BetMGM is ensuring the protection of its players through a new strategic partnership.
The sports betting and online casino operator has secured a partnership with Prove Identify to leverage the digital security company’s innovative identity solution, Prove Pre-Fill. Prove Pre-Fill, which is used by more than 1,000 businesses, allows BetMGM to accelerate its onboarding process for new customers by up to 79%. The identity solution is awaiting regulatory approval for use with BetMGM offerings.
“We’re committed to providing customers with a seamless and secure sports betting experience, and our partnership with Prove is a testament to that safe bet,” said BetMGM CEO Adam Greenblatt. “Prove Pre-Fill adds an extra layer of security, reduces sign-up abandonment, and improves the overall user experience by streamlining the identity verification and authentication processes. Users can now enjoy the BetMGM sports betting and casino experience faster and with greater peace of mind.”
Prove Pre-Fill aims to provide a frictionless user experience for BetMGM players while also allowing the operator to drive revenue. The product will protect the gambling platform from bonus and promotion abuse, which includes the exploitation of bonus codes for new users.
Security top priority for BetMGM
BetMGM is partnering with Prove as instances of digital fraud increase across America.
The TransUnion 2024 State of Omnichannel Fraud Report, which was released last month, found that gaming had the highest rate of suspected digital fraud in the U.S. in 2023. Last year, the industry had a 10.9% suspected digital fraud rate, up 9% compared to 2022. Despite the uptick in U.S. rates, global digital fraud in 2023 fell 30% year-over-year.
TransUnion found promotion abuse to be the most common type of U.S. gaming fraud.
BetMGM is also enhancing securities measures following a major cyberattack in September 2023 of its co-owner MGM Resorts. The cyberattack impacted MGM’s websites, gaming floors, and digital systems. MGM, which co-owns BetMGM with Entain, reported a roughly $100 million loss due to the cyberattack.
MGM was also the victim of a security breach in 2019, which saw hackers obtain the personal data of more than 100 million users. The company didn’t report the cyberattack until 2020.
