How Oshi Casino is stopping fraudsters while maintaining anonymity

Oshi Casino is a bitcoin casino that has been running for just over two years. Nick founded the casino after a successful career managing SEO for Betfair and starting his own digital marketing agency, 90 Digital.

In gambling, bonus exploitation is a real and current danger.  Bonuses attract new clientele to a gambling website or platform. CasinoManual.co.uk explains, “bonuses are a great way to get you to deposit at the particular casino and you can play your favourite casino games using more than just your bankroll.”  Since the online gambling industry is incredibly competitive, bonuses are an important conversion tool but they can also be easily exploited.

Bonuses can be exploited by opportunistic fraudsters creating multiple accounts rapidly to capitalise on the free money essentially. Nick tells the example of a Russian affiliate casino who was giving away free spins on a roulette wheel as a form of a bonus. 20,000 free spins later, and they realised this was a death sentence for their margins. Margins in online gambling are already small so any exploitation takes a big toll on the casino.

Strong customer authentication can be a method for preventing bonus and account abuse, but there are varying levels of regulated Know Your Customer (KYC) jurisdiction depending on the region or country the casino is operating in. Since Oshi operate as a bitcoin casino, they don’t have to KYC their customer, which means they use algorithms and have a fraud detection team to look for account creation abuse and other fraudulent behaviours. Oshi does this so that they can maintain anonymity for their customers and offer bonuses, without getting taken for a ride.

Nick concludes by saying that the only way to protect yourself against fraud is to make sure there are little to no loopholes available for fraudsters to go through. They are relentless at looking for ways to exploit any weaknesses they can find.

To learn more about online payment fraud visit our insights page.