With the millions of transactions that occur daily in the gaming industry, many casinos are susceptible to money laundering and online scams. To secure the safety of players and the industry, gambling authorities have mandated gaming platforms to improve their security protocols. The casinos have in turn introduced innovative ways to secure their platforms and ensure the safety of players.
The improved standard of security in the industry can be attributed to many technological innovations. In this piece, we will discuss the various technologies behind the improved security of online casinos.
Technological innovations that improve online casino security
The improved level of security across online casinos did not happen overnight. Casinos have partnered with top tech companies to provide the following security measures:
Encryption
Encryption is a method used to protect information by transforming readable data, known as plaintext, into an unreadable format called ciphertext. This transformation is achieved using special mathematical formulas. To convert the ciphertext back into plaintext, you need a decryption key, which is often a string of numbers or a password generated by the algorithm. This makes it nearly impossible for unauthorized parties to access the protected information. Thus, encryption is the first line of defense against data breaches in online casinos.
Online casinos use Secure Sockets Layer (SSL) and Transport Layer Security (TLS) technology to protect the data shared between their platforms and players. These protocols protect the data as it travels across the internet. Thus, it is almost impossible for hackers to intercept information like players’ identity, their account details, credit or debit card numbers.
Two-factor authentication
Two-factor authentication (2FA) has become popular in the gaming industry. Beside your login password, 2FA adds an extra layer of protection to your account. With 2FA, you will need to provide another form of verification to prove your identity. You will often be asked to choose your preferred verification option. It can range from answering a security question or receiving a notification on your mobile app or device, to other biometric options like facial recognition or fingerprint.
Secure payment options
Providing a range of secure payment methods strengthens the security standards of a casino platform and improves the players’ experience. Popular payment options on online casinos include:
E-wallets: These digital wallets allow users to store funds securely and make fast transactions without sharing their bank details directly with the casino. Services like PayPal, Skrill and Neteller are popular among casino players. Players can easily make deposits or withdrawals with just a few clicks.
Credit cards: Online casinos invest in secure payment gateways to protect users’ financial information when they enter their card details. These cards often come with fraud protection features, which further enhances security of the gaming platforms. Popular examples include Visa and Mastercard.
Cryptocurrencies: Digital currencies like Bitcoin and Ethereum provide a new level of security and anonymity for many players. Crypto transactions are notably faster and have lower fees compared to traditional payment methods.
Trustly: This digital payment option caters to the needs of both consumers and merchants. Many casinos use Trustly as an alternative to traditional payment methods. You can find a more in-depth look at these casinos at https://www.casinotopsonline.com/trustly-casinos.
Know Your Customer (KYC)
Online casinos, except for some no-verification casinos, often require that players fill out Know Your Customer (KYC) form. This verification method is used to confirm the identity of players. The main goal of KYC is to protect both the casino and its players by ensuring that everyone is who they claim to be.
For KYC, players may be asked to provide personal details, such as their full name, date of birth and address. Additionally, you might need to submit a government approved ID, like a passport or driver’s license. This information helps the casino verify that you are of legal gambling age.
KYC checks also prevent identity theft. By verifying each player’s identity, casinos can ensure that winnings are paid to the correct account holder. This protocol also helps to protect the casino from fraudulent activities, where someone might try to use another person’s identity to gamble illegally.
Transaction monitoring
Once players are registered, online casinos can continuously monitor their activities through transaction monitoring. With AI, online casinos now integrate sophisticated tools that analyze and interpret players’ online behavior. These systems can track patterns in player behavior and identify any unusual or suspicious activities. This can prompt further investigation by the casino’s security team to prevent issues of financial fraud or misconduct.
Final thoughts
As the gaming industry continues to grow, so do the risks associated with online transactions, making it imperative for casinos to adopt advanced technologies to protect their players. As managing our downtime becomes more important to modern living, and technology continues to evolve and shape our leisure, we can expect improvements in casino security. This will foster a credible online gaming environment for everyone involved.
