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KYC Policy

KYC Procedures

Player Registration

In order for a player to be able to play on bets.io’s operators, they need to first of all open an account from the online portal. Players who do not register on the website are not able to place any stakes on any of the offered games. Upon completion of the registration process and having accepted the terms and conditions and privacy policy, the player is then able to make a deposit and can then start playing.

The registration process involves having the player enter the following information:

  • First Name and Last Name,
  • Place and Country of Residence,
  • Date of Birth,
  • Correct e-mail address.
  • Username
  • 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 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

Before the player is allowed to login for the first time, 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 login to the account and make a deposit.

Mobile players may opt for a mobile verification and are sent a SMS verification number in order to log in.

Player Deposit

The player is only allowed to deposit using a Crypto currency 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 their first withdrawal request are asked to send documents proving their identity before the withdrawal request can be accepted. Documents can be sent to Customer Care on [email protected] Accepted documents are scanned copies of I.D. card, passport, driver’s licence and any recent utility bills showing the player’s address.

No withdrawal requests are processed until the uploaded documents are sent by the players and are checked and approved by staff. Furthermore, any player who deposits a cumulative amount of the €2,000 crypto equivalent or more over a rolling period of 180 days, will also be subject to the verification process.

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 with using MasterCard or other methods which do not allow a withdrawal. In these scenarios, withdrawals can only be done through a method which 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 reduce the risk of money laundering. This includes a copy of the client bank statement and a utility bill confirming address of 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).

Full KYC

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.

Third Party Assistance

In the event of suspected transactions beyond our control, the company reserves the right to contract third party companies specialising 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.

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