The International Casinos Exhibition (ICE) stands as a cornerstone event for the global gaming industry, annually congregating gaming professionals, products and service solutions from a wide range of sectors – betting, bingo, casino, esports, lottery, mobile, online, social, sports betting and street. This year’s conference, held in early February at London’s ExCel exhibition center, served as a hub for innovation, collaboration and networking, bridging the gap between retail-based and digital channels.
As the provider of a comprehensive, end-to-end fraud prevention and anti-money laundering (AML) solution, SEON was met with insights and opportunities at ICE within the ever-evolving landscape of anti-fraud technology. This recap distills critical takeaways, highlighting dominant concerns and the latest industry trends.
Navigating the Waters of Bonus Abuse
A recurring theme across the many discussions at SEON’s exhibition booth revolved around the pervasive challenge of bonus abuse (or cross-betting), highlighting the issue as the primary fraud concern. Consensus on the topic underscored a notable urgency for market solutions to address and curtail this issue, which, to many, loomed as an impossible task.
SEON’s conversations thus centered on demonstrating how our innovative offerings proactively combat bonus abuse, highlighting our unique approach to fraud prevention that goes beyond traditional measures. By leveraging players’ most comprehensive online identities – comprised of 90+ unique digital and social signals and behavioral patterns – called digital footprinting, we proactively identify bonus abusers, prevent bad actors from signing up, and stop other fraud types in their tracks.
Built In AML and Compliance
Beheld to evolving regulatory and compliance standards, Gaming companies seek done-for-you solutions in which AML and compliance are built in, enabling the easy completion of checklists for PEP, sanctions and crime lists. Deploying end-to-end fraud prevention and AML in a single solution like SEON saves operators the pain of integrating different point solutions and outperforms legacy models that fail to meet the demands of today’s sophisticated fraudsters.
Using advanced digital footprinting, device intelligence and AML screening, SEON delivers a comprehensive view of player activities and allows the creation of custom fraud and AML rules based on personal risk appetites.
AI Increasing in Fraud-Decision Processes and Pattern Detection
Following the exploration of bonus abuse and AML and compliance, another significant focus at ICE concentrated on integrating artificial intelligence (AI) in enhancing fraud-decision processes and pattern detection. While most market solutions today rely only on blackbox machine learning (ML) without explaining or showing results or decision-making, SEON uses both blackbox and whitebox machine learning to deliver fast and accurate decisions as well as a transparent breakdown of the process followed to reach its choice. This gives visibility for fraud and risk teams to understand why a particular player is approved, declined or deemed suspicious.
By leveraging blackbox and whitebox machine learning, SEON enables lightning-fast AI-driven decisioning and the ability to customize fraud scores to specific business needs. This customization allows for a high degree of personalization and transparency to enhance fraud detection, refine risk decision-making to reduce manual reviews and transform fraud management strategies.
Diving Deeper into Machine Learning
As gaming operators’ risk tolerances vary from region to region, SEON’s rules and scoring engine are designed to support varying levels of risk needs for different operators and convey the logic in its algorithmic choice-making to ensure operators understand the rationale behind every decision.
Discussions around machine learning revolved around its use to uncover patterns indicative of bonus abuse, affiliate fraud and multi-accounting, highlighting SEON’s ability to tackle operators’ critical needs for detecting, comprehensively understanding and forecasting fraudulent activities, showcasing our commitment to equipping businesses with the tools they need to address fraud preemptively.
Benefits of SEON for Gaming Customers
Deriving significant value, Gaming clients are leveraging SEON for:
- Bonus Abuse Prevention
By proactively identifying bonus abusers through insight into players’ digital footprints, SEON helps operators understand the intricate patterns of abuse and helps them stop fraud before it impacts business.
Learn how Betflag reduced bonus abuse by 15% - Risk Profiling
Using extensive device intelligence and digital footprinting, SEON creates a multi-layered defense mechanism against fraud, ensuring that platforms remain secure and trustworthy.
See how Soft2Bet automated risk reviews, freeing up 40% of their resources.
Standing Out in a Crowded Space
As we reflect on the insights gathered from ICE, it’s clear that the path forward for the gaming industry is one of collaboration and technological innovation. The challenges are significant, but with advanced tools and a shared commitment to combating fraud, the opportunities for growth, security and success are immeasurable. SEON remains at the forefront of this journey, dedicated to evolving our solutions to meet and exceed the demands of an ever-changing industry, delivering steadfast solutions that align with the dynamic needs of our partners. Together, we are not just responding to the landscape of fraud but shaping its future, ensuring a safer, more secure gaming environment for all. We look forward to next year’s ICE event – this time in Barcelona!
