In many LatAm countries, there is still no adequate comprehensive regulation of online gambling and sports betting. This leaves the players and their data in a vulnerable situation, being able to suffer from theft and fraud to the freezing of their accounts or even the disappearance of the chosen bookmaker.
If we look at the regulated markets of North America, the United Kingdom and the rest of Europe, we see that there are technologies that gaming can use to improve that situation of defenselessness. As a Data Scientist for BetBuddy, a Playtech company, one of the world’s leading gaming software development companies, Sanjoy Sarkar has experience operating in thirty regulated markets worldwide. Thus, this specialist shares that experience by raising five ways in which technology can help protect players, both physically and mentally, as well as their data, the impact of time and their finances.
1) Perform regular testing and analysis to ensure safety
Online gambling has existed since 1994, long before Google or Facebook, for example. However, it was only in 2007 that they came under regulation, but in very few countries. Since then, more and more markets have decided to monitor the online gambling segment in order to put measures in place to protect consumers and their data. Privacy and security have become a major concern for all industries in the last 10-15 years and almost all countries now have strict laws to ensure that consumer data is not exploited or breached. In a regulated environment, all licensed companies must adhere to data protection laws, as well as specific gambling requirements. To ensure compliance with these standards, licensed companies must go through a rigorous auditing process, conducted by internationally recognized testing laboratories. This process thoroughly analyzes the source code of each and every game program, as well as the organizational practices of the company. This is known as the certification process and it takes place periodically, in most cases annually. Only companies that obtain certification can legally offer their services to clients.
2) Establish continuous players’ surveillance to reduce cases of fraud and theft
Security testing of solutions and production environments, as well as regular vulnerability scans, are carried out by serious and independent providers and operators. All accredited gaming entities will also have strong internal policies, including employee security training. Likewise, clients must be watched for the safety of others. Electronic identification helps ensure that the person connecting is who he/her says he/she is, while other possibilities exist, such as multi-factor authentication, device fingerprinting, and a configurable password policy. Technology solutions can detect abusive and fraudulent behavior using advanced data analytics, so continuous monitoring of login activities and device switching is also common. However, while there should be strict requirements to protect against fraud and cyberattacks, it is not always necessary to add layers of complexity when the above mentioned solutions exist.
3) Research to guide policy
Although some key industry players have announced commitments on responsible gaming, continued collaboration is still lacking. Higher standards should be the norm, which should also mean increased funding and investment for research and trials, which can help guide current debates and provide crucial insights, especially when the gaming industry is capable of collecting relevant data in real environments. Similarly, they should carry out initiatives focused on responsible gambling using state-of-the-art algorithmic approaches and raising standards. This should happen even with a variety of stakeholders, such as people with lived experience, the financial industry, software developers, debt counseling organizations, academia, and rehabilitation centers. Widely sharing credible results will also help ensure that regulations are developed on the basis of evidence, making them more efficient and helping to meet the objectives of the gambling regulatory framework. Transparency is crucial and this approach recognizes the risk factors in the sector while proactively seeking to minimize damage.
4) Develop data analysis to quickly identify problematic players
Early investments aimed at preventing the development of problem gambling, especially in newly regulated markets, are invaluable, inhibiting some players from overspending or even stopping them altogether. Using data analytics, operators can pre-identify risk players and reach them with specialized and trained personnel. While this would be complemented by automated tools that enable customer engagement, research has shown that personalized, real-time customer communications are much more effective than generic email campaigns. Local operators should never consider responsible gaming and player protection as a simple issue of compliance. They also shouldn’t think that comply with regulations will derive in regulators taking harsh measures to enforce them. Responsible gaming should be part of internal discussions, along with compliance and innovation. It is also important to be clear about the new regulations and leave enough time to adjust to these requirements.
5) Include device lockout services to allow self-exclusion
Finally, there are a number of device blocking services available, such as Gamban and Gamstop, that allow people to prevent their mobile phone, computer and/or tablet from being used to access online gambling sites. These free, cross-platform self-exclusion tools block user access to regulated, legally accessible online operators for periods ranging from six months to five years. According to research conducted for GambleAware, Gamban has been shown to be 99% effective in blocking access to gaming websites and applications. This technology clearly makes the gaming sector safer and should therefore be part of the regulatory framework of any country.