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.


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