As betting websites are getting increasingly mindful of verifications, we explore the reasons that drive the trend.
Identity verifications are a staple at any online betting site conforming to the industry rules and regulations. You must be wondering why betting web portals are fixated with verifications while their brick and mortar counterparts usually skip such requisites. The answer is simple – to establish the age and identity of the individual and prevent a self-excluded person from betting. Let’s dig deep to get a better understanding of why verifications are so imperative.
Betting is an age-specific activity, reserved only for adults. The laws of the land prohibit minors to take up gambling in any form, leaving online betting sites with a statutory responsibility to discourage normalization of betting among underaged. Any online betting site asks for an age proof at the time of account creation, which you have to provide within 72 hours. Failing which, you risk an account rejection or face difficulty in withdrawing your deposits and winnings.
Deterring self-excluded individuals:
Individuals, in an effort to stay away from gambling, often self-exclude themselves at online casinos. However, the majority of such individuals get back to their gambling ways sooner or later. Here too, the betting sites have their task cut out – to collect identity proofs from the individual and run a check on the database to determine whether he/she is a self-excluder or not.
Preventing criminal proceeds:
Criminals often funnel a significant part of their ill-gotten gains into betting to make it legitimate. As the betting websites are waking up to this fact, asking for verifications is the way to go for them. If the betting website asks you to produce photo ID, payment ID and residence proof for verification purposes, it does not doubt your credentials. This is rather a routine work to keep betting clean.
Statutory requirements are prime reasons for verification but not the only ones. Websites also require verifications to identify separate accounts a bettor might be using to access more promotions and bonuses, which are often restricted to one per customer.