Topic: Income statement: can it be used to mitigate huge losses due to addiction. (Read 445 times)

it gives their users free will they are basically saying that since they have warned them it is up to them what they do with their products or services

i think a warning is also what the casinos can do at most and they are putting the entire responsibility on to their clients it gives enough freedom but also make sure that they will not compromise their profit i mean we all know everyone just ignores those warnings

Income statement:
First of all letst understand what is the income statement is "An income statement, also known as a profit and loss (P&L) statement, is a financial report that shows a company's revenue, expenses, and profitability over a specific period of time" - https://www.investopedia.com/terms/i/incomestatement.asp

can it be used to mitigate huge losses due to addiction. The answer probably yes but since gambling have 50.50 chance I believe the P&L for most user is at negative result unless after winning big the amount of your withdraw is greater than the amount of your deposit and never touch gambling again

I don't thinks that the gambling companies wants to deter the growing rate of gambling addiction among online gamblers. Their focus is to make a big profit from gambling industry and not thinks about other things such as gambling addiction. Well, they can thinks about doing charity for some of their profit but not with gambling addiction among online gamblers. They consider every gamblers knows the risks of playing gambling and gamblers have their responsibilities when playing gambling.

Online casino serves for income statement of every gamblers in their account so gamblers and casino can see how much money they already use and how much money they wins. But that will not be a reason for online casino to deter their members from playing gambling in their site. After all, online casino already gives the options to excluded gamblers from playing gambling for some time so gamblers must use this if they realizes they becomes gambling addiction. That can prevents gamblers from keeps playing gambling and reduce their gambling activity so they can solve their gambling addiction.

When you say decrease the gambling rate, I think that sounds that a gambler will now stop gambling permanently, but I think having an income statement doesn't do that to them, instead it might only help them to be a responsible gambler. Casinos have it already because they can show our losses and wins when we go to our stat page, but if we want to, we can also record a separate one. I prefer this because I think I can customize it freely and then I can be able to access it easily.

This sounds harsh. Sure they want to earn money because they are still a business after all but they don't say what you are saying in public. They still care about their customers in fact. One proof is them having an income statement. Another would be, is they have a warning sign about gambling. That is only two but there are still more to that.

What do you mean by Authority here? Do the gambling sites themselves analysis this data or do they hand it over to some "authority" who will determine the gambling limits for individual gambler?

No one would want their gambling data to be given to any third party for analysis. Secondly the gambling sites won't care much about how much money a gambler is losing over the time as the money lost by the gambler is a profit for a casino. Yeah, the gambling sites may be concerned on how much money a gambler has won over a period of time.

I think it is the responsibility of the gambler to impose such restrictions on himself as how much he can gamble daily or weekly. Others won't do this task for them especially when it directly contradicts their interest.

You are correct. This is what OP posted about. Which is not possible because gambling sites see themselves as competitors and will not have anything to do with each other. Only what could make this happen are the regulators but we can see how the gambling regulations have been so far which is not in favour of this but not about this at all but more in favour of paying taxes. If there is any regulation like this, most gambling sites will not be happy about it at all.

No that's not what the op is about, with what I understand about the topic. The op is about how gambling sites can work together with the regulators through the use of KYC to regulate what gamblers can spend on gambling using their income statement as a determinant.

Thoughtfully, no casino would want to implement this because it's bad business for them. It will impact negatively on their profits. Even let say the casinos would want to comply, some addicted gamblers would find ways to maneuver the process since there are many casinos they can gamble with.

It won't in any way help eradicate gambling addiction, in fact, it won't even reduce the number of gamblers in the first place, and this is because today, we have several great decentralized casinos that are completely non kyc complaint, that is, this casinos don't require gamblers to pass any kyc verification, the gambler can just connect their wallet to the smart contract and viola, they can playing their favorite game and betting any amount of money they want.

If government should implement such rule as you have stated, it only will help push more and much more gamblers into playing on decentralized casinos, as I personally believe that no very many online gamblers have income statement in tbt first place.

I think I agree with what you said for this, because it will only deplete the freedom of gamblers to spend money as we wish, but maybe it will also have a good impact if the government knows how much money is spent by the public in gambling so that they can make gambling play fair and help a little not to gamble addictively, the report is very useful.

