Online Gamblers had the pleasure of sitting down with the co-founders of Greco, a fraud detection program in the gambling industry, to learn more about their stories. Continue reading below to learn more.
“You could fart, and the bonus turned into cash.”
Greco was founded by two guys who were once full-time bonus abusers themselves. They took advantage of the online casino technicalities and gameplay for thousands of dollars every week without the operator being able to stop them. Bonus abuse became so easy for them and so difficult for the gambling operators. One of the co-founders is then famously quoted saying, “You could fart, and bonus turned into cash.”
OG: How did you get to the point of being bonus abusers?
Greco: We are distantly related, and we had only seen each other twice before encountering on a bonus abuse forum. After spotting each other in a bonus abuse forum, we established a friendship and eventually started sharing casino hacks.
Also, it so happens that a bunch of people around us was also exploiting casinos. We didn’t enjoy slots or have any interest in beating them. We found them old-fashioned, so we occasionally placed online sports bets. Only later we picked up slots as part of the bonus abuse despite the fact we didn’t have an interest in playing them.
The stories behind getting into bonus abuse are incredibly similar. We both were approached several times by friends and colleagues who wanted to buy our identities for casino cheats. We couldn’t believe gambling cheats were possible and doubted our friends, who swore it to be true.
OG: How did you start working with bonus abuse?
Greco: We decided to research and educate ourselves on how to get profit from bonus abuse. After realizing it was possible, we subscribed to a bonus abuse forum that shares cheat guides. This bonus abuse forum lets users get one cheat for free to try it out. That first cheat provided enough profit to cover a yearly subscription to the bonus abuse forum with many more guides. At that point, all bonus abuse forums combined had 300,000 paying subscribers, and it’s suspected that many of the users, if not all, are gambling with additional identities.
Once we made enough profit from betting and casino cheats to quit our jobs, we decided to do this full-time. Next, we even hired employees and set up 10 computers in a room to manage the gambling abuse, but that’s a story for another time…
OG: Tell us about the beginning of Greco – the Gambling Abuse Prevention Tool
Ozric: To start with, I went under the name of Ada Lovelace, the famous female mathematician, when I was approached by one of Europe’s most significant betting operators.
The operator had realized that a group of bonus abusers had cheated the operator for £70.000 in a short space of time, and they didn’t know how to stop the gambling abuse. After a lengthy discussion with the other co-founder, I met a representative from the operator.
The meeting is at a fancy and up-scale hotel in central London. To stay anonymous, I continued to communicate under the name of Ada Lovelace. As a result, the operator offered one of the co-founders a consultancy contract to help stop other bonus abusers. However, after the consultancy ended, we rejected the job offer.
And guess what? Instead, we started consulting operators on bonus abuse solutions. We reached a total of 40 operators that used our knowledge and suggestions. Afterward, we launched a Gameplay risk management product of our own. And so, Greco was born.
OG: What is something that you have observed in the industry?
Greco: The biggest blindspot in the industry lies with the operator’s data. Not only is the data often not in real-time, but sometimes it can even take up to 48 hours to run a simple query or report. This is because the operators don’t have sophisticated data warehouses, and the gameplay analytics could be better.
We think that in the future, it’s very likely that we will see operators like Caesars, BetMGM, and FanDuel also invest in more bonus abuse prevention. The demand for this type of product will also increase drastically as more states like Ohio and New York open up for legal gambling. Although most US markets are only legalizing sports betting now, this type of fraud must be dealt with before legalizing icasino in more states.
Greco on LinkedIn
The first time Greco appeared on LinkedIn, it was under the joint name of Ada Lovelace. Uploading thought-provoking posts and unique data, the co-founders took the gambling industry by storm on LinkedIn. In the first week of Greco’s operations, they were already contracted to work with 7 gambling operators to help prevent bonus abuse.
Many in the industry were curious about who these anonymous bonus abusers were. Still, it wasn’t until 2021 that they revealed their real names and faces to the general public. This reveal happened as they switched names from Lovelace Consultancy to the new company name, Greco.
