One fairly common complain among gamblers is they are allowed to make a deposit at casinos and lose their money without any issue, but if they happen to win and they want to make a withdrawal then they are hit with a KYC request almost immediately, Tonybet a fiat Estonian casino was fined more than 400,000 pounds for this practice and it seems the regulators are now interested in making reforms to the laws and force casinos to also make checks on those gamblers which have lost a lot of money.
If those new regulations are passed they will affect not only fiat casinos but cryptocurrency casinos will have to eventually follow them as well, do you agree with this idea? Would you like to see casinos to be fined more often for the practice of only asking for personal information from winning gamblers or do you think this will have a harmful effect on their finances?
Source:
https://www.theguardian.com/society/2023/jan/18/tonybet-fined-regulator-online-betting-id-checks-termsI'm not sure if the casino included that in their TOS, because if not, they'll definitely going to be sued for such a tricky way of dealing with KYC.
Though it should never be like that in the first place. If they want to implement a KYC with their online casino, they should require it for their clients before they make a deposit. Or option B, they could at least set a range of how much the client should spend on betting or holding in his account before it triggers the KYC compliance.
Casinos like this did it on purpose, of course with their own gain, as some clients may not bother to comply with KYC, especially with low winning amounts.