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Don’t Gamble with Passwords – With MIRACL, it’s one PIN and You’re In

George Miller

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Don’t Gamble with Passwords - With MIRACL, it's one PIN and You're In
Reading Time: 2 minutes

 

Revolutionising passwords. Introducing the world’s first 100% software multi-factor authentication.

This August, tech market disruptor MIRACL Gaming Solutions, launches a highly innovative, new authentication solution for the gaming sector – MIRACL Trust®.

Challenging the increasingly out-dated concept of passwords and stored credentials, this new, highly-secure solution is set to revolutionise the way online gaming platforms provide authentication for online financial transactions.

Utilising cutting edge military-grade cryptography and 7 patents to form what’s called a Zero Knowledge Proof, MIRACL Trust® requires no personal user data to be either stored or sent for an authentication and uses a simple 4-6 PIN digit concept for access. There is no database associated with MIRACL Trust® that could represent a GDPR liability and there is no risk of credential stuffing, man-in-the-middle or phishing attack – three of the most common cybersecurity threats.

MIRACL already supplies the world’s only 100% software, multi-factor authentication (MFA) PIN based solution to customers such as banking giant Crédit Agricole and consumer credit leader, Experian. MIRACL Gaming Solutions provides the opportunity for gaming sites to capitalise on this new, highly secure authentication too.

Passwords are currently the cause of 81% of hacks and 70% of support queries. These two factors are responsible for a large proportion of customer churn so addressing them will boost gaming operators’ customer retention and their overall profitability.

CEO of MIRACL, Rob Griffin comments, “Everyone hates usernames and passwords; users and operators alike. They represent the single biggest threat to safe online gaming and need to be replaced immediately. During the last year, the body of usernames and passwords that is for sale on the dark web has ballooned so things have reached a tipping point that has rendered them no longer fit for purpose in a real-money gaming environment with growing regulatory pressure and fraud considerations. It is time to re-evaluate. MIRACL Trust® enables secure log-in and transactions across browser or app, mobile or desktop with a 4 digit PIN, supported by patent-awarded IP that enables the most secure multi-factor authentication on the market. It’s a world first and a concept that I believe is a no-brainer for the highly active online gaming sector. ”

In gaming, access devices are very personal to given users. Without knowing the actual identity of a given user, it is impossible to manage responsible gaming, protect customers’ assets, mitigate fraud and support self-exclusion. The MIRACL Trust® provides binary proof that ties a given user to given authorised access devices.

Its’ MFA is in-app and entirely cross-platform, providing a consistent user interface. Since it works in-app, there is no impact on conversion rates from users having to check non-secure messages outside the app. MIRACL Trust® works in browser and desktop without requiring a mobile.

The timely global release comes ahead of the SBC Betting on Sport show this September where the product will be officially launched on stand K22.

The platform operates with a ‘pay as you go’ model that is cost effective and manageable.   The MFA software based concept is highly secure and the PIN number easily memorable for users. A message for the online gaming sector – stop gambling with outdated passwords. With MIRACL’s ‘one pin and you’re in’ – it’s as simple as that.

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Industry News

Mindway AI Appoints Birgitte Sand as a Board Member

Niji Narayan

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Mindway AI Appoints Birgitte Sand as a Board Member
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Mindway AI has announced the appointment of former director-general of the Danish Gambling Authority Birgitte Sand as a board member.

Being the previous director-general at the Danish Gambling Authority for 12 years, Birgitte Sand brings extensive experience with regulating the gambling industry. She was responsible for a gambling licensing regime covering both betting, online casino, land-based casinos, lotteries and gaming machines. Today, Birgitte Sand is the CEO and owner of Birgitte Sand & Associates ApS and provides expert advice to governments and the gambling industry.

With Birgitte Sand entering the board of directors, the regulatory perspective in Mindway AI’s ongoing pursuit to create a sustainable and safe gambling experience is strengthened.

“We are very pleased to welcome Birgitte Sand as our new board member. From her many years as Director General at the Danish Gambling Authority and her national and international recognition, Birgitte has a level of regulatory expertise and insights that will further support our vision to improve responsible gambling and create a sustainable gambling environment,” Rasmus Kjaergaard, CEO of Mindway AI, said.

“I am extremely pleased to have this opportunity to support the expansion and deployment of software solutions that have so much to offer in both prevention and protection. Innovation in this area is highly sought after, and Mindway AI has in a short time created convincing solutions and at the same time demonstrated great potential,” Birgitte Sand said.

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Industry News

Holland Casino’s Gross Income Down 54% in 2020

Niji Narayan

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Holland Casino’s Gross Income Down 54% in 2020
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Holland Casino has reported a gross income of €333m for the full year 2020, a 54% decrease from the prior-year period.

The operator reported a loss before corporate tax of €80.7m, a 190% decline from 2019. Visitor numbers meanwhile were down 60% year-on-year to 2.5 million, largely due to government restrictions amid the ongoing Covid-19 pandemic, with the firm’s 14 branches closed for the majority of 2020.

Throughout the year, the venues were completely closed for 143 days, open with restrictions for 151 days, and open without restrictions for 71 days. Average spend per visit did, however, increase by 14% year-on-year to €133.

“Despite the constantly changing circumstances and major challenges that this crisis year caused, I firmly believe that we will get through it well,” Erwin van Lambaart, CEO of Holland Casino, said.

“This is due to the resilience of our people, general government support measures, focus on cost control and a clear strategic investment vision for the future. Together, this has meant that we were always able to anticipate the consequences of this crisis.”

Looking to the future, the operator commented: “Holland Casino is a cyclical company and will therefore suffer from the expected economic recession. Nevertheless, the company is optimistic about the future. The restructuring means that everyone is in the right place, the organization is more efficient and agile, and there is a future-proof new structure that guarantees continuity.”

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Industry News

UK Court Clears William Hill’s £2.9B Takeover by Caesars

Niji Narayan

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UK Court Clears William Hill’s £2.9B Takeover by Caesars
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William Hill has said that its £2.9bn takeover by Caesars Entertainment had been cleared by a UK court despite shareholder protests.

The bumper merger had been held up by a court hearing after minority shareholder HBK Capital Management raised concerns about disclosures relating to the deal.

HBK and fellow US hedge fund GWM Asset Management both wrote to the board arguing that the terms of the joint venture were not properly disclosed by William Hill last year.

The court process was delayed for almost three weeks, but in the latest statement, the bookmaker said the deal had been sanctioned by the court.

The deal, which was agreed in September, highlights efforts to cash in on the burgeoning US betting market amid a relaxation of regulations.

“The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a truly exciting prospect,” Tom Reeg, chief executive of Caesars, said.

“William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing US sports betting and online market.”

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