Understanding Online Gambling Fraud & How to Protect Yourself from Gambling Scams Online
The online gambling industry, now valued at approximately $100 billion with over 200 million players worldwide, has seen a significant rise in fraudulent activities. Common scams include phishing, bonus abuse, rigged games, identity theft, collusion, chargeback fraud, and money laundering. In 2024, online gaming fraud surged by 64%, resulting in $1.2 billion in losses. Notable incidents include the MGM Resorts data breach in September 2023, exposing personal details of 142 million guests, and the Clubillion app data exposure in March 2020, leaving sensitive user data unprotected. To safeguard against such fraud, it’s crucial to verify the legitimacy of gambling sites, use secure payment methods, set personal spending limits, and secure accounts with strong, unique passwords and multi-factor authentication.
