why some players still fear kyc?

[Satofan44]

Why the fuck should someone not fear KYC? It brings no benefit to you, it brings no objective business benefit to the platform -- it provides an avenue for control and abuse, and creates a massive risk for everyone involved. If it is mandated by a government, then the platform is putting itself and its users into jeopardy but it has no choice. If it is self-imposed, then the owners are possibly malicious. Does KYC prevent crime? No. Does KYC prevent money laundering? No. Does KYC prevent abuses by players against the platform? Also no. All it does is make those things slightly harder and nothing more than that, but slightly harder is completely useless for all of those things. It may prevent some random idiot from doing money laundering, it will not prevent any serious criminal from doing whatever he wishes -- they have an endless supply of people that can do KYC, willingly or forcefully.

On the other hand, this allows company employees that are malicious to abuse you in many ways. If you have a lot of volume employees can sell your information to criminals in your area. If you have big winnings they can do the same and the list of situations that may occur is endless. No benefit, only risk.

[boltz]

They fear KYC because they are operating between legal and illegal and their money probably come from dark sources and all they want is to deposit, wager and withdraw. However , there are super legit people that really don't want to make KYC because of the country they live and many other reasons. These type of people will always look to use non-kyc websites and platforms.

Some years ago I was in favor of not doing KYC in a lot of casinos and exchanges but with time passing by , I personally  trust less websites without KYC.  ( as long as I really need to use the website  , otherwise , I don't mind kyc or not kyc ).

[DrBeer]

I agree that in a crypto world where anonymity was at the core of the ideology, KYC is an unnatural process.
But... Any platforms that operate in the official field are EXPECTED to operate within the laws of the jurisdiction of the country of registration and/or provision of services.
And that's the side played by the government, which, habitually, wants to have information about the finances of its citizens. The fact that the sites have added cryptocurrencies for payment does not mean that they are “cryptocurrency sites within the ideology of cryptocurrencies”, no !
It's just a tribute to fashion and convenience to meet the desires of customers. Key among them is the cross-boarding of payments.

Bottom line - for platforms working in the legal field KYC is a measure imposed but mandatory for implementation, for players - the right to choose platforms for you - official or unofficial.....

Money regulators fear casino because anything that involves money transmitting can be use for money laundering and that's why kyc becomes a compulsory factor to have a regulated casino works efficiently without the government interfering with any of their affairs. However, some casino implemented twice wager before gamblers can withdraw their money so people can use kycless casino but the government doesn't buy that, you must be regulated as things can happen in the Background even with the rules.

From my opinion, I don't see kyc as problem, if not for how some casinos are very lazy with how they handle customers data, some reputable and popular casino requires each gambler to kyc before you can deposit and use their casino and also withdraw. If you want to risk it, you can gamble with casino that does not ask for kyc but it's own your risk.

Yes, that’s exactly why casinos that operate within the law require KYC. But if you’re not breaking the law, what’s there to be afraid of?
I’d say there are two main "fears":
1. The fear of receiving a letter from the tax authorities asking you to pay taxes.
2. "Data disclosure". This topic has always interested me, because we’ve all already left such a huge amount of data wherever possible that even a leak of your full name and email address is unlikely to pose any potential threat at all!

[348Judah]

The procedures to kyc is not that difficult, but many are not found trustworthy when it comes to a information's about themselves from using a gambling platform, this is why it is difficult for them to provide all the necessary information as requested for kyc purpose, but when we have all this as required, there's nothing stopping us from providing them when we know that it will determine our chances of using their platform programming purpose, once we have some verified information about ourselves.

[danadc]

I don't see that fear as a bad thing. Whenever we have to leave our documents somewhere, it's never truly secure, especially for those with a lot of money. Millionaires avoid those who ask for KYC because it's dangerous for their safety. A failure on one of those platforms could lead to theft of all those documents, and they might not be able to locate the person. So, we shouldn't normalize something that shouldn't be required. It's just that now they've normalized this KYC thing under the guise of preventing capital flight, minors, etc.

[Satofan44]

They fear KYC because they are operating between legal and illegal and their money probably come from dark sources and all they want is to deposit, wager and withdraw. However , there are super legit people that really don't want to make KYC because of the country they live and many other reasons. These type of people will always look to use non-kyc websites and platforms.

