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.
How The Covid-19 Pandemic Affected Sporting Events And Sports Betting Posted on April 4, 2020July 31, 2020 by Ormazd Courtois Trusted and reliable online casino sites, such as judi online, allow people to conveniently and safely play poker games for entertainment and of course for money. With such trusted sites, players are sure to have a great time playing. Many find online casinos quite enjoyable and convenient as they could play different casino games using their computers or any mobile device, like their smartphones or tablets. Furthermore, with an online casino, people who love these games of chance could play them at any time of the day as well as anywhere they want. With the Covid-19 pandemic, people in many nations across the globe are ordered to stay at home to avoid catching this fatal virus. Because of this, online casino sites are rising in popularity since people look for ways to entertain themselves while at home. Effects on Sporting Events However, although these online gambling sites are played through the internet, the pandemic has still greatly affected the industry of gambling, most especially the market of sports-betting. Gambling venues are shut until further notice and many counties have closed their borders as this would be the only way for the world to unify and combat the spread of the extremely transmittable and fatal virus. For the time being, just about every major sports league stopped and sporting events cancelled and postponed hitting bookmakers really hard, with share values in registered gambling companies plunging ahead of collapsing markets. Every March, for instance, billions of dollars are betted on the women’s and men’s basketball playoffs of the NCAA. Because of the pandemic, March Madness didn’t push through. This means that the 8.5 billion US dollars in total bets from about 47 million people in American didn’t happen as per report by Sports Illustrated. The impact of the pandemic on the world of sports carry on to evolve quickly. To date, no sports leagues in the US are active at this time. The National Hockey League (NHL), National Basketball Association (NBA), Major League Baseball (MLB), Xtreme Football League (XFL), as well as the Major League Soccer (MLS) have indefinitely put off tournaments after Rudy Gobert of the Utah Jazz got a positive result for Covis-19. The Masters was also suspended by the Augusta National Golf Club and NASCAR followed suit by open-endedly suspending their events as well. Likewise, on April 1, the British Open and Wimbledon has declared complete cancellations. Sports and Futures Bets – What Happens to Them? After the suspension and cancellations of sporting events, the question now resounding in the industry is by how and what means sportsbooks will deal with futures bets as well as other wagers throughout shutdowns related to the pandemic. LSR stated that numerous sportsbooks specified that futures bets will be put on hold until there is more defined and clear information on if or when sporting events will continue. Futures markets on postponed or cancelled leagues are also taken down by several sportsbooks as well. For accurate details, you have to study the rules and guidelines of the sportsbook you wager in. For instance, some sportsbooks are making refunds on bets connected to conference tournaments that were cancelled, as well on teams that were eliminated before the cancellation took effect.