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Home   /   KYC | Why do betting sites ask for these documents

KYC | Why do betting sites ask for these documents

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If you have played on an online casino or an online sportsbook before you will probably have been asked to complete an account verification process. This process is also known as Know Your Customer (KYC). A lot of online casino or online sportsbook customers question what this process is about. In most cases online casino or sportsbook customers feel operators do this process to make it harder for customers to be able to withdraw winnings.

This article is going to explain why online casinos or sportsbooks actually carry out this process and I will also explain the type of information you need to submit. I will give some general information that applies to all markets but will also speak specifically about Indian players. 

What is KYC/Account Verification?

KYC/Account verification is a process an online casino or sportsbook needs to carry out in order to verify details provided by a customer during registration are accurate. Basically, are you who you said you are when you registered with the online casino or online sportsbook.

What details do you need to verify at an online casino or sportsbook?

The very basic details that an online casino or sportsbook customer need to verify are; Name, Address and proof of payment used to deposit.

This means that you need to submit a document that will match the name and address used during registration. You will also need proof that you own the payment method used to deposit.

Why do operators need to verify my details?

All legal and trustworthy operators are licensed and regulated in order to accept online casino or sportsbook customers. This means that there is a legal entity called a regulator monitoring the operator. If an online casino or sportsbook customer has any issues with an operator they can report this to the regulator who will intervene on their behalf if needed.

As part of this licence operators are legally obliged to carry out the account verification process. This is to ensure that the operator knows who is playing on the online casino or sportsbook. They need to confirm that the customer is of legal age to play and that they are using funds that they own.

When do I have to complete account verification/KYC?

The process for completing account verification/KYC at an online casino or sportsbook can vary depending on the licence the operator holds and the country in question. In relation to Indian players, all online casino or sportsbook customers should verify their name, age, address before being allowed to withdraw.

In some cases online casino or sportsbook customer data may be verified automatically using publically available data. However the standard rule is that when a customer reaches €2000, approx Rs.169270 in deposits/withdrawals they will have to submit official documents. These documents will be used to verify the data that the operator has on file.

Please note, an operator can legally request these documents at anytime they feel appropriate but in most cases they will have a standard practice in place. An online casino or sportsbook will only venture outside of this if they identify a potential risk to the business. This can vary from underage gambling, bonus abuse, potential money laundering or problem gambling.

What documents do I need to submit for account verification/KYC?

Most online casinos or sportsbooks will list the documents that they will accept for account verification on site. Below is the standard list that all online casinos or sportsbooks should accept based on my experience.

1. Proof of ID: Passport, driving licence or national ID card

Please make sure the document being submitted is in date and all four corners are visible. In relation to a driving licence or national ID card, you will need a front and back image of the card.

2. Proof of address: Utility bill or bank statement dated in the last 3 months.

Please make sure all four corners of the document are visible. If you are submitting a bank statement as proof of payment you may need to submit a utility bill as proof of address.

In some cases, online casinos or sportsbook won’t allow you to use the same document twice. In order to confirm if you are submitting the correct documents speak to the online casino or sportsbook to confirm if this is the case. From my experience you can quickly confirm this by speaking to customer service via live chat.

3. Proof of payment: This varies depending on the payment option used at the online casino or sportsbook but I have listed some examples below.

Credit/Debit card: The image needs to show the first 6 and last 4 digits, your name and expiry date. All other digits should be covered for security reasons. The online casino or sportsbook will also need to see the back. Please keep in mind that the last 3 digits of your CVC need to be covered and the card needs to be signed.

Neteller or Skrill: In order to verify an e-wallet submit a screenshot showing the url, email, account number/ID and your name.

Bank Account: Bank Statement or Screenshot from your on-line banking account showing your name and account details. Please ensure all four corners of the document are visible.

How long does it take to verify my account?

The time needed to verify a casino players or sportsbook players account will vary depending on the operator and the processes they have in place for verification. In most cases, once you have submitted the correct documents they should be reviewed within 24 hours. This timeline will likely be posted in the online casino or sportsbook terms and conditions or alternatively you could speak to customer service to confirm the exact timeframe.

Delays will be caused if you are submitting the wrong documents, poor quality images or the details submitted don’t match the registered player details.

What happens if I cannot supply documents to verify my account?

Unfortunately, if the online casino or sportsbook is licensed and regulated, and a player cannot supply the required documents, the account will likely be blocked. This will also mean withdrawals will not be processed. 

What happens if I deposited using a family member or friends bank card?

Licensed and regulated online casinos or betting sites don’t allow customers to use third party cards. If a customer uses a third party card they will be required to submit KYC documents for the person who owned the card. They will also show that they approved the use of the card. In most cases they will receive an official warning about the use of third party cards and the card in question will be blocked in the online casino or sportsbook system.

This same process will apply for any third party payment used by a customer. 

Is there anymore information I might need to submit for the account verification/KYC process?

Depending on the level of activity on the account and the player behavior online casinos or sportsbooks can request customers to complete ‘Enhanced KYC’. This process is usually linked to monitoring problem gambling and potential money laundering.

I will speak about this process separately in another article. 

CONCLUSION

All licensed and regulated online casinos and sportsbooks will carry out the account verification and KYC process. This varies on a per market basis as some countries have their own regulation. In general Indian casinos or sportsbook should be regulated by the Maltease Gaming Authority or Curacao gaming licence.

The account verification process can be a negative experience for some customers but operators don’t want it impact the gaming experience negatively. If you are having issues with the process I would recommend speaking to customer service directly to understand what it is you need to submit.

I would also recommend, that after you complete the registration process with an online casino or sportsbook you submit the verification documents as soon as possible. This will help avoid any future delays when you want to withdraw winnings after playing your favourite online casino games. 

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