Some years ago I was in favor of not doing KYC in a lot of casinos and exchanges but with time passing by , I personally  trust less websites without KYC.  ( as long as I really need to use the website  , otherwise , I don't mind kyc or not kyc ).

This is complete nonsense. Anyone who has any significant amount of money from the gray area or illegal area and has a working brain can easily buy KYC services and bypass this. It has nothing to do with this, only human examples of savages would think about concepts like KYC on a low level like this relating to illegal or legal money -- that is also why many of them would sell their own data for cheap, they literally are not able to look past some impulses that they get. Delayed gratification is science fiction concept for savages. I have literally explained it above this post, and you indicate that you do not read any replies in this thread. Any person that has evolved beyond basic animal instincts will place a high value on notions such as personal privacy and freedom, both of which are severely impaired by any kind KYC in any kind of context.

I don't see that fear as a bad thing. Whenever we have to leave our documents somewhere, it's never truly secure, especially for those with a lot of money. Millionaires avoid those who ask for KYC because it's dangerous for their safety. A failure on one of those platforms could lead to theft of all those documents, and they might not be able to locate the person. So, we shouldn't normalize something that shouldn't be required. It's just that now they've normalized this KYC thing under the guise of preventing capital flight, minors, etc.

There is no benefit to KYC, only downsides for normal people. Unfortunately many people are still mentally handicapped and are not any more advanced than wild beasts, they would sell their personal data for a small amount of money or even worse they would voluntarily submit it wherever asked instead of reasoning and backing out of their intended actions. Because these laws and regulations are pushed by powers that be, the actual number of victims is suppressed in the mainstream news. This is how they placate the weak minded and the foolish, by controlling what is released in the most widely circulated news and how often. Even the best and most secure platforms get hacked and often compromise the data of millions of people, casinos especially those that do not invest or care about information security stand no chance. It is almost equal to publishing your full data in a public post.

[memehunter]

If it is mandated by a government, then the platform is putting itself and its users into jeopardy but it has no choice.

Yeah, that is the bigger part of the equation. There is no choice left for big enough casino regarding KYC. Sooner or later if any anonymous casino gets big enough, it will be targeted by the feds.

 

If it is self-imposed, then the owners are possibly malicious.

IMO, if a casino has no valid license and operation anonymously, it has no right to ask for KYC. If that is required for preventing/limiting abuse, make other measures.

[DrBeer]

I don't see that fear as a bad thing. Whenever we have to leave our documents somewhere, it's never truly secure, especially for those with a lot of money. Millionaires avoid those who ask for KYC because it's dangerous for their safety. A failure on one of those platforms could lead to theft of all those documents, and they might not be able to locate the person. So, we shouldn't normalize something that shouldn't be required. It's just that now they've normalized this KYC thing under the guise of preventing capital flight, minors, etc.

The problem is that cryptocurrency has become an alternative way to circumvent all sorts of restrictions. There is so much information about us in the fiat world that it is scary to imagine. Banks know everything about us - how much we receive, how much we spend, where we buy, when we buy, to whom we transfer money, from whom we receive money.... But in the banking system, we have already been "KYC'd from birth"...
And nobody cares about it here, although we are 99% present in the fiat world and only 1% in the crypto world.

[Dunamisx]

I don't know why some people still see kyc as a threat to them, there's nothing hard in providing your information to prove that you are the rightful owner of an account and complete their account verification process, while those that can afford this should be able to make use of a casino platform that does not require for kyc, that is why they are there and being made available for those that will be interested to use them for gambling.

[Betwrong]

Some gamblers avoid KYC because they’re scared their info might get leaked. But if you think about it, any legit casino knows that leaking customer data is basically killing their own business. No company throws away millions just to expose a few IDs.

The real key is choosing a reputable casino, the kind that actually has something to lose if they mess up. If the platform is established and trusted, the risk is far lower than what most players imagine.

I completely agree with this. Big reputable casinos are not interested in selling their customers' personal info for cents to some scammers. Normally it's some governmental offices and telecommunications companies. Not the whole offices or companies, but some people who work there. For some reason, people that have no values end up working there(with some exceptions, of course).

