There is a projected doubling of the size of the iGaming market from 2016 to 2024. These unprecedented growth rates are caused by globalization and digitalization among other things. Economic factors like convenience and lost cost options come into play as well. Smartphones provide huge scope for iGaming by way of the availability of a multitude of casinos and games to choose from that enhance the gambling experience.

KYC Checks In Online Casinos: Benefits For The Players

According to 2019 survey results, around 4.4 billion people worldwide are active internet users, accounting for roughly 60% of the global population. These elements have greatly driven the online gambling industry and enlarged the industry’s market base. The relevance of Know Your Customer (KYC) and Anti-Money Laundering (AML) has increased as a result of this rapid expansion. With so many possible alternatives, online gamblers seek out sites that are reliable and reputable. On the other hand, CasinoGap sites with no identity checks are gaining huge popularity because of protected privacy. Businesses strive to achieve a balance between user experience and regulatory compliance. This is only to ensure customer protection and safeguard in case of breaches of the law.

Responsibility Of Online Gambling Companies Regarding KYC

Companies in the online gambling market are legally bound to verify user information like age, identity, source of funds and address to protect the players and website from fraud. Reputable and legal casinos often prioritise trust without verification of documents, in case of providing security and fair play to the bettors. Companies that aim at competitiveness and compliance are seeking technologically advanced identity solutions to: 

• They comply with the updated global regulations to provide state of art care.
• They provide a trustworthy, user-friendly platform to reduce hassle and time.
• By maintaining customer records they ensure user safety which is paramount with the ongoing cybersecurity issue worldwide.

What Is KYC And AML In Regards To Gambling?

KYC (Know Your Customer) is a technique for confirming a customer’s identification. KYC procedures are an important aspect of the anti-money laundering (AML)  process. When it comes to online gaming firms, it is an essential step to eliminate financial crimes. This is also known as  Enhanced Due Diligence. The purpose of KYC is to ensure that a customer is who he claims to be. KYC Checks are carried out in banks and other financial institutions to assist reduce fraud and money laundering.

KYC helps to prevent the flow of illicit monies held aside by these organizations by identifying consumers using Personal Identifiable Information (PII) and ID documents. It aids in the lowering of gaming among minors, multiple account users, and self-excluded gambling addicts as well. They are the population more vulnerable to threat so protecting them is of singular concern. 

This procedure not only helps to prevent crime but also ensures that these online casinos themselves do not lose any money due to fraudulent players.

Importance Of KYC 

Casinos earn millions every day, making them a prime target of financial crimes and laundering. The lack of physical interactions makes it accessible for fraudulent users to operate on these websites without identification.

Identity verification and KYC are built to reduce risks by identifying players engaged in scams. The suspicious gamer can be monitored, flagged and banned if required. Without effective laws, online casinos are a high-risk target which leads to huge monetary loss every year.

Laws regarding KYC

When consumers sign up from offshore international countries, compliance with legislation for online casinos becomes the most difficult. If a casino is licensed in the United States, the players may be from the European Union or the United Kingdom, where regulatory compliance is stricter than in the United States. There arises a conflict of jurisdiction in these scenarios and people have to resort to appealing to higher authority for coming to a final solution.

Online casinos fail to recognize that, even if an online gambling platform is registered in a more liberal jurisdiction, it is still subject to the laws of each other’s country. As a result, these platforms must comply with the tougher KYC and AML requirements imposed by the governments.

Conclusion

KYC processes are vital for online playing systems to keep away from crimes like terrorist fundings and cash laundering. Online casinos permit bettors to contend from the world over. Thus, strict safeguards are imposed to save players from mishaps like leakage of important records to different countries. KYC exams have become an obligatory step for all casinos in garnering trust. 

While some provide a brief KYC test or Pay N Play solution, others take time to affirm the user identity. With the development in technology, all KYC procedures are going to be smoother and briefer. National governments are monitoring suspicious online behaviour to stop illegal transactions, especially tax evasions and other FOREX policies. KYC serves as a safeguard while gamblers try to make investments into overseas casinos.

