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.
This is a complete misinformation about the purpose of KYC on gambling. Crypto is now being regulated same as fiat due to potential exploit on casino for coin mixing to commit money laundering. KYC is the main requirements for Anti Money Laundering policy given by the license provider to the casino that availing their license for legal purposes. We are now on an era that government is already regulating the use of crypto compared before when crypto is still on the grey area.
Mass adoption incorporates a regulations since many people is already involved. There is no decentralized thing on a business that has a license to operate. Only Bitcoin is the decentralised in crypto and the rest is just a pure bluff.
Yes, it is a form of anticipation of money laundering that can be done in gambling, I really understand how centralized business mechanisms cannot be decentralized even though they enter the web3 still for the operation of gambling work mechanisms in a country will be asked for a license according to the rules of gambling which is legally valid, except that the government in certain countries does not require gambling business operators to be asked for customer data to verify things that can be manipulated such as money laundering in gambling and they can claim that they are indeed decentralized, but still if they having a parent is tantamount to being centralized.
Today, nothing is decentralized except bitcoin, any business and any project that has a license from the relevant government and has an operational parent means they have a stage somewhere to run their company, meaning they are centralized.
after all their bookies will always be offering something hype to entice their customers they have to have to lie.
I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.
Fiat and crypto serve the same thing,
so it's understandable that both are being an instrument for money laundering.
I see the point where crypto gambling is being dragged when we talk about money laundering.
Though just like what you have said, there are safety precaution and rules that the site is using to protect
their business.
Knowing that they are subject to this kind of issues, they needed to comply with the government rules and needed
to make sure that they are open to anything that will clear their business.
It may be, I do not deny that they can use it for money laundering, but it is like something silly on the part of those who are going to do it, I would call them newbies, because they obviously know very well that casinos, when they see strange behavior or actions, usually suspend the account , and since they have to go through a kyc process, it is not pleasant at all, because they expose their data or those who have been paid so that they can do such a thing, there are methods to launder money that are much more effective than putting it in the casino, in In this case, it is best to put things in a safer place (which the draftsman knows very well) and not expose his money, of course it is my personal perception, governments launder money, but they do not use casinos or exchanges.