Sportsbook KYC When Collecting SCAM

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  • Brooklyn Dick
    SBR MVP
    • 09-12-08
    • 1081

    #1
    Sportsbook KYC When Collecting SCAM
    What is KYC? It is to check the legality of money deposited in a Bank or other business. So when you deposit money in a book that claims to do KYC that is WHEN it is done to see if the money is from a legitimate source.
    So you deposited your money and the Book took it. KYC done. Now you win money from the book on top of your deposit that already went through KYC. Here is the Scam they use to either delay or out and out ROB you. KYC on money that is coming from the Sportsbook, not YOU. So why is it necessary to check the source of the funds you are collecting? Answer it is NOT necessary because it is coming from the Book.
    I defy any poster from any Sportsbook to debunk what I just posted.
  • nbaguy23
    SBR Hustler
    • 11-18-24
    • 62

    #2
    Agreed,

    And if it's truly so "important" why is it that it's assigned to a specific "team" that you can't get ahold of and seemingly doesn't have any sense of urgency, whatsoever.
    Comment
    • Optional
      Administrator
      • 06-10-10
      • 62258

      #3
      I do not like that sportsbooks are required to collect so much personal info, and we are required to give it to every book we use.

      But, it's designed to capture three main things; Make sure bookmakers do not target vulnerable gamblers and those who are betting more than they can afford, make sure the funds come from a legal source, and identify money laundering.

      So I won't just debunk your claim as challenged, I will also say It's a complete nonsense to think bookmakers must do it before, or when, you deposit and clear you forever at that time. That makes no logical sense at all.



      Obviously less scrupulous operators use KYC as a way to profile you, delay and look for a reason to not pay. Which is why there is hidden value for bettors in using books with valid licenses in your jurisdiction.

      What book is messing you around at the moment Dick?
      .
      Comment
      • Brooklyn Dick
        SBR MVP
        • 09-12-08
        • 1081

        #4
        No book ever messed around with me. And I never had to post money with a bookmaker.
        And I stand by what I posted and the idea by Optional that money received initially does not go through KYC is not the way the law reads it. That is the money that goes through KYC as it is the ONLY money that came from the player in my example.

        My post has NOTHING to do with vulnerable gamblers or players that over bet. That is the "talking points" of the BS........So I see nothing posted yet to debunk what I said.

        And one more thing to add. How many of these Sports Books EVER chased a customer because he lost too much money?..
        Comment
        • nbaguy23
          SBR Hustler
          • 11-18-24
          • 62

          #5
          So you're not calling bs on KYC, you're calling BS on KYC delays and "stuck in KYC"? I think most would agree with that
          Comment
          • Optional
            Administrator
            • 06-10-10
            • 62258

            #6
            Originally posted by Brooklyn Dick
            No book ever messed around with me. And I never had to post money with a bookmaker.
            And I stand by what I posted and the idea by Optional that money received initially does not go through KYC is not the way the law reads it. That is the money that goes through KYC as it is the ONLY money that came from the player in my example.

            My post has NOTHING to do with vulnerable gamblers or players that over bet. That is the "talking points" of the BS........So I see nothing posted yet to debunk what I said.
            It's really not BS. It comes under the responsible gaming guidelines each state license sets out and is a primary part of the required KYC.

            Anyway, I get your frustration. I hate KYC and feel it's a breach of my privacy too. But the requirements are real and come with huge penalties for the book if they get caught out not doing it "properly".

            We have rarely seen genuine complaints that any state licensed book uses KYC unnecessarily to stall or go fishing for reasons to not pay.
            .
            Comment
            • Optional
              Administrator
              • 06-10-10
              • 62258

              #7
              Originally posted by nbaguy23
              Agreed,

              And if it's truly so "important" why is it that it's assigned to a specific "team" that you can't get ahold of and seemingly doesn't have any sense of urgency, whatsoever.
              The logic for that is that there are rules books need to follow about what info they can tell you so only "trained specialists" can deal with it.

