To verify your identity obviously, nothing else. Cyberbet requires KYC due to its license as informed on the OP.
No matter what payment method you want to use in cyberbet, you will still need to pass KYC.
As what I said earlier in this thread, this KYC will be the main enemy for cyberbet to gain attention from crypto gamblers.
I agree with this. KYC requirement at all levels would be a major factor for the players not to play on their site. At least, be lenient to small time players. Like if you are playing with small amount like below 1BTC, no need for KYC. But it is up to cyber.bet management, it is their call when it comes to this. But this may be one factor why some players will be halfhearted to use their platform.