Euro 2024's early stages spark a significant 8.5-fold rise in betting enthusiasm.
Fans Are Flocking to Gaming Platforms for Euro 2024 🏉💻
The numbers don't lie - gaming activity among fans is skyrocketing, thanks to increased interest in both the sporting event and betting itself. With Euro 2024 on the horizon, it's a golden opportunity for gaming platforms to make a major splash. But it's not all about making a big show – these platforms need to tread carefully to ensure they protect their players and reputation.
Roger Redfern-Thirkell, vice president of the gaming department at IDnow, puts it succinctly: "Only when operators can confidently verify accounts and allow the right players to participate can they effectively combat fraud."
Potential fraud attempts are everywhere, and as history shows, they're not to be taken lightly. During the last World Cup, a whopping 250,000 British fans went rogue and used illegal bookmakers' services – that's triple the number from the previous year.
So, what's a gaming platform's game plan?
Advanced Fraud Prevention Technologies: platforms are going high-tech, adopting real-time AI systems that analyze user behavior patterns, such as spending habits and login locations, to flag anomalies. SEON's AI-powered solutions, for instance, scrutinize digital footprints, device data, IP addresses, and behavioral biometrics, to detect fraud attempts like multi-accounting, bonus abuse, and gnoming.
Multi-Layered Verification: KYC protocols, device fingerprinting, and behavioral analysis are combined to curb fraud rings and automated scams. By integrating these tools, companies like Sumsub can combat deepfake-generated IDs and AI-driven bonus exploitation.
Compliance and Sanctions Monitoring: operators are implementing real-time PEPs and sanctions checks to guarantee regulatory compliance during cross-border transactions, especially in regulated markets like Europe.
Balancing Security with User Experience: platforms like SEON are using risk-based verification to minimize friction during peak periods like Euro 2024, avoiding frustrating legitimate users with excessive checks.
Collaborative Industry Efforts: the European iGaming sector, which lost €5 billion to fraud in 2024, is focusing on cross-platform data sharing to identify repeat offenders and emerging fraud tactics, such as money laundering and identity theft.
By staying one step ahead of the game with these strategies, gaming platforms aim to deliver a secure experience to their players while keeping things smooth and enjoyable during major events. So, buckle up and get ready for Euro 2024 – it's gearing up to be a thrilling ride! 🎉🏆🌍
- With the arrival of Euro 2024, sports-betting enthusiasts may find gambling opportunities in casino-and-gambling platforms, but these platforms are utilizing advanced fraud prevention technologies to create a secure gaming environment.
- The 2024 gaming platforms will employ multi-layered verification methods, incorporating KYC protocols, device fingerprinting, and behavioral analysis, to curb unwanted fraudulent activities such as multi-accounting or bonus abuse.
- To adhere to regulatory norms in regulated markets like Europe during cross-border transactions, these platforms are implementing real-time PEPs and sanctions checks, safeguarding both their players and reputation from potential fraud accusations.
- In a collaborative bid to combat fraud within the European iGaming sector, which is estimated to have lost €5 billion in 2024, gaming platforms are focusing on cross-platform information sharing to learn from each other, identify and deter repeat offenders, and counteract emerging scams, like money laundering and identity theft.
