The important of KYC in casino’s.

[Supreme Donvic]

Some people really don’t like casinos that ask for KYC, some of my friends when they see a new casino they usually love to try them out however when they discover they request for KYC during registration they will not use the casino. The truth is KYC is very important casinos as it helps stop a lot of illegal activity.
This are the importance of kYC in casinos.
1. Prevent money laundry.
A lot of people use casinos for money laundry however with KYC money laundry won’t be possible anymore. Those that do money laundry usually like casinos that don’t support KYC because if they do KYC in a casino and then start using it for money laundry they will easily get caught.

2. Prevent underage gambling.
I’m very sure a lot of us will not support are little children to be engage in gambling because they are still very small to handle it and so without a casino requesting for KYC during registration it won’t be possible to discover this children.

3. Stops identity theft:
With the help of KYC stolen identity are not used and people that are using the kYC are the real people and again accounts are not hacked or duplicated and with this the person using the casinos and the casinos it self are protected.

4. Protects players wins:
It help protect players wins, no one can claim your wins and even when someone login into your account they fine it very difficult to withdraw because it usually requires KYC.

[Davidvictorson]

KYC is for the casino and even if not initially requested during registration, if you stay long enough and win often, it will eventually be requested. They have it there in their TOS so nothing to be surprised about. And I dare say, it will be difficult to find any casino that is a noKYC and stick with them. In my estimation it is not to pick one over the other but to choose the lesser devil - whatever the lesser devil means to the player.

[leonair]

KYC is for the casino and even if not initially requested during registration, if you stay long enough and win often, it will eventually be requested. They have it there in their TOS so nothing to be surprised about. And I dare say, it will be difficult to find any casino that is a noKYC and stick with them. In my estimation it is not to pick one over the other but to choose the lesser devil - whatever the lesser devil means to the player.

Not all sites allow you to register and continue gambling and at some point you will be asked for KYC when you exceed your limit. Now there are some big sites in the market that are very trustworthy but demand KYC at the time of registration and do not allow you to gamble without KYC. And whether kyc is asked before or after, if. In the ToS, if the issue of KYC is mentioned, then you should start gambling by completing KYC so that you do not face any problem. Because kyc has now become a common issue, now almost all sites require kyc to gamble. So since it is becoming difficult to avoid it, it is better to complete it and continue gambling.

[|MINER|]

Even though on a large amount the point number one can be workfull but I have a huge doubt on the others three points success, because there is multipe article and news I have seen that under age people are doing gambling by doing KYC with the fake ID cards and even though I have listen somthing like that one person is doing gambling on the same platfrom from another person kyc varified casino account, that is mean here three and four number point are also weak.
But yes in case of the big fund winning they can ask you for KYC but here the beneficiary person will be only the casino.

[Patikno]

Well, casinos without KYC are indeed an option for those who don't want the hassle, or for those who want their privacy protected. However, casinos also want convenience for their users, but regulations may be a factor in requiring KYC, and KYC also has a good purpose, as the OP mentioned. I think some of these things are consequences that must be accepted, both for users and casinos, and each has its advantages and disadvantages. By the way, I recently came across an article stating that KYC requirements are also necessary in certain circumstances. I don't know if that is true or not, as I have never experienced it. Here is the reference I found : cryptonews.com

[Fortify]

Let's be real, you can only really hold the second point up as a benefit to KYC for the wider community, maybe the first one just a little bit. The last two are a bit misleading, because any time an identity is actually shared online and potentially stored by a third party, then that increases the chance of identity theft. No matter how high security a site claims to be or even third party vetting companies, they can sometimes be vulnerable and lose these highly sensitive documents in different ways. The last point is entirely misleading, because almost nobody is hitting these big wins and there is an infinitely small chance that anyone would clear out an account which has already be preauthorized, the last one is purely for the benefit of the casino in trying to reject claims or throw up obstacles most of the time.

[ryzaadit]

I don't know what's the meaning of No.4

Some casino, still alowed withdraw with just Level 2. It's just ID, meaning evenn you buy still can passed there is no further check... cause the further check will be on Level 3 or Level 4. But Level 2... some casino allowed the withdraw

No.3 some casino are not asking ID at the begining, these always depends on the casino.

No.1 you don't need ID, all you need is waggering to avoid money laundry. The money laudry check will be always the contact of Goverment or Authority by request to the casino. So, without a check from them.... casino will always open for deposit even is a stolen or money laundry money.

