In an unprecedented move, IDnow, a leading identity verification provider in Europe, has observed a significant uptick in the number of gambling customers seeking identity verification services. This spike aligns with the commencement of Euro 2024, which kicked off on June 14. Over the period from June 14 to June 16, IDnow reported a staggering 750% increase in verification requests compared to usual levels.
IDnow Reports Unprecedented Surge in Identity Verification Requests Ahead of Euro 2024
Euro 2024 Drives Massive Increase in Verification Requests
The surge in verification requests has not only surpassed the numbers seen during the 2022 World Cup but also highlights the growing enthusiasm and participation in major sporting events. This trend is expected to persist throughout the tournament, especially during each country’s first game.
Roger Redfearn-Tyrzyk, Vice President of Global Gaming at IDnow, commented on the situation: “The challenges operators face during major sporting tournaments are not necessarily any different from their regular daily compliance hurdles, but the sheer volume of new players from all around the world, coupled with increased activity, is likely to cause issues for unprepared operators. Euro 2024 will be a huge opportunity for gambling platforms, new and old, so it’s essential they capitalize on the event while safeguarding their players and their reputation.”
Importance of Secure Verification During Major Sporting Events
Global sporting events like Euro 2024 attract both casual and regular bettors, significantly contributing to the rising popularity of online betting. However, this surge also brings heightened security concerns. For example, during the last World Cup, 250,000 people in the UK visited unregulated, black-market sites, a stark increase from 80,000 the previous year.
Given this backdrop, IDnow emphasizes the importance of secure player onboarding, deposits, and withdrawals. Operators must conduct seamless Anti-Money-Laundering (AML) and age verification checks to combat the expected rise in fraudulent activity during and leading up to Euro 2024.
Key Challenges and Opportunities for Gambling Operators
Redfearn-Tyrzyk elaborated on the importance of readiness for operators: “Only when operators are confident they can verify accounts thoroughly and onboard the right players during such a busy period will they be effective in fighting fraud. Euro 2024 represents a massive opportunity for gambling platforms. However, to leverage this, they need to ensure that they are well-prepared to handle the influx of new players while maintaining the integrity of their operations.”
Regional Impact and Security Measures
European nations are poised to see the most significant increase in usage during the Euro 2024 period. As such, gaming operators in these regions must prioritize secure player onboarding and compliance with regulatory standards.
Redfearn-Tyrzyk concluded: “Gaming operators in these particular regions must offer secure player onboarding, deposits, and withdrawals and conduct seamless Anti-Money-Laundering and age verification checks to help fight the expected proliferation of fraudulent activity in both the build-up to Euro 2024 and throughout the tournament.”
Conclusion: The Identity Verification Requests
The spike in identity verification requests reported by IDnow ahead of Euro 2024 underscores the growing intersection of technology and sports betting. As more players flock to online platforms to place their bets, the need for robust and compliant verification processes becomes increasingly critical. By staying ahead of the curve and implementing advanced verification technologies, operators can ensure a safe and enjoyable betting experience for all participants.
FAQs About IDnow’s Increase in Identity Verification Requests for Euro 2024
1. What is IDnow, and why are they reporting a surge in identity verification requests?
IDnow is a prominent identity verification provider in Europe. They have reported a significant increase in verification requests due to the start of Euro 2024, indicating heightened activity from gambling customers needing to verify their identities.
2. Why has there been such a large increase in verification requests during Euro 2024?
The surge in verification requests during Euro 2024 is driven by the massive popularity of the tournament among sports bettors. This influx of new players and increased betting activity necessitates stringent identity verification to comply with regulatory standards and prevent fraud.
3. How does Euro 2024 compare to previous sporting events like the World Cup in terms of verification requests?
Euro 2024 has seen a 750% increase in verification requests compared to normal levels, surpassing even the volume observed during the 2022 World Cup. This underscores the growing engagement and participation in major sporting events and online betting platforms.
4. What challenges do gambling operators face during major sporting tournaments like Euro 2024?
Operators face challenges related to handling a large influx of new players, ensuring compliance with regulatory requirements, and safeguarding against fraudulent activities. The sheer volume of transactions and new registrations requires robust verification and compliance measures.
5. How can gambling platforms ensure they are prepared for events like Euro 2024?
To prepare for events like Euro 2024, gambling platforms must implement secure and efficient identity verification processes. This includes thorough Anti-Money Laundering (AML) checks, age verification, and ensuring compliance with local gambling regulations to maintain the integrity of their operations.
6. What impact does Euro 2024 have on the gambling industry, particularly in Europe?
Euro 2024 significantly boosts the gambling industry’s activity, especially in European markets. Operators need to capitalize on this opportunity while ensuring they can handle the increased traffic and maintain high standards of security and compliance.
7. What regions are expected to see the highest increase in gambling activity during Euro 2024?
European nations are expected to experience the highest surge in gambling activity during Euro 2024. Operators in these regions must be particularly vigilant in implementing secure onboarding processes and compliance measures to mitigate risks associated with increased betting activity.
8. How does IDnow recommend operators handle the challenges posed by events like Euro 2024?
IDnow advises operators to prioritize secure player onboarding, deposits, and withdrawals. They emphasize the importance of using advanced verification technologies to effectively combat fraudulent activities and ensure a safe and trustworthy gambling environment during major tournaments.
