Connect with us
SIS

Industry News

UKGC: How will the ban on gambling with credit cards affect the industry?

George Miller

Published

on

UKGC: How will the ban on gambling with credit cards affect the industry?
Reading Time: 3 minutes

 

U.K’s Gambling Commission recently made a decision to ban gambling with credit cards. The Commission has been on a mission to promote responsible gambling and it looks like this is the next step. From now on players won’t be able to bet the money they don’t have on online games. The initiative has been around for over two years, ever since charity groups GambleAware and Citizens Advice first suggested the idea. According to the commission, around 22% of problem gamblers use credit cards to play, so it makes sense to introduce this ban in order to avoid credit card debt. This could be the start of the revolutionary approach to gambling that we haven’t seen yet. The U.K is pioneering the movement aimed at putting an end to risky gambling and promoting the responsible approach instead.

What the commission hopes to accomplish

By imposing this ban the commission hopes to promote the approach that urges the players to only spend within reason. When gamblers use credit cards it can become harder to know when to stop, because you’re not losing the money you already have. The whole appeal of the credit cards is also their biggest downside. They prevent you from thinking about money in a responsible way, in the industry where money can so often become an issue, it seems irresponsible to gamble away by using a credit card.

With this move, the commission hopes to promote a more balanced approach to gambling and it might be setting an example for other countries to follow as well.

This ban hasn’t been made official yet, and U.K’s major betting websites including PokerStars, 888, Betfair and Bet365 are still accepting credit cards on their websites and have previously received criticism for along their players to get themselves into huge debts.

It hasn’t been confirmed yet, but it is likely that payment services like Paypal and various e-wallets will also be banned.

This is a huge shift in the gambling industry and the feedback has been mixed. While this move will definitely help those with the spending problem to get their bad habits in check, for those who have no problem gambling responsibly even with credit cards it might become an inconvenience. But since the topic of responsible gambling has become so relevant, it makes sense that the U.K made this decision.

We’ve seen a major shift in the way authorities approach gambling and according to industry authority VegasSlotsOnline, there are more regulations coming in the way of the casino industry, such as the record fine of 2.34 million Euro imposed on Blackrock Media by the Malta Gambling Authority.

The future of gambling

Gambling has become a huge part of the entertainment industry and online casinos have only taken its popularity further. But with online casinos, it also became harder to control some aspects of gambling. For example with online gambling it might be harder to control whether or not the player is underage, there is more room for fraudulent activities and overall online casinos have presented a whole new set of challenges for the gambling community, playing with credit cards being one of them. The proactive approach aimed at creating a more regulated gambling scene will definitely make the change for the better in the industry, but it is a fine line between trying to regulate the negative aspects of it and then trying to keep the casinos under tight control. The second one will definitely not last very long while the first option can only bring positive changes to the community.

This trend of promoting responsible gambling can be seen in other parts of the world as well, and if the U.Ks effort turns out to be successful we will likely see the wider adoption of the new regulations across other countries as well.

Advertisement
Kasynos.Online

Industry News

Vibra Gaming and First Look Games Strengthen Their Partnership

Niji Narayan

Published

on

Vibra Gaming and First Look Games Strengthen Their Partnership
Reading Time: < 1 minute

 

First Look Games (FLG) has strengthened its partnership with LatAm focused developer Vibra Gaming who will now white-label its cutting-edge client area.

Vibra Gaming joined First Look back in July. By extending the partnership, Vibra will now be able to use FLG’s fully brandable client area to showcase its portfolio of online slots and casino games to its existing and potential operator partners as well as affiliates.

The developer has also taken advantage of FLG’s Premium offering, which allows studios to upload game information two weeks prior to launch so a select number of affiliates can have a “first look” and create content ahead of the official launch.

“We are delighted to extend our already successful partnership with Vibra Gaming and for the studio to be able to leverage the power of our state-of-the-art client area to properly showcase its games. Our white-label client area is intuitive and easy to use, allowing developers to show their games to both operators and affiliates in the best possible way. When this is combined with our First Look Games library, studio’s such as Vibra have a powerful and cost-effective marketing platform,” Tom Galanis, Founder of First Look Games, said.

“Our partnership with First Look Games continues to go from strength to strength and we are thrilled to be white-labelling its market-leading client area allowing us to showcase our games like never before. This is an incredibly competitive sector and with the cost of marketing continuing to rise, up and coming developers such as Vibra need to market smartly and cost-effectively and First Look Games certainly allows us to do that,” Ramiro Atucha, CEO of Vibra Gaming, said.

Continue Reading

Industry News

Admix Extends Series A Round to Raise Further $1.5 Million from Leading Gaming Investors

Niji Narayan

Published

on

Admix Extends Series A Round to Raise Further $1.5 Million from Leading Gaming Investors
Reading Time: < 1 minute

 

Pires Investments plc has provided an update on its investment in Sure Valley Ventures (SVV) in relation to Admix, a company within the SVV portfolio, which has developed a programmatic monetisation platform for gaming and other entertainment developers.

Two years after its initial seed funding, London-based start up Admix has extended the Series A funding round announced in June 2020, raising a further $1.5 million from strategic gaming investors, bringing the total round to $8.5 million.

Marcus Segal, former COO of Zynga Studios and Nigel Morris, former CEO of Dentsu Aegis, joined the round, alongside a number of unnamed executives working in the gaming and advertising industries in which Admix operates.

Pires has a circa 13% interest in SVV. SVV is a venture capital fund focused on investing in the software technology sector with a specific focus on artificial intelligence, the internet of things and immersive technologies.

“Only two years after its initial seed funding, this extension of the funding round announced earlier this summer demonstrates the excitement surrounding Admix’s platform for gaming and entertainment developers at the moment. In-play advertising, a substantial and developed market, has seen considerable growth as a result of the COVID-19 pandemic and we expect this trend to continue in the coming years,” Peter Redmond, Chairman of Pires, said.

“We believe that Admix’s novel approach to game advertising at scale positions the company perfectly to benefit from the increased demand in this market. The additional funding and the inclusion of notable industry figures participating in this extended fundraise will no doubt allow Admix to continue its rapid growth path and, as such, we look forward to updating the market with Admix’s progress in due course,” Peter Redmond added.

Continue Reading

Industry News

CT Gaming Interactive Partners with Meridianbet

Niji Narayan

Published

on

CT Gaming Interactive Partners with Meridianbet
Reading Time: < 1 minute

 

Online gaming content and solutions provider CT Gaming Interactive has entered into a deal for launching games with Meridianbet. The deal will see the online casinos under the brand host the CT Gaming Interactive’s games, which include special jackpots.

“I am very pleased and proud that Meridian has selected us as its partner. We are confident that our market-leading portfolio of games will support its strategy to deliver the ultimate player experience to its customers,” Lachezar Petrov, general manager at CT Gaming Interactive, said.

“We continue to expand our customer base and the games launches with Meridian’s well-known sites enable distribution to a new group of players,” Petrov added.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.

Kasynos.Online