In recent years, FinTech has become an integral part of the iGaming industry, bringing significant changes to the way bets and games are played. “Financial technology plays a key role in today’s iGaming industry, transforming the way bets and games are made, improving the player experience and ensuring transparency and security of transactions,” BetB2B notes.
However, the growth of illegal FinTech solutions has introduced concerns involving unauthorized transactions and disregard for established regulatory frameworks. “Illegal online casinos, pirated betting companies and crypto-currency fraud – all these practices are carried out without the necessary licenses and permits, violating the law,” comments an expert from the BetB2B iGaming software provider, “Unfortunately, such activities pose not only a threat to the safety of players, but casts a shadow over others in the industry who ensure fair and legal play.”
Legal iGaming websites and gambling operators obtain the necessary licenses and permits, operate in accordance with anti-money laundering and financial security regulations, and cooperate with regulators to ensure transparency and fair play.
Transparency and security of transactions – BetB2B
One of the main advantages of legal FinTech in the iGaming business is the increased transparency and security of operations.
Employing cutting-edge technologies such as blockchain, the industry elevates transparency across transactions. This innovation empowers the tracking of fund flow, assuring the genuineness of gaming pursuits without room for manipulation. Furthermore, modern encryption techniques and authentication mechanisms help to protect users’ financial information, preventing unauthorized access to accounts.
Accessibility and convenience for users
FinTech services also play an important role in providing accessibility and user experience.
They offer a variety of innovative financial instruments such as e-wallets, prepaid cards and digital payment systems that greatly simplify the process of depositing and withdrawing funds for players.
“Through such tools, users can easily manage their finances, make real-time transactions from any device, providing convenience and flexibility,” BetB2B notes.
BetB2B platform: Anti-fraud and user protection
One of the most important tasks of FinTech innovations in the iGaming industry is to combat fraud and protect the interests of users. With the use of advanced technology and analytical tools, fintech companies can detect suspicious transactions, detect abnormal user behavior and prevent fraudulent activities. Such measures help to create a secure iGaming environment where users can be sure that their finances and personal data are safe.
Electronic payment systems became the first innovation in the field of FinTech, which began to be implemented by online casinos and betting companies. They allow players to quickly and conveniently deposit and withdraw funds to their gambling accounts, ensuring transparency and security of transactions. Electronic wallets and cryptocurrencies are also actively used in igaming websites, providing anonymity and convenience for players.
Blockchain technology, with its decentralization and data immutability capabilities, has also found its way into the iGaming industry. Using the blockchain, you can create a transparent system of contracts and payments, eliminating the possibility of manipulation and falsification of data. This increases the credibility of iGaming operators and contributes to the development of a fair and reliable iGaming environment.
“Legal FinTech significantly improves the player experience in the iGaming gambling industry. They get access to a wide range of electronic payments that provide instant transactions and minimal fees.”, note BetB2B.
The significant impact of FinTech innovations isn’t confined to players alone; it extends its influence upon iGaming operators and regulatory bodies. Operators reap the rewards of powerful financial management tools, automated processes, and data analytics, optimizing their operations and enhancing client service. Simultaneously, regulatory authorities use FinTech to strengthen oversight of the iGaming sphere, intensify anti-money laundering efforts, and nurture equitable iGaming platforms.
“Importantly, to ensure a fair and safe igaming environment, regulators must actively pursue and crack down on illegal FinTech practices, and players must be aware of the risks associated with using illegal companies. Only through strict enforcement of laws and proper regulation can FinTech in the iGaming industry reach its full potential and contribute to the development of a fair and responsible gambling experience”, says the representative of the BetB2B betting and casino platform.
BetB2B iGaming platform: Unique turnkey solutions for launching an online casino or betting website
BetB2B partners with over 100 leading online gambling and betting clients. These are large and successful companies that strive for continuous development and improvement of their business.
Bet-b2b offers a wide range of content to reach the maximum audience and increase profits. The content collection is regularly updated and expanded to meet all players’ needs.
Turnkey Solutions offered by BetB2B allows you to reduce risks when starting a project and reduce the cost of its support, maintenance and software updates, because it includes:
- Flexible portal administration systems.
- Use of content management systems (CMS).
- Implementation of client relationship management systems (CRM).
- Provide access to secure cloud storage.
- Connection to reliable financial channels for transactions.
Turnkey Solution is an ideal solution for companies that already have a legal infrastructure, as well as a license. The main advantages of the iGaming platform:
- Large portfolio of games from BetB2B.
- Access to casino games from over 100 providers.
- Ability to provide bingo services.
- A variety of options for accepting payments (more than 250 methods).
- Over 182 sports to bet on, plus a great selection of eSports events.
“Through innovative technologies and turnkey solutions, we help our clients achieve outstanding results in online gambling and bookmaking”, adds the BetB2B expert. “In addition, the company provides full support at all stages of launch and after the start of the project. This client-centric approach sets us apart from other IT product developers in the online gambling and betting industry.”