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Navigating Responsible Gambling Regulations in 2024



Navigating Safer Gambling Regulations in 2024

In light of the transformative impact of online gambling on the entertainment sector, there arises a compelling imperative to practice Safer and Responsible Gambling practices. The dynamic landscape of gambling legislation in the United Kingdom is rapidly evolving, compelling casinos to reassess their operational structures and strategies.


The White Paper

The government of the United Kingdom, through the Gambling Commission, aims to strike a balance between protecting individuals from gambling-related harm and respecting the freedom of adults to engage in a legitimate leisure activity. According to the white paper, an estimated 300,000 people across Great Britain meet the definition of being a ‘problem gambler’. The white paper further discusses significant changes in the gambling landscape since 2005, and aims to update gambling regulations as the impact of technology and data availability on gambling services enables better and more efficient insight into safer gambling practices.


The impact on gambling operators

These changes, aimed to take place in early-to-mid 2024 are foreseen to positively impact Safer Gambling practices while imposing on gambling operators to find a balance between competitive interests and collective responsibility for the well-being of consumers. A direct impact of these changes is on the Gross Gambling Yield, which is expected to decrease between 8% and 14% for online operators, resulting in revenue loss for operators. Gambling operators must further focus on having Safe Gambling Analysts to constantly monitor their consumers gambling habits to ensure compliance with these regulations and in turn avoid hefty sums of fines, or even worse, losing their gambling license altogether.


How can gambling operators effectively navigate the upcoming changes of 2024?

While there are different ways operators need to tackle these changes in the gambling industry, a crucial part of this is having a 24/7 team of safer gambling analysts that monitor changes in a players gambling habits, ensuring that each person stays within their set limits and more importantly within the limits set forth by the Gambling Commission in the United Kingdom. Amidst these changes, our outsourcing capabilities are uniquely positioned to address the evolving demands of the industry. Our services are expressly designed to assist operators in meeting and exceeding the heightened standards set forth by the regulatory landscape. By using the expertise of our qualified analysts that are trained through our partnership with BetKnowMore, casinos can fortify their commitment to responsible gambling, thereby mitigating the risk of regulatory penalties. Furthermore, with our internally-managed teams that are exclusively outsourced in Europe, gambling operators gain an additional benefit compared to other analyst providers that are usually scattered across the world.

 

 

 

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