How Are Australia’s New Pre-Verification Measures Impacting the iGaming Industry?

The iGaming industry is still relatively new, and this means that new rules are having to be drawn up constantly to regulate different sectors of the market. One of the latest measures in place is in Australia, where the government has introduced mandatory pre-verification for all players wanting to partake in iGaming. 

So, what do the pre-verification measures actually mean? In short, anybody who wants to create an online wager account must first go through a series of new steps to become verified. Until the gaming provider is able to verify the age and identity of the user, they will not be able to deposit any funds or play any online games or gamble. Before these rules became mandatory, there was a time period of 72 hours in which a person’s identity and age would be confirmed before they were able to use their account to make bets.

For those wanting to take part in online gambling in Australia, there are many options to choose from once the pre-verification process has been completed. In Read Write’s list of new Australian casinos, there is a selection of offshore sites that Aussie residents can use to play online casino games, as well as information on which offers the best bonuses, fastest transaction times, and more.

This change comes as pleasant news to Responsible Wagering Australia (RWA), which is an independent organisation representing the online wagering industry. The CEO of the RWA, Kai Cantwell, says that the pre-verification measures will help to prevent underage gambling, as well as reduce risks of money laundering and terrorism financing. Additionally, it will stop self-excluded players from being able to access gambling websites.

Prior to the regulations being introduced, the RWA already verified approximately 90% of gambling customers’ personal information, so there are hopes that the rules will bump this number up to closer to 100%. Online gambling providers prioritise the safety of their customer base, and this is a clear example of that. By collecting user data in real-time, they can put a stop to any concerning or irregular activity, and protect those who are just interested in gambling fairly.

There is no indication that this should negatively impact the iGaming industry. If anything, it will only make it safer for those gambling online. It guarantees that anyone partaking in casino games or wagering online is who they say they are, and that all financial transactions taking place are legal and fair. 

Taking extra steps to verify the identities of players also encourages an open and honest environment in the wider gambling world, which is very important. Countries all over the world are already making efforts to stamp out unlicensed operators and money laundering through online wagering, so anything that increases the transparency of the industry can only be a good thing!