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Trust issues: only a third of the public thinks gambling industry is fair

George Miller

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Trust issues: only a third of the public thinks gambling industry is fair
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The reputation of gambling among the public is failing to improve, according to a report published by the Gambling Commission on Tuesday.

Those gambling operators with a reputation for treating their customers fairly and well will have a competitive advantage, the regulator added.

The commission’s gambling participation report for 2017 found that 33 per cent of those surveyed believed gambling is fair and can be trusted, down one percentage point on 2016 and from 48.8 per cent in 2008.

“As previously reported, these findings could be related to gamblers’ concerns about the fairness of terms and conditions and the odds offered by gambling companies,” said the report.

The survey also found that 41 per cent of people thought gambling was associated with crime, up two percentage points on 2016.

Gambling Commission programme director Ben Haden said: “Our research shows the main factor that influences where someone gambles is a company with a reputation for being fair and trustworthy.

The message from that is clear – gambling companies that treat their customers well and act responsibly will be at an increasingly competitive advantage.

The data, which was gathered through a combination of telephone and online surveys carried out by market research company Populus, found that 45 per cent of people had gambled in the previous four weeks – down three percentage points – a figure that dropped to 31 per cent after stripping out those just playing the National Lottery.

The most popular betting activity in 2017 was football, with five per cent of respondents, followed by horseracing at four per cent.

However, horseracing and spread betting were the only activities to display a fall in online gambling participation.

Only one per cent of those surveyed had played on fixed odds betting terminals and, in a finding that will be seized upon by betting shop operators as the government mulls over the responses to its consultation on FOBT stakes, the report noted that FOBT players were much more likely to gamble for fun (61 per cent) than to try to win money (39 per cent).

The report also quoted figures published last year which stated 0.8 per cent of the population were problem gamblers, with a further 3.9 per cent identified as being at risk.

It added that the commission’s regular telephone survey reported the problem gambling rate to be 0.6 per cent, but said that due to its small base size it “should not be considered the commission’s comprehensive estimate of at-risk gambling rates in Great Britain”.

 

Source: RacingPost

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Compliance Updates

EU Report Suggests Consumer Protection Approach to Tackle Loot Boxes

Niji Narayan

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EU Report Suggests Consumer Protection Approach to Tackle Loot Boxes
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A report commissioned by the EU Internal Market and Consumer Protection Committee has recently come to the conclusion that the EU should stop approaching loot boxes as a gambling issue and treat the practice as a consumer protection issue.

The report concludes that while the problematic practice can be dangerous due to the way that it can prey on obsession and addiction, especially in younger players, gambling can only be regulated on a country to country basis. This would leave the rule of law for loot boxes and gambling in gaming fragmented among the Member States that make up the EU as each country will be allowed to create there rules separate from the others.

“Since gambling is a national competence of the Member States, approaching the issue from this angle may lead to a fragmented market for video games within the EU… It is therefore recommended to tackle problematic game designs from a wider consumer protection perspective,” the report said.

As a result of this report, the recommendation has been made that loot boxes and problematic game designs be treated as a consumer protection issues, which the EU has the power to set standards for across all Member States. This conclusion comes from the risks that loot boxes can pose to vulnerable and younger players who either may build addictive behaviours, or not understand the true values of their purchases.

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Compliance Updates

Gaming Innovation Group receives CSIE license in New Jersey, USA

George Miller

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Gaming Innovation Group receives CSIE license in New Jersey, USA
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Gaming Innovation Group (GiG) is pleased to announce its subsidiary, iGaming Cloud Inc., has today been granted a permanent casino service industry enterprise license (CSIE) from the Division of Gaming Enforcement (DGE) in New Jersey, USA. The application was filed back in June 2018, and GiG has supported Hard Rock International’s casino operations in New Jersey under a so-called transactional waiver pending the final approval.

The license is granted for five years and gives GiG a permanent license to provide its real-money online casino platform solution to operators in the state of New Jersey.

Richard Brown, CEO of GiG says: “We are delighted to receive the CSIE license after a long and comprehensive process. This is a great achievement for GiG and gives us a solid confirmation that our platform, procedures and operations are meeting the highest standards out there.”

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Compliance Updates

Smarkets introduces betting exchange to Swedish market

George Miller

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Smarkets introduces betting exchange to Swedish market
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Betting exchange Smarkets has launched in Sweden after receiving approval from the national regulator. The London-headquartered company operates one of the world’s leading peer-to-peer platforms for trading on sport, politics and current affairs, and it is now available to users in Sweden at smarkets.com.

Smarkets will become the second licensed betting exchange in Sweden, where online gaming and betting operators reported revenues of SEK14bn (£1.2bn) in 2019, according to figures from regulator Spelinspektionen and the Swedish Tax Agency.

As well as its UK base, Smarkets also has offices in Los Angeles and Malta, and is one of the industry’s only operators to own its full technology stack.

Jason Trost, Smarkets CEO/Founder, said: “We know that customers in Sweden have been eagerly anticipating us going live, so I’m very excited to launch the Smarkets exchange there.

“I am confident that our market-leading prices and superior product will appeal to Swedish customers. The fact that we own our tech stack is one of the reasons we are able to offer the best pricing in the industry, and I’m really looking forward to growing our user base in Sweden.”

Sweden is the second new market in which Smarkets has recently launched. Whilst Swedish customers will be able to use the Smarkets betting exchange, the company also introduced its SBK sportsbook app to bettors in the US state of Colorado in June, and plans to release SBK in Indiana before the end of the year. Smarkets has been available to users in the UK and Ireland since 2010.

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