Financial Guard Rail ? - page 2. | Bitcointalksearch.org

davis196

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Quote from: sunsilk on December 08, 2021, 09:55:15 AM

This is good for those that cannot control themselves. There's now a tracker if they're still fine gambling according to their budget and limit that has been set by that app.

There's now some solutions that are being put to those that cannot control their spending habits with gambling. If this goes on and becomes effective, expect that there will be another project and company that will do the same product.

If a gambler cannot mentally control himself,no app in the world is going to help him to control his gambling.
I wonder what's the business model of Draftduel.How are they going to make money by limiting the amount of money,that were spent by the gamblers?Are they going to charge a fee for using this app?Are they going to use affiliate links to promote chosen casinos?
It seems to me that this app is focused only on the fiat gambling industry,where the players are using debit and credit cards.The crypto gambling industry is left behind.
Anyway,I wish them good luck with this project.

iv4n

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Quote from: fiulpro on December 07, 2021, 11:14:15 AM

They would be analyzing the whole spending, keeping track of the players, spendings / change/ savings, then generate data that the player can use at the end of the day and that would mean that users can not only put preexisting debit cards or credit cards but that app would monitor it and give them a value that they can spend guilt free.

I guess some people need an app to tell them how much money they have available and how much they can spend guilt-free! Apps can make everything easy and simple, why bother to think about it, write it down and do the math when the app can do everything for you? I am sure some people will use this app, but it's not for me... I will do it my way, as always!

madnessteat

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Quote from: worle1bm on December 09, 2021, 01:30:57 AM

^

I'm pretty sure I don't need this service, but for people who don't have enough willpower this service can help. Although on the other hand people always tend to look for workarounds when they have a problem, so I think that sooner or later they will just get an extra credit card to spend money on as before.

worle1bm

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Quote from: Slow death on December 08, 2021, 08:00:19 AM

I get worried about this kind of thing, the person works or earns their money sweaty, we all know that money doesn't fall from the sky, to earn money we have to work a lot so it wouldn't be more sensible than the person who was in a situation of excessive spending would be to seek help from a manager or psychologist if it were the case of the addiction, but at least that person would still be managing their own money and would not have all their privacy exposed

Right if we are earning money with hard work we must the know the value of the same and don't need to spend it unnecessarily on gambling.Like if you are playing in limits for entertainment then it is fine but if you are going in sentiments and loose control over your mind that is surely bad and the reality is society needs such services because they can't control themselves and these services make profits out of your pocket only so why not control yourself.

avikz

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Well, this is not a new invention. In my Country, ICICI Bank has a similar facility to track and analyze your spending. But what Draftfuel is doing, has an gambling context to it. I remember, this kind of facility, proved very useful during my initial days of employment when my salary was low and I used to stay in a different city than my native.

But this kind of facility can only make you aware about your own finances. It doesn't put a hold on your spending. Novice gamblers need something that will block their gambling transactions after a certain limit.

Doell

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I'm yes ! that's have a good concept for "new gamblers" can overcome addiction in general ,but the concept will not make someone who is heavily addicted to using their platform ,because the freedom to have fun is governed by an application
gambling is not as easy as shopping in a shop market with credit card limited ! for example if I lose in a gamble so that it reaches the limit but I'm sure the next bet I'll definitely win ! how do I recover my loss on that last bet because of that limited ?should I go home and mourn my losses and debts ?

michellee

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Quote from: Lucasgabd on December 08, 2021, 11:58:41 AM

Quote from: michellee on December 08, 2021, 08:31:09 AM

As long as that prepaid card has a limitation for depositing, I think that can work well for the gamblers so they can not deposit more once they reach their limit for a month. It is a good idea to have that prepaid card, but a gambler can buy that prepaid card many times, especially if they reach their limit to continue playing gambling. That sounds does not tackle problem gambling, but it still faces that problem unless a gambler realizes that the real problem is limiting themselves when playing gambling.

people will always find ways to avoid limitations and do what they want

they could limit prepaid cards as one per person, but some people would be able to buy cards from others who don't want to use them

in the end we need to develop awareness and presence, this is the main way to help people who are addicted to gambling, making them realize addiction is a problem and that they would have a better life if seeking for help.
not only by limiting top-up balance.

That is why if the government or the company does not use a strict rule to limit the gamblers, that will be useless because, as you said, people will always find ways to avoid limitations. They can use their relatives, friends, or even their family to buy prepaid cards, which means they will continue playing gambling.

