A gambling site is a website where people can wager on games of chance or skill. It’s also often known as a casino, sportsbook or poker room. Gambling sites are highly attractive targets for fraudsters due to their accessibility, traditional ties with money launderers and the sheer volume of transactions that occur daily.
The most common gambling frauds include multiple account abuse, stolen credit card details, fraudulent betting activity and matched betting scams. In some cases, fraudsters will also look to camouflage their true identity by creating a new online persona or using different devices when playing.
Fraudulent activities can have a massive impact on the bottom line of a gambling site, regardless of their size and industry. For example, an excessive amount of chargebacks will increase a casino’s risk of being banned from a payment processor’s network – and the associated revenue loss. Likewise, bad reputation with regulators can result in fines and even being forced to close your business.
SEON’s granular, end-to-end platform is designed to catch all forms of gambling fraud, from multi-accounting and bots, to affiliate fraud and money laundering. We can even help you comply with AML regulations, where they are in place, by acting as a pre-KYC check to safely weed out obvious fraudsters – saving you time and money on running full document checks for players who will never be accepted anyway. This is particularly important for gambling operators, who have to take the stance of ‘zero tolerance’ towards fraudulent activities to maintain their licensing. This is why a robust anti-fraud solution like ours is so vital for any online casino or betting operator. Find out how to protect your site with a free trial of SEON today. You can get started in just a few minutes.