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iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report

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Sumsub, a global full-cycle verification platform, released its 2024 iGaming Fraud Report, with updated identity fraud numbers and predictions for the industry. According to findings, the most popular fraud schemes in the iGaming industry are bonus abuse, affiliate fraud, illegitimate chargebacks, money laundering and account takeovers.

Key findings of Sumsub’s 2024 iGaming Fraud Report include:

  • Between 2022 and 2024, fraud in the online gaming sector increased 64% year-over-year on average.
  • By country, Bangladesh leads the fraud charts in Q1 2024 with a whopping 8.5% of all applicants being fraudsters, followed by Indonesia (8%), South Korea (6.6%), Pakistan (6.1%), and Bosnia and Herzegovina (6%).
  • Selfie mismatch is the most frequent type of fraud attack in gaming, representing 73% of all detected fraud in Q1 2024.
  • AI-powered deepfake scams are advancing at unprecedented rates, having grown 10x between 2022 and 2023.
  • Money muling remains the most widespread fraud scheme.

“Due to the growth of sophisticated scams and increase in the overall fraud rates in the iGaming industry, simple KYC checks are no longer a guarantee of players’ genuine personas and platforms’ robust protection. To ensure companies best avoid fraud scenarios and remain safe and compliant, they must deploy user identity verification at the onboarding stage in addition to betting pattern analysis and ongoing transaction monitoring,” Kris Galloway, Head of iGaming Product at Sumsub, said.

According to Statista, in 2024, the revenue of the online gambling market is expected to exceed $100B. By 2029, the number of users is predicted to reach 281.3M globally. Between 2022 and 2023, fraud losses for mobile casinos and betting platforms totaled $1.2B. With regulations becoming stricter, leading to millions in fines paid by iGaming platforms every year and license revocations, it is obvious that businesses that choose to settle for minimal defenses will likely suffer heavy financial and reputational losses.

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“A combined approach is the best bet against advanced iGaming fraud. Every step of the user lifecycle must be protected—from initial sign-ups to the withdrawal stage. That involves KYC, behavioral intelligence, device fingerprinting, database checks, and more. Sumsub combines all the necessary checks within its full-cycle verification platform tailored to the needs of gaming platforms and operators, ensuring advanced fraud protection and a smooth player journey,” Andrew Novoselsky, CPO at Sumsub, said.

The post iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report appeared first on European Gaming Industry News.

Industry Awards

Casino Guru Awards introduces “iGaming Changemaker of the Year” category

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Casino Guru is proud to announce the 3rd annual Casino Guru Awards, launching with open nominations and a landmark addition: the iGaming Changemaker of the Year category. This prestigious new award highlights individuals who have made a lasting, positive impact on the online gambling industry through exceptional leadership, innovation, or meaningful projects.
This year’s awards reflect Casino Guru’s ongoing commitment to inovation, fairness, transparency, and social responsibility in iGaming. For the first time, the winners will be celebrated during a glamorous live awards ceremony on June 6, 2025, at the iconic Hilton Hotel in St. Julian’s, Malta. The evening will bring together industry leaders, media partners, and stakeholders for a formal dinner, networking opportunities, and an exclusive after-party at the stunning Level 22 lounge.
About the iGaming Changemaker of the Year Category
The new iGaming Changemaker of the Year category focuses on individuals who have driven transformative change within the iGaming industry. Nominees are invited to submit evidence of their influence through successful projects, initiatives, or other significant contributions. The judging panel, comprised of Casino Guru experts and external specialists, will evaluate the nominees based on the measurable positive outcomes of their work and the impact on the wider industry.
Daniela Sliva, PR & Creative Project Director at Casino Guru, emphasized the importance of this new award: “This category honors those who inspire progress and innovation. We believe that by recognizing changemakers, we not only celebrate their achievements but also encourage others to strive for excellence in the iGaming sector.”
Additional Categories for 2025
The Casino Guru Awards 2025 introduces another new category, Players’ Choice, where players will vote directly for their favorite game provider, ensuring a transparent and authentic winner. The complete list of categories includes:
  • The Fairest Bonus Policy
  • The Fairest General Terms & Conditions
  • The Most Impactful Social Responsibility Initiative
  • The Best Implementation of Responsible Gambling Tools
  • The Most Transparent Casino
  • The Most Effective Handling of Complaints
  • The Most Ethical Approach to Marketing
  • Players’ Choice
  • iGaming Changemaker of the Year
  • Voice of the People
Applications are open until February 28, 2025, followed by shortlisting and public voting for select categories, including Players’ Choice and Voice of the People.
Don’t miss the chance to celebrate iGaming’s brightest stars.

The post Casino Guru Awards introduces “iGaming Changemaker of the Year” category appeared first on European Gaming Industry News.

