Cryptocurrency

Account Verification and Crypto Casino KYC – Complete Guide

Published

3 years ago

August 30, 2022

The online casino industry has snowballed against all odds. It’s no longer a secret that the industry is fast-growing, with experts foreseeing a $94.4 billion worth by 2024. The industry has successfully grown since its first gambling software appeared on the scene decades ago. Today, several innovations have sustained its spread across the globe.

The Know Your Customer (KYC) procedure is a common trend across traditional fiat money gambling sites. Moreover, some crypto casinos apply such safety procedures despite claims of anonymity. The internet is a wonder. You’ll get to see the good, bad, and terrible side of it. Is KYC needed? What are the downsides to this process? Perhaps it’s a process to keep gamblers safe? This review explains everything regarding the crypto casino KYC process to help you always select the best crypto casinos.

Know Your Customer Verification: What is it?

The Know Your Customer (KYC) Verification is a procedure adopted by gambling sites to eliminate financial crimes. The process is also called Enhanced Due Diligence and is mandatory for online casinos. Essentially, the procedure aims to verify players’ identities and establish a connection between the information provided during registration and the legal government documents of the player.

Specific documents such as government-issued ID, bank statements, credit/debit card information, and proof of address are required for a KYC procedure. This process can be done immediately after registering, but it is required before a player can initiate a withdrawal. What’s more, best crypto casinos like those found on cryptocasinos.net carry out the process once. Therefore, gambling sites do not require a KYC now and then. The only exception is when there is a change in the player’s payment choice.

Why is KYC Verification Phase Necessary?

KYC verification is a means to create a safe and responsible gambling space. For instance, it prevents underage individuals from exploring bitcoin casinos. And problem gamblers won’t be able to open multiple accounts. Here are more spectacular reasons why some crypto casinos subscribe to this process:

Preventing Fraudulent Practices

The information required for a KYC process contains sufficient details about the player and his means of income. This information can be leveraged by relevant authorities if there are possible scam complaints in the future.

Anti-Money Laundering (AML)

One of the primary reasons for the KYC checks is the potential threat of money laundering. BTC casinos are under scrutiny by regulators to curb such excesses within the industry. In a bid to clean dirty money, money launderers use online gambling sites for such activities. The KYC checkmates the source of income of the potential player and ensures it is not illegal or unknown.

Proving Source of Income

With a complete KYC check, the origin of funds would be ascertained. The Proof of Sources of Funds is another document required during such procedures on the best crypto casinos, covering withdrawals and deposits of the potential player. Btc casinos can ensure your online safety, fight fraud, and they can avoid being labelled or linked to financial crimes.

Avoiding Funnels for Nefarious Activities Such as Terrorist or Crime-Based Cartels

Data collected during the KYC checks can be helpful when tracking activities connected with nefarious activities such as crime-based operations or terrorism. The financial organization can be corporate with state security to track, identify and cancel such operations.

Self-Exclusion Tracking

Know Your Customer is ideal for problem gamblers. The best bitcoin casinos can easily protect vulnerable players using the information provided. If a player opts for self-exclusion, the relevant organization can stop them from opening another account with another operator, thereby restricting their access till the self-exclusion is over.

What Documents are Required for KYC?

The KYC verification process requires certain unique documents. These documents would be uploaded to the crypto casino site to prove your identity, source of income, and location. The process takes between a few minutes to a full working day. Here are some of the documents needed:

Photo ID

Bitcoin casinos require players to upload a photo ID. You can scan or take photos of the document using a smartphone device. This photo ID proves your identity. A government-issued ID – a driver’s license, national identity document, or passport, is requested for this phase. Best crypto casinos may request additional documents like your birth certificate.

Proof of Address

During registration, players fill in their addresses. The document upload would have the address you provided to prove you live there. The proof of address helps the crypto casino understand the jurisdiction and what gambling laws and regulations are administered in your location. Utility bills (gas, water, electricity) or a bank statement having your full address are unique documents that can be used for proof of address. What’s more, these documents must be within the last three months.

Proof of Funds

The best crypto casinos require proof of funds. This is to verify your means of income and to ensure that the bank account or e-wallet provided is yours. When a player cannot provide such documents, the means of income is questionable, and such an individual could be involved in a financial crime. Documents needed for the proof of funds are a picture of your e-wallet or credit/debit card front page, job payslip, bank statement, etc.

