With the new year comes the start of a new season for many of your favorite sports. Also new this year was the launching of many online Sportsbooks in a few states. Coincidentally, with the state of Massachusetts set to launch online sports betting next month, BetMGM Massachusetts will have all the best sign-up bonuses for those looking to try their luck when Ireland’s own Conor McGregor steps back into the octagon for the UFC later this year.
As such, it’s now much easier to bet on your favorite players and teams. However, for those experienced bettors who may be used to placing their physical bets at a casino or retail sports betting site, there may be a legitimate concern for the security of their personal data. The challenge now is to assure potential users that they can trust that their information is secure.
Setting up an online account usually requires some transferring of information, at least enough to advance past its age restrictions. Alternatively, if an individual who wished to wager a sizable amount of cash were to do so at a casino, such information would not necessarily be compulsory. Also, many geo-tracking devices will prevent bettors from placing wagers outside their place of residence or registration.
Prior to the legalization of sports betting, in many states, it has been stipulated that sensitive information should be encrypted by all applications that store personal data. This in turn helped to institute a foundation for mobile regulations relating to sports betting.
One of the legislations stated by many of the sports betting apps is that a user’s account must only be funded through an electronic, bank-to-bank transfer only if the operator has appropriate internal controls to guard against payment frauds or breaches. Payments like these (ACH transfers) have to be processed through the Automated Clearing House.
In addition, even stricter measures have been put in place to shelter customers. As many casinos and sportsbook sites accept credit card transactions and save deposits for patrons, they are also expected to meet Payment Card Industry (PCI) compliance standards. This is an incentive so companies are encouraged to create a secure environment for credit card transactions.
Online gaming businesses, as well as sportsbook operators, must comply with the Bank Secrecy Act and the other requirements outlined by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Under federal law, all casinos must file a Currency Transaction Report on single or multiple transactions (minimum of $10,000) by any individual on a single day.
Usually, when a customer places a bet, the supplier may only receive a reference number to identify that particular transaction and basic information such as the user’s location. The remaining personal information is gathered by the sportsbook in order to build its customer database. A few sportsbooks also provide security to guard against user liabilities. For example, MGM guarantees its customers cannot lose more than $50 if they fall victim to any unauthorized monetary transfers or upon proof of identity fraud. The claims must be made within two days of the occurrence.
All licensed sports apps are required by law to utilize the most updated encryption techniques. Most use Secure Socket Layer (SSL) to encrypt server-to-server communication. Sports apps are not exempt from this legislation, and as such, they may use SSL encryption and sometimes even offer password security in an attempt to further secure your information.
However, although most sportsbooks around the globe use SSL encryption certificates to prevent breaches in transaction data, mobile sportsbook applications may not always offer this same feature. Hence, users need to remain aware of the APIs (Application Programming Interfaces) on their mobile platforms, as any app utilizing this feature can restrict the possibility of a breach during information transfers. Any application lacking this authorization may be susceptible to a data breach.
Any sports app can be the target of a cyberattack, and as a result, these security issues can affect not only the established sports industry but the online sports industry as well. Users must also be vigilant in remaining aware of security measures and the steps to be taken if a data breach is suspected. The process of creating an account, performing a cash transaction, placing a bet, and cashing out should be as seamless and simple as possible. Anything otherwise may lead to possible scams or hacks.
One of the top priorities of online sportsbook apps is to ensure that their users’ information is kept private because the reputation of the business depends on it. Users can remain confident that their information remains secure as long as the sport application has taken the necessary steps to guard against breaches in data.