Online Gambling is a fast-growing industry that has become increasingly regulated. The iGaming sector is expected to generate a global revenue rate of over $92.9 billion by the end of 2023, as more and more countries legalize aspects of real-money gambling. However, as with any industry involving money changing hands, extensive regulations must be in place to prevent fraud and other malpractices that can lead to player loss and reputational damage.
One of the main challenges facing online casino operators is preventing fraudulent activity, including account takeover fraud (ATO), bonus abuse fraud, and credit card fraud. A risk-based antifraud solution that provides a deep understanding of the unique security threats and risks associated with the iGaming industry can help casinos identify and stop suspicious transactions before they happen.
A reliable e-wallet service can also be helpful in monitoring transaction activity and preventing unauthorized access to accounts. Regularly checking online gambling account statements for unauthorized transactions and using strong passwords and two-factor authentication can also reduce the risk of unauthorized activities occurring on the site.
While online gambling is a fun and exciting pastime, it can be addictive for some people, so it’s important to monitor your gambling habits and practise responsible gaming. If you find yourself losing more than you’re winning, consider seeking professional assistance from businesses that specialise in gambling addiction support. It’s also a good idea to set a budget for your online gambling and stick to it at all times.