Best Practices in Implementing Responsible Gambling for iGaming Operators

10 Jul Best Practices in Implementing Responsible Gambling for iGaming Operators

Responsible gambling refers to creating a safer and regulated environment for players so that they can enjoy casino games without harming themselves and others. Implementing responsible gambling in the online gaming industry reduces the risk of any harm associated with gambling, like addiction, mental pressure, and debt.

In today’s competitive world of online casino & sports exchange, entertainment alone is not sufficient. Users seek more than that, like a secure, reliable platform where they can play responsibly and secure their winnings and personal information.

The concept of responsible gambling has been lurking in the industry for more than a decade now, even though the principles are not widely seen in many online platforms.

While this approach involves limiting players from gambling, it is for their own sake and can promote a good habit for players and also for operators to develop a stronger brand recognition and engage their audiences in the long term.

The following are the best practices for iGaming operators to ensure responsible gambling:

Addressing Problem Gambling

The series of unethical or unfavourable practices performed by the players leads to problematic gambling. The top indicators in players of problem gambling include playing continuously without breaks, wagering frequent large amounts, chasing losses through constant plays, and even borrowing loans to overcome losses.

On the contrary, responsible gambling ensures operating a business in a safer, more ethical way, and players practice good gambling habits so they can enjoy without falling into addiction. 

Responsible gambling is intended to prevent and overcome these problematic behaviours. And in case these activities are monitored, the platform addresses these issues through monitoring systems and ethical tools.

Preventing Underage Gamblers

Online casino & sportsbook platforms must be inclined to apply special verification systems, like two-factor login systems, to validate the player’s age and authenticity. This includes prioritizing systems like Know Your Customer (KYC), to check the age, ensuring only eligible users get access to their websites. Underage and vulnerable populations are more prone to problem gambling, and protecting them should be the platform’s crucial focus.

By employing strong monitoring and verification systems that could detect excessive wagering habits, operators can identify individuals at risk and incorporate measures to avoid potential harm to the players and the site.

Promoting Safer Gambling Practices

Most certified online casinos use an RNG system in the game. This assures each of the game’s outcomes is fair and random. A system like this can offer transparency in the odds and payouts that the game offers, and the players can feel a sense of transparency throughout their gameplay.

Besides this, features like deposit limits, wagering limits, and self-limiting options can help players to gamble responsibly, preventing any potential threat. Additionally, various resources on problem gambling can help players practice responsible gaming habits and set healthy boundaries.

Use of Various Safer Gambling Tools

Operators must adopt some key measures to ensure safer and responsible gambling, which include:

KYC: 

Players must be encouraged to fill up the KYC forms that involve signing up to the website using their real ID cards, scans of their passports, documents, and phone numbers. This process helps to identify underage gamblers and safeguards players against problem gambling and any possible financial breaches.

Verifying PEP (Politically Exposed Persons): 

Verification of PEP is essential, as these people can have easy access to public funds. While being a PEP does not necessarily mean someone is doing fraudulent activity, they are still considered players with high-risk activities. To prevent money laundering through PEP, operators must strictly regulate monitoring systems to observe these players and prevent legal risks.

Cyberco Gaming has implemented a robust verification system to find suspicious activities related to PEPs and vulnerable populations. This includes automated and manual verification to confirm a PEP status.

Self-Limiting Tools: 

Self-limiting tools in online casinos refer to a feature that lets users limit or ban themselves from gambling for a certain time. Users can request a temporary exclusion from the accounts, or even a permanent one and take a break from gambling activities till they are ready again. It is best for players to protect themselves against problematic gambling and possible addiction.

Player Limits: 

Limits on wagering and payment systems promote good gambling habits. Usually, platforms impose these limits on players’ activities so that they can gamble with a minimum budget and wager with a suitable amount. Often players are seen wagering huge and frequent amounts in order to chase losses or gain more profit. By offering access to the available limiting factor to players, platforms can ensure safer and mindful gaming practices.

Following Safe Gambling Laws and Regulations

Online casinos and sportsbook exchange require licensing to operate the platform successfully and responsibly. These licenses from authorities can help to practice mindful gaming and prevent any potential risks associated. 

Through various gambling commissions like the UK Gambling Commission, operators are urged to implement measures to prevent any compulsive wagering behaviour.

Furthermore, gaming authorities like Malta and Curacao impose tools like self-exclusion, activity monitoring, verification etc to promote sustainable practices.

Conclusion

Responsible Gambling is all about delivering a safe and secure atmosphere of trust to promote a healthy playing routine. Cyberco B2B iGaming software solution offers smarter tools to monitor players’ activities, helping owners to support responsible gaming on their platforms. 

Features like VIP management systems, detailed behaviour tracking and analysis systems, allow operators to monitor any unusual player’s patterns and impose warnings and support systems to overcome the addictive factors. Operators can opt for Cyberco’s solution to build a risk-free and legitimate online platform that players can enjoy.