To add, they have received a lot of backlash and death threats since launching their company. Still, it has yet to stop these co-founders from continuing to expand their territory in the industry due to the importance of this tool.
The future of Greco in the gambling industry
With the experience from bonus abuse, the co-founders of Greco have helped operators save millions from this type of fraud. With the help of hundreds of data points, Greco can pinpoint which patrons are connected to an abuse scheme and report it to the operator. On their LinkedIn, Greco also regularly provides free updates on their discoveries of exploitable slots and similar.
Needless to say, the gambling industry has a lot to learn from Greco about how to stop gambling fraud. Greco is the only company offering this type of product to the operators, giving them a tremendous market advantage.
Having just launched in New Jersey through a partnership with Resorts in Atlantic City, Greco is only just stating their presence in the US. The United States is still behind on a lot of technology in the gambling industry. But even so, the European market is also just learning about the scale of this phenomenon through Greco and what to do to prevent this type of fraud.
Although it’s more challenging to commit bonus abuse in the USA thanks to geolocation services, the North American gambling fraud community is expected to be larger than anyone suspects. How big? Only Greco can tell as they expand their business in the US.
We wish Greco the best of luck in conquering the US gambling market!
Generally, a player who takes value consistently from the operator without giving value back is considered a bonus abuser. These players have gained a lot of education through online forums on exploiting internet casinos and bookies. The online forums are dedicated to bonus abuse, where players can pay monthly fees to get the latest information on how to abuse online casino bonuses.
- Players who breach the terms and conditions to increase campaign value.
- Players who scale their process by using different personalities.
- Players who undermine the operator’s segmentation process to maximize campaigns offered.
- Players who find bugs in systems and content.
- Players who do all of the above and much more.
Some players don’t break any rules, but still manage to take advantage of loopholes, often undetected by the operator. These players use their own accounts and play as themselves, which, once caught, usually only leads to fewer offered promotions or confiscated winnings.
Most often, the operator removes you from future promotions while letting you play for your deposits. They can also confiscate your winnings or cancel withdrawals if they can demonstrate that you have abused gambling promotions. In the more extreme cases, the operator will close your account/s, add you to a list of bonus abusers.
Bonus abuse is a lifestyle, and these players usually cheat the operators and treat it as a job. It might start as testing it once or twice, but it’s considered bonus abuse fraud once you create more accounts to maximize value.
Creating more accounts is usually necessary to scale the bonus abuse, as using one account is not long-term sustainable. Remember that online bonus abuse includes fraudulently betting from friends’ and family’s accounts, which is fraud.
It doesn’t mean that these players abusing the system are addicted to gambling. For these players, casino and sports bonus abuse are usually not about gambling, having fun, or playing the game, but more about the opportunity for profit. If you are actively breaking terms or the law to gain value from the operator, then you are classified as a bonus abuser and in some cases committing fraud.
Yes, claiming every offer in each state from a licensed casino or bookie is legal. However, it may not be allowed by the operator. Read the terms and conditions thoroughly for both general play and promotional offers. Technically, you can physically travel from state to state where it is legal and use geolocation services to prove it’s you playing and depositing in a regulated state. Some operators might have a limit on how many states you can sign-up to and play in. Read the terms and conditions or contact the operator to learn what is allowed.
Yes, the operator can see your address and your IP. They can also see your device’s fingerprint and make other correlations. Geolocation services can also determine your exact location and others who have been there before you. Fraud detection programs use hundreds of data points to determine if a player is committing online gambling abuse.
Players need to do their due diligence. Always follow the terms and conditions of the operator by reading them thoroughly before playing any game or claiming bonus promotions. Refrain from betting on sports or casinos through friends’ and family’s accounts. Only gamble for fun, and don’t gamble for more than you can afford. Learn more about responsible gambling here.
Have easily accessible and very clear terms for every campaign. Invest in tool like Greco to avoid bonus abuse.
No, thisbreaks the terms and conditions. This fraud may also prevent you from opening an account of your own in the future at any of the operator’s online and retail establishments.
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