The American Gaming Association (AGA) has recently released the latest revenue tracking data for July, covering online sports betting and iGaming. Combined, they expanded 20.8%, reaching $1.78 billion in revenue.
And according to AGA, 'Of the 38 commercial gaming jurisdictions that were operational a year ago, 34 reported an increase in combined revenue from traditional casino games, sports betting, and iGaming.'
Despite legislation to permit online casinos across the US being pushed back to 2026, there's no denying that those allowed to operate are booming through a balance of compliance and technology. Read on to find out more.
Age and identity verification compliance wouldn't be possible without technology, unless we expect gamers to send their details by post and wait 7-10 business days for it to be authorized. Depending on the technology, age and identity verification is almost instant.
In the US, the Unlawful Internet Gambling Enforcement Act (UIGEA) requires online casinos to have strong age and location verification before a player can access their games. The most common identification method is so simple. Players will have to take a picture of their government-issued ID and a selfie, which a third-party operator will use to confirm the age and identity. All privacy and data are protected, with personal information often instantly deleted by the third-party verification service.
As it currently stands, the legal online gambling age is 21, but there are some exceptions where 18 and over can play, such as lottery or charitable games.
All of the top-rated online websites for casino players in the US should use anti-money laundering and financial crime technology. The issue was that some online casinos would let players create multiple accounts if they had different email addresses and passwords, leaving criminals with the opportunity to transfer money between accounts for money laundering.
Enforced by the Financial Crimes Enforcement Network (FinCEN), online casinos in the US must follow the Bank Secrecy Act (BSA), the main act governing anti-money laundering within the industry. Again, this is something technology has enabled online platforms to do far more efficiently than humans. Identity verification is one prevention method, but AI-powered transaction and account monitoring to detect suspicious transactions is doing far more for the industry.
Online casinos must also fill out the standard Suspicious Activity Reports and Currency Transaction Reports.
Only seven states in the US allow legal iGaming. Those states are:
Other states are passing bills for the legalization of online casino gaming, but the process is slow.
And, like many people around the world, Americans want to play. But, of course, if their network or IP address shows they're in a state that bans iGaming, they won't be able to get onto a website. To get around that, some people tried to use VPNs to change their geolocation. It works, for a time.
Now, websites are using sophisticated anti-VPN technology to prevent players from illegally accessing the websites. The technology is also being used to block proxy servers or remote desktop software that might mask locations.
There are thousands of online casino games across hundreds of gaming platforms. Gaming verification and auditing prevent games that don't meet the required gaming standards and regulations from reaching players.
Independent operators such as eCOGRA use sophisticated technology to test and certify games for fairness, randomness, and payout probabilities before letting them launch onto iGaming platforms.
More than that, iGaming developers must use technology like cryptographic proof, including hash chains and RNG seed logs, to show their compliance and integrity within the industry.
It's a process that gives players access to fair gaming platforms.
Responsible gaming technology is at the heart of any trustworthy iGaming platform.
One of the leading examples is self-exclusion programs. They allow players to voluntarily block themselves from any iGaming platform for a specific period of time. If a gamer opts for it, they can permanently block the platform.
Similar to that are deposit and loss limits. This integrated technology means players can put a limit on how much money they're allowed to deposit through the website on either a daily, weekly, or monthly basis. The idea is to always keep players gambling within their means.
In our opinion, some of the latest and best technology is analyzing players' gaming habits using behavioral analytics software (AI is leading this) to promote responsible gambling. These advanced algorithms constantly analyze betting patterns that can detect addiction.
So, if players are suddenly depositing frequent, large sums of money or chasing losses, the software can detect the activity and block the player's account. It also analyzes how long players are actively playing on the app and can, again, block player accounts or activate safe gambling suggestions.
Technology is the reason online casinos in the US can balance compliance. It's creating a safe online space for gamers to actually enjoy their experience without the issues that once plagued iGaming platforms. They're more reliable, secure, and compliant with the regulations that are keeping gamers safe.
#iGaming #OnlineCasino #GamingCompliance #RegTech #FinTech #ResponsibleGaming #IdentityVerification #AntiMoneyLaundering #GeolocationTech #GamingInnovation
Welcome to Gambling Consulting Authority (GCA) - Your Strategic Partner in Gambling Industry Advancement
