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Looking For E-Commerce Cybersecurity? Look No Further Than Betting Sites
When it comes to operating in the e-commerce realm, security isn’t merely important, it’s vital. Your company is going to be undertaking financial transactions of all sizes and amounts, so you are going to want to ensure your customers that their personal information and financial data is safe in your hands.
If your company doesn’t have the proper security software to protect this sensitive data, it’s only going to take one breach of that security to put you out of business. Once that door has been left ajar and trust of the customer is allowed to escape, winning back that trust is next to impossible for any company to achieve.
So what type of security set up will you need to assure that your company is on the cutting edge and ensure that your clientele have nothing to worry about? Well, believe it or not, a good place to look at for security tips are online betting sites.
Betting is big business. As recently as 2021, some $76.75 billion was wagered in the USA. That amount is anticipated to grow to as much as $167.66 billion by the year 2029. Thus a high level of security is of paramount significance to online betting sites like Bovada. Not only are they protecting the personal information of their customer, these online gambling apps must also assure that the massive amounts of money they are transacting is also safe and secure.
Betting Sites On Cutting Edge of E-Commerce Technology
When it comes to e-commerce technology, online betting sites have traditionally been trendsetters in all areas of the industry. In fact, these betting platforms were among the first to board the e-commerce bandwagon in the infancy of the internet explosion during the mid-1990s.
Other elements that were introduced early into the online gambling realm include live streams and mobile apps. Both are staples of online life today.
Throughout the lifetime of online betting, security has always been Job 1. Think about it for a moment. Of all the infamous online hacks you’ve heard about over the years, can you even think of one instance when a betting site was attacked? No, you can’t. And that’s because they never shirk on security.
How do they achieve this high level of cybersecurity? Let’s look at some of the software that online betting sites currently have operating on their platforms, as well as what the future may be bringing in terms of e-commerce security.
Boundary Firewalls And Internet Gateways
The most common of cybersecurity systems, these are like online fences surrounding the site. They are the first line of defense, establishing a network perimeter that is blocking access to any malicious domains seeking entry. They also prevent any devices using their system from communicating directly with any sites that are known to be malicious.
A boundary firewall is the type of network device that is capable of restricting inbound and outbound network traffic on both computers and mobile devices. Internet gateways are devices that permit your laptop, desktop computer, or mobile device to connect to the internet.
128-Bit SSL Encryption
Computer hackers will find 128-bit SSL encryption virtually impossible to crack (Image by Franz Bachinger from Pixabay).
On today’s cybersecurity landscape 128-bit secure socket layers (SSL) encryption is considered to be the strongest form of encryption available today to the e-commerce industry. Along with betting sites, it is also employed within the banking industry, to protect virtually all forms of e-commerce transactions and to permit devices to communicate with each other online.
In terms of securing your info, 128-bit encryption is a form of encryption algorithm that makes use of a 128-bit key to encrypt and decrypt data. Even elite-level hackers making use of the most powerful computers and the highest level of sophisticated software will find 128-bit SSL encryption difficult to get past. Industry estimates are that it would take between billions and trillions of years to be able to crack this code with today’s level of computer technology.
Two-Factor Authentication
Virtually every company in the betting industry is providing access to two-factor authentication for login purposes. However, most leave it up to the customer whether they want to institute this level of security in order to access their accounts. With this type of security, you’ll be sent a unique login code via the text or email associated with your account when you are signing into a betting site. You won’t be able to open your account until this code is correctly inserted. And you are given a time limit on how long you have to insert this code.
While on the surface a seemingly simplistic form of cybersecurity, two-factor authentication is actually quite effective as a deterrent. The security of your login attempts increase dramatically by following this technique. It will provide protection against password brute-force attacks, phishing and social engineering. As well, it is very effective at shutting any type of bot-related attacks on your account.
Estimates are that eight of every 10 computer attacks involve the stealing of someone’s login credentials. By introducing two-factor authentication, even if a hacker were to gain access to both your username and password, they still wouldn’t be able to get the necessary code to complete the two-factor process.
Biometric Login
Among the most recent developments in terms of online security, betting sites are beginning to adopt biometric login technology. It’s considered to be the highest level of security available today in the world of e-commerce.
Biometric login technology is capable of operating on four levels. You can opt to institute fingerprint scanning, go for facial recognition, adopt voice recognition, or require there to be a retina scan. Beating this level of security is virtually impossible, since it is a process of matching stored biology in the system. Since your voice, eyes, face and fingerprints are all unique to you, they can’t be replicated. Betting sites see value in the biometric login technology as an aid in preventing both underage gambling and to bring a halt to the potential for identity theft of their customers.