              Definitely not saying this is a good system. But it's not the way books just choose to do things. It's mostly imposed on them and the threats of fines are real and can be very large.

              In my opinion a better way to do it would be making the state license issuers responsible for handling all ID, and be the place books refer any accounts they suspect are vulnerable people or using illegal funds.
              .
              Comment
              • Brooklyn Dick
                SBR MVP
                • 09-12-08
                • 1081

                #8
                Unless you are in a Coma you would know that there are many books now operating in the US that are not licensed and clearly iLLEGAL. And some of these are the major thieves using KYC. An illegal book is just that Illegal. How can they justify even using KYC?

                This would be like a guy robbing a bank but stopping to fill out a withdrawal form.
                Comment
                • Optional
                  Administrator
                  • 06-10-10
                  • 62258

                  #9
                  Originally posted by Brooklyn Dick
                  Unless you are in a Coma you would know that there are many books now operating in the US that are not licensed and clearly iLLEGAL. And some of these are the major thieves using KYC. An illegal book is just that Illegal. How can they justify even using KYC?

                  This would be like a guy robbing a bank but stopping to fill out a withdrawal form.
                  Don't take this as arguing with you. But to answer the question... in the case of CR based offshore books they operate under a local business license. And as the CR government is party to an international anti-terrorism/money laundering agreement holders of those licenses are "required" to adhere to KYC guidelines if they are deemed to be money transfer businesses, as bookmakers are.
                  .
                  Comment
                  • Brooklyn Dick
                    SBR MVP
                    • 09-12-08
                    • 1081

                    #10
                    Originally posted by Optional

                    Don't take this as arguing with you. But to answer the question... in the case of CR based offshore books they operate under a local business license. And as the CR government is party to an international anti-terrorism/money laundering agreement holders of those licenses are "required" to adhere to KYC guidelines if they are deemed to be money transfer businesses, as bookmakers are.
                    Let me get this straight. So the CR Government has no problems with CR based Sportsbooks Illegally operating in the US as long as they adhere to CR rules. …………I stand by my post. This is just more nonsense.

                    Comment
                    • Optional
                      Administrator
                      • 06-10-10
                      • 62258

                      #11
                      Originally posted by Brooklyn Dick

                      Let me get this straight. So the CR Government has no problems with CR based Sportsbooks Illegally operating in the US as long as they adhere to CR rules. …………I stand by my post. This is just more nonsense.
                      There sure is some nonsense there.

                      Um. Well of course the CR govt allows that. They are 100% legal businesses, who can sell their service to anyone, just like every other legal business world wide.

                      Does CR get to decide what is legal in America?

                      Do you think the CR govt should consider them illegal because Saudi Arabia says their people cant bet there too?

                      You don't appear to want to hear any real answers. I'll leave you to it now
                      .
                      Comment
                      • SportsBettor5
                        SBR Rookie
                        • 01-12-22
                        • 32

                        #12
                        Approximately 0% of offshore sportsbooks will KYC a client upon deposit. The offshore model has been and continues to be to accept funds from anywhere with no scrutiny as long as the client loses the funds betting.

                        On the other hand, most offshore sportsbooks demand documents upon requesting withdrawal. In many cases, players lose their funds betting while waiting for the KYC process to conclude. Occasionally, the sportsbook can deny the player his withdrawal by accusing the player of breaking terms.

                        It appears that most offshore sportsbooks use KYC merely for the purpose of protecting their own finances and not for regulatory compliance.
                        Comment
                        • Brooklyn Dick
                          SBR MVP
                          • 09-12-08
                          • 1081

                          #13
                          Originally posted by SportsBettor5
                          Approximately 0% of offshore sportsbooks will KYC a client upon deposit. The offshore model has been and continues to be to accept funds from anywhere with no scrutiny as long as the client loses the funds betting.

