The UK Gambling Commission has unveiled the results of a recent study aimed at gathering more information about local consumers’ use of and opinions on different payment methods. The research, which was held online and involved 314 gamblers who had wagered in a casino or other type of retail gambling venue in the past 12 months, has shown that British gamblers remain cautious of cashless gambling technologies.
The survey found that 79% of British bettors believe they will have better control over the risk associated with gambling if they use cash. They also believe that using cash for gambling transactions gives them better privacy. Furthermore, 85% of the people who took part in the survey and had played at a land-based casino over the past year shared that cashless payments make players bet more than they intended.
The survey respondents who like to gamble in a retail venue but still use cashless payments said that they made their choice due to security reasons, and also because it is quicker and easier to make a cashless transaction. Some of them also explained that cashless payments help them limit contact in the environment after the Covid-19 crisis. According to the results of the research, it was younger gamblers, gamblers at moderate risk and gambling addicts who preferred making cashless payments.
The UKGC unveiled the results of the survey at a time when cashless payment methods are becoming increasingly popular all over the world. Three years ago, debit cards became the primary payment source in the UK, and during the coronavirus pandemic, they accounted for over 50% of the payments processed in the country.
Cashless Payments May Result in Problem Gambling and Compulsive Gambling Behaviour
One of the most important aspects of the Gambling Commission’s research was getting more information about the disadvantages of cashless gambling. The results of the survey, however, also showed that cashless payment technology has some benefits.
The UKGC shared that even though there have been some concerns that cashless payments may result in reckless gambling behaviour and problem gambling, an app that would provide British players with the chance to track their betting habits on one hand, and would help gambling operators monitor the time and money spent by players on their services, on the other hand, could actually help individuals who are considered at risk. The report of the gambling regulatory body said that such an app could be available in addition to, not instead of the regular cash payments in order to keep players protected.
About 22% of the survey respondents said that they would like a cashless gaming application and would have no objections for operators to have access to such data. Almost half of the respondents (45%), however, said they would not support such an application. The remaining one-third of the survey respondents said they would like an app but only in case gambling companies are not given access to the data.
- Author
Daniel Williams
