Betting fraud reports across foreign gaming sites, betting cases of unusual activity are on the rise. As online sports betting and specially regulated online casinos become increasingly available, regulators and operators are facing up to the potential risks associated with match-fixing, fraud and cybercrime. In order to protect themselves from the risks, and stay safe, players and bookies need to know the risks and take steps to avoid them.
Here’s what you need to know about the increase in suspicious betting cases.
Technology has made gambling more accessible than ever. Sadly, it has also given rise to people with a motive to take advantage of the system. This has led to an increase in betting related cases that involve fraud.
Frequently Betting Cases Used Methods of Cheating
One well-known technique involves bots that are designed to play strategically and to win games unfairly. These bots pick up on the game faster than a human player can, which leads to an advantage that’s difficult to overcome. In other situations, players collude to influence results by rigging odds or exchanging inside tips.
As these threats become more, so the importance of integrity monitoring organizations. IBIA (International Betting Integrity Association) is at the forefront of detection of suspicious activity around the world.
IBIA Report Discovers Significant Betting Fraud Reports
The IBIA tracked 40 suspicious cases of betting reported from its global network of members in its Q1 2023 report. These alerts concerned nine sports in 22 countries on five continents.
Soccer represented 15 of the 40 suspicious betting cases, or 38 percent of the total. That puts it at the top for reported incidents in the first quarter.
Spain in the Spotlight
Spain expressed worry after recording eight alerts of suspicion in a single quarter that matched the country’s alerts total for all of 2022. Betting operators and regulators alike have raised red flags about the spike.
Most bettors are male. But there is about a 20 percent increase in female cases.
Latin America keeps strengthening the position as a top market for online sports betting. But there has been a recent trend of increasing suspicious activity in the region, raising alarm among international watchdogs.
Brazil at Top of Region in Alerts
From 2018 to 2022, there were a total of 105 suspicious betting cases in Latin America. Brazil alone contributed 33 of these alerts, which included 63%.
Other countries with significant activity:
- Dominican Republic and Mexico (10% each)
- Argentina and Peru (9% each)
This data highlights that while Latin America provides significant opportunity going forward, it also mandates increasingly stringent scrutiny and sophisticated risk management tools.
Safeguarding Your Betting Business Against Threats
This is because online gambling is on the rise, and security must be a top priority for operators alike. The alarming escalation of suspicious betting cases adds to the pressure for better digital defenses.
Layered security is the best protection. Here is the list of the vital features Bookies must have in modern software:
- Encryption of data to keep it secure (SSL)
- Use of multi-factor authentication to secure your accounts
- Early threat detection systems are part of the intrusion detection systems
- Poisoned DDoS protection to not have a service outage
- Regular vulnerability assessment and patching
These alert the platform to stop hackers and fraudsters from abusing your betting platform.
The best part of VIP Pay Per Head services is that they are safe, scalable and secure.
VIP Pay Per Head is the go-to provider of premium sportsbook software with international top notch security features. We offer an international, scalable service to clients around the world and help bookies protect their business.
Enterprise Grade Security
We use industry known security solutions such as:
- Enable SSL Encryption for secure communication
- Firewalls and Intrusion Detection
- Multi-layer DDoS protection
- This leaves you and the data in your clients’ hands safe from any external malice.
World Class Support
We have customer service available to you day and night. Whether you are experiencing technical difficulties or need assistance in getting your sportsbook on track, we are there for you.
Why Fraud Reports Should Not Be Overlooked: Final Thoughts
The uptick in suspicious betting cases reminds us that although sports betting is fun and profitable, it comes with legitimate risks. Optimal operations require vigilance and proactivity to uphold trust and avoid unseen financial losses.
Opting for a reputable provider like VIP Pay Per Head and emphasizing on security will help you safeguard your sportsbook and operate with confidence.
