Online Gambling is a popular pastime that can be enjoyed on many platforms. Many of these platforms offer mobile-friendly versions of popular games, making it convenient for users to gamble from the comfort of their home or on-the-go. However, it is important to note that online gambling can be addictive and should be played responsibly. The risk of online fraud is high, and players should always play with a budget in mind.
A large percentage of iGaming transactions are processed using credit cards. The coding system used by these cards makes it difficult to differentiate between legitimate and fraudulent transactions. This has been a problem for some online casinos, especially those operating in states where casino gaming is not legal. For instance, in Indiana and Washington, anyone caught gambling online can be convicted of a felony.
Despite the risks, online gambling is becoming increasingly popular. It is also a lucrative industry, with the iGaming sector expected to reach a value of $92.9 billion by 2023. As a result, it is no wonder that so many people are turning to iGaming as their preferred form of entertainment.
Nevertheless, this industry is prone to fraud and money laundering. The fact that it is a high-risk industry means that operators have to run thorough KYC checks on all of their potential clients. This can be a costly process. In addition, there is an increased risk of chargebacks in online gambling, which can lead to huge fines for the operator.