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Gambling can be a fun and exciting way for people to spend their time, but it can also be dangerous for vulnerable customers.
These already financially stressed individuals can easily get in over their heads and end up in a lot more debt.
That’s why it’s important that operators identify vulnerable customers and offer ways for people to gamble more responsibly.
In this blog post, Data On Demand will explore six ways to help customers who are financially vulnerable gamble more responsibly.
Safer Gambling Week is a cross-industry initiative to promote safer gambling in the United Kingdom and Ireland.
Safer Gambling Week runs from 17-23 October 22. This is an annual awareness campaign to help promote safer gambling practices, reduce gambling related harm and protect vulernable customers. There are a variety of ways you can get involved and help make this year’s Safer Gambling Week a success.
The advice from Safer Gambling Week is:
Decide how long you want to play for and stick to it. Do the same for your spending limit. Did you know 400,000 deposit limits are set every month!
Gambling is never a way to make money. You may get lucky now and again but vulnerable customers and people in debt should not be tempted to gamble with money they need for things like rent and bills. Only ever stake what you can comfortably afford to lose!
It’s good to take a break. Step away, tap out and pause before you play. Take time to think.
Friends and family are more important than gambling. Spend time with your friends and family doing other things you enjoy. And, if you are a vulnerable customer and you are ever tempted to hide or lie about your gambling, consider talking it through with one of the gambling helplines.
There are a number of ways to identify customers who may be at risk of harm from gambling.
(i) One way is to look at their patterns of play. If they are gambling more frequently or for longer periods of time than they used to, this could be a sign that they are developing a problem.
(ii) Another way to identify at-risk customers is to look for changes in their behaviour. If they are starting to miss work or other commitments in order to gamble, this is a red flag.
(iii) If customers are borrowing money to fund their gambling, this is a major warning sign that they are in danger of developing a gambling addiction.
(iv) Using third party-data: Third-party data enables operators to perform enhanced vulnerability checks to identify the most vulnerable customers.
IDVU from Data On Demand identifies customers who are using high-cost, short term credit to finance everyday expenses.
These customers are financially stressed and are using alternative credit to pay for things like consolidating debt, rent/mortgages, household bills and emergency expenses.
These customers cannot afford to lose more money as this will put them further into debt and cause harm.
Gambling operators can use the data from IDVU to add to their existing vulnerable customer strategies to identify those most at risk of harm and take action.
Data On Demand have presented to Flutter at their Head Office in Leeds, to inform them about the benefits of IDVU.
You can also find out more about the benefits of including Data On Demand’s vulnerable customer data in your strategy, in our blog ‘No More Bets Please’ where we talk about excluding vulnerable customers from marketing.
All licensed gambling operators, including remote operators, offer ways to help customers keep track of the time and money they are spending gambling.
This enables vulnerable customers to limit the amount they can spend.
Find out more on the Safer Gambling Week website HERE.
Vulnerable customers who are spending too much time and/or money gambling can use self-exclusion as an effective tool to help them regain control.
Vulnerable customers can self-exclude from gambling.
Find out more on the Safer Gambling Week website HERE.
People have struggled with gambling or just want to remove the temptation can block access to gambling websites. This helps vulnerable customers avoid using gambling as a way to solve their financial problems to gamble to get out of debt.
Find out more on the Safer Gambling Week website HERE.
Vulnerable customers who would prefer not to see gambling content and advertising, can take steps to limit their exposure.
Find out more on the Safer Gambling Week website HERE.
Most major banks now offer the ability allow vulnerable customers to limit their spending on gambling.
Consumers experiencing financial stress or who are in debt, and concerned they are spending too much on gambling, can block gambling transactions with their bank.
Find out more on the Safer Gambling Week website HERE.
To find out how Data on Demand can help you identify more vulnerable customers email us at hello@www.dataondemand.co.uk
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