Industry Awards
iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report
![igaming-fraud-increased-64%-yoy:-sumsub-shares-alarming-data-in-2024-igaming-fraud-report](https://recentslotreleases.com/wp-content/uploads/2024/05/136309-igaming-fraud-increased-64-yoy-sumsub-shares-alarming-data-in-2024-igaming-fraud-report.jpg)
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.
“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
Megapari Nominated for the SBC Awards 2024
![megapari-nominated-for-the-sbc-awards-2024](https://recentslotreleases.com/wp-content/uploads/2024/08/139086-megapari-nominated-for-the-sbc-awards-2024.jpg)
Megapari has secured two nominations at the prestigious SBC Awards 2024. The company is nominated for both “Sportsbook Operator of the Year” and “Casino Operator of the Year.” The awards ceremony will take place on 26th September 2024 in Lisbon, Portugal.
SBC is a news, media and events company that works with industry leaders to develop the betting and gaming industry. This year, the SBC Awards are celebrating their 11th edition, uniting representatives from the leading igaming operators alongside companies that specialize in essential support services.
In 2024, Megapari successfully secured a spot on the shortlist for two major categories – “Sportsbook Operator of the Year” and “Casino Operator of the Year”
The first nomination is a recognition earned through the company’s significant contributions to the development of sports betting. Megapari boasts over 16,000 sporting and non-sporting events, along with enhanced odds on top matches. Additionally, Megapari’s retention team meets player needs with unique promotions, like this summer’s EURO MEGA DRIVE, offering a Mercedes G-Class as the grand prize.
Megapari has also been nominated for “Casino Operator of the Year”. The company offers 20,000 slots from 140 industry-leading providers and continues to expand, regularly adding new games to the platform. In June 2024, Megapari successfully partnered with Jilito to introduce even more exciting slots.
Megapari is honored to be recognized among the nominees for such a prestigious award, a testament to his dedication and continuous evolution. Last year, Megapari received nominations in the “Rising Star in Sports Betting” and “Rising Star in Casino” categories at the 2023 SBC Awards.
Megapari Partners invites those interested in partnership opportunities to join their affiliate program. To collaborate with Megapari, get more information by emailing [email protected].
The post Megapari Nominated for the SBC Awards 2024 appeared first on European Gaming Industry News.
Industry Awards
ELA Games has received 2 nominations for the prestigious SBC Awards 2024
![ela-games-has-received-2-nominations-for-the-prestigious-sbc-awards-2024](https://recentslotreleases.com/wp-content/uploads/2024/08/138965-ela-games-has-received-2-nominations-for-the-prestigious-sbc-awards-2024.jpg)
ELA Games, the innovative iGaming supplier studio, announces a double nomination for the landmark SBC Awards 2024. Being shortlisted in the ‘Casino/Slots Developer of the Year – Small’ and ‘Casino Entertainment Innovation’ categories confirms the studio’s commitment to producing the most visually rich slots, betting, and skill-based games with engaging gamification mechanics.
David Fall, Business Development Manager at ELA Games, remarked on the shortlisting, “We are grateful to be recognised by such a respected industry award. Our team has strengthened significantly in the area of creating more games with a maximum focus on player and operator demand, and we are delighted to receive confirmation of the team’s progression.”
ELA Games will also participate in the upcoming SBC Summit 2024 in Lisbon, showcasing their latest and upcoming titles at stand B350 from September 24-26. Attendees can expect first-hand demonstrations of new games like Madshow Circus, Devils’ Treasures, Aqua Mafia, and Farm Hunt. The studio confirms its ambitious plans to maintain a steady release cadence of 2 new games per month, underlining its dedication to enriching the player experience.
The post ELA Games has received 2 nominations for the prestigious SBC Awards 2024 appeared first on European Gaming Industry News.
Conferences in Europe
European iGaming Excellence Awards 2024: Online Voting Now Open – Cast Your Vote for the Shortlists!
