Obstacles to online gambling and how to overcome them
Earlier this year, YouGov, a UK market research and data analysis company, investigated the barriers that prevent people from gambling online. The results provide insight into the attitudes and habits of those who gamble and those who don’t.
Although the results of the study are specific to a UK audience, it is possible to speculate that they could reflect attitudes elsewhere. In addition, some ideas for overcoming these obstacles could be implemented effectively in any jurisdiction.
The odds are stacked against them
When asked why they hadn’t gambled in the past year, 48% of respondents said it was because they didn’t trust gambling sites. Specifically, 27% said they thought the odds were stacked against them, and 21% said they didn’t think they could or would “win big”.
It is a fact that in the game the odds are stacked in favor of the house. But, there are rules in place to give players a chance to win and win big. The main collateral in place is random number generators or algorithms that are proven to be fair. Any reputable licensing authority will require one of these to be in place when you launch a gaming platform.
An RNG is a system where numbers are generated randomly. These numbers are sequential and should not be able to be reasonably predicted by chance. They are used in all online games of chance and mean that the player has a fair chance of winning, based on the legal parameters of the odds. Licensing authorities require that these RNGs be certified by a third party. They can also perform random spot checks to make sure they are fair.
Provably fair is an algorithm that can be analyzed by an external third party and by the player to ensure that the games, bets and results related to his activity are fair. The results of the algorithm are recorded on the blockchain, which means they are immutable and cannot be tampered with.
If players understand that the fairness of a site is managed by such technology, certified and supervised, they will likely be more confident. They should also only play with licensed sites where it is clear that an RNG or a system of proven fairness is used.
The game is immoral
Whether gambling is immoral is an important and controversial question. 11% of respondents said it was immoral, but only 8% said it was against their beliefs. This means that one party thinks it is not moral, based on opinions and not on cultural or religious issues.
Not only are licensed sites necessary to ensure that the games are fair, but they must also take care of their players. Many jurisdictions require operators to have comprehensive responsible gambling policies in place. This includes ensuring that those under the age of 18 do not use the site to gamble. Others are needed to implement self-exclusion policies and take action to prevent problem gambling.
Alerts, bans and limits, proper onboarding, activity monitoring, ethical advertising, and posting or providing details about the organization of gambling addiction are just a few of the ways that operators can operate ethically.
Concerns about overspending
About 10% of those surveyed said they were worried about overspending. Another 9% feared becoming addicted and 5% said they did not trust each other. These are valid concerns for players, but there are ways to help them.
Recently the UK has stopped people from paying to gamble with credit cards. Similar plans are in the works in other jurisdictions, and some operators have already taken the initiative not to allow payment on credit. It is a way to monitor players, restore confidence and increase credibility as an operator.
Additionally, providing information about problem gambling, how to get help, and providing an alert system for deposits and wagers can help players gain more confidence in the service you provide.
Almost 10% of potential players said they did not trust operators or processing companies with their card details. Despite the proliferation of online shopping and the standardization of online card use, concerns and doubts remain. The key to providing customers with a safe online gaming experience is to take safety seriously. This includes offering SSL encryption, making it public, and taking other steps to protect it.
In terms of payment methods, you should offer them several options, including cards, popular and respected payment processors, and even cryptocurrencies. If a potential customer sees that they can pay with well-known payment processors and providers, they will feel more secure. Likewise, if you offer payments through digital wallets, they can use a familiar platform to transact which further increases security.
A staggering 32% of respondents said they had no specific reason not to gamble online. This means that about a third are essentially neutral and have not formed negative opinions. This means that they are ripe for responsible and ethical marketing.
Most of the negative perceptions of players come from the bad behavior of a handful of operators. This reinforces how important it is for operators to follow the rules and get a license. Failure to do so will ultimately impact the industry and the industry’s future profitability. When setting up or operating an online gaming site, it is always important to partner with a business service provider who shares your values.