While different jurisdictions have slightly legal terms, online gaming is often referred to as online gambling. Online gaming, also known as iGaming, is the practice of using the internet to play gambling games, which can take place on mobile apps or websites. Such rapid booming pushed regulators to create stricter laws, which we’ll get right into. With over one billion people using online gambling sites and apps globally, its popularity continues to increase. Over the past few decades, online gaming (iGaming) and internet-based gambling have been present in various jurisdictions to some extent, the widespread use of digital means has accelerated the iGaming industry on a global level.īetting on horses and virtual roulette is only a tiny piece of this popular sector. Here, compliance is a crucial way to prevent money laundering, fraud, and other illicit activities. And the online gaming industry is no exception. Know Your Customer (KYC) is a vital process that’s used by different industries to establish and validate the identity of their customers.
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