The principles of gambling responsibly
21 January 2019
In order to have a safe gambling environment and to minimize the negative consequences of excessive gambling and live by the saying “gamble responsibly”, some principles should be adopted and put to practice by the gambling companies. If applied, these principles offer protection for both players and gambling companies and provide the best service possible in the spirit of fair play. So whether you are wondering how to watch the Grand National next year and discover some good promotions that you can use responsibly, or you’re looking for more information on various types of bets and how to know what you’re doing, keep reading.
First and foremost, all gambling companies should regularly verify whether they are in compliance with all rules, laws, standards, and regulations from various jurisdictions regarding their practice. If a company has a successful compliance plan, that shows its commitment to apply regulatory and legal policies and prevent regulatory violations from happening. This minimizes the risk of being subjected to criminal or regulatory actions and saves the company’s reputation.
Gaming websites should be safe and reliable places for players to have fun in a secure online gambling environment. In order to achieve this, operators are required to implement appropriate mechanisms and controls. Having in mind current scandals related to privacy and personal data protection, players should always access reliable software platforms in order to transfer or withdraw money and make deposits safely. At the same time their personal data, such as names, addresses, and phone numbers, and details regarding finances should be secure and protected from unauthorized access. Any website dealing with financial transactions and e-commerce can be prone to cyber attacks and criminal activities. In order to stop this from affecting their customers, platforms should be equipped with software that detects these activities, blocks and prevents them. They should also have online investigation and monitoring teams which would help prevent fraud and manipulation.
One of the most essential principles of responsible gambling is the prevention of underage gaming. This means that those who have not yet reached the legal age (18 or 21) should not be allowed to gamble for real money. In order to achieve this, gambling companies need to ensure that the age of gamblers is verified through a thorough obligatory registration process so that there are no underage gambling activities on their platforms. Some websites do not allow funds withdrawal unless age verification checks have been passed and the customer has provided documents which show the age. Gambling companies also advise responsible adults to monitor their children’s online activities and prevent them from accessing gambling platforms, which they can also do by installing filtering software on their computers.
Another principle of paramount importance is the protection of vulnerable players. Some customers can become addicted to gaming and betting and start spending too much time and money on these activities, thus affecting their everyday lives. There are ways to identify risky behavior very early and prevent such problems before they occur. One way is to limit the amount of time and money they are allowed to spend on gaming platforms. Some gambling companies offer their customers the option of setting a time limit or financial limits to their accounts (for example a period of twenty-four hours needs to pass in order to make another deposit, or they can be displayed the elapsed time of their sessions, which offers them the opportunity to exit the platform in due time and minimize their losses). Organizations providing support to those who may be addicted to gambling should also be displayed on platforms.