Does NO KYC Online Gambling Need Licensing?

[yahoo62278]

Some people are going to be more apt to give a site a look if they know the casino is licensed and has to answer to regulators/mediators amid any scam accusations, but then you got others that will avoid you like the plague if they have to complete a lengthy kyc process. You're not going to please everyone regardless but I would feel safer if a site has a verifiable license.

[knuckey]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

Without a license, your casino will simply exist on the black market, and few people will trust an unlicensed casino.
Whether KYC or no KYC is implemented, an official license is mandatory. This is a solid foundation for building trust in the casino. Many casinos claim no KYC, but that's just nonsense. So, why implement no KYC, and what's the main purpose of implementing it?

[tread93]

Out of my curiosity, does NO KYC online gambling site really require license?

I can not use a gambling site that does not have a license and neither can I recommend such a gambling site.

It is easy for scammers to try to scam people using a gambling site that is not having license. A good gambling site should get a license and not think about how expensive it is. Also they should market the gambling site.

No licence and and marketing means possible scam.

I mean let’s face it, you can have a business license and really good marketing and this company could still be scamming people. In fact I’m sure there are plenty of examples that meet this criteria and I’m sure that it shows. You can do all that but it really comes down to the reputation. Most people will say something if they get scammed on a forum to help prevent others from being scammed. Any serious casino should have a license.

[alegotardo]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

Yes, its good obtain a license because even if you do not require KYC, the license is mandatory to comply with regulatory requirements in many countries, even in those that are more flexible with it.

Another reason for you to consider to get a license is the credibility.... many users will simply ignore your site if you do not present an valid license, because this is the minimum that a respectable site needs to have. An license indicates that someone has checked your site and is ensuring that you at least comply with minimum security and user protection requirements.

The “problem” to when trying to obtain a license... the main criterion for regulators will be: controlling money laundering, and then how are you going to do that without requiring KYC?

[yhiaali3]

As far as I know, online gambling sites that do not require identity verification (KYC) do not actually need a license, but as the other members mentioned, obtaining a license is very important for reputation; any casino that does not have a license will be suspect.

Most users prefer casinos that do not require KYC, but they will not deposit their money in an unlicensed casino. Therefore, if you intend to work seriously and confidently, it is best for you to obtain a suitable license even if you do not intend to use KYC.

[famososMuertos]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

This has to be a bot, or someone who has no idea what they're asking and just wants to have fun shooting arrows.

First of all, you're being redundant: globally worldwide.  / and /

Second, I think that if someone wants to do what you're suggesting, professional and experienced advice is the way to go.

On the other hand, the question for our forum or community would be: How do the regulatory terms of these licenses affect you in each of your countries, for example?

The license is legally binding; the non-KYC requirement can exist perfectly well under that license. In any case, it all depends on the jurisdictions where it applies.

[Don Pedro Dinero]

Without a license, your casino will simply exist on the black market, and few people will trust an unlicensed casino.

That’s right. I remember that a decade ago, unlicensed casinos without KYC checks were far more common. Many operated successfully for quite some time, but due to regulatory pressure they ended up purchasing a licence from a Caribbean country, and gradually the vast majority have been introducing KYC checks into their Terms of Service.

The fact is that, these days, an unlicensed casino operates on the black market, and it won’t be able to attract as many people as it did a decade ago. Perhaps, given enough time and by building up a reputation, it might manage to survive, but if almost all the casinos set up today obtain a licence from a Caribbean country, there must be a reason for it.

[Agathamay]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

I believe that, the moment a casino is been licensed, at some point, it might not be fully No KYC and it would always trigger KYC at some point.

I don't think a fully no KYC casino would be registered considering how greedy the government can be but aside that, using a casino without registration is always very risky because you might not know anyone to hold responsible if things go wrong and the players might just literally be at the mercy of the casino.

Gamblers on the other hand also make things very difficult for casinos with their demand as they want to operate on a strictly no KYC casino while still expecting them to be fully registered which makes things very difficult for them.

So answering op, provided the casino are genuine and sincere, they don't need licensing.

