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May 2023
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The world of competitive, organized video gaming is referred to as esports. People all over the world can now tune in live and cheer on their favorite players and teams, thanks to advances in technology. Amateur gamers with cutting-edge streaming equipment and social media savvy can monetize their digital hand-eye coordination skills and achieve international glory, fame, and fortune.
We learned about esports gaming fraud from Raghib Khan, a tech and gaming expert with over ten years of experience. Continue reading to find out how to deal with esports gaming scams. Scamming is nothing new in the world of esports, and it isn't limited to in-game currency and cosmetics. Scam artists have devised various methods to defraud victims who fall for their schemes over the years. In the past, we've seen scammers use live streaming platforms like twitch to steal money from unsuspecting viewers by hijacking their accounts. Challenges of esports gaming fraud There are many parallels between the fraud prevention challenges of esport gaming:
You must use adaptable KYC triggers to avoid churn while maintaining a high level of security. These are based on digital footprint analysis (more on that below) and allow you to leverage both light and heavy KYC based on the initial data you receive.
While esport gaming is still considered a developing market, it is undeniably growing faster than anyone could have predicted during the Covid crisis. Worst of all, these types of scams are active. While we don't know how many people fall for these scams, the scammers continuing to pay the platform to run their advertisements should speak volumes.
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