I’ve noticed some scam accusation posts against certain casinos, and there seems to be a trend here.
Some casinos advertise themselves as KYC-free, but the moment you win big, that’s when they suddenly put all the requirements on you. And it’s not just basic KYC, they ask for heavy documents like passports, and some even request bank account details.
So I’m wondering, is this really a legal safeguard, or are they just using it as their own policy to forfeit players’ winnings?
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?
Lots of crypto casinos really abuse the KYC requirements for their own benefits and it's a very sad situation that we have on the market, sadly there is also no one that will regulate things for us because no one cares about the power that casinos have and abuse. Btw at the same time, to be fair, crypto business has always been dependent on trust, so I would say that only gamble on casinos that have a very high trust reputation on this forum.
Btw there are sometimes cases when KYC requirement after a big win makes sense, especially when there is a fact of arbitrage betting or sold games or something like that but that's rare.