OKBET Casino: Panel discusses how data can be used to promote safer gambling

OKBET Casino discus how data can be used to promote safer online gambling

Dealing with and curtailing problem gambling continues to be one of the most crucial and difficult issues facing the gaming business today.

The Gambling Commission in Great Britain announced that the country’s total problem gambling rate for the year ending June 2021 was 0.4%.

However, according to its own statistics from 2016, the number of problem gamblers in the UK might reach 340,000.

As a result of the pandemic, countries have concentrated on enacting stricter regulations. Sweden, for example, introduced steps to restrict online gambling, including a SEK 5,000 ($573.13) weekly deposit cap for online casino players that will continue until November.

While the Dutch online gambling market opened on October 1 with strong procedures in place for safer gambling.

Industry experts on safer gaming recently discussed the connection between KPIs and problem gambling during a discussion at the SBC Summit Barcelona. Key performance indicators, or KPIs, are essential for businesses assessing their performance to assess the overall effectiveness of how they operate.

The necessity of using data to track consumer behavior and prevent them from developing serious gambling problems was a major subject of discussion. Simon Vincze, manager of OKBet Casino Legit’s responsible gaming projects, thinks that the solution to treating problem gambling is data management.

Vincze declared: “Data management is the way of the future for treating compulsive gambling. The issue is what you do with the data as an operator.

Data is, in my opinion, a really major concern when it comes to responsible gambling, and you have all kinds of software and algorithms that can in some way draw inferences and patterns about the players.”

The key is how they respond to the data since, “You have certain standards and rules regarding what you have to do to prevent problem gambling, but behind closed doors, there could be realistic business discussions.”

“Consider sending a player a notification based on statistics that they are spending more than usual, which could indicate they have patterns of problem gambling.

They may assume they have no problems with gambling and that the messages are just bothersome, in which case they continue to play despite the very small impact this may have on them.”

Although there may be chances to use data for a greater good, Vincze noted that there is a narrow line that operators must tread in order to protect user privacy.

Added him: “Is it effective to interject or is it effective to influence what the player can see in his casino and limit his spending options without the player realizing it?

Or is it the complete opposite? And it is a really difficult question that relates to how much access to your data you want a firm to have and how you want them to manipulate it, whether for your benefit or harm.”

Ben Davies, Betknowmore’s Head of Safer Gambling and Partnerships, thinks that having more human interaction instead of just checking boxes can help cope with safer gambling.

Davies remarked: “With safer gaming, we need to get past just checking boxes and put more of an emphasis on the individual. When we discuss KPIs, we discuss figures, set goals, and make an effort to achieve them.

If we focus only on a single figure when discussing safer gaming, there is a significant risk that once we accomplish the KPI of a specific number of interactions and people an operator assists, there may be a tendency to stop and feel as though we have completed our task.”

“We require a broader perspective to consider each person individually and ensure that each consumer receives what they require.

While it will be challenging to establish a KPI when this number changes daily, there must be some flexibility to act in the customer’s best interests and treat them with respect. One KPI that we should likely concentrate on is having that understanding and empathy with the customer and acting in the proper manner.”

In order to use data to assist protect players, according to Paul Foster, president of the Gibraltar Betting & Gaming Association, there needs to be a universal code of conduct.

As Foster said: “Because the internet gaming sector is still very young—22 or 23 years old—and because there aren’t any mature regulations in place for it, there aren’t any either. While there isn’t likely a chance to have a central regulation, there is a chance to have a common code of conduct that every company in the world can sign up to, giving us access to shared data and a single consumer view.

We must move in that direction, and I believe both the regulators and the operators can set the course. If we are to truly protect our players from danger, everyone must join forces and implement the change.”