Everything You must Know about Security in Sports Betting Posted on May 13, 2022September 4, 2022 by Melusina Douffet The sports betting industry is still in its infancy and is growing at a rapid pace. For the most part, sports betting such as in UFA600 is not illegal in most of the United States. However, there is still a lot of uncertainty around the legality of sports betting in general. That being said, it is becoming increasingly common for American sports fans to bet on sports at offshore sportsbooks. This article will give you what you need to know about sports security in sports betting. The Current State of Sports Betting Security The current state of sports betting security is a bit of a mixed bag. On one hand, there have not been a lot of large-scale sports betting scams on U.S. sporting events. However, there are still some major security risks in the industry due to the infancy of the sector. According to the Global Sports Security Survey, 76% of surveyed sportsbook employees were concerned about sports betting fraud. Biggest Sport Betting Scam One of the biggest sports betting scams in recent history was the WME-IMG acquisition of the UFC. At the time, it was thought to be the largest sports deal in history. However, it turned out to be a massive fraud. It resulted in the loss of more than $600 million as well as the jail time of the owners. The UFC was a particularly popular target for hackers and scammers at the time. Fortunately, these days most sports betting platforms offer basic security features. How does Sports Betting Security Work? Security is often overstated when it comes to sports betting. In many ways, it is relatively simple to set up a sportsbook that is secure. Basically, you need to start by hiring a sportsbook security team with strong backgrounds in security. In addition to that, you also need to use a secure betting platform that has strong security features. A secure betting platform is software that uses any of the following: A combination of passwords 2FA or two-factor authentication Hardware tokens Public address generation These are only few of the security aspects that are used to ensure that your betting information safe. However, setting up a secure betting platform is only the beginning. You also need to make sure that all of the employees at your sportsbook are cleared to work with sensitive information. You also need to make sure that they are using a secure method to submit bets.