Soft2Bet is a software provider for sports betting platforms and online casinos, which aims at making the iGaming industry reputable and responsible. Having surpassed more than 450,000 live events and over 7,000 games, the company was taking a hold of a significant chunk of the iGaming market at a fast pace.
Challenges Before SEON
Before teaming up with SEON, Soft2Bet struggled with a number of issues:
- We employ a lengthy manual review process
- Widespread bonus abuse
- Operational inefficiencies
- Incidents of stolen IDs
- High rates of chargebacks
Improvements with SEON
Following a seamless integration with SEON, Soft2Bet noted the following benefits:
- Increased efficiency and automation
- Dashboards for real-time insights into customer behavior
- Holistic protection across the full customer journey
The Challenge
The ChallengeHowever, as https://seon.io/resources/case-study/soft2bet/ began expanding rapidly in every direction, its review teams, particularly those in risk and fraud departments, were overwhelmed by the sheer number of ingoing players and transactions. As our Chief Compliance Officer puts it:
“We’re an iGaming success story, and with that our player and transaction volumes continue to grow. But this hypergrowth put a lot of pressure on our review teams especially the risk and fraud department.”
With a fast-growing company, issues had multiplied — bonus abuse (where fraudsters exploited bonus offers by creating hundreds of accounts), identity fraud (leading to fake signups and unjust incentives), and fraudulently deposited accounts funded by stolen credit cards — leading to high chargeback rates. Not only did these issues drain resources, but they also risked driving a wedge with payment processors and putting a spotlight on the platform for regulatory scrutiny. Having security always a priority—soft2bet has earned its ISO-27001 on transparency—partnering with a certified provider like SEON, with a proven set of effective anti-fraud tools and a commitment throughout its range of solutions to transparency and security, was an obvious next step.
The Solution
SEON was also quickly seamlessly integrated into Soft2Bet’s existing anti-risk workflows. Using SEON’s flexible fraud risk scoring, Soft2Bet has now automated its risk management processes, which means it can instantly block clear fraudsters, yet let real customers begin playing in moments. Business-specific rules, developed through Soft2Bet’s unique business intelligence, were then implemented at key points—registration, login, and deposit—to mitigate a range of risk vectors:
- At Registration: SEON looked at digital footprints to flag potential fake accounts.
- At Login: Device intelligence was used to identify unauthorized access attempts
- At the Deposit Stage: Payment methods came under the microscope as immediately flagged were fraudulent transactions made with stolen cards.
Such a layered approach meaningfully reduced fraud exposure while maintaining a seamless customer journey.
Results:
- The results from SEON’s integration are evident:
- A 40% decrease in manual queries allowing resources to focus on more complicated inquiries.
- Faster execution by 20% in terms of manual review times.
- Reduction in bonus abuse, fraudulent signups, and chargeback due to better fraud detection at registration, login and deposit stages.
- An organic user experience for authentic players with no-hassle registration and deposit processes, all while rigorous security protocols protect the integrity of the platform.
As the Chief Compliance Officer Described it:
“SEON transformed the way we work to combat fraud. The automation saves us a huge amount of time and effort, and it allows us to funnel this into improving our processes, policies and procedures – helping us toward our mission to enhance the reputation and responsibility of iGaming across the world.”
The agreement has enabled Soft2Bet to streamline its risk management journey and has also raised the bar as an example of how to protect the customer journey while achieving operational excellence.
