Adopting modern technologies in online gambling has placed the industry on another level. It is impossible to write about the fastest-growing sectors in the world without mentioning the gaming industry. However, the fun of gaming and winning incredible prizes come at a cost – unimaginable security risks. Sports betting involves a lot of data sharing by users offering a profitable platform for cybercriminals to target.
The industry always has cybercriminals lurking in the shadows targeting data which is now the most precious commodity. Thanks to technology, the ever-growing security issues in the gaming world can now be detected and prevented before they occur.
The high volume of money in the betting industry attracts hackers looking for opportunities to access users’ data and steal funds. More than 10 billion credential-stuffing attacks have occurred in the gaming industry, the highest in any industry. The number of blocked attempts to redirect users to malicious sites is also rising.
As a result, gaming providers must adopt the latest cybersecurity inventions to deter scammers and fraudsters who are more sophisticated than ever. Since their emergence, online casinos and sportsbooks have been keen to provide customers with the most secure online environment. Top casinos like BetMGM is a reliable and reputable platform available for Maryland players and bettors, and have top-end systems guaranteeing the security of their customer’s data.
Before learning the protection methods, let’s start by looking at the cybersecurity trends in the gaming sector.
Rise of Unauthorized Installations and Piracy
Pirated games and unauthorized installations are on the rise in the iGaming world. According to recent findings, unauthorized download of pirated materials, especially mobile games, utilizes around 24% of the world’s internet bandwidth. These downloads are made possible by third-party app stores.
These untrustworthy apps contain malware that hackers use to access players’ data and use it for illegal activities. The apps also deprive game creators of their legitimate revenue.
Reverse Engineering
Reverse engineering involves dismantling something to determine how it works. In the gaming sector, reverse engineering is time-consuming as hackers seek to understand the relationship between game clients and servers. However, this does not make it impossible; hackers, too, have become sophisticated.
The attackers apply reverse engineering techniques to exploit the game’s unsecured codes and get around in-app purchase checks and licenses. They may even change game mechanics and share apps with other parties granting them unlimited access. Such a hack is costly to game creators who lose revenue and players whose information is exposed.
Rise of Malware
Some popular online games have become notorious for spreading malware on computers and mobile devices, exposing gamers to security breaches. Many industries have even been held to ransom when hackers have used software like this to access personal details of customers.
Atlas VPN data shows that unwanted software related to gaming, such as malware, spyware, and adware, infected over 303,000 computers between mid-2020 to mid-2021.
Mobile gaming is at the highest risk, with over 50,000 gamers attempting to download and install malicious files concealed as popular mobile games. Such games targeted by hackers include Minecraft, PUBG, The Sims 4, and Grand Theft Auto V. Players downloading and registering on these games end up giving their details to fraudsters without their knowledge.
Identity Theft
The player’s identity is very crucial, and gamblers try as much as possible to protect it when playing on online platforms. Theft of personal data can lead to heavy financial losses if hackers access the user’s bank account. In addition, the stolen data can be used for illegal activities, which can land one in legal problems.
Technology Trends For Protecting Users’ Data
Let’s look at the technology trends used by gambling platforms to safeguard the data of sports betting users.
Secure Payment Systems
Most of the data theft cases in gaming happen at the payment stage. Gaming providers have adopted several technologies to safeguard payment transactions and protect against data theft. One of the adopted technologies is the blockchain.
Online casinos and sportsbooks have begun to accept payments via cryptocurrencies which offer a high level of anonymity and cybersecurity. Blockchain technology operates on a peer-to-peer platform eliminating third parties from the transactions. This protects the user’s information does not fall into other people’s hands.
Crypto wallets like PayPal, Skrill, and Neteller do not collect punters’ information enabling players to gamble anonymously and keep their betting lives private.
Encryption and Tokenization
Online gaming is all about data, with everything being on the database. From the gaming software to the user interface to payment gateways, all these data could be very detrimental if they land at the wrong person. Therefore, gaming publishers must provide the best data encryption technology to guarantee clients’ information is safe.
Encryption and tokenization technologies are new technologies being used by online bookmakers to secure customers’ transactional data from unauthorized third parties. The two methods work differently but are both useful in protecting every form of digital data.
Encryption encrypts data rendering it unreadable to third parties. Only people with decryption keys can read and understand the data. Top casinos and sportsbooks apply Secure Socket Layer encryption to protect clients’ data and money. SSL offers encrypted connections between the browser and the website.
A player can determine whether a casino site has SSL by checking if the URL states HTTPS://. Any website without encryption should be avoided as it can be easily hacked.
On the other hand, tokenization involves substituting sensitive data with less-sensitive data known as unique identification numbers or tokens. Tokenization payments are highly secure as they provide additional security layers. The process is very critical in the iGaming industry.
Conclusion
Data leakage is a significant safety issue in the gaming industry, particularly online gambling. Hackers are looking for new ways to infiltrate gaming networks and steal bettors’ data and money. Piracy, unauthorized installations, a rise in malware attacks, identity theft, and reverse engineering are the industry’s new cybersecurity trends.
Secure payment systems, data encryption, and tokenization are among the new trends adopted by game developers to protect their clients’ data. It is essential to confirm whether your favorite casino guarantees the safety of your personal and financial data when playing.