How do sports betting firms prepare their verification systems to manage surges in traffic during significant events like the Olympics and UEFA Euro?
Betting companies face a unique challenge during major sports events like the Olympics or UEFA Euro: an influx of users that can strain verification systems and increase the risk of fraud. To navigate these high-traffic periods effectively, betting companies can employ several strategies to maintain compliance, verify customer identities efficiently, and ensure platform stability.
One such solution is Sumsub's automated verification system, capable of analyzing over 14,000 types of documents and adapting to more than 40 languages. This advanced technology enables operators to process high volumes of transactions and customer verifications efficiently, identifying suspicious activities and reducing manual bottlenecks.
Another strategy is implementing risk-based verification approaches. By applying enhanced due diligence selectively for high-risk accounts or transactions, operators can optimize resource allocation. This approach balances compliance with operational efficiency by avoiding unnecessary delays for low-risk users while maintaining strict scrutiny where needed.
Scalable technology infrastructure is crucial for accommodating sudden increases in user traffic without system failures. Using sportsbook platforms and verification systems designed for high performance under pressure helps ensure smooth operations during peak demand periods. Providers like Altenar emphasize platforms built for high-end performance and fast handling of live odds and markets.
Integration with identity verification tools, such as government ID validation, biometric checks, and adverse media screening, also improves accuracy and speeds up customer verification processes.
Continuous customer due diligence (CDD) and monitoring are essential for operators to adapt dynamically to changing risk profiles, especially during high-traffic events when fraudulent activity may spike.
Preparing operational capacity in advance is another key strategy. Proactively anticipating traffic peaks during anticipated major events and scaling system resources accordingly — including cloud scaling or additional workforce for manual review if needed — ensures smooth verification flows.
However, it's important to note that while these strategies help combat fraud and maintain compliance, loosening up verification too much can lead to a spike in fraud and harm to the company's reputation.
Criminals often take advantage of high user traffic during major sporting events to commit fraud. To this end, Sumsub's Fast-Fail feature helps companies easily detect fraud, including bonus abuse, multi-accounting, affiliate fraud, money laundering, and illegitimate chargebacks.
Major sporting events attract approximately 200% more user traffic to betting companies. With the right strategies in place, companies can handle this increased demand while maintaining compliance and protecting their reputation.
For more information about Sumsub's solution, a demo is available. Osvaldo Sosa, the Pre-Sales Technical Manager for Sumsub, is ready to guide you through the process.
Data-and-cloud-computing solutions can assist betting companies in managing high user traffic during major sports events, such as the Olympics or UEFA Euro, by providing scalable technology infrastructure for smooth operations. For instance, Sumsub's automated verification system is designed to process high volumes of transactions and verifications efficiently.
In addition, sports-betting operators can enhance security measures by integrating identity verification tools, like government ID validation, biometric checks, and adverse media screening, to improve accuracy and speed up customer verification processes.
