KYC (Know Your Customer) requests are one of the main reasons holding people back from opening an online betting account with a bookmaker. Handing over personal information to a third party, especially a betting site, is always a risky business.
Fortunately, there are online venues where you can sign up for an account without verification. Welcome to the new era of gaming, using betting sites without verification requirements. This post unlocks everything you need to know about betting on your favorite events without the need to hand over your ID or proof of address for KYC.
Why Do Casinos and Bookmakers Verify My Identity?
Bookmakers and online casinos require players to complete “Know Your Customer” procedures to remain in compliance with regulations surrounding gaming and financial transactions.
Essentially they need the company to comply to prove they are not letting money launderers use the platform. If they get caught assisting money launders, they are in big trouble.
Most online bookmakers with offices in London or New York will require players to comply with KYC guidelines. Many of them won’t tell you about it at first. They let you set up your account, make a deposit, and then ask you for KYC information when you make a withdrawal from your account.
Avoid this frustration by signing up with a no verification bookmaker or casino. You don’t have to bother with any KYC requests, and no interruption from government overreach in your finances.
Do I Need an ID to Play at a No Verification Bookmaker?
No, a no-verification bookmaker doesn’t need you to set up KYC information on your account before making a withdrawal. Organizations in the US and UK don’t require you to send through KYC information for withdrawals under specific amounts.
Some bookies and casinos exist strictly offshore, and they don’t have to comply with these KYC regulations like other US and UK-based companies. As a result, you can bet any amount you like, and there’s no need to provide KYC to withdraw.
Casino payment methods such as Interac, Trustly, Bankid, and iDeal allow seamless withdrawals and deposits without the need to go through the traditional financial system. More casinos are also starting to work with Bitcoin and Ethereum as well.
What are the Benefits of Playing at a Bookmaker with No Verification Process?
Playing with a no verification bookmaker or casino has plenty of advantages. First, you don’t have to hand over personal information like your ID that hackers can steal in a security breach.
You deposit and withdraw using your credit card, and that’s all the information the authorities need when tracking smaller transactions into your account. With no verification bookmakers and casinos, you don’t have to worry about your data falling into the wrong hands.
Are No Verification Bookmakers Legal?
Yes, most no verification bookmakers are entirely legal. They operate within legal limitations or outside of them, depending on their head-office location. You can’t get in trouble with the authorities if you decide to open an account with a no verifications betting platform or casino.