Industry News
Impact of COVID-19 on Virtual Gambling Sector: ConnectPay Calls to Fortify Payment Security as Industry Fraud on Rise
Online gambling has increased during the pandemic. Evidently, so did the illegal activity related to the industry. Scammers are abusing the vulnerability of the circumstances, which is reflected by the rise in financial fraud and exploitation schemes. ConnectPay, an online banking service provider, encourages businesses, especially the ones considered to be higher-risk, to make the security of payment transactions their top priority in order to build trust with new and existing clients, and protect them from falling victim to fraudulent payments.
Illicit activity concerning monetary transactions has been a long-standing issue for the virtual gaming industry even prior to the pandemic, with financial crime estimated to be at $2.1 trillion per annum. That said, the COVID-19 crisis has brought new challenges as new fraud schemes started to plague various markets. This has influenced some countries, fearing an increase of illicit activity in online gambling, to issue tighter measures for the vendors to protect consumers during the lockdown.
“The increased online gambling sessions correlate with the noticeable jump in payment transactions”, explained Liutauras Varanavičius, Head of Business Development at ConnectPay. “When comparing data from January with the stats from April, we have noticed a 30% increase in gambling-related transactions. Even though it’s hard to predict how prolonged will the aftermath of the pandemic be, the necessity of instating more precautionary measures to support secure payments is too apparent to be left unaddressed.”
The surge of online gambling activity has greatly increased the public’s exposure to digital risks. While others are capitalizing on the crisis, businesses have to face the conundrum on how to disassociate from the perpetrators, remain credible and retain their target audience.
“The spike in fraudulent financial activity could hit the sector even harder than others: it’s already under a magnifying glass due to the nature of acquired revenue, thus any association with financial fraud could be leveraged as a pretext to revoke acquired licenses and restrict business”, said L. Varanavičius.
As the global health crisis continues, the need for reliable security measures and prevention of illicit financial flows will only continue to grow. Implementing timely and adequately prepared safeguards to combat arising threats is paramount, as, until brick-and-mortar casinos are once again operational, gambling industry relies on digital-only vendors.
Preserving secure payment transactions could be the difference between remaining operational or having to close up shop. The pandemic has already hampered AML supervision and presented new threats that could aid criminals in avoiding customer due diligence. However, having acknowledged current obstacles enables businesses to evaluate measures that would help avoid being juxtaposed with illicit activity and choose partnerships accordingly.
To keep the scammers at bay, ConnectPay continuously invests in innovative fraud prevention solutions, latest AML safeguards and other smart tools, helping companies in underserved markets to maintain credibility and keep the associated risks to the bare minimum. Furthermore, the company places high emphasis on a thorough screening process: this prevents taking on clients involved in unethical business practices, limiting the grounds for financial fraud. In 2020, ConnectPay is planning to invest additional 750 thousand euros in Anti Money Laundering and Counter-Financing of Terrorism compliance solutions.
AskGamblers hits a new milestone by surpassing 700,000 registered members on the website. Since 2006, AskGamblers provides accurate and reliable information on online casinos, sportsbooks, bonuses and more, with the motto Get the Truth. Then Play.
The website has grown, but not only in numbers. In 2024, AskGamblers introduced a comprehensive sports betting section where users can access sportsbook reviews, live scores, odds calculators and find exclusive deals.
Additionally, AskGamblers hosts the annual AskGamblers Awards, a prestigious event where players can nominate and vote for their favourites in four categories: Best Casino, Best New Casino, Best New Slot and Best Sportsbook, but six additional industry awards are handed out during the gala ceremony.
Dijana Radunović, General Manager at AskGamblers, said: “Reaching the milestone of 700,000 registered players is remarkable. It’s great to see new players coming in daily, but the fact that they remain active is what’s truly special!”
The post AskGamblers Surpasses 700,000 Registered Members appeared first on European Gaming Industry News.
Irina Rusimova, Amusnet’s Chief Commercial Officer, gave a video interview at ICE Barcelona 2025, the premier iGaming event, sharing insights on the company’s business priorities and future strategic vision. The event provided an ideal platform for Amusnet to showcase its latest innovations and set the tone for the year ahead. With a strong presence across the Online Casino, Live Casino, and Land-Based verticals, the company reaffirmed its position as a leading all-casino solutions provider.
“In 2025, our strategic focus remains on expanding in key markets across Europe and Latin America. Our teams in Greece, Spain, the Netherlands, Croatia, Malta, Belgium, Italy, Romania, Georgia, Serbia, and LATAM will continue working closely with partners to deliver tailored content that meets regional player preferences,” said Irina Rusimova.
“We started the year strong with our successful launch in Brazil, certifying over 160 games and becoming one of the first providers in the newly regulated market. We aim to deepen our market position by offering localized content and collaborating with local operators.
“We will continue reinforcing our relationships with international partners to ensure Amusnet’s games reach diverse audiences worldwide.”
As part of its strategic expansion into LATAM, Amusnet participates as a Headline Platinum Sponsor at SBC Rio from February 25 to 27 at stand B680. The company will showcase popular slots such as 20 Golden Coins, Candy Palace, Cocktail Rush, and Hot Deco, along with new titles like Stoichkov #8, Cavemen & Dinosaurs, and Dancing Dead. It will also unveil new jackpot systems and promotional tools designed to boost player engagement. Attendees can explore Type S, Amusnet’s first-ever slot cabinet series, crafted to meet the highest standards of the global land-based casino industry, and discover Crazy Red, a highly anticipated cascade slot featuring the “tumbling reels” mechanic, vibrant characters and exciting features.
The post Amusnet CCO Irina Rusimova Unveils 2025 Business Strategy and Vision appeared first on European Gaming Industry News.
BetBlocker has launched the Italian version of its app.
“Italian is the fifth language that we’ve launched support for in the first two months of 2025. Unlike commercial blocking softwares, who focus their attentions on markets that are viewed as commercially viable, BetBlocker is determined to remove the language barrier for as many users as possible,” the Company said.
“Gambling addiction is no different in Zambia, Brazil or Serbia than it is in the UK, US or the Netherlands. It is critical that we remove unnecessary friction to our free, anonymous support for as many people as possible.
“BetBlocker would like to extend our heartfelt thanks to Francesco Casartelli, who volunteered to provide the translation services that have facilitated this launch. Francesco’s work will allow us to support thousands more Italian speakers, and directly touch and improve the lives of a huge number of people and families.”
The post BetBlocker Launches Italian Version of its App appeared first on European Gaming Industry News.
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