TransUnion Enters The US Gambling Market

TransUnion, one of the nation’s three major consumer credit reporting agencies, announced Wednesday its plans to enter the US gambling market. According to a press release, its subsidiary, TransUnion Gaming Services LLC, will provide identity, fraud, and marketing solutions to various operators across the country.

The US gambling market is estimated to be $119 billion as of August 2020, and that number has probably grown as existing markets continue to grow and more states legalize gambling.  It is also a trend not likely to let up anytime soon.

Expanding from Across the Pond

This is not the company’s first entry into the gambling industry. In fact, the company has already been involved in gaming, in a similar role, for 12 years overseas, primarily operating in the United Kingdom. The effects of its efforts will be wide-reaching, too, servicing online operators and casinos alike. And per the press release, online sports betting and daily fantasy sports contests are pieces of the larger puzzle.

“TransUnion will bring its long international history in the gaming markets to the US, where we will leverage our expertise to provide great experiences to both players and businesses,” said Steve Chaouki, TransUnion President of US Markets.

In the UK, it works to help operators protect players while promoting responsible gaming. The company has serviced some 84 million transactions for top brands in the gaming spheres of responsible gaming, fraud, and identity verification.

Chaouki also emphasized the importance of complying with regulations and doing so without compromising consumer privacy and data security. Much the same, TransUnion Gaming Services will utilize data and insights to ensure a safe gaming environment for both players and operators. The company is currently applying for licenses in multiple states to work with operators of US gambling sites and provide them better services at a better price.

Providing Solutions at All Levels

TransUnion Gaming Services aims to create a frictionless experience across all stages of involvement for players and operators alike. Whether signing up or verifying identity, TransUnion will provide solutions that are both seamless and effective.

Other important aspects for operators include preventing industry fraud through bonus abuse and players creating multiple accounts. Beyond that, protecting player accounts and creating an easy login process also prioritize players’ gameday experiences.

Lastly, TransUnion Gaming Services will offer digital marketing solutions for operators. A large amount of gambling is done online, and operators can utilize TransUnion’s services to understand how to best connect with their customers through artificial intelligence (AI) and data-driven insights.

Using Flagship Technology to Make it Happen

TransUnion will provide its solutions through its flagship program, TruValidate™. This program is effective in verifying consumer identities and in risk-based authentication of secure transactions. It also offers advanced fraud analytics through actions such as proactively identifying risky transactions and users in real-time, which can reduce operational costs and prevent fraud from occurring in the first place.

As the company notes, this technology is integral in TransUnion’s approach towards establishing trust between businesses and consumers, which is even more critical in today’s digital age than ever before. Such relationships enable parties to engage in transactions with confidence. Each knowing that they are doing business with a reputable person or company on the other end just the same.

Plans for Growth

TransUnion’s Diversified Markets EVP and President of TransUnion Gaming Services Glen Goldstein mentioned its aggressive goals for growth. “We have plans to rapidly grow our business in the US, leveraging years of global expertise in the industry and new solutions that will make us a key contributor in this market,” she said.

“Ultimately, our entrance into the US market will afford more trustworthy relationships between operators and their players,” Goldstein added. TransUnion has already established that trust in markets abroad and enters the US gaming market already having some name recognition in the States. The opportunity is certainly there.

More information on TransUnion Gaming Services can be found on the website, including player acquisition, acquisition, authentication, fraud prevention, and responsible gaming.