I’ve been wondering about this.. when we submit our KYC documents to online casinos, are we actually safer with the old, established ones compared to the newer platforms?
Both types usually claim to be licensed and regulated, but the question is -- does having more years in the industry really mean they handle our data better? Or are we just assuming that because they’ve built a reputation?
Some newer casinos might use the latest security standards since they’re just starting out, while the older ones might already have proven systems in place (or maybe outdated ones). At the end of the day, we’re handing over sensitive information like IDs, addresses, and banking details.
So what do you guys think, are established casinos really more trustworthy with our KYC data, or should we treat all of them with the same level of caution?
Just like people, businesses learn from experience and you cannot expect them to get everything perfect the first time around. There may be good and acceptable ways of doing KYC which can be transformed into great methods with a bit of refinement. You also have to picture the costs involved, sometimes they will outsource these kinds of services at the very beginning because they simply don't have the internal ability or infrastructure to be able to check such documents themselves - once they reach a certain scale it might be worthwhile to start bringing all checks in house if the cost price makes sense. So yes, generally as a casino team ages and gains more experience, you're likely to find better KYC processes in place.