[FirmWars]

Yea, KYC is important to the casinos but not to the gambler as it puts the customer's personal information at risk. If some gamblers had their way to prevent themselves from not doing KYC on some casinos, they would not have done it but the situation they landed was a place where their money was already locked on that casino and unless they do a KYC, they can't access the money, that was what made them pass The KYC. The government compliance policies is what's making casinos also request for KYC and for the reasons you mentioned.

[_act_]

4. Protects players wins:
It help protect players wins, no one can claim your wins and even when someone login into your account they fine it very difficult to withdraw because it usually requires KYC.

There are many crypto gambling sites that have 2FA feature which can be used to addictional secure your account. Also some has passkey now which can also be used but I prefer to use 2FA.

If it is about money laundering, money laundering is still existing on fiat gambling sites that KYC are required. So I do not really consider this.

The only good point that you have is to prevent underage gambling.

[Findingnemo]

1. Prevent money laundry.

2. Prevent underage gambling.

3. Stops identity theft:

4. Protects players wins:

Money Laundering? It is not my problem, it is job of the government and the tax agency to oversee those things then why should I lose my privacy over something where I get nothing in return.

Underage gambling? It is not my problem either, what their parent or legal guardian is doing?

Identity theft? I guess with KYC the identity theft will be more possible.

Protect players and their wins? How?

[coin-investor]

Some people really don’t like casinos that ask for KYC, some of my friends when they see a new casino they usually love to try them out however when they discover they request for KYC during registration they will not use the casino.

There are many possible reasons: one is that they don't trust the casino with their information because it's a new casino, they have second thoughts that the casino's existence will be short-lived and eventually fold up second is he already had an account on the casino or one of his relative who lived on the same house already did a KYC and the system will trigger a double account if he undergoes a KYC procedure.
KYC is important if you are going to play with the casino, but you need to trust that the casino is reputable enough to protect your sensitive information.

[xbetz.io]

KYC itself isn’t the real issue. The real issue is when and how it’s enforced. Most players don’t get upset about KYC at registration. They get upset when KYC is introduced after significant wagering or a big win, often with unclear timelines and subjective reviews. In practice, KYC has become less about AML and more about risk management for the casino, especially against winning players. That doesn’t mean no-KYC casinos are safer either, they simply shift the risk elsewhere.

The real signal players should watch is consistency:
- Is KYC policy clear before play?
- Is it applied equally to winners and losers?
- Are withdrawals processed predictably over time?

KYC isn’t protection by default. Consistency is.

[Franctoshi]

KYC is for the casino and even if not initially requested during registration, if you stay long enough and win often, it will eventually be requested. They have it there in their TOS so nothing to be surprised about. And I dare say, it will be difficult to find any casino that is a noKYC and stick with them. In my estimation it is not to pick one over the other but to choose the lesser devil - whatever the lesser devil means to the player.

You're right there's this local casino that I used too without having to undergone kyc because I wasn't asked at the initial time of registration, but few days back I got a notification request about confirmation of my identity, so even though a casino pretends not to ask you for kyc on the process of registration, I think it a matter of times and your activity on that your account you definitely will get notified to present your kyc some day no matter how long that it takes and they mostly request for it when you would have no option because they must comply with the AML law in their country of registration.

[Sanitough]

4. Protects players wins:
It help protect players wins, no one can claim your wins and even when someone login into your account they fine it very difficult to withdraw because it usually requires KYC.

I agree with the first three, but this one I don’t fully agree with. It really depends on who’s regulating the casino.

If they got their license from a provider that lacks proper monitoring and doesn’t really do its job, then the player protection you’re talking about might not actually exist. It looks good on paper, but in reality, it may not be enforced at all. That’s why, especially with casinos that aren’t strict with KYC, I don’t really expect strong player protection. In most cases, it’s more of a checkbox than something you can rely on.

[stompix]

God, you're out of touch with reality!

1. Prevent money laundry.
A lot of people use casinos for money laundry however with KYC money laundry won’t be possible anymore. Those that do money laundry usually like casinos that don’t support KYC because if they do KYC in a casino and then start using it for money laundry they will easily get caught.

Yeah? How?
Do you think any crypto casino that sees deposits of $100k will first call the IRS or give that player a VIP level?
How is this KYC thing stopping money laundering, do you actually think any casino is instantly talking to all finacial inspections units all over the world?