But so far I don't know the government's actions regarding the reduction of addiction through casinos, I also don't know how the government controls it with casinos I think they don't care how much gambling addicts spend in casinos, they only care about the taxes that the government has set on casinos to benefit the country, they also don't care how hard we work to earn money, I don't think they care that much to suppress addiction that may arise in the community.

The OP suggestion is different because it gives moderation already to the players unlike cigarettes ads that only show bad effects which doesn’t limit directly all the users to use cigarettes.

Implementing this suggestion will surely decrease the gambling activity of players since they don’t have a choice rather than to follow the limit which is given to them. This method is a good solution but I wonder if casino will do this to lessen their profit from players.

Gambling is specifically for 18+, and it is assumed that any kid that is up to or above the age of 18 is no longer a kid but can take some valid decisions for themselves, even in the aspect of financial decision-making. What you are suggesting cannot be enforced because the casino owners don't even care about that. The casino owners want their customers to gamble continuously with a lot of money because they will definitely end up losing more than the profit they will make. The authorities don't also give a fuck about this because they don't compel anyone to gamble. For the sake of freedom, this law cannot be enforced. 

Does anyone care about online casinos that they will think about heavily addicted users? I don't think so, the addiction still has to be self-aware then the casino won't do anything.

The problem now is that KYC is only needed if there are constraints about financial issues of cheating maybe the so-called large withdrawals, prohibited IP and many more cases while for profit loss reports of addicted users the casino will not identify more details even they don't care.

I don't think something like that would happen or be allowed to happen in any Western country which already has an important gambling market, to be honest.
People who are consider themselves to be dedicated gamblers and casual gamblers do not like to have the use of their money limited or seized by authorities, and there is a good reason for it. People work very hard to keep their income and have some of spare money to buy whatever they want, so within the perception of personal freedom is fair to assume each one of us is supposed to be free to spend as we like, as long as we are not doing any harm to anyone else.

It would be the equivalent of limiting smokers on how much they can smoke, we all know such measure could help to improve health in general, but it would set a bad precedent on liberty and  the role of the state and our income. Everyone has the "right" to smoke or gamble within the capacity of their pockets, right?

I doubt that any casino is worried about the gambling addiction of its players. Yes, sometimes it can freeze accounts, but this happens at the request of the players themselves. This means that the person himself is interested in stopping the games, but not the casino: the more players, the more successful the business. And agreeing to such conditions is like cutting off your profitable hand.

I don't think this has a big effect, even though there are some casinos that require customers to fulfill the KYC provided by the casino, of course they will fulfill it because what they want is victory even though it is difficult to obtain, also sometimes there are casinos that at the beginning of registration they do not provide KYC requirements but when the customer manages to get a big win and withdraw it and then there the casino provides KYC which must be fulfilled by the customer as a condition for being able to withdraw the winnings, of course the customer will do it, there is no way the customer will just leave his winnings right?
In addition, the number of casinos currently in circulation certainly does not reduce the chances of those who want to gamble, even if they are lazy about KYC matters, I think what they will do is look for other casinos that do not provide requirements to fulfill KYC, when someone already wants to gamble it is unlikely that they can stop if they cannot control themselves properly, especially with those who have the thought that they can win at gambling.

With this increasing level of addiction, I doubt that the existence of KYC can reduce the level of addiction, there is a compulsion that pushes themselves to meet KYC requirements like this and makes them not easily switch their minds with gambling that they already want to do, besides that with the current development that is increasing this makes it easy for them to access many casinos and look for casinos that do not provide KYC requirements.

It can really help to decrease the gambling rate. But I hardly think that any casinos will be in support of this. The main motive of casinos is to increase the gambling bets in their casino and wants people to lose money; hence, why will they support something like this, which will decrease their profits? If also the government forces to apply this, then the casinos will allow multiple accounts from the gamblers and will advise them to deposit in another account if the other accounts get limited. But yes, it can really reduce the gambling rate addiction if implemented in a proper, transparent manner.

