Irish gambling operator Paddy Power has recently issued a statement arguing some claims that the company is focused on establishing its long-term suitability not only because of the “goodness of its heart”.
One of the people who established the gambling operator in the late 1980s – David Power – has now argued that Paddy Power is primarily focused on profitability, saying that guaranteeing the gamblers’ safety is an extremely important part of the company’s plans for success in the longer term. According to him, this is the only way that could guarantee that consumers remain in good mental and financial health so that they can continue choosing betting and gambling as an entertainment option for their pastime over and over again.
Adding value has always been part of Paddy Power’s policy. Over the years, betting has changed the activity of watching sports by engaging with audiences that are unlikely to otherwise appreciate sports competitions. Mr Power, however, is very well aware of what being responsible to consumers means for the business. This is why he noted that establishing long-term sustainability is something that companies that operate in the sector have to get to the bottom of and that it is not always associated purely with “the goodness of one’s heart”.
Paddy Power’s founder also remains optimistic about the future of the industry, as the newest technology has provided gambling operators with the chance to track responsible gambling patterns and spot people showing signs of problem gambling behaviour earlier, preventing them from entering the spiral of gambling addiction.
Global Gambling Sector Continues to Grow, David Power Says
David Power also noted that he remains confident about the future development of the gambling industry, arguing that the entire sector is now subject to growth. The exponential extension, however, would mean that every stakeholder in the market would have to make sure that the technology, expertise, and know-how used by their gambling operator are on point so that the companies are able to oppose any harmful practices that could take place in the sector in the early stages.
The chief executive officer noted that early detection of various issues, including ones associated with problem gambling and gambling-related harm, has been exactly what provides larger companies like Paddy Power with an advantage on the market, as they are able to make sure they remain sustainable in the long term. According to him, the implementation of adequate technology, procedures and processes which can help a company identify people susceptible to gambling harm is crucial, as they could point such customers in the right direction and help them deal with compulsive gambling behaviour they find hard to deal with.
Mr Power’s comments on the situation came at a time when growing gambling addiction rates have been a major concern not only in Ireland and the UK but also around the world, especially at a time when the Cheltenham Festival is already taking place, and the March Madness event in the US is just about to start.
- Author
Olivia Cole
