Quote from: Hispo on Today at 10:59:39 AM

Quote from: TheUltraElite on Today at 09:42:47 AM

Quote from: salad daging on May 25, 2024, 09:19:04 PM

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It is unfair to see from the gamblers point of view but from the casino's point of view it is very much needed. This can be argued in different manners, but end of the day the gamblers will not stop gambling so they "need" the casinos to run and the casinos "need" the players money to keep itself running while keeping it safe from money laundering.
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Casinos need gamblers and gamblers cannot do anything (besides betting) if there are not casinos around. Even though at first we could see this relationship as symbiotic and well balanced, there is a third entity which is involved: regulators and the government. They do not necessarily "need" gamblers or casinos to function or comply with their basic duties, though, the tax from both the casinos and lucky gamblers certainly help to run a country.
KYC and AML were not always a thing, and the relationship worked, but it was also true organized crime had their way with money laundering, they had more liquidity. I see the KYC as a kind of referee within the gambling ecosystem, filtering out "gamblers" with bad intentions and letting alone those who just want to enjoy a service.
Though, it is completely different thing when a shady casino (which may or not lack of liquidity) abuses the referee and turns it against a legitimate gambler who just want to withdraw his money to his personal wallet.

Gambling is big business, folks. It generates cash and jobs, benefiting everyone. You have casinos for amusement and excitement. Gamblers power the enterprise. Beautiful. Of sure, we need rules. We cant let criminals use casinos as piggy banks. So KYC and AML are needed. These measures maintain system integrity and fair play.

However, some of these operators, they're not playing fair themselves. They're exploiting these rules to get every penny from gamblers. Thats wrong. It hurts business, gamblers, and everyone. We must ensure correct use of these regulations. We need greater control, clearer standards, and transparency. We must ensure the system works for everyone, not only casinos. Thats the only way this industry can thrive.