If you are a new GamStop player, what can you expect when visiting an online casino? In the lack of a better word, you can expect a lot. The gambling industry is one of the fastest-growing and one that is developing faster than anything else. There is high demand in searches for an answer on how to get around GamStop restrictions which offer an appealing experience for players from the United Kingdom. Below we will explain what you can expect.

Cryptocurrencies Are More Popular Than Ever

The first thing we can see becoming extremely popular is the use of cryptocurrencies. A player can easily deposit funds using any virtual currency, play games, and withdraw his winnings when he wants. Bitcoin is still the most popular and the most common, but there are countless options right now. This is an appealing method due to several reasons.

The first reason is an extreme level of safety. All your transactions are 100% secure and there is no way to obtain your data. Cryptocurrencies are fast and come with low fees, which are important reasons as well. Then we can see special bonuses available only for players who gamble using cryptocurrencies. This payment method is essential if you want to play in stealth mode, without anyone knowing that you are gambling.

To gamble using Bitcoin or any other cryptocurrency, you need to purchase it and use an e-wallet (for cryptocurrencies) to deposit funds and withdraw your winnings. 

Esports Betting Is Growing Fast

Esports are extremely popular at the moment and they will become even more desirable in the future. This type of betting is different and feels more connected to actual gamblers. You will bet on a player who plays a video game. If he wins, you will win as well. Some of the most popular Esport disciplines are CS: GO, League of Legends and etc.

In addition, there are a lot of new games that will be used for this purpose. New ones are added almost on a regular basis to casinos and it means just one thing. Players have more options. Then we can see a different part of the story. This is an interesting way you can play games and make a profit. 

You Can Play Without Registration

It sounds impossible, strange, or even weird. But, it is possible. You can deposit funds to a specific online casino and load a game to play using that funds. There is no need to perform KYC verification or even register. These casinos are rare on the web but very appealing to a specific type of gambler. First of all, they are great for all gamblers who don’t want to create a new account. They are also ideal for players who want to play in stealth mode, similar to cryptocurrency gambling we saw earlier.

The most common type of players who will like this method is those who don’t like to share their personal data. Honestly, this is something that many UK gamblers avoid. To complete the KYC process, you need to send almost all important data about yourself and your money!

Many Different And Original Bonuses

New bonuses and promotions at casinos are simply stunning. You can expect countless variations that are stunning. A while back you had small, welcome deposit match bonuses only. Now you have dozen of bonuses at any online casino. These include free spins, birthday bonuses, no deposit bonuses, daily rewards and so much more.

As time passes, these bonuses are growing and offering even more perks to players. Already they are impressive, but soon they will become stunning. The bottom line is simple. A player can gamble at one online casino and use over 10 different bonuses that will give him better odds, mode funds to play games, and improve his gambling experience overall. 

Unlimited Number of Games

There are casinos on the web that have 100 games in total. There are others that have over 4.000 different games to offer. In essence, more casinos on the web are offering more games to players. Now you can visit an online casino and easily find any game you like. After all, you have 4.000+ games to choose from. 

There is no need to add that most of these games are slots. They are some of the most popular casino games and the ones that are played by almost all players at some point. That’s why they are developing faster than other games, hence we can see a higher number.

Live dealer games are becoming more appealing as well. Thanks to better graphics and a faster internet connection, players can get an experience that is very similar to actual, Las Vegas gambling! That’s why live dealer games are available in high numbers today.   

Conclusion

If you start gambling right now, you will see that this hobby is better than ever before. There are more options, better perks and there are more games to play in general. All of this is a trend that is going to last indefinitely! In other terms, online gambling is better and better after each day. 

Gamblers or if you call them customers are an essential piece of the puzzle in online gambling. If you have an iGaming business you will want to have a massive base of customers. We can also call them gamblers or players if you prefer. So, what you can do? There are a lot of things you can do here and below we are going to reveal all of these and how they will help you.

