Ninjastic
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Re: ⚽🎮🎲 Coinplay.com | Brand New Crypto Sportsbook & Casino
by
slapper
on 08/03/2023, 06:33:50 UTC
Quote from: ethereumhunter on Today at 03:21:01 AM
Quote from: Kaiba_Defi on March 07, 2023, 08:54:44 AM
Quote from: ethereumhunter on March 07, 2023, 05:03:08 AM

But that's how it is because the government also supervises the licensed casinos so they have to follow the regulations from the government. If your winnings aren't as big as everyone else's or under $100, the casino will let you withdraw the winnings. So get ready to do KYC. The casino may ask you to do KYC if you get a big win.

But I think if the casino is reputable and we always use it, it means we already believe that the casino can provide security for the data we submit to them so we can do KYC safely. And if you really don't like those ways, maybe you can move on to another casino that doesn't ask you to do KYC. But everything will have a risk behind it so we should understand the risks and be able to choose what is good for us.

Any casino needs customers, so casinos are interested in being as loyal to their customers as possible in order to keep them. The passage of KYC is regulated by law, while casinos must ensure that there is no fraud during the passage of KYC and all user data is stored in a safe place.
That's why casinos sometimes ask for KYC randomly to know that their customers are not doing things prohibited in their casino. And yes, casinos need customers but they also have to follow the rules set by the regulators to apply those to their customers. And we are still lucky because not all customers are asked to do KYC and only customers who win a lot of money can be asked to do KYC. Actually it depends on how we play at the casino and as long as we can play gambling with the money we can afford and don't cross the line, we will be safe playing there.
It fascinates me how casinos manage to function within such a dense web of rules and guidelines imposed by authorities. Making a profit is important, but so is preventing customers from breaking the law. Casinos use a variety of measures, including random Know Your Customer checks, to guarantee they are following the rules. Furthermore, the fact that only the biggest winners are subject to Know Your Customer checks is evidence of the system's fairness because it limits the opportunity for abuse of privilege. Responsible gambling, within one's financial means, is the best guarantee of a good time at the casino.