What Is Responsible Gambling And How It Affects Customers And Operators

It’s all fun and games – until it’s not. Although gambling is a popular and undeniably fun pastime, it should not be treated as a means to generate income. That’s where responsible gambling comes in. The concept of responsible gambling is a broad one which holds several policies and requirements that apply to gambling stakeholders so as to make sure that they respect protocols and provide a safe gambling experience for all.

A brief look at the 7 types of responsible gambling areas

  • Protection of vulnerable customers – This can be controlled through self-exclusion programs, limits on the amount of money and time players can spend on the gambling website, reality check functionalities, and the possibility of setting a financial limit to a gambling account.
  • Prevention of underage gambling – Operators must take the necessary steps and precautions to prevent people under the legal age (18-21) from playing by presenting a clear registration process while players are setting up their gambling account.
  • Safety measures against criminal activities – Operators can prevent fraud and criminal activities by installing software programs that detect and block money laundering and hacking.
  • Information privacy – Strong policies need to be in place to control access to private information such as customer names, addresses, and phone numbers.
  • Online payment protection – Operators need to make sure that personal customer payment information is safe and secure. This can be done through a reliable software program to protect all data.
  • A secure online environment – Operators need to make sure that their websites are secure, fun and enjoyable for customers to gamble at.
  • Ethical and responsible marketing – Advertising should be factual and not target underage or vulnerable customers.

The above responsibilities are mainly targeting operators, however for responsible gambling to be a success, players also need to be self-aware and abide by rules such as:

  • Gambling is seen as a form of entertainment and not as a means to earn money.
  • Customers should never bet more than they can afford to lose.
  • Customers should self-assess their time spent gambling, take frequent breaks, and check their wins and losses.
  • If customers feel that they, or someone they know, have a problem with gambling, there are organisations that can provide the necessary support.

ComplyRadar can help operators provide a safe and enjoyable gambling environment

ComplyRadar helps you address the responsible gambling requirements by automatically identifying problematic behaviour in real-time or retrospectively. It monitors gambling activity on an individual customer basis which is then measured against each specific customer’s profile. This automated process provides you with a unique betting fingerprint for each of your customers – enabling quick detection of out-of-profile activity for all your customers. For more information on how ComplyRadar can help you provide a safe gambling experience for your customers, contact us today.

The Compliant Customer Journey Always Wins

There are few industries as rapidly evolving as iGaming – that much is a fact. Every day brings exciting new developments in the tech world, and with each new product, service, and update – operators strive to improve their offering in line with their customers’ growing expectations. It comes as no surprise, then, that optimising the customer journey is firmly at the top of the priority list for any organisation looking to compete in this industry.

The cost per customer acquisition seems to be creeping higher and higher, and keeping those hard-won customers is becoming more of a challenge as iGaming companies continue to one-up each other by offering the best product, service, deal, or promotion on the market. That’s why building and retaining customer loyalty is paramount in today’s industry.

The modern customer wants a seamless experience on your iGaming platform. Sounds simple, right? Well, not quite. Making the most of your customer journey is crucial, but first you need to make sure you’ve got your basic processes and regulatory matters down to an absolute T.  To the outside world, it looks like this: a customer signs up, logs in, places a bet, then wins or loses that bet. But ask anyone who really knows the industry, and you’ll quickly find that there’s a lot more going on behind the scenes.

Keeping Players Happy & Staying Compliant

It all begins long before a player registers on your site; the minute they land on your page, the process has already kicked off – and you don’t want to find yourself playing catchup so early in the game. As an operator, you’re already tapping into your analytics behind the curtain, asking questions about the user’s risk level, location, IP address, and whether or not their device has been previously blacklisted. Other key considerations should include:

  • Are they Politically Exposed Persons (PEP)?
  • Has this contact information been associated with different names before?
  • Does the card they’re using match the details of the user who registered?
  • Is their first deposit disproportionately large considering their demographics?

Later down the line, you’ll want to delve a little deeper into their ongoing betting patterns and overall habits. Check on what they’re betting on, and what their behaviour and spend usually looks like. Any change in habit needs to be flagged and can be as subtle as playing far beyond their established routine, a change in the type of game they choose, or a marked increase in their daily spend. Identifying patterns of behaviour indicative of addiction is essential, so the earlier you can pinpoint that behaviour, the better, and this once again demands that you tighten your processes. Invest time and money early on in the game, and you’ll see it pay dividends soon enough – your loyal customers will be a testament to that.

It’s All About A Positive Customer Experience

Transaction Monitoring has become a necessity for compliance officers within the Gaming sphere to identify AML risk and detect suspicious activity. ComplyRadar enables you to fulfil your AML obligations whilst nurturing your genuine and VIP customers. Contact us for more information on how ComplyRadar automatically detects suspicious transactions – quickly and effectively – to help avoid reputational risk and potential fines.