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Crypto Casinos? Do They Require KYC?

The KYC verification phase can sometimes be skipped. It depends on the preferred crypto casino operator and its operations’ rules. Most licensing authorities demand the verification of each user. If you love your anonymity, you can opt to get BTC casinos that bypass this phase.

However, demanding verification is a means the bitcoin casino uses to protect its players. Most gamblers see this as a sign of reliability, responsibility and security and would not hit the sign-up button if this phase is skipped. Moreover, it shows that a preferred bitcoin casino would comply with financial legislation.

KYC vs. No KYC Crypto Casinos: Pros and Cons

Regardless of your preference, KYC and no KYC crypto casino have upsides and downsides. Here, we highlight some basic pros and cons of each gambling brand.

Pros of KYC casinos:

Proves credibility and reliability of the crypto casino.
Once done, allows withdrawals/deposits using the same payment method
Prevention of fraudulent activities, international crime & money laundering
Increased protection for problem gamblers

Cons of KYC casinos:

A fresh KYC check is needed when a new payment option is added
Delays in withdrawals

Pros of No KYC Casinos:

Absolute anonymity
No delays in withdrawing winnings
Players can use any payment option of their choosing
Freedom to access gambling products and services from restricted areas

Cons of No KYC casinos:

Sign of potentially joining a scam operator
Problem gamblers can skip self-exclusion

Let’s Sum It up

The KYC verification phase is an excellent means of curbing many fraudulent activities in the gambling space. However, it is a phase that can be skipped and would not undermine your security. Players love to explore and enjoy the best crypto casinos, still keeping their digital footprints away from prying eyes.

Regardless of what your preference is, it is mandatory to gamble responsibly. Do due diligence on the casino operator you are interested in becoming a part of. Ensure they tick every box of making a good operator. Best of Luck!

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Cryptocurrency

Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development

Published

1 month ago

March 7, 2025

George Miller

Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development

Bitline, the only provider for casino chip access directly from cryptocurrency, has announced its first major collaboration in the U.S. casino market, teaming up with Choctaw Casinos & Resorts through its collaboration with Everi’s CashClub, the leading financial access services suit for casino payments. This collaboration introduces cryptocurrency and digital assets as a new source of liquidity for casino patrons and marks the first time that such a functionality has been enabled within the American gaming industry.

Leveraging Everi’s CashClub’s comprehensive payment infrastructure, Bitline’s solution is able to efficiently board, screen and verify patrons looking to leverage their digital assets whilst also allowing patrons to move screened assets into custody within minutes. Bitline’s integration with Everi’s CashClub, will enable the technology for the benefit of Choctaw Casinos & Resorts, and is the first time that such a functionality has been possible in the U.S. regulated casino market.

The collaboration works to cater to the growing demand for greater cryptocurrency and digital asset integration within the casino industry. The collaboration between Bitline and Everi’s CashClub forms a transferable blueprint that offers casino operators and their patrons an alternative way to manage funds, access liquidity, and leverage the benefits of cryptocurrency and other digital assets.

This milestone reflects a strategic shift in how casino operators view and manage financial interactions with their guests. The introduction of cryptocurrency as a liquidity solution provides additional options for guests and lays the foundation for Choctaw Casinos & Resorts as it looks to the future of gaming sector finance, setting a new standard in financial accessibility and convenience.

“Working with Choctaw Casinos & Resorts and Everi’s CashClub to make this a reality is a historical moment for both the casino and blockchain industries. Bitline was conceptualized to advance the gaming sector and offer a wider variety of financial options for the casino industry,” said Richard Jones, CEO at Bitline. “We’re entering an era where digital assets can fundamentally enhance the gaming experience, providing casino operators with a future-ready financial framework that can expand and evolve as the industry does. This collaboration is just the beginning of our vision to modernize casino payment capabilities on a global scale.”

“We are excited to be the first casino in North America to offer our guests another way to play,” said Thomas McDonald, Senior Director of Cage and Credit at Choctaw Casinos & Resorts. “Through our long-term relationship with Everi, a leader in fintech solutions, we will continue to invest in innovative offerings that provide the discerning gaming VIP access to funds in a safe and secure manner.”

