Stay up to date. Would you like to be notified about latest gambling news and updates?
Allow
Home Gambling Industry SBC Summit Barcelona: It's Time to Think About Affordability

SBC Summit Barcelona: It's Time to Think About Affordability

EVENTS 30 Sep 2022
4 min. read

sbc-barcelona-2022-workshop-photo

SBC Summit Barcelona 2022 was a conference and exhibition that gathered the global sports betting and iGaming leaders to discuss the future of the global industry. One of the interesting events Casino Guru News had the chance to attend was "Affordability in a new era." The Panel speakers included the Responsible Gambling Council's CEO, Shelley White, as well as Warren Russell, the Founder and CEO of W2. What's more, Matthew Hickey, the CEO of Gordon Moody Association as well as Šimon Vincze, Casino Guru's Sustainable & Safer Gambling Lead were among the speakers on the panel. Matt Smith, Betknowmore's Head of External Affairs served as the Moderator of the panel.

The panel discussed how the cost of living continues to rise and what impact it may have when combined with the economic difficulties brought by the global COVID-19 pandemic. Additionally, the event sought to determine if the time has come for operators to step up and introduce tougher affordability checks. Last but not least, the discussion sought to answer how operators can implement affordability checks without intruding too much.

Affordability was identified as a key factor in the iGaming industry. However, the recent discussion revealed that mental health, as well as vulnerability, are also significantly important factors for the industry. Citing research, RGC's CEO, Shelley White, revealed that understanding who is vulnerable is of key importance for the industry.

During the discussion, she explained that it is known that certain groups can be more vulnerable than others. Such groups identified as vulnerable are youth, young adults, and ethnocultural population – South and East Asians, White pointed out. On the other hand, she pointed out that people with a history of addictions, as well as health conditions, are identified as vulnerable. Last but not least, representatives of the indigenous populations around the globe are also identified as more vulnerable, according to White.

Here, Hickey added that based on research, vulnerable people are rarely looking for help when encountering gambling harm. Instead, he revealed that it is often representatives from the "white middle class" that seek help when it comes to problem gambling. Hickey stressed that it is a serious issue that people identified as vulnerable are not participating in treatments or asking for support.

Shelley-White-and-Šimon-Vincze

According to Hickey, finding the appropriate solutions will help affordability reach a new era. He explained that understanding the behavior of players and what their motivation is, plays a key role. Moreover, Hickey pointed out that education has a pivotal role in the process. Using all available technology, including AI, as well as machine learning will ultimately elevate the affordability and transform it into a new era, Hickey explained. Last but not least, he acknowledged that sensible and proactive legislation is always better and can bring positive results than legislation led as an "iron first."

Another topic discussed during the panel was the importance of business-to-business and business-to-customer collaboration. White pointed out that B2B collaboration with local governments, regulators, legislators, operators as well as game designers is needed. At the same time, she pointed out that B2C collaborations also play a vital role when it comes to affordability.

Focusing on the future of affordability, the panel revealed that there's still work to be done.Hickey outlined that research is expected to be commissioned to determine the impact of affordability on the industry. The research will likely predict the possible future of the ecosystem. At the same time, shareholders will discuss what is the expected impact in the future and this is when the real changes will likely start.

White added that the industry will need to better understand the impact of the global economy on players' behavior. This, according to her can help clear the picture and outline the appropriate course of action.

Casino Guru's Sustainable & Safer Gambling Lead, Šimon Vincze, added that affordability within the industry should not be underlooked. Moreover, he pointed out that the industry needs to better understand affordability.


Image credit: Casino Guru News

30 Sep 2022
4 min. read
Comments
Nobody has commented on this article yet. Be the first one to leave a comment.