Market experts believe that gambling operators are being forced to change their business model due to the increasing focus on ethics in Ireland.
The growing trend of digitalisation of the gambling sector changed the industry, as customers are now able to simply go online and place their bets on various sports or play popular casino games whenever it is convenient for them to do so. Recent technology developments have brought massive growth in revenues and returns but industry analysts say it came at a cost to the most vulnerable individuals. Online gambling has been associated with significant risks as it is considered addictive to a point of causing as much destruction as drugs and alcohol can.
One of the addiction counsellors at Extern Gambling Ireland, Barry Grant, explained some people are gambling multiple hours a day and noted that some operators take advantage of their compulsive habits. This online business model has been under close monitoring and control in the last few months, so the sector is preparing for further changes to be brought.
According to Mr Grant, gambling companies are being forced to change some parts of their business models in order to become fit for the new rules. He said that companies had at least a decade to bring such changes to their operations but they did not do anything about that so far.
Latest Report of Health Research Board Say There Are 12,000 Gambling Addicts in Ireland
As Casino Guardian reported, the application window for the chief executive officer of the Gambling Regulatory Authority (GRA) officially opened, as part of the planned establishment under the country’s new Gambling Regulation Act.
Reportedly, the bill will include various measures aimed at keeping the Irish gambling market under control by imposing some spending limits, suspending VIP schemes, free bets and special bonuses for customers, implementing stricter age-verification measures, banning credit card use and enforcing new rules on gambling advertising in the country. It follows the first report on gambling trends in Ireland that was tabled by the Health Research Board. The latter has estimated that currently there are 12,000 gambling addicts on the territory of Ireland and about 35,000 gamblers at moderate risk of being affected by gambling-related harm.
One of the lead authors of the report provided by the Health Research Board, Dr Deirdre Mongan, said that the ones who are most likely to be at risk of problem gambling and gambling-related harm are usually young men aged from 25 to 34 years, who reside in deprived areas, are not employed and experience other addictions, such as alcohol or drug use or disorder.
The reports that some gambling companies take advantage of customers’ addiction to their services has brought huge damage to their reputation, so operators need to take measures and start paying more attention to ethics and customer protection.
The restrictions that are being brought to the UK gambling industry by the country’s major gambling regulatory body seem to be affecting the situation in Ireland, too. Local authorities have been monitoring the actions taken by the UK gambling watchdog to tackle some gambling issues in the country and have been considering bringing more restrictions to the local gambling market, as well.
- Author
Daniel Williams
