Post
Topic
Board Gambling
Re: The Rise of Crypto Gambling: What You Need to Know
by
Pandu Geddon
on 26/07/2023, 14:00:47 UTC
I admire your trust in the casinos suggested by the community. But that doesnt mean you shouldnt do your homework before working with them anyway. Consider the casino's operational transparency, licensing, and history of managing customer complaints in addition to its position in online forums while making your decision.

That some people don't fully grasp KYC is a valid point. But I feel compelled to add that sniffing out wrongdoing is only part of the story. It's a rule that needs to be followed so that crimes like identity theft and financial fraud don't happen. It has nothing to do with how large or small a gambler you are and is instead a measure taken to maintain trustworthiness and openness in the online gambling system.
The people that are not easily willing to complete KYC verification at casinos when demanded are going to have nowhere to go for their gambling activities in the near future because there will be strict regulations then, and someone who doesn't complete their verification on time would simply not be allowed to use a platform, gambling is a very far thing, so people need to start getting used to this system because it is most likely here to stay.

While most of us believe that a casino that operates under a license tends to be more safe and secure for us and our assets, this small group of people think that a casino that has a license and asks for KYC verification is going against their privacy, like they are the only ones being asked for it.
But even so you can still gamble without the obligation to do KYC, with the limits set by the casino itself, so in my opinion it's not a problem if you want to maintain your personal identity by not doing KYC, you only need to deposit and withdraw below the limit. But yes, when you get big profits with small capital, of course you also need to do KYC if you want to withdraw the winnings you get in your gambling.

KYC cannot be avoided even though it is contrary to the wishes of anonymity because the average gambling platform has implemented it, except maybe a gambling platform that does not have a license, that is possible, but it is not safe for you to gamble.

And it seems that this policy is indeed based on the rise of gambling activities that are misused, and including gambling using crypto which is experiencing increasing adoption.

it's not just a withdrawal problem that might make us have to do KYC. Regarding account activity, we can also highlight it if it is indicated as suspicious. some gamblers may engage in illegal activities for their gambling, such as using multiple accounts for profit.
I personally have no problem gambling with casinos that ask for KYC. as long as we do everything right. I'm sure there won't be any problems. I know, some people like to remain anonymous. but everything is a choice.