Post
Topic
Board Gambling
Re: A way to attract new users or a misunderstanding?
by
TheGreatPython
on 18/04/2023, 09:36:23 UTC
Asking for KYC verification for a Casino crypto project is not necessary, even most of the traditional bet bookies for sports betting do not

Anything that has a relationship with “gambling” shouldn’t attach KYC verification to its platform because it places a limitation of which some persons may not be able to reach, so yes, asking for KYC Verification I think is a misinterpretation of what web3 and “gambling” represents in general.
You should say that asking for KYC verification for a decentralized casino project is not necessary, when it comes to centralized platforms, they have licenses and would definitely require KYC to comply with regulations and AML laws imposed to prevent the businesses from anti-money laundering and other such illegal activities.

When we talk about traditional casinos or sportsbooks, the reason why they didn't require KYC is that there was no such concept back then, KYC was introduced just recently after the rate of illegal activities and cheating was on the rise.