                          On the other hand, most offshore sportsbooks demand documents upon requesting withdrawal. In many cases, players lose their funds betting while waiting for the KYC process to conclude. Occasionally, the sportsbook can deny the player his withdrawal by accusing the player of breaking terms.

                          It appears that most offshore sportsbooks use KYC merely for the purpose of protecting their own finances and not for regulatory compliance.
                          Like I said in my original post. NO ONE CAN DEBUNK THIS. KYC="KEEP YOUR MONEY"...



                          Comment
                          • 2Sweeet
                            SBR MVP
                            • 08-31-22
                            • 1340

                            #14
                            I'll tell u one that hasn't ever asked me for any KYC yet is Bet105 and I've cashed out a good amount. They r a crypto book though. I've only been with them for a few months so take it for what it's worth. I would tell anyone I think u r safe with a few thousand or what ever u deposit usually with this book... Yet we never no in the end.
                            Comment
                            • 2Sweeet
                              SBR MVP
                              • 08-31-22
                              • 1340

                              #15
                              Originally posted by Brooklyn Dick

                              Let me get this straight. So the CR Government has no problems with CR based Sportsbooks Illegally operating in the US as long as they adhere to CR rules. …………I stand by my post. This is just more nonsense.
                              Brooklyn Dick u r way wrong here and it's not even close.
                              Comment
                              • 2Sweeet
                                SBR MVP
                                • 08-31-22
                                • 1340

                                #16
                                Originally posted by Brooklyn Dick
                                Unless you are in a Coma you would know that there are many books now operating in the US that are not licensed and clearly iLLEGAL. And some of these are the major thieves using KYC. An illegal book is just that Illegal. How can they justify even using KYC?

                                This would be like a guy robbing a bank but stopping to fill out a withdrawal form.
                                Unless u r in a coma or just a retard why would u play with these Illegal books from the USA that u find on X and Tik Toc? Just to get a bonus? Can't complain now when they ask u for your ID and the Deed to your house? Hell I didn't like giving my ID to FanDuel.. Now Some USA legal operations want a SS card LOL...

                                I do believe if u deposit in crypto offshore u should not have to provide anything unless they got you dead to rights messing with limits or Bonus abusing. No way to charge back a crypto transfer. I do agree this is a stall tactic at times. Just don't bet again until u are verified and no u can cash out.
                                Comment
                                • Brooklyn Dick
                                  SBR MVP
                                  • 09-12-08
                                  • 1081

                                  #17
                                  You put money in a bank. The bank has an obligation under KYC to know the source. Then you earn interest on a CD or other instrument. That money comes from the bank and has NOTHING to do with KYC. That is a fact than no one here can dispute.

                                  You deposit money with a Sportsbook. They accept it. Never a problem there. If there was KYC that is when it has to be done about the source of the money. Same as a Bank. Now you win and that money comes from the Sportsbook and has NOTHING to do with KYC.

                                  You can post all you want you cannot DEBUNK this. I will leave you to your posts that have NOTHING to do with facts…..
                                  Comment
                                  • nbaguy23
                                    SBR Hustler
                                    • 11-18-24
                                    • 62

                                    #18
                                    Yeah I'm still with BD here. KYC is nowhere to be found when you're depositing $ and losing it to the book, but when you're winning money there they are with their "we have no timeframe but are reviewing"

                                    Sure there's plenty of X Y and Z books who you can site having success on and have paid out, duh. But unfortunately other books seem to use KYC (a relatively honest verification process) at inopportune times and it doesn't feel like "verifying" you is their goal at all.

                                    Look up the Bookmaker fiasco from last year that myself (eventually got paid out) and many others got ghosted with. Look up how xbet and mybookie treat people with it, Betdsi is a joke, Heritage is ran by 4th graders. If every book just operated like betonline, these threads wouldn't exist, but they don't-not even close.
                                    Comment
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