The important of KYC in casino’s.

[Questat]

I doubt that KYC requirements always pops up upon a gambler login into his or her account every time, because it is done once upon registration and for some advanced gambling platforms, they may require KYC in stages as you keep being a consistent member and active user of their platform.

But his statement that KYC isn’t meant to stop anything is a wrong assumption. KYC has several purposes, and one of the main ones is preventing minors from gambling.

If a minor is able to gamble, that already means the casino isn’t properly implementing KYC. And if KYC isn’t enforced, then obviously nothing is stopping minors from betting. That’s really my point here.

[m2017]

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.

Those who want to launder money can do so without a casino. I think this "horror story" is overstated and used to push KYC (just like the stories about "criminals using bitcoin").

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.

This is the same as banning the sale of alcohol and tobacco products to minors. Despite all the prohibitions, teenagers somehow manage to try them without any problems. So, NO, your argument is again very weak.

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.

And that's the funniest thing you wrote in this post.

In my opinion, it's just the opposite: if a casino doesn't store users' personal data obtained through KYC, then it's impossible to leak or steal data.

This is how logic should work.

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.

Enable 2-factor authentication using an app (not SMS) and no one but you will be able to access your account.

You don't need a KYC at all here.


Basically, your arguments haven't convinced me. Try again.

[GreatArkansas]

I am never against KYC because if there is a KYC system, there is very little chance of fraud. Many people may find submitting KYC documents a hassle but if I am asked for KYC in any case, I do not think I know anything and I submit it in a moment. Moreover, if there is a KYC system on a gambling platform, then young children cannot participate in that case, in my opinion, it should be strict in this regard because every casino platform should take strict decisions so that young children cannot participate in gambling. For this, if KYC can be made more strict, then it should be made stricter.

It seems some people are afraid of these KYC things in casinos are because they are afraid of some leaks, for example the casino you submitted your personal data will get hack or they intend to leak your personal data, then that is really disappointing. So that's why most people who into cryptocurrency will against on this.

[X-ray]

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 delayed KYC seems only occuring in the non licensed casino. Meanwhile licensed casino that follows regulation always put KYC upfront. If users are unable to complete the KYC, and verify themselves. They will unable to deposit the money to their account, and some features may not available for them. So what you talked about mostly happen in the non licensed casino.

[TheUltraElite]

KYC helps track the person who is making money in gambling so that the government can eventually track and tax them or call them for the source of funds. It helps the casino stay protected from scammers who might try to exploit the casino and break their bank
 There are some people who are always trying to enforce this.

We being a pro privacy forum, dont see this as a good thing to do but casinos have to protect themselves and this is the only way they can for now till better options comes into view.

[Miles2006]

If casinos wanted to defend their motive obviously the listed examples will be included why KYC is needed meanwhile what happens with customers? Firstly both party must be safe, an underage child still create other means to bypass the normal method probably use some other documents either relatives or parents, while money laundering can be considered a valid reason but the KYC system is not guarantee in terms of protecting your private information, not quite long I came across an issue on X concerning KYC disclose to other site unknown to the user and in this situation the casino is to be blamed for not keeping such document private definitely this is the common reason why people don’t choose the option.

[AbuBhakar]

It seems some people are afraid of these KYC things in casinos are because they are afraid of some leaks, for example the casino you submitted your personal data will get hack or they intend to leak your personal data, then that is really disappointing. So that's why most people who into cryptocurrency will against on this.

No one really wants their personal details to be leaked. That's why gambling websites should be doubly careful about how they secure them so that users can be protected. Their job is to protect it from possible threats like hacking. They are the ones who asked for it, so they should return the trust that users have given them and make sure it is more secure .

KYC helps track the person who is making money in gambling so that the government can eventually track and tax them or call them for the source of funds. It helps the casino stay protected from scammers who might try to exploit the casino and break their bank
 There are some people who are always trying to enforce this.

This is 100% true; this is really about the taxes that the government can collect for those who win, especially if the gambling website is licensed. You are really obligated to pay taxes, especially if you win a lot. That is the reason why they want it to exist.

[Ziskinberg]

No one really wants their personal details to be leaked, that's why gambling websites should be double careful about how they secure it so that users can be protected. Their job is to protect it from possible threats like hacking. They are the ones who asked for it, so they should return the trust that users have given them and make sure it is more secure.

