As the increased use of free spins, promotional bonuses and introductory offers grows in a bid to boost new player sign ups, operators also unwittingly incentivise fraud from bonus abusers.
Fraudsters use fake and synthetic identities plus different devices to create multiple accounts across igaming platforms, exploiting offers aimed at new players and cheating the system of promotional giveaways.
The latest SBC Webinar saw host Rebekah Jackson, Director of Gaming at GBG, joined by a team of experts to analyse the most impactful strategy to combating bonus abusers.
Speaking on the panel, Lance McIntosh, Head of Compliance at Playstar Casino, stated that bonus abuse should not be seen as the price of doing business, but that it is very much a problem in the industry.
As the practice continues to grow, he emphasised that it is costing operators ‘time, money and resources’ to combat, describing the inherent acceptance of bonus abuse as ‘really troubling and not how it should be’.
He also revealed that there are multiple layers to the problem as the industry seeks to tackle it and ensure the threat of fraud is minimised.
The webinar, which also featured Laura Barrowcliff Global Head of GBG Trust at GBG; Crystal Blythe, VP of Customer Success and Fraud at IDology; and Frida Ericksson, Managing Director at Aptus Consultancy, comes at a vital time for the industry with bonus abuse reportedly costing gambling businesses 15 per cent of global revenue.
To view the webinar in full, click here.
