Gambling with Security: Mitigating Threats to Online and Mobile Gaming
Published February 3, 2020 WRITTEN BY ED TITTEL. Ed Tittel is a long-time IT industry writer and consultant who specializes in matters of networking, security, and Web technologies. For a copy of his resume, a list of publications, his personal blog, and more, please visit www.edtittel.com or follow @EdTittel In this time of the COVID-19 pandemic, we’re all spending more time on our PCs and smartphones. It might seem odd, but The Business Research Company’s Global Online Gambling Market report asserts that online gambling has skyrocketed in 2020. This is because home-bound punters, blocked from visiting brick-and-mortar gambling dens, are turning to online gambling destinations in droves. This makes protecting games of chance — and their players — against online gambling security threats more important than ever, especially where mobile gambling security is concerned. Online gambling is in hackers’ crosshairs In June 2020, Security Boulevard published a discussion of cybersecurity for the online casino and gambling industry. It exposes a number of clear and present dangers that face online gambling developers and involve more than hack attacks (though those are also quite prevalent). Access to gambling platforms themselves can come under direct attack, but smart attackers also recognize that scamming gamblers is another avenue of more indirect attack. By stealing customer information, attackers can ultimately access their money at far less risk to themselves than a “fair game” of chance. The revenue streams involved can also be quite substantial. Grand View Research estimates the size of the global online gambling industry as $53.7 billion in 2019, and a compound annual growth rate of 11.5% is projected from 2020 to 2027, for a global market size of $127.3 billion by that year. Europe dominated the 2019 market with $22 billion in receipts, but the US appears headed for the top in the short term, with Grand View Research projecting its market size at nearly $103 billion by 2025. The Asian market is also coming on strong, as more online venues that serve its populations keep appearing. Cryptocurrency payments are becoming the norm in gambling apps and applications, as online gambling and casino operators switch to Bitcoin and its various counterparts. From a security standpoint, cryptocurrency is attractive because gamblers need not enter their personal data during deposits, and blockchain systems are nearly hack-proof. In addition, cryptocurrency transaction fees are much smaller (sometimes zero) than for a traditional payment method such as credit or debit cards, bank account access, and so forth. Deposits and withdrawals are faster, too, while maintaining player anonymity. More players means more attack vectors Desktop PCs, with their larger monitors and display areas, still dominate online gambling by user count. But as smartphone size and resolution have increased over the past decade, momentum is shifting toward mobile users. Mobile online gambling applications are looking for traction, with more variety in deposit options for playing funds, loyalty points, and interactive play with others around the globe. Mobile technology continues to exert a massive influence on online gambling. Trends such as social gambling and a proliferation of mobile gambling applications signal oncoming changes in gambling habits and practices. Given that somewhere between a third and half of the global population has ready access to a smartphone, casinos and online gambling organizations are investing ever more heavily in gaming applications, especially […]
