Nowadays it might seem that when we talk about the importance of security in B2B sports betting, or simply sports betting, we do not equate these terms with “protection”.
But, on the contrary, attacks are increasingly common and frequent and companies need it.
That is why security in B2B sports betting is so important for companies, which becomes even more relevant today, supported by new technologies.
What is security in B2B sports betting?
Especially with regard to online betting, the sports betting service provider (operator) has to trust and know that the security of its website is guaranteed through IT against DDoS attacks.
DDoS attacks are maliciously used to force web servers offline by flooding them with data traffic. (*DDoS, or distributed denial of service, “is a type of cyber attack that attempts to make a website or network resource unavailable by flooding it with malicious traffic and rendering it unable to operate” (Wikipedia)).
The commitment of companies with their own security and that of the user is real and every year they look for new ways to avoid cyber attacks and fraud.
By focusing on player protection and a better understanding of the steps technology providers and operators can take to promote responsible gaming, online gaming providers help build greater confidence in regulation and identify the risk factors involved, the biggest threat to player safety.
Using responsible business practices that are essential to preserving operators’ licenses in the long term, as well as increasing customer confidence, thus contributing to long-term B2B success.
Security risks in B2B sports betting businesses
On the other hand, the same B2B sports betting companies must protect themselves from cyber attacks on their websites, the so-called “pirates”, which are increasingly frequent.
Online sports betting operators are beefing up their IT security in response to the threat of hackers trying to crash their web operations.
How to protect your business from B2B sports betting security risks
But how to protect your business against server attacks?
On these days considered “hot”, the site needs to remain online, stable and functioning, for example on days of championships, tournaments, large betting volumes, activating actions to prevent attacks by hackers and pirates.
Risk management is mandatory for every business, including B2B sports betting and online casinos. In these cases, there are three types of risks that businesses face:
Operational: These are the easiest to avoid.
Some examples include technical issues such as software crashes, loading errors during gameplay, and connection drops during deposits or withdrawals.
A session interrupted mid-turn causes frustration for both the player and the support staff the player contacts.
Strategic: Making decisions about the future of the business inevitably involves some strategic risk.
These arise from forming new partnerships, developing and launching new products, investing in other companies and expanding into new markets.
For example, entering an emerging market with the expectation that it will grow fast enough to recoup expansion costs within a year is a strategic risk.
Entering a new society is also a risk.
If the partnership doesn’t work out, you may have missed out on other opportunities. There is also the decision to buy a license or not (Slotegrator definitely recommends that you do this).
Management: Companies manage strategic risks by accepting a certain level of risk and creating contingency plans should these events happen.
External: External risks are not only beyond our control, but are often beyond our ability to predict. In iGaming, they are often linked to changing perspectives from industry authorities. Regulations can change seemingly overnight if public opinion changes one way or another.
B2B sports betting security best practices
So, to protect your company from hacker attacks, it is advisable to try to prevent external attacks and invest in management: to mitigate the effects of external risks, one measure that can be taken is to take care of the company’s financial health and maintain sufficient liquidity.
So that it is flexible in the face of unforeseen circumstances.
Using good technology, hiring good technicians and specialized people like the big ones like Sportradar, Bet365, Betsson and other giants.