It’s a must, since that’s part of their responsibility. A proper regulator should make sure of that before even granting a casino a license. They should already have audited how the casino handles client documents and personal information as part of the KYC requirement, because that risk is actually bigger than just losing money.

No one wants their private documents ending up on the dark web and being sold to criminals. So I understand why gamblers have doubts, but that’s simply how the crypto gambling industry is being regulated now. In the end, it comes down to a choice. Either we comply with it, stop gambling altogether, or choose unlicensed casinos and accept the risk of possibly getting scammed.

[fruktik]

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.

There are still casinos that don't require identity verification. I try to choose casinos that don't require it. Why? This data could be leaked online, and then trouble is sure to follow. No one can guarantee 100% security. Anything man-made can be just as easily hacked. There's no escaping that. You should think twice about it. I've personally witnessed how many times a multi-million-dollar database ends up in the public domain. Hackers have already used it for their own purposes and made this personal data publicly available.

[Fivestar4everMVP]

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.

Well, very good and important benefits of casinos asking kyc from gamblers and I agree with all of them, I personally have never been  against casinos asking kyc because I totally understands it's benefits and importance..

But that number 2 point isn't very much effective in our today's world because there are several times, not twice nor thrice but many times I've come across underaged persons gambling in a supposed kyc enabled casino, and I try to find out how they managed to register and pass kyc verification, then I discovered that some of them usually use the document of their grown up relative who isn't a gambler to verify the account, I don't know how they manage to pass the live video kyc verification or maybe this casinos don't ask this anymore, casinos need to take this aspect of their kyc procedures more serious to prevent underaged from using other family members documents for account verification.

[Kelward]

I don't like to share my personal details on any sites but I don't have a choice if I need to use such sites and they require KYC at registration or at some point. If I'm willing to submit KYC requirements to a centralized exchange I should do the same for a gambling site, what I concern myself is reputation, if I consider a gambling site to be reputable I wouldn't mind submitting my KYC details if it is required. I want to believe that gambling sites don't care about your KYC the reasons that they require it is because of money laundering, underaged gambling and government regulations, they don't want to have issues with any government.

[Tmoonz]

I don't like to share my personal details on any sites but I don't have a choice if I need to use such sites and they require KYC at registration or at some point. If I'm willing to submit KYC requirements to a centralized exchange I should do the same for a gambling site, what I concern myself is reputation, if I consider a gambling site to be reputable I wouldn't mind submitting my KYC details if it is required. I want to believe that gambling sites don't care about your KYC the reasons that they require it is because of money laundering, underaged gambling and government regulations, they don't want to have issues with any government.

Most of time people prefer sharing their personal details off line than online simply because of the belief system of high rate of scam that is online, I understand your sentiment and that is what most of us have too, but however it is still reasonable that we show concerns about sites we are giving out our details to before hands regardsless of the fact that we want to make use of them not all sites still worth given our personal details. For a reputable site give out the details of their customers for a bad reason will bring bad reputation to them if find out of course nothing can be hidden for ever, let's just pray that such bad days never comes.

[Charles-Tim]

But that number 2 point isn't very much effective in our today's world because there are several times, not twice nor thrice but many times I've come across underaged persons gambling in a supposed kyc enabled casino, and I try to find out how they managed to register and pass kyc verification, then I discovered that some of them usually use the document of their grown up relative who isn't a gambler to verify the account, I don't know how they manage to pass the live video kyc verification or maybe this casinos don't ask this anymore, casinos need to take this aspect of their kyc procedures more serious to prevent underaged from using other family members documents for account verification.

Not all gambling sites will let their new users to go through facial verification, some gambling sites will only request for just documents. But as centralized platforms have been seeing that under 18 are still successfully getting verified while some people are also buying verified accounts, they have been making the facial verification compulsory. But some will not request for it if they do not see anything suspecting. A gambling site that make KYC compulsory should also make sure their customers do facial recognition verification.

