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Risks in the I-gaming Industry

Risks in the I-gaming Industry. Introduction General financial risks Licensing commercial gambling Fraud NYC. Introduction: I-gaming Industry. One of the fastest growing and dynamic sectors over the past few years The global casinos & gaming sector grew by 6.1% in 2011 – almost to $410

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Risks in the I-gaming Industry

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  1. Risks in the I-gaming Industry • Introduction • General financial risks • Licensing commercial gambling • Fraud • NYC

  2. Introduction: I-gaming Industry • One of the fastest growing and dynamic sectors over the past few years • The global casinos & gaming sectorgrew by 6.1% in 2011 – almost to $410 • Gaming revenue varies in each region – depending on local regulations • Highly competitive market • Future prospect • Significant growth expected in emerging markets like Asia and Latin America • Industry forecasts an increase of 34.3% since 2010 reaching nearly $513 billion by the end of 2015

  3. General financial risks • Target markets • Right content • Right payment methods • Software • Stable • Competitive • Licensing regimes • Global versus local • Staffing • Online Marketing

  4. Licensing Commercial Gaming LOCAL LICENSE VS. OFFSHORE LICENSE • Highly restricted gambling licenses – Can you get one? • Long and complicated application process – enough resources? • Strict technological requirements – Can you adapt software? • Application fees and annual fees – Is it still profitable? • Tax advantages or disadvantages

  5. Fraud INTERNAL FRAUD • Staff • High regulations and checklists for hiring • Staff rotating on different features • Software with good backend options • Track record of transactions • Track record of change locks • Payout clearly structured • Welcome promotions

  6. Fraud EXTERNAL FRAUD • Fraudulent deposits • Bonus fraud/hunting • Multi accounting • Payout fraud • Money laundry

  7. Fraud SPECIAL FRAUD • Collusion in poker • Multi accounting in poker • Money Transaction through Heads-Up tables • Game fixing in sports betting • Delay in Live streaming of Casino Games

  8. KYC KNOW YOUR CUSTOMER • Lack of identity verification and authentication tools • Detailed registration process is crucial to stop fraud • Requires a lot of manual work • Might scare the costumer away • Third party providers can help with blacklists • Phone identification to stop charge backs • Limit number of payment methods • Device reputation models • Check of data bases – matrix for suspicious behaviors

  9. Outline How to minimize risks • Risk management needed • Fraud managers • Fraud detection tools • End to end monitoring systems • International online identity for payments

  10. Contact edict egaming GmbH Alter Steinweg 3 20459 HamburgGermany Fon: +49 (0)40 43 207 900Fax: +49 (0)40 43 207 905 E-Mail: info@edict.de

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