Preventing Evolving Fraud Attacks in the iGaming Industry


Preventing Evolving Fraud Attacks in the iGaming Industry

Part 1: The Challenges

1.1 Thriving in a Transforming Market

1.2 Bonuses Abuse – 3 Ways it Hurts Vendors

1.3 Multi Accounting, Fines and Self-Exclusion Fraud

1.4 Account Takeover Damages Brands and Reputation

1.5 Affiliate Fraud Erodes Trust With Partners

Part 2: The Solutions

2.1 Digital Footprint Tools For a 360 View of Users

2.2 Adaptable KYC Triggers at Signup

2.3 Better Precision With Velocity Rules and Machine Learning Insights

2.4 AI for Self-Exclusion Programs

2.5 Multi Layered Prevention That Fits your Business Infrastructure

Conclusion: Fighting iGaming Fraud on All Fronts

Part 1: The Challenges

Mention future forecasts to any insider in the iGaming industry, and everyone will tell you the same thing: the business, like the games it promotes, is one of high risk and high reward.

But understanding where risk comes from is the best way of underwriting it. So let’s first look at some very specific examples of how the market is transforming, and how these movements create the ideal environment for certain types of fraud.

1.1 Thriving in A Transforming Market

Online gambling: A growing market

Source: Statista

Yes, iGaming is growing, but it’s doing so in leaps and bounds that make it difficult to feel like you’re standing on firm ground. According to iGaming leaders, this has mostly to do with market-specific challenges such as:

  • Over taxation in France
  • Excessive regulation by the UK gambling commission
  • Move to countries with fewer regulations
  • Congested and tougher markets
  • Long-term shift in public opinion
  • Gambling ad restrictions in Spain…

And while there is a silver lining with the opening of new markets (especially in the US, Brazil and Asia, and the boom in mobile gaming), the issue of fraud tends to complicate the picture. In fact, the rate of fraudulent signups in iGaming can be as high as 26%, a number that far surpasses that of other industries like ecommerce or entertainment. And at the top of these challenges is the issue of bonus abuse, which showed a 72% rise between 2018 – 2019.

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