Online gamblers face the same concerns that in-house gamers experience in trying to gamble responsibly. Online casinos are meeting this challenge through the introduction of new and novel strategies that combine with traditional methods so that gamers can play real money games in a worry-free environment of fun, excitement and real money prizes.
Gambling Concerns
Archaeologists and anthropologists have found evidence that demonstrates that gambling has taken place in every era and in every culture throughout history. Hunter-gatherers gambled arrows and other basic implements tens of thousands of years ago. By the time people began to amass wealth in the Paleolithic period, gambling began to proliferate. Six-sided dice have been found in Mesopotamia that date back to about 3000 B.C.E. but those dice were based on earlier gaming tools.
- Gambling was a part of daily life in ancient civilizations, including in Egypt, Babylon, Rome, and Greece. Even then, community leaders were raising concerns about individuals’ lack of control over their bets.
- Ancient Indian texts Mahaabhaarata and the Rig Veda, reference the devastation that gambling can bring into one's personal, family, and social life.
- The Jewish Talmud identifies two distinct problems with gambling: its underworld image and its exploitative nature.
- Buddhist sutras strictly prohibit gambling because, the sutras say, it often leads to depression and bankruptcy.
Yet all forms of gambling – from sports betting and neighborhood pick-up poker games to Vegas casinos and online casino real money no deposit platforms – continues to be one of the most popular forms of entertainment worldwide. Gaming for real money is fun. It’s a social activity and a way to test one’s luck.
The gaming industry is, by and large, aware of its responsibility to curb gambling addictions and problem gambling behaviors and has, in recent years, developed new strategies that combine with traditional methods to meet the challenge of promoting responsible gambling.
Concerns
One of the biggest concerns that gaming operators must face is the issue of addictive behaviors. Casinos agree that there needs to be an open and honest discussion of the negative effects that casinos can have on some people. Uppermost among those concerns is the issue of problem gambling which refers to maladaptive gambling behavior that disrupts personal, family, or vocational pursuits.
The easy accessibility to casinos, both land-based and online, and the rapid pace of some games can trigger compulsive behavior in susceptible individuals. Additionally, some players find themselves unable to stay within a pre-determined budget which means that they continue to play – and to wager – even when the funds for those wages come from money that should be going towards household expenses.
The economic impact of problem gambling extends beyond individual losses. It strains social services and increases the burden on public resources. Casinos have been taking a more active leading role in trying to find solutions to these problems, including new strategies that help gamers stay within their budgets for gambling and other entertainment expenses.
The Grande Vegas online casino is proud to take a leading role in promoting responsible gambling in the online casino industry. Some of these new strategies to promote responsible gambling include:P
- Regulation and enforcement – Grande Vegas promotes the strengthening of regulation and enforcement standards that protect both the casinos and their customers. This can be accomplished by encouraging jurisdictions to review and update their gambling laws and regulations on a regular basis so that they keep pace with technological advancements (i.e. cryptocurrency usage). This model would involve clarifying definitions that are, currently, unclear, increasing penalties for violations and expanding the scope of regulated activities.
- Licensing Requirements – Gambling operators should be required to undergo rigorous background checks. The background checks should be expanded to encompass all casino personnel. Licenses should be given only to operators who provide detailed business plans, financial projections and internal controls.
- Special Licenses – separate licenses should be required to be acquired by casinos that commit to anti-money laundering and responsible gambling practices.
- Data-Driven Regulation – Regulators should use data analytics that identify emerging risks and that can identify patterns of suspicious activity and measure the effectiveness of regulatory interventions. To achieve this, casinos should be required to submit comprehensive data on player behavior, transactions and compliance efforts.
- Risk-Based Regulation – Some areas are riskier than others. If regulatory resources focus on these areas (i.e. problem gambling, illegal activities and money laundering) it will allow for more targeted enforcement efforts and a more efficient allocation of resources.
- Clear Guidelines and Standards – Guidelines and standards relating to compliance requirements for casinos should be clear and unambiguous. These requirements should set out standards for internal controls and reporting procedures clearly. By reducing ambiguity, casinos will be better able to understand and fulfill their obligations.
Enforcement Mechanisms
Grande Vegas and other top online casinos report that they are seeing positive changes that allow them to better meet the needs of their customers regarding problem gambling behaviors. In the coming months and years, they hope to see jurisdictions increase resources so that regulatory bodies have sufficient funding, staffing and expertise to efficiently monitor and enforce regulations. Regulators are urged to conduct more frequent audits and inspections and implement robust guidelines for compliance.
Advanced technology will give a boost to regulators who monitor the casinos and to casinos who monitor their customers. These types of technology include data analysis tools, surveillance systems and Artificial Intelligence.
By increasing and strengthening collaboration between international gambling regulators and gambling operators, both sides will be better able to play their part in reducing instances of problem gambling behaviors.
