iovation says as operators are sprinting to launch apps and websites, they are putting most of their efforts into getting users with less emphasis on preventing gambling issues. One of the TransUnion company\u2019s partners in the country is SBTech, which will power the Oregon State Lottery\u2019s upcoming mobile sports betting app \u2018Scoreboard.\u2019<\/p>\n
With American football season beginning and more states legalizing online gambling, a\u00a0TransUnion<\/strong>\u00a0company anticipates challenges with bonus abuse, fraud, self-exclusion and underage gambling that it\u2019s seen in Europe for decades.<\/p>\n iovation<\/strong>\u00a0announced Wednesday it anticipates these challenges in the U.S. online gambling market and is responding by launching\u00a0a new package of solutions<\/strong>\u00a0through iovation and TransUnion. The product suite focuses around the\u00a0onboarding of new players and helps U.S. online gambling operators comply with new regulations, combat fraud and improve the player experience.<\/strong><\/p>\n The company is making its prognostication based on its experience in the European market during the past 15 years supporting\u00a0over 100 operators and platform providers there including eight of the world\u2019s ten largest gambling infrastructure providers.<\/p>\n \u201cThe online gambling gold rush today in the U.S. is akin to what we saw nearly two decades ago when iovation first began working with European operators as countries there began to legalize online gambling,\u201d said\u00a0iovation Co-Founder Greg Pierson.<\/strong>\u201cWith states legalizing online gambling and the American fantasy football season kicking off,\u00a0operators are sprinting to launch apps and websites.<\/strong>\u00a0They are putting most of their efforts into getting users with less emphasis on preventing gambling issues<\/strong>.\u201d<\/p>\n Specific issues that iovation anticipates around player onboarding and solves for U.S. gambling operators include five topics.<\/p>\n Age verification<\/strong>. In all states, the legal online gambling age is 21. Much like anything else where there is an age limit, underage people are going to try and participate.<\/p>\n Bonus abuse.<\/strong>\u00a0Many online gambling companies provide incentives like money or credit for betting to attract new players and grow existing relationships. But often,fraudsters exploit these programs which result in real losses for operators<\/strong>. iovation has seen\u00a0bonus abuse rise 287 percent from 2015 to 2018<\/strong>.<\/p>\n Credit card fraud<\/strong>.\u00a0Since 2014, iovation found\u00a0credit card fraud increased in online gambling<\/strong>\u00a0\u2014predominantly outside the U.S.\u2014\u00a0by 155 percent with an average annual growth of 39 percent.<\/strong><\/p>\n Managing play by boundaries.<\/strong>\u00a0With online gambling being legal in one state and then illegal within a neighboring state, operators are going to need to pinpoint a gamblers\u2019 location and limit play if needed.<\/p>\n Self-exclusion<\/strong>. When a player admits they have a gambling problem and \u201cself-excludes\u201d from a gambling site, the operator is now accountable for\u00a0ensuring the player does not resume gambling activities or potentially face penalties<\/strong>. In many instances, a self-excluded gambler tries to set up a new account when they have a change of heart. Or fraudsters set up a new account using a stolen credit card, deposit funds using that card and then self-exclude before the chargeback hits.<\/p>\n iovation has a service provider license in Nevada, with many iovation partners operating in the United States. This includes\u00a0SBTech,<\/strong>\u00a0which will power online sports betting in iovation\u2019s home state for the Oregon State Lottery\u2019s new sports betting brand, \u2018Scoreboard.\u2019<\/strong><\/p>\n \u201cSBTech puts player protection and anti-money laundering at the heart of our platform operations for our partners in regulated regions across the U.S., Europe and emerging markets,\u201d said\u00a0Andrew Cochrane, Chief Development Officer at SBTech<\/strong>. \u201cThanks to our expanded partnership with iovation, these partners now have access to the industry\u2019s most advanced device recognition technology enabling them to instantly identify and authorize verified players and significantly reduce levels of potential fraud.\u201d<\/p>\n The U.S. gambling solution offerings available through iovation and TransUnion combine iovation\u2019s digital identity solutions that uses device behavior and TransUnion\u2019s identity verification solutions, helping to protect the entire player\u2019s journey.<\/p>\n