Ozric Vondervelden, the CEO and Co-founder of Greco, shared his considerations about bonus abuse in iGaming. This issue can cost a lot of money to those who are not careful. That is why it is crucial to learn how to mitigate risks with modern technology and responsive player support.
The specialists of Casino Market will be glad to help you eliminate bonus abuse. Buy or rent the software to identify and remove the security risk of each punter and brand.
Scams cannot be stopped without knowing the risks the industry faces and which ones are trending. Arbitrage and bonus abuse are among the primary types of fraud these days. Unfair gambling brands learn to mess with a gaming engine and manipulate a digital balance. The representatives of Greco recommend that customers handle risks through reporting and automation instruments.
Registration of multiple accounts by one user is the main issue, leading to serious consequences. Operators need to concentrate on unique users who deposit money and play games. That is why online gambling policies determining financial and authorisation routines must be updated. The player acquisition may decline at this point, but it will leave only real users in the customer base.
Legislation, taxation, and fraud decrease the sum of money gambling brands can put at stake. The policies are a continuation of large value offers, which minimise exposure to handling risk returns. This approach has been utilised in the form of large banners offering second-chance bets and deposit bonuses. The final value usually turns out to be lower than the one stated in the description.
Here are the nuances that punters need to be careful with:
The old continent has become a significant hub for gambling brands that know various methods of managing risks. The implementation of winning caps is probably the most common one. It eliminates the need for a high stake value, which addresses potential abuse.
According to Mr Vondervelden, A/B testing is widely used to check the gap between a €10 bonus with profit conditions and a €5 cash drop. Both take a €1 deposit, but players are interested in more attractive terms. It is not always mentioned in official product offerings.
The US used to have an approach similar to the European region. But the situation changed once the country started revealing saturation signs along with the value decrease. However, the instructions for welcome campaigns have become much stricter. So no wonder the US is slowly utilising an analytical tactic regarding punters’ performance.
There are several nuances related to risk management in the regions:
Bonus abuse is associated with human behaviour, namely the treating of wins and losses. However, a holistic tactic to fraud promises needs a good comprehension of the punter's value. It reveals the concept in its major form. Vondervelden recommends including behavioural analytics to make fraud cases easier to detect. It is important to assess all segments rather than focusing on a single one.
Value has universal coverage, applying to total promo campaigns across bookmakers. It also works for splitting the audience into separate segments. A bonus size depends on factors such as volatility, wager size, and strategic approach.
That is also part of Greco’s offering. The risk management service acts as a BI instrument that reveals the punter’s value based on the promised win or loss. This knowledge encourages more effective decisions when used effectively.
Here are additional purposes to be reached:
Comprehending value is significant as it helps detect bonus scammers. When relying on theoretical knowledge only, operators should search for individuals regularly enjoying value and benefiting from what it brings. They focus on the downtrend when checking the performance chart.
What will the system of rewards look like in a few years? Considering the growing influence of AI in different spheres, online gambling will not be an exception. Operators will more likely start using tech models for generating bonuses. So the value will be adjusted to personal needs in gaming content, communication, etc.
The future transformation will be possible upon mastering the basics. For now, the lack of data does not allow gambling brands to estimate the optimal value for each user. There are simply no reasonable metrics for it.
Ozric Vondervelden gave detailed comments on iGaming scams. These include any fraudulent attack against casino operators and sportsbooks. Online gaming is a high-risk environment, and that’s not something that your company can change.
Fraudsters have specific methods of trying to abuse systems, such as cheating at games and exploiting loopholes. But you can change the approach to handling that reality and, thus, enhance user experiences. Make sure to have a fraud prevention plan to protect businesses from painful losses.
Open a new gaming business that would be protected from different fraud types. Contact Casino Market’s managers to help you mitigate potential risks and keep the audience engaged in the long run.
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