The Choctaw Casinos & Resorts integration represents only the first phase of Bitline’s broader mission to bring cryptocurrency solutions to casinos and casino patrons worldwide. As cryptocurrency and digital assets continue to gain traction in the gaming sector, Bitline’s easy to integrate and patented payment model stands poised to become a key player in transforming gaming finance. Future plans include expanding services across other major casinos and gaming markets, both domestically and internationally, establishing cryptocurrency as a new standard feature of the gaming experience.

The solution is to be formally rolled out on March 7, 2025, with the first transaction taking place at Choctaw’s Durant, Oklahoma, location.

Cryptocurrency

Rivalry Adds $TRUMP Meme Coin as Crypto Payment Method

Published

3 months ago

January 20, 2025

Adrienn Sarkany

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY)
(OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announced it has added U.S. President-elect Donald Trump’s official Solana cryptocurrency ‘$TRUMP’ as an accepted payment method.

Ahead of the U.S. Presidential Inauguration on January 20th, Rivalry users are now able to deposit and wager using $TRUMP, a cryptocurrency on the Solana blockchain which currently has a fully diluted value of over USD $30 billion. The addition of $TRUMP as a payment method on Rivalry comes less than 24 hours after the President-elect released the cryptocurrency on Friday evening.

”Meme coins are attention monetized, and the release of $TRUMP just days before an Inauguration is a quintessential internet and crypto culture-driven moment which enabled it to eclipse $30 billion in fully diluted value shortly after its debut” said Steven Salz, Co-Founder and CEO of Rivalry. “Rapidly deploying $TRUMP as a deposit method in less than 24 hours is a testament to our ability to identify and lean into these universal cultural moments, layer it into our core crypto gambling experience, and deliver first-of-its-kind experiences to our users.”

Additionally, Rivalry customers wagering on-site with $TRUMP will receive exclusive rewards through February 1, 2025 in recognition of the upcoming Presidential Inauguration, including multiplying the amount of NUTZ–the Company’s native token–players earn on every bet by 20x, a reflection of the inauguration on Monday, January 20, 2025.

With the acceptance of $TRUMP, along with a number of other major cryptocurrencies as part of Rivalry’s crypto-first approach, the Company has ongoing treasury holdings of various major cryptocurrencies and meme coins that it accepts as a deposit option. The Company will continue to add additional cryptocurrencies as needed to support its player base and continual expansion into the crypto gambling segment.

$TRUMP as a payment method will be available to Rivalry users in jurisdictions which apply to the Company’s Isle of Man license only.

Cryptocurrency

SCCG Management Announces Sponsorship Partnership with Hoppa! Card

Published

9 months ago

August 1, 2024

Niji Narayan

SCCG Management, a leading advisory firm in the global gaming industry, has announced a sponsorship partnership with Hoppa! Card, a pioneer in crypto payments and banking solutions. This collaboration is set to revolutionize the payment landscape for the gambling industry with a strong focus on crypto technology, leveraging SCCG’s extensive ecosystem of over 120+ client partners and its global presence across all major regions.

Through this partnership, SCCG Management will support Hoppa! Card in delivering their innovative crypto payment and banking solutions to a wider audience within the gaming industry. The synergy between SCCG’s expansive network of client partners and Hoppa! Card’s cutting-edge financial technology aims to enhance the efficiency and security of managing complex payment needs in the gambling sector.

Hoppa! Card’s flagship products, including the Exclusive Global Soft KYC High Limit Crypto Offramp VISA Card and the Unique Payment Gateway, are designed to meet the most challenging payment requirements. The VISA Card offers high limits and the highest possible privacy standards with anonymous cards, ensuring global accessibility with both virtual and physical card options. The Payment Gateway provides seamless processing for various crypto and fiat transactions, eliminating chargebacks and non-acceptance of cards, while catering to all gaming licenses and jurisdictions.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Partnering with Hoppa Card allows us to provide our clients, as well as our global network of operators and platform providers, with crypto-focused payment solutions that are crucial in today’s fast-evolving gaming industry. Their innovative products align perfectly with our mission to drive strategic growth and maximize revenue for our partners.”

Igor Lavrih, CEO of Hoppa Card, said: “We are excited to kick off the partnership with SCCG, merging our payments expertise with their deep market insights to explore new opportunities and drive innovation. We look forward to the synergies our partnership with SCCG will bring forward, delivering unique payment solutions in the gaming industry to an array of growing and established businesses.”