The KYC process is essential for punters and sportsbooks. KYC means either Know Your Customer or Know Your Client. This is a mandatory process of verifying your identity when signing up at a sportsbook. The process might also be repeated over time for various reasons.
Sportsbooks identify their customers and confirm their identity thanks to the KYC process. In this article, we’ll discuss everything related to KYC, including how to do KYC, why it is important, and why you should go through it. Keep reading and we will tell you all you need to know about the KYC process.
As we’ve already mentioned, KYC is the process of identifying and verifying the customer, in other words, confirming that you truly are the person you’re claiming to be. Different operators might have different requirements regarding KYC. Usually, the documents you send in will be received by the customer support team. The customer support team might ask you to send an email or ask you to upload the documents through the sportsbook’s live chat feature.
The process for KYC verification might require you to provide certain official documents and some type of photo face verification. The documentation might include utility bills as proof of address, ID card verification, such as a passport, and more. Face verification may be used to confirm your identity. This is the step-by-step instruction on how to do KYC:
It’s important to note that account verification isn’t the same as KYC verification – they’re two completely different things. In this paragraph, we’ll try to explain the difference in an easy way.
Account verification is the finishing part of the registration process when you receive an email or SMS to verify your contact information. However, verifying your contact information is one thing, and verifying your identity is another; that’s where KYC verification comes in.
The KYC process aims to verify your identity and your home address. That’s why you might have to provide things such as utility bills and go through face verification. Utility bills serve as proof of your home address while providing a current photo ID confirms your identity. Both KYC verification and account verification are essential aspects of playing at an online sportsbook.
We’ve already discussed how to do KYC, but another important question that might arise is when should you go through the process. The answer is as soon as possible since sportsbooks usually take this process seriously. Some of the sportsbooks might prevent you from withdrawing your winnings before you’ve finished the KYC because the bookie needs to confirm your identity first. Other sportsbooks might use different restrictions until you’re done with the KYC process.
Some sportsbooks might not ask you to do the KYC right after you’ve created an account. However, they’ll probably ask for the necessary documents once a certain amount of money has been requested from your account. One way or another, the safest and most convenient route is to do the KYC as soon as you can. You may not want to do it immediately after registering, but we suggest not waiting for too long.
All in all, the Know Your Customer process is essential for sportsbooks. That’s why it’s the best course to finish the KYC as soon as you can. That way, your betting experience won’t be interrupted and you’ll be able to withdraw your funds whenever you can without any restrictions. We highly recommend doing the KYC as soon as you’ve registered at a sportsbook and after you’ve finished verifying your account.
No, KYC isn’t the same as account verification. KYC refers to the verification process of your identity and address, whereas account verification verifies your contact information. The KYC process involves providing official documents to confirm your identity and your address.
KYC means Know Your Customer or Know Your Client and is a common verifying process and online sportsbooks. Either way, It refers to the process of verifying your identity. KYC is essential for sportsbooks as they need to confirm you’re the person you claim to be before you can withdraw your winnings.
A sportsbook might require several official documents for KYC. That can be your ID card, driver’s license, or passport to confirm your identity. Apart from confirming your identity, the sportsbook will need to verify your address. For that, the sportsbook may ask for a copy of your utility bills.
We suggest going through the KYC as soon as possible because the sportsbook might apply some restrictions otherwise. For example, a sportsbook might prevent you from taking out your money from your betting account unless you’ve finished the KYC process.
The timing of the process depends on the operator. Some sportsbooks take less than a day, while others might need about a week to finish the process. The majority of sportsbooks can confirm your identity and home address in a few business days.