Analysis on online gambling mobile use, fraud and more

Friday 1 February 2019 09:31 CET | News

iovation has revealed an analysis of the trends that drove online gambling in 2018, including fraud and authentication insights.

Key findings around online gambling in the report include:

  • transactions processed via mobile devices grew at an average annual rate of 95% from only 6 percent in 2012 to 62% in 2017 to 70% of overall online transactions in 2018;

  • the growth of game abuses and cheating like chip dumping and player collusion continued in 2018 but slowed from 55% growth in 2017 to an increase of 12%;

  • over the past five years, credit card fraud increased by 155% with an average annual growth of 39%.

The report also reveals that operators are under increased regulatory scrutiny. For instance, fines against gambling operators in the United Kingdom rose from GBP 1.6 million to GBP 18 million from April 2017 to 2018 for money laundering violations and unfair practices. The UK Gambling Commission issued another round of fines totalling GBP 14 million in November 2018, so this trend doesnt look to be slowing.

With the convergence of offline and online identities, its important to fight fraud and protect customers across the entire lifecycle without degrading the player experience. According to iovation, this can only be achieved by combining seamless customer authentication with next-generation fraud prevention, protecting against both existing and emerging threats.

The iovation 2019 Gambling Industry Report is based on detailed analysis of its more than 518 million transactions from more than 100 gambling operator and platform customers in 2018.

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Keywords: gambling, iovation, fraud prevention, chip dumping, player collusion, authentication
Countries: World