Mobile Transactions in Online Gambling Skyrocket: So Too Does Cheating and Credit Card Fraud
Mobile transactions in the online gambling space has grown 95% over the last five years, and that trend continues as 2019 is now underway.
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While much of the growth has been pushed by the Asian market, mobile online gambling transactions continue to increase worldwide.
The 2019 Gambling Industry Report from Iovation notes that, in 2012, mobile financial transaction saw a 6% increase in comparison to 2011. However, the growth from 2018 to 2019 shows a huge 70% increase online gambling financial transactions.
Mobile growth represents a nice trend in the online gambling space; credit card fraud and cheating does not.
Iovation has pinpointed where the fraud is most frequent:
“Lone bad actors and serial cheaters aren’t going away, but a new class of organized fraud rings that are working collaboratively across the globe poses a major threat.
“iGaming businesses must evolve their response to such threats. Innovative technologies such as device intelligence, device-based authentication and data analytics have proven essential in helping operators to distinguish threats from the mass of legitimate players.
“In an environment where players expect payouts immediately, risk signals will have to be interpreted even faster with intelligence from disparate data sources integrated into dynamic decisioning rules.”
- Jagajeet Chiba, Gambling911.com