[Johnlomape]

I don't know why some people still see kyc as a threat to them, there's nothing hard in providing your information to prove that you are the rightful owner of an account and complete their account verification process, while those that can afford this should be able to make use of a casino platform that does not require for kyc, that is why they are there and being made available for those that will be interested to use them for gambling.

Casinos will want to prove if you are using their casino from a restricted location and this is one of the resosns why they often ask for KYC from their users to verify a lot of things not just to know your location alone. Apart from submitting your information for verification for a casino use, it is our duty to protect our information so that it doesn't get leaked to the general public where it can be used for scam intentions. If a casino can not protect users information then they don't have to ask for information they cannot keep from the general public. Using third parties to keep these information can be understandable and better.

[vs2014]

I don't worry about it at all but some sites are very painful about kyc. But I am not at all willing to provide this kyc so I don't sign up for any gambling site that has made kyc mandatory. I think it is better to be anonymous when it comes to gambling so I don't want to reveal my identity. Because giving your identity to someone else can be tricky and there is no guarantee that they will not harm you. Gambling is illegal in my country so it is very safe to keep your identity secret there. However, kyc is more effective when you win large amounts of money while gambling.

[Fredomago]

I don't know why some people still see kyc as a threat to them, there's nothing hard in providing your information to prove that you are the rightful owner of an account and complete their account verification process, while those that can afford this should be able to make use of a casino platform that does not require for kyc, that is why they are there and being made available for those that will be interested to use them for gambling.

Casinos will want to prove if you are using their casino from a restricted location and this is one of the resosns why they often ask for KYC from their users to verify a lot of things not just to know your location alone. Apart from submitting your information for verification for a casino use, it is our duty to protect our information so that it doesn't get leaked to the general public where it can be used for scam intentions. If a casino can not protect users information then they don't have to ask for information they cannot keep from the general public. Using third parties to keep these information can be understandable and better.

Also the reason why a gambler fears to submit their KYC, though if you are going to use the platform using your money the risk of having KYC is not y far especially if you win decently, similar to what you just said, casino will use the information in every possible ways like verifying your locations and making sure that the person/gambler who are using their services is a real person and etch.. It's always the gamblers perspectives and point of view if they are willing to submit their personal details.

[Z_MBFM]

Some gamblers avoid KYC because they’re scared their info might get leaked. But if you think about it, any legit casino knows that leaking customer data is basically killing their own business. No company throws away millions just to expose a few IDs.

The real key is choosing a reputable casino, the kind that actually has something to lose if they mess up. If the platform is established and trusted, the risk is far lower than what most players imagine.

People who are afraid of KYC are usually very worried about their own privacy. Casino sites cannot be easily trusted to keep users' personal documents secure. People who do not gamble regularly or are not addicted to gambling but gamble just for fun normally do not want to do KYC verification. Because they gamble occasionally which never makes them serious. That may be why they are not interested in doing KYC. But people who gamble regularly or are addicted to gambling never worry about their personal documents. They are only serious about gambling and they take KYC verification lightly. So I would say doing KYC and being afraid of doing it depends on how serious or not serious one is about gambling.

[snipie]

Basically, I joined a service as "User 1" or player 1 or whatever nickname I select. I played a game and won or I made an ordinary transaction of few hundreds of bucks. Why should I give that service my whole details? When people pay in big stores, online, etc, they just give the necessary information to make the payment being done. I can pay for someone else or pay with someone else card for example. So when I make a transaction in a gambling site or make it in another service I don't see the point of reveling my details to them nor risking it to be leaked and risks having problems. That's what is said by most people I know including myself. I can understand the legal aspects if a single transaction being more than 10k or even 5k but less than that it is a joke.

[arwin100]

Some gamblers avoid KYC because they’re scared their info might get leaked. But if you think about it, any legit casino knows that leaking customer data is basically killing their own business. No company throws away millions just to expose a few IDs.

The real key is choosing a reputable casino, the kind that actually has something to lose if they mess up. If the platform is established and trusted, the risk is far lower than what most players imagine.

I completely agree with this. Big reputable casinos are not interested in selling their customers' personal info for cents to some scammers. Normally it's some governmental offices and telecommunications companies. Not the whole offices or companies, but some people who work there. For some reason, people that have no values end up working there(with some exceptions, of course).

