Bettors [are] more likely to fall victim to fraud — strengthening fraud prevention and account takeover measures are crucial to ensuring accounts are protected. A survey by TransUnion found that compared to non-bettors, US mobile sportsbook users were more than twice as likely to fall victim to a fraud scheme, and those who deposited $500 or more monthly were three times likely to become a target for fraud.
The survey, part of TransUnion’s 24-page Consumer Pulse: Online Sports Betting Study Q3 2023, also found that bettors were more likely to share their personal information.
Despite being targeted equally, sports bettors were twice as likely to fall victim to a fraud scheme compared to non-bettors. TransUnion, which provides fraud prevention products and services to the online gambling industry, attributed the higher risk to “bettors’ heightened proclivity to exchange their personal data for various benefits.”
According to the survey, 17% of sports bettors said that in the last three months, they have been targeted and fallen victim to a fraud scheme, which the survey defined as having originated online or through email, a phone call, or a text message. For so-called high-value bettors, those who deposit more than $500 monthly, the rate was 22%. Only 7% of non-bettors reported falling victim to such schemes.
Victims of Attempted Online Fraud in Last Three Months
High-Value Bettors ($500+ deposit/mo)
“Bettors [are] more likely to fall victim to fraud — strengthening fraud prevention and account takeover measures are crucial to ensuring accounts are protected,” TransUnion advised operators.
77% of bettors surveyed said they were concerned about sharing their personal information, but they were also more willing to share if offered incentives to do so. Declan Raines, head of TransUnion’s US gaming business, concurred. “Bettors’ risk of fraud has implications for operators as well,” he said. “Leveraging fraud solutions can help operators prevent account takeover and enhance account security for their players without applying unnecessary friction.”
77% of sports bettors surveyed said they were concerned about sharing their personal information, but they were also more willing to share if offered incentives to do so. High-value bettors were found to be even more willing to share their personal data.
TransUnion found that 55% of bettors would share their financial information if offered better promotions. By comparison, 60% of high-value bettors would do the same.
Bettors were also 38% more likely to offer their financial information in exchange for a smooth user experience and higher limits. Among high-value bettors, 43% said they would be willing to share more of their data for a smooth user experience, and 46% would do the same for higher limits.
Only 9% of bettors and 3% of high-value bettors said such incentives would not sway them.
“Bettors [are] more willing to share information,” TransUnion said. “Operators can leverage this willingness to reinforce their enhanced due diligence processes to better protect players showing signs of distress and protect accounts.”
On high-value bettors, TransUnion opined that “if operators can validate financially resilient consumers, a bespoke workflow for this segment may drive increased loyalty — considering their willingness to share financial information for better experiences.”
TransUnion conducted the survey through a partnership with a third-party service research provider, Dynata. The survey was conducted online and interviewed 3,000 US adults aged 18 and older between April 25 and May 9, 2023.