Quote from: wiss19 on Today at 06:34:50 PM

Quote from: FatFork on March 18, 2022, 09:10:41 AM

Quote from: Kakmakr on March 18, 2022, 07:19:51 AM

One of the oldest and most popular Crypto currency casinos, namely Freebitco.in are not licensed and they also do not require KYC details. What does that tell you about the "needs" of the "clients" in this industry?

Gambling licenses don't appear to offer much benefits other than to ensure that behind every platform is a legitimate company that has all the necessary legal rights and responsibilities.

Freebitco.in is in a completely different ballpark. They have a long history and reputation in the community, so the license does not mean anything in their case, unlike many new gambling platforms that have sprung up without being vetted by the Bitcoin community.

Having that sign of legitimacy in the form of a license is a benefit or an advantage because people won't doubt too much and they will play on that site. Every new site have that because that is one of their edge for them to get noticed by the player while most old gambling site don't have a license yet because I think regulation back on time are not heavy as today and even without a license, lots of people are still going to trust them due to their age.

One of the reason that I can think of on why freebitco doesn't have a license is because it was not a real gambling site but it is more on a faucet site where you can get free bitcoins. This is where the starters headed at and it will be a hassle if they are required to do a KYC only for this.

Operating without a gambling license also has its advantages. You don't have a license, so you don't have an umbrella body that has to act as a supervisor. Nobody obliges a casino to perform a KYC. Many players do not feel like a KYC, and an unlicensed casino is easy. As a player you don't have a commission that you can rely on, which is a big disadvantage. But the KYC is also something that has increased significantly in recent years. I have the impression that things used to be much easier and that casinos were not under strict supervision, which is the case now. And then the type of license doesn't even matter. Speaking of the KYC and licensing, the MGA is also a big joke. I know of stories of people having issues with sites, and all the MGA does is check to see if a casino follows the terms and conditions. No matter what it says, the MGA says it's not their responsibility and they are solely responsible for enforcing the site's rules.