Why Do Betting Apps Ask for Social Security Numbers?

If you’re reading this, then you’re probably already aware that your social security number is a valuable commodity. But did you know that someone can actually steal your social security number and use it to gain access to your accounts?

To provide a safer and more secure way for customers to place bets, the biggest online sportsbooks demand that users provide their social security numbers to verify their identity. But why? Is there some type of problem with using security codes instead of your social security number?

The Rise In Identity Theft

Data breaches are on the rise, and they’re not just limited to bank accounts and social security numbers. In fact, hackers are now targeting a whole host of personal information including credit card details, usernames, and passwords. As a result, individuals are taking steps to protect themselves by limiting the information they share online.

According to a recent Verizon Data Breach Investigations Report, identity theft was the number one problem faced by victims of data breaches, accounting for nearly one-quarter of all security incidents investigated by the company.

The investigation also revealed that the majority of victims (57 percent) had to deal with two problems in the three months following the incident, and a large number (39 percent) were forced to deal with more than three issues.

While identity theft is on the rise, internet security has also improved, causing data leaks and exposing individuals to identity theft worse than ever before.

Why Are Online Sportsbooks Different?

The odds of becoming a victim of identity theft and data fraud are high, especially now that more and more people are opting to do their homework online. That’s why online sportsbooks are so concerned about security, as they have to protect against the possibility that a malicious individual will try and gain access to customer accounts.

To provide a layer of security and protection, online sportsbooks utilize security codes rather than your full social security number. The theory behind this is that, should someone steal your social security number, they will still not be able to access your account without also stealing a security code that is linked to your number. While this might sound like a good idea at first, these security codes become totally worthless if you ever forget your password or if someone gets ahold of your social security number.

For these reasons, online sportsbooks ask for your social security number. But is there some type of problem with providing your personal information to a third party?

Is Social Security Safe?

Yes, social security is more than safe; it’s one of the safest forms of ID you can have. However, this does not mean that providing your social security number to an online sportsbook is totally without risk. Despite what the big businesses say, there is always the risk that someone could steal your social security number and use it to commit fraud or identity theft.

The reality is that, unless you’re specifically looking for fraudulent activity, providing your social security number to an online sportsbook is not exactly the worst thing you could do. After all, as long as you don’t share your password and keep your login details private, providing your social security number will not hurt your wallet in any way.

The Great Debate

So you want to know which is better, providing your social security number to an online sportsbook or using a password and sticking to those you’ve seen before?

There is no right or wrong answer to this question, as it depends on your specific circumstances. If you’re worried about whether or not you’ll be able to keep your social security number a secret, then using a password and sticking to what you know might be a better option. But if you’re feeling adventurous and want to give providing your social security number a try, then go for it. Just make sure you know what you’re getting into, as there are risks involved with both options.