Common Online Casino Fraud

Anyone who gambles online knows that it involves a significant amount of risk. While playing casino games of chance and letting luck determine your outcome, there is always a chance that you will lose, as the rules are supposed to be fair. Fraudsters then break this delicate balance by putting themselves in positions where they may steal, hack, and cheat to get an advantage over the casino and other players. Online casino fraud may happen in multiple ways, such as multiple accounts, bonus abuse, affiliate fraud, etc.

This casino news highlights some of the most common online casino frauds.

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Online Casino Fraud Attempt Common Behaviors

Multi-Accounting for Online Casino Fraud

Multi-accounting serves as the foundation for numerous online casino fraud attempts. Fraudsters use fake credentials to create dozens or even hundreds of accounts to tip the scales in their favor. This is to take advantage of bonuses, generate fictitious earnings, and con other players. Once the fraudster has access to multiple accounts, they may use several popular techniques to break the gaming law.

Gnoming

This is an illegal gambling technique where fraudsters create numerous accounts on a single online casino to defraud it. It is often to circumvent maximum bet restrictions in the least detrimental way possible.

Bonus Abuse, a Common Online Casino Fraud

Here, fraudsters exploit bonuses by setting up multiple accounts to receive extra coupons, signup incentives, and other lucrative promotions to help many bogus accounts attain them. Even though these incentives work well to draw in new users, giving them away in excess could cause a platform to lose money.

Chip Dumping

This is a common method of online casino fraud used in online casino table games. Fraudsters use numerous illegal gambling accounts at the same table to manipulate the game in favor of one of the accounts and gain chips from other players at the table. In this scam, a group of players sign up for a typical online casino game, like poker, and use their physical connection to influence the outcome in their favor. Fraudsters deceive legit players, who remain unaware of the fraudulent activity affecting their gains.

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Credit Card | Online Casino Fraud

Credit card fraud is an illegal gambling practice of using stolen card information to top up an account and cash out legitimate winnings. This is called “card, not present” (CPN) fraud. Here, a criminal obtains a victim’s credit card information to use in transactions that don’t require a physical card, like those made over the phone or online.

CNP fraud may result in harm in several different ways. First, the victim may not be able to recover their money if someone took their card information. The online casino bears the loss for fraudulent transactions if the cardholder successfully files a chargeback. 

Chargebacks

Chargeback abuse, sometimes known as “friendly fraud,” is an online casino fraud that occurs when a legitimate account holder contacts their bank or card company and disputes making a payment to an online gambling site. Customers who have lost a lot of money gaming may start a chargeback transaction. They can contact their bank or credit card company and report that their card has been lost or improperly used.

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Conclusion

Gambling always carries some risk, but when con artists stack the deck, players, and casinos take on risks they don’t intend to. Although there are more frauds in gambling vs betting, where these frauds are difficult to carry out, online casinos must be cautious. When allowing new members, online casinos should scrutinize them to prevent fraudsters who readily break gaming laws at their expense. Apps should also be on the lookout for warning signs. Players may protect themselves and their accounts by checking their credit card activity for shady transactions. If you have been looking for a safe and secure online casino, visit Slots Paradise Casino for a safe and fun gambling experience.

Stay informed and make informed choices – start learning about illegal gambling today!

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