Nowadays, bettor verification is increasingly becoming one of the biggest challenges for betting platforms. After all, nothing is more frustrating for bettors than the delay in completing the mandatory steps.
This process, which should be simple and quick, often becomes an obstacle, affecting the user experience and, consequently, the operator’s revenue.
With every minute of waiting, the risk of abandonment increases, and the platform loses not only the retention opportunity, but also a potential customer.
But what would be the solution to this problem that plagues so many companies in the sector? How can we ensure fast verification, without compromising security, and at the same time provide a satisfactory experience for the bettor?
The answer may be simpler than many imagine: the reuse of already verified documents.
The major problems with the delay in the bettor verification process
Bettor verification, while essential to ensure safety and regulatory compliance, regularly faces issues that result in a frustrating user experience.
The process, which involves collecting documents, sending photos and filling in data, ends up being time-consuming and bureaucratic. This causes significant delays, especially when there is a high demand for new user registrations.
Furthermore, these slow processes can generate a series of negative impacts. These include an increase in customer acquisition cost (CPA), a drop in conversion rates and, in more extreme cases, users abandoning the platform altogether.
Document reuse as a solution
The solution lies in reusing already verified documents. But what does this mean in practice?
Well, reuse allows bettors who have already been verified on other platforms that use the same KYC provider, with a simple procedure, to validate their identity again without going through all the repetitive steps of the verification process.
To better understand, the bettor may be able to verify himself using just a selfie, after all, he has already gone through all the steps that prove his identity, previously.
The effects on the sector’s economy
The science behind repurposing is simple and powerful. By repurposing a verified bettor’s data, operators can reduce their effective CPA by up to 35%.
This is because identity verification, which was once a recurring cost for each new customer, is now a one-time investment. Additionally, by reusing documents and data, verification time is reduced to just a few seconds, ensuring a faster, more frustration-free experience.
For operators, this represents significant savings and process optimization. Verification costs fall, user experience improves and, ultimately, conversion rates increase, as bettors can start playing immediately after a simple validation process.
The impact on profitability
The impact of implementing document reuse goes beyond simply reducing operational costs. By adopting this technology, many betting operators are able to reach financial break-even much earlier than expected.
This model accelerates return on investment (ROI), as with lower verification costs and higher betting volume, the platform can generate revenue more quickly.
Furthermore, reusing bettor data also contributes to increasing trust in the platform. Bettors feel safer when they realize that they will not need to repeat the verification process for each transaction or new registration, which results in greater loyalty and engagement.
But is this procedure safe? What happens to the bettor’s data?
When it comes to identity verification and document storage, security should be the top priority. That is, bettors’ data needs to be treated with the highest level of protection, ensuring that there are no risks to their privacy and that the platform complies with current laws.
For this reason, the document reuse process is carried out based on the guidelines of the General Data Protection Law (LGPD), ensuring that user data is used securely and under strictly controlled conditions.
In short, user privacy is respected at every stage of the process, providing complete confidence for those who wish to place their bets safely and peacefully.
Want fast, secure and fully compliant bettor verification? Try Legitimuz, the leader in Brazil with 60% market share and the largest verified user base in the country, with over 22 million bettors. Enjoy the ease of verifying 8 out of 10 users with just a selfie!
