Beware of KYC/AML Requirements - Possible Scam

Discussion in 'Report Problems With BTC Gambling Sites' started by Humble Servant, Jul 6, 2017.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    We regularly read other forums in order to find irregularities and accusations of scams aimed at other bitcoin sportsbook, poker rooms and casinos. Recently we came across this disturbing thread of a customer who had 21.5 BTC stolen from him by The poster deposited 15 BTC at and won an additional 6.5 BTC but when he tried to withdraw his account was suspended and they demand he go though a KYC/AML procedure. After supplying the KYC documents, they shut his account and kept both the 15 BTC and the 6.5 BTC he won.

    A representative from confirmed that "Regardless the nature of Bitcoin payments as a regulated operator we are obliged to ID verification, KYC and AML (anti-money laundering) procedures by the regulator at certain withdrawal levels."

    How many people actually go though the Terms & Conditions when they sign-up with crypto currency at gambling sites? The expectation is that you will be allowed to remain anonymous at bitcoin-only sportsbooks and will not have to go though a KYC and AML procedure.

    If bitcoin gambling operators require KYC/AML, we think they should be upfront and tell players before they deposit. For this reason, we are warning our readers that is a "Possible Scam"

    Here is our guide to trustworthy BTC sportsbooks.

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