No one is immune from fraud — except for those who know how to prevent it. In order to do that, online casino or sportsbook operators need the ability to make the most of big data, to sift through the endless stream of information and sort out what matters and what doesn’t. Slotegrator offers an updated anti-fraud module in its new platform to help operators collect big data for their projects.
Data is everywhere: in our emails and social media profiles, in ads and e-shops, at school and work, on our phones, laptops, cars, watches, TVs — there is simply nowhere we go and nothing we do without generating some kind of data, and the sum total of it all is dizzying. This digital transformation has come to define he way we live.
The Three Vs of Big Data
Big data is defined by three Vs: volume, variety, and velocity. Businesses have to process a deluge of diverse forms of data, including ID documents, emails, and more, and every day there’s more data coming in than the day before.
Aside from individual data, gambling businesses also look at market data. To analyze the potential of a new country of operation, players’ demand, perspectives on investments and expansions, operators use various types of data from surveys, industry reports, official statements, etc.
Another source of data for gambling operators is their own business. The iGaming industry benefits here from the very beginning — players are required to provide a lot of personal information, making this type of business itself a portal for a big data.
Modern back offices use various metrics to analyze their project’s performance. The list of KPIs to study will most probably include GGR (Gross Gaming Revenue), NGR (Net Gaming Revenue), FTD (First-time Depositors), CPA (Cost per Acquisition), Conversion Rate, Churn Rate.
These metrics are used to track player behavior, marketing and sales effectiveness, and business growth or recession, as well as identifying strengths and weaknesses of the project to help with planning future development. Using them to assess your performance is a must, not an option.
Big Data Improves Security
Another important aspect where big data analytics help is security.
Gambling addiction, underage gaming, risky behavior, fraud, money laundering — these unwanted things can be prevented or excluded by constantly monitoring and analyzing data. Doing this manually is almost impossible, which is why there are automated solutions for operators who value time and security.
Slotegrator — an online casino solution developer and gaming content aggregator with 10 years of industry experience — has recently updated its gambling platform solution, including its anti-fraud module. The module protects gambling projects’ financial security, collecting information about any risky moves or suspicious activities, which facilitates risk-management and guards against fraud. All the collected information and aggregated statistics are structured in a simple and clear database for operators to easily process and analyze. The anti-fraud module also allows setting notifications in case of suspicious activity.
Another helpful feature is the Business Intelligence module. The company’s BI module allows operators to process huge volumes of information for any chosen period of time — and any time — quickly and easily, including player behavior, game history, bonuses, deposts, etc
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