Must Read For A Gambler
Read on for some interesting new developments that may change the way gamblers operate. In the news recently were some gaming sites that have collaborated with fraud detection services companies to cut down on the fraudulent transactions.
Luck has a particular habit of favoring those who don’t rely on it. The saying seems to have caught the imagination of the online gamblers in a big way. And it appears to have caught up in a manner not intended. What else explains the deceptive measures being employed by them to make fortune? Whether there is any answer, the recent developments will certainly raise a few questions though. These questions are sure to test their resolve in continuing with the unfair means.
Online gamblers have always stayed one step ahead of the strict monitoring mechanism put in place by the gaming companies. Guess, they derive more pleasure in fooling the security than making money. The modus operandi they generally follow is to use credit cards that do not have sufficient limits to deposit funds at the online gambling facilities. After having deposited the money, they try to withdraw it before the fraud can be detected. Another tactic employed is to charge back the transaction to avoid getting billed by the credit card company. This is followed by a withdrawal of money from the casino account.
The casinos, on the other hand, employ services of software experts to identify fraud. There is a huge investment that goes in the safety and security measures. This game of one-upmanship is as old as the gambling itself. The only new introductions are the more novel ways of committing and detecting fraud. The online gambling companies have recently got a shot in the arm with the introduction of upgraded systems for spotting scams.
A leading online gaming company has entered into partnership with Iovation, the pioneer in online fraud-detection services and devices. As a result of this, latest Iovation technology will be integrated into the already existing software platform of the gaming company. How the system works is that it matches the credit card number and the IP address (which is the unique identification number of a computer) of the system used to participate in the online gambling with a database. This database has a complete detail of all frauds that have happened in the past. In case, there is a match between the information provided by the player and the existing details, the transaction is aborted.
There is another company that has made a similar announcement this past week. They are also offering an innovative service based on their state-of-the-art signals technology. The intention again is to empower online casinos and other gambling sites and help them prevent card-related frauds. The software introduced by them checks transactions on a real-time basis against a 500 million strong Global Fraud Alliance (GFA) repository. The database is regularly updated with the newer fraudulent transactions, as and when they happen.
The new innovations, without a shadow of doubt, come across as a shot-in-the-arm of the online casinos. Will the gamblers still find a way to get around? Are you a punter yourself? Where are you going to put your money on this?