Fraud protection technology provider Kount will soon be launching its services in the Nevada online gaming market following unanimous approval this week from the Nevada State Gaming Control Board and the Nevada Gaming Commission.

The supplier offers solutions that prevent fraud by analysing transactions in real-time to assess whether any illegal activity is taking place, and as fully automated solutions removes the need for users to manually check processes. It also provides a range of business intelligence tools that it claims can help increase future revenue opportunities by gathering customer data.

Kount chief operating officer Rich Stuppy explained that the company had moved into the Nevada gaming market as the popularity of iGaming would prompt individuals to attempt to illegally profit from the past-time.

“Fraud follows opportunity, especially in areas like online gaming where revenue growth and popularity continue to surge,” he explained.

“Fortunately we can now offer our industry-leading technology and expertise in protecting many of the world’s leading online brands to this growing segment of the gaming market,” Stuppy continued. “By implementing Kount, online gaming businesses can protect both their operations and their patrons from the impacts of fraud, paving the way for continued growth while insuring their business remains compliant with industry regulations.”

The supplier highlighted a report from the Centre for Gaming Research of the University of Nevada, Las Vegas, which forecasted annual revenue of more than $130m from online gaming, which it said was a small fraction of international revenue but growing at a steady pace.

“While the growth of online gaming to date has been substantial, some reports estimate this segment growing to nearly $9 billion during the next several years,” Stuppy said. “As more games are developed and more states allow Internet gambling, the right fraud solution will not only protect and ensure the security of gaming operations, it will enable companies to grow quickly without the threat of fraud."