Post
Topic
Board Gambling discussion
Re: UK fines online casino for only asking KYC from winning gamblers
by
ethereumhunter
on 29/01/2023, 16:30:46 UTC
Why people are really that making it as a big issue about exposing off their identities which considering that we've been long time submitting our info into those services and other things dealing in real life?
It doesnt really make sense though, myself wont really be bothered on submitting info as long i would be seeing that it would be something you could really trust on.KYC is getting stricter and
becomes wider on which even crypto related services and platforms is no really exception into that which we should really gradually expecting the reality that we are dealing
of with.

It's because, for the majority of crypto-gamblers, crypto-gambling is not supposed to be that way. We can't blame these people as they are not really comfortable providing KYC that's why they consider gambling in crypto.

However, these people should at least accept the fact that crypto-casinos will eventually face full regulation as part of being a legal business.

I'm always vocal about accepting KYC-related terms and I'm fine at complying with KYC in crypto-gambling. But with the rise of new crypto-gambling sites that we just want to test the waters, do you consider complying with KYC at those right away?

Some people have chosen crypto gambling because they prefer to keep their identities in private and they don't want to expose their identities for some reason. If they will just keep in mind that complying with the KYC is no big deal then they won't make it a big issue. They Shouldn't fear KYC anymore because most casinos nowadays require it. It's also for our own safety and so far, I haven't heard any bad feedback about KYCs.
The KYC problem is now a burden for some crypto gamblers because those not required to do it are now asked to do it by casinos, especially if they win big and want to withdraw the winnings. Even though a few years ago, casinos didn't pay much attention to this, but because regulators seem to see how online casinos are developing, especially crypto casinos so far, regulators feel the need to know which gamblers use crypto to gamble.

As long as the casino can maintain the identity of all its customers who have done KYC well, crypto gamblers are also willing to do KYC. But the problem is that problems arise, such as identity abuse or buying and selling of identities on the black market. This is what makes crypto gamblers very worried if the casino gets hacked and steals all identities in the casino.