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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

Million Games and Partners Shortlisted for MiGEA 2025 Awards

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Million Games has been shortlisted in the Best Crash Game category at the Malta Gaming Excellence Awards (MiGEA) 2025 for its popular title Chicken X, launched earlier this year. The announcement marks a major milestone for the studio, known for its bold, player-first approach to game development.

Hosted on 19 June at the InterContinental in St. Julian, the MiGEA Awards celebrate the most impactful and original contributions to the gaming industry, spotlighting excellence in game development, technology, and innovation.

Chicken X, developed in-house by Million Games, invites players to guide a fearless chicken across a fast-moving highway in a high-volatility crash format. With its vibrant design, suspenseful pacing and sharp risk-reward balance, the game has quickly become a favourite among crash game enthusiasts.

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In addition to its own nomination, Million Games is also celebrating two of its Million Stars partner studios,
both shortlisted in the Best Slot Game category:

Thorfinn’s Journey by Yugo Workshop – a visually rich, Norse-inspired slot featuring dynamic mechanics and narrative-driven gameplay.

Captain’s Curse by Black Cat Games – aa dark maritime adventure where a cursed fisherman transforms into a werewolf under the full moon, with free spins and collect features.

Notably, both studios have been shortlisted for their debut releases developed on the Million Games platform, making the recognition all the more significant.

“We launched the Million Stars programme to help brilliant developers bring bold ideas to life,” said Thomas Nimstad, CEO for Million Games. “Seeing Yugo Workshop and Black Cat Games earn nominations for their very first games is a proud moment for us — and a strong endorsement of the creative talent driving the Million Stars partners.”

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Million Games will attend the MiGEA Awards ceremony on 19 June, joining a field of industry leaders and rising stars.

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Industry Awards

Betsson Group Nominated in 14 Categories at the Women in Gaming Diversity Awards 2025

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Betsson Group has been nominated in 14 categories at the Women in Gaming Diversity & Employee Wellbeing Awards 2025, hosted by Clever Duck Media. These include five company-wide nominations and nine individual nominations for eight of its employees.

These annual awards celebrate excellence in equality, diversity, inclusion and employee wellbeing across the global gaming industry. Since its launch in 2010, the event has solidified its position as one of the global gaming industry’s most respected diversity accolades.

The categories in which Betsson Group and its employees have been shortlisted include:

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Company Category Nominations:

Best Diverse Place to Work

Community Engagement

Company of the Year (Operator)

Diversity & Inclusion

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Great Place to Work Award

Individual Category Nominations:

Affiliate Leader – Shakyra Jonsson

Employee of the Year (Operator) – Lisa Mifsud

Excellence in Customer Service – Gabriella Larsson

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HR Champion (Operator) – Tamara Klibadze

Innovator – Lena Nordin

Inspiration of the Year (Operator) – Lena Nordin

Positive Role Model of the Year (Operator) – Lara Lombardi

Star of the Future (Operator) – Jessica Carrillo Miranda

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Young Leader of the Year (Operator) – Chellyanne Cassar

These nominations reflect the company’s ongoing dedication to creating a workplace where employees feel valued, respected and empowered to succeed. At Betsson Group, diversity, equity and inclusion are more than buzzwords; they are embedded in the company’s culture, values and daily actions. In previous years, Betsson has been recognised at the WiG Diversity Awards for Best Diverse Place to Work (2022 and 2024), Company of the Year (2019 and 2022) and for Diversity & Inclusion (2021). For the individual categories, Betsson employees have previously won Excellence in Customer Service, Star of the Future and Young Leader of the Year.

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Industry Awards

Reelsoft Recognised as Industry Innovator with Dual Award Nominations

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Reelsoft, the iGaming technology company behind the Vision platform, has been nominated for two prestigious awards:

Best iGaming Technology Company at the MiGEA Awards and Rising Star in Casino – Supplier at the SBC Europe Awards. Both nominations celebrate the innovation, scalability, and comprehensive capabilities of the company’s proprietary Vision platform.

At the heart of Reelsoft’s offering is a unique combination: Vision RGS (Remote Gaming Server) and Vision Link, a game aggregation platform. Reelsoft is currently the only company in the market delivering both technologies under a single ecosystem. This dual-platform synergy offers partners unrivalled flexibility, speed-to-market, and control—whether they are launching their own titles or aggregating content from third-party studios.

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The Vision platform is further enhanced by powerful modular features. Vision RGS supports slots, crash games, RNG table games, and multiplayer experiences, while Vision Link seamlessly connects game providers to operators across global markets. Embedded within both is Vision Promotions, a full suite of engagement tools including tournaments, feature bets, and the distinctive Vision Mega Jackpot, which can be deployed across both proprietary and aggregated content on Vision Link—a rare capability in the industry.

Reelsoft’s proprietary multiplayer engine, jackpot engine, and real-time back office provide a full-service infrastructure for studios and operators looking to grow with confidence. The platform has demonstrated its scalability with over 3.4 billion transactions processed to date and strong expansion into regulated and emerging markets, including Europe, Africa and North America.

“Being recognised in both categories is a clear signal that the market values the depth and ambition of what we’re building,” said Thomas Nimstad, CEO of Reelsoft.

“Vision is more than a platform—it’s an engine for sustainable, partner-led growth. These nominations are a credit to our team’s dedication and to our partners who choose flexibility and innovation to grow their business.”

As Reelsoft continues to push the boundaries of platform ownership, game distribution, and player engagement, these shortlistings reaffirm the company’s position as a driving force within the iGaming landscape.

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The post Reelsoft Recognised as Industry Innovator with Dual Award Nominations appeared first on European Gaming Industry News.

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