Responsible Gambling in Online Casinos
Online gambling is among the preferred method of gaming for many these days. As the popularity of online betting continues to grow, operators and players want to feel safe. However, with that comes certain responsibilities for both parties.
The global online gambling market is estimated to be worth around $65 billion in 2022. Casino and sports betting site operators want to ensure that their players gamble responsibly. This requires solutions that support customers, protect gambling authentiucity, and prevent fraudulent activity. Such measures are designed to assure players that they are playing or betting on a safe online gambling site.
However, both sides may be concerned that a lot of time and effort is needed for safe gambling to be possible. However, the opposite is true.
What is Responsible Gambling, and Why is it Important?
Responsible gaming is all about prevention. Players seek entertainment, but sometimes things go too far, or individuals take advantage of the system. Instead, responsible gambling is a concept that encompasses several guidelines and requirements that apply to gambling participants. Several measures ensure that operators adhere to the highest quality standards while providing a safe user experience that protects customers from the potential negative consequences of online gambling.
Creating and maintaining a socially responsible gambling environment and providing measures to support players’ gambling behavior make up the principles of the European Commission’s recommendations. Although it is up to individual players to use the tools provided, member states must ensure that appropriate tools are available to enable safer gambling.
As such, the recommendation defines that online gambling operators should be required to let players set their own financial and time limits; offer time outs, breaks, and long-term self-exclusion systems to provide players with information about their gambling and spending paterns; and contact any customers whose gambling patterns indicate a potential development of gambling problems.
In addition to this, it is suggested that gambling sites should display links to support hotlines and other relevant details of support organizations to encourage responsible gambling. EU member states are also urged to create national self-exclusion registers that allow players to self-exclude gambling from all online providers licensed in that jurisdiction and ensure that all providers have access to these registers. Through this promotion, the number of member states providing national self-exclusion registries has increased to 16 in the last three years.
In this way, gambling operators can give their customers all the tools they need to practice responsible gambling. However, this is not only achieved through self-exclusion and monitoring of gaming behavior. It also entails several other aspects on the part of stakeholders. Below are the key points of what responsible gaming is all about:
- protecting at risk gamblers with responsible gambling tools and self-exclusion options
- preventing underage gambling
- combating criminal activity through security measures
- providing an information policy
- ensuring online payment protection
- maintaining a safe online environment
- adhering to ethical and responsible marketing
- the great importance is evident in these practices. Companies in the online gambling industry that implement the above measures act as role models regarding the importance of responsible gambling.
Preventing Fraud and Gambling by Minors
It is not only vulnerable and underage gamblers that are protected. By having a secure website, the operator can combat criminal activity that would put the company at risk and its players at risk. Gambling among 16- to 17-year-olds has been declining in Germany since 2011, but 69% of young people still participated in various gambling activities before their 18th birthday. This is one of the many reasons why the German government severely restricts online gambling in Germany.
Furthermore, criminal activity is a serious problem in many aspects of the Internet, online gambling included. This is especially true when major sporting events such as the World Cup occur and operators see increased user activity.
In the first quarter of 2022 alone, the global rate of online gambling fraud increased by over 50%. As a result, secure online gambling sites need to verify the identity of their players to prevent cases such as fraud and underage gambling.
How Identity Verification Can Help with Responsible Gambling
Many businesses and players are put off by the requirements when it comes to online gambling and identity verification. However, it doesn’t have to go to that. Businesses can offer responsible gambling while welcoming new players, even during high crowds at major sporting events.
The key to this success lies in a user-friendly verification process that minimizes fraud. By providing such an experience, major sporting events like the 2022 World Cup can become perfect examples and opportunities for operators to show what they can do for their customers.
Part of planning such events is encouraging players to verify their identity before the event. During EURO 2020, IDnow proved how useful it can be to consider background checks before the actual identity verification with the AutoIdent and VideoIdent options provided. These include what browsers and devices may be used by players so that demand can be met.
Gaming operators are also able to quickly scan an NFC document through the use of NFC, which requires less manual labor. This improves the gross margin for the business and increases user conveniuence. It also provides the company with a higher level of security by reading the chip as more authorities accept it.
This way, a new type of sophisticated crime can also be detected, as it would not be possible without identity verification. IDnow found during EURO 2020 that fraudsters were using very well forged IDs, with security features such as holograms and watermarks almost perfectly replicated. If an ID document is perfectly developed, verification solutions are needed that go beyond visual security features – as is possible thanks to NFC.
Ultimately, identity verification is a win-win situation for both betting operators and sports fans, providing a high level of security for the company and a fast and convenient onboarding process for the customer. 83% of operators believe smooth digital transactions are essential for business survival. Consequently, this also builds trust between the operator and its players.
Use IDV and KYC at Major Sporting Events
Preparation is indeed the magic word because you will be successful only by using identity verification platforms like IDnow and implementing robust KYC processes for a relaxed player onboarding experience.
With solutions like IDnow’s AutoIdent and VideoIdent, which use artificial intelligence to verify security features on identity documents and potentially cover more than 7 billion customers from 195 different countries, you can be confident that your customers’ identities, as well as their ages, are verified.
Our solutions focus on security and a straightforward application for the customer, making the process very simple. All required is to follow on-screen instructions to complete the verification within minutes. With this technology, we achieve conversion rates of 90%.
This makes major sporting events such as the upcoming World Cup attractive for gambling providers and their customers. Regarding customer onboarding, security does not fall by the wayside; instead, it is improved.
Moreover, the IDnow platform covers a wide range of use cases in regulated industries in Europe and for completely new digital business models worldwide, allowing the verification process to be adapted to different regional, legal, and business requirements.
By leveraging such robust KYC processes as those offered by IDnow, betting operators can be confident that responsible gambling is taken seriously through our identity verification solutions. They can rely on the IDnow team and its experience to meet all key factors and stand out as a partner for customer identity verification.
Conclusion
Responsible gambling is an important aspect of any gambling activity, whether online or in-person. The goal of responsible gambling is to ensure that players can enjoy gambling in a safe and controlled manner without risking their financial, mental, or emotional well-being.
Many strategies can help players engage in responsible gambling. These include setting a budget for gambling, only gambling with money that you can afford to lose, and taking regular breaks from gambling to avoid becoming too immersed in the activity.
It’s also important for gambling providers to take responsibility for promoting responsible gambling practices. This can include providing information and resources to players about the risks of gambling and how to gamble responsibly, as well as inplementing measures like self-exclusion programs and tools for setting deposit and time limits.
Ultimately, responsible gambling is about balancing enjoying the entertainment and excitement of gambling and minimizing the potential risks and harms associated with the activity. By practicing responsible gambling habits and supporting responsible gambling initiatives, players and providers alike can help ensure that gambling remains enjoyable for all.
