US Online Gambling Operators Seeing High Player Fraud
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US online gambling fraud attempts declined 16% this year. US rates are still higher than Europe's. TransUnion released new research yesterday. Suspected digital fraud against legal gambling operators increased 50.1% from Q1 2021 to Q 1 2022.
Fraudster attempts against US online gambling operators are high at the moment. European operators have more experienced marketplaces and are more successful at spotting and preventing such attempts. TransUnion only works with legal online casinos.
Fraudsters are looking for new opportunities or points of vulnerability. Companies should focus on optimizing the customer experience for good customers.
TransUnion provided OPR with online fraud rates in the US compared with global rates during Q1 2022 vs. Q 1 2021.
TransUnion reports that US Online Gambling Operators Seeing High Player Fraud.
Suspected online fraud attempts in the global gambling industry were up 50.1%. In the US, suspected online Fraud attempts declined 23.12%, with suspected fraud in US gambling down 16.18%.
TransUnion works to prevent online gambling fraud. One of the forms of attempted fraud against US online casinos comes from exclusion lists. Online poker is a target for chip dumping. Online poker has a higher prevalence than online casino.
Chip dumping is when two players collude to have one bettor lose chips to the other. It's common in money laundering and can be used by players acting as a team in a poker tournament. Gibraltar-based 888poker said chip dumpers will have their funds confiscated and be permanently banned.
Online poker operator WSPO has a presence in the US. Innocent players sometimes get caught in crackdowns against chip dumping.
Some chip dumpers try to conceal their actions. They try and make their dumps appear like legitimate hands. Some random recipients of their chips may be implicated in the scam.
