Secure Betting: How Two-Factor Authentication is Protecting Players
Online casinos must protect their clients from any kind of fraud that may arise in their interaction with them. Two-factor authentication is among the top recommended strategies for this. Some jurisdictions have gone further by making it mandatory for all casinos to enable this feature. The online gambling industry has experienced rapid growth over the last decade which has attracted more investors into it. This has heightened the level of competition to benefit players since these platforms have refined their services to beat the rest. It has also increased the value and frequency of lucrative bonuses and promotions that casinos offer leading to more gifts.
However, this meteoric rise has increased by online predators targeting online gamblers. The most common kinds of fraud include payment fraud, identity fraud, and chargeback cases. Since casinos obtain critical info, a slight security lapse can lead to catastrophic damages. Most casinos use top-notch encryptions similar to the ones used in financial institutions to protect their clients. They also use firewalls to secure their databases. Just like all other companies, they have legally binding privacy policies that define how they will use the information provided by clients. All of them have worked perfectly, but are they enough?
Unfortunately, despite all these measures, cases of serious fraud have been reported leading to irreparable damage to casinos. Since most casinos like Bruce Bet Casino recognize the value of safety and security, they go beyond the ordinary and do all it takes to secure their accounts. Let us take a look at how two-factor authentication is becoming a major promoter of secure betting.
What Is Two-Factor Authentication?
This tech works exactly as the phrase suggests, it enables users to prove their identity using two different factors. Most platforms require users to sign up and provide a strong password containing a mix of letters, numbers, and symbols that will be used to sign. With two-factor authentication, the site will require more. This could be a one-time password usually sent by email or phone number when trying to sign up or biometric data such as fingerprints or face ID.
It could be possible for the best hackers to access your password. However, the next level of security will deter them from accessing your account. Hackers use sophisticated methods to access passwords. They include phishing, keyloggers, stuffing attacks, and social engineering among others. The tech industry is continuously evolving so it is possible to find new hacking methods under development. Hence, with these endless possibilities, two-factor authentication provides the much-needed protection.
Utility in Online Casinos
Online casinos have the responsibility of ensuring security, so they usually activate two-factor authentication on their sites. Many would imagine that the greatest risks lie in the access of the users’ accounts. However, nothing can be further from the truth. The biggest risk is the access of administrator accounts by unauthorized persons since it could lead to large-scale theft that could be impossible to recover from. Hence, the technology must be used by the administrators to prevent such occurrences.
The top casinos go beyond two-factor authentication when protecting their admins. They could use time filters, IP filters, and geographic filters to enhance security. These measures limit the locations, IP addresses, and times that users can access their accounts.
Also, online casinos should implement 2-factor authentication methods that accommodate most of their players. Since some devices may not support biometrics, it is good to have diverse options like email that are more universal. Players usually choose the options they would want to use to sign up and they offer flexibility.
Finally, the system may be in place but it is not mandatory for the end users to them. Hence, the perfect strategy is to set it up and come up with strategies for encouraging members to use it. Most casinos that installed it from the start make it mandatory for their players to use it upon signing up. However, the greatest challenge could arise from online casinos with pre-existing clients.
All gamblers love bonuses and promotions and this could be a perfect reason to offer them one. They could get free spins or bonus cash after activating it. This could be a one-time offer or a progressive to offer more value and foster loyalty. The two-factor authentication should not be used for signing up only. It could be extended to other critical steps such as:
- completing a withdrawal request;
- depositing cash;
- changing key account details.
The rapid growth of the online gambling industry has heightened the cyber threats that could arise to the users and the administrator accounts. Most hacking attacks can be effectively prevented by using two-factor authentication. Usernames and passwords have shown great vulnerability to phishing and other attacks. However, an extra layer of security makes them null and void. This tech is the gateway to secure betting!