Technologies that improved security in the online gambling sphere

A recent report said the global online gambling and betting market accounted for $45.8 billion in 2017 and is expected to reach $94.4 billion globally by 2024. That is a CAGR of around 10.9% between 2018 and 2024, which is huge.

Technological advancements have been lapped up by the gambling industry as gamblers in any part of the world can partake in the moolah. But this has also put increasing pressure on the industry to safeguard sensitive information so that players can make real money deposits and withdrawals securely.

And various successful online casino sites have taken up the challenge as they continue to push the envelope of technology to add to the excitement and ensure a safe and enhanced experience for the players. Here’s a lowdown on the technologies that have improved security in the online gambling sphere.

SSL Encryption

SSL or Secure Sockets Layer technology acts as a blanket cover between the request sent by a player via any internet browser and the online casino. With no security in place, the player data will be open to everyone and susceptible to hacks. If you see a casino using SSL technology when you are trying to send sensitive information that means, it’s using an encrypted connection.

The easiest way to spot SSL is that “s” at the end of “HTTPS” in the URL bar on your browser. The process is simple. Once you click or type on a link to send you to the requested site, a request is sent to the server to load the site. But the server asks the site for an SSL certificate first as a means of identification. Once the verifications are done, and the certificate gets digitally signed, you can start your session with the site. Today Transport Layer Security (TSL), an enhanced version of SSL, is being increasingly used.

Random Number Generator (RNG)

If you play roulette, poker or any other popular casino game, you must have noticed the reel symbols or numbers. Ever wondered how those combinations are generated? Through the random number generator or RNG, a mathematical algorithm designed to simulate randomness. Casinos are employing these frequently as the algorithm spits out a sequence of numerical combinations that can’t be guessed beforehand. Usually, casinos can buy the RNG from certified suppliers or apply with independent audit companies that will issue a certificate of completion.
This technology is under constant change. Theoretically, it can be hacked too, but experts say it will take years to determine the exact pattern, making it one of the most secure technologies.

Regulatory Bodies

Various global regulatory bodies certify and grant licenses to maintain the fairness and integrity of both online and land-based casinos. This not only makes casinos in compliance with the regulations but also restores customers’ trust. Here are a few major online gaming regulators and licensing bodies.

Kahnawake Gaming Commission (Canada)

Kahnawake Gaming Commission was formed in 1996 in the Southern Quebec region of Canada and has been licensing both land-based and online casinos. It offers four types of licenses including Interactive Gaming Licenses, Client Provider Authorization, Inter-Jurisdictional Authorization, and Key Person Permit.

Malta Gaming Authority

The Mediterranean island of Malta is famous for the operations of a number of casinos and is also home to the renowned Malta Gaming Authority. It is considered to be the preferred global remote gaming regulator and offer licenses in the areas of remote gaming, remote betting, abet remote gaming and hosting and managing remote gaming operators.

Gibraltar Licensing Authority

Gibraltar Licensing Authority is yet another renowned body that grants licenses to regulate gaming firms. The island of Gibraltar, like Malta, is home to various land-based and remote casino operations. The licenses are issued for the online casinos, betting, and poker.

UK Gambling Commission

All the online casinos operating in the UK need to have a license from the UK Gambling Commission and pay the required licensing and taxes.

New Jersey Division of Gaming Enforcement (DGE)

New Jersey Division of Gaming Enforcement was founded in 1970 in Atlantic City. It enforces the integrity of the gambling industry including betting sports and other games.

Curacao Internet Gambling Association (Curacao)

Located in the north coast of Venezuela, Curacao Internet Gambling Association offers different licenses which cover the gambling industries and the software developers. The regulator is preferred by several remote gambling sites for its simple procedures and favorable taxes.

ACT Gambling and Racing Commission

ACT Gambling and Racing Commission regulates all the betting, racing, lotteries, and gaming machines in Australia.

Banking Security

Casino banking is an important aspect of the online gambling experience. Most of the banks deploy 128 or 256-bit SSL technology to secure customer data. Casinos certified by international industry bodies such as eCOGRA ensure the casino complies with safeguarding customer data.

So, it’s a kind of double security, but players still need to ensure they check out the authenticity of casinos before making a deposit. All the regulatory seals of approvals mentioned above will help.

Conclusion

As we continue to push the envelope of technology, it’s safe to say that playing online has become much more reliable now compared to the old days. In the future, new technologies like the blockchain, cryptocurrencies, VR, and augmented reality will become commonplace.
Such technologies will completely transform how we gamble online, though some of them are still taking baby steps. But it will be exciting to see where it will take the online casino industry in the future.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes