Are LeoVegas forced deposit limits a step too far? It is a brave move and one that solidifies the PLC’s commitment to safer gambling. (Photo by Mathieu Stern on Unsplash)
It is a remarkably bold and brave move by LeoVegas as one of the world’s most trusted and respected live casinos has already started to place forced deposit limits on some of its players’ casino accounts.
For the time being, the move affects players in the UK and comes as part of the current safer gambling week. The optional deposit limit facility is also still available. Therefore, if the player feels LeoVegas has not been restrictive enough, players still have control to limit themselves further.
Optional deposit limit settings also still function in the same way as always for other countries such as India, Canada, New Zealand, and Ireland can also use optional deposit limit tools, so nothing has changed here.
The LeoVegas live casino and online casino is managed under UK financial and business laws via LeoVegas Gaming PLC, which is floated on the NASDAQ Stockholm. As ‘Public Limited Company’ and a UKGC licensed live dealer casino, the management at the company feel that it needs to move forward with a measure to dissuade its members from developing problem gambling habits.
With a deposit limit fixed on player accounts, there are several ways this action will protect LeoVegas members from the darker sides of gambling. This includes, but is not limited to, preventing them from chasing their losses, preventing players from using LeoVegas to gamble above normal amounts, and hopefully harnessing a few more happy clients who eventually realise the ban did them a favour after a cooling-off period.
It is this kind of dedication to its players and the lack of fear of possibly annoying some that don’t like to be restricted that has made LeoVegas an award-winning live casino. This year alone, the brand added multiple awards to an already impressive collection. The casino regained its International Gaming Awards – Online Gaming Operator of the year award this year and retained its Global Gaming Awards titles for being the Best Casino Operator – the casino has picked up the last 4 consecutive years.
Safe Gambling Tools: You can check the best live casinos online here, where you’ll find that LeoVegas is available in India, Canada, New Zealand, and Ireland. Even though the Individual deposit limit does not apply to these countries, LeoVegas has excellent, responsible gambling software. You can set your own deposit limits daily, weekly, or monthly + you can set stake/table limits, ban yourself from playing real money games via a self-exclusion tool, and there is a reality check so you keep track of time players, winnings, losses, and more.
LeoVegas Press Released its New Safer Gambling & Affordability Checks
The press release on the LeoVegas public ‘Investor Relations’ page is one that has the company has very publicly made available. The same page also contains information that overs Leo Vegas third quarter 2021 results, the prospectus and applies for admission to trading of bonds on the NASDAQ Stockholm, and information about licensing, entrances into new markets, and more.
Now, for some shareholders in the casino business, placing forced deposits on players is not good for business, but in the grander scheme of things, LeoVegas is like any other company and must show compassion and corporate social responsibility.
- How does LeoVegas decide on limits? Being a ‘Public Limited Company’ floated on a financial stock market, the brand has access to certain information. This is highly secured third-party financial data that contains the same records made available to financial firms that show ‘credit scores’ and use a proprietary risk prediction model so they can decide whether to give credit. LeoVegas can use that credit rating to determine forced deposit limits.
- Are deposit limits set only from credit scores? On top of this, LeoVegas ties this system in with AI tech that detects user/player behaviour. The software has already been in place for some time and detects players that deposit often after several losses, extended periods of time playing when losing versus when winning, and more helpful data is collated and compared to problem gambling statistics. This also helps to determine the pre-set deposit limit.
Want to know more about LeoVegas? Check out our LeoVegas live casino review for the complete lowdown on the live dealer games and brands the casino has to offer. The casino accepts players from India, Canada, New Zealand, Ireland, and the UK, has some excellent bonus deals, and you have access to Evolution, Pragmatic Play Live, and Playtech Live dealer tables and game shows!