Gambling companies can not stops people from gambling addiction. If people can not avoids that they will becomes addicted to gambling. People needs to know how to use gambling properly as an entertainment so they will not gets addicted to gambling. If people know that playing gambling can cause to be gambling addicted, they will not trying to gambling too often and will manage their time and money.

Casino only asks for KYC verification but to avoids gambling addiction will be people's responsibility because they comes to casino to playing gambling. They must know how to playing gambling moderately and only use gambling for have fun. That will helps them to prevents addicted to gambling.

Too much work. I don't think they will agree with it. Online gambling sites only want us to gamble and regarding "Gambling responsibly" that's on us.

Well, they did make some features where we could limit ourselves so that we won't be betting more.
Here is what Stake.com has.
https://stake.com/responsible-gambling/gambling-limits


You could use that setting so that you won't be gambling excessively and whenever you lose the amount you input there will be a cooldown before you can add more or even if you change it, there's a cooldown again.
It's there because your suggestion might not work out as it also poses a threat to privacy. The statement of income is not something you will just share with anyone so it's better if your privacy is intact.

I also don't think many will agree with that condition just to avoid gambling addiction. KYC is already a hard decision for them, what more with an important file.

That will never work because this measure is not attacking the underlying problem, since what is stopping an addicted gambler to use different casinos to gamble all their money away?

And even if the unrealistic proposal of some people I have seen online became true, in which casinos shared the information of all their clients, especially the ones with gambling issues, then that person will gamble offline their money anyway, so this will not be anywhere enough to stop an addicted gambler to lose all their money.

Questions are, would the gamblers be willing to show their income statement? Also would all gambling site be taking the initiative to do so? 'coz it would mean lower income on their end if they will limit the amount gamblers would be engaging to their platform. Yes I do understand that this would make gambling industry "healthier" but adjustments should be done by players and not the platforms simply because they are literally just minding their business. It is us gamblers who should be responsible of our betting habits. We should be establishing the initiative and discipline to ourselves given that it is us who would be prone to gambling addiction and not the providers. Yes it would be appreciated if platforms would do so but just a bit unfair on their end, I guess, or at least for me.

I highly doubt it would happen. Businesses at the end of the day aim to profit and no way in hell would they let the govt infringe on that specific right of theirs. At least from what I see now, no way they would.

But lets assume it would. 100% it would limit users but I reckon there'd be illegal casinos on the rise that wouldn't have those limits and gamblers would simply switch over. A playground without limits is a lot better than another that has one after all.

And then there's the issue with income statements not being accurate at times.

Income statements on gambling sites make sense. But there's a sizeable portion of people that earn outside of their income statement.
Earning income that you don't put on your tax statement is legal in most jurisdictions. For example maybe one year you have a yard sale, this income doesn't necessarily have to be declared because it's just goods being exchanged between individuals in small quantities in a one time event. It would be a huge time waste to declare this both for the state and the citizen.

Other small business processionals get lots of undeclared income by offering serviced to their friends and family. They give a good price and in exchange get paid in cash only. Also many labourers work with cash only to avoid paperwork and just declare a small portion of their income every once in a while when they take a big job. Generally there's lots of undeclared income to go around.

So where are all these people going to go? Should they drastically cut down their gambling or just start declaring all their income? Of this was implemented then many more people would start gambling in crypto I think

KYC or an abbreviation for know your customer, is a way in which companies can identify who their gamblers are as well as ascertain their financial capabilities. In other words, having this knowledge enables them to tailor realistic and sensible limits that would be appropriate on each individual based on his or her financial capability.

Also through KYC, companies will be able to monitor what gamblers are doing and easily spot any risky behavior while gambling. When such signs are noted (for example addiction), companies may choose whether action involves warnings provided or resources availed towards help or finally limiting the gambler’s access through the account.

Though there are individuals who are averse to the KYC process due to privacy concerns, its benefits in shielding gamblers from falling into addiction and huge financial losses are quite significant. Only those gambling companies that exhibit responsibility while being mindful of their social impact can contribute towards fostering a safer and sustainable gambling environment; hence, despite challenges in adoption (such as KYC and profit/loss reports) need for implementation is seen to have good impact on fighting gambling addiction.