[Samlucky O]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

There is no legit business without license, so my answer is yes, they do need license to operate. The license gives them the authority to operate boldly without fear against government action. Although most casino operate without license but that is not a good thing Because such business appears to be an iligal business and government may decide to ban them anything since the operating without license.

[Olatundespo]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

Without a license, your casino will simply exist on the black market, and few people will trust an unlicensed casino.
Whether KYC or no KYC is implemented, an official license is mandatory. This is a solid foundation for building trust in the casino. Many casinos claim no KYC, but that's just nonsense. So, why implement no KYC, and what's the main purpose of implementing it?

KYC verified and licensed casinos are more acceptable to gamblers. Some gamblers say they want to keep their identity a secret, but in reality, if there is no KYC verification, those casino developers have an open window to cheat gamblers.

To build trust in casinos, getting approval from the relevant authorities is the first criterion for a developer to establish the credibility of his business. The next step is to advertise and clarify his position on AML issues.

Some gamblers prefer casinos without KYC verification, but it is risky to keep long-term trust in that casino. As getting a proper license to operate a casino business increases their credibility, gamblers are confident in depositing their funds and gambling in the long term.

[$crypto$]

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

License it is important that your casino operates under a regulator, people believe that it is legitimate not considered fraud.
To operate globally around the world is not possible if you have a license because there are some jurisdictions that are restricted, such as the US, and parts of the Middle East countries that are blacklisted due to licensing rules.

You can operate globally then this without a license, just like DEX which is not regulated by any regulator, but it is risky in the future suppose your casino becomes a place of money laundering by a group of people because this casino obviously does not have strict rules including AML.

[SPIDERMAN008]

When you want to lunch an online casino that have global interest at hand, you must consider a KYC casino reason is that, with license you can gain access and approval to operate in several countries, but f no KYC I mean unlicensed it then means that you are risking the long term interest if your casino because at whatever time, regulators can easily climb down on the site and seize it for illegal operations of casino, but with license you have reputation, liqudities and Volume to compete with other existing casinos.

I agree with you. KYC and licensing are not the same thing. License is the approval from the regulator to operate a business, while KYC is the user identity. And licensed casinos also have some advantages. In this case, these casino are maintain accountability .. But there are some negative aspects of kyc. In fact, no customer himself wants to give his information. In most cases, they want to hide their information. Now if they want to know their passport address or personal number along with financial information, then the customer will not want to give them. In this case, there is a possibility of losing the customer. Or in most cases, people avoid such casinos. Because in this modern time, no one wants to give any of their data to others.

[hedgeh0g]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

No casino user likes KYC. We have all already seen hacking services with the theft of this data and subsequent sale on the darknet. No one wants to discover their data in merged databases that are sold to those who want to hack something, and it is very dangerous for any crypto enthusiast to expose their data on the Internet, because our security is our money. And if passwords, emails, and so on merge, then hackers can correlate this with the data on the exchanges and try to crack it. Therefore, it is always highly undesirable for another service to request data about documents.

[_act_]

Hello,

Currently me and my team are working on a new online gambling that would be operating globally world-wide.
Out of my curiosity, does NO KYC online gambling site really require license?

No casino user likes KYC. We have all already seen hacking services with the theft of this data and subsequent sale on the darknet. No one wants to discover their data in merged databases that are sold to those who want to hack something, and it is very dangerous for any crypto enthusiast to expose their data on the Internet, because our security is our money. And if passwords, emails, and so on merge, then hackers can correlate this with the data on the exchanges and try to crack it. Therefore, it is always highly undesirable for another service to request data about documents.

This is not the question he asked. The question that he asked has been answered already on the page 1 of this thread. With the way he asked the question, he is working on a gambling site that will not require KYC, or at least will not require KYC up to certain amount of withdrawal or daily withdrawal, but he asked if the gambling site necessarily required license.

So the question is about licensing and not KYC.

[New Judgement]

That you are doing a no Kyc doesn’t mean you shouldn’t be licensed. You should get your licenses and get full registered. The gambler that will use your platform will need to see your license and registration certificates so they will have full confidence in your site. The no kyc is for your clients and not you as the company or casino owner.

[drangos]

When you want to lunch an online casino that have global interest at hand, you must consider a KYC casino reason is that, with license you can gain access and approval to operate in several countries, but f no KYC I mean unlicensed it then means that you are risking the long term interest if your casino because at whatever time, regulators can easily climb down on the site and seize it for illegal operations of casino, but with license you have reputation, liqudities and Volume to compete with other existing casinos.

I agree with you. KYC and licensing are not the same thing. License is the approval from the regulator to operate a business, while KYC is the user identity. And licensed casinos also have some advantages. In this case, these casino are maintain accountability .. But there are some negative aspects of kyc. In fact, no customer himself wants to give his information. In most cases, they want to hide their information. Now if they want to know their passport address or personal number along with financial information, then the customer will not want to give them. In this case, there is a possibility of losing the customer. Or in most cases, people avoid such casinos. Because in this modern time, no one wants to give any of their data to others.

That licensing needs to be distinguished from KYC. A license is a legal authority and responsibility that a Casino receives, KYC is primarily about the identification of customers and managing compliance risks. Depending on the casino's business model and regulator, it's possible for a no-KYC casino to be licensed in certain jurisdictions. But on the other hand, too much KYC can deter privacy oriented customers, particularly if they are asked for personal and financial data. Hence, the actual challenge is for a casino to determine a healthy balance between regulatory compliance, users privacy and long-term trust.

[danherbias07]

Well, if you want more customers to come in, you may need that.

Gamblers are not stupid people. They will not risk depositing their money on a gambling site that cannot even acquire a license for its business. Also, paying those requirements makes a gambler think that you have the money to pay in case they win the jackpot.
Look, most gambling sites today are adding more features to solidify their reputation. It's like you want to reduce some so that you can avoid spending money. If you don't get a license, good luck making it to the top 50 gambling sites.

[Zlantann]

No casino user likes KYC. We have all already seen hacking services with the theft of this data and subsequent sale on the darknet. No one wants to discover their data in merged databases that are sold to those who want to hack something, and it is very dangerous for any crypto enthusiast to expose their data on the Internet, because our security is our money. And if passwords, emails, and so on merge, then hackers can correlate this with the data on the exchanges and try to crack it. Therefore, it is always highly undesirable for another service to request data about documents.

But we prefer a licensed casino because it is assumed that they are safer or more reputable. These licences have not stopped casinos from engaging in some business malpractice; however, users still prefer licensed casinos. KYC and licensing are getting more interconnected these days. Licensing authorities and payment processing companies now mandate that casinos ask for KYC. It would be hard for a no-KYC casino to operate in the current situation. My answer to OP's question is that casino needs lisense to make them more acceptable.

[Agathamay]

That you are doing a no Kyc doesn’t mean you shouldn’t be licensed. You should get your licenses and get full registered. The gambler that will use your platform will need to see your license and registration certificates so they will have full confidence in your site. The no kyc is for your clients and not you as the company or casino owner.

you have great point but are you are aware that for a casino who wants to run a strictly no kyc platform, doing full registrations with casinos that will require kyc will on the long run make things very difficult for you because you will agree that, when doing this licenses, there are some documents that you might sign that would require you to submit the details of a player whenever it is needed and as a no kyc casino, how then do you intend to retrieve these document considering the fact that, you are running a strictly no kyc platform.

[Kelward]

All casinos need licenses because it adds legitimacy to their business. Many players including myself will be skeptical of any platform without a license because I will see them a scam waiting to happen. If not for any other thing, getting a license makes a casino look serious and professional.  Requesting for KYC or not does not replace this important aspect of the casino business since hat is not needed for the licensing.

Modern gamblers now see licencing of a casino as an important requirement before they gamble on the site, licencing legitimizes a casino and gives a level of assurance to the gamblers that they are staking their money in a safe and regulated site. A licenced casino would think twice before they scam you, they will know that they have to stick to the reputation and agreement of their licences which is a plus for gamblers who don't want to be scammed in any casinos. A licenced casino looks professional and serious as a business, I also agree that licencing doesn't have anything to do with them requiring KYC or not.