iovation launches online gambling fraud solutions

Thursday 29 August 2019 13:08 CET | News

iovation, anticipating the challenges in the US online gambling market, has launched a new package of solutions through iovation and TransUnion.

The product suite focuses around the onboarding of new players and helps US online gambling operators comply with new regulations, combat fraud, and facilitate the player experience. Moreover, the US gambling solution offerings combine iovations digital identity solutions that uses device behaviour and TransUnions identity verification solutions, helping to protect the entire players journey.

Specific issues that iovation anticipates around player onboarding and solves for US gambling operators include:

  • Age verification - In all states, the legal online gambling age is 21, however, underage people are going to try and participate;

  • Bonus abuse - Many online gambling companies provide incentives like money or credit for betting to attract new players and grow existing relationships. Fraudsters exploit these programs which result in real losses for operators;

  • Credit card fraud - Since 2014, credit card fraud increased in online gambling by 155%, with an average annual growth of 39%;

  • Managing play by boundaries - With online gambling being legal in one state and then illegal within a neighboring state, operators are going to need to pinpoint a gamblers location and limit play if needed;

  • Self-exclusion - When a player admits they have a gambling problem and ‘self-excludes’ from a gambling site, the operator is now accountable for ensuring the player does not resume gambling activities or potentially face penalties.

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Keywords: iovation, US, online gambling fraud, onboarding, regulations, fraud, identity verification, credit card
Countries: World