iGaming is a digital industry that has undergone immense growth in recent years. Millions of players across the globe now play casino games and place wagers on all manner of events online… you might even be among them!
Thanks to its increased profile (Mordor Intelligence data suggests the industry will grow to $153 billion by 2029) iGaming has established itself as a leading player in the digital entertainment field. Like all digital sectors, however, online gambling is at risk from hackers and cyberattacks. Securing gaming platforms and apps, then, is more important than ever here in 2024 and beyond.
Luckily, though, the sector doesn’t have to look a million miles for the solution. Just as technology has upended and revolutionized the gaming experiences, it’s also birthed a number of cutting-edge innovations that directly address challenges in cybersecurity. Today’s gambling operators can deliver wagering and gaming experiences without compromising player safety and security—great news for punters!
Whether you’re a keen online gamer, a cybersecurity enthusiast, or simply curious about the application of advanced tech “behind the scenes” in a booming digital sector, keep reading to find out what’s involved in safeguarding online gambling platforms.
Why Cybersecurity Matters in iGaming
Nowadays, it’s actually pretty hard to identify any digital industry that’s not susceptible to cyber attacks; the gaming industry is certainly not alone here! There are, however, unique challenges that iGaming operators need to address.
As we mentioned, this sector generates billions in revenue. Add that to the sheer scale of gamers worldwide and you have a goldmine of financial and personal data that needs to be safeguarded. Cybersecurity is paramount!
There are also a lot of moving parts involved in iGaming platforms, particularly full-service casinos that offer slots, and card and table games like roulette online. RNGs may guarantee the integrity of the platform, but with payment gateways involved every time players look to withdraw their roulette payouts from a digital casino, for example, this can open up further vulnerabilities in security. Casinos everywhere have spent a lot of time and energy figuring out how to patch these and keep their players safe when they’re accessing their roulette payouts – and other rewards.
Cyberattacks in Online Gambling
What type of threats are gambling operators and iGamers facing online? According to the UK’s National Cyber Security Centre (NCSC), digital gaming industries can be susceptible to credential stuffing, DDos, and phishing attacks.
Ransomware attacks, meanwhile, though not as frequent as others, can occasionally present a more severe type of threat. They’ve also improved in recent years, making them more dangerous.
And if you’re not familiar with these terms? Here’s a quick breakdown:
Credential Stuffing: using data gleaned from past breaches, hackers input usernames and passwords so they can access player accounts.
Distributed Denial of Service Attacks: attacks that blast servers with excessive waves of traffic, seeking to cause disruption or service outages.
Phishing: the creation of identical or nigh identical websites to pose as a legitimate entity and trick platform users into giving up sensitive info—we’re talking account passwords, credit card details, and more.
Ransomware: This is a malware attack used to encrypt a platform’s data, rendering it inaccessible to owners until a ransom is paid.
The Advanced Technologies Strengthening Online Gambling
While there may be several cybersecurity risks involved in the online gambling industry, reputable operators are investing in the latest technologies to combat threats. In fact, you’ll find that major gaming brands are shoring up their iGaming platforms and mobile apps with advanced tech for the long term… Starting with advanced encryption technologies.
Encryption remains the foundation of cybersecurity in iGaming. Today’s platforms have a whole pile of techniques – advanced encryption protocols such as TLS 1.3 and AES-256 – to protect everything from user credentials to payment information. End-to-end encryption technologies ensure that this data is secured at the source by scrambling it into illegible code that can only be decrypted by the intended recipient.
As if that wasn’t enough, some operators are even looking into adopting quantum-resistant encryption algorithms. Innovations like lattice-based cryptography have the power to future-proof digital platforms against potential threats in Web3 and metaverse scenarios.
And what are the tools being used here? OpenSSL, while confusingly named for the now expired previous form of encryption protocols, nevertheless provides iGaming developers with robust Transport Layer Security (TLS) implementation. When paired with backend security tools like HashiCorp Vault, site owners can ensure all of a platform’s processes are secured against potential attacks, which is essential when it comes to real-time player interactions like placing wagers, depositing to accounts, making withdrawals, etc.
Secure payment processing technologies also play a crucial role in protecting the financial transactions that take place at online casinos, betting platforms, and their ilk. There are several layers to safeguarding the money element of real money gaming, with reputable payment gateways like PayPal and Stripe offering end-to-end encryption and tokenization across deposits and withdrawals.
Additionally, 3D Secure technology is taking this world by storm across online gambling verticals and other industries too. It’s a multi-factor authentication protocol that adds an extra layer of security by requiring users to verify their identity with a two-step login process: using your phone to receive a passcode and then inputting it online is the commonest example. User security is also central to software solutions like PaySafeCard and Trustly, which facilitate payments and financial transitions without needing to share bank details.