Is the end of no-KYC casinos inevitable as governments chase gambling revenue?

[avp2306]

Probably, but it will be underground, illegal. That also happens with sports betting or card games. You can gamble on the underground scene, but it is much more unsafe, you are more likely to be scammed, and even your physical integrity is at risk.

What is clear is that the trend is for cryptocurrency casinos to end up like online fiat casinos, which require KYC to register. Will there always be alternatives to that? Yes, but there will be few, and they will not be very secure.

Correct.

This is the only way to move forward since cryptocurrencies monetary value was already acknowledged and regulated by the government. There’s no way crypto market will be unregulated.

Crypto casino was already developed and far more safer that the old casino era data protection is a big issue. I have high confidence on verifying my account rather than try those illegal operation casino that anytime will be close without any trace.

This is the reality and regulation of those crypto casinos will became inevitable in future. But for sure there's still several crypto casinos will offer such no KYC service, but the question is do they want to take a risk on unregulated also not reputable casino for the sake of privacy?

Well this is the question need to consider and the risk for scams is high to on platforms which will not comply rules what government want to implement. If they are reputable casinos will yes I also have high confidence to verify my casino account, but for those unknown casinos and come to ask KYC immediately maybe I will doubt first and wait for them to gain great reputation in the community.

[knuckey]

"I'll take a look at the exchanges that are now controlled by the ""government."" They're actually not as easy as they used to be. Remember how crypto was in 2017 and earlier? Many markets even provided their services without users having to undergo KYC. This made things easier. But as time went on, KYC continued to exist. In fact, many markets have disappeared. I'm sure even gambling is the same. If it were under government control, the gambling space would be much smaller than before."

[Findingnemo]

"I'll take a look at the exchanges that are now controlled by the ""government."" They're actually not as easy as they used to be. Remember how crypto was in 2017 and earlier? Many markets even provided their services without users having to undergo KYC. This made things easier. But as time went on, KYC continued to exist. In fact, many markets have disappeared. I'm sure even gambling is the same. If it were under government control, the gambling space would be much smaller than before."

Under the control is a it exaggeration, I am sure the exchanges manage everything but the government wants to peek at everything like the user database, their ID, their transaction history and everything that can give them an idea of our finances. ANd the same reason why casinos also targeted by the government, they don't care about scams or rip off they just want to take a portion from the people.

Back in 2017 the crypto was popular but not big as of now, we came a long way since 2017 and that is why government is enforcing everything to take the privacy away.

[Johnlomape]

"I'll take a look at the exchanges that are now controlled by the ""government."" They're actually not as easy as they used to be. Remember how crypto was in 2017 and earlier? Many markets even provided their services without users having to undergo KYC. This made things easier. But as time went on, KYC continued to exist. In fact, many markets have disappeared. I'm sure even gambling is the same. If it were under government control, the gambling space would be much smaller than before."

With the government trying to control everything we do, that does not mean that there will be no non KYC casinos again but they might be fewer than what we supposed to be seeing as gamblers. The government is clamping down on the useful casinos because of their KYC policies, enforcing strict laws on casinos to make sure that their users are paying taxes which is what they care about not the safety of the players when gambling in their favourite casinos. This won't change at any moment and we are left to make a choice.

[Insanity]

Probably, but it will be underground, illegal. That also happens with sports betting or card games. You can gamble on the underground scene, but it is much more unsafe, you are more likely to be scammed, and even your physical integrity is at risk.

What is clear is that the trend is for cryptocurrency casinos to end up like online fiat casinos, which require KYC to register. Will there always be alternatives to that? Yes, but there will be few, and they will not be very secure.

Correct.

This is the only way to move forward since cryptocurrencies monetary value was already acknowledged and regulated by the government. There’s no way crypto market will be unregulated.

Crypto casino was already developed and far more safer that the old casino era data protection is a big issue. I have high confidence on verifying my account rather than try those illegal operation casino that anytime will be close without any trace.

This is the reality and regulation of those crypto casinos will became inevitable in future. But for sure there's still several crypto casinos will offer such no KYC service, but the question is do they want to take a risk on unregulated also not reputable casino for the sake of privacy?

Well this is the question need to consider and the risk for scams is high to on platforms which will not comply rules what government want to implement. If they are reputable casinos will yes I also have high confidence to verify my casino account, but for those unknown casinos and come to ask KYC immediately maybe I will doubt first and wait for them to gain great reputation in the community.

It's likely that the future of crypto casinos will see even more regulation. Particularly as governments attempt to gain tighter control over gambling and cryptocurrency transactions. Platforms that do not implement KYC are likely. To be subjected to greater challenges and regulation. Many players appreciate privacy. But security is also a key consideration. A trusted casino with a proven history provides me with greater confidence than an unregulated casino that I am not familiar with. KYC isn't foolproof and has privacy issues, but it can also offer accountability. Overall, the challenge of balancing privacy, trust and security will continue to be the largest.