Both of you are right with your opinions, since big casinos won't provably risk their reputation. Because there are many things to lose if it happen there's someone from their team sells the data of their costumers.

The real issue is with those third party platforms or regulators experience data leaking, since they will provably get lots of problem as many people will criticize them.

For sure that all people working at them will do this actions, its just their are sick headed guys will try to exploit their system especially if they know that there's something to get there.

[riscohen4]

I don't think most that are driven by making profit in casinos hardly care about data leak. The ones that actually care still feel not safe even with reputable casinos.

That speaks lack of trust. But still, reputable casinos can still lose your data. Hackers can gain access to the data. But it is unlikely that will happen.

That's why it's best to gamble with registered ®️ and licenced casino. Not just any type of license. But the one that ensures your safety. Cause they are weak license out there.

[AmoreJaz]

I don't worry about it at all but some sites are very painful about kyc. But I am not at all willing to provide this kyc so I don't sign up for any gambling site that has made kyc mandatory. I think it is better to be anonymous when it comes to gambling so I don't want to reveal my identity. Because giving your identity to someone else can be tricky and there is no guarantee that they will not harm you. Gambling is illegal in my country so it is very safe to keep your identity secret there. However, kyc is more effective when you win large amounts of money while gambling.

Just submit your kyc to the sites that you will really use. Because if not, your info is at stake here. So you don't know if a hacker will get in inside their site or there will be stealing of info. Most of the time, this will end up to the highest bidder. So better submit to those sites that you will often use.

Some players still have hesitations because for one, their country may have some restrictions towards gambling and so their identity is at stake. So if you have such situation, better find some alternative that you think won't give you trouble. Next, they are worried about the site itself. On this matter, one thing you can do is just submit to only few sites, the ones that you regularly use. And should be tested proven and trusted in the community. At least, your worries will go away. But if it is a new one, doubt its legitimacy first. Especially if they are requiring kyc and they are not licensed themselves.

[danadc]

The problem is that cryptocurrency has become an alternative way to circumvent all sorts of restrictions. There is so much information about us in the fiat world that it is scary to imagine. Banks know everything about us - how much we receive, how much we spend, where we buy, when we buy, to whom we transfer money, from whom we receive money.... But in the banking system, we have already been "KYC'd from birth"...
And nobody cares about it here, although we are 99% present in the fiat world and only 1% in the crypto world.

If we're already marked from birth, then when we have crypto we want to be as anonymous as possible to have freedom. I'm into all this BTC stuff because I feel that with this I can have financial freedom, and that's why I don't want any government charging me any taxes, neither for owning it nor for applying DCA with BTC nor for playing in the casino. That's something I'm not willing to pay or do KYC for.

[Satofan44]

If it is mandated by a government, then the platform is putting itself and its users into jeopardy but it has no choice.

Yeah, that is the bigger part of the equation. There is no choice left for big enough casino regarding KYC. Sooner or later if any anonymous casino gets big enough, it will be targeted by the feds.

There are two parts of the equation here, on the one hand one can not blame legitimate casinos for requiring KYC when this is imposed on by the government. The actual complaints against KYC should be done towards the governments, or by choice -- which would be something like playing in decentralized casinos or similar where there is no KYC. Most people however are so desperate, greedy, and idiotic that they would not do this over a $5 bonus that can be found on a KYC'd casino. On the other side you have the people. Any person that is not against KYC is an idiot, and instead of mindlessly discussing here with misinformation and random bullshit they should re-evaluate their own life. If you do not value your KYC data, then you do not value your own life -- in a case like that, a person is declaring that they are not even worth $200. How stupid, brainwashed or whatever other cause it, does one need to be to have that stance about themselves?

If it is self-imposed, then the owners are possibly malicious.

IMO, if a casino has no valid license and operation anonymously, it has no right to ask for KYC. If that is required for preventing/limiting abuse, make other measures.

That is why I said possibly, or well we could even upgrade it to likely malicious. Users need to understand the regulations in order to be able to tell the differences where being asked for KYC makes sense and where not, but many people do not have the education nor the interest in order to know the difference.