EUDI Wallet in Gambling: Could EU Verification Become Mandatory?

The changes that the iGaming industry is going through right now are quite significant. Governments are more willing than ever to legalize online casinos. They’ve seen the drastic financial potential that could come out of the sector. But this realization may be somewhat of a double-edge sword. With the new wave in legality comes stringent restrictions and regulations.

The legal market has mostly been beneficial for European bettors and gamblers though. It has allowed them access to betting platforms like Neobet and more online casinos than one can imagine. It has also led many sites to implement a variety of payment options. EUDI wallets are the latest trend in depositing for European gamblers.

There are currently rumors that EU verification is going to become mandatory for those who choose to use the EUDI wallet when playing their favorite games. The goal we’ve set out in this article is to examine how the EUDI wallet works and what the verification will entail.

What is the EUDI Wallet?

The EU Digital Identity Wallet is exactly what you would imagine; a secure electronic wallet that is perfect for residents and businesses operating in the European Union. The tool provides much more than just a payment service though. It can be used to authenticate identity across state lines. Citizens of the European Union can share digital documents and identity data through the EUDI wallet, allowing the service to keep track of their identification at all times.

The EUDI wallet has been incredibly useful for residents of the EU who frequently travel within member states’ borders. But gamblers have also found a use for this service. They’ve discovered that the EUDI wallet is the perfect tool for making quick and reliable deposits at online casinos. We can’t blame them for this realization. The service comes with some incredible key functions that has made it a premium choice for online gambling.

EUDI Wallet’s Use in iGaming

The EUDI wallet comes with all of the functions that you need in order to play at an online casino. It operates as a storage for digital documents. This allows users to share their identification with a gambling platform quickly in order to comply with any KYC policies that may be in place. The wallet also allows for cross-border access making it perfect for tourists who are interested in exploring the digital gambling landscape in the nations that they are visiting.

The best part about the EUDI wallet is the relentless dedication to security. The tool provides a reliable and safe way to prove one’s identity online and offline. Users never have to share any more info than what is required of them. There clearly is a case to be made that privacy is something that the company values above all else. The documents that you’ve chosen to share with the EUDI wallet will remain private according to the company’s standards. Any transactions you’ve made with the wallet will remain private as well.

EUDI Wallet as Verification

Rumors have sprouted recently that seeing the European Digital Identity Wallet as a valid form of verification is going to become mandatory in the EU’s future. Some are asking how this pertains to online casinos. European countries that have chosen to legalize iGaming platforms have done so with a few regulations in check. All of these restrictions are put into place in order to ensure responsible gambling for all players. A big part of these regulations are the KYC policies that are being implemented by an increasing number of online casinos.

Know Your Client policies are exactly what you might imagine they are. They are strict rules that require online casinos to be aware of exactly who is visiting their platforms. The concept may seem strict at first glance. But KYC has proven effective in combating internal and external threats. Online casinos have drastically reduced spam and identity theft thanks to the implementation of the Know Your Client rules. But how does this relate to the EUDI wallet?

We explained before that the service can be used as a method of authentication and identification. But EU businesses don’t have to accept the EUDI wallet as a valid form of verification. That seems to be changing soon. It seems that the EUDI wallet is going to become a mandatory form of verification for gambling and gaming platforms in two years’ time. What does this new law mean for iGaming and the EUDI wallet?

The EUDI Wallet in iGaming

The big change is that online casinos will have no choice but to accept the EUDI wallet as a valid verification method. We explained that online gambling platforms are legally required to authenticate their users’ identity. The task was performed via screenshots and photographs of ID cards or passports up until recently. But the EUDI wallet is set to make the entire process a lot simpler and more streamlined.

Some players have already gotten excited about the change. But we must make it clear that the new EUDI wallet regulation has not been put into effect yet. It is true that the service is not yet available in all member nations. The new laws state that countries that are part of the European Union must bring the service to their people by the end of next year. It isn’t until the year after that the EUDI wallet verification laws are going to go into full effect.

There are those who may not understand the purpose of this new law. We’ve already explained that one of the goals is to make the authentication process easier for both players and businesses. But it is also true that the EUDI wallet is a highly secure and reliable service. It likely has a lot to do with the EU’s desire to improve the quality of the iGaming sector and ensure a responsible market. The EUDI wallet also emphasizes privacy and anonymity. Many online gamblers would prefer that they remain anonymous in their transactions. The new law would allow them a safe way to do so.