Anonymous crypto casinos: Benefits & how to stay safe

What are anonymous casinos?

An anonymous crypto casino is an online gambling site where you can use cryptocurrency to play games without giving out any of your personal info. These types of casinos are not part of the 'high street' gambling space — nope! They're designed to keep your identity a secret… or at least as low-key as possible.

Usually, when you play at an online casino, you have to give out your name, address, phone number, and payment details. But with an anonymous crypto casino, all you need is a crypto wallet address to deposit and withdraw funds.

This means you can gamble without anyone knowing who you are since crypto wallets are not connected to your personal identity.

Web3 wallets for anonymous gambling

When it comes to gambling anonymously, having a secure web3 wallet is key. A web3 wallet, or a crypto wallet, is a digital or physical device that keeps your private keys safe. These keys are essential for accessing and managing your cryptocurrencies and other blockchain assets.

... having a secure web3 wallet is key.

Each wallet creates a unique private key, which is like a secret code that lets you access your funds and assets. This private key is the only way to move your digital assets, making it crucial for keeping your gambling money secure and your identity private.

Web3 wallets also help establish your digital identity. Consider it like this: in the web3 space, your wallet is your identity. All web3 wallets have 12-word private keys. Basically, these 12 words are your whole identity.

What crypto casino doesn’t require ID?

Keep in mind that while anonymous crypto casinos don’t ask for your identity upfront, it doesn’t always mean ID checks are completely off the table.

The whole thing about requiring an ID for gambling is about checking if the person is of the legal age for gambling. But how could you check someone’s age and identity if they use a crypto wallet for gambling and nothing else?

Well, some online crypto casinos use a thing called KYC. Quite simply, KYC - or “Know Your Customer” - is the process by which a business or organization finds out information about its customers. More importantly, KYC is a way to verify the identity of customers to prevent fraud. Now, online casinos holding licenses from UKGC and MGA are legally required to implement KYC checks.

The exact KYC requirements vary from license to license, but since most casinos hold Curaçao licenses, I'll focus on these regulations. Any casino holding a valid Curaçao license must comply with the Regulations for Anti-Money Laundering and Combating the Financing of Terrorism.

KYC requirements

• Player identification: Verifying the identities of players, which includes collecting and verifying official ID documents, such as passports or driver’s permits.
• Enhanced due diligence: High-rollers making larger transactions undergo more rigorous checks and ongoing monitoring.
• Record keeping: Crypto casinos must keep comprehensive records of player transactions (plus KYC documents) for a specified period (not more than a year).
• Reporting of suspicious activity: Casinos must report any suspicious transactions or player behavior to relevant authorities.
• Staff training: Casino staff must receive adequate training on AML (Anti-Money Laundering) regulations and procedures to identify and report any suspicious player activity.
• Customer awareness: Casinos must educate players about responsible gambling and problem gambling behavior.

I’ll go out on a limb here and say that I doubt most crypto casinos would choose to implement KYC checks if it weren’t mandatory. It’s not a simple process, and it’s time-consuming for everyone involved.

But the matter isn’t really up for debate - licensed online casinos are legally required to implement KYC checks.