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Sports betting platforms cannot afford any downtime as this may dramatically impact business. To ensure that, Nuxgame offers tools for around-the-clock risk control for uninterrupted gambling services. Based on the risk-threshold limits the system accepts a betting ticket, denies it, or sets a threshold limit value.

Full Risk Control in the Interests of the Customer

Risk management entails identifying, analyzing, and responding to vulnerabilities to future-proof a business. For any business, whether online or traditional, to stand the test of time, proactive measures must be in place to control future outcomes. A good risk management structure sets successful businesses apart from mediocrities or failed ones. Such a system weighs the risks and manages their impacts. The effect of similar risks may be different from one organization to another. Gauging the tolerance level of a business is an essential part of creating an effective risk management system. With proactive risk management, decisions are made based on whether a risk can be avoided, mitigated or accepted if contingencies are developed.

What does risk management include?

Not to be confused with threats. Risk comes in different forms, depending on the company and industry it operates. It explains why industries have different standards for various aspects of operations. The goal of risk management and the business objectives should align. To grow, every business is subjected to uncertainties. Market and geographical expansion top the list of contexts for defining the risk management framework of a company. Also inherent in the context are the company’s products and services and how it introduces them to the market. Strategic linking of the business objectives and risks should include processes, policies, and legal entities. So a company’s risk framework plays a crucial role in combating unforeseen events while also serving as a cornerstone for its future expansion, superior market advantage, and financial growth.

Risk Management Solution Provided by Nuxgame

Part of a sportsbook solution should be monitoring and preventing suspicious activities and behaviors of players. Nuxgame is an online gambling solution that makes it possible to integrate an authorization process for every ticket. Solutions provided by Nuxgame allow setting a specified threshold limit that checks the odds and other parameters before approval.

How Risk Management Helps Betting Business

Creating a holistic risk management system is always business-specific. Any approach for a betting platform considers the type of betting services offered and the region it operates. A viable model, with some tweaking, integrates other betting verticals and adapts to new target markets.

There are different approaches employed in the betting industry to reduce or eliminate the common risks. For instance, the betting market is volatile and requires the operator to have some control. A loss limit is a model that limits operator loss to a predetermined limit. It offsets an excess imbalance in the betting pattern by putting the market on hold when the defined risk is exceeded. Such a balance is crucial for betting operators in maintaining financial security and maximizing profit.

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Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.