Top 3 Ever-increasing Cyber Threats in the iGaming Industry

An uptrend in iGaming has regrettably captured the attention of cybercriminals.

The frequency and severity of cyber-attacks are surging at a striking pace. Recent incidents include the breach of the public transport operator Go-Ahead's systems and an attack on NHS services, which substantially impeded functionalities such as patient referrals, scheduling of appointments, and more. Incidents of cybercrime are becoming common fixtures in news reports.

The iGaming sector has witnessed a remarkable surge in popularity over recent years, as numerous individuals now prefer the convenience of online betting for their leisure activities. Regrettably, this uptrend has also captured the attention of cybercriminals. Consequently, there has been a significant escalation in online threats, leading to profound repercussions for both gaming enthusiasts and business providers.

Here, we outline the three most prevalent and escalating cybersecurity challenges facing the iGaming industry today.

Top 3 Ever-increasing Cyber Threats in the iGaming Industry

#1 Social Engineering

Email phishing stands as the most prevalent social engineering strategy employed by cybercriminals. These offenders craft and dispatch emails that impersonate well-known online gambling venues or sportsbook operations, soliciting account details, personal facts, and financial transfers. Occasionally, they concoct decoy websites or landing zones that closely mimic authentic online gaming sites. Users are duped into submitting their login credentials or confidential information, which the swindlers exploit to embezzle money or execute assorted deceitful schemes.

#2 DDoS Attacks

The iGaming industry often faces DDoS (Distributed Denial of Service) attacks. These onslaughts can overwhelm digital platforms, including online casinos, bombarding them with a deluge of web traffic to crash their hosting servers, leading to significant outages. Predators strategically time these cyberattacks to coincide with key events, like high-stakes sporting matches when the activity on sports betting sites surges. Such deliberate disruptions not only halt operations but also seriously damage the brand's reputation. In some instances, these cybercriminals may also demand ransom from the site operators, adding financial extortion to their disruptive tactics.

While betting platforms and other web services can combat DDoS attacks, the situation is both worse and better for ordinary users. Why is it worse? Because if your IP address falls into the hands of hackers during online poker, it is almost impossible to stop the attack. It’s better because if you use a VPN for online poker, then your IP address will not be leaked to the network. When you use a VPN, you can change your IP address in a couple of seconds. VPNs have thousands of them, so there is no shortage of IP addresses. Whether there will be a DDoS attack on a VPN IP address is of no interest to you at all.

#3 Capturing Player Devices

Cybercrooks have a massive playing field these days, diving into spots like Facebook and Twitter. They're slick, spreading nasty programs through stuff as common as emails, sketchy sites, and fake profiles to hook people. Never before has the threat of cyber attacks in the online gaming world been so critical. To keep up with the surge in cyber threats, iGaming businesses have to pump funds into robust digital defense strategies. Rolling out top-notch firewalls, sharp systems to catch and stop hackers, and robust antivirus software is key. Just as crucial is our commitment to regularly sweep for cyber threats, rigorously put our safeguards to the test, and ensure our crew is on point with recognizing potential hazards.

.Photo by Saksham Choudhary | Pexels

Not just companies, but gamers should also armor up in the fight against cyber risks. Adopting complex passwords, enabling multi-factor authentication, and steering clear from dubious links and email communications are the basics. And don't forget, beefing up your password game and turning on multi-factor authentication are key moves to dodge those sketchy links and phishing scams. This also includes Edge VPN, which encrypts data before sending and prevents any manipulation of your data.  Edge VPN scrambles your info before it heads out, blocking anyone from messing with it. Ramping up your data defense game is key; it's like leveling up in security, ensuring you stay safely ahead without slipping into avoidable danger zones.

Wrapping Up

Every team member, not just the IT crowd, has to pitch in and make cybersecurity part of their daily routine to protect our operations and keep our customer's confidence rock-solid. Cybersecurity isn't just for the tech crew; it's a team sport where everyone plays a part to keep things running smoothly, earn customers' trust, and protect our brand's good name.

In the iGaming world, think casinos and sportsbooks, a slip-up in cybersecurity can mean game over: services grind to a halt, players lose trust fast, and before you know it, your good name is trashed.

Many organizations mistakenly view cybersecurity solely as an IT concern; however, it is imperative to recognize that effective cybersecurity strategies require company-wide engagement and should be integrated into the organization's standard operating procedures.

iGaming companies are commonly targeted by a variety of cyber threats, including but not limited to DDoS attacks, phishing scams, ransomware, and other malware varieties. To stay ahead of cyber threats, it's key that a company pumps resources into nailing down ways to spot and block potential attacks. Having a solid plan to bounce back from cyber attacks is just as key as spotting and stopping them in the first place.

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