Offer New And Impressive Bonuses

There is nothing better than bonuses for gamblers. No deposit bonuses, welcome packages, free spins and so much more are just a couple of examples. More bonuses you offer, more people will visit your casino and play games. This is the first and the most essential thing here. It is a common strategy for umpteen brands, you can find several non GamStop casinos with free spins no deposit offers available and see that all those brands are extremely popular. Keep in mind that many players will skip your casino or sports betting site if you don’t have any bonuses. Hence, we can deduce that this is a mandatory thing. 

Try to impress your customers. Try to be better than the competition and to offer better and higher bonuses. Make the promotions page massive and loaded with options. Daily and weekly promotions are needed as well. We must add that a birthday bonus has a huge role in all of this as well. Some players will even gamble for months in order to get the bonus. 

Promote Your Business All The Time

You need to do 2 things if you are in this line of business. You need to help current users and make them worthy and satisfied with what you have to offer. You can also keep them happy and satisfied. This is done so they will remain your customers and you will create a massive base of them.

The second thing is the fact you need to promote and attract new customers. Use all kinds of methods you can. Some of the best examples are affiliate partners, social media and so much more. The goal is to increase the awareness of your business. More people will know about it and more people will use your casino. 

Only if the two elements here are met you can expect the best outcome. In simple words, you will keep all the regular players at your site and you will attract new ones. Then, you are looking for a bright future and your business can grow and advance.

Offer Amazing Customer Support

Today customers need and deserve the best customer support there is. As you can see, all online casinos and betting sites offer multiple options. You can see live chat, email support, and telephone support. Each one of these is mandatory. Live chat is commonly used by gamblers who have an urgent problem and who want to get help as soon as possible. Email and telephone options are used by users who want to know more or who want to ask you something that is not urgent. 

The mission is to have all the channels or all the possibilities covered. More options mean better customer support. The quality is something you need to keep your eye on as well. Your support agents must be able to help customers within minutes and they must be pleasant. When you have a problem online, you need help and you need to resolve it in a pleasant manner. You can also allow customers to rate the help they got from customer support. This is a useful way to make customer support even better and more advanced. 

Poor customer support will have a huge negative effect on your casino. You can see that many gamblers leave negative reviews all around the web for this issue only. Nobody wants to have a problem without a solution and that casino can’t help them resolve it. 

Partner Up

You can see that all massive businesses have a lot of partners. This comes in many forms and the possibilities are endless. For example famous iGaming related company, Gamban, already partnered with multiple companies to promote its tools. You can see that online casinos are businesses as well. This means that these rely on partners also. Being partner with software providers sites that help gamblers and other platforms that are related to gambling in any way is mandatory. More partners you have, the more users you can track because more people will know about your business. 

This is a great thing and a massive advantage the web has to offer. There are countless opportunities out there and countless businesses that will want to work with you. This is a mutual benefit and it still exists. It is beneficial for your business and also for your partners. The tip is great if you want to increase the customer base and make your casino even better. 

Always Adapt to New Things

This applies to all businesses out there but in the case of online casinos, it is even more important. The industry here has been changing faster than anything else. A while back we were able to see slots only. Now we can see countless games at casinos on the web. Some examples include live dealer games, table games, and more. Imagine a casino that still offers slots only. It won’t have a lot of gamblers present.

The point here is that your casino must offer great games, use the latest safety technologies and follow the latest trends. If a new type of game is available, you need it. If players start using mobile phones only for gambling, you need to be prepared for that. You need to know what is happening right now and what is going to happen any time soon. Then you can adapt and create a casino that is special, follows the trends, and offers players precisely what they need and want. You must stay in touch with your users. You can even ask what they want and implement their desires into your business. The best products always do this. 

Measure The Success

If you use all of these and many more things or tips you will have a massive base of customers. The secret is to look at the sources and analyze where those users come from. Most of them can come from social media or from some of your partners. These are the most valuable actions you made and they deserve more attention than the others. You can also analyze and see where or from which countries your gamblers come from. Then you can adapt your offers better to these players. 

In other words, you need to know what works and why. This will help you in one other way. You will eliminate time-wasting and expensive mistakes or risks that are not worthy of your attention. It is something that can we can see in all businesses and something that works better and is more important than you can imagine. 

