July 24, 2024

Online Gambling

Online Gambling is the act of placing bets and wagering on games, events or other happenings via internet-enabled devices. It has been growing in popularity over the last decade, thanks to technological advances and convenience. Some states have made it legal for their residents to play online, and many casinos now offer a range of services and products to their players.

Fraudulent activity is a major challenge for operators in the gambling industry. It can take various forms, from attempting to abuse a bonus promotion by using multiple accounts, to trying to use stolen credit cards or IDs to make deposits. Some fraudsters even use a “betting bot” to automate their betting patterns.

Some individuals can develop a gambling addiction, which is a serious problem that affects both the individual and their family. Symptoms of this disorder include an increasing amount of time and money spent gambling, lying to others about their gambling activities, hiding money, and neglecting other responsibilities in order to gamble. Other factors that may contribute to an individual’s gambling addiction include socialization and cognitive distortions.

Some of the most common scams that target online gambling platforms include account takeover fraud, bonus abuse, and matched betting. These scams can result in the loss of a great deal of revenue for gambling sites, and also result in costly chargebacks and investigations. By acting as a pre-KYC check, SEON helps to weed out obvious fraudsters and prevent them from being accepted onto an online gambling platform, saving compliance teams time and money in the process.