Over the years, responsible gambling has become increasingly important to the UK Gambling Commission and operators alike, and the KYC process is one of the most effective in keeping both players and operators safe during their online transactions.
What is KYC?
KYC stands for ‘know your customer’ and is a process that helps UK casino sites determine their players’ identities.
With the help of this particular process, casino sites are able to gain access personal details like players’ financial information to make sure that there won’t be any issues with finances in the future.
But that’s not all. This process also makes transactions happen much quicker than normal transactions.
The KYC process ensures the prevention of some of the following points:
- Identity theft
- Underage gambling
- Money laundering
Casino sites licenced and regulated by the UK Gambling Commission will most likely have a KYC process implemented.
KYC payment methods
More and more payment methods are collaborating with banks to ensure transparency between operators and players by using the KYC identity vertification process.
Why is KYC an advantage?
KYC is an extreme advantage because it protects operators from running into issues with players who can’t afford to play or who are at risk of developing gamnbling problems, and it protects players from developing potentially damaging gameplay habits and running into debt.
KYC (Know Your Customer) is slowly becoming a process that most UK casino sites are using to make sure that transactions between them and their players are as transparent as possible.
The KYC method protects you as the casino player by preventing you from developing detrimental gambling habits and makes transactions much quicker.