In the USA, online sports betting continues to expanded rapidly. It’s not just in professional leagues but in college sports too. Relaxation of state laws around online gambling and sports betting has led to a prolonged surge in this often compulsive form of entertainment. The growth, while presenting new opportunities, means that gambling addiction is not far behind.
In fact, it’s in the would-be localized arena of college sports that addiction problems appear most acute and widespread. Unfortunately, the response from Federal and State regulators to this trend often seems inadequate. In many states, legislative actions are either slow to take effect or insufficient, despite good intentions. In others, there can be a reluctance to interfere.
A New “Opioid Crisis”?
Gambling addiction is a complex experience, often wrapped up with other difficulties and personal challenges. As explained in Time Magazine* recently,
“Gambling addiction is a disorder recognized by the American Psychiatric Association, but students who don’t meet all the criteria for a clinical diagnosis can still struggle with gambling. It’s often correlated with other forms of addiction, as well as anxiety and depression, experts say, and problem gamblers are at greater risk of suicide. Because it is legal, because it is aggressively promoted by corporations, because of its capacity for destruction, and because it is spreading so quickly, observers see parallels between gambling and opioid addiction.”
The gap between diagnosis and the reality of addiction means problem gamblers often miss out on crucial support. They’re left leaving vulnerable to their habit’s severe impacts.
A Crucial Role for Gambling Operators
In college sports betting, where smartphones dominate, gambling operators have a very digital relationship with those to whom they sell the dream of a big win. The operators have a responsibility to identify and address addictions. Doing so is a social good, and it’s better for their bottom line too. They need to be vigilant in recognizing behaviors indicative of addiction. Here, transaction monitoring can play a vital role, identifying potential addicts and thereby facilitating access to support. Behavior checking like this needs customized digital services, which are starting to be more visible in this environment.
Compli stands out as a fintech leader offering a robust solution for this challenge. Its service, designed with a global person concept for KYC checks, can track behaviors across multiple databases. That’s a crucial feature for identifying individuals who may use several accounts to mask their gambling activities.
A Deeper Look into Transaction Monitoring
Compli’s behaviour checking goes beyond surface-level analysis. It delves into betting patterns, frequencies, and the erratic behavior that often signifies addiction. This depth of analysis is vital in pre-empting gambling issues, particularly among college students who might not yet show overt signs of addiction.
Compli’s approach to monitoring is about more than regulatory compliance. It is about actively creating a safer gambling environment. By identifying problematic gambling behaviors early, Compli enables operators to provide timely interventions, steering individuals towards the help they need and ensuring safer betting practices.
The Road Ahead: Safeguarding the Future of Sports Betting
As the popularity of sports betting continues to grow, the adoption of technologies like Compli is vital. It benefits individuals at risk and enhances the integrity and ethical standing of the gambling industry. It reflects a commitment to responsible gaming and the well-being of bettors. With such precautions, sports betting can still remain a safe and enjoyable activity.
*An Explosion in Sports Betting Is Driving Gambling Addiction Among College Students – Time Magazine, December 12, 2023
