Predictions regarding the growth of the online casino industry continue to astound financial analysts who had expected that the phenomenal growth of the COVID area would drop off once people could return to in-person activities and interactions.
Instead, much to the shock of industry insiders and observers alike, revenue for online casino slots and other casino games continues to grow and is projected to reach US $95.05 billion in 2023 at a CAGR growth rate of 8.54%. That’s almost a 20x expansion from 2019’s worldwide revenue of $5.2 billion.
Along with the surge in popularity, there’s been a corresponding surge in fraudulent activities that targets the casino platforms and unsuspecting players. Both platforms and gamers are vulnerable as scammers and fraudsters become ever-more creative and ruthless in their methods. It’s crucial for both sides to be well-informed and vigilant in order to ensure a secure and enjoyable gaming experience for all.
Today’s online casino platforms are expected to implement a wide variety of measures to create a safe and trustworthy environment for their players. Gamers should look for platforms that:
You should only play at a secure website where financial transactions are protected through partnership with secure payment gateways. Both the casino and the payment platforms should display certification that shows that they SSL encryption is being used to secure data transmission between the player’s device and the casino’s servers.
Fair Gaming Practices
Your casino should use software that ensures fair gaming practices through the use of Random Number Generators (RNGs) which guarantee that every spin, every roll of the dice and every deal of the deck is fair, random and unbiased.
The software company that supplies the casino’s games should be certified to confirm that it undergoes regular third-party audits that verify the integrity of the gaming software.
Terms and Conditions
When you sign on with a casino, make sure that the Terms and Conditions of the Agreement are clearly communicated. You should be able to understand the casino’s rules and regulations as well as information about any fees associated with the gameplay. Also, every casino has its own rules regarding withdrawal processes and conditions so be sure that you understand exactly what will be involved when you want to withdraw your payouts.
Responsible Gaming Features
A reputable online casino will have responsible gaming features that help gamers who may feel themselves falling into problem gaming behaviors. A dependable online casino will feature self-exclusion options for players who want to limit or suspend their accounts and will provide links to responsible gambling resources and support organizations.
Look for an online casino platform that encourages and enforces strong password policies for player accounts, implements two-factor authentication which add an extra layer of security and verifies user accounts through identity verification protocols.
Even before you sign up for an online casino account you can check out the casino’s customer support by contacting the casino by chat or email with any questions or concerns. If the casino doesn’t answer you, find another casino – chances are that, if the casino’s chat line isn’t responsive to a potential customer, they won’t be responsive to account holders after the account has been opened.
You should also determine the casino’s anti-fraud measures including measures that detect and prevent fraudulent activities (identity theft, payment fraud, etc) and how the casino monitors player accounts for suspicious behavior and transactions.
Gamers also have a responsibility to protect their online presence, both at the casino and elsewhere online. In addition to following the guidelines listed above to ensure that you chose a safe online casino, you need to secure your own online presence. Some things that you can do to protect yourself when playing online and lsewhere include:
Keep your personal information secure by sharing only essential details with a secure casino platform. Don’t interact with platforms that request excessive or unnecessary information – choosing a username and password, providing your email address and verifying your identification should be sufficient for you to enjoy a successful online gaming event.
To ensure that you are playing at a secure website, check that the website features "https://" in the URL and displays a padlock icon in the address bar.
You should always use a strong password that you don’t use for any other website. The password should include a combination of uppercase and lowercase letters, numbers, and symbols. Don’t use easily guessable information such as birthdays, addresses or names. Update your password regularly to enhance security on your casino account, your ebank and your cybercurrency wallet.
Two Factor Authentication
Casinos that utilize two-factor authentication protocols (2FA) provide their customers with an additional layer of security. You have to activate the 2FA. It’s true that it adds an extra step to the login process but the extra minute is worth your time because it makes it more difficult for unauthorized individuals to access your account
Phishing is probably the biggest threat to the online world. Scammers use phishing emails to access account holders’ personal information like passwords, account numbers and other data that they need to break into their accounts. Beware of any email that asks you to “reconfirm your account” or “submit information” – even when the email looks like it comes from a reputable source like a bank or credit card company with which you are familiar.
If you are in doubt about the authenticity of an email, contact the source directly – don’t click on a link from within the email and don’t reply with personal information.
Review your ebank and casino account statements and transactions regularly. Report any discrepancies or unauthorized activities to the relevant customer support immediately. The sooner you address potential issues, the better chance you have of resolving them.
Stay updated about the latest scams and the tricks that scammers use to break through your defenses. Scammers focus on identity theft, bonus fraud, and fake software. Heightened awareness is a powerful tool that will prevent you from falling victim to these scams.
Protect your device with reputable antivirus software to detect and prevent malicious malware. Update your antivirus software regularly to ensure that it remains effective against evolving threats.
By adopting a proactive approach, you can reduce the risk of falling victim to fraud significantly and ensure a secure and enjoyable online gaming experience. Stay informed and vigilant to safeguard your gaming adventure.