VIP players make up 20% of total active players, yet account for 70% of gross gaming revenue.
Ensuring a seamless experience for these valuable players is key, yet difficult to execute—especially since the behavior of VIP players often mimic common fraud signals, such as high velocity interactions. As a result, VIPs often face multiple verification prompts, slow payouts, or get blocked entirely. Sift not only addresses fraud, but also provides unparalleled player insights and automation flexibility that helps brands redefine the VIP experience. Created in partnership with iGaming leaders, let’s delve into the key innovations being used to ensure VIP players remain the biggest fans.
How to identify VIP experiences and enable faster payouts
Identifying potential fraud involves recognizing indicators that are indicative of fraud, such as card testing, copy-and-paste login attempts, identical card BINs, text reuse, and withdrawing an entire account’s balance. These signals are crucial in differentiating between legitimate players and potential fraudsters in the iGaming industry.
Sift’s Trust and Safety Architect, Brittany Allen, advises iGaming leaders on how to differentiate between legit and risky players during a recent webinar with iGaming Business (iGB).
“To identify the fraudsters, you must be able to identify the traits of all your legitimate and trustworthy users. If you know what those patterns look like, you can track aberrations from those patterns to stay ahead of new fraud trends.”
Two key capabilities to help identify VIP players include:
- Multi-tiered cohort models: Machine learning (ML) models based specifically on iGaming operators to track unique player behaviors. This is coupled with Sift’s global model that detects fraudulent users across multiple segments and an operator’s custom model. The unique 3-pronged approach to ML-based risk scores helps differentiate the unique nuances between a fraudulent user from a VIP.
- Unique identifiers: Every iGaming platform is different. Sift provides highly customizable criteria that can account for the unique characteristics of a VIP player. This can range from a specific list, or as nuanced as velocity amount, payment types, etc.
Create dynamic player experiences on-the-fly
In the fast-paced world of iGaming, automation is key to keeping up with the velocity of activity. Yet, traditional rules-based engines are restricted to broad requirements. There are three key capabilities needed to effectively drive VIP experiences, including:
- Fine-tune friction by controlling how many passes VIPs get before sending to 3D-Secure (3DS).
- Trigger accelerated payouts based on VIP indicators.
- Prioritize and accelerate reviews by sending the VIP to manual review immediately and assess network connections.
The key to these capabilities is being able to make adjustments on the fly by front-line fraud teams, enabling player insights to be incorporated quickly.
A winning strategy applied in the real-world: How Underdog Fantasy prevents fraud and protect users by partnering with Sift
Underdog Fantasy, the fast-growing sports gaming platform, has partnered with Sift to protect its players against fraud and streamline transactions. With Sift, Underdog prevents the use of stolen payment methods on its platform, which reduces fraudulent chargebacks and false positives—creating a frictionless experience for legitimate players.
“Protecting our players through innovation is part of our DNA, and we’re thrilled to partner with Sift in this important mission,” said Dustin Cooper, Chief Financial Officer and Chief Operating Officer at Underdog Fantasy. “Sift’s industry expertise and innovative use of machine learning allow us to instantly identify and block emerging fraud threats without creating hurdles for our players. This partnership will help us further ensure our players can trust that Underdog will give them a fun, fair, and secure environment to increase their enjoyment of sports.”
Advanced ML-based innovations coupled with unparalleled player insights are becoming the cheat code for leading iGaming and sports gaming businesses seeking to turn fraud prevention into a competitive advantage. Globally, Sift secures more than $45 billion in iGaming annually, representing 468 million transactions. In doing so, Sift has become the preferred fraud prevention solution for daily fantasy and online gaming.
Join the league of renowned brands leveraging Sift to supercharge growth through advanced ML-based fraud prevention, player insight, and best practices. Discover more about Sift’s capabilities and gain a competitive edge in the iGaming market.
Learn more about how iGaming fights fraud with Sift.