Passwords as a Security Factor – MFA As Optimal Protection
The urge to play is innate in humans. And because our lives are all increasingly digital, it’s hardly surprising that games of chance and slot machines, such as those offered by online casinos, and also sports betting are becoming more and more popular. What appeals to players is that the fun and excitement of the game can actually pay off in cash. But to make the necessary financial transactions possible, online gambling involves extremely sensitive data, such as credit card details. This is precisely why there’s one issue that online gamblers – and also the regulators – don’t joke about: and that’s security.
Anyone who enjoys playing a game of bingo online or betting on their favourite team definitely appreciates a certain thrill. However, online gamblers do not want to take any risks with their personal and financial data. A look at websites that rate the quality of online casinos, for example, also shows that compliance with legal regulations, ease of understanding and security are very important.
The legislator also keeps a close eye on the regulations. Because, like in most other countries, gambling is subject to legal restrictions in Germany and Switzerland. The new State Treaty on Gambling, for example, came into force in Germany in the summer of 2021 and defines the conditions for this multi-billion euro market throughout Germany. Switzerland has already had similar laws in place since July 2019. Accordingly, operators must expect the regulatory authorities to regularly review the security and transparency of their offering. In addition to this, they also have the responsibility to deny access to persons who have blocked themselves from gambling offerings.
Authentication is key
Most gambling providers provide their customers with an account that works like a bank account because it involves the flow of money. During registration, the user’s identity is verified using identification documents. But even after that, players expect the funds in their gambling account to be perfectly protected from access by unauthorised persons.
So how can gambling providers ensure that the players’ offspring do not log in because they happen to know the access data? Or stop an account from being hacked because the password is easy to crack? And how can they meet the user’s desire for maximum convenience when logging in and managing their account?
The answer to these questions is provided by strong authentication that uses multiple factors – keyword: multi-factor authentication – that comply with FIDO standards and the biometric data that is already stored on the player's mobile device anyway. Logging in then becomes very easy for the user, and their dependence on insecure passwords is reduced.
Biometric and convenient
Most current mobile devices can technically support biometric authentication via fingerprint scan or face ID and can be used as part of modern login solutions for online gambling or betting. For players, this form of authentication via their own mobile device combines several advantages:
- They have complete control over their biometric data because it is only stored on their mobile device and never leaves it.
- It is extremely difficult to falsify biometric data. This makes identity theft virtually impossible.
- Biometric authentication makes a password superfluous. No one needs to remember long, complicated passwords and type them in laboriously.
- Login takes a matter of seconds.
In combination with strong cryptography based on the FIDO standard, biometric authentication procedures meet the highest security requirements. FIDO stands for Fast Identity Online. It is an open, licence-free industry standard for secure, fast and simple authentication for online applications. This gives online gaming operators the option of using hardware-based authentication technology such as fingerprint or facial recognition.
For the operators of online gaming or sports betting platforms, a solution like this offers a competitive advantage that should not be underestimated. After all, it allows them to meet both the safety and convenience demands of their customers – and satisfied customers have no reason to go looking for better offers.
