Jun 27, 2024
< 1 min read

Ask Sumsubers: How can betting companies ensure their verification systems are ready to handle major traffic spikes during the Olympics, UEFA Euro, etc.?

Sumsub keeps getting questions from our followers about the specifics of regulatory compliance, verification, automated solutions, and everything in between. We’ve therefore decided to launch a bi-weekly Q&A series, where our legal, tech, and other experts answer your most frequently asked questions. Check out The Sumsuber and our social media every other Thursday for new answers, and don’t forget to ask about the things that interest you.

This week, our Pre-Sales Technical Manager, Osvaldo Sosa, will talk about ways to handle an increasing amount of traffic during major sports events.

Follow this bi-weekly series and submit your own questions to our Instagram and LinkedIn.

How can betting companies ensure their verification systems are ready to handle major traffic spikes during the Olympics, UEFA Euro, etc.?

Major sporting events attract billions of viewers from all over the world, many of whom tend to place bets on their favorite teams and athletes. However, criminals see this as a great opportunity to steal money—and during big events, it’s easier for them to blend in with the crowd.

The issue many betting companies face in times like these is a spike in the user traffic. For example, during the last UEFA Euro, which took place in 2021, the user traffic spike was approximately 200%. This is when these companies can be tempted to cut some corners— since, if verification takes too long, users will go to their competitors. However, loosening up verification too much can lead to a spike in fraud, and ultimately harm to the company’s reputation. So, the only effective way to handle high traffic while minimizing fraud is through an automated verification solution that has a proven record track of onboarding bettors fast during sport events.

Sumsub’s solution allows betting companies to quickly onboard new users, while tackling any volume of bettors during sporting events. We can analyze over 14,000 types of documents, adapting to more than 40 languages, along with a unique Fast-Fail feature. With Sumsub, companies will be able to easily detect fraud, including bonus abuse, multi-accounting, affiliate fraud, money laundering, and illegitimate chargebacks.

To learn more about our solution, check out our demo.