Cybersecurity And Online Bitcoin Casinos: Don’t Be a Victim

The ever-increasing move towards online Bitcoin casino gambling means that the global industry is growing massively each year. Great Britain alone generates a Gross Gambling Yield of £14.2 billion between 2019 and March 2020. This constant growth in global online gambling brings about a rise in cybersecurity issues for online players and casinos as large sums of money and the storage of personal information make them an attractive target for cybercriminals. When gambling online, knowing the potential cybersecurity risks, understanding how to identify them, and how to avoid them is imperative to protect yourself and your money.

Current Cybersecurity Threats Facing Online Bitcoin Casinos and Their Players

Where there are large sums of money, there is usually crime. This unfortunate reality means that there are multiple threats that online casinos face when it comes to securing their networks and protecting their players. Cyber hackers have unfortunately been able to jeopardize the safety of casinos and players alike through the use of Distributed Denial of Service (DDoS) attacks, ransomware attacks, using casinos to launder money, stealing private player information, and compromising the integrity of online games. These terms are not familiar to everyone, and so it is important to explain what they are;

DDoS Attacks:

When multiple online connected devices (Botnets) are used to overwhelm casino servers with fake traffic rendering the site inoperable for players. This makes it almost impossible for players to access the site or their accounts and restricts legitimate use.

Ransomware:

Cyber attackers will use this type of attack to demand a ransom from online BTC casinos. They use malware that threatens to publish private data or completely block access to data held by online casinos through encryption.

Money laundering:

Some criminals will use online casinos to launder dirty money. While the players are not always directly affected, the ramifications for the online casino can be devastating.

Stealing players’ personal and financial data:

Cyber attackers have been able to access and steal private and financial information from players in online casino databases. Cybercriminals can use this information to steal players’ identities and access their credit card and banking information.

Compromising Game Integrity:

Cybercriminals have been known to hack certain games on online casinos and can manipulate the outcome of such games causing the gameplay to be unfair and incurring major monetary losses for either the Bitcoin casino or the players. 

While the above threats are just some of how hackers can cause destruction, they are some of the main factors to consider when creating new accounts and depositing your hard-earned cash. But it’s not all gloom and doom.

How Casinos Protect Against Cybercriminals And Keep You Safe

It’s scary to think that when you spend money playing online casinos, there are multiple cybersecurity risks. However, despite this fact, the online gambling industry has been incredibly successful in curbing these risks through a multitude of rules, regulations, and advanced encryption software technologies. Because online casinos are in the business of making money, it is vital for them to protect themselves and their customers against cyber criminals. Here are just a few of the many important ways in which online casinos ensure cybersecurity for themselves and their players;

Encryption software technology:

Encrypted software like SSL is an industry-standard when it comes to online casinos. It is used to protect the casinos and players from hackers by safeguarding private information and restricting the modification of data.

Gambling Commissions:

All online casinos are regulated and have to be licensed through a gambling commission of their jurisdiction, for instance, through the UKGC or MGA. These organizations ensure that online casinos are legit and adhere to strict rules that protect their players. These organizations constantly audit licensed online casinos to ensure that their security software and measures are always up to date. Failure to meet the commissions’ requirements and regulations results in harsh penalties and the loss of casino licenses.

Customer Checks:

While the stringent identity verification processes used by online casinos can cause headaches, they are vital in keeping you and your account safe, so try to be patient. Online casinos will verify who you are when setting up an account on their site by asking for things like your ID or Passport document, utility bills, and bank statements. They encourage you to use a strong password for login and not to share your login or account details with anyone. When contacting an online casino, they might require you to answer certain security questions about your account to verify that it is you. Online casinos also abide by strict rules (set out by gambling commissions) of KYC (Know Your Customer), which allows them to identify risky or suspicious players. All of these checks are in place to maximize the security of their players’ accounts and reduce fraud.

Gambling With Bitcoin and Other Cryptocurrencies

Many online Bitcoin casinos these days offer their players the opportunity to use cryptocurrency. Gambling with Bitcoin and other cryptos can be hugely beneficial for the players due to its quick transaction times and safety and security. Blockchain technology allows players to transact and share private data without the worry of being hacked. There is almost zero possibility of private information, transactions, and games being manipulated, making the gambling environment safe and secure. When choosing to gamble online with Bitcoin and other cryptos, be sure to be as careful as possible with your private information, such as log-in details, and ensure that you use recommended and legit online casino sites like Crypto.Game, Roobet, RocketPot, and Thunderpick.  

Don’t be a victim – Do your part!

While online casinos and gambling commissions are doing their best to keep you and your money safe, it is also your responsibility to do your bit, and here’s how;

Do your due diligence:

Research online casinos and read reviews. Only play on secure and licensed casino sites. To see if a site is secure, check the padlock icon in the URL bar. If the padlock icon does not appear on the homepage, it might only appear on the login page of a site. You can check if a casino is licensed by checking their footer, where you will see credentials.

Read the Terms and Conditions:

This will familiarize you with the casino’s rules and regulations and is a great way to determine how secure their sites are.

Create Strong Passwords:

When creating an account log in, ensure that you use letters, numbers, symbols, and a mix of upper and lower cases. Do not share this password with anyone, as this might compromise your security and mean that others will have access to your account.

Follow the Rules:

Casinos will have strict rules and regulations that they have to follow to keep you safe, and so abiding by those rules will help them to help you.

Report Issues:

If you feel that someone has used your account, you cannot log in, or you notice unusual activity in a game you are familiar with, then report it to the casino immediately. The earlier they can pick up any errors, the earlier they can fix them and check for cybercriminal activity.

Explore using Bitcoin and other Crypto-friendly online casinos

With heightened levels of security and anonymity for players, it is definitely worth checking out some of the Bitcoin casinos available. 

Cybersecurity is very important in online gambling as it is the pillar upon which its success rests. Being vigilant, abiding by rules, and using the tips above when playing online will ensure that your private information and money does not fall into unwanted hands. Don’t be a victim

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