Improving convenience and reducing fraud for Canadian gaming customers
According to a recent global survey1, more than one in four prospective customers have abandoned a registration process with an online gaming site.
In Canada, lotteries and gaming have evolved over the past few decades from a relatively minor — if enjoyable — source of weekly televised entertainment, to a major industry employing thousands of people and providing more than $9 billion per year in revenues to provincial governments. In 2017, Canadians spent $17.1 billion1 on government sponsored games of chance and related services (e.g. food and accommodation), this volume being but a subset of the worldwide gambling market, which is predicted to reach annual revenues of USD$565 billion by the end of 20222.
Given the scale and scope of this industry, it is no surprise that fraudsters have been attracted to it, and that the question of how to secure the identity of customers has become an urgent one — indeed, online gaming in particular suffers from the risk of account takeovers and a range of frauds enabled by registrations created on behalf of “synthetic” identities. Yet efforts to prevent fraud have brought their own costs, as requirements to show or transmit physical pieces of identification add significant delays and inconvenience to the registration process. According to a recent global survey, more than one in four prospective customers have abandoned a registration process with an online gaming site3. Fortunately, digital ID has the potential to significantly alleviate both of these problems. In this white paper, we’ll explain how.
1 National Economic Benefits of the Canadian Gaming Industry, Canadian Gaming Association (2017 figures)
2 The Growing Gambling Industry: Forecasts, Technologies, and Trends, The Business Research Company (Feb 2020)
3 Account Opening in the Online Gaming Industry, Jumio