How important is data to gaming ecosystem & threat it posses

Data is increasingly prevalent and essential in today’s digital. Yet the threats of data breaches, identify theft can cause consumers to lose trust. Creating better data governance involves improving methods of seeking consumer consent.

Dear punters, do you trust this platform? What about the bookie platform you’ve open in the next tab-that holds your credit card information. Does that predict your choice of betting or your travel habits better than you do or the social media platform to which you’ve turned over who-knows-how-much personal data? If you ask an increasing number of people, the answer is probably, “Not so much.” Data breaches. Cause identity theft. Fake news. Censorship and spying.

Its will result in loss of trust which we will start witnessing eroding in the growing digital economy. Even when bookmakers, payment solution entities that collect our data play by the rules we’ve agreed to when accessing their platforms, what exactly have we decided to, anyway? Where is our information going, and how is it being used?

Data is an authoritative source of innovation and prosperity, but the systems designed to regulate it are not working nearly as well as they should. Though as we enter the second decade of 21st century, one of the most vital questions for the gaming space and beyond is: How well do they protect our data, and restore trust in the digital economy. The gaming space is a clerical example of how our data, used for great customers experience. When never you go online whether it’s on bookie platform or any of the e-commerce platform your data has stored, imagine going back to that platform it has all your records it predicts your next habits in real-time. How? I decide to fund my online betting account, and I find out my banking details as been stored on the betting platform though it reduces the stress of going through that process of typing your bank details all over again and it brings that flexibility and comfort.

Another example imagines going to bookie platform to lay some complaint, and it is solved in real-time not knowing you are sending messages to chatbots. But the question is can’t your details be compromised, of course, it can. Back in 2019, a betting company name withheld in Africa the platform, breached which E-play Africa reported that over 32GB of the betting company data, spread across six databases had exposed online. The information affected by the alleged incident includes user profiles, emails, staff emails and data linked to the company website, among others. The alleged breach came to light after an anonymous source found the data online and tipped off Australian security researcher and haveibeepwned founder Troy Hunt. According to him within the database there’s everything from use records to betting history, the latter also consuming more than 100m rows as well as password.

The bookie publicly denied, that any data breach had taken place, but the fact remains other online sports betting company may have been affected by the alleged security breached. Data is so crucial to modern life that it’s become commonplace to call it “the new oil”. Unlike oil, however, information isn’t finite. It can be copied and shared, and exploiting it doesn’t use it up. Exchanging and combining data-not ‘consuming” it-is how we create value. But the question is when trust in the laws and technology that govern data breaks down, barriers to sharing go up, and that means less importance, for people business and society at large. Like the traditional economy, the digital economy consists of digital platforms relationships-between firms and individuals, businesses and governments, governments and citizens and the governments of different countries. Each relationship is a vector of trust, with its unique characteristics and requirements to keep them functioning and healthy.

Article by Adeleye Awakan to know more about the African gambling industry, Consultant, please feel free to contact me on any of this channels: E-mail: [email protected] on Linkedin: AdeleyeAwakan, Twitter: @AdeleyeAwakan, Instagram: adeleyeawakan

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