Compliance Updates
Everything you wanted to know about KYC but were afraid to ask!
Starting your gambling career, you must fulfill some specific conditions when you want to open a personal account. Knowing about this basic requirement for players, you might wonder what’s so special about KYC. In this article, you will get to know everything about casino KYC, such as its meaning, the required documents, and why it is important for your gaming experience.
What is KYC?
KYC stands for “Know Your Customer.” It’s a process that banks and financial institutions use to verify the identity of their customers to protect themselves from fraud. The process usually involves casino online requesting personal information from customers, such as their name, birthdate, address, email, and phone number. It is deemed the new regulatory checks and balances for the online casino industry.
Why do casinos need KYC?
Casinos are heavily regulated by governments, especially in Portugal, where the regulations require casinos to perform KYC on every single customer account opened with them. This prevents people from using phony identities or bank accounts to try to launder money through the casino online portugal system. Casinos must also report any suspicious activity to law enforcement agencies, including any suspicious transactions made by customers on their accounts. These also ensure responsible staking from gamers.
What documents are required for KYC verification?
To verify your identity, you will need to provide some documents, your photograph and/or fingerprints.
You can use the information from your passport or ID card as proof of identity (for example, your name, date of birth, and address). Other documents that may be accepted include:
- A utility bill containing your name, address, and telephone number.
- A government-issued document with a photo (such as a driver’s license).
- A bank statement that shows recent transactions or an account statement from a financial institution with details such as name and address.
What happens with my data if I pass KYC in an online casino?
If you pass KYC, the online casino will collect and store your personal data. They’ll use it to verify that your account is yours—that it’s not being used by someone else. This helps them keep their customers safe from fraud and cheating.
Conclusion
KYC, as a tool, forces casinos to give out fair, personalized services to their customers. KYC is vital for the online casino business. With a little bit of due diligence, patience, and a lot of cooperation with your casino customer service team, you should be able to navigate this process successfully. And remember: if you have any questions along the way, don’t take the word of anyone but an actual representative. Instead, try reaching out online or calling customer service. And when in doubt, try asking again.
Compliance Updates
Licenses received: RockApp strengthens its position in the US iGaming market
RockApp, a leading global media buying agency, proudly announces that it has obtained official licenses in all regulated US states, allowing it to promote iGaming services nationwide, including Colorado, Indiana, Massachusetts, Michigan, New Jersey, Pennsylvania, and West Virginia. With these licenses, RockApp is now authorized to operate in all regulated US states, except for New York. This achievement comes amidst tightening regulatory standards, underscoring the agency’s commitment to compliance and excellence in performance marketing. The move positions RockApp as a trusted partner for iGaming companies looking to expand their reach in one of the world’s largest and fastest-growing markets.
These developments enable the agency to work with prominent industry players, including established American brands, and deliver targeted advertising campaigns with measurable results. By securing a legal presence in all regulated states, RockApp reinforces its reputation as a reliable and professional partner, capable of navigating complex regulatory landscapes.
This milestone is part of RockApp’s broader strategy to strengthen its position as a global leader in the media buying industry. Over the past year, the company has demonstrated impressive growth, achieving a 440% increase in customer acquisition, a 300% boost in turnover, and a record-breaking 4,000 first-time deposits achieved in a single day. These achievements reflect RockApp’s dedication to innovation, strategic planning, and delivering exceptional value to its clients.
“This is a pivotal moment for RockApp,” said Niko Belikov, Founder at RockApp. “Securing licenses in the US not only opens new doors for us but also allows us to bring our expertise in iGaming promotion to a market that values professionalism and results. We’re excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”
Canada
BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity
BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.
The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.
This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.
“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.
The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.
This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.
Compliance Updates
Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License
Media Troopers, a leading digital marketing agency specializing in sports betting and iGaming, has marked its two-year anniversary in promoting sports betting in Colorado as a vendor licensed by the state.
Shmulik Segal, CEO of Media Troopers said: “We are very proud of this renewal, as it marks a milestone of two successful years of growth and commitment to the State of Colorado.”
Colorado’s Division of Gaming has renewed Media Troopers’ vendor license, allowing the company to promote sports betting offers for its customers until January 2027.
“Receiving a new license and debuting in a state is always exciting, but it is where the hard work begins,” Segal added. “So I am proud to celebrate two successful years of hard work and dedication in promoting safe and reponsible gaming for our Colorado partners such as BetMGM, bet365, and BetFanatics.”
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