In recent years, the gambling industry has made important strides in addressing problem gambling. Increasingly, the emphasis is on support for those at risk, rather than punitive measures. This shift reflects a growing recognition of the importance of responsible gambling practices and the need to protect vulnerable individuals.
Some organisations have acted slowly but the trend is in the right direction. Individual gambling operators are developing a more sophisticated understanding of corporate social responsibility, and operators are also meeting more demanding regulatory requirements.
Self help is often the best help
A third strand is the growth of industry bodies which aim to work with gambling operators and simultaneously support gamblers vulnerable to addiction. Take the state funded New York’s Responsible Play Partnership, which recently announced “changes to their voluntary self-exclusion process in an effort to make problem gambling easier to recognize and address.”
This is dealt with in more detail in a recent article on the Times Union website, which explains the working of a scheme where problem gamblers are enabled “to ‘self-exclude’ from casinos, racetracks or other wagering facilities…” and where help for individuals is more easily available.
To protect the vulnerable, and to protect the industry, more is required
One significant development is an increased focus on monitoring customer transactions. By analyzing patterns of behavior, gambling operators can identify signs of potential addiction. This proactive approach allows them to initiate conversations with customers who show signs of problematic gambling, potentially preventing further losses and emotional suffering.
Digital transaction monitoring plays a crucial role in this process. Sophisticated systems are capable of tracking behaviors that may indicate addiction, such as the use of multiple accounts or identities leading to the same accounts. Irregularities (or anomalous consistencies) in betting patterns can be detected, along with frequency and value, thus offering early warnings of harmful gambling habits.
Multiple benefits with digital transaction monitoring
Implementation of these systems is not only beneficial for the gamblers but also for gambling businesses. By identifying problem gamblers early, operators can take steps to ensure those customers gamble responsibly, thereby mitigating financial risks and maintaining a safe gambling environment.
A prime example is Compli from Essiell Compli. Compli provides comprehensive transaction monitoring services which detect and trigger alerts for behaviors associated with problem gambling. Its advanced analytics and reporting capabilities enable gambling operators to effectively monitor customer activities, ensuring that they can provide timely and effective support to those in need.
The beginnings of a paradigm shift
The move towards a more protective approach in the gambling industry is progress. It acknowledges the complex nature of gambling addiction and prioritizes the well-being of customers.
By employing technology like Compli, gambling operators can maintain can balance engaging gambling experiences with ensuring the safety and health of their customers. Supported by sophisticated monitoring tools – like Compli – operators can play a pivotal role in helping individuals manage their gambling habits, making the industry safer and more sustainable for all involved.