Insights into cutting-edge risk management: Atlaslive on innovating igaming safety
In this interview with Focus Gaming News, Andrii Rybalchenko, head of Risk Management at Atlaslive speaks about how the company’s special tool helps to handle different risk situations and how they work to recognize them.
Exclusive interview.- Andrii Rybalchenko, head of Risk Management at Atlaslive, granted Focus Gaming News an exclusive interview in which he shares how their special tool helps to handle different risk situations and why Atlaslive’s Platform was recognized worldwide as one of the leading Sportsbook Platforms, as well as the Best Sports Betting Provider and a Rising Star in Sports Betting Technology within the CEE, Nordic, and Baltic markets in 2024.
Andrii highlights the importance of predictive analytics, smart technologies, and regular updates to stay adaptive and flexible in the dynamic igaming environment.
Risk management and anti-fraud are pivotal for any sports betting and casino business. It’s what turns running an igaming company into a smart business move instead of just a gamble. But here’s the thing: every company and market is unique, so figuring out the right risk management plan is a big and interesting challenge. Andrii will share his insights on how the Atlaslive Platform steps up with tailored tools to tackle this challenge directly and successfully.
As the head of risk management at Atlaslive, you understand how important it is to keep things safe while also saving money for igaming businesses. Could you please explain what risk management implies at the Atlaslive Platform? How does it work to protect your partners’ businesses?
That’s my main responsibility. In our tech-oriented company, risk management involves using advanced data analytics and machine learning to monitor betting patterns and detect potential fraud both before events and in real time. We ensure compliance with regulatory standards through regular audits and staff training. Also, we work closely with our partners to create customized risk management strategies that protect their businesses and improve financial performance.
We understand that the best way to tackle advanced igaming fraud is to protect every stage of the user lifecycle, from sign-ups to withdrawals. This means using KYC (Know Your Customer), behavioural analysis, database checks, and more. At Atlaslive, we combine all these checks, analyzing customers through over 200 different triggers to ensure comprehensive protection.
Our checking system is customized to meet our partners’ needs, providing advanced fraud protection while ensuring a smooth player experience. To stay safe and avoid mistakenly flagging a legitimate bettor, the system analyzes the betting history to identify any repetitive suspicious behaviour or game style.
“We understand that the best way to tackle advanced igaming fraud is to protect every stage of the user lifecycle, from sign-ups to withdrawals.”
Andrii Rybalchenko, head of Risk Management at Atlaslive.
Based on your solid experience and general statistics, what are the most widespread risks or fraudulent patterns the Atlaslive system identifies? How can operators monitor these cases and detect suspicious customers? Also, is the Risk Management Tool applicable to both sportsbook and casino customers?
There are so many popular fraud schemes in online casinos and betting platforms that it’s challenging to list them all. To help companies avoid fraud and stay compliant, it’s important to apply user identity verification at the onboarding stage and monitor betting patterns and transactions regularly.
Statista reported that fraud losses for mobile casinos and betting platforms hit USD 1.2 bn in 2023. With tougher regulations leading to huge fines and even license revocations, it’s clear that businesses skimping on security measures are setting themselves up for serious financial and reputational damage.
We often spot common risks and shady practices like account takeovers, arbitrage betting, money laundering, and other cases. Our real-time analytics tools help operators keep an eye on these situations by tracking unusual betting behaviours and flagging anything suspicious. Our Risk Management Tool is super flexible and works great for sportsbook and casino customers, ensuring they’re fully protected no matter what gaming platform they’re using.
In live and pre-match betting, what happens if your system catches a customer engaging in potentially fraudulent activities? Can operators automatically set the system to impose specific restrictions, or does it require manual intervention?
If our system detects someone possibly cheating while betting live or before the game starts, it can automatically set limits on their bets or pause their account for some time. It also sends alerts to our risk team, who double-check things manually and take more steps if needed. This two-step process makes sure we act fast and dig deep into any issues.
What kind of measures does the Atlaslive platform employ to predict and prevent potential security breaches or frauds before they occur? How do these actions help make your platform safer?
As I’ve said before we use smart tech like predictive analytics and ML to stop security issues before they even start. Our system controls everything in real time and it is regularly updated with the latest security protocols and industry best practices. Moreover, we give operators the ability to set limits for players showing suspicious behaviour, such as those with strong betting opinions or who are on our blacklist. They can also set maximum win amounts and personalize various features to address specific scenarios.
When we talk about risks, it’s not just about the operators but also the players and bettors. Andrii, can you share how Atlaslive Platform helps protect casino players and sports bettors from making irresponsible or risky decisions?
Any product should focus not only on the business needs but also, importantly, on the players. These players are diverse, each seeking a unique experience in sports betting and casino games. Naturally, people sometimes make impulsive decisions and take risks. That’s why we’ve thought about all possible scenarios for our players.
The Atlaslive Platform includes a Responsible Gaming section. We offer several options to help manage their gaming habits. Users can set limits for specific periods, such as a sportsbook spend limit, a common spend limit, or separate casino spend limits. We also have a reality check feature, where players receive notifications that can be set for various intervals, from 1 minute to 2 hours. Additionally, there is an option for self-exclusion for 1 day, 7 days, 30 days, or even forever. If a player chooses self-exclusion forever, the operator will not allow them to return.
These features help players stay in control and ensure they enjoy a safe and responsible gaming experience.
What are Atlaslive’s plans for improving the Risk Management Tool even more? Are there any exciting developments or new features in progress that you can share with us?
We plan to improve our risk management tool by integrating more advanced AI and ML capabilities to enhance prediction accuracy and detection speed. We’re also working on developing more sophisticated real-time monitoring features and customizable risk management dashboards for our partners.
This is essential because fraud doesn’t just lead to financial losses for operators — it can seriously damage their reputation too. Players want to know that they’re on a fair and secure platform, trust it, and believe that their personal and financial details are safe. This makes effective igaming fraud prevention crucial. Operators need to stay alert to the ever-changing nature of these threats. Our team at Atlaslive is driven to remain in the lead and improve our tools to offer our partners and their players the highest level of security and trust.
“We plan to improve our risk management tool by integrating more advanced AI and ML capabilities to enhance prediction accuracy and detection speed.”
Andrii Rybalchenko, head of Risk Management at Atlaslive.
