The global revenues from online casino gambling last year were a staggering USD $86 billion. To put that figure into perspective, it is the equivalent of every single person on the planet – man, woman and child – placing a bet of $10.48.
Whilst no official statistics for global transactions exist, we can estimate from the total revenues and global population of online casino players that the industry processed around 1.1 billion transactions last year alone.
That means two things. Firstly that online gambling company’s process huge numbers of financial transactions on an hourly basis. Secondly, that online company’s represent a huge bounty to online scammers and hackers.
So how do online gambling companies maintain website performance, keep the criminals at bay and protect your money from start to finish?
Housekeeping
In this article we will be talking exclusively about reputable and reliable online casinos. Unfortunately there exists a huge market of unregulated and untrustworthy companies out there who treat their customer’s money with anything but care.
If you want to steer clear of these type of companies and would like to find the best and most trusted real money online casinos in Canada, head over to casino.ca where you can find in-depth reviews on the majority of providers.
Data Transfer – Protecting Your Details
When you buy, sell or make deposits online you are transferring data between yourself, your bank and the vendor. This is the riskiest part of any transaction as, if it is breached, hackers have direct access to your most sensitive of private date – your bank details.
To protect your data during this process, online casinos use a multi-layered approach that starts with robust encryption protocols. Advanced Secure Socket Layer (SSL) encryption, typically 256-bit or higher helps to ensure that your financial information is protected during transmission.
A key aspect involved in this process is the use and implementation of secure payment gateways that act as intermediaries between the player and the vendor. These gateways have undergone rigorous certification processes and are experts in securing data and fighting off fraudster and hackers.
Like everything though, there are companies who are good and not so good at the process. The choice of which one to employ comes down to the individual online casino itself, so be sure to check reviews beforehand, and avoid any with negative reviews citing data loss.
Withdrawals Security
No-one makes a deposit with an online casino and immediately writes off that figure. All of us, whether consciously or sub-consciously, make deposits in the hopes that we will be making later withdrawals of winnings.
Which is why it’s vitally important that you play with a trusted online casino. You don’t want to have a big win only to find out that the provider doesn’t have the funds to pay you out. Currently all licensed Canadian online casinos are required by law, to segregate player funds and keep them separate from operational funds.
This ensures that money is available to be paid out. Only once money has been categorically lost can it then be transferred to operational costs or profits.
Do beware that currently the pool of licensed and regulated online casinos in Canada is low. That will change in 2026 when new legislation emerges, but for now beware of playing with overseas providers who are not held to the same standards as their Canadian counterparts.
Money Laundering Detection
Fraud detection systems are in operation at every point when you make a transaction with a Canadian online collection. This is due to the fact that gambling has always been a target of money launders who seek to ‘clean’ the money they have accrued from criminal activity.
For law-abiding players, that is good news as it means robust systems are in place to protect money and also that transactions are regularly monitored and reviewed, thus increasing the chances of detecting weak points in the system that could let hackers and scammers in.
In Summary: The Benefits of Strong Security Systems
There is of course a lot more to the financial security systems employed by online casinos in Canada. However, to take a deep dive into every aspect would take a lot more than 800 words and might alienate an awful lot of readers.
It goes without saying though, that an industry that processes around a billion transactions or more a year has some of the best financial security systems on the planet. That’s not just to benefit the customer either, that’s to protect their money too, but most importantly, their reputations.
Online gambling is one of the most competitive industries on the planet. Messing up and losing customers sensitive personal data is a guaranteed way to carve out a bad reputation which ultimately, can lead to the death of a company.
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