Post
Topic
Board Gambling
Re: do anyone have done this? with gambling platforms
by
Hirose UK
on 11/10/2023, 04:58:35 UTC
~snip~
Usually, casinos will ask gamblers to do KYC if they want to withdraw large amounts of money. Especially if they never or rarely withdraw large amounts of money. You've written down what gamblers need to do if they want to do something other than KYC. But they must be ready for KYC if necessary because there is a possibility that every casino will ask its users to do KYC in the future.

And since gambling is entertainment, we also don't need to play with a lot of money. And if we win a big amount, we can use it to play for a while and withdraw the winning money.
No the thing is that,  as an AML compliance rule for financial licensing,  any funds into a personal account which go above $5000 must have to go through verifications and at that at some point a gambler who's transactions go above the threshold will be prompted to go through kyc and an anti-money laundering measures,  there is no two ways to that and at such you have to go through with that or operate within the set limits that are set by various casinos and other financial service providers.
This is true for every nominal amount of incoming or outgoing funds that exceeds the normal limit verification will be asked for or if not every transaction with that amount will be cancelled.
This kind of thing applies to all casinos in existence and I think there are some gamblers who might be put off by rule like this because some of them are not aware of it from the start.
Indeed once it becomes policy no gambler can skip it freely and inevitably they are obliged to complete the verification requested by the casino.