Industry Awards
iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report
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.
Casino Guru has been shortlisted for the inaugural SBC Awards Europe 2025, joining a competitive field of contestants in the “Casino Affiliate of the Year” category. SBC Awards Europe 2025 is the first edition in what will be a recurring event, celebrating excellence at the SBC Summit Malta, which was rebranded from CasinoBeats Summit.
The event ceremony is due to take place on Thursday, June 12, at the Hilton Malta and will reunite 300 industry guests. Casino Guru is honored to have been distinguished by making the shortlist and competing against other industry leaders such as Gentoo Media, Gambling.com Group, and Brian Christopher’s Flip the Switch.
Casino Guru is more than an affiliate, with a distinguished track record for favoring player safety and empowering consumers to make the right choices about the casinos they play at.
With a review database that exceeds 8,296 casinos, 17,414 bonuses, and 20,194 casino games, Casino Guru is constantly growing as the Internet’s largest and most reliable database for anything that has to do with iGaming.
Commenting on Casino Guru’s shortlisting in the ‘Casino Affiliate of the Year’ category at the SBC Awards Europe 2025, Daniela Sliva, Public Relations and Creative Projects Director, said:
Being shortlisted for the inaugural SBC Awards Europe is a testament to Casino Guru’s impact and recognition as a trusted voice in the industry. Through continuous efforts to educate both industry professionals and players, we have consistently promoted the core values that should define the entire iGaming industry – transparency, fairness, and openness. Casino Guru is proud to be considered for the Casino Affiliate of the Year award, a reflection of our unwavering commitment to player protection and ethical industry standards.
Casino Guru is an outlier with groundbreaking initiatives, including the Complaint Resolution Center, which returned more than $40,000,000 to players by February 2025, making it an unmatched industry specialist.
Casino Guru is one of the few industry companies – and possibly the only one – to actively champion industry-wide improvement of casino standards through its unique Safety Index reviewing methodology.
Each of the more than 8,296 casinos in the Casino Guru database is reviewed manually and scrutinized for the fairness of their terms and conditions.
Ratings are fluid and are continuously subjected to reassessment to ensure that players looking for recommendations will get the most up-to-date and reliable information.
Casino Guru has spearheaded sustainable efforts in responsible gambling through the launch of the Gamtegrity platform and has worked with sector leaders to advance the importance of safe & positive play.
Casino Guru continues to set industry standards by taking a truly player-centric approach, one that challenges industry practices and upholds transparency, fairness, and openness as core principles of play.
The post Casino Guru shortlisted for prestigious SBC Awards Europe 2025 appeared first on European Gaming Industry News.
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Real-time payment provider nominated for safer gambling and innovation accolades
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London-based company was awarded government grant to develop unique responsible gambling solution
London, April 29, 2025 – Real-time payment provider Yaspa has been shortlisted for two prestigious gambling industry awards.
The London-based company is named among the nominees for Innovation in Payments Solutions and Safer Gambling Software Supplier at the forthcoming EGR B2B Awards.
Now in their 16th year, the EGR B2B Awards are known for recognising excellence in service providers in the gambling industry, rewarding those truly leading the way in innovation, reliability and client service. The winners will be announced at a ceremony at the Roundhouse in London on July 3.
Yaspa enables smooth, simple and secure instant payments through open banking for a range of partners. It works with online and offline gambling industry businesses, including Playbook Engineering, Novibet, NetBet, Casino Lugano and White Hat Gaming.
In 2024 Yaspa was awarded an Innovate UK grant to continue to develop its Intelligent Payments solution – a unique B2B platform that combines open banking technology and AI to help gambling operators identify vulnerable players in a frictionless manner. It is designed to empower businesses by combining Pay by Bank transactions, AI-powered verification, and real-time risk assessment into a seamless, secure experience.
In the gambling sector, Yaspa is able to help operators support responsible gambling with access to player transaction data at the point of deposit, delivering real-time user insights for a significantly broader and more accurate picture of a player’s pan-operator activity and financial health.
Yaspa CEO James Neville said: “The EGR awards are regarded as the pinnacle of B2B igaming ceremonies and for Yaspa to be nominated is great recognition for our team’s hard work and dedication to innovation.
“Our Intelligent Payments solution is a truly unique proposition and it’s wonderful to see that its potential to have a profound impact as a responsible gambling tool has been recognised.
“We are very proud to be shortlisted alongside some of the biggest names in the gambling and payments industries and we are very much looking forward to the awards night.”
The post Yaspa shortlisted for two prestigious gambling industry awards appeared first on European Gaming Industry News.
Rickard Vikström, CEO and founder of Internet Vikings, a licensed in-state hosting provider for U.S. iGaming and online sports betting, has been named European CEO of the Year in the hosting industry.
The award recognizes Vikström’s work in expanding Internet Vikings’ presence from Europe into the U.S., where the company has become the fastest-growing hosting provider for the iGaming and sports betting industry. Internet Vikings continues to see strong year-on-year growth, becoming the go-to hosting partner for European operators expanding into the U.S. market.
Vikström has led Internet Vikings through several key initiatives, including early market entry in emerging U.S. states, the introduction of flexible hosting models such as Pay-as-You-Go Bursting, and a focus on operational transparency and customer responsiveness. He also helped secure VMware Premier Partner status for the company.
Internally, Vikström is known for his direct and accessible leadership approach, maintaining regular contact with clients and actively participating in customer support improvements.
This award highlights his ability to scale a European company internationally while maintaining close attention to service and technical reliability.
The post Rickard Vikström Named European CEO of the Year in the Hosting Industry appeared first on European Gaming Industry News.
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