iGamingServices, typically in the role of Key Official or part of its IT Support Services provides an invaluable service, helping licensees solve problems or avoid creating problems in the first place.
License Risks:
Licenses are awarded by the LGA through an arduous process to determine that the licensee is up to the task. A license can still be suspended or lost if the licensee fails to comply with the many rules and regulations that govern this industry. Issues related to support, reporting, personnel, affiliates, responsible gaming, fairness of games, complaints logged with the LGA, under-age players, handling of player?s funds ? all these could lead to a situation where the license is suspended or lost.
Game Risks:
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Bookmakers typically require the services of a risk manager or automated systems that enable the complication of odds. Poker is at risk due to collusion between players. Lotteries need to watch for financial fraud and Casinos depend on the accuracy of the RNG. Professional players, Fraudsters or large bets can all put a licensee in difficulty.
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In all cases, the licensee needs to understand the maximum losses that can be incurred and ensure that sufficient funds are immediately available to pay the winners.
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Blacklist should be kept and limits placed on players according to their profile. A risk manager should always be at hand and alerted by the IT systems when risk necessitates it.
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Players paying by credit card can claim their cards were stolen and the payment done without their consent. In these cases, the Banks will typically refund them their payment. This is likely to happen with a new client and iGamingServices regularly assists licensees in setting up controls to detect these players or limit the damage they can cause.
Financial Risks:
iGamingServices is particularly versed in this area of business, drawing from its experience in the Online Payment Industry.
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Fraud: At the core of fraud is the use of false Identity. iGamingServices helps its clients establish proper procedures for establishing identity checks. In addition, the use of Verified-by-Visa now provides an invaluable tool in establishing the identity of a client.
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Money-Laundering: Gaming operations are particularly suitable for money laundering. Indeed, a licensee can be used for money laundering even without the knowledge of the licensee. iGamingServices has completed the proper training on anti-money laundering and has the expertise to assist in the setup of procedures to stop money laundering. Cash cannot be accepted by a gaming operator.
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Credit Cards: A transaction made online is called a ?card not present? transaction. These transactions can be charged back for up to a period of 120 days. iGamingServices has helped many of its clients successfully dispute a chargeback claim. The Phalanx Fraud Detection system in the iGamingServices Payment Gateway regularly detects fraud and iGamingServices?s merchants enjoy a particularly low volume of fraud. Finally, now that iGamingServices offers the Verified by Visa System, fraud is simply not possible as a transaction carried out under VBV cannot be charged back.
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Other Payment Types: Cheques, Bank Transfers and E-Wallets are all commonly used. International cheques are difficult to clear through a bank and often used in fraud attempts. Bank Transfers can be slow when money is coming in ? when used to send money out, very careful identity checks must be carried out as fraud and money laundering ultimately requires the licensee to send money back to a client. E-Wallets should only be used if they are properly licensed to hold money ? no company can offer e-wallet services without a license issued from a financial authority. Licensees should keep in mind that should the E-Wallet go bankrupt, any players money held with the E-Wallet would need to be refunded by the Licensee out if their own pockets.
Legal Risks:
iGamingServices is particularly versed in this area of business, drawing from its experience in the Online Payment Industry.
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As a business operating in Malta, a licensee needs to comply with the Data Protection Act and take all the necessary steps to ensure the proper handling of data entrusted in its care.
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Accepting bets from certain countries or from under-aged players can land a licensee in difficulties.
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Faults with IT systems or with management of bonuses can create situations where players claim money or require compensation for lost bets that would have otherwise been successful.
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Intellectual property disputes between licensee and software developers often arise, especially if the licensee goes into agreements and partnerships with other companies or affiliates who then get access to this software.
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Similarity of names, cyber squatting, encroachment on trade marks happens often in what is an aggressive and highly competitive industry.
IT Risks:
iGamingServices has been involved in mission critical state of the art system from even before the widespread use of Internet. iGamingServices experience in IT is simply unmatched by any other consultancy firm in this area.
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Firewalls: iGamingServices offers hardware and software firewalls which have been audited by third-party tools for secure setup.
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SSL: iGamingServices can apply for and install SSL certificates, advising on which companies are best to use.
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Remote Management: Typically IT personnel is not based in Malta. Again drawing from its own experience of managing its IT assets in different countries, iGamingServices helps many of it clients do the same with the utmost safety.
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Backups: Backups are an important part of a gaming operation. Backups themselves are a source of risk as a stolen tape with client details would be disastrous.
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Scalability: Sooner or later a licensee will reach a level of business that will lead to sluggish websites and complaints from users. iGamingServices knows that the biggest challenge is to detect where the bottleneck occurs and without proper guidance and expertise, a licensee would waste a lot of time and money without solving the problems.
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Databases: Probably the source of most anxiety in a gaming operation. The sheer volume of data and the performance issues is guaranteed to keep databases at the top of IT concerns.
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DDOS, Hacking: The internet is not a place for amateurs. The ways in which a website can be hacked into or put out of action is simply mind boggling. Even the largest companies, such as Microsoft have been put under by these attacks; how then is a licensee to run a safe operation with their more limited resources. iGamingServices has successfully run its own IT infra structure for many years, working in the very high risk credit card industry. iGamingServices?s clients have reason to be confident about their security.