You're right, this is the same case with cigarette addicts, but despite a lot of appeals and surveys on how harmful cigarettes are and some embedding of images of the effects of smoking, it won't diminish anything because addiction will make anyone forget about the negative effects that will occur.

---

And about the income statement explained by the OP, it cannot be a benchmark to reduce losses due to gambling, just like the simulation about cigarettes earlier.
Those who gamble will continue to play and those who become addicts will remain the same and even more aggressive without appealing to the income statement.

Profit and loss statements will also not be available on private Online Casinos because some of the Online casinos are not officially registered, and it may also depend on the regulations of each government.

But maybe with the Profit and Loss simulation recorded by yourself as a reminder, maybe it will be an important note.
Records every transaction that occurs such as Deposits, Any bets on Matches or on the type of games played in such casinos and also records for each withdrawal.

So it can be seen from the records made in several periods, whether there are more profits or even more losses.
It will be a guideline and measure whether someone is addicted or not with a manual record of profit and loss made for themselves.

Despite how companies that produce cigarette publicize the negative side of their products, we have not seen any survey record saying numbers of smokers have reduced because of the fear of lungs disease etc. So if gambling companies or casinos release records of how much gambler bet from time to time, it won't matter anything. Even if they are limited on how much to bet on or deposit, they could bypass the system or open other accounts. The point therefore is that you can not really guide gamblers from not gambling to their satisfaction but you can earn them of such negative impacts on TOS and addiction is one of such effect. Casinos have such information in there terms and conditions and I think that is enough for a responsible gambler.

The same way people are able to manipulate KYC documents for verification, invade tax even in a strong system, and do all manner of things just not to be affected by whatever the government wants to limit them on, that's the same way they will look for a way to manipulate that income document and make it look real in order for them to increase their daily limit that the casino can permit them to deposit in a day or week.

It will never be implemented at all, rules like that will actually cause more and more illegal casinos to emerge and all gamblers affected by those rules will definitely stop playing in legal casinos anymore = legal casinos revenues will decrease = taxes will decrease.
Even many legal casinos will close their business, because their players are allowed to win and withdraw as much as they can/no limit, but the deposit from their players limited by that rules.
That idea is not to eradicate the gambling addiction but to eradicate the online casinos.

When a gambler willingly hands over his income statement to a casino he basically gives them the keys to the kingdom in how much they can legally take from him & all they have to do is crunch a few numbers and viola they know exactly what this guy is worth to them. Its kind of wild honestly, no doubt this is how finance managers in casinos see these KYC regulatory requirements of providing an income statement with wild swing gamblers. Maybe they are actually using it as more of a tool and its more of a positive thing for them instead of a burden.

Gambling addiction cannot be eradicated by anyone. We are not living in a Utopian society. What I think we need to understand about this is that there will always be reckless and irresponsible gamblers. Having mentioned this, requesting for an income statement is not a great idea. What about entrepreneurs. Even aside this, this is like spying on the individual and lack of freedom. Personally, I don't like it. What casinos can do if they don't already do it is to monitor the accounts of their users and place like a restriction if they notice that a player who used to bet $100 on a game suddenly starts betting >$500 or >$1000.

even if the casino try to implement this, gamblers are still goin to falsify the actual thing and try to get the best of limit for them to be able to gamble on higher stakes beyond their incomes so its look like its not goin to be a really good idea as to it working out really perfect but i know that there are limits for the amount you can use over a specific time gambling. some sites have made provision for such but all you have to do is to turn it on and custom it to your discretion but most gamblers don't bother to use it.

except for gamblers who wants the restriction so they can be bale to keep their gambling in check but then it turns out that only a few are really goin to keep to such and so it doesn't eventually work out really well as they end up not been able to get all of that fixed because they feel they will be restricted already before they get lucky to win.

Have you check on (Stake) ?

They have these option on their gambling responsible, a few good list on there:
- Gambling Limit (Lose, win, waggering)
- Budget Calculator (with your income, etc)

Mostly casino only have self exclusion, but stake put these 2 on their site. Feel free to tried check on there: https://stake.ac/responsible-gambling/

Casino love to get you addicted, whether you like it or not that's the fact. Even though they advise you in writing to control yourself in gambling, in reality they don't care and just want to see you bet more. The profit and loss report is not something that can be provided in detail, meaning that no matter how big the loss, as long as the casino is profitable, the gambler cannot limit himself. Moreover, gambling addiction is outside the jurisdiction of casinos, they will not deal with things that are outside the rules. Addiction is a risk for everyone who decides to bet consciously and does so without coercion.

