Know Your Customer Procedures
The registration process involves having the player enter the following information:
- Correct e-mail address
- Password (twice for verification purposes)
In order for the registration process to be successful, players must be at least 18 years old and can only have one player account in their name. Players from Estonia must be at least 21 years of age. The system does not allow the registration of players who are underage.
Players from restricted countries are not allowed to register due to the strict non-gambling regulations in these countries.
E-mail account activation
An e-mail is sent to the address specified in the registration form containing an activation link; it does not contain any sensitive information such as the player’s username.
Upon clicking on the activation link, the player is then able to log in to the account and make a deposit.
Mobile players may opt for mobile verification and are sent an SMS verification number in order to log in.
The player is only allowed to deposit using a Cryptocurrency transfer, which is processed using our approved payment provider. No cash deposits are not allowed.
Payout Management Procedures
It is very important for operators of bets.io to know who their players are and for that reason, players who submit a withdrawal request can be requested at the sole discretion of Bet.io's security team if suspicious activity is considered to send documents proving their identity before the withdrawal request can be accepted. Documents can be sent to Customer Care at [email protected]. Accepted documents must be a picture and/or photograph showing all four corners, with readable information of the documents. Solicited documents can be:
- ID \ passport \ driver’s license (front side and rear side)
- Selfie with the front of the ID
- Selfie with a piece of paper with Casino name and the current date written on it
- Document that can prove the address specified in the profile (utility bill etc, the document should be not older than 90 days).
Bets.io reservers the right to ask for KYC documentation it deems necessary for any transactions exceeding 2,000 EUR or the same value in cryptocurrencies and further reserves the right to carry out such verification procedures in case of smaller transactions, as regulated by our gaming license;
Withdrawals can only be made to the same verified crypto wallet. account through which the deposit was made. The only exception is when players deposit using MasterCard or other methods which do not allow a withdrawal. In these scenarios, withdrawals can only be done through a method that is different from the one used for deposits. The staff who will be making the payment have to ensure that the wallet or method to be used belongs to the player in order to reduce the risk of money laundering. This includes a copy of the client's bank statement and a utility bill confirming the address of the client. No cash withdrawals are allowed.
Anti-Money Laundering Procedures
Players are not allowed to transfer funds from one player account to the account of any other player, as this may give rise to money laundering activity.
Checking for Money Laundering activity is very important and thus player activity is continuously monitored.
Staff regularly checks:
- Deposit patterns;
- Deposit methods used by players;
- Withdrawal Patterns;
- Strange Betting patterns; example an account in which there is normally very little activity, starts placing a lot of bets;
- Updated player details are checked for any suspicious changes.
Should a player’s activity raise suspicion that they may be involved in Money Laundering Activities, the case is escalated to management. Should management decide that the case is indicative of Money Laundering activity, it is further escalated to the MLRO (Money Laundering Reporting Officer).
A KYC is carried on all withdrawals and deposits which accumulate to €2,000 crypto equivalent. A copy of the wallet profile used when making the deposit is requested. A copy of their ID is requested together with proof of origination of funds and verification of address. If the company is uncomfortable with the state of the documents, clients might be asked to send apostille copies of the said documents. The system automatically detects the above.
In the event of suspected transactions beyond our control, the company reserves the right to contract third-party companies specializing in AML and enhanced KYC in order to assist in company investigations. The contract with the mentioned third party will be duly sent to the respective gaming authority.