If you’re a designer looking into a new market or niche in 2024, you might want to consider learning how to design for iGaming website. If you’re wondering why you should consider that industry in the same place, it’s because iGaming is a booming business. Their revenue is expected to show an annual growth rate of 9.02%, which means they could hit $124.20bn by 2027. With an expected 233.7m users in that same year, demand for designers is likely to go up.
In this article, we’ll take you through all the basics you need to know to become a knowledgeable designer for iGaming businesses, and how you can help keep them and their users safe.
To understand how important money laundering prevention is in the iGaming industry, it’s crucial to know why the business is so hip and happening – because everything is connected.
But more payment methods and more security features don’t mean it’s an airtight system. And iGaming is, in fact, a ‘great’ place for money laundering.
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To design armor against your enemy, it’s essential to understand how they work. And that’s where a quick explanation of money laundering comes in handy.
Money laundering is an old practice, in which illegally obtained funds are being ‘washed clean’ by putting them into the legitimate economy. Here’s a simplified process:
After this process, it is incredibly hard if not impossible to check where money has come from – and that’s what criminals love.
So, how does this work in the world of iGaming? There are various tactics that are being used, but these are the three most common ones:
The bad news is that every country has its own rules and regulations regarding what effective measures need to be taken against money laundering. The good news is that there is a lot of overlap, such as:
While that is not always directly related to design choices, it is good to be up to speed with this and to be engaged with legal or anyone overseeing compliance, so you don’t have to go back and forth in your designs. Now, let’s get to the designing part.
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Anti-Money Laundering (AML) is crucial for iGaming website design. The iGaming industry is on the rise, and this growth is beneficial for both the good and the bad actors in the ecosystem. Designers need to know AML in order to build safe environments.
Money laundering is one of the most dangerous risks. Some of the criminals use the iGaming platforms for the laundering of the illicit funds. They put money, make small stakes, and cash it as real winnings. This process is referred to as layering making it difficult to track the source of the money.
Fortunately, designers have an important part to play in avoiding this. They can integrate functionalities that are capable of identifying such activities. For instance, it is possible to track the irregularity in betting and use it as an indicator of money laundering. Also, implementing strong KYC procedures guarantees that only genuine users can participate in the platform.
Recent statistics show that AML is important. The American Gaming Association’s 2022 report underlines the need to refresh the AML practices because of the increasing popularity of digital payments and cryptocurrencies. To develop efficient AML solutions, designers have to be aware of these trends.
You already know that design isn’t only about looks, even in the realm of iGaming, where aesthetics play a big role in the user experience. What goes on behind the front end is all about creating a smart, secure, and intuitive environment. And AML is a part of that, so it’s crucial to create a balance between design and functionality.
By integrating features like identity checks and transaction monitoring into your design that is smooth and user-friendly, you help people safely use an iGaming website. With seon’s AML monitoring, you can do it in a user- and designer-friendly way. The secret is to use a solution with an easy integration that helps keep your business safe. Let’s look at some other things to keep in mind when designing for iGaming in terms of AML.
You don’t want your AML measures to be super in-the-face of your iGamers. The best way to do it is by integrating the necessary requirements into a seamless UX. That means that checks like identity verification, transaction monitoring, and risk assessment tools find their place in the design in a way that feels natural and unintrusive. Try to make these processes part of the user journey, not an interruption of it.
Another reason to pay extra attention to this is that complex compliance processes can send users running in the wrong way, or even create a brewing ground for mistakes. So, ‘’dumb it down’’ as much as you can.
When looking at it this way, that means you should try out streamlined forms for identity verification, or even add in visual cues that guide users through the AML requirements without feeling overwhelmed. Use color coding, icons, or progress bars to indicate steps completed and what’s next in the AML process.
Your design choice can build or break trust. You can use elements in your design to educate users about what is happening in terms of AML measures. A quick tooltip, popup, or other brief indicators or explainers make AML regulations more visible, as well as implementing design elements that signal security to the user, like secure lock icons or privacy reminders.
Work together with the developers on this. Because incorporating AML features only works if they really work. This means designing responsive forms, alters, and check systems that seamlessly adapt to different screen sizes and platforms.
AML measures should keep everyone safe, so accessibility is key. Ensure your compliance processes are clear and straightforward, so nobody is left behind.
Just like in any other design process, designing for AML means that user feedback and testing are a must. Continuously test your designs with real users to ensure that the AML components are intuitive and effective. Gather feedback and be prepared to iterate on your designs to improve the user experience while maintaining rigorous compliance standards.
With the incredible growth in the industry, there’s a good chance they will be on the lookout for savvy designers. Start getting your compliance knowledge in, and read more about designing for gaming now to make 2024 your year!
To our readers, whether you’re a startup taking your first steps into the digital arena or a seasoned business aiming to redefine your online identity, consider Designveloper as your partner in this journey. Let’s elevate your digital presence together, transcending the ordinary and creating a virtual space that captivates and converts. In the world of web development, excellence isn’t just a goal; it’s a standard we uphold with every line of code we write and every design element we craft. Your digital evolution starts here.
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