Fraud Prevention in Online Sports Betting

Do You Know Sportsbook Fraud Prevention?

Sports betting has been the hottest topic in online gaming for quite some time now.

But do you know how you can tell things are really getting serious?

When big name firms start getting other big name firms involved in risk-management strategies.

This is a signal to all parties that, first of all, the amount of money changing hands is significant enough to justify sizeable investment on the parts of major players. Decisions like that have to be backed by a ton of research, justified to multiple levels of oversight (including at the Board level), and require considerable amounts of time and money.

When blue chip firms get involved, players can be sure that a trend has officially hit the mainsteam!

With the recent news that Accertify has partnered with Hard Rock Sportsbook to provide fraud protection for its mobile sports betting platform, players are being served notice that the industry’s biggest trend is on track to get bigger still.

Accertify is a wholly-owned subsidiary of American Express. Hard Rock is one of the world’s most recognized brands

The Fraud Squad

Is fraud really such an important issue in Sportsbook gambling?

In a word, yes.

It’s not simply a matter of individual bad actors trying to take advantage of a still new, relatively wide-open system (and sometimes facing significant prison time as the reward for their actions!)…

… no, no no!

As Tim Donaughy will tell you, there are a lot of people who stand to make a whole lot of money from irregularities in the world of sports betting.

There are athletes and coaches who can accept payments to modify their actions and decisions when the game is on the line. There are the referees, umpires, and officials who are similarly motivated to put a proverbial finger on the scale. Of course, there are also the gamblers themselves! And yes, organized crime still plays a role too.

Any and all of these parties can catch a gargantuan payday relatively easily in the Sportbook world with even a relatively small misdeed.

Remember that a game’s outcome doesn’t necessarily have to change for the outcome of wagers to change! A last minute field goal can be the difference between covering or not covering a spread…

… and if and when that happens, millions of dollars change hands worldwide.

With so many people so deeply incentivized to attempt to modify gaming actions (even in small ways), it absolutely makes sense to develop the strongest safeguards possible.

After all, when individuals and groups close to the inside of the action start cheating, it’s the people in the know who stand to benefit… at the expense of the general gaming public (including the vast majority of bettors)!

That’s why it’s refreshing to see big platforms tackling the significant challenge of preventing malfeasance in this growing sector with gusto! With so many factors (and so many different kinds of players involved at every level, in every sense of the word) in play, there’s just no way that gamblers can protect their interests individually: given the challenges at play here, bettors need support to protect their wagers.

Why Go Corporate?

We know what you’re thinking.

It’s not as if big companies like American Express have been great friends of gamblers up until now! When disputes arise with casinos, when there are tax issues, or when gamblers have dififculties with deposits and withdrawals in online casinos, it should be abundantly clear that, when it comes down to it, players find themselves all alone without an advocate all too often.

When, then, should players herald these large companies’ efforts as good news? Is the cavalry really arriving at last?

In short, the answer is both yes and no.

The world of online gambling is absurdly vast — and it seems to be growing larger and larger still with every passing day! And because of the international nature of the industry, as well as the legal grey areas arising between different countries, regions, and States, the business can seem like the Wild West of old: decentralized, unregulated, unruly, even frightening at times.

What’s more, there can be major regulatory differences from one online casino to the next! So even when a gambler or gambling community has a good sense of how to look after their interests with one platform or industry corner, the next may be a totally different story.

If online casino play is the Wild West, think of blue chip firm Fraud Prevention effots as the new sheriff in town.

Will they stop all the bad actors out there? Certainly not! (At least, not right away.) Will they always make the right choices, stay loyal to everyday people’s interests, and remain an available resource to those in need? Probably not. (At least, not at all times.)

But still, is it good news for players that there is a reputable third party on the scene, to whom they can turn when situations get difficult?

Absolutely.

We are very happy about this development, and hope to see more firms taking similar steps soon.

Put Me In, Coach!

Does this new development put you in the mindset to try sportbook gambling for the first time?

If so, we’d recommend exploring our site’s exhaustive resources on promotions in online sports. In the online casino industry, as in life, information is power — so make sure to arm yourself well before placing your first bets!

Fraud Prevention in Online Sports Betting