3. Stops identity theft:
With the help of KYC stolen identity are not used and people that are using the kYC are the real people and again accounts are not hacked or duplicated and with this the person using the casinos and the casinos it self are protected.

Yeah, exactly the opposite.
It actually generates identity theft as people use stolen documents to pass KYC verifications!

4. Protects players wins:
It help protect players wins, no one can claim your wins and even when someone login into your account they fine it very difficult to withdraw because it usually requires KYC.

Lol, withdrawals require KYC? On which casino?
You haven't gambled even once in your life, have you?
I think it's impossible for someone who has been around casinos and had at least a few deposits and withdrawals to say this nonsense!
2FA is not KYC!

[blomen]

3. Stops identity theft:
With the help of KYC stolen identity are not used and people that are using the kYC are the real people and again accounts are not hacked or duplicated and with this the person using the casinos and the casinos it self are protected.

excuse me? are you seriously telling me that kyc prevents identity theft? i wouldn't be so surprised if the situation weren't exactly the opposite. kyc is a system that actually facilitates the theft of your identity information.

please read this topic by 1miau: https://bitcointalk.org/index.php?topic=5221497.0

kyc means leaving your identity information entirely at the mercy of the other party. one day, just because they feel like it, all your identity information could end up circulating on the internet. i'm not even mentioning the possibility of hacking incidents or our information being sold. kyc is not something to be praised. if you agree to do kyc, you must also accept this.

[Natalim]

This is what the government keeps telling us, but let’s be honest, the real goal is to collect money while keeping an eye on what we do online.

If we’re talking about fiat gambling, I can understand regulation and protection. But this is crypto. Gambling in crypto is supposed to be anonymous, and most of us already know the risks we’re taking. They don’t really need to “protect” us.

If someone wants full protection and regulation, then fiat casinos already exist for that. Crypto gambling is a choice, and people who choose it usually do so because they value privacy and freedom, not because they want more rules.

[Cyber_warrior]

2. Prevent underage gambling.
I’m very sure a lot of us will not support are little children to be engage in gambling because they are still very small to handle it and so without a casino requesting for KYC during registration it won’t be possible to discover this children.

KYC can reduce underage gambling, but I don’t think KYC can completely stop underage gambling. When underage children wants to make use of a casino and it requires KYC, most of them just look for elderly person, or they make use of their parents identity to complete KYC on gambling site, and they going to continue making use of the gambling site.

4. Protects players wins:
It help protect players wins, no one can claim your wins and even when someone login into your account they fine it very difficult to withdraw because it usually requires KYC.

I don’t completely agree with you. If you are making use of a gambling site it’s either you complete your KYC when you making ur first withdrawal or immediately you registering on a gambling site. If you have done that already and maybe your account gets hacked or someone has access to your account, they can easily withdraw your money because they won’t have to complete KYC again.

[Porfirii]

3. Stops identity theft:
With the help of KYC stolen identity are not used and people that are using the kYC are the real people and again accounts are not hacked or duplicated and with this the person using the casinos and the casinos it self are protected.

excuse me? are you seriously telling me that kyc prevents identity theft? i wouldn't be so surprised if the situation weren't exactly the opposite. kyc is a system that actually facilitates the theft of your identity information.

please read this topic by 1miau: https://bitcointalk.org/index.php?topic=5221497.0

kyc means leaving your identity information entirely at the mercy of the other party. one day, just because they feel like it, all your identity information could end up circulating on the internet. i'm not even mentioning the possibility of hacking incidents or our information being sold. kyc is not something to be praised. if you agree to do kyc, you must also accept this.

I totally agree with you, and thank you for posting the link to this great post by 1miau.

I can understand why some people think that KYC can be positive and, in a perfect world, it could be in most cases, but that's not the world we live in, and sharing your personal data with third parties, even if these parties are well-intentioned (which is saying a lot), data breaches and security breaches are the order of the day.

[Upgrade00]

1. Prevent money laundry.
2. Prevent underage gambling.
3. Stops identity theft:
4. Protects players wins:

KYC does not prevent laundering in anyway. I do not think this is even a problem that casinos face which requires a solution. They have a 1× turnover requirement which helps with any situation of laundering

Here I can agree. Underage gambling is a problem but the strict kyc required to protect against this will have more downsides than positives for the casino and users.

Without kyc there is no identity to steal.

The casino should build the software to protect wins. Kyc does not protect against that.