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Institutional investors will play an important role in securing the future of cryptocurrencies like Bitcoin (BTC), according to Erik Voorhees, CEO and founder of ShapeShift.io.

In a panel discussion at this year’s LaBitConf, Voorhees said Bitcoin’s adoption curve will grow substantially over the next five to ten years. In that time, Voorhees estimated that half the world could have exposure to BTC. He believes that mass adoption will occur much later, however, once Bitcoin becomes the global monetary standard.

Please note that this website will be undergoing technical maintenance between 28 and 31 August. Consequently, users may experience instabilities and limited functionality. Technavio has been monitoring the casinos and gambling market and it is poised to grow by $ 82.09 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. Seconded National Expert (gambling policy) - DG GROW European Commission Apr 2010 - Apr 2016 6 years 1 month. Brussels Head, Competitiveness Unit (industry. “Gambling has been normalised to such an extent that young people grow up thinking this is a harmless activity,” she said. “Those who are targeted today will be the problem gamblers of tomorrow.

The panel was virtually unanimous in the view that Bitcoin is better served with entities of different persuasions buying and holding BTC. In this vein, institutional adoption is a net positive for the ecosystem because it ensures that the rules of the game never change and that governments don’t try to interfere.

Voorhees said governments have a greater incentive to censor Bitcoin if it’s used primarily by retail investors. With large institutions in play, there may be a natural “bulwark” against government overreach.

Regarding Bitcoin, Voorhees noted his belief that “The greater the mix and diversityof holders, the better,” before continuing “Democratization of control over money is the essence of Bitcoin.”

Although Voorhees says we are still in the very early stages of institutional adoption, 2020 has been a watershed year for the digital asset in terms of orthodox acceptance. Major investors like

Paul Tudor Jones and Stanley Druckenmiller have confirmed their stake in Bitcoin, while Paypal and Cash App are buying up most newly mined BTC.

Meanwhile, digital asset manager Grayscale continues to amass Bitcoin and Ethereum (ETH) amid record inflows into its funds.

Bitcoin is experiencing a supply shortage that’s occurring almost in lockstep with the latest deflationary halving event. With supplies capped at around 900 BTC per day, institutional adoption appears to be having a positive impact on price discovery.

In Voorhees’ view, the real surge in institutional interest will occur near the peak of the next bull market when not owning Bitcoin will inflict reputational damage.

Higher prices are no issue for major institutions, many of which are waiting for Bitcoin to “catch up to their liquidity,” according to Voorhees.

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The 2019 Gambling Industry Report from iovation provides an alternative perspective on the state of the online gambling industry.

The report is based on an analysis of over 518 million transactions from more than 100 gambling operators and platforms. All are customers of iovation’s financial transaction security services.

“Following the money” offers insights that other gambling studies don’t have the granularity to see.

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Diving into iovation study results

The report identifies three key themes for it findings:

• Mobile transactions skyrocket
• Game abuse and cheating increase but level out
• Credit card fraud continues steady climb

Iovation makes the case that using its services can:

• Provide a superior player experience as a market differentiator
• Assist operators to manage regulatory risk
• Integrate customer authentication with next-generation fraud prevention, to protect against both existing and emerging threats

Jon Karl, iovation EVP of Corporate Development and co-founder:

“… there are still some constants we can rely on. While fraudsters may have adapted their tactics over the years, at the heart of every online fraud attempt — whether through the web, an application or via a mobile browser — is a customer device.”

Mobile now 70 percent of online gambling transactions

The last five years are marked by the continuing expansion of mobile gambling. Not only are players using their mobile devices to gamble, they are using them to pay for their online gambling.

Back in 2012, the growth rate for mobile financial transactions compared to 2011 was just 6 percent. In 2018 the growth rate had soared to 95 percent.

Iovation found that 70 percent of all online gambling transactions are now made using mobile devices.

Growth rate for game abuse, cheating falls steeply

Game abuse and cheated are perennial problems for gambling operators.

The most prevalent problem is bonus abuse. In the past three years, iovation records bonus abuse rising by 287 percent. Operators are responding to the threat by enhancing their Know Your Customer (KYC) processes with predictive analytics.

This new technology not only helps operators monitor and forecast potential fraud. It also provides “better targeting for upsell opportunities and premium promotions.”

The report also notes that cheating continues to grow. In 2018, the growth rate was 12 percent. That’s still a high number, but much less than the 55 percent recorded in 2017.

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Where iovation sees fraud potential

A particular risk that iovation identifies is organized fraud rings:

“Lone bad actors and serial cheaters aren’t going away, but a new class of organized fraud rings that are working collaboratively across the globe poses a major threat.”

Iovation concludes:

“iGaming businesses must evolve their response to such threats. Innovative technologies such as device intelligence, device-based authentication and data analytics have proven essential in helping operators to distinguish threats from the mass of legitimate players.

In an environment where players expect payouts immediately, risk signals will have to be interpreted even faster with intelligence from disparate data sources integrated into dynamic decisioning rules.”

Iovation measures regulatory risk by growth of fines

Going outside its transaction data to provide context, iovation calculated that in the UK, regulatory fines against gambling operators rose from £1.6 million ($2.1 million) to £18 million ($23.6 million) between April 2017 and 2018.

A further round of fines in November 2018 totaled £14 million ($18.4 million).

One of the regulatory risks that can easily lead to fines is self-exclusion. The report found some disturbing statistics.

“During 2018, we saw nearly a million attempts by devices associated with self exclusion to access one or more of the digital properties in our network of iGaming clients — more than four times the 223,000 self-exclusion reports placed that year.”

If anything, US state regulators are even more sensitive to this issue than in the rest of the world.

2019 Gambling Industry Report free download

The report covers interesting areas such as GDPRcompliance in Europe, and player privacy as well as a number of other areas of interest to operators and regulators.

A free copy of the report is available on the iovation website.