Getting It Right: iGaming Risk Management

Getting It Right: iGaming Risk Management


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Key takeaways 

Why does fraud continue to be a persistent problem for iGaming operators?

One of the biggest issues for operators is the issue of data being siloed across different products & associated departments. For example, the customer lifecycle and the data from this stage is often detached from the operational side. The industry is unique in that it has three key risk areas (Transaction Fraud, Verification & Gameplay) all in one operation and because of this, there isn’t a turnkey solution that solves everything. Each part of these has its shortfalls so operators attempt to bulk products together to enhance the player journey and their security. In the UK where you have verification and background checks enforced, you can scrape data using a source like companies house to bypass verification products. Multi accounting is often done by people allowing others to use their identity and so on. A sophisticated bonus abuser can bypass all these steps one by one. – Ozric Vondervelden.

How can iGaming Operators begin to work on improving their risk operations & used data more effectively?

Operators are missing a trick in not aggregating all the data they handle across transaction fraud, verification & gameplay into one holistic data viewpoint.  The fraud team looks at one set of data, the payment team looks at another piece, with huge value in the obfuscation of data that isn’t utilized. Alongside that, you have CRM & marketing team that looks at gameplay data which is usually quite manual, and won’t be in contact with others despite the fact it’s valuable to each other. Then there are the issues surrounding data integrity, with legacy platforms there’s a lot of aggregated data that doesn’t communicate very well, and in some cases, can be completely stale. – Ozric Vondervelden.

How could a bonus abuse scheme operate and what can be done to spot it early?

Smart multi accounters will use techniques like using a unique mobile for each account creation as well as refresh their IPs to present the idea that they are an honest bettor signing up. At the payment stage of their journey, they would utilize virtual cards, as these show the same BIN number which can be the same as a physical counterpart which means you can’t automatically act on these. All 11 players can then take the bonus abuse and continue to optimize the value of their play with a similar strategy. This isn’t correlated between different departments as each team handles a different part of the player journey, and they are incentivized as such. Combining this information you will find clear patterns but for a lot of operators – this isn’t something they are considering. – Ozric Vondervelden.


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