If you’ve ever signed up at a licensed online casino, the chances are that you’ve come across Know Your Customer (KYC) protocols.
KYC gambling is commonplace in regulated casino and betting markets, as it enables operators to verify your age and your identity as you wager or withdraw your winnings.
But what exactly is KYC, and how does it help to protect both betting brands and players alike? We’ll explain all this and more in this comprehensive guide!
What is KYC in Online Gambling?
Put simply, KYC is a process through which casinos and sportsbooks verify your identity and personal information. This is to ensure that you’re of legal age, while it also helps brands to identify and assess the potential risk that you pose as a customer.
But how do KYC casinos verify your identity and age? Most often, they’ll request official documents when you register for an account in order to verify different aspects of your identity. Requests may vary depending on precisely what the operator wants to verify, while you may occasionally have to provide different types of KYC documentation.
You may be asked to provide the following documentation when gambling at a KYC casino:
- Government-issued ID cards, such as a passport or driver’s license
- A social security card
- Proof of address, such as a utility bill (dated within three months) or bank statement
If a know-your-customer casino asks you to provide documentation and you fail to do so, you may be unable to bet real money or access your winnings. So, it’s crucial that you comply with online gambling KYC requirements at all times while providing honest and accurate information when you register for an account.
Reasons Behind Casinos KYC
Gambling KYC sites exist for several reasons and are designed to safeguard both players and brands. Here’s a summary of the challenges and issues that underpin casino KYC brands and how the protocols offer widespread protection:
- Prevents Money Laundering and Fraud: By adopting KYC protocols, betting brands can identify suspicious activities such as fraud and money laundering while potentially stopping these in the early stages. In regulated markets, casinos that don’t use KYC and are subsequently used for the purpose of money laundering will face huge fines and sanctions.
- Identify and Monitor Risk: KYC gambling sites also require players to provide honest and accurate information (such as their legal name, DOB and physical address). This allows brands to identify and monitor customer risk at all times successfully.
- Counter Underage Gambling: By requiring players to provide accurate personal information, KYC casinos can also verify the legal age of everyone who registers for an account. In this manner, underage and potentially vulnerable gamblers can be protected.
- Identify Problem Gambling Patterns and Behaviors: KYC protocols also enable casinos and sportsbooks to detect risk factors and problematic gambling behaviors better. This makes it much easier to identify problem gamblers as well as affordability issues ahead of time.
Are Online Casinos Without KYC Safe?
You can easily find offshore online casinos without KYC in jurisdictions or states without regulated markets. These will typically be licensed by offshore regulators such as CIL, Antillephone, and Curacao Gaming, but are these entities safe to play at?
Ultimately, your best bet is to wager at a KYC online gambling site where possible, but platforms that don’t adopt these protocols can still be safe. This is especially true in the case of cryptocurrency casinos, which are advertised for providing anonymity and minimizing intrusive signup requirements.
At ReadWrite, we only pick the best and safest no KYC casinos around. Typically, these entities will still boast 128-bit SSL encryption and licensing from a credible offshore regulator, while they may also be underpinned by secured blockchains or platforms like Telegram.
KYC Compliance
We’ve already touched briefly on the purpose of KYC and the importance of compliance both for casinos and players. Below, we’ve summarized this information while also asking how compliance measures can change depending on your location.
Documents for KYC Check
Often, even KYC casinos will strive to verify your personal data automatically when you sign up for an account. However, they reserve the right to ask for supporting documentation, which must usually be submitted securely online when you’re logged into your account.
As we’ve discussed, documentation can include examples of photo ID (like your passport or driver’s license), evidence of your social security details, or proof of address. Usually, sites will ask for clear copies of your documents, which must include relevant and verifiable information.
International KYC Requirements
Casino KYC requirements can vary depending on your location, as different international licensing bodies have their own unique rules and guidelines.
For players under the jurisdiction of the Malta Gaming Authority, for example, you’ll be required to send proof of your identity when you deposit or withdraw €2,000 into or from your account. Other regulators may only require you to verify your ID or age once, but it’s important to learn more about the variable international guidelines that are relevant to you.
