Why do bookmakers allow you to deposit and then request your ID, bank statements or proof of address when you want to withdraw?

Where sports, casino and poker combine for unforgetable entertainment. The ranking presents the five leaders of the global betting business. HAPPY BOXING DAY!! In this episode I actually go through what a sleeper is and why I like them. If you want to place a football bet, you have to go to a so-called bookmaker. Bookmakers are gambling companies and offer numerous sports and competition bets. Football betting is by far the most popular and chosen sport among bettors at a bookmaker. Bookmakers provide everything related to sports betting. Maybe for some of you, especially those who are just starting their betting journey, it would be surprising to know that bookmakers do also make a lot of mistakes. What are the most common ones.

It’s one of the most annoying, and unfair, policies surrounding online betting but you’ll be surprised to know it’s a legislative reason that this process takes place and not the bookmakers trying to con or scam you.

Key Points

• Bookmakers must be licensed by the UK Gambling Commission.
• Licensed companies must abide by license terms in order to avoid it being revoked.
• One key term is to ensure gambling is not associated with or used to support any criminal activity.
• Gambling businesses are, therefore, required to seek information about their customers’ identities by law.
• ‘Know Your Customer’ checks now in operation at all online bookies.

Gambling Businesses & the Law

In order to operate legally in the UK, gambling businesses of all types must be licensed by the UK Gambling Commission. As such, they then must adhere to the terms of their licences or as the Gambling Commission themselves put it, they have:

‘being a source of crime or disorder, being associated with crime and disorder, or being used to support crime’.

In general terms, when it comes to online gambling businesses, the most likely crime which could be committed through their services is that of money laundering. It is contingent upon online gambling businesses, as a key term of their licence therefore, to do all that they can to combat money laundering.

Money Laundering & Suspicious Activity

Bookmaker Sports Betting

Money laundering is in its simplest possible terms the concealment of the origins of illegally obtained money through transfers or transactions utilising legitimate organisations or businesses.

In the case of online gambling businesses, then, money laundering would involve the staking of illegally obtained money to turn it into gambling winnings from a legitimate source.

As we have mentioned above, gambling businesses have a legal obligation to combat such activities and the Gambling Commission advise such businesses that the best way to do so is by performing ‘customer due diligence’. The Commission explain what they mean by this, as follows:

‘You can better identify suspicious transactions if you know your customer…Customer due diligence is identifying the client and verifying their identity on the basis of documents, data or information obtained from a reliable and independent source.’

When it comes to online casinos, what’s more, their responsibilities in fighting money laundering are even more strictly set down by the Commission.

The Money Laundering Regulations 2007, in fact, require that remote casinos establish and verify the identity of all customers before access is given to their gaming facilities. Those customers, too…

‘who, in the course of any period of 24 hours, pay to, or stake with, the casino €2,000 or more in connection with remote gaming facilities’

…must be identity checked once again.

In the case of online bookmakers, meanwhile, customer identities must also be verified and followed up on, and this is most often achieved via so-called ‘Know Your Customer’ checks.

Bookmaker Online Betting

Know Your Customer Checks

When customers sign up for an account with an online bookmaker, the bookmaker will generally perform an identity check using the electoral register. If for any reason the customer’s identity cannot be verified in this manner, however, they will request official government ID from the customer.

Such ID includes a driving licence, passport or other official documentation, and can also be requested if a customer attempts a transaction which is in some way out of the ordinary or has potential to be suspicious. In such circumstances, bookmakers may also require a direct conversation with the customer in question, regarding their account activity or the source of their account funding.

These types of check are known as ‘Know Your Customer’ checks and it should be obvious from what we’ve talked about above how they relate to bookmakers’ legal obligations, especially when it comes to money laundering.

In short, therefore, the reason why you have to send your ID to withdraw winnings is because bookmakers are legally required to take steps to ensure that no criminal activity takes place through use of their service.

Related Reading:

Why Are Bookies Called Bookies

Bookmakers offers are everywhere online and in the media, and you have a lot of choice in deciding which bookies to use for your adventures in online betting. In response to many user requests, we maintain a list of reputable bookmakers that in our experience are good to use and have lived up to their promises.

Bookmaker Betting Site

Reputable Bookmakers: Germany

We feel that these are the best Germany-facing bookmakers in the business at the current time.

It’s best to use a number of bookmakers to ensure that you get the best odds.

Click on the links to see their latest joining offers where available:

There are several bookmakers who are now well-established online and operate, in some cases, all around the globe. All bookies need to obtain the appropriate government licences in each territory or jurisdiction in order to operate there. This is why sometimes you will see a message that they don’t accept customers from your country.

We have found that it’s beneficial to maintain accounts with several bookies so that you can take advantage of not only the initial new customer offers (e.g. free bets) but also new features ongoing special offers that you can use after you become a customer. Naturally, you’ll need to meet the requirement of being minimum legal gambling age (i.e. be 18+ years old) in your jurisdiction in order to become a customer of one of these bookmakers.

One of the enticements that bookmakers often use is the new customer offer. These often come in the form of free bets and/or other forms of welcome bonuses. They also come with specific terms and conditions which you’ll want to check, as they can often sound better than they are in reality.

Our advice is not to get too overwhelmed at what such offers can promise – many punters don’t even use the new customer offers. However, if it’s a sweetener that you are interested in, you will normally find plenty of these available.

Bookie Accumulator Insurance

Some bookmakers give you a refund as a free bet if one leg of an accumulator fails. These often include terms and conditions that apply so make sure that you check the fine print to know all about any limits on these.

For accumulators, it’s often a handy option to use bookmakers who offer acca insurance. This is where, after you place an accumulator bet (e.g. 5 bets), you are offered slightly less potential returns (or sometimes a refund) but one of the acca legs can fail. That’s any leg of your accumulator, which is good because you never know which one it might be.

Why Are They Called Bookmakers

William Hill has accumulator insurance available on a minimum of 5 selections and there is a maximum refund level.

Some bookies have it available on the win-draw-win / full-time result market on a 5 selection minimum and also have a maximum refund level.

You can access all of these bookmakers from the links on this page including any current new customer offers.

Bookmakers Offers: Cash Out

Why Are Bookies Called Bookmakers

If there has become a fairly standard feature amongst bookmakers, it has to be Cash Out. This is basically where you are offered to take a lower amount of winnings a bet before the finish of an event (or in accumulators, events). This can be particularly useful if you are really not confident that a team will be able to hold on to a lead in the dying minutes of a match! But the bookmakers aren’t silly, so Cash Out is not always available – and sometimes it can become unavailable at the most frustrating times.

If your chosen bookie does happen to offer cash out, it therefore pays you to be watching your desktop or mobile screen when your matches are being played out.

Bookmaker Sportsbook

Reference Links:

Definition & history of bookmakers (Wikipedia)

We have made efforts to show which bookmakers here are available in your country. However, these are subject to change and often do. Also, please note that laws regarding betting and gaming vary throughout the world. It is your responsibility to ensure that you understand and fully comply with any laws and/or regulations applicable in your own country, state or region. All information correct and up-to-date at the time of writing, but be sure to check the terms and conditions of each bookie offer yourself before proceeding.