By Tamas Kadar, CEO and Co-founder, SEON

The shift to digital has fundamentally transformed the gambling world, welcoming us to the exciting era of iGaming. But, as much as we love the ease and reach of online platforms, they come with their own set of headaches, especially when it comes to keeping things safe from the prying eyes of fraudsters and bad actors.

In this article, we take a closer look at the risks lurking in the iGaming industry to see how they could mess with businesses, and chat about why end-to-end fraud prevention is like having a good bouncer at the door of your online casino.

Dealing with iGaming Fraud

iGaming has got a lot going for it. Unfortunately, It’s also a magnet for some unhelpful fraudsters. The front line in this ongoing battle? It’s all about getting to know your customers (KYC) and keeping money laundering (AML) at bay with some solid protocols. These aren’t just red tape; they’re your tickets to staying on the right side of the law, keeping your players safe, and holding onto your hard-earned reputation in an industry that’s often scrutinized.

Ultimately, if you think skimping on these regulations is a minor risk, think again. Getting lax here can hit iGaming operators with everything from eye-watering fines and the nightmare of losing licenses to taking a serious hit on their street cred. And let’s not forget the players – pile on too much paperwork, and they’ll head for the hills, leading to a revolving door of new users that never stick around.

Common Types of iGaming Fraud

Like many problems, getting on top of iGaming fraud first necessitates an understanding of the problem and its main forms. Below is a list of some of the main types of activities that we’re seeing affect those in the sector:

• Bonus Abuse: The exploitation of promotional offers through the creation of multiple fake accounts is a prevalent issue. While bonuses are effective in attracting new players, without proper restrictions, they can result in significant financial losses.
• Affiliate Fraud: Unethical third parties may employ deceptive methods, such as using stolen data or creating misleading domains, to siphon off profits illegitimately.
• Gnoming: A concept that involves the manipulation of games or promotions using multiple accounts controlled by a single individual.
• Chip Dumping: A tactic used in online poker where players collude to transfer funds under the guise of legitimate gameplay.

If not prevented, fraud won’t only impact the financial bottom line. It also has the potential to erode trust and could lead to regulatory scrutiny. Thankfully, the good news is that there are now highly effective fraud prevention solutions on offer to prevent them. As such, the task for iGaming operators is to ensure these solutions are onboarded and operational as quickly as possible.

Preventing iGaming Fraud and Staying Ahead of Compliance Requirements

In response to these challenges, end-to-end fraud prevention companies can offer a comprehensive suite of anti-fraud solutions tailored to the unique needs of the iGaming sector. Multi-faceted in their design, these solutions can help to reduce instances of fraud across the sector. More importantly, these solutions are allowing iGaming companies to find that sweet spot between following the rules and retaining slick consumer experiences.

While they don’t all work the same, there are a few key things to look out for when evaluating the effectiveness of modern fraud prevention solutions:

• AML Screening: Utilizing an advanced API, some modern fraud prevention solutions can facilitate both manual and automated screenings against global watchlists, enhancing regulatory compliance and risk management.
• Pre-KYC Checks: It’s important to find technologies that enable the early detection of potential fraudsters through device fingerprinting, IP analysis, and digital footprinting, thereby minimizing user friction and optimizing the KYC process.
• Real-time Transaction Monitoring: Fraud can happen in a split second, so having real-time transaction monitoring is a huge benefit for iGaming businesses. By flagging suspicious transactions and behaviour in real-time, solutions of this nature can ensure prompt action to mitigate risks.
• Customizable Rules for iGaming: Everyone knows their own risk tolerances. A versatile rule engine can allow operators to implement both predefined and custom rules based on their specific business insights and observed user behaviour.
• Machine Learning: Leveraging AI-driven machine learning, solutions like SEON continuously refine and suggest new rules, enhancing the precision and effectiveness of fraud prevention measures over time.

 Fighting Fraud Earlier and More Effectively

When it comes to fortifying iGaming platforms against fraud, embracing comprehensive fraud prevention solutions is a game-changer for operators. These solutions play a pivotal role in not just warding off prevalent fraud risks but also in bolstering compliance efforts. Moving forward, this enhanced focus on security will enable the iGaming sector to craft a safer and more reliable space for users, significantly boosting trust and satisfaction.

With the industry on an exciting growth trajectory, leveraging advanced fraud prevention tactics is crucial for its enduring success and integrity. Incorporating technologies like SEON, which specialize in identifying and mitigating fraud early in the customer journey, can make a world of difference. Early detection is key to preventing fraudsters from causing damage, enabling companies to intercept suspicious activities before they escalate.

Ultimately, this proactive approach not only safeguards the platform and its users but also streamlines compliance processes, reducing the friction and inefficiencies that can arise from dealing with fraud incidents after they’ve occurred. In an industry where reputation and user confidence are paramount, the ability to pre-empt and neutralize threats through such advanced solutions is invaluable.

For more information about SEON, please visit: https://seon.io/

Tony Plaskow, Commercial Director at Black Cow Technology, says that it won’t be long before multiplayer iCasino games will become their own genre, a similar effect to the explosion of multiplayer video games like Fortnite and Call of Duty.  

If you look at the most popular mobile and video games, it’s massively multiplayer online titles such as League of Legends, Dota2 and Fortnite that dominate the charts. What makes these games so popular? The multiplayer, interactive gameplay they provide.

