Digital onboarding becomes essential for the iGaming market in Brazil by 2025, with new legislation just weeks from coming into effect. In this article, Legitimuz, the company with the highest conversion in Brazilian iGaming and specialized in KYC and compliance for the sector, shows how it offers a competitive advantage to its partners.
Adopting an efficient digital onboarding system is crucial for the iGaming market, especially in Brazil, which is about to start a new era with the regulation of the sector in January 2025. With Law 14.790/2023 and other related ordinances establishing new parameters for the sports betting market, the ability to offer a secure and efficient registration process has become more important than ever.
What are the new requirements for onboarding in iGaming?
With the regulation approaching, operators will need to comply with specific requirements of the Brazilian online betting market.
The legislation requires:
* Rigorous verification of user identities
* Robust KYC (Know Your Customer) procedures
* Controls for preventing money laundering
* Data protection in compliance with the General Data Protection Law (LGPD)
* Measures to make gambling responsible
What are the main onboarding trends that meet the new regulation?
Some of the main trends for optimizing the registration process for bettors include:
Advanced biometric verification
The implementation of biometric verification technology has become essential to meet regulatory requirements. The FaceMatch from Legitimuz and other facial verification solutions ensure:
* Accurate user authentication
* Compliance with KYC requirements
* Significant reduction of fraud
Regulatory automation
Systems of automated verification using Artificial Intelligence (AI) also stand out, and need to be adapted to the specifics of the Brazilian betting market, offering:
* Verification of Brazilian documents and their characteristics, which vary by region
* Integration with national databases
* Compliance with requirements for preventing money laundering and financing of terrorism}
Opportunity: why is preparing your digital onboarding now urgent?
Basically, because platforms need to ensure compliance to continue operating in Brazil, and because efficient onboarding is one of the major differentiators to remain competitive in this highly contested market. Therefore, it is essential that operators consider:
1- Compliance with Brazilian standards
* Implementation of robust and specific KYC processes
* Integration with national verification systems
* Adaptation to LGPD and sector regulations
2- Security and compliance
* Identity verification through multiple factors
* Continuous monitoring of transactions (login, registration, withdrawals, and deposits)
*Fraud prevention processes
In addition, the Brazilian market presents significant opportunities for those who wish to transform compliance into opportunity, such as:
* Market potential estimated at R$ 12 billion annually.
*Projected user base of about 40 million Brazilians.
* Need for digital onboarding solutions adapted to the country's profile.
How Legitimuz highlights its partners in the new regulatory scenario
It is a fact that the regulatory complexity imposed by Law 14.790/2023 and the complementary norms from the Secretariat of Bets and Prizes will require operators to develop more than simple verification processes. Now, it will be necessary to develop complex and robust digital ecosystems to be 100% compliant with the legislation.
And Legitimuz, as a company specialized in KYC and compliance solutions, has technology developed to meet the needs of the Brazilian bettor and raise the level of its partners in the face of competition.
The Identity Verification (KYC Onboarding) system from Legitimuz ensures not only full compliance and security for the operation and its users, but also positively impacts conversion, generating an increase of up to 30%, which directly reflects in the financial gains of the platforms.
Legitimuz solutions combine:
* High technological performance, with complete verification in less than 30 seconds
* Use of digital document in onboarding
* Optimized user experience
* Use of facial biometrics and artificial intelligence
* Highest conversion rate in the market
* Rigorous security protocols
* Cross-referencing of information in more than 30 official national and international databases
* Instant compliance.
Thus, online betting houses and game operators who anticipate and invest in modern onboarding solutions, like the KYC Onboarding from Legitimuz, will not only meet legal requirements and stay in the market, but will create entry barriers for new competitors.
Talk to our experts here: I want to talk to Legitimuz!
Also see: The technology that transforms your operation with efficiency and security: https://blog.legitimuz.com/tecnologia-ocr-transformando-a-plataforma-de-apostas-com-eficiencia-e-seguranca/
Learn more: What the new regulation says about underage bettors: https://blog.legitimuz.com/menores-de-idade-podem-participar-de-apostas-online-no-brasil/
Source: Legitimuz
