Home Blog Why Do Casino Operators Ask About Your Finances?

Why Do Casino Operators Ask About Your Finances?

Playing at a casino should be simple and easy. In fact, playing at an online casino is designed to be much easier than walking into a land-based one. However, a few requirements may tempt a player to take a few steps back or rethink gambling online if their finances do not add up. One of those online casinos’ requirements is that players provide proof to show that their finances are legitimate.

In Britain, for instance, the Gambling Commission declared that all its licensed casinos would be required from 7 May 2019 to check each new player’s name, address, and date of birth before any gambling operation is underway. This even restricts no deposit rewards or other offers being utilized until this early check is successful.

KYC is started with data provided by the player when opening an account in the sign-up form. Personal information can be combined with data from various databases to check the identity of the player. This is also achieved through the services of some reputable third party processors. Passports, driving licenses, national ID cards, and household bills are the most common documents helping casinos complete the initial KYC checks. The details can then be compared with the registration form by a dedicated team.

Furthermore, in many online casinos, proof of your finances is a part of the KYC requirement. Thus, if you bet with a credit and are unable to provide the requirements, you may be unable to make any withdrawal of your winnings. In this article, you will find out a few reasons why online casino operators ask about your finances.

Providing Responsible Gambling Politics

Responsible gambling is a term you must be familiar with if you have been playing at an online casino for some time. Some individuals assume that responsible gambling only has to do with preventing under-age gambling and self-exclusion from gambling activities. However, responsible gambling also involves preventing criminal activities like money laundering and helping customers avoid falling into financial difficulties.

Gambling commissions such as the UKGC have made it mandatory for casino operators to know their customers (KYC). This ensures that all online casinos licensed with the gambling commission provide their customers with a safe gambling environment free of crime.

To prevent any form of fraudulent activity such as money laundering, gambling companies have to use a range of techniques. One of the techniques involves requesting documents that will help casinos profile their customers. Thus, it becomes easy to find out if a customer gambles with money that they have.

What Checks May You Face?

So, what checks might a player face when it is time to verify their finances? There are quite a few. It is normal that further clarification is subsequently required. According to the UK Gambling Commission’s License Condition 17, before permitting a player to deposit funds, licensees must inform such a customer what kind of identity documents or other useful information they may need to provide. For your financial background verification, below are the checks that you may face:

Bank Statements

It is not uncommon for an online casino to request your bank statement during the KYC registration process. Bank statements are not easy to give away, as not every player will be comfortable revealing such personal information. However, the main reason why casinos request your bank statement is to help check that your source of wealth is not fraudulent.

This is also requested as part of a gambling platform’s anti-money laundering checks. Before now, there have been cases where players used online casinos as a medium to launder funds. It has become easy for such kinds of players to be fished out and handed to the relevant authorities.

Casinos that are found guilty of allowing people to play with fraudulent funds will be punished by the regulatory bodies under which they are licensed.

Income Patterns

Besides requesting your bank statements and studying them, it is not rare for online gambling companies to request more details. The information they request will often point out the possibility of irregular income patterns in your account, like a pending house sale.

If any of such challenges are noticed, the casino will know whether or not you can proceed to play with them or not.


Please enter your comment!
Please enter your name here


How to Stop Getting Banned on Facebook

Facebook is banning ad accounts left and right. Most of the time, it’s for no particular reason. Sometimes advertisers are...

KissAnime – Watch Free Anime, Best Alternatives [2021 Update]

KissAnime not working? You're in the right place to find KissAnime alternative sites as well as some working...

No One Is Safe From the Data Breach Epidemic

From phishing scams to ransomware attacks, threats to your data have been rapidly rising. This doesn’t come as a...

Marketing Your Personal Business in 2021 – Quick Tips

Got some more time on your hands in , and want to start pursuing an online business strategy? Perhaps...

How to Download Diablo Immortal on PC for Free

Diablo Immortal is one of those games which don’t need any introduction at all. If we talk about 2021,...

The Best Safer Gambling Tools At Online Casinos

Although playing at online casinos can be incredibly fun, it can be easy to develop gambling-related harm from chasing...

How to Hackproof Your Mac

The number of MacBook users is rapidly increasing globally. Many are recognizing the benefits of using MacBooks both at...

The Rise of Virtual Gambling

How to quench your thirst for excitement while staying at home? Of course, by playing innovative games at the...

Google’s Plan to End Third-Party Cookies [FLoC]

Google plans to end Chrome’s support of third-party cookies by 2022. FLoC is one of the solutions proposed to...

Why Is Xfinity Cable So Slow?

Nothing annoys a consumer more than a slow internet connection, especially if you are dealing with an urgent demand....