Online Gambling (or iGaming) refers to any activity in which players stake money on games of chance. This can include casino games, poker, sports betting and lottery tickets. It is legal in many countries, including some provinces in Canada and most members of the European Union.
How to Play and Avoid Fraud
Online gambling is a lucrative business for operators. It is estimated that the iGaming industry will generate $92.9 billion in revenue worldwide by 2023. However, it can also be a dangerous one.
How to avoid fraud:
iGaming has a high risk profile and is susceptible to sophisticated fraud. It is important for online casinos to implement KYC and AML procedures that meet compliance mandates. This can include using a risk-based fraud detection software solution, such as SEON.
How to play responsibly:
Online casinos should take measures to prevent the use of stolen credit cards by their customers and promote responsible gambling practices. They should also provide their users with self-exclusion and loss-limit policies.
How to gamble safely:
Gambling sites should always offer secure payment methods and ensure their users’ privacy. In addition, they should provide information about the laws and regulations of their country, so that the customer can make informed decisions.
How to avoid illegal gambling:
If a website claims that they can offer online casino or poker activities in the United States, they are likely violating US law and should be shut down. In Washington, for example, gambling is considered illegal if it involves any of the following elements: “staking something of value on an event or contest of chance” and/or “an agreement that a prize will be awarded in the event of a certain outcome”.