even if it affects their customers?
Firstly, the government will never change its rules regarding KYC, in fact they will probably try to implement things that are more difficult, and it has become a habit to be able to control its people, but if that happens, I doubt the casinos will also become non-KYC, without meaning to accuse the casinos, we have often seen how casinos use KYC reasons to withhold their users' money when it comes to large funds, and this seems to be effective.
Many casinos don't mention KYC clearly, meaning they only ask their players to do it because of certain circumstances, so there are also casinos that actually don't like to implement KYC on their users, so in my opinion if that happens then there will be two camps of casinos that stick with KYC and casinos that are truly free from KYC, I'm sure there will still be fans of casinos with KYC like traders who still choose CEX even though there are DEXes that don't require KYC.

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
ethereumhunter
Hero Member
*****
Offline Offline

Activity: 2940
Merit: 542


Leading Crypto Sports Betting & Casino Platform


View Profile
June 19, 2024, 07:21:49 AM
 #182

It is highly unlikely that various casinos will stop claiming KYC procedures. Because regulatory requirements aimed at preventing money laundering, fraud and other financial crimes are unlikely to stop it. Casinos are required to verify the identity of their patrons and ensure compliance with the law. So that it can provide complete protection against illegal activities. All of these issues are troublesome for the customer but are an essential part of the casino industry to maintain security.
It quite unfortunate that Casinos only ask if the user registering the account is up to 18 without them working on further verification process, and children below 18 can simply register without the casino even knowing. Though even some adult would prefer not to go through the process of providing a means of verification to prove that they are actually up to 18, and I believe this is among the reason why casino decided to start showing less concern for the verification process. The KYC process is really important to the casino and also and also to the society as it would also reduce the number of persons creating multiple accounts for abuse.
Casinos will asks their new users if they are up 18 years or not but casinos will asks them to continue with the KYC process later so casino can knows who are their users. Casino with reputations doesn't wants to gets a problem so they will asks their users to do KYC. Casino will not wants to stops demanding KYC for their user because casino knows that their place can be a targets for those who wants to do money laundry or other crimes.

That's why we must be careful when selecting the casino and makes sure that the casino have a good reputations so we don't have to worry if they will abuses our identity for other bad things. When we can have a reputable casino and they asks us to do KYC, we can follows the instruction without have a bad thinks if the casino will scams us. Maybe in the future, the government will forces all casino to apply KYC for their users so the governments can watch and monitor people who often playing gambling.

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
Cryptoprincess101
Full Member
***
Online Online

Activity: 252
Merit: 120



View Profile
June 19, 2024, 08:52:11 PM
 #183

It is highly unlikely that various casinos will stop claiming KYC procedures. Because regulatory requirements aimed at preventing money laundering, fraud and other financial crimes are unlikely to stop it. Casinos are required to verify the identity of their patrons and ensure compliance with the law. So that it can provide complete protection against illegal activities. All of these issues are troublesome for the customer but are an essential part of the casino industry to maintain security.

If casinos stops KYC procedures it will become so risky because it definitely will be the refuge of money launderers in the sense that they will feel they can just deposit money in their casino accounts and make withdrawal whenever they wish to and any system without regulations makes it become porous because there will be so many irregularities and untrusted activities that will be going on and a lot of people may not even like to use any casino without KYC requirements since it is mostly fraudsters and criminals that doesn't like their identity to be known when involving in any financial dealings with any company or organization.

Oilacris
Hero Member
*****
Offline Offline

Activity: 3080
Merit: 617


casinosblockchain.io


View Profile
June 19, 2024, 09:15:13 PM
 #184

It is highly unlikely that various casinos will stop claiming KYC procedures. Because regulatory requirements aimed at preventing money laundering, fraud and other financial crimes are unlikely to stop it. Casinos are required to verify the identity of their patrons and ensure compliance with the law. So that it can provide complete protection against illegal activities. All of these issues are troublesome for the customer but are an essential part of the casino industry to maintain security.

If casinos stops KYC procedures it will become so risky because it definitely will be the refuge of money launderers in the sense that they will feel they can just deposit money in their casino accounts and make withdrawal whenever they wish to and any system without regulations makes it become porous because there will be so many irregularities and untrusted activities that will be going on and a lot of people may not even like to use any casino without KYC requirements since it is mostly fraudsters and criminals that doesn't like their identity to be known when involving in any financial dealings with any company or organization.
And come to think that being not regulated or something not being licensed will really be not that good into peoples view and on the moment that they will really be getting one then expect that they would really be that getting in line with government rules and regulations on which it would really be that definitely be that normal that they would really be applying those KYC on which we know that this is really just that typical for a centralized or licensed business specially gambling industry is really that having that money laundering kind of protection on which it will really be normal that they will really be setting those bars. This is why to those platforms which arent asking some KYC as of this moment will really be that be having those possible integration in the future when things becomes more strict
specially into these type of businesses.

Pages: « 1 2 3 4 5 6 7 8 9 [10]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!