Gambling Companies Collaborate Safety Measures to Prevent Regulation

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Gambling Companies Collaborate Safety Measures to Prevent Regulation

Several large gambling market participants have agreed that collaborating on better customer support on their platforms is in the interests of everybody.

Companies like Flutter, William Hill, GVC and etc have come to a conclusion that installing systems that would better support gambling addicts is going to be a major move before any crippling regulations can come up in the industry.

Several executives have mentioned that the gambling industry is quite fragile when it comes to additional regulations. For example, when the market is too restricted in terms of betting options and odds, the players resort to the black market which is much more dangerous in terms of chasing out their winnings or having their identities and personal information compromised.

Therefore around five companies will collaborate on introducing treatment measures and facilities for gambling addicts with almost 100 million GBP as a budget. Considering the fact that these five companies together managed to generate 500 million GBP in profits just last year, it’s quite a serious commitment.

Nearly 20% of the profits go to rehabilitation.

Which industries will be most affected?

Considering the fact that most of the companies taking part in the collaboration operate worldwide, it’s definitely going to have a global effect, especially in countries that are plagued with problem gambling.

However, the two countries that will be affected the most will most definitely be the UK and Canada due to their statistics on problem gambling.

For example, the Canadian regulators have constantly been bringing updates to the gambling industry and installing such a collaboration would not only take a load off their chest but also give the companies a larger space for operations.

However, the Canadian casino promotions that the country is notorious for could disappear completely due to the new guidelines.

And the UK may receive a new space for smaller companies to start operating as the government could reverse its taxing laws should the collaboration show good results.

Is it good will or a cash grab?

William Hill has mentioned in the past that some regulations have cost them as much as 700 million pounds in revenue in the past.

Therefore, preventing any further updates in the law would be very beneficial for large companies to maintain steady revenue streams.

And at this point, it becomes hard to criticize them, as even though they’re acting in their own interest, they’re also making something beneficial for the gambling community as well.

Nick comes from the financial services area. He is an expert in currencies and stock trading, yet gambling has always been his passion. At CasinoPlayersReport Nick is overviewing the financial health of listed companies within the iGaming sector, recent regulatory updates, and other major news.

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