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Soft2Bet’s Motivational Engineering Gaming Application (MEGA) recognised by SiGMA Europe Awards

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Soft2Bet’s API-based, standalone product MEGA was recognised as the “Unique Selling Point” at the B2B SiGMA Europe Awards ceremony that took place in Malta on November 11. The award once again highlights Soft2Bet’s focus on innovation and data-driven iGaming solutions that drive engagement and player retention levels. 

The prize rewards companies that have led the industry in providing unique and innovative products to players. It also recognises high level execution of strategic goals and the ability of companies like Soft2Bet to provide cutting-edge solutions and launch ground-breaking innovations that drive engagement and revenues for its B2B partners. This latest SiGMA Europe prize also complements the numerous nominations and awards it has won in recent years at the EGR Nordics, SBC, Global Gaming, iGaming Sword and other high level industry awards.

Martin Collins, Chief Business Development Officer at Soft2Bet, commented: “It’s always a great satisfaction to receive an award that recognises all the work that has been put into delivering MEGA. As a company that is firmly focused on the future, Soft2Bet continually innovates and enhances the user experience to produce strong growth and revenues.”

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This SiGMA Europe Award recognises Soft2Bet’s significant contribution in online gambling and follows the SiGMA East Europe Outstanding Contribution in Gaming Award the company received for Soft2Bet Invest, the iGaming Innovation Fund it launched this year that provides financial and business support to iGaming and casual gaming entrepreneurs who have the same drive for innovation and growth as Soft2Bet.

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Industry Awards

Scatters Club Streamers Awards 2025: The World’s Only Online Awards for Streamers Returns with New Nominations Open!

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Gear up, gaming fam! Scatters Club Awards, the first-ever online awards exclusively for gambling streamers, is back for its second year with nominations now open! This time, it’s an award for everyone — whether you’re a seasoned streamer, an enthusiastic fan, a media creator, or a valued partner in the gaming industry.

The big event will air live on February 27th, 2025, but the journey starts here. With new and revamped categories, this year’s awards shine a spotlight on community spirit, honoring every contributor to the streaming universe. With a stronger focus on fan-voted awards, the Scatters Club Awards 2025 is truly an Award FOR Everyone!

FOR streamers: it’s time to show off your personality, skills, and style

From gut-busting reactions to out-of-this-world outfits, we’ve got a category for every type of streamer. Whether you’re the life of the party, the master of cringe, or the ultimate fan favorite, we want you to take the stage. And this isn’t just about winning – it’s about bringing your unique self to the community and making your mark. Here’s a peek at some of our main categories:

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  • Most hilarious reaction to a win. The kind of reactions that make everyone feel the joy. 
    • Most bright reaction to a lose. It’s all about rolling with the punches, showing positivity, and making even the losses fun.
  • Coolest background. Flex your style with the most creative backgrounds – virtual or real!
  • Craziest outfit. Wild looks, eye-popping costumes, and unforgettable streaming style.
  • Best streamer collaboration. For those who know that two streamers are better than one. Double the fun, double the win!
  • Community champion. For those who go above and beyond to keep their fans engaged and connected.
  • Rising star. Recognizing new legends-in-the-making in the gambling streaming world.
  • The best cringe. Because sometimes, it’s the awkward moments that make the best memories.
  • Streamer bestie. For the most-loved streamer, chosen by the fans themselves.
  • The best female streamer. Celebrating the incredible women making waves in gambling streaming.

FOR fans: back your favorite streamers and enjoy the view

Let’s face it: fans are the real MVPs. Without you, there would be no one to cheer on those epic wins (or laugh at the spectacular fails). Not only do you get to vote and send your favorite streamers straight to the top, but you can also enjoy the chance to snag some loot yourself! So, get ready to show some love, vote like crazy, and who knows? Maybe your streamer will win, and you’ll walk away with a prize too!

FOR partners: let’s build a stronger iGaming world

This one’s for our partners – you’re the foundation of the iGaming universe! It’s your chance to join forces with the most creative, innovative, and downright legendary streamers and fans. Together, we’ll keep pushing the boundaries of entertainment and create a space where engagement and pure awesomeness go hand in hand. You bring the spark, and we’ll keep the fires burning with some seriously fun vibes. Let’s make the iGaming world stronger, louder, and just a little bit more outrageous.

FOR media: get in on the most hilarious and inspiring moments

Think you’ve seen it all? Think again! The Scatters Club Awards 2025 is where streaming culture goes off the rails in the most unexpected and hilarious ways. We’re talking laughs, tears (of joy, mostly), and unforgettable moments that will make your feed the talk of the town. Covering this event is like finding a goldmine of meme-worthy content, fan interactions, and jaw-dropping reactions.

The post Scatters Club Streamers Awards 2025: The World’s Only Online Awards for Streamers Returns with New Nominations Open! appeared first on European Gaming Industry News.

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