Online Gambling in the Digital Age
When we think of gambling, we often think of casinos with bulky slot machines, blackjack dealers and stacked poker chips. However, gambling in the 21st century involves much more tech than you can imagine. Online casinos and online gambling sites are becoming increasingly popular since they recreate the fast-paced, high-stakes environment of a real casino. Here, players can deal in real money and have access to a global player base- all on their mobile devices. But, with high-stake online gambling comes high-stake risks. In this blog, we will discuss how digital identity verification can overcome some significant pitfalls of the online gambling industry.
Online Casinos and Underage Gambling
Internet or mobile wagering among underage players is rampant despite the age restrictions imposed by regulators. According to a study involving adolescents, nearly 60-80% of teenagers aged between 11-17 gamble at least once a year. Online casinos today let you bet on virtually anything, that too with lightning speed. Online gambling sites not only host lotteries and casino games like blackjack, poker, baccarat, but also let you bet on live sports (football, horse racing) and e-sports. This makes them a hot ticket for teenagers who want to make a quick buck.
On the other hand, you have online gambling sites that fail to follow identity verification protocols. For example, Rush Street Interactive (RSI), which was slapped with a $30K fine by the New Jersey Gambling regulators for letting underage players gamble online.
Identity Theft and In-Game Purchases
Nowadays, most online games/online casinos offer microtransactions for virtual items. These are great for in-game perks but they are vulnerable to fraud and identity theft. As Techcrunch reports, online criminals have found innovative ways to trick customers into sharing their passwords. For instance, a fake 40% discount on a rare item (gun skins) can be an easy ploy for unsuspecting players who end up giving their card credentials.
Therefore, user authentication and secure identity verification are crucial at high-touch points like player logins and cart checkouts (particularly in online gambling apps).
Digital Identity Verification to the Rescue
The struggle for detecting bad actors, achieving secured identity verification and vetting player profile can finally come to an end with digital identity verification software. Veripass is an AI-based identity verification solution that uses facial recognition and biometrics authentication security to ensure KYC (know your customer) and AML (anti-money laundering) compliance.
Veripass uses unique SDKs to verify the age of an online player. Upon entry, 1:N matching makes sure the player’s face is recognized in crowded areas, different lighting conditions and at odd angles. Blur and glare detection (through machine learning) enables Veripass to return only high-quality images for identity verification. Speaking of ID (document) verification, Veripass uses a robust OCR (optical card reader) to verify legal IDs, making sure only authenticated players gain access to age-restricted online gambling sites.