From iGaming to online casinos to sports betting and more, the world of online gaming can offer fun, excitement and camaraderie. But it also offers new opportunities for fraudulent activity, which is why EVS is committed to shaping the future of sports betting verification. Our team recently attended the annual SBC Summit North America, where we met with more than 5,000 other delegates, 1,200 operators, and 500 affiliates to help ensure a secure and trustworthy betting environment.
Let’s take a look at how the sports betting industry has evolved, the particular security challenges it faces, and what EVS is doing to promote iGaming and sports betting security.
The Evolution of Online Gaming & Sports Betting
Since The Supreme Court ruled to legalize sports betting in 2018, the iGaming and sports betting industry has gained massive online traction, and it shows no sign of slowing down. Innovations like parlays, which allow users to combine multiple wagers into a single bet, along with improved in-game betting products and more targeted personalization, have exponentially increased the sports betting visibility and experience.
Recent Goldman Sachs research forecasts that Americans will legally spend $45 billion on sports betting each year once the market is mature, and that time is fast-approaching. So with all eyes on the dime (that’s sports betting slang for a $1000 bet!), safety and security are top priority for gaming brands and consumers.
Top Cybercriminal Tactics You Need to Be Aware Of
It’s one thing to know that effective fraud prevention tools exist, and it’s a completely different beast to take stock of your current situation, assess your needs, and find tailored solutions that fill in the gaps. If you’re not sure where to start a fraud needs assessment for your gaming or sports betting company, these are the top five ways that cybercriminals attempt to attack your defenses and harm your customers.
How EVS Plays a Vital Role in Fraud Prevention
Online gaming and sports betting can only function if fraud is detected and stopped. New schemes are constantly developed by cybercriminals and fraudsters, which means that online identity proofing solutions can’t afford to simply maintain the status quo. New security measures must constantly evolve alongside criminal activity to protect brands and users from attacks.
As a cutting-edge identity verification provider, EVS offers a suite of end-to-end fraud prevention solutions designed to meet the sports betting industry’s most difficult and unique security challenges. Our signature solutions have proven effective in verifying consumers’ age, location, and identity, thereby preventing fraud before it occurs.
Key EVS Solutions that Promote iGaming & Sports Betting Safety
Gaming operators are searching high and low for creative ways to enhance the user experience while optimizing resources, creating seamless user experiences, and remaining competitive in the market. Combatting the continual rise of online fraud is a full-time job, and there is a growing need for comprehensive fraud prevention strategies that not only keep gaming operators compliant with current regulations, but protect their own and their customers’ assets.
EVS’s suite of fraud prevention solutions offer comprehensive tools to verify consumer information and prevent fraud before it occurs. Our customers most frequently integrate the following EVS solutions (or a bespoke combination of all three) into their existing fraud prevention strategies for comprehensive coverage that deflects even the most skilled cyber attacks:
By partnering with EVS, sports betting and gaming operators can reduce fraud, protect their customers, and maintain regulatory compliance. Taking thoughtful identity verification steps now can contribute to your company’s and the entire industry’s growth and success.
