Industry Awards
iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report
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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.
Industry Awards
Double Win For Kaizen Gaming at 2024 EGR Marketing & Innovation Awards
![double-win-for-kaizen-gaming-at-2024-egr-marketing-&-innovation-awards](https://gamingnewsroom.com/wp-content/uploads/2024/06/129049-double-win-for-kaizen-gaming-at-2024-egr-marketing-innovation-awards.jpg)
Kaizen Gaming wins ‘Best Native App’ and ‘Responsible Gambling Marketing Campaign’
Kaizen Gaming, one of the world’s largest GameTech companies, has achieved another significant milestone, securing two prestigious wins at the EGR Marketing & Innovation Awards held in London earlier this month. Recognised for ‘Best Native App’ and ‘Responsible Gambling Marketing Campaign’, the double win reaffirms Kaizen Gaming’s steadfast commitment to delivering unparalleled, safe and secure betting experiences for its customers.
The ‘Best Native App’ award is given to the operator that has developed a market-leading native app over the past 12 months. The award highlights the remarkable success of Kaizen Gaming’s and its premium brand’s, Betano, highly engaging mobile-first strategy, resulting from a commitment to ever-improving game play, elevated experiences and a laser sharp focus on customer centricity.
Kaizen Gaming was also celebrated at the awards for its impactful promotion of responsible gambling. The campaign for Stoiximan, the sports betting and gaming brand Kaizen Gaming operates in Greece and Cyprus, featuring top Stoiximan Super League (Super League Greece) footballers and the tagline “If you’re always in the game, then it’s not a game anymore,” garnered over one million views on YouTube and extensive media coverage, amplifying its significant success in raising awareness.
Pablo Puertas, Marketing Director of Kaizen Gaming, commented: “Winning twice at this year’s EGR Marketing and Innovation Awards is a fantastic recognition of the hard work and dedication of every single person at Kaizen Gaming. With an exciting summer of sports ahead and a growing number of fans embracing mobile-first entertainment, our team continues to set new standards in delivering the most trusted and exceptional sportsbook experiences available worldwide. Crucially, ensuring strict adherence to regulation and customer access to essential support and tools for responsible gambling will always be our top priority. Working with top sports stars in our awareness campaigns helps us to effectively communicate the importance of participating responsibly in betting activities.”
The EGR Marketing & Innovation Awards honour the most innovative and creative companies in the online gaming industry. Celebrating commercial success, game-changing innovation, exemplary customer service and marketing prowess, the awards highlight companies and individuals who have excelled in the last year.
Kaizen Gaming’s double win at this year’s awards builds on the company reaching new heights in the world of sport with it also becoming the first bookmaker to gain approved partner status for both UEFA EURO 2024™️, and CONMEBOL Copa America™️ 2024. The company also recently joined the English Premier League, with Betano becoming Aston Villa FC’s principal and front-of-shirt sponsor.
The post Double Win For Kaizen Gaming at 2024 EGR Marketing & Innovation Awards appeared first on European Gaming Industry News.
Industry Awards
The Winners of the 7th AskGamblers Awards Have Officially Been Crowned
![the-winners-of-the-7th-askgamblers-awards-have-officially-been-crowned](https://gamingnewsroom.com/wp-content/uploads/2024/06/129021-the-winners-of-the-7th-askgamblers-awards-have-officially-been-crowned.jpg)
On 13 June, the 7th AskGamblers Awards officially concluded with a long-awaited grand finale held in Belgrade, Serbia. During the glamorous gala event, esteemed AskGamblers guests, renowned industry experts, officials, and partners had the opportunity to watch the winners in all the casino, slot, and affiliate categories be crowned live.
Here is the complete list of all the 7th AskGamblers Awards winners:
- Best Casino – Tsars Casino
- Best New Casino – Run4Win Casino
- Players’ Choice Casino – Bitkingz Casino
- Best New Slot – Big Bass Amazon Xtreme Slot (Pragmatic Play)
- Best Provider – Yggdrasil Gaming
- Best Partner – Mate Affiliates
- Best Manager – Mariia Plakhotniuk (Richard Casino, Stay Partners)
- Best Betting Operator – Partners.io Affiliates
As is tradition, the night before the gala was reserved for the annual AskGamblers Awards Charity Night, during which an outstanding €110,000 was raised, breaking the record anew. The total sum raised at the auction will be donated to a charity organisation shortly.
Commenting on the AskGamblers Awards process and the two finale events, Dijana Radunović, General Manager at AskGamblers, said: “Every year we set up a challenge for ourselves to top the previous year and we’ve managed to complete our mission successfully once again. I couldn’t be more proud of all the hard work our team has put into the organisation, preparation, and execution of the entire AskGamblers Awards, including the two crowning events.
“We wish to thank every single player for casting their votes and helping us shine a light on the best of the best in the industry, as well as all our guests for making the two nights absolutely unforgettable. Warmest congratulations to all the winners and we can’t wait to see you all again next year!”
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Industry Awards
IGT Wins Diversity and Inclusion Category at 2024 Women in Gaming Diversity Awards for Second Consecutive Year
International Game Technology PLC announced that it won the “Diversity and Inclusion” category at the 2024 Women in Gaming (WIG) Diversity Awards last week in London. The annual awards program recognizes individuals and organizations for their outstanding commitment to enhancing diversity, equality, and inclusion within the gaming industry. This marks the second year in a row that IGT has been recognized in the same category.
“Winning the ‘Diversity and Inclusion’ category at the WIG Diversity Awards for the second consecutive year reinforces IGT’s standing as a leading workplace committed to embodying a culture of empowerment for all colleagues globally,” said Brian Blake, IGT Vice President, Diversity, Equity and Inclusion. “We are passionate about embedding equality across all facets of our organization and will continue to raise the standard of excellence in the gaming industry, inspiring our employees, stakeholders and community partners.”
Since IGT created its Office of Diversity & Inclusion in 2018, the Company has executed various programs, policies, and systems that have promoted multiple dimensions of diversity, equity, and inclusion. These include facilitating mandatory and elective employee training courses that support the Company’s anti-discrimination commitments, implementing more inclusive and equitable hiring processes, and offering competitive benefits for same-sex partners.
IGT has also expanded its global roadmap for its employee-led and executive-sponsored employee impact groups, which include the Women’s Inclusion Network (WIN), ACE (Employees of African descent), PRIDE (LGBTQ+), Wealth of Wisdom (employees 50+), NEXGEN (millennial and Gen Z employees), Military at IGT (supporting those who have served), SuperAbilities (empowering people with disabilities), and Well-Being at IGT (mental health).
The post IGT Wins Diversity and Inclusion Category at 2024 Women in Gaming Diversity Awards for Second Consecutive Year appeared first on European Gaming Industry News.
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