Playtech introduces new anti-fraud measures

Playtech Plc, which develops online gaming solutions, enhances its fraud prevention capabilities using real-time software ID.

Playtech confirms that it has switched to installing iovation FraudForce software through its POP open platform, the company's leading system that provides gaming software management services.

FraudForce - software to prevent fraud in the field of digital technology. It focuses on patterns and device recognition to detect fraudulent activities and identify hidden links between devices and suspicious accounts, as well as identifying illegal manipulations.

Using optimized data dynamics in real time, FraudForce has created a data recognition center capable of matching more than 5 billion devices.

In the future, Playtech’s partners will be able to use the technological power of the international iovation network completely. It employs 4,000 analysts who can track up to 30 million transactions per day and stop about 300,000 fraud attempts daily.

Decreased profits as a result of increased tax rates

Playtech expects the adjusted EBITDA for 2019 to drop by about €20 million ($22.7 million) - to €25 million - after the introduction of a new tax on gambling.

As we reported earlier, on Sunday, December 23, the Senate of Italy approved the budget for 2019, which provides for the introduction of new legislation to increase the tax on various types of gambling activities. This law should come into force on January 1, 2019.

Among the main changes in the taxation of gambling in the country is the increase in tax on online casinos from 20 to 25%. The government said it would bring to the state treasury an extra €50 million in revenue per year.

Meanwhile, land operators are also waiting for a tax increase - up to 20%. The only exception is horse racing. New tax rates, according to experts, will cost operators € 30 million per year.

Italian licensed operators have already faced an absolute ban on advertising and sponsorship, which also come into force on January 1, 2019, although existing partnership agreements with sports leagues may last until June 30.

Suggested Reading - Wynn Resorts goes to court again