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Are Casinos the Main Contributors to the KYC Development?

The online gambling industry is booming, and experts predict it will grow to be worth $94.4 billion by 2024. Online casinos have rapidly grown over the years since the first successful software appeared in the 90s. Similarly to other industries, online gambling has bad actors who may exploit unsuspecting customers. Therefore, governments around the world have passed laws prohibiting or regulating online gambling.

Despite the complexity and specificity of online gambling regulations, underage access to online casino games has always been the primary concern. The age verification software at online casinos should ensure that minors cannot gamble.

KYC in an Online Casino: What Is It?

To combat money laundering, governments require regulated online casinos to perform KYC or Know Your Customer processes on their customers. A mandatory verification process also referred to as enhanced due diligence, is designed to eliminate financial crimes. As a general rule, KYC verifies that players are who they say they are, and banks and other institutions do it to prevent money laundering.

With KYC, a casino can identify its customers with the help of Personal Identifiable Information and ID proofs. By doing so, the process prevents illicit funds from flowing through online casinos. As well as preventing underage players from gambling, it prevents self-excluded gambling addicts from opening multiple accounts. Furthermore, this process helps to prevent online casinos from losing money to fraud.

For example, the online casinos at can begin the KYC process by asking players to provide certain documents. This requires the platform to verify or prove the following details about the player:

  • Identity
  • Age
  • Address
  • Source of income
  • Payment method or account ownership
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When the KYC process is initiated, a casino prevents a customer from withdrawing or depositing funds from or into their account until the process is completed fully. The platform will close a player’s account if they fail to comply with KYC requests or do not provide the required documents. As a result, the player’s casino account will be forfeited along with any bonus funds.

Documents Used for Casino KYC Identity Verification

It is possible for the verification process to vary due to various factors. The KYC process generally requires players to provide copies of the following documents.

  • You will be asked to provide proof of ID if you wish to play at an online casino. You will usually need a government-issued ID, such as a passport or driving license, in order to use the platform.
  • You will need to provide a proof of address document to online casino operators if you want to verify your location. It is a requirement for most online casinos that players provide their addresses when they open an account. In other words, proof of address is a document stating the address and name of the person. Bank statements, utility bills, or credit card statements can be used for this purpose.
  • It is required that players provide proof of the method they use to deposit or withdraw funds at online casinos. Generally, online gambling platforms accept deposits from bank accounts, Skrill, Neteller, and credit cards. Verifying a credit or debit card requires showing the last four and first six digits, the expiry date, and your name. If you use Skrill or Neteller, you need to take a screenshot of your account number, ID, email, and name. To verify your bank account, you need a screenshot of your online bank account showing your name and account details.
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Having to go through the KYC procedure can be an inconvenience for gamblers. Additionally, it can be frustrating when players are waiting for their money after requesting a withdrawal. Why is this important?

What Is The Importance Of KYC?

Online casino operators are legally required to verify their users’ details, including their age, identity, funds, and addresses, to prevent fraud. Trust is of primary importance to legal and reputable online casinos in order to ensure fair play and customer security. Nevertheless, some companies bolster their competitiveness and ensure compliance with relevant laws by verifying players’ identities.