Take a side glance at the online gambling industry and, until now at least, there hasn’t been a truly multiplayer experience available to players. But basic multiplayer experiences are starting to appear in different forms in the iGaming space – recent news of FanDuel’s acquisition of Beyond Play being an example.

The iGaming industry has been a little slow when it comes to keeping pace with the mobile and video games industry, but this is because multiplayer online casino games present significant technical challenges that we have had to work hard to resolve.

At Black Cow we have spent almost four years – and a lot of money –building a powerful and flexible multiplayer technology suite that can be used by any operator or supplier to develop any type of multiplayer game. This has been done with regulatory and compliance requirements in mind, too.

It’s great to see different companies taking different approaches to multiplayer games, and I’ve been lucky to work with several to help in their efforts to overcome the challenges presented – I was a Founding Director and Advisor to BeyondPlay and have seen Black Cow’s innovative Multiplayer Remote Gaming Server develop.

Multiplayer presents a massive opportunity for developers and operators. Why? Because consumer preferences are changing and this type of content is exactly what they are looking to engage with.

Outside of iGaming, people are seeking entertainment experiences that are social and interactive. They want to play with their friends, in collaborative teams, to enhance their gaming experiences. Applied to gambling, this means they want to enjoy the way they play in real-world casinos:playing side by side on a blackjack table, sharing a roulette spin or craps roll, or hitting a slot spin next to others. Why shouldn’t people have this kind of experience when playing online?

Suppliers and operators must now bring these experiences to desktop and mobile play if they are to meet player expectations, especially among the lucrative Millennial and Gen Z cohorts who are not interested in traditional, single-player, casino games like blackjack, roulette, and slots. Black Cow’s MultiPlayer Remote Gaming Server can be used to develop interactive multiplayer casino games to attract this younger demographic.

Just how operators and suppliers go about this will depend on the technology solutions available. For example, Black Cow’s interactive event-driven gameplay approach is diametrically different to BeyondPlay’s pooled stake concept.

Black Cow’s Multiplayer RGS allows multiple players to share an interactive experience on the very same game at the same time. This makes our product the only transactional multiplayer server in the market right now – players can enjoy the same base game in real time whether the same deck of cards, the same slot, to share a bonus round and winning experience together.

It can support any game type and provides a robust foundation for easily adding features and functionality such as community jackpots, bonus rounds and tournaments.

The advantages that can be unlocked through this content are significant. Multiplayer games help operators and suppliers create compelling experiences that foster strong player loyalty and brand awareness, in addition to the social, interactive, and ultimately more enjoyable gaming they provide.

For example, our technology is being used right now by the likes of Pixiu Gaming, PlayJeux Studios and Light & Wonder to create multiplayer slots. Playing in pods of 4 players, each player plays their own base game but, once one of the players in the pod triggers the bonus, everyone goes in and plays the bonus round together.

The first title to launch will be Light & Wonder’s Raging Rhino Multiplayer Wonderverse, set to hit online casino lobbies in the summer. This will appeal to fans of the original game, who can experience it in multiplayer for the first time while welcoming new players to the title and the format.

Using existing, player-favourite titles to introduce the multiplayer format allows players to familiarise themselves with how it all works through a game they already know well. This is the approach Light & Wonder is taking, with two huge classic titles to follow hot on the heels of Raging Rhino.

With each, the standard game is taken to the next level with a thrilling, interactive and fun set of multiplayer bonus rounds.

But this is just the start of what can be achieved via the Black Cow Multiplayer RGS and with multiplayer games in general. For me, the idea of launching multiplayer online casino games, with an experience similar to Fortnite and Roblox, is no longer a fantasy. The technology is now available to develop such a player experience, an experience that players are calling out for.

This is why multiplayer games are now hitting the headlines, and why the entire Black Cow team and I are so excited to be pioneering the tech required to deliver this content and the endless opportunities it provides.

CT Interactive has appointed Monika Zlateva as its Chief Commercial Officer (CCO).

Equipped with a strong background in business development and strategic marketing, Monika has a proven track record of driving growth and managing high-level business communications across various regions, including EMEA and Greece.

Throughout her career, Monika has showcased leadership by taking ownership of business strategy, sales initiatives and marketing campaigns. Her expertise lies in new business development, customer acquisition and retention, aligning these strategies with company values and objectives.

Monika has been instrumental in successful business strategies and upselling initiatives within the iGaming industry. Her strategic vision has consistently led to remarkable increases in sales and market presence in her previous roles. She has focused on enhancing the understanding of customer needs, expectations, and demands in both B2B and B2C environments through market research, successfully identifying insights that drive business behaviour and opportunities.

Possessing relevant international experience, including leadership roles such as Business Development Partner, Business Development Director and Regional Director of Business Development, Monika has developed and executed innovative strategies that have led to successful product launches and relaunches. Her ability to manage complex business communications and PR strategies further enhances her capabilities.

Monika holds a Master of Business Administration (MBA) in Business Administration and Management from the University of National and World Economics in Sofia, Bulgaria. She also has a Master’s degree in Language Interpretation and Translation and a Bachelor’s degree in Modern Greek Language and Literature from Sofia University St. Kliment Ohridski.