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That is the primary component of KYC, but another of near-equal importance is the ability for bettors to self-impose responsible gaming limits. The velocity of online gaming is much faster than that of a brick-and-mortar casino.
You can legally register at a casino sister site if your country's law supports online gambling. If not, playing at these sites is illegal.
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For the same reason, winning in card games like blackjack or poker via the internet requires thoughtful study and deliberation. While chance determines to a significant extent the cards each player receives, it is ultimately up to them to select how those cards will be used.
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With more markets now regulating online gaming, developers and casinos must pay extra licensing fees. They may be passing these costs off to customers through lower RTP.