Modern Security Software: Manage Business Risks Better
The gambling industry, like any highly profitable sector, is subject to operational risks. But with the right approach, crises can be supervised. The business owner can lower their impact on the enterprise or use it for the benefit of the company.
Connecting security products is an effective method of dealing with risks. These releases perform some routine business tasks: they check payments, identify fraudsters, and adapt the site to the specifics of local legislation.
The Online Casino Market provider offers to install programs to protect the casino business. We cooperate with 20+ proven developers, and also offer a demo version of the program without any pay.
Peculiarities of Risk Management in Gaming Projects
Danger control at a gaming enterprise is a system for predicting hazards and minimising the influence of questionable situations that have already occurred.
The concept of this phenomenon is related to planning strategically. This is the study of new sales markets, analysis of the regulatory framework, and assessment of market conditions and the level of competition in a particular segment (bets, casinos, lottery draws).
Gambling representatives face the following main areas of danger:
- financial (unscheduled costs — for giving out jackpots and large prizes, repayment of debt obligations, transactions of fines and penalties);
- regulatory (changes in the legal policy of selected jurisdictions — restrictions on advertising and rates, new rules for issuing a licence);
- reputational (causing a negative image to the operator due to unfairness of the market competition);
- cyber (illegal interference with the work of a site due to hacker attacks, installation of spyware, technical nuances);
- transparency issues (failure to comply with the payment policy for the terrorism and politically exposed person financing).
All hazard groups are interconnected. If an iGaming company, for example, is faced with changes in taxation (regulatory risks), then this will entail additional financial costs.
The posting of untrue information can lead to an unscheduled inspection of the operator: regulatory losses follow reputational ones.
How Gambling Companies Organise Risk Control
The approach to organising risk management depends on the legal status (size, type of activity) of the operator.
Let us take a look at common situations:
- Independent work. Large companies and iGaming holdings have separate strategic departments. They do a tremendous amount of work related to the regulation of local markets, analysis of the competitive environment, and building relationships with partners and authorities that set regulations.
- Transfer of functions to outsourcing. This approach is typical for medium and small businesses. Companies often delegate risk control work along with accounting and legal support.
- Relationship with the parent company. Franchisors are in charge of the control and development strategy of subsidiaries. This is access to new markets, presentation of innovative developments, timely licensing and other operational issues.
- Installing security software. A brilliant choice for enterprise protection. The solution performs some routine tasks related to identifying gamers, verifying payments, and monitoring the site perimeter safety.
Risk Control Strategies: The Experience of Famous Companies
In large gaming organisations, risk management work is carried out by separate departments. The strategy depends on the characteristics of the provider's activities and its presence in specific regulatory markets.
Consider the experience of popular iGaming brands:
The company is an innovator in the developmental field: entertainment content, platforms, and loyalty systems. The strategy is based on well-timed product patenting, certification and licensing in prestigious jurisdictions.
Evolution Gaming pays close attention to the protection of IT infrastructure: communication channels, cloud storage, and information centres. In addition, it collaborates with partner operators, offering software with already built-in security systems.
The products of the Swedish developer are presented in 50+ countries. NetEnt's key task is to promptly respond to changes in the legislative framework, as well as hassle-free licensing of new solutions (games, platforms, turnkey franchises).
Risk management at NetEnt is based on:
- combating corruption and illegal money transactions;
- supporting responsible gambling;
- compliance with and regulation of operations;
- investing in information technology and infrastructure for iGaming projects.
As Europe's largest bookmaker and lottery operator, Sazka Group faces the risk of paying out big winnings daily. To minimise financial losses, the creator lays a certain margin in the cost of rates.
When forming an event line, Sazka Group uses the average value method. Among the sets of coefficients, there are no sure bets, over- or underestimated numbers. The provider offers a balanced betting line: even a few big winnings by gamblers will not change the overall picture of the company's profitability.
Key Advantages of Project Security Programs
The main advantage of the product is its multitasking. The solution performs a wide range of operations related to the protection of a site from various threats. The program saves the entrepreneur from many routine tasks, performing daily control.
The main functions of the security software:
All transactions are analysed using mathematical algorithms in order to:
A set of operations and rules for user verification in order to:
Gambling site perimeter security
The product is based on modern IT tools designed to:
The Best Casino Site Security Product Vendors
At Online Casino Market, you can integrate products from trustworthy developers:
- TransUnion Company. The group has a FraundForce gamer ID system of multiple levels based on cryptographic encryption technology. It evaluates accounts and the history of personal devices in order to identify suspicious associations.
- Accertify Inc. The provider introduces PSD2 class software for checking users and their money transactions. The software is based on a human-made neural network that tracks payments and behaviour patterns. The system instantly detects fraud with bank cards, accounts, and access levels to the casino site.
- AA Casino LTD. The developer offers security components for online and offline gambling. The manufacturer's assortment includes a unique TrustChain service. The program checks potential customers and B2B partners using Blockchain transfers.
The Main Things about Risk Control in Gambling
Request well-thought-out systems to protect your iGaming business from inner and external threats. The Online Casino Market company offers the best programs for the safety of projects and effective management of risks.
- Sphere representatives face financial and reputational risks, cybersecurity and legal regulation issues. Proper control will help to decrease the impact of risks on the activities of operators.
- Companies can delegate work to outsource or organise internal hazard control. An excellent solution is to install software to secure projects.
- The Online Casino Market provider recommends products from TransUnion Company, Accertify Inc, AA Casino LTD and other trusted developers.
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