How online gambling's expansion raises the stakes for fraud detection
FIS, American Express' subsidiary Accertify and Paysafe provide payment-card fraud protection in the booming U.S. online sports betting sector. The industry has seen significant improvements in blocking fraud within the sector in recent years. Fraud-prevention providers face the challenge of managing compliance with strict regulations of the more than 30 states that have legalized online wagering. Georgia lawmakers estimate it could generate $100 million in state funding through taxes next year. Tennessee Education Lottery says it has generated nearly $74 million since it legalized it in late 2020.
