The online gambling industry has taken some serious hits in recent months, and deservedly so.  The online gambling industry has been hurt by incidences of cheating that have sullied its reputation.  Much like the Old Wild West, the online casinos have been portrayed, at various times over the course of the last eighteen months, as being reckless, unsupervised and subject to cheating.  Unfortunately, there have been cases that have proven this allegation to be true in some establishments.

Television’s “Sixty Minutes” documented the online casino cheating scandal that rocked the online gaming industry.  Two of the online casinos, Absolute Bet and Ultimate Poker, were rocked by insider cheating.  Once the news was let out of the bag, all online casinos were fair game.  While the industry has taken some steps at self regulation, there has been a recent development that may prevent cheating and fraud in online gambling in the future.

Additionally, the British Territory of Gibraltar has come under fire this past week for its poor financial oversight.  Gibraltar , long known as the “Capital of Online Gambling,” because of the number of online gambling sites within its boundaries, has come under fire because the Ponzi Scheme King, Bernard Madoff, has billions of dollars stashed away in Gibraltar banks.

At last, there is a silver lining in the dark clouds that have been hovering over the online gambling industry in recent times.  CogniSafe has brought its technological abilities to the forefront by combining its talents with 21 Ventures, an investment company from the , to create a software program that can detect cheating at online gaming sites.  By utilizing this software, the Operator and/or Pit Boss can detect bots or software cheating at both online casinos and at poker room sites. 

The program works by monitoring both the style of play and the strategies and logic employed by both the players as well as the site operators.  By analyzing the data obtained from this software program, programmers can determine if play was compromised by known fraudulent methods or that there is a new threat that has made its presence.

A CogniSafe spokesman said that the new software will monitor online gaming for honesty in play, and that it exhibits “intelligent, autonomous and self-learning capabilities.”  We’ll soon find out how successful the new software is in clamping down on cheating methods in online casinos, a threat to the fibre of the industry.  It is the fondest expectation of website operators that this will put the online gambling cheats out of business.