Super Bowl 59: A Record-Breaking Event for Sports Betting (and Fraud Risks) The excitement of Super Bowl 59 may have wrapped up a few weeks ago, but its impact on the sports betting industry is still being felt. This year’s game was a record-breaker, with 1.5 billion wagered legally in the U.S. alone, according to the American Gaming Association But with great opportunity comes great risk. Fraudsters are taking advantage of the surge in online betting activity, using fake accounts, stolen identities, and chargeback scams to exploit businesses. Here’s why this matters: 68% of sports bettors now place their wagers online, making digital platforms a prime target for fraud. A recent report by Source found that 1 in 5 sports betting companies have experienced a significant increase in first-party fraud over the past year. So, how can businesses protect themselves? By implementing robust identity verification solutions companies can: ? Verify user identities in real time. ? Detect and prevent fraudulent activity before it happens. ? Ensure compliance with regulatory requirements. The Super Bowl may be over, but the game against fraud isn’t. #SportsBetting #FraudPrevention #DigitalIdentity #KYXStartAI #Fintech #Compliance