![european-igaming-excellence-awards-2024:-online-voting-now-open-–-cast-your-vote-for-the-shortlists!](https://recentslotreleases.com/wp-content/uploads/2024/08/138895-european-igaming-excellence-awards-2024-online-voting-now-open-cast-your-vote-for-the-shortlists.png)
HIPTHER is thrilled to announce that the online voting stage for the European iGaming Excellence Awards (EiGE Awards 2024) is now open to the public and for the iGaming industry professionals to vote, in order to determine the Awards Shortlists.
European iGaming Excellence Awards (EiGE Awards) 2024: Celebrating Industry Excellence
The European iGaming Excellence Awards (EiGE Awards) 2024 marks its second edition, hosted as part of HIPTHER’s annual European Gaming Congress. These prestigious awards spotlight outstanding contributions across the European iGaming sector, including online gambling operators, suppliers, testing laboratories, payment providers, affiliate programs, and industry innovators.
This year, the EiGE Awards are back, better than ever, and ready to celebrate every facet of iGaming excellence. We’re introducing new categories to recognize the contributions of industry leaders and influencers, as well as highlight creative achievements in areas like Company Launch, Marketing Campaign, Tech Innovation, and more!
Online Voting Process: When, How, Why
The Online Voting session for the EiGE Awards 2024 is now live and will be open from 8 August 2024 until 26 August 2024.
How to Vote:
- Visit the main Voting Page featuring all 16 categories: https://hipther.com/events/egc/eige-awards/
- You can vote for one or more categories, or for all categories.
- Each IP address is allowed one vote per category throughout the voting period.
What’s Next:
- The online voting stage will determine the Shortlisted Companies.
- The Preliminary Shortlists* will be announced on 1 September 2024.
- The final vote will take place at the European Gaming Congress, where event participants will cast their votes.
*The results from the online voting will produce Preliminary Shortlists. To finalize these shortlists, shortlisted companies must confirm their acceptance to attend the event as Finalists. Only those who commit to participating in the event will be officially included in the Final Shortlists.
Promote Your Vote – Rally Your Network!
During the online voting period, HIPTHER will be sharing reminders on social media, and we encourage you, our Nominees, to do the same!
Leverage your network and prompt your followers, colleagues, partners, and clients to cast their votes. Make the most of your social media channels, blogs, and any other media platforms to share the exciting news, highlight your achievements, and rally support from the industry.
Promoting Fair Play & Community Engagement
HIPTHER is raising the iGaming Awards standards by introducing the one-time-vote policy per category, while maintaining an open and democratic process that empowers the iGaming community.
To further enhance engagement, we’re introducing social share buttons for each category! After you vote, you can easily share your participation and encourage your network to vote as well. Rest assured, sharing doesn’t reveal your vote – it will just let people know you voted for a specific category in the EiGE Awards’ online voting session, urging them to follow your example.
Excelling Together!
We’re excited to see your enthusiasm and engagement as we celebrate excellence in the iGaming industry. Your participation in the online voting stage is crucial to recognizing and honouring the standout achievements within our vibrant community.
Thank you all for being a part of this journey, and best of luck to our esteemed Nominees!
Let’s make the EiGE Awards 2024 a remarkable event together!
The post European iGaming Excellence Awards 2024: Online Voting Now Open – Cast Your Vote for the Shortlists! appeared first on European Gaming Industry News.
-
Africa5 days ago
South African Casino Hits R4 Million Jackpot on Mega Fire Blaze 3 Slots
-
Australia5 days ago
Regulating the Game Announces Dr Bo Bernhard as 2025 Conference Speaker
-
Africa6 days ago
Amusnet Announces Strategic Partnership with BetFounders
-
CGS Recife5 days ago
Salsa Technology wins Best Game Aggregator award at CGS Recife
-
Balkans6 days ago
EGT is ready for another memorable Entertainment Arena Expo show
-
Latest News6 days ago
Finnplay and Mindway AI Partner to Elevate Safer Gambling Practices
-
Brazil4 days ago
Salsa Technology Announces Thiago Valadão as Country Manager for Brazil
-
Evoplay4 days ago
Winpot.mx adds Evoplay to well-stocked game lobby