[Cointxz]

It's likely that the future of crypto casinos will see even more regulation. Particularly as governments attempt to gain tighter control over gambling and cryptocurrency transactions. Platforms that do not implement KYC are likely. To be subjected to greater challenges and regulation. Many players appreciate privacy. But security is also a key consideration. A trusted casino with a proven history provides me with greater confidence than an unregulated casino that I am not familiar with. KYC isn't foolproof and has privacy issues, but it can also offer accountability. Overall, the challenge of balancing privacy, trust and security will continue to be the largest.

Yeah right, reputable casino that already established their brand and generate consistent profit will surely comply to the regulations in able for their business run smoothly.

We are already on the era that crypto was already regulated unlike before that crypto value is still not acknowledged so most services including exchanges and casino is not regulated.

[Agbe]

Casino and gambling business is a serious revenue generating for casino owners so they are coming in every year. No KYC policy or feature in casino is a new thing in casino and it has not been fully implemented in the gambling industry for every casino company to use but it was only very little interested individual who own casino or gambling companies introduced it to the system but the way things are going No KYC casinos can't survive in the system.

[Dunamisx]

Government are trying every means to make sure that all the gambling casinos are being regulated by them, but they cannot achieve this completely because there are still many platforms that operate without being regulated by their authorities, that is where we still have no kyc casino till today, the two option we continue to exist as long as gambling remains and we have an alternative to choose between which one we want.

[JiiBs]

No KYC as I believe it only works for a time. Once the casino becomes way too popular and the government takes not of it, they are always going to go about it by means of regulations and to ensure they get revenue off it as well.

In essence, there would always be No KYC casinos but, these casinos would only have limited time to remain a No KYC casino. Once they become large enough, you can be rest assured the jurisdiction in which they are operating, the government of the day would seek them out.

[Johnlomape]

No KYC as I believe it only works for a time. Once the casino becomes way too popular and the government takes not of it, they are always going to go about it by means of regulations and to ensure they get revenue off it as well.

In essence, there would always be No KYC casinos but, these casinos would only have limited time to remain a No KYC casino. Once they become large enough, you can be rest assured the jurisdiction in which they are operating, the government of the day would seek them out.

The government will not stop to chase gambling revenue and I can assume that it was one of the reasons why they allowed casinos and prediction platforms to continue to operate. There is huge revenue from the gambling section and government is looking for every means possible not to allow and revenue source to elapse.
KYC casinos are the ones that are getting huge number of players because the government will not stop to support their operations since they are getting revenue from them.

[Quibble787]

Pure no-KYC might not be the realistic end goal, but transparent conditional KYC could be. A casino that's upfront from the start about withdrawal thresholds, AML checks, and when verification kicks in is something most players can work with. What actually drives frustration is hitting an unexpected identity check after a winning session, when the money is already sitting there waiting to go out. If Chipsy wants to build lasting trust rather than just early signups, being explicit about those conditions before anyone deposits is the thing that will actually matter.

[Insanity]

No KYC as I believe it only works for a time. Once the casino becomes way too popular and the government takes not of it, they are always going to go about it by means of regulations and to ensure they get revenue off it as well.

In essence, there would always be No KYC casinos but, these casinos would only have limited time to remain a No KYC casino. Once they become large enough, you can be rest assured the jurisdiction in which they are operating, the government of the day would seek them out.

The government will not stop to chase gambling revenue and I can assume that it was one of the reasons why they allowed casinos and prediction platforms to continue to operate. There is huge revenue from the gambling section and government is looking for every means possible not to allow and revenue source to elapse.
KYC casinos are the ones that are getting huge number of players because the government will not stop to support their operations since they are getting revenue from them.

I would agree, so long as there is a lot of money being made in the taxing of the gambling industry, there will be a push from the governments to increase the regulations. But I believe no-KYC casinos will not be eradicated. Crypto users who are interested in privacy, speedier trades. And restrictions remain powerful. Rather, one would expect that more and more successful no-KYC casinos will eventually implement either some form of verification or risk-based verification as they develop and become subject to regulatory scrutiny. Although there will be fewer no-KYC sites, I think privacy casinos will still remain and cater to a small group of the gambling industry.

[xenomorfo]

Pure no-KYC might not be the realistic end goal, but transparent conditional KYC could be. A casino that's upfront from the start about withdrawal thresholds, AML checks, and when verification kicks in is something most players can work with. What actually drives frustration is hitting an unexpected identity check after a winning session, when the money is already sitting there waiting to go out. If Chipsy wants to build lasting trust rather than just early signups, being explicit about those conditions before anyone deposits is the thing that will actually matter.

It could be, let's say a soft KYC as it's called.
The problem is that nobody, or almost nobody, is sincere, they promise no KYC until you win and then afterwards they look for your documents, this is quite incorrect in my opinion and should absolutely not be encouraged as a behavior.

