In my opinion, KYC requirements in regulated gambling sites can be viewed from a security perspective. When we gamble on a site that is regulated, it often means the operators need to adhere to certain security and transparency standards. These standards include verifying the identities of their users to prevent fraudulent activities.
As for me, the main problem with the KYC requirements both at gambling sites and centralized exchanges is that it is not known how exactly and for what purpose the personal data of users are used. I mean that if you give your personal data to any company, you shouldn't be surprised that your data can be stolen and used by malicious people at any time. Unfortunately, there have been many such cases in the crypto industry.
That's a concern for many gamblers. But the question is, can we avoid the KYC requirement when it's mandated by the regulators for gambling sites? It seems like we have no choice here. The options are clear: either the gambling site implements the KYC policy and continues to operate, or they choose not to implement it, risking the cessation of their business.
As gamblers, we're left with little choice in this matter. If we want to gamble, we have to comply with KYC, and that's the unfortunate reality.
While there's a concern that our identity might be stolen, it's crucial to remember that the responsibility for protecting our information lies with the gambling sites. Regulators could penalize them if such breaches occur. However, as gamblers, we're well aware that sharing our KYC information carries potential risks, and we accept that risk when we sign up.