The Final Word

Yes, these simple things can have a huge effect on your customer base and they can help you get more customers, more players, and make more profit. At the end of the day, this is all that a business needs and an online casino needs it even more. The best part is that all of these tips are simple and they can be completed from the comfort of your home.

With the advancement of civilizations from the paleolithic period, which has not been accounted for in written history, a vast number of cultures and races show the existence of Gambling as a habit that evolved with the Human Race. Gambling over thousands of years has branched into various segments and has given rise to an enormous ‘Gambling Industry’. 

The most prominent of these industries, over time, became the Online Casinos. On the other hand, if we look into more recent history (nearly around 1962), where modern technology gave rise to more entertainment features to human beings, video games came into existence.

Even though different timelines and origin stories, video games and online casinos became similar in the present-day scenario. Both the industries thrive through the other developing industries as one of the most profit-generating and people-engaging industries, that also provide guaranteed customer satisfaction alongside generating billions of dollars in net profit worldwide.

Similarities Between Online Casinos and Video Games

Multiplayer Feature

With Online casinos platforms like Blackjack and Poker on one hand, and video games like Counterstrike and Resident Evil Series on the other; the two go hand in hand to create a competitive and interactive environment for real-time players. With live chat rooms and video interactions in the real-time operators, it creates an environment of interest and an opportunity of gaining profit as well.

Theme Based Games

CasinoDeps.co.nz lists some quality operators with an aim to add something that would attract gamblers to their site. Simple games on casino platforms tend to be monotonous on the gamblers. Hence, the software developers like Novomatic, Pragmatic Play, Vivo gaming, etc. offer a wide variety of quality theme-based slot machines, table games on online casinos. Games are based on movie trends, science fiction, adventure, oriental, sports, etc. Similar theme-based video game varieties can be found such as shooters, call of duty, FIFA series, etc.

Rewards and Bonuses

With a more than 350-billion-dollar profit summation of both the industries, they have a lot to offer to the customers as an alluring offer to buy more and more products. Online casinos and video games have a lot to offer to customers in terms of addictive bonuses and year-round offers. 

Online casinos offer winning prices just like video games. This is what makes both platforms addictive. Offers like welcome bonuses in gambling platforms provide a great opportunity to the punters for trying out new games and winning some real money to wager on other games.

Devices and Technology

Both gaming and gambling have come a long way from where they had first started. Even a decade ago, for playing video games, we needed a particular system installed on our desktops. Similarly, gambling was also restricted to websites accessible from our desktops. Since then, gaming developers have created games that can be played from across the world on any chosen device. 

At present, almost all games come with several versions, each specified for a particular device. Both casino games and video games offer an experience using virtual reality and augmented reality technology. VR mimics real objects and scenes via codes that are computer-generated whereas AR acts as a path between real life and virtual data.

Addiction

A global report showed that over two billion people regularly play video games where 1-10% suffer from addictive tendencies. Another USA-based report revealed that 1% of its adult population suffers from gambling addiction among which 6-9% belong to the teenage group.

Both the gambling industry and the video gaming industry strive to create engaging content. All the attractive features like multiplayer, VR, etc. makes players prone to addiction. Addictive tendencies are common among teens and young adults since they find the required validation in the virtual world through rewards offered to them and live chat players.

Some other striking similarities between the video gaming industry and the gambling industry include:

• The combination of visuals which enhances the gaming experience,
• Incorporation of elements of happenstance which makes gaming more engaging and exciting.
• Bonuses, offers, and promotions make a player feel invested in the game.

Conclusion

Both video games and gambling activities have intermittent reinforcement schedules and attractive features. The profitability margin of both through the customer base created by them, makes them stimulate growth on a dynamic basis. 

Keeping the positives aside, both video games and gambling platforms triggered problem gambling and addictive tendencies due to the excessive amounts of time spent on these platforms. When exposed to it from a younger age, it tends to be harder to rehabilitate at a later time which causes difficulty in monetary as well as personal conditions. 

Points of convergence between these two industries include loot boxes, lottery products, social casino gaming, and esports. Irrespective of the pros and cons, both industries go hand in hand and their operators need to regularly bring more advanced gaming features for their customer base.