—TechRound does not recommend or endorse any betting or financial practices. All articles are purely informational—
The one battle betting companies have been having over years is how to cushion themselves from fraudulent users who sign up on their sites. The introduction of technology in the betting field has been a game changer, really helping on this aspect, especially with the introduction of safety features. With the introduced safety features, managing products like bonuses and promotions is made much easier and it is much less tedious making the users abide by the terms and conditions. However, even with the improvements, it emerges that no system is completely safe.
Wincomparator, for example tries to present the bookies with the best ratings in the UK and of which according to the betting websites, they have the best promotions with good security features, to ensure a great customer experience but we all are aware there are hacks that can sometimes throw all the good work down the drain.
Looking At The Journey
Looking back at the journey sports betting has had back in the years, it is easily notable that tech advancements have had a key role in securing the industry. It is because of tech that we now have secure payment structures in the betting scene. End to end encryption has come to revolutionise payments to ensure the security of financial transactions, shielding users’ crucial data that would otherwise be harvested by unethical hackers.
New protocols introduced in making deposits and withdrawals have been able to protect banking details and personal data of the users thus defeating the hackers planning fraudulent activities on these sites. Most of today’s betting sites have also been made tamper proof because of the blockchain technology, which brings decentralised management in the gambling industry. Blockchain technology ensures not only transparency and fairness, it is also key in seeing that betting results are protected from tampering.
This has also been improved by the adoption of biometric authentication across the top betting platforms. Face recognition, use of fingerprints and more have been some of the security features that have bettered the betting industry, preventing unauthorised access.
More Means
As it has emerged that passwords at login don’t come with the best security features for betting companies, bookies have gone on to explore more protective means of securing their users’ accounts. Top in this area is data encryption, which ensures sensitive info stays within the hands that are not only authorised to have it, but can also handle it, and this protects both the company and the user.
Along the same line is the three-factor authentication, to add an extra layer of security, which includes features like entering a one-time password (OTP) sent to their phones as a short message or on email registered under the user. The use of these features, and the algorithms that govern patterns on how the account is accessed play a big part in fending off fraudsters. Tech doesn’t only aid companies in providing user-facing solutions, they also help to ensure compliance.
Today there are a number of software to check on the betting operations, to see that they meet the required legal standards, protecting both the business and the user.
—TechRound does not recommend or endorse any betting or financial practices. All articles are purely informational—
