Quote from: Dragonbite on Today at 10:49:52 AM

Quote from: erep on September 28, 2022, 09:46:55 PM

Quote from: logfiles on September 28, 2022, 09:23:24 PM

from where I come from, even if I won $1M from an online casino and let say i managed to withdraw and passed the KYC, the state wouldn't even be able to know that I won that much let alone tax it Grin

So again, what was the point of me passing the KYC again? From the state's side, nothing!
From the casino's side, maybe there's a reason... multi accounting, playing from restricted jurisdictions etc.

That the KYC function is only for gambling platform internal factors and even though we have more gambling accounts on different platforms, each account is required to complete KYC verification. So the KYC function is not even related to different platforms let alone countries, if for example the platform deducts tax fees from jackpot winnings but maybe there is no tax report to that country, so they just deduct the jackpot winnings for tax reasons.

It is believed that KYC is needed in order to prevent fraud. After all, a person who has passed KYC will not cheat. On the other hand, KYC can also be fraudulent if a person wants to specifically and professionally cheat a casino or an exchange.

Yeah, This is dangerous for those user that selling there verified gambling account in the market. I saw many users before that selling this kind of accounts and most probably it was hacked account. Worst scenario was your KYC account got hacked and used to cheat in the casino while you have the ID for the casino to trace and sue you for the violations that scammer did. This is what I’m avoiding too on submitting my KYC on casino.