Why verifying account only before withdrawing?

[Heatman]

It's known to be a standard operating procedure for any poker site to have you verify your account and identity whenever you want to withdraw your earnings.

Now, my question is why don't they have the same procedure for when you want to deposit money into your account? This verification should start from there. Why are those sites not worried about your identity when you're making a deposit but when you want to withdraw, they'll be interested in verifying your identity?

 

[Nathan AKA Nate]

I hate verifying my account before you can play any sort of games

 

[Bawse]

@Nathan AKA Nate I agree you should be able to play while waiting for your account to be verified.

 

[Nathan AKA Nate]

You should allowed to play without verification on the account

 

[Nomad]

All websites dealing with money has to verify users account. That's under financial regulation but I am surprised why they as for verification only when you are withdrawing and not while depositing.

 

[lens]

The reason poker sites usually do any verification before payout than during the deposit is mostly because of regulatory issues like anti-money laundering (AML).

 

[uptrendfinancialsignal]

I think the reason why verifying account before withdrawal makes sense is due to ani money laundering and know your customer KYC policy. It will help ensure that the funds you are withdrawing is going to the right account.

 

[Kross]

On the online poker sites that I play on, a user is expected to do identity verification immediately after sign up. They can't even fund their account or play without verification. That's majorly to ascertain that a person is up to 18 years old before being onboarded to start playing the poker.

 

[magnus2022]

It's known to be a standard operating procedure for any poker site to have you verify your account and identity whenever you want to withdraw your earnings.

Now, my question is why don't they have the same procedure for when you want to deposit money into your account? This verification should start from there. Why are those sites not worried about your identity when you're making a deposit but when you want to withdraw, they'll be interested in verifying your identity?

Legally, the onus of proof have shifted to the gambling site to provide documents in case of money laundering and other related crimes. When you deposit money, the money is with them and they can hand it over the government in case of money laundering. But if the money have been withdrawn, government should ask them to provide KYC documents to continue to track the fund.

 

[Shortie]

This has always been something that has baffled me when it comes to any kind of gambling sites; they want you to confirm your identity before you withdraw, but they will happily take the money you deposit without proof.

I can only imagine how many people have their details stolen and used on these sites without the need for ID to confirm their account. Granted, they will not be able to withdraw funds, but it seems weird that their only concern is to verify identity when you want the money you won.

 

[Heatman]

This has always been something that has baffled me when it comes to any kind of gambling sites; they want you to confirm your identity before you withdraw, but they will happily take the money you deposit without proof.

I can only imagine how many people have their details stolen and used on these sites without the need for ID to confirm their account. Granted, they will not be able to withdraw funds, but it seems weird that their only concern is to verify identity when you want the money you won.

It's a very bad policy as far as I'm concerned because I've tried reviewing this in so many ways that I cannot understand the reason why they made it that way. Fund is fund, whether you're depositing or withdrawing.
If an account identity needs to be verified, it should be done for both deposit and withdrawal and not one-sided.

 

[Shortie]

It's a very bad policy as far as I'm concerned because I've tried reviewing this in so many ways that I cannot understand the reason why they made it that way. Fund is fund, whether you're depositing or withdrawing.
If an account identity needs to be verified, it should be done for both deposit and withdrawal and not one-sided.

This I agree with! With anything that has to do with money and even using bank accounts, all sites should require identity to ensure that it is that person who is depositing and withdrawing. I have never understood why it is usually only done for the deposit.

 

[Heatman]

This I agree with! With anything that has to do with money and even using bank accounts, all sites should require identity to ensure that it is that person who is depositing and withdrawing. I have never understood why it is usually only done for the deposit.

They are willing to take your money without any questions but when it's time to give it back, it becomes too much work and hard for them to do with too much scrutiny.

I had one of my betting account banned after I requested for withdrawal because some of my information wasn't corresponding. It was pure madness.

 

[Naza]

All websites dealing with money has to verify users account. That's under financial regulation but I am surprised why they as for verification only when you are withdrawing and not while depositing.

The reason could be that they don't really care where the deposit is coming from since it is an online game, but once it has to do with them paying, they have to screen it better.