The important is how the government can develop awareness for those who often play gambling that the card is helpful to limit their time or deposit their money for playing gambling. But if they do not have that, it will not work at all. The card will help them to prevent addiction to gambling.

harizen

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Quote from: fiulpro on December 07, 2021, 11:14:15 AM

What do you think about such innovation?
https://www.gamblinginsider.com/news/14138/payments-start-up-draftfuel-reveals-financial-guardrails-to-encourage-responsible-gambling

Even the whole concept and purpose are good, I think it violates the whole point of doing gambling and is against their freedom. Responsible gambling always starts with the gambler themselves and no need for such actions that will monitor them or control their activity.

Since it's a new innovation, I can't say if it will be successful or will yield a good result in the long run.

Let's allow first to make it happen in actual and wait for the results.

Fortify

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Quote from: fiulpro on December 07, 2021, 11:14:15 AM

A very interesting concept by Draftfuel and Discover, which I would like to discuss here:

Fine tech startup Draftfuel apparently launched an app and prepaid card product to tackle problem gambling, especially against the novice, the first time gamblers.

They are going to set up financial guardrails for the new players which means that :

They would be analyzing the whole spending, keeping track of the players, spendings / change/ savings, then generate data that the player can use at the end of the day and that would mean that users can not only put preexisting debit cards or credit cards but that app would monitor it and give them a value that they can spend guilt free.

What do you think about such innovation?
https://www.gamblinginsider.com/news/14138/payments-start-up-draftfuel-reveals-financial-guardrails-to-encourage-responsible-gambling

While it is a wonderful idea, it seems to fail from the outset and I'm not sure how successful it will be really. Let's imagine it is targeting gamblers who think that they have a problem - those people are broadly going to fit into two categories, people who know they have a problem and will happily chase it or people who have enough self control to identify they've got a problem, in which case they'd know that abstinence is the correct path for them and no amount of budgeting applications will change that reality. If someone is self aware enough to identify that they need to manage their money sensibly, they're likely waking up to the fact that gambling can be a huge drain on finances and could easily manage from that point without this weird setup that doesn't restrict anything in reality.

uneng

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Isn't this the same as signing an incapacity/disability certificate? When the person transfers the responsability for his own life to a third party service that is what it looks like. But in some cases I must say it can be necessary, especially if the individual doesn't have a trustful close familiar or relative who could help him with his gambling addiction issues and financial management.
On the other hand, I think everyone should do the maximum possible effort to avoid needing to rely in such services, just like someone should do his best to not get dependant on medicines or any other stuff which removes responsabilities from daily life or disconnect the person from reality.

Sterbens

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Simply put, what we have until now is like a prepaid card that has been subject to an entry limit. The same is true of what the program has planned. Maybe it's not something new anymore, where we live, this limitation has become a reference so that the government knows the limits of the financial value contained in a credit card. Well, it's not much different from the restrictions on flowing funds in gambling. Therefore, gamblers who are latent and their seniors divide everything into several balance holders that are only controlled by one or two certain people.

Silberman

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Quote from: fiulpro on December 07, 2021, 11:14:15 AM

A very interesting concept by Draftfuel and Discover, which I would like to discuss here:

Fine tech startup Draftfuel apparently launched an app and prepaid card product to tackle problem gambling, especially against the novice, the first time gamblers.

They are going to set up financial guardrails for the new players which means that :

They would be analyzing the whole spending, keeping track of the players, spendings / change/ savings, then generate data that the player can use at the end of the day and that would mean that users can not only put preexisting debit cards or credit cards but that app would monitor it and give them a value that they can spend guilt free.

What do you think about such innovation?
https://www.gamblinginsider.com/news/14138/payments-start-up-draftfuel-reveals-financial-guardrails-to-encourage-responsible-gambling

Without a doubt it is an interesting innovation and as the article states I think it is better suited for the people that are just starting to gamble and want to do it responsibly, I say this because someone that is sufficiently motivated to gamble their money is going to find a way around the restrictions this app offers, this is why the most effective way to deal with any problem of compulsive gambling is to realize what you are doing by yourself and then adjust your behavior, if this is done by an external source then sooner or later the person will like to be free from those restrictions and they will go back to their old ways.

Lucasgabd

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There's no need to be upset

Quote from: michellee on December 08, 2021, 08:31:09 AM

As long as that prepaid card has a limitation for depositing, I think that can work well for the gamblers so they can not deposit more once they reach their limit for a month. It is a good idea to have that prepaid card, but a gambler can buy that prepaid card many times, especially if they reach their limit to continue playing gambling. That sounds does not tackle problem gambling, but it still faces that problem unless a gambler realizes that the real problem is limiting themselves when playing gambling.

people will always find ways to avoid limitations and do what they want

they could limit prepaid cards as one per person, but some people would be able to buy cards from others who don't want to use them

in the end we need to develop awareness and presence, this is the main way to help people who are addicted to gambling, making them realize addiction is a problem and that they would have a better life if seeking for help.
not only by limiting top-up balance.

fiulpro

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Quote from: Hydrogen on December 08, 2021, 07:25:22 AM

Our culture encourages people to amass huge amounts of debt on their credit card. Take on mountains of debt and loans to afford post compulsory education. Pay higher taxes, to run up bigger piles of national debt. As a result of our large appetite for debt, a huge segment of the population lacks more than $500 in savings.

