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Efficient Payment Fraud management in the iGaming space
The most important component of any iGaming business is to have fast and safe payment transactions. Since all those games in the industry (poker, casino, bingo, sports betting etc) involve a monetary payoff, it is important to avoid any friction in the payment process. If one were to observe the largest iGaming markets, such as the UK, Italy and Sweden, one would see how highly competitive the industry is. With a structural change taking place in the United States, analysts at Goldman Sachs predict domestic iGaming market size growth from $1.5B today to $14B in 2033 (27% CAGR vs 18% E-Commerce benchmark).
Six Payment Priorities for the iGaming Industry
In our previous blog, we explored the importance of fraud mitigation for payments in the iGaming industry. However, it is important to stress that implementing fraud prevention tools alone are not enough. Fraud management must work alongside efficiency-boosting solutions to make sure that a seamless payment experience goes hand in hand with strong compliance. Hence this blog will discuss the various payment solutions and features that are important complements to anti-fraud solutions in the iGaming industry.
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