How the two go hand-in-hand for a stronger, safer betting industry.
Interviewed recently for SBC Americas1 (a gambling industry news service covering the Americas), Odds on Compliance’s John Wellendorf set out structured advice for internet gambling operators.
His commentary reflects the reality of gambling regulation – that many US states have moved from a top-down model of imposing rules (which may still apply but have proved difficult to police) to requiring gambling platforms to demonstrate the use of effective internal responsible gaming management.
In particular there is emphasis on regulators “actively monitoring [operators’] progress and compliance” with the operators’ own responsible gaming plans. In short, gaming platforms must set out their promise and show not just how they keep it, but how well.
Three key areas in which to demonstrate compliance
Wellendorf explains three essential aspects of effective compliance: responsible gaming awareness, proactive monitoring, and timely responsiveness.
All are important, and if one fails, then the organization as whole will, in practical terms have failed to meet its duty of care to its customers.
The first covers things like (ir)responsible promotions, staff training and the provision of resources and support that gamblers can access easily if they feel things getting out of control.
The third complements the first. If staff can spot and respond to problems swiftly, then everyone benefits. Fewer gamblers descend into the miseries of addiction, the platform reduces financial risk, and the industry develops a better reputation.
There is a catch; the first and third are dependent not just on staff training and good resources, but on genuinely effective, always-on monitoring of customer behaviours.
Comprehensive active monitoring of customer behaviors is essential.
If a gambling platform operator is not effectively monitoring the behaviors of individual customers, then their actions and initiatives are mostly guesswork. Both they and their customers will be at risk.
There are catches here. Most platforms will gather their own data but not have access to others’. Thus, a gambling addict may be using many platforms to disguise a volume of transactions that together would be an obvious red flag. Also, individual platforms may not have the resources to gather enough useful data to create good customer profiles until it’s too late.
Knowledge of the individual, globally.
Compli is a cloud-based service that provides always-on real time transaction monitoring. This is complemented by our global person concept – an individual person profile gathered from multiple databases, making accurate tracking genuinely meaningful.
Used independently by a single business it’s impressive in scope and range, helping to identify patterns of behavior that indicate likely harm to the business, the customer or both.
However, Compli’s unique capabilities also mean that co-operating organizations can share data.
Suddenly the ability to accurately spot gamblers vulnerable to addiction is a reality. No longer can the gambler use multiple platforms, accounts, and credit cards to hide their behaviors. With the quality of relevant data Compli can provide, the problem gambler can be identified and helped – possibly even before they know they have a problem.
Taking control of information demonstrates responsibility
If your business is involved in gambling in any way, integrating Compli into your operations makes sense. It will be good for your bottom line and it will also be a major step in demonstrating compliance alongside high quality corporate social responsibility.
If you’d like to find out more about how Essiell Compli and Compli can help identify problem gambling and protect businesses, communities, and families, get in touch via our website, www.essiell-compli.com , or email to email@example.com
By Bjorn Larsson Chairman of Essiell Compli.