If you enjoy playing slots or other casino games online, you have probably heard the letter KYC being thrown around more than once. I know it can feel a bit overwhelming at first, especially if you are new to the industry, but don’t worry, I’m about to guide you through the whole thing.
In the gambling world, KYC stands for ‘Know Your Customer‘ and these checks are crucial in order to ensure that players are dealing with a safe and fair gaming environment.
A Legal Requirement
No matter how annoying some of you find the process, the KYC checks are a legal requirement for all gambling platforms, designed to prevent identity theft, fraud, and money laundering.
Some of the things you might need to provide
Why Is KYC Required?
There are a lot of reasons for performing KYC checks. One of them is because it helps casinos get a better idea of their players in order to prevent fraud, underage gambling as well as authenticity.
Then there’s the important aspect of doing whatever is necessary to prevent money laundering and anything related to financial crimes.
Financial institutions have to constantly prove that they are not a part of any type of illegal financial misconduct or in any way encouraging such behavior. Making sure they are carrying out the necessary KYC checks is therefore extremely important.
Making Sure You Are of Legal Age
Making your way onto the casino floor and taking a seat at a Blackjack table or by a slot machine in Las Vegas or at any land based casino is a definite No-No if you are not of legal age. This leads to many underage players believing it is easier to “sneak” in online. Thanks to the KYC checks, an online casino is not the type of safe zone you would think.
Once again, yes, having to deal with the process may seem intrusive but try to remember that they are there to protect not only the casino, but also you and your money.
KYC at JustBit
What Casinos Need From You
The majority of casinos (not all) will be asking you to provide certain pieces of information when you sign up to play on their platform. Others will ask for it later before you are allowed to make a withdrawal. The information they are looking for could include:
- Your Full Name
- Date of Birth
- Current Address
Lack of Trust
Unfortunately not everyone is trustworthy, which is why you may also be asked to provide proof of these details, such as a copy of your passport or a utility bill. Casinos can’t afford to just take your word for it and this is their way of ensuring that you are who you say you are and live in the country you say you do.
Different casinos have different withdrawal limits before they need to verify all these things about you. If this is a big deal for you, I recommend doing your research before signing up at a new casino.
Here’s a screenshot from BitStarz
How Long Does the KYC Process Take?
There’s no definite answer to this question as it will vary between casinos. However, it also depends on what you are asked to provide and how long it will take to verify your identity. For example, if you only have to provide the basics, it will usually be quick to check electronically. If you need to provide documents, this may take longer.
The information in the screenshot above comes from BitStarz and as you can see they usually get it done within 1 hour.
Keep in mind that all documents that you provide have to meet the criterias given or you will be asked to send new ones. Believe it or not, casinos don’t give you problems because they feel like it and want to mess with you. It is in the best interest of both parties to make the process as smooth as possible.
Don’t Snooze and Lose
Many casinos will sometimes reach out via the phone connected to your account if they need to verify something further. Until your account is fully verified, any withdrawals may be terminated.
Normally, if the casino is unable to reach you (by email or phone) within two weeks from the date of your withdrawal request, your account could be locked as a result of failing the KYC procedure.
It Is Your Responsibility
To ensure that all documents as a part of the KYC process are genuineI is the responsibility of the player. Faked or fraudulent documents provided may result in a confiscation of deposits and potential winnings of the player.
In other words, you have nothing to gain from trying to trick the casino and you are taking a big risk doing so.
Find Your Favorite Casino
As mentioned, the KYC requirements will vary from one casino to another. While some are strict, others couldn’t care less about who you are. If you want to find out who’s who, take a look at our list of favorite crypto casinos as there will be information available.
Good luck!
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