In the midst of these massive spending and debt trends, we have proposals for a... "financial guard rail". (Are you serious? Is this a joke? Better late than never I guess?)

Personally, I think circumstances have deteriorated too far for programs like this to have much of an impact. There could eventually be a counterculture movement whereby people identify negative aspects of debt. And seek to adjust their behavior and lifestyle patterns to be a little more financially responsible. The concept of a "financial guard rail" appears somewhat alien to common trends set by modern day society. Which on a fundamental level, would make me want to question it.

In developing countries people generally pay a lot of interest as well, even though you might be a student, you won't be able to get a student loan, you would have to go to the third parties definitely and then pay minimum 10%. The government is not even a bit kind in developed countries. They generally choose their student loans in a different way, they might have 0% but the tuition fee would be *3 times minimum. Look at uk.

Therefore when we talk about gambling, it becomes a bit too serious, it's never a good idea to gamble without thinking. I have seen some of my friends in debt for ages or some using money so inconsistently that they have immediate loans on credit cards and also no savings at all. Therefore I do think that, this app might help some people addicted to it. But then again it's something that you can do manually are well, it's all about your thinking and your will power, but might be a good addition as well.

Wexnident

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I don't take loans, ask for sig if I ever do.

So instead of trying to stop the gambler from gambling, they instead put out the amount of money that they can freely gamble after subtracting everything that they possibly would need and spend + some emergency fees? That's pretty good imo. It's pretty much a general-purpose calculation that you can use in most of the finances that you would want to spend for yourself. It basically took away all the pain in the ass stuff and just gave you what you actually need lmao.

sunsilk

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This is good for those that cannot control themselves. There's now a tracker if they're still fine gambling according to their budget and limit that has been set by that app.

There's now some solutions that are being put to those that cannot control their spending habits with gambling. If this goes on and becomes effective, expect that there will be another project and company that will do the same product.

michellee

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🐺Spinarium.com🐺 - iGaming casino

As long as that prepaid card has a limitation for depositing, I think that can work well for the gamblers so they can not deposit more once they reach their limit for a month. It is a good idea to have that prepaid card, but a gambler can buy that prepaid card many times, especially if they reach their limit to continue playing gambling. That sounds does not tackle problem gambling, but it still faces that problem unless a gambler realizes that the real problem is limiting themselves when playing gambling.

Slow death

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I get worried about this kind of thing, the person works or earns their money sweaty, we all know that money doesn't fall from the sky, to earn money we have to work a lot so it wouldn't be more sensible than the person who was in a situation of excessive spending would be to seek help from a manager or psychologist if it were the case of the addiction, but at least that person would still be managing their own money and would not have all their privacy exposed

Hydrogen

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Our culture encourages people to amass huge amounts of debt on their credit card. Take on mountains of debt and loans to afford post compulsory education. Pay higher taxes, to run up bigger piles of national debt. As a result of our large appetite for debt, a huge segment of the population lacks more than $500 in savings.

In the midst of these massive spending and debt trends, we have proposals for a... "financial guard rail". (Are you serious? Is this a joke? Better late than never I guess?)

Personally, I think circumstances have deteriorated too far for programs like this to have much of an impact. There could eventually be a counterculture movement whereby people identify negative aspects of debt. And seek to adjust their behavior and lifestyle patterns to be a little more financially responsible. The concept of a "financial guard rail" appears somewhat alien to common trends set by modern day society. Which on a fundamental level, would make me want to question it.

fiulpro

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Activity: 1862

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A very interesting concept by Draftfuel and Discover, which I would like to discuss here:

Fine tech startup Draftfuel apparently launched an app and prepaid card product to tackle problem gambling, especially against the novice, the first time gamblers.

They are going to set up financial guardrails for the new players which means that :

They would be analyzing the whole spending, keeping track of the players, spendings / change/ savings, then generate data that the player can use at the end of the day and that would mean that users can not only put preexisting debit cards or credit cards but that app would monitor it and give them a value that they can spend guilt free.

What do you think about such innovation?
https://www.gamblinginsider.com/news/14138/payments-start-up-draftfuel-reveals-financial-guardrails-to-encourage-responsible-gambling

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