It should not be implemented or practised. It is discrimination against casinos, and gamblers should not be discriminated too; gamblers should be free to play for as long as they want and for the money they want to play.

Casinos are entertainment portals. You never discriminate against people who want to enjoy the game, and casinos are profit-driven. If this is implemented, it will shut down small casinos.

The casinos do not have that in their main interest and it will be difficult to realize that every casino to call for source of income as that would lead like you say in going down for many people the reckless lost amounts of money for the simple reason that most people do not like to share their source of income.Sure some of them may do and I also think this can be a good idea relatively speaking for people who kept losing all of their money yet I think in the long term this is not doable at all for the simple reason that casinos are here to make profit and as long as something hinders their profit they will find a way to avoid it,even if it is forced by the governments,there are a lot of workarounds to many laws put in place by governments and online casinos are no exception,they can find a way.

Certainly it is. It will even add more gambling addicts in the process particularly for those big income earners as they will be more attracted to hit maximum of their gambling limit, when they can only spend on gambling on the amount they are comfortable of losing. Gambler’s individual freedom would be quite deprived and  for sure, gamblers won’t like it.

However, it could be helpful at some point most especially in limiting their losses but will also prevent big winnings knowing their betting amount is only limited. It could bring some advantages to the gamblers but it will also threaten the casinos future profits, so most likely they will certainly oppose or break this rule in order for their profits not to be compromised.

I don't see why casinos would do something like that when this would directly reduce their revenue and no business would want that happen. And I don't think something like that would reduce gambling addiction because someone who gets addicted to gambling would always find a way to gamble more if they aren't satisfied. What will stop a person from utilizing multiple platforms and spending more money that way?

A person can only prevent themselves from getting addicted to gambling if they practice responsible gambling from the beginning. A gambler cannot be reckless with their money when gambling and expect the casino to take necessary steps to save them from getting addicted because it's not their responsibility to do so. They can and will only warn you, the rest is on you.

So, I don't think this can reduce gambling addiction and gamblers wouldn't like to do that anyway.

It will be easier for awareness to be raised on the dangers of gambling addiction and the importance of responsible spending than to force it on people, because if you try to force people to change, they will only move to find out alternatives or other means to bypass the restrictions.

Note that some gamblers who are addicted are not just to online games and casinos, There are addicted gamblers who play in physical casinos uncontrollably. 

If online casinos and gambling platforms start making it difficult for some people to have the freedom to gamble as they wish and make decisions for themselves, many of these people who currently patronize these online casinos and betting platforms will shift their focus to the physical casinos and other betting places where there is no requirement for KYC or income statements of any kind.

What makes you so sure that it will help eradicate gambling addiction? Gamblers want satisfaction, and they will not be satisfied being limited; this will make casinos lose money because their profit will rely on the gamblers' income.

Gamblers should enjoy playing at the money they are comfortable playing. If they want to play with 50% of their income, then so be it; not all gamblers are the same when it comes to allocation, if casinos restrict then they will go to other casinos or even go underground; the present is ok there is no need for more restriction

           -    We can't take that away from other gamblers that if they don't want to have KYC implemented in a casino because they are a regulated casino business, and then it's the gambler's choice if they don't want KYC, there's no problem, and they know that's ours too.

And for me, it's okay to have KYC, and it can be said that a casino is even safer when it's regulated because we have chances to catch up if ever there is an issue or problem with the casino platform.

FYI, casinos will have deposit and withdrawal logs of their users but it doesn't mean they have access to their income and it's probably in the hands of Banks only if the person is getting paid via banking weekly/monthly.

But this is too much to ask even for people who is okay with KYC and it is not going to be effective either regarding the control of addiction the right way is to educate and create awareness to the people or else there is no way we can eradicate any kind of addiction from the society.

