So I’m wondering, is this really a legal safeguard, or are they just using it as their own policy to forfeit players’ winnings?
I would say it could be 1. to steal your money and 2. for legal reasons.
Even the KYC casinos often ask for hefty verification after winning, so this is not new, as it has some cheating undertones.
As for the legal reasons, though some casinos could advertise no-KYC but still fear the government and would want to obey the AML Acts when it comes to big money.
This is actually a serious concern. Most of us might not have reached that level yet, but what if one day we do hit it big and end up facing the same situation?
I've never been afraid to complete my KYC with any company. All I am concerned about is how to keep myself and my finances safe. And of course, the most registered and regulated casinos can still cheat you, it's all about integrity. So, let's hope and pray we do not be their victims. And let's try to choose wisely.