[lovesmayfamilis]

Yes, I agree that KYC is required at some casinos, but we need to be very selective about where we choose to leave our data. Many new casinos are opening these days, sometimes with favorable terms, but the fact that they're new and haven't yet achieved popularity makes me doubt whether I should trust them with my data. Speaking of the security of these documents, don't we all see stories of organizations being hacked and then the hackers selling the data to anyone? Take, for example, the recent Instagram hack.  https://x.com/Malwarebytes/status/2009664994070184282

[Odusko]

But that number 2 point isn't very much effective in our today's world because there are several times, not twice nor thrice but many times I've come across underaged persons gambling in a supposed kyc enabled casino, and I try to find out how they managed to register and pass kyc verification, then I discovered that some of them usually use the document of their grown up relative who isn't a gambler to verify the account, I don't know how they manage to pass the live video kyc verification or maybe this casinos don't ask this anymore, casinos need to take this aspect of their kyc procedures more serious to prevent underaged from using other family members documents for account verification.

Not all gambling sites will let their new users to go through facial verification, some gambling sites will only request for just documents. But as centralized platforms have been seeing that under 18 are still successfully getting verified while some people are also buying verified accounts, they have been making the facial verification compulsory. But some will not request for it if they do not see anything suspecting. A gambling site that make KYC compulsory should also make sure their customers do facial recognition verification.

There will always be a break in-between that allows for abuse such as infectiveness of KYC demand on Centralised casino one thing we should be aware of is that, if one gets verified through third party documents, when such time comes that the casino requires additional verification such as facials verification the you risk losing the account., so one just need to either avoid KYC casino or be willing to hand over the right document to them for verification if you trust the crypto casino you are using.

[nimogsm]

I don't like to share my personal details on any sites but I don't have a choice if I need to use such sites and they require KYC at registration or at some point. If I'm willing to submit KYC requirements to a centralized exchange I should do the same for a gambling site, what I concern myself is reputation, if I consider a gambling site to be reputable I wouldn't mind submitting my KYC details if it is required. I want to believe that gambling sites don't care about your KYC the reasons that they require it is because of money laundering, underaged gambling and government regulations, they don't want to have issues with any government.

I have the same policy regarding websites. If I use them for a long time and trust them, then I will undergo full verification. For the sake of using the service for a few days, I will not undergo verification, as I consider it inappropriate. There are people who think that undergoing verification anywhere is normal and, without thinking, give their documents to dubious services and then are surprised when they find their full personal details on the internet.

[davis196]

. 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 usually think about KYC from this perspective, although you do have a point. Casino accounts getting hacked isn't such a common thing because most casino accounts don't have crypto in them. What if the casino account is KYC verified and has crypto in it, but some hacker manages to gain access over that particular account? Do you think that the casino is going to stop him from withdrawing the funds?
I do agree that KYC isn't completely useless, but I also believe that most big money launderers wouldn't launder their money by using a casino.

[iv4n]

The truth is KYC is very important casinos as it helps stop a lot of illegal activity.

KYC is very important for casinos, that part is right. It's what keeps them safe... I guess we can discuss how reliable this method is, and in my opinion, not so much. B

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 thought I saw it all, but here it is... Did you try to enable 2fa? There are other ways to protect yourself.

I think that the bottom line is simple: KYC is important for casinos, but it offers little or no benefit to players.

[joeperry]

Personally, KYC is really not a bad thing, just like what you've stated all those were true and through KYC that's the only way you can clear someone if suspects that they are from other jurisdiction or if they are really the person that is using the account to gamble. However, there's a lot of gambling sites that exist here in the forum where gambling sites uses KYC to delay the withdrawal of the player or probably freeze their account, some of them even though a player submitted a legal and valid identification, rejects the withdrawal because they claim that the person breach their terms and condition. That's why it's important that before playing into the gambling site, expect that you'll be submitting it anytime in the future, so choose the one that can be trusted and been here for a long time.

It's for the protection of the casino itself and the player, that's why it's important.

[Yaunfitda]

I'm not really sure if the OP is a old school gambler or what, but for those who have been playing for years, maybe before 2016 or 2017, there's no such thing as KYC and we can freely play with just a address for deposit and withdrawal and that's it. But I guess as crypto moves on and evolved and then government and regulators comes in, everything has change. Yes, I will agree that it's not bad to ask for KYC, but then again, there could be gamblers who wanted to remain private and doesn't want their information to be submitted as there are possibilities that it could be leaked and that is a dangerous thing not just for gamblers per se but for anyone's identify to go online.