The Importance of Cyber Security in the Casino Industry

Sharing is caring!

Over the years, major data breaches have affected all kinds of different industries. From the food and hospitality industries to the entertainment and gaming sectors and the financial services sector, we've seen hackers get ahold of people's personal data, including (in some cases) their payment information.

According to one study about data security concerns, 81% of respondents (including 3,000 people who were surveyed in the United States, United Kingdom, and Germany) believe that they have a fundamental right to privacy. 64% of respondents also believe that government policies should work to protect this data.

But how is the casino industry responding to this? And should players have such a huge cause for concern when it comes to data privacy?

Why Casino Security is So Important

The global gambling industry is worth approximately $500 billion a year and this includes both land-based casinos as well as online gambling and casinos. This means that every second, minute, hour, and day, millions of dollars are being exchanged both in terms of money being spent by players as they gamble and the payouts from online casinos. Likewise, huge amounts of data are being processed as players exchange their banking and other financial details, as well as information like their names and addresses so that the casinos that they are playing with are able to properly verify their identities.

Crucial to all of this is security. When a casino is breached, it shakes the confidence of the players. How can they spend money with a casino that does not properly take action to keep their data secure? How can they be sure that transactions are going to go through successfully (in terms of payouts and deposits being made) if the casino is built on shaky security foundations? And not only does this tarnish the reputation and harm the revenue of that lone, breached casino but it can have a negative knock-on effect on the entire casino and gambling industry.

What Are Casinos Doing in Regards to Security

Hackers are sophisticated, according to cybersecurity analysts who have been documenting industry trends. Not only are hacking tools often available cheaply online, but advanced methods including social phishing (which uses social engineering) are also making organizations more vulnerable to data breaches. However, the casino and gambling industry isn't just resting on its laurels and many have taken the required measures (if not more) to properly secure player data.

One example of this is in the SSL encryption measures an online casino for real money like Betfair uses. Encryption ensures that data being exchanged between the casino and the player's device cannot be intercepted. Many casinos also remind players not to use public internet connections in order to play as these are also especially vulnerable with regards to hackers. All good casinos should be properly licensed too. The gambling authorities in regions such as Malta, Gibraltar, and the United Kingdom (three leading gambling bodies in the west) all make security a requirement. If a casino is not taking the appropriate measures to keep player data safe, then it will be denied a license. A casino won't get very far if it's unable to operate legally.

But, even so, much more still needs to be done in order to restore player faith in the industry. Reports about data breaches in other industries are piling up and eroding people's confidence in data security. Additional measures may need to be pulled out by the casino industry to address this but, for now, it seems as though most casinos are doing what they can (and what they should be) in order to keep data safe and sound.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.