Post
Topic
Board Gambling
Re: Cloudbet | Bitcoin Casino & Sportsbook | The No.1 Bitcoin Gambling Site
by
bbc.reporter
on 05/03/2023, 07:43:04 UTC

and that is usually the case with licensed online casinos. so that when you win big and want to withdraw all the winning funds, the platform has the right to request KYC from these customers as a condition that must be carried out to be able to withdraw these funds.
it's all because the casino platform is licensed and subject to regulations that have been in accordance with the agreement from the beginning with the licensing company.
so for me, if it's true that you get a big win and want to withdraw it but are asked to do KYC, I'll do that. because it is just one way to comply with the rules and to be able to withdraw large funds from our account.

If you win a large sum in an unlicensed casino, then no one will pay you anything. Sometimes it is easier for a casino to create a new website than to pay large winnings to players.

I agree that it might be cheaper to create a new casino than to pay millions of dollars of winnings to a single bettor who has gotten lucky. However, licensed or unlicensed, it is not easier to convince people to deposit their money and play in your new casino. You need to prove that it is trustworthy, safe and honest. This is very hard and it might be easier to buy a casino that is known already.