Sports Bettor Asks Why ID is Necessary After Bitcoin Deposit

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Sportsbook Review has received a complaint from a player unhappy with having to fork over his personal information after making a bitcoin deposit.

The player has asked if this is standard operating procedure and believed that the entire point of bitcoin was being afforded anonymity, both transaction wise and with sportsbooks.

The fact is that reputable gaming companies that accept fiat currencies in addition to bitcoin are required to confirm users' identities to maintain compliance with the Know Your Customer (KYC) procedures and with their gaming regulators. Bitcoin sportsbooks that deal exclusively in bitcoin may not require KYC, but these sportsbooks are operating without the oversight in place at more established betting sites.

Players should not feel hesitant at sharing ID with sportsbooks: The well-rated companies have invested in SSL and industry-best software for safeguarding user data. The fact is that sportsbooks that run a clean house and keep scammers out are more likely to offer a better experience than a company that is targeted by troublemakers.

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