The Risks of Online Gambling

Online Gambling

Online Gambling is a form of gambling where players place bets and win money by using the Internet. It is also known as e-gambling or i-gambling and can be done on a wide variety of platforms such as mobile apps, websites, and social media.

The Gambling Industry Has a Big Problem with Chargebacks

In the iGaming industry, operators face a number of challenges. These include strict regulations, large fines, and fraud.

Identity Theft for Online Gambling Fraud

In addition to credit card theft, a significant amount of iGaming fraud can be caused by identity theft. This can be done through various means such as email and social engineering, and it can happen to even people who don’t play iGaming.

Phone Top Up Abuse for Online Gambling Fraud

Like bricks and mortar casinos, online gambling operators have to watch out for nefarious players who want to use their sites to launder money or fund their accounts for illegal activities. They can do this by tricking users into making phone payments or stealing their account information.

Criminals, shady players and hackers will also try to figure out a casino’s PRNG (random number generator) to determine what hand is dealt before it happens. To combat this, popular poker and gambling sites reevaluate their PRNGs twice a year to make sure that they’re as fair as possible.

As iGaming continues to grow and more and more people enjoy the thrill of playing for real money, the risk for operators has become much higher. This means that they have to be extra careful about preventing fraud while also ensuring that their customers are satisfied and feel safe.