Responsible gaming has come to the forefront of the iGaming industry as more and more operators realize the importance of creating a safe and responsible playing environment for their customers.
In September 2022, several major companies came together to recommend and pledge to a 12-point list of industry standards. Martin Lycka, the Entain Senior Vice-president for American Regulatory Affairs and Responsible Gambling, said, “These principles mark an important milestone in the commitment to responsible gaming in the rapidly growing U.S. markets, as responsibility sits at the heart of our business.”
Another likely reason for the spotlight on responsible gaming practices in 2022 was the increase in scrutiny of numerous online and land-based casinos and gambling operators, resulting in record penalties, warnings, and even gambling-license suspensions. The total of financial penalties issued was $128,913,840, a 166% increase from the previous year. Media outlets have been critical of the gambling industry, and it is certain that more regulations will be implemented in 2023 in order to protect consumers.
Companies are now investing in responsible gaming initiatives, such as implementing new responsible gaming policies, offering self-exclusion options, and educating players about the risks of gaming. These initiatives help ensure that players are playing in a safe and secure environment, and that they are aware of the risks associated with gaming. This is a positive step forward for the industry, as responsible gaming will help to ensure that players are playing responsibly and that operators are being transparent and accountable.