According to market experts, gambling operators in Ireland are now being compelled to modify their business model as a result of increased focus on ethics in the country.
The gambling industry has not been left out on the impact of the current growing digitalization trend, especially as customers can now bet on their favourite sports or play famous casino games online and from their comfort zone. These players find it convenient to do these things online and yet enjoy an amazing gaming experience.
These recent technological advancements have not only been beneficial to players but also operators in the gambling industry, as they are recording massive revenue growth and returns. However, according to industry analysts, the growth and perks did not come at a free cost, especially to the most vulnerable individuals.
Industry analysts have associated online gambling with significant risks as they also consider it addictive, just like alcohol and drugs can be addictive. This was also confirmed by results from a recent survey carried out by the Health Research Board.
Comments from Barry Grant
Barry Grant, an addiction counsellor at Extern Gambling Ireland, explained that some players gamble multiple hours a day. He also noted that unfortunately, some of the gambling operators take advantage of these gamblers’ compulsive habits to make gains for themselves. Rather than protect these compulsive gamblers, some gambling operators do not make effort to stop them from gambling so that they can keep playing and enriching the operator. Barry noted that the regulatory body has been closely monitoring and controlling this online business model in the last few months, even as the sector prepares for further changes to be introduced.
According to Barry, gambling firms are now being compelled to change some aspects of their business models to make themselves fit for the newly introduced rules. In his last remarks, the counselor pointed out that the gambling firms had at least 10 years to make changes to their operations, but they refused to.
Health Research Board Latest Reports States That Ireland Has 12,000 Gambling Addicts
According to reports from Casino Guardian, the application window for the GRA (Gambling Regulatory Authority) has officially opened. This opening is part of the proposed establishment under Ireland’s new Gambling Regulation Act. The reports further state that the planned bill will include several measures targeted at keeping the gambling market in Ireland in check by suspending special bonuses, free bets, and VIP schemes for customers, by imposing stricter age-verification measures, enforcing some spending limits, and implementing new gambling advertising rules in Ireland.
This development is in line with Ireland’s first report on gambling trends proposed by the Health Research Board. The board estimated that there are currently 12,000 gambling addicts in Ireland, while about 35,000 gamblers are at moderate risk of getting addicted to gambling.
According to Deirdre Mongan, one of the lead authors of the Health Research Board report stated that young men between the age of 25 to 34 who live in deprived areas and are unemployed have the highest risk of gambling-related harm and problem gambling. Deirdre also noted that those who experience other addictions like drug or alcohol disorder or use.
Reputations of some gambling operators have been put in jeopardy since the report emerged that some of them exploit gambler’s addiction to boost their service. Thus, the operators have to start paying more rapid attention to customer protection and ethics and also take active measures on them.
Ireland casinos seems to be affected by the restrictions imposed on the United Kingdom gambling industry by the major gambling regulatory body in the UK. Local authorities in Ireland have been closely monitoring the actions taken by the United Kingdom Gambling Commission in tackling some gambling problems in the country. They have also been considering bringing further restrictions to the local gambling market.