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Building Trust and Security in Online Casinos: A Guide for the Future

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Online casinos have burgeoned into an impressive multi-billion-dollar industry since their inception in the 1990s. A report from Research & Market in 2023 asserts the online gambling market’s substantial growth, with estimates reaching $88.65 billion by the end of the year. But such meteoric success is not without its challenges.

With great success comes greater responsibility, especially concerning the security of online casinos. The vast financial appeal of the sector has attracted not just legitimate enterprises but also malicious actors seeking opportunities for illicit gains. Ensuring the long-term success and reliability of online casino platforms requires a sophisticated approach, balancing regulatory compliance, cybersecurity, and the crucial element of player trust.

The Current iGaming Landscape

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The pandemic’s onset catalyzed a transformative period for the gambling industry. As global lockdowns confined people indoors, digital entertainment experienced a surge in demand, propelling the iGaming sector into the spotlight. The sector has significantly evolved from its nascent days, now being hailed as a financial titan.

Technological innovation, from improved graphics to AI-driven game tools, has elevated online casinos to new heights. However, the allure of this financial prosperity has its downsides. Cyberattacks have seen a 1,000% annual increase, with each data breach’s average cost surmounting $4 million.

Critical Measures to Uphold Cybersecurity and Player Trust

Online casinos, like other digital enterprises, hold a trove of sensitive player data. This wealth of information, although essential for operational purposes, also paints a giant target for cybercriminals. Even behemoths of the industry, like MGM Resorts International and Stake.com, are not impervious to threats.

Given this backdrop, here are the top 10 best practices for securing online casinos:

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  1. SSL Encryption: A digital fortress for online casinos, it ensures that the data exchanged remains safe from hackers, safeguarding player information during transmission.
  2. Secure Payment Gateways: Collaborate with reliable payment processors to shield monetary transactions from potential fraud.
  3. Fraud Detection Systems: Deploy advanced systems to spot and prevent fraudulent activities, thereby maintaining the platform’s integrity.
  4. Player Verification & KYC: Implement rigorous identity checks and two-factor authentication to prevent identity theft and ensure compliance with regulations.
  5. Random Number Generators (RNGs): Use RNGs to ensure game fairness, enhancing transparency and boosting player trust.
  6. Promote Responsible Gambling: Equip players with tools to establish limits, ensuring a balanced gaming environment and mitigating addiction risks.
  7. Adherence to Legal Regulations: Secure licenses from recognized regulatory bodies to signify commitment to privacy protection and industry standards.
  8. Routine Security Audits: Engage third-party firms to identify system vulnerabilities and adjust to ever-evolving threats.
  9. Staff Education: Equip staff with knowledge on best practices to maintain the gaming environment’s integrity.
  10. Foster Trust through Reputable Game Providers: Collaborate with acclaimed iGaming content providers like BGaming to offer transparent games, rewards, and maintain player loyalty.

The Road Ahead

The increasing significance of the iGaming sector necessitates stringent cybersecurity measures. By implementing best practices such as SSL encryption, secure payment methods, partnering with trusted gaming providers like BGaming, and fostering transparent relationships with players, online casinos can navigate the challenges of the digital age.

Consistency in cybersecurity and trust will be paramount for the industry’s future. By embracing these guidelines, online casinos can ensure a safe, enjoyable gaming experience, and chart a course for continued growth in the dynamic world of online gambling.

Enhance your online casino’s security today by following these important 10 tips.

 

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CEO of Expanse Studios

Expanse Studios (GMGI) Enters the U.S. Sweepstakes Market

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North American Expansion Kicks Off Through Strategic Partnership with Moozi

Golden Matrix Group’s game development division, Expanse Studios, has officially entered the U.S. sweepstakes market, marking a significant milestone in its North American growth strategy. This move is powered by a strategic content partnership with Moozi, one of the most dynamic sweepstakes social casino platforms in the region.

With Moozi now featuring over 50 of Expanse Studios’ top-performing games—including immersive slots, crash games, and table games—this partnership positions GMGI to capture a share of the $5.6 billion U.S. sweepstakes market, projected to more than double to $11 billion by 2025 (Eilers).

Damjan Stamenkovic, CEO of Expanse Studios, commented:

“This partnership signifies our formal entry into the U.S. market, showcasing the innovation and player-first experiences that define Expanse Studios. Collaborating with Moozi enables us to deliver advanced gaming content to a growing audience in North America, a key region for our global growth.”

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James Anderson, Moozi’s CCO, added:

“Expanse Studios has set a high bar for engaging and innovative gaming experiences. Their addition to our platform elevates Moozi’s offerings and strengthens our mission to lead the U.S. sweepstakes social casino space.”

This launch underscores Expanse Studios’ commitment to innovation and its long-term growth trajectory in regulated markets. By entering the North American sweepstakes market, Expanse Studios takes a bold step in expanding its footprint while delivering cutting-edge gaming experiences.

 

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GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline

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GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.

In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.

Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.

In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.

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GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.

Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.

“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.

“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”

The post GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline appeared first on European Gaming Industry News.

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Kambi Group plc repurchase of shares during 18 December – 23 December 2024

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Kambi Group plc (“Kambi”) has during the period 18 December to 23 December 2024 (the “Buyback Period”) repurchased a total of 40,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).

The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.

During the Buyback Period, Kambi repurchased a total of 40,000 ordinary B shares at a volume-weighted average price of 99.13 SEK. From the beginning of the Programme, which started on 6 November, until and including 23 December 2024, Kambi has repurchased a total of 344,000 ordinary B shares at a volume-weighted average price of 104.94 SEK per share.

During the Buyback Period, Kambi has repurchased shares as follows:

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Date Aggregated daily
volume (number of
ordinary B shares)
Weighted average
share price
per day (SEK)
Total daily
transaction
value (SEK)
18 December 2024 10,000 100.00 999,967
19 December 2024 10,000 99.39 993,929
20 December 2024 10,000 98.86 988,588
23 December 2024 10,000 98.26 982,562

All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 23 December 2024, Kambi’s holding of its own shares amounted to 344,000 and the total number of issued shares in Kambi is 29,903,619 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.

A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.

Information on the Programme is available on Kambi’s website, https://www.kambi.com/investors/share-information/

The post Kambi Group plc repurchase of shares during 18 December – 23 December 2024 appeared first on European Gaming Industry News.

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