[shawonngp]

"I'll take a look at the exchanges that are now controlled by the ""government."" They're actually not as easy as they used to be. Remember how crypto was in 2017 and earlier? Many markets even provided their services without users having to undergo KYC. This made things easier. But as time went on, KYC continued to exist. In fact, many markets have disappeared. I'm sure even gambling is the same. If it were under government control, the gambling space would be much smaller than before."

Right, in 2017, we often used all-crypto exchanges without KYC, including many top crypto exchanges that offered their services without KYC verification. But gradually, due to government regulation, 98% of exchanges are forced to implement KYC, since the government is losing a large amount of tax revenue from the casino and wants to control it completely. I agree with you, as people are still very concerned about their privacy, so they consider KYC a threat. So I think that if KYC becomes mandatory across most casino sites, many casino platforms will not be able to survive in the long run.

[KiaKia]

It will reach every online casinos, you want to make money from gamblers? You need the crowd and the crowd comes with a cost, and that cost is awareness, you can't hide forever.

There been a lot of examples already, many online casinos started as non-KYC platforms and later they are forced to get regulated and start asking their customers for KYC, I still don't understand why some people don't get this yet.

It is inevitable, so if you are using a non-KYC casino right now, know that your days are shrinking, you will be outnumbered sooner or later and don't let it shock you, KYC is compulsory for online casinos.

[Satofan44]

With more countries now openly treating gambling as a serious source of revenue, I think we can already see where this is heading, like sooner or later, no-KYC casinos might disappear, and full KYC will just be something players have no choice but to comply with. (sad).

We’ve seen this pattern before with Bitcoin during the early stage, back when it wasn’t popular, governments mostly ignored it. No clear rules, no strong enforcement, everyone was free to experiment, buts sad part is once adoption grew and the money became too big to ignore, regulation followed.

Now we’re seeing similar reports with gambling which some countries are showing rising gambling revenues, and that’s usually a signal for governments to step in harder. More money coming in means more attention, and more attention almost always means stricter regulation, not less.

So the question is, as the gambling industry continues to grow and become more “legitimate” in the eyes of governments, is this actually good for us as players? Or does it just mean less privacy, more restrictions, and fewer options like no-KYC casinos?

How has this worked out in practice when most people who are using the internet are idiots? Most users are still using custodial platforms where KYC is enforced. When they are not doing that and are using some tools, they often end up being scammed whether by fake exchanges, fake tokens, fake services and so forth. So in the end what do we get? You trade away one evil and risk for another evil and another kind of risk. The truth is that many people are not educated enough to be able to approach these things the proper way, and as such it will not work out so great.

If gambling platforms can be easily run as no-KYC platforms, then it is even easier to run them anonymously and do more exit scams. Since people are known to make stupid decisions such as join obscure or shady casinos over a $5 promotion, I am sure it will work out just fine. 

[Peterfun888]

With more countries now openly treating gambling as a serious source of revenue, I think we can already see where this is heading, like sooner or later, no-KYC casinos might disappear, and full KYC will just be something players have no choice but to comply with. (sad).
How has this worked out in practice when most people who are using the internet are idiots? Most users are still using custodial platforms where KYC is enforced. When they are not doing that and are using some tools, they often end up being scammed whether by fake exchanges, fake tokens, fake services and so forth. So in the end what do we get? You trade away one evil and risk for another evil and another kind of risk. The truth is that many people are not educated enough to be able to approach these things the proper way, and as such it will not work out so great.

If gambling platforms can be easily run as no-KYC platforms, then it is even easier to run them anonymously and do more exit scams. Since people are known to make stupid decisions such as join obscure or shady casinos over a $5 promotion, I am sure it will work out just fine. 

Personally, I don't think the debate should be "KYC vs. No-KYC." The real issue is the transparency of the operator. Whether a platform mandates KYC or stays anonymous, if they have no reputation to lose, they are a ticking time bombs.

[Dunamisx]

Many gambling casinos do not require for kyc and are doing well, privacy is not what we should suffer to get as long as we desire having it, it is also necessary for us to know that government will not give us this opportunity to have privacy except we take it at our own wish, they cannot as well achieve having all the casinos being regulated because some are operating out of government regulations.

[Hatchy]

Notably, this rise also points to greater levels of activity in the gaming industry, as well as an improvement in the level of compliance and collection. It is also indicated that gaming operators are making progressively bigger contributions to the revenue pool.

We already lost all non kyc casinos for long and even those that claims to offer no kyc features eventually have some hidden rules that when broken by players would require them to activate and request players to undergo the kyc stages. Indeed the gambling market is become very large compared to what we had today and with online casino making it easier for companies to reach potential players, alot of revenue are being generated annually. This should be enough reason for the government of any country to want to regulate it and we know what happens when they decide that. The government only wants their own benefits from regulation. Not necessarily do their care about the citizens welfare..