It’s vitally important that online casinos assure that you are in fact who you say you are when you are opening an account with them. For instance, they must be certain that the person opening the new account is in fact of legal age to gamble in New Jersey or other US states with legal online casinos. Allowing underage gambling is a sure fire way for an online casino to put their license in jeopardy.
Why Online Casinos Require Identity Verification: The Importance of KYC
Online casinos employ a verification system that is called Know Your Customer. This process involves collecting your personal information during the signup process, factors such as your name, home address, email address and date of birth.
This process is designed to assure that the online casino websites is meeting all the necessary legal requirements, as well as working to prevent fraud and to ensure a safe gaming environment for everyone. It can also help to detect activity such as money laundering and can even aid in identifying a problem gambling situation before it gets out of control.
In order to verify that you are the one registering the new account, one form of verification utilized is to send a confirmation email to the email address provided. You must then respond to the email as requested in a specific amount of time in order to activate your new online casino account.
Most established and new NJ online casinos will also require that you supply them with an official document that verifies your identity. This is generally a government-issued ID such as a driver’s license or passport. The document must be capable of confirming that the name, date of birth and address you’ve supplied to the online casino are in fact correct.
This level of verification will also be employed whenever you are requesting a withdrawal from your online casino account. Again, the online casino app is protecting you as well as them.
For that reason, it might take a bit longer to get your money than you’d like, but it’s simply because the online casino staff is doing their utmost to keep your money safe. Their staff is constantly monitoring financial transactions on the site in order to sniff out suspicious casino transactions.
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Are There Any Online Casinos That Allow Anonymous Play Without Verification?
Are there online casinos that will allow you to play without providing identification to prove you are who you say you are? Well, as a matter of fact, there are. However, you run tremendous risk should you choose to gamble at one of these online sites.
First of all, none of them are among the legal and regulated online casinos in the US market. So right away, what you’ll be doing by gambling with them is technically illegal. While there’s no documented evidence to date of any individual person being charged with this form of illegal gambling activity, that doesn’t mean it couldn’t happen at some point in the future.
Secondly, since these sites aren’t licensed and regulated by any US government agency, if things were to go wrong, such as the online casino refusing to pay out a big win, you’ve got no recourse to take action against the casino. Trusting your money with these unlicensed entities is kind of like sending money to one of those Nigerian princes who contact you online. There’s a real chance you might never see that money ever again.
There are reasons why online casinos are required to not only get your personal identification when you open an account with them, but to also go through a verification process to ensure that you are telling them the truth. And those reasons are as much for your protection as it is for their benefit.
For starters, every gambling win in the USA requires that you pay taxes on those winnings. If you don’t claim your gambling winnings on your income tax, expect to hear from the IRS. And if you ever get caught gambling at one of these unlicensed online casinos, then expect the IRS to take a real interest in your finances.
On the other hand, a licensed online casino is also utilizing proof of your personal information in order to protect your assets. Suppose you do hit a big score on one of their games. If so, you can expect that the online casino is going to require you to again verify that you are indeed you prior to paying out those winnings.
With identity theft becoming more prevalent in the internet realm in which we reside, double checking before paying out a major win assures that the money will be going into your account and not to someone pretending to be you.
So while on the surface there might seem to be an attraction to playing at one of these non-verifying online casinos, in reality, the protection offered to everyone in the legal and regulated US market makes things better for all involved.
