Casino and betting operators are constantly under increasing pressure to prevent fraud, money laundering, and underage gambling while maintaining a positive user experience that doesn’t discourage players or cause them to migrate to competitors. It may seem challenging to achieve these objectives simultaneously with so many challenges to overcome. The KYC process can make it simple. 

KYC policy provides the added benefit of increasing consumer confidence in your brand and detecting anomalies that could indicate fraudulent activity on your site. A consistent and strong KYC process is essential to any business in the digital age. But this is especially true for companies that handle large sums of money, such as those in the gambling industry.

Losing the player to fraud

In the gambling industry, players who aren’t who they say they are, can be extremely costly. Online gambling businesses need to fully understand the dangers of identity theft and fraud to prevent it properly. 

Identity theft, credential stuffing, account takeover, account sharing—the list of ways a fraudster can steal your revenue continues to grow. But who’s really to blame? 

You are.

If you’re a gambling business owner, then you own the anti-fraud strategy for your company. And if you’re losing players to fraudsters because your online KYC process isn’t up to snuff, then it’s time for a change.


Money laundering and terrorist funding

AML compliance is an essential part of helping to protect your business from potential risks. By quickly identifying and assessing threats associated with new and existing customers, you can help keep your business compliant and safe. Having a strong AML compliance program in place can also help you avoid costly fines and penalties. 

Losing players to compliance

In an online gambling company, there are two key people: 

  1. the customer
  2. the regulator

Your business needs to meet the regulatory requirements of your country or jurisdiction, or you’ll face proper consequences. This is where KYC comes into play: KYC checks are required for compliance with local anti-money laundering regulations, so your business needs to have them in place if you want to stay afloat.

Double or nothing with user experience

Don’t forget the player’s experience. All the requirements mentioned above are important and must be followed, but your client should not feel like they are being interrogated. A great KYC solution should be intuitive and easy to use, focusing on UX. This will also help keep your customers happy as they will not face delays or potential ID verification rejections that can ruin their gambling experience.

KYC platform for global customer onboarding

Decrease onboarding costs up to 46% Improve pass rates up to 26% Complete verifications in less than 15s.

KYC is not just about age verification

Know Your Customer isn’t just about age verification. While important, age verification is only one step. Another step in authenticating a person is ensuring they aren’t on any watch lists or otherwise involved with people who could cause your company legal problems down the line. The more you know about a customer, the more authentic they become in your system.

This is why a successful user verification process seamlessly prevents fraud, improves the player experience, and drives a company’s bottom line.

When you implement customer identity verification into your customer journey, you’re more likely to retain customers and build trusted relationships. The customer and the business both win.

Here are the benefits of a successful user verification process with Fully-Verified:

  • Improve your customer experience.
  • Prevent fraud.
  • Stay compliant with regulations. 
  • Reduce operational costs. 
  • Increase revenue. 
  • Build trust in your brand

Prevent account takeovers

Users can log into someone else’s account without permission or authorization to steal funds or play under false identities. You can prevent this only when you have accurate information about who is using your site and how it is used, which means verifying their identity is critical. Fully Verified can help you achieve this goal with our Live-Verify solution. Furthermore, this will help prevent bots from playing on your platform, which can lead to additional losses for you and an unfair advantage for players. Ensuring accurate information of players’ activity maintains security and complies with regulators’ requirements for record-keeping.

Prevent reputation damage

Reputation is the most valuable capital in the gambling industry. A negative experience for one customer can easily be spread to thousands of people via social media and smartphones. So, how do you prevent reputation damage? The answer is simple: identity verification. KYC procedures don’t need to be a costly or complicated endeavor if you implement automated processes that are quick and easy for your business and your customers to use. Fully Verified offers a Self-Verify solution that enables customers to verify their identity on their own. The Self-verify system guides users through the process and records it so that a trained agent can double-check it. When you choose the right identity verification service provider, you can streamline KYC checks and mitigate risks while reducing friction in customer onboarding.

KYC ensures that only authorized customers from non-blacklisted countries are allowed to open an account on your gambling platform and deposit money or withdraw it. Make sure only individuals who are legally allowed to play access your services, such as minors, non-residents, or anyone with a gambling ban. Fully Verified can prevent unauthorized users from accessing your services by performing sanctions list checks and confirming users’ residence addresses. This way, you can reduce financial losses caused by fraud and help avoid future problems with regulators.

KYC platform for global customer onboarding

Decrease onboarding costs up to 46% Improve pass rates up to 26% Complete verifications in less than 15s.

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Fully-Verified was created as answer to its founders collectively losing over $150 000 to various types of fraud in their eCommerce businesses.