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The gaming industry remains to be one of the most controversial areas to invest in. While most governments already approve all kinds of gambling including online gaming, some have various restrictions on how business should be conducted including checks and balances on advertising, as well as, campaigns geared towards warning potential gamblers of the risks of involvement. 

The UK and the rest of Europe have been the market leaders in the online gaming industry over the last decade or so, but even they are beginning to tighten the rules in a bid to promote responsible gambling.

In a 2015 article published by the UK Gambling Commission, responsible gambling was described as a set of concepts that try to guide those involved in the gaming industry towards maximizing fun and minimizing harm. In this case, what is considered harmful is the “uncontrolled loss of more money or time than one can reasonably afford, with negative impacts on the individual, family, friends, communities and employers.”

But what exactly is responsible gaming and is it good for the industry?

According to LeoVegas Champs, a job listing platform for the gaming industry, responsible gaming is more about intuition than it is about following a set of rules and regulations. While various regulatory authorities can set up various rules and requirements for gambling companies (e.g. to always have a disclaimer about the risks associated with gambling in every ad they put up), it all comes down to the individual gamblers.

As such, responsible gaming has more to do with the individual than it has with gambling companies. However, while the immediate effects of irresponsible gaming might be felt by gamblers, gambling companies are likely to suffer in the long-run according to Ron Finlay, chief executive of the Senet Group. Senet Group was formed last year by some of the UK’s biggest gaming companies to promote responsible gambling standards

While speaking ahead of this year’s World Regulatory Briefing (WRB) conference on ‘Responsible Gambling & Reputation Management’, scheduled to take place at Altitude in London’s Millbank Tower on September 10, Finlay said that “If [a business] is morally wrong or even questionable, it’s also commercially unsustainable in an age where there’s not only massive scrutiny from governments, the media and the public but also a growing sensitivity from shareholders about ethical investment.”

The conference has been set in a bid to raise awareness about responsible gaming, and among the speakers during the event will include representatives from Ladbrokes (LDBKF) and Gala Coral – which along with William Hill (WIMHF) and Paddy Power (PDYPF) set up the Senet Group.

Irresponsible gambling can lead to increased revenues in the short-term because issues such as addiction can keep gamblers glued to gaming regardless of their win-rates. However, the long-term repercussions could include things like investors pulling off their investments or a slowdown in the number of new customers.

It is common sense that if you see your friend’s health deteriorating because of gambling you would do everything to avoid the gambling industry. In addition, if the level of gambling addiction continues to worsen, then some governments could restrict gambling activities thereby making it difficult for companies to make money from their businesses.

On the side of gambling companies, there has been a lot of criticism over the rise of fixed-odds betting terminals (FOBTs) and intensified marketing activity. As such, companies like William Hill, Ladbrokes, and Paddy Power, among others, have teamed up to raise awareness about responsible gaming.

Conclusion

Responsible gaming may appear to be some kind of a campaign against gambling companies. However, as discussed in this write-up, some of the biggest gambling companies are advocating for it.

They are trying to save the future of the industry, and in doing so, this proves that indeed, responsible gaming is good for the gambling industry.