The gambling industry is full of risks. However, when it comes to the protection of players, operators don’t want to gamble with technologies.
Read this article to find out about the most effective solutions for managing player risks as well as the best tools for this task.
Risk management is one of the hottest topics for discussion in business news on the gambling industry. Of course, it is almost impossible for business owners to protect themselves from all risks. At the same time, thanks to innovations in technology, some of the problems connected with security won’t seem so great.
What is online casino safety?
Online casino safety can be considered from two sides – an operator’s and players’. Casino business owners face risks connected with gaming operations and security. Mistakes in this vertical may cost them pretty much. That is why operators do everything possible to protect their online businesses from data leakage or other hardships, such as compliance failures, a breach of gambling regulations in a specific jurisdiction, financial fraud, etc. Mitigation of risks starts with the assessment to understand a potential danger. Risk assessment management always requires knowledge of the legal framework and current law, which are constantly changing. In addition to this, operators need to detect suspicious gambling cases in time to prevent money laundering and other financial crimes. This can be done via monitoring systems, which allow them to get notifications about such cases as soon as possible.
From a player’s perspective, casino safety has another meaning. Casino users want to gamble in a safe environment, on a reliable platform where the results are fair and winnings are paid out in time, without delays.
When are players at risk of being hacked?
Speaking about online security in general, it is important to mention that hackers are watchful. The gambling industry is associated with a pot of money, that is why online casinos are often attacked by them.
For many gamblers, cyber threats aren’t a myth. There are several frequent situations when players’ accounts are at risk:
- weak password – a strong password considerably protects account access on any website, so it is better not to neglect to create a good combination of letters, special symbols, and numbers;
- malware on your computer – it can be used by hackers for stealing passwords for gambling accounts as well as PINs of credit and debit cards and other banking information;
- phishing – it is fraudsters’ another method of how to get confidential data of web users.
Ways to avoid such situations
- Gamble only on licensed iGaming websites, which ensure high-level data protection and security.
- Check whether the website isn’t fake.
- Make sure that a casino offers licensed games.
- Read reviews on a gambling platform.
- Don’t provide the login and password information to third parties.
Technological aspects of online casino security
It goes without saying that the reliability of a gambling brand has a considerable influence on its image. This makes customer protection a top priority. There are many ways to protect casinos from risks. The main task for operators is to implement the most efficient solution into their websites.
The IT industry is developing by leaps and bounds, creating cutting-edge technologies for security insurance. Let’s consider the most widely-used methods that online casinos use to protect players and themselves.
Encryption technology
Encryption is the first word that comes to mind when we speak about online casino safety and security. It means the transformation of the data from the usual text into special symbols, which are unreadable.
There are several types and standards of encryption used by security specialists. As for online casinos, Secure Sockets Layer (SSL) is used for their protection. It is a protocol responsible for a secure connection between devices (for example, a casino’s server and a player’s computer). SSL puts users’ data into code, making it impossible for cybercriminals to steal casino customers’ personal details. Every legal gambling platform should have an SSL certificate, which proves that the website is safe to use.
High-quality software
The importance of risk management software can’t be overestimated. More and more iGaming services providers use technological solutions, which allow them to avoid various types of risks. For example:
- detection of suspicious multi-accounts;
- detection of players who have signs of gambling addiction;
- fraud management;
- etc.
To make a long story short, risk management software is any software, which is aimed at monitoring, detecting, assessing, and analyzing risk factors.
Two-factor authentication
2-factor authentication is a basis for customer data protection on the majority of reputable iGaming websites. This approach ensures data safety while players replenish the balance at an online casino or during other transactions. Operators, which have an IT department can develop such solutions in-house. Others can buy ready-made products. Some software developers offer multi-factor verification systems, which use various characteristics, including but not limited to age, biometrics, cookies, etc.
Automatic backups
Any online casino is a database, which consists of important information necessary for business operation. That is why the loss of data can result in financial losses and other difficult situations. Automatic backups are the best solution for ensuring that an online casino’s data will be saved. There is a big variety of backup solutions available for websites. It can be virtual or cloud storage, which allows operators to forget about the fear of losing data.
Besides, even the gambling regulations of some countries emphasize the necessity of having software that will protect a website from shut-downs. Even without referring to the law, temporary suspension of a casino operation may lead not only to lost revenue but also to a damaged reputation of a gambling brand and customer disloyalty.
Is a random number generator important for a casino’s security?
From the viewpoint of a player, a random number generator is a guarantee of an iGaming website’s security. In other words, the reliability of an online casino is based on users’ trust. RNG is special software, which determines a game’s outcome. It randomly creates combinations with figures, including winning combos.
It is worth mentioning that casinos are required to obtain certificates, proving that slot machines’ or other games’ results are fair and aren’t fixed by third parties. Licensed casinos, which comply with the requirements, usually have such documents. That is why it is highly recommended for players to gamble only on regulated websites.
Other player security concerns worthy of attention
Player risks aren’t only those related to technical aspects of a casino functioning, but also those connected with the prevention of problem gambling. This issue is under the constant control of gambling regulators who try to introduce new laws, which can help to decrease the problem gambling rate.
Operators, in their turn, also do everything possible to comply with requirements and fight against gambling addiction. Online casinos protect customers by using various tools, which allow them to monitor and detect players with gambling addiction as well as to analyze users’ behavior and create lists of common signs of problem gamblers.
This became possible with the usage of such cutting-edge technologies as machine learning and artificial intelligence. These solutions allow collecting behavioral patterns of gambling addicts. Among them are the time spent at a casino, amounts of deposits, etc. With the help of the API based on machine learning, operators can get all the necessary data without the involvement of human resources. Artificial intelligence ensures real-time data collection for operators to notify their customers about possible harm.
The development of the IT industry influenced the gambling vertical as well, especially its security. Player risks can be eliminated by the application of various technologies, including machine learning. The software oriented towards the online casino sector can considerably simplify the processes of detecting risks and their prevention.
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