Midnite inks verification partnership with HooYu
Esports betting start-up to implement database checking and ID verification system in new agreement
Esports betting start-up Midnite has agreed a verification and KYC partnership with fraud prevention technology specialist HooYu.
Under the terms of the partnership, HooYu will provide Midnite with database checks, ID document validation, facial biometric and identity confidence scoring technology.
It will also oversee Midnite’s KYC tech, providing user interface and experience tools across the esports betting operator’s customer acquisition processes.
Midnite holds a UKGC licence and this year concluded a £2m fundraising round with financial backing from executives at GVC and Betfair.
“As an esports bookmaker, our registration process must be fast and accurate to satisfy the demands of our gaming audience,” said Midnite marketing director Sujoy Roy.
“The new KYC integration with HooYu has allowed us to begin acquiring customers outside of the UK, while maintaining the same quality of customer experience we are known for,” Roy added.
Midnite enables customers to watch and bet on the latest CS:GO, Dota 2 and LoL matches and tournaments.
UK esports betting increased significantly during the Covid-19 lockdown period, with gross gambling yield (GGY) rising by 2,922% year-on-year in March 2020.
However, since sport returned in June, the vertical has declined as GGY fell by a quarter to £3.4m and total bets dropped by 21% to £19.3m.