#5. Dealing with KYC & Withdrawals
To make sure there’s no funny business going on, and at the same time protect your own hard-earned cash, online casinos have a number of security measures in place. Most of them you won’t be able to see, even though they’re working behind the scenes in your favor.
One of them, however, you’re bound to notice the first time you request a withdrawal, something called KYC. It stands for “know your customer” and could loosely translate as “casino making sure they’re handing over money to the right person”. Players sometimes feel they’re made to jump hurdles in order to claim their fairly won cash, but we can assure you this is common practice and really in your own best benefit.
At a gambling site licensed by the Malta Gaming Authority, additional verification is normally required for payouts exceeding the value of €2,300. As part of the casino’s KYC procedures, you will be asked to provide a copy of your passport, national identity card or driving license, along with a recent utility bill (such as gas, telephone, insurance).
You may also be required to supply a copy of the credit card used, screenshot of your e-wallet, or a recent bank statement.
No matter how pesky all this sounds, it should take no more than a few minutes to complete. Simply scan the requested documents and attach images to an email addressed to the casino. Once that’s done, they will process your withdrawal and release the payment.
Generally, the quickest way to collect one’s winnings at USA casinos is via cryptocurrency like Bitcoin, Litecoin, Ethereum or Dogecoin. The following payments can be done without having to share any sensitive personal details, which is what makes these methods not only fast but also highly secure. Processing of the related withdrawals is normally done within 24 hours or less.