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      CUSTOMERS – Case Study

      BettorEdge

      How BettorEdge Seamlessly Onboarded 20,000+ Users while Saving $60,000 with Vouched ID Verification

      Streamlined Onboarding and Secure Betting with Vouched ID Verification KYC Solution

      We've had the opportunity to partner with Vouched for over 2 years. Their technology has been instrumental in onboarding over 20,000 people seamlessly and easily to BettorEdge. It's impressive to see the Vouched team continuing to innovate and improve their product beyond initial functionality. Everyone we've worked with from their team has been prompt and quick to assist with any questions and support. - James Seils, CTO & Co-founder, BettorEdge

      BACKGROUND

      BettorEdge, an online social betting platform operating in over 45 states across the U.S., faced the challenge of finding a robust Know Your Customer (KYC) solution. They needed a solution that could securely and efficiently onboard thousands of users while verifying their identities, scale with their organization while maintaining its security and functionality, simplify the onboarding process, and prevent identity theft.

      THE CHALLENGE

      For an online betting platform to be secure and efficient, its KYC solution would have to be very robust. BettorEdge’s success depended on finding the right KYC solution. They needed their solution to:

      • Onboard thousands of users while ensuring their identities are verified.

      • Scale efficiently with their organization without compromising on security or functionality.

      • Streamline the onboarding process without creating unnecessary friction for users.

      • Detect and prevent identity theft during the onboarding process.

      THE SOLUTION

      BettorEdge embraced Vouched's AI-driven ID verification solution, aiming for a seamless integration into their platform. The choice was motivated by Vouched's ability to provide a swift, straightforward setup, crucial for BettorEdge's streamlined operations. And the results were impressive.

       

      THE RESULT

      Vouched's technology reduced the ID verification process to 5 minutes or less per user, seamlessly onboarding over 20,000 users and significantly reducing manual labor. This streamlined process resulted in a remarkable $60,000 reduction in manual labor costs over two years, demonstrating the impact of Vouched's solution on both time and financial resources.

      In addition to creating a more efficient onboarding process, Vouched’s IDV solution provided BettorEdge with:

      Time and Cost Savings: Vouched's technology revolutionized BettorEdge's onboarding processes, saving an impressive 100,000 minutes of manual labor. This not only streamlined user acquisition but also resulted in substantial cost savings. Over the last two years, BettorEdge has seen a remarkable $60,000 reduction in manual labor costs, highlighting the significant impact of Vouched's solution on both time and financial resources.

      Frictionless Process: The integration of Vouched's solution ensured a smoother onboarding experience, allowing users to adopt the platform quickly without dropping off during the registration process.

      Chargeback Prevention: Verified IDs help BettorEdge track identifiable persons, reducing the risk of chargebacks associated with unverified users.

      Fraud Prevention: Vouched's technology stores user IDs and pictures, creating a secure environment with reduced risk and fraud in payments.

      Geographical Compliance: Vouched's IP address check functionality was used in conjunction with geo-location technology that raised red flags for users betting outside legal jurisdictions, ensuring compliance with state regulations.

      International Fraud Detection: Vouched aided in detecting identity theft attempts before users used BettorEdge. Multiple instances in which users attempted to sign up with falsified documents were successfully flagged and prevented.

       

      CONCLUSION

      The partnership between BettorEdge and Vouched has not only addressed the challenges in onboarding but has also contributed to a more secure, compliant, and user-friendly platform. Vouched's ID verification KYC solution has proven instrumental in creating a responsible and fair betting environment for BettorEdge’s users and the online gaming community.

       

      ABOUT

      BettorEdge is an online social betting platform that operates in over 45 states across the U.S. It offers a unique no-fee marketplace, allowing users to bet socially, connect in a market setting, and engage in competitions. Users can engage with friends and the community, leveraging their feed to gauge opinions on upcoming games.

      Unlike traditional sports betting against the house, BettorEdge connects users to bet against each other with no fees. Users have the flexibility to set their desired prices and can create public or private competitions for pick-em games.

      BettorEdge is working to create a responsible environment where legal-age users can engage in betting activities. Their betting platform enables users to form communities aligned with their natural betting tendencies at a lower cost.