Why Do Crypto Players Hate KYC Casinos?

Over the years, the online gambling industry has changed much to accommodate the varying betting preferences of players. For one, what used to be an all fiat money-transacting community now evolved to give way to cryptocurrency transactions in casinos.

As the number of users of cryptocurrencies increases, the number of casinos that now accept Bitcoin increases as well. If you’re a long-time member of the online gambling community, you’ll know that long-running online betting hubs like Tangiers Casino, NetBet, ToneyBet, and Americas Cardroom are now welcoming to crypto players.

However, the transactions on these betting sites are not crypto-exclusive. These brands may be flexible in terms of payments, but they get the big “nos” of players who bet solely in Bitcoin. Why? It’s because fiat-money casinos are required to carry out the know-your-customer procedure (KYC) through which players are asked to give their personal info before they get permitted to wager real money on the website.

The next question now is, why do crypto players hate KYC-requiring casinos? Here are four reasons which may even make you want to switch to crypto casinos and their affiliate programs.


1| Complicated Processes

Even fiat-money players can relate to this. You fill out long registration forms, submit proof of identification, send selfies, and give bank details. All these before you can finally get to bet some money. You will have to do these even if you just want to test the waters of the casino.

And the process doesn’t end there. There’s still more to do during deposits, more so in withdrawals.

Most of these hassles are out of the equation when you join a no-KYC casino. And crypto gamblers like just that.

2| Anonymous No More

Crypto players want to play anonymously. Some of them are not cool with the idea of others knowing that they gamble or that they won or lost big in gambling.

A number of Bitcoin bettors, on the other hand, know in the very first place that if KYC is carried out, they’ll be barred from placing bets, possibly because of not meeting the law-imposed age requirement, jurisdiction approval, etc.

While this makes sense, some legal experts still argue that cryptocurrency, being not technically considered a legal tender, in gambling is still an area not covered by almost any gambling laws established in jurisdictions. This is one reason betting with crypto in areas where gambling is prohibited is still not considered an illegal act. And this should not be the fault of players that wager virtual currencies.


3| Jurisdictional Restrictions

You are a member of an online casino catering exclusively to people in your country. You bet from the comfort of your home and deposit/withdraw betting funds therefrom. The next day, you go to another country, then find out you can’t log in to the betting site you signed up with anymore because of country restrictions.

Different countries implement different laws. What’s legal in your country may not be allowed in another, like gambling. But with crypto casinos that usually allow its players to transact wallet-to-wallet, licensing and bearing with jurisdictional restrictions are skipped. This way banking or payments should not be interfered anymore by government-borne processes.


4| Risk of Getting Exploited

Have you ever heard of cases of data exploitation brought about by KYC carried out by casinos that are now closed? Since KYC sometimes require players to give emails and banking details, they somehow put themselves at risk of being taken advantage of by scammers and hackers.

When licensed casinos close or go bankrupt, you won’t always know what they’ll do next with the database of player info they gathered. Whether they sell it to salespeople or to scammers, that won’t be out of your control.

Instances of data exploitation are a big reason crypto players want to transact in virtual currencies, most especially when in the gambling industry.

Maximizing iGaming Affiliate Marketing

With all these valid concerns in mind, you may now be thinking of redirecting your focus. If you are a casino player, it won’t harm if you give no-KYC betting sites a try.

If you are an iGaming affiliate, knowing the above issues may now be your turning point. Since the crypto gaming community is growing fast, it won’t be a surprise if more players look for betting hubs with no KYC where they can be free from those discussed issues.

Now, rethink your casino affiliate marketing approach. Considering joining the affiliate programs of online casinos with no KYC. Some good examples are:

Don’t make your affiliate program choices be limited to the above. More and more crypto casinos with no KYC are now emerging brought about by the growing community of crypto gamblers. To discover more options, join Bitcointalk’s Gambling thread and check our lengthening list of casino affiliate programs.