Casinos have been open to attempts to defraud them ever since the first gaming emporiums opened their doors, and take enormous steps to limit their exposure to unnecessary risk. In the classic sense this usually involved having multiple employees, experienced and trained to spot every trick in the book, keeping an ever vigilant watch over the players. Over time this extended from pit bosses and croupiers through to the extensive use of high performance CCTV as well as undercover security posing as players themselves.

It may sound excessive but even the largest and most sophisticated casinos still need to spend a small fortune every year keeping their risk management as watertight as possible. Yet this begs the question of how online casino risk management works – how do they operate without being able to watch a player? What steps do they have in place to reduce their exposure to electronic fraud, hacking or phony deposits?

Operational risk resulting from inadequate or failed internal processes or systems impacting the operations of the business. Operational risks due to fixed cost nature of the casino business and casino/hotel capacity constraints during peak seasons. Cybersecurity risks from criminals targeting virtual gaming operations. Online gambling is illegal in many jurisdictions and users should consult legal counsel regarding the legal status of online gambling and gaming in their jurisdictions. The information in this site is for news and entertainment purposes only.

We’ll take a look at how risk management works for the top gaming companies in this article, using the popular and firmly established All Slots Online Casino – a great example of a gaming site with many players from across the globe, often enticed with the prospect of some of the best value bonuses to be found anywhere. All Slots real money online casino uses some of the best quality gaming software anywhere, so with this in mind let’s see how the role of risk management varies when applied to an online operation.

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• Operational risk resulting from inadequate or failed internal processes or systems impacting the operations of the business. Operational risks due to fixed cost nature of the casino business and casino/hotel capacity constraints during peak seasons. Cybersecurity risks from criminals targeting virtual gaming operations.
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Risk Management & Online Casinos

Considering that online real money play is one of the fastest growing sectors of the internet economy, there’s now many millions of regular players and the numbers continue to rise. Many of the largest sites such as All Slots Online Casino will have hundreds of thousands – maybe even millions – of registered players, some of whom may be regulars and a great number will be sign-ups taking advantage of bonuses and introductory offers.

Online Gambling Risks And Statistics

This is an important qualification because generally speaking players tend to rarely feel much in the way of loyalty – they look instead for the best offers, use them up and very likely never access their account again. as a consequence there’s huge numbers of ‘passing’ players who will look to take advantage of any means they can find to gain an edge over the site. While it may well be boom times for online gaming service providers, it’s also a rich market of opportunity for potential fraudsters and opportunists.

How Fraudsters Can Target Online Casinos

Risk Management In Online Gambling Sites

First and foremost there’s good reason why the best online casinos invest huge amounts in the software and architecture that runs their games and site. Poorly designed games can be hacked by using gaming scripts that influence how the software performs, and so the first and foremost rule for risk management is to ensure watertight security.

Games themselves will have a projected return for the casino that will automatically be detected should the numbers suddenly take an unexpected direction. In most cases the moment suspicious activity is detected the player will be suspended while an investigation is carried out, and unable to use or withdraw any of their funds. This irks many people as at face value it can appear that the casino is just being shy of taking a loss – however it’s little different to what would happen in a live casino too.

A more common yet equally problematic security risk facing online casinos is players using fraudulent financial details when setting up their accounts. They take advantage of introductory offers and play games with a high potential return, withdrawing any winnings into a separate account (one of the main reasons why Bitcoin has been slow to be picked up by many casinos). Risk management naturally takes this very seriously and all the major casinos will have integrated security software that monitors every deposit and withdrawal as well as the outcome of every spin of the slots or wheel. Alerts will be issued to security staff that a player is either being incredibly lucky or there may be some underhand activities going on – just as would happen at a standard casino.

False claims are another major headache and one of the reasons why casinos will collate and save tens of thousands of game results a day. It’s simple for a player to claim that the site or software crashed and failed to return winnings, and happens to most casinos on a literally daily basis. The small print and terms & conditions used by online casinos often stretches to many pages, with the simple premise being that the house’s decision is always final.

Risk Management In Online Gambling Winnings

So as we can see risk management takes on a crucial and highly technical quality when employed with an online gaming operation, yet the principles remain the same. Unusual results and patterns will always be noticed, and players will usually have few options to protest their accounts being suspended or even closed should they be under suspicion of trying to cheat the system.

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