This is already in effect in some jurisdictions, i have heard that if you constantly deposit a certain range of funds in some online casinos, i.e $50, and all of a sudden, one day you deposit $50,000, the casino will require you provide an income statement to be sure you can actually afford that or if you are trying to go bankrupt, it happens in some jurisdictions, but i am sure it is not a lot.

The only problem i can identify with this is kyc, so many people don't like kyc and it is right that they don't, other than kyc, it will save a lot of people from going bankrupt through gambling and gambling addiction.

I'm not sure I follow? You want the regulators to come up with a new fee, that they force gambling companies to collect, in order for the gambling companies to be able to make vast profits? The gambling companies hate KYC and would rather it be done away with altogether, they don't want regulatory authorities to come up with any extra barriers to earning more money. For all their talk about encouraging sensible gambling, let's face it - they want to take as much money as possible from anyone who has the means to deposit it and would rather not ask any questions unless needed. Gambling companies would happily absorb any processing costs for vetting KYC documents because that is not where they make any money.

Do you think casinos will do that? It will limit their profit, and gamblers will hate doing that because their level of enjoyment depends on the limitations imposed based on their statement of income.

Because of the restriction, there is no longer freedom to gamble, and there is no longer enjoyment; the casino will cease to be an entertainment portal if it tells one of its players that he can gamble only at a specified amount.
The casino has features for gamblers to use to control their game, and there is no need to impose this income statement thing.

First of all, Gambling company is not the who solves gambling addiction because they are the one benefiting on it financially speaking. They can easily just apply this limits long time ago if their goal is to decrease gambling addiction yet they just introduce responsible gambling terms to guide users on how to gamble properly.

Government is the one that should imposing this to the casino through license provider. The only problem with online casino was gambler can create multiple account on different casino just to bypass this limit so it’s a total nonsense law to apply online.

They can, but OP's suggestion about an income statement is not being used to limit people from gambling. I think proper education about the risks of gambling should be pushed more, so gamblers will not gamble beyond their limits. Instead, they'll just gamble to enjoy and focus on more important things in their aim to make money. It's wiser to believe that we can't win in gambling, rather than thinking we can be someone who could break the system. Although it's not impossible, it's too risky, especially for those who lack control over their emotions.


Because that is  gonna kill their income too.

There’s no way a casino will do this because it will affect badly their income if gamblers will be limited on what they can play. Some country started to implement limits on players but this is not globally adopted since Casino business will be heavily affected which means government will have less taxes from them.

I think this is a good solution for country with severe gambling addiction that affects already the society. I remember UK or Australia are pioneer country who wants to imposed gambling limits to its citizens.

I doubt online crypto casino will follow this law anytime soon.

There were some actions taken by some governments but in a way that it is not effective. Like on some gambling sites, the gambling site would ask you to select the maximum amount that you can afford to deposit for a month. But if you have deposited up to the amount and lost it all while gambling on the complain site, the gambling site will not allow you to deposit more money but you can go and edit it after 24 hours that you set it and increase the amount and you will be able to deposit more. So we can still say that you are correct about this.

Which makes the government not to care. The regulations are towards generating more taxes but no concern about how people are losing.

Most gambling sites requires KYC now. But with KYC, this is not still possible because of how gambling sites are.

This is true.

I have shared this many times on the forum, and I agree with this. There are too many laws and rules, and everyone is still breaking them... Instead of working on education, and showing how to control some urges that we all have, the state prefers to control people and implement various types of restrictions. Let me add that they also have a baton for all those who are disobedient.

I simply do not want someone to control and limit me in any way, I think that every normal person knows their limits and possibilities. So I avoid KYC whenever I can, I know that nowadays "privacy" and "freedom" is almost impossible, but I still want to have them as much as I can.

going through KYC alone can feel like your privacy is being violated already, and if it has become a requirement that you have to provide an income statement, I feel like a lot of people would further feel violated. I am certain a lot of people would disagree with this.

anyway, gamblers could simply just create another account on another casino if they reach the maximum amount they can deposit on the casino they were previously gambling on.

I have used the method of calculating my profits and losses in gambling, I do the calculation once every three months, but it's all just a means of calculating, for now I really can't stop gambling, let alone sports betting with my favorