Andrii emphasizes the importance of predictive analytics, smart technologies, and regular updates to remain adaptable and flexible in the ever-changing iGaming environment.

Risk management and anti-fraud measures are crucial for any sports betting and casino business. It's what transforms running an iGaming company from a gamble into a strategic business move. But every company and market is unique, making the right risk management plan both challenging and intriguing. Today, Andrii shares his insights on how the Atlaslive Platform excels with tailored tools to tackle these challenges head-on.

As the head of risk management at Atlaslive, you understand the importance of maintaining security while saving money for iGaming businesses. What does risk management involve at the Atlaslive Platform? How does it work to protect your partners’ businesses?

You are right, that's a key part of my job. In our tech-driven company, risk management means using advanced data analytics and machine learning to monitor betting patterns and detect potential fraud before events and in real-time. We ensure compliance with regulatory standards through regular audits and staff training. Additionally, we work closely with our partners to create customized risk management strategies that safeguard their businesses and boost financial performance.

We believe the best way to tackle sophisticated iGaming fraud is to protect every stage of the user lifecycle, from sign-ups to withdrawals. This involves using KYC (Know Your Customer), behavioral analysis, and database checks. At Atlaslive, we integrate all these checks, analyzing customers through over 200 different triggers to provide comprehensive protection.

Our system is tailored to meet our partners' needs, offering advanced fraud protection while ensuring a smooth player experience. To avoid mistakenly flagging legitimate bettors, the system analyzes betting history to identify repetitive suspicious behavior or gaming styles.

Andrii, based on your experience and general statistics, what are the most common risks or fraudulent patterns the Atlaslive system identifies? In what way can operators control these cases and detect suspicious customers? Is the RMT applicable to both casino and sportsbook customers?

There are numerous fraud schemes in online casinos and betting platforms, making it hard to list them all. To help companies avoid fraud and stay compliant, it's crucial to apply user identity verification at the onboarding stage and regularly monitor betting patterns and transactions.

In 2023, Statista reported that fraud losses for mobile casinos and betting platforms reached $1.2 billion. With stricter regulations leading to hefty fines and potential license revocations, it's clear that skimping on security measures can cause severe financial and reputational damage.

We often identify common risks and fraudulent practices such as account takeovers, arbitrage betting, and money laundering. Our real-time analytics tools help operators monitor these situations by tracking unusual betting behaviors and flagging anything suspicious. Our Risk Management Tool is highly flexible and effective for both sportsbook and casino customers, ensuring they are fully protected regardless of the gaming platform they use.

What happens if your system detects a customer engaging in potentially fraudulent activities during live or pre-match betting? Can operators set automatic restrictions, or does it need to be handled manually?

If our system spots someone possibly cheating while in-play betting or before the game starts, it can automatically limit their bets or temporarily pause their account. Alerts are also sent to our risk team, who manually review the situation and take further action if needed. This two-step process ensures quick action and thorough investigation.

What measures does the Atlaslive platform use to predict and prevent potential security breaches or frauds before they occur? How do these actions help make your platform safer?

As I mentioned earlier, we use smart technology like predictive analytics and machine learning to stop security issues before they even start. Our system monitors everything in real time and is regularly updated with the latest security protocols and industry best practices. Additionally, we allow operators to set limits for players showing suspicious behavior, such as those with strong betting patterns or who are on our blacklist. They can also set maximum win amounts and customize various features to address specific scenarios.

How does the Atlaslive Platform help protect casino players and sports bettors from making irresponsible or risky decisions?

Any product should focus not only on business needs but also on the players. Our players are diverse, each seeking a unique experience in sports betting and casino games. Sometimes, people make impulsive decisions and take risks. That's why we’ve thought about all possible scenarios for our players.

The Atlaslive Platform includes a Responsible Gaming section. We offer several options to help players manage their gaming habits. Users can set limits for specific periods, such as a sportsbook spend limit, a common spend limit, or separate casino spend limits. We also have a reality check feature, where players receive notifications at intervals from 1 minute to 2 hours. Additionally, there is an option for self-exclusion for 1 day, 7 days, 30 days, or even permanently. If a player chooses permanent self-exclusion, the operator will not allow them to return.

These features help players stay in control and ensure they have a safe and responsible gaming experience.

What are Atlaslive's plans for improving the Risk Management Tool even more? Are there any exciting developments or new features in progress that you can share with us?

We plan to enhance our risk management tool by integrating more advanced AI and machine learning capabilities to improve prediction accuracy and detection speed. We're also working on developing more sophisticated real-time monitoring features and customizable risk management dashboards for our partners.

This is essential because fraud doesn't just lead to financial losses for operators — it can seriously damage their reputation too. Players want to know they’re on a fair and secure platform, trust it, and believe their personal and financial details are safe. This makes effective iGaming fraud prevention crucial. Operators need to stay alert to the ever-changing nature of these threats. Our team at Atlaslive is dedicated to staying ahead and continually improving our tools to offer our partners and their players the highest level of security and trust.