Ninjastic
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Board Gambling discussion
Re: KYC and the $5 hammer
by
virasog
on 22/07/2019, 18:15:19 UTC
Quote from: Spaffin on July 19, 2019, 05:15:09 PM
Quote from: virasog on July 19, 2019, 05:56:58 AM
Quote from: custard_pudding on July 17, 2019, 11:15:03 PM
A theme  topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

The KYC should be implemented or should not be implemented. There should not be a case where you won big amount and the site start demand for kyc to withdraw a big amount. Such types of kyc are made mandatory just to avoid withdrawing the big amount of money out of casino.
In most cases, even trade exchanges place conditions on users to provide passport data in the first place precisely when the user wants to withdraw a sufficiently large amount of funds.  Gambling books should be guided in the same way, because not all gamblers deal with big wins.

That's what I am saying that the rules of kyc should be uniform and should not vary with the withdrawal amounts.  If a sportbook or gambling site want to implement kyc they should implement it right at the time of making an account on that site and not at the time of withdrawal.