The multi-billion dollar iGaming industry is set to grow even further in the coming year. Sports betting has also seen tremendous growth, and new online casinos and sportsbooks are popping up constantly. This enormous spike in online gambling has resulted in a negative social effect. Critics of the industry say that being able to gamble from anywhere at anytime fuels the gambling addiction.
In response, many iGaming companies and online casinos have established different methods to ensure all their customers gamble responsibly. Independent bodies, such as GamCare were also set up, and these third-party companies offer counselling and therapy to those affected by gambling addiction. Most online casinos are affiliated with one or more responsible gambling platforms.
Responsible Gambling Policies
In recent years, all casinos and iGaming companies have developed strict responsible gambling policies. These include:
- Deposit limits: Online casinos allow players to make a decision on how much money they want to spend before they start playing. This greatly reduced gambling problems, as players are unable to go into debt or gamble excessively. Most casinos allow players to set fixed limits upon registering and these cannot be increased for a set period of time.
- Time-outs: Players at online casinos may temporarily exclude themselves from the website for a set period. This can often be extended for over a month, and their accounts are disabled during this time. Some casinos will encourage players to exclude themselves if they are gambling too much and suffering heavy losses. If players feel its necessary, the can ask for their account to be suspended for several years.
- Loss Limits: Players can set a ‘loss limit.’ Similar to a deposit limit, a loss limit means that you will be prevented from betting if you lose too much in a set time period. Loss Limit. Usually, limits can be lowered instantly, but you cannot raise them until a certain amount of time has passed.
- Time Limits: Players can also set a time limit. This means that they will be locked out of the casino after a certain amount of time, regardless of how much they’ve spent/lost. This is useful for players who tend to lose track of time and spend too long on gambling sites.
- Predictive Tools: Mr Green is one of the industry’s finest casinos, and it’s also an innovator in responsible gambling. Mr Green’s Predictive Tool keeps the player informed about their own gameplay behaviours. It suggests possible solutions if it detects that the player is gambling too much, and reminds players when they’ve lost large amounts and advises them to gamble responsibly. It has been developed by a team of industry professionals.
As Online Gambling Grows, Responsible Gaming Must Do Too
The growth of the online gambling industry is inevitable. For better or worse, a new generation of mobile-users and online gamers are taking to online gaming and sports betting in droves. Although gambling can be a fun, entertaining activity, it can also descend into addiction and self-destructive behaviour. It’s imperative that online casinos retain their partnerships with gambling therapy services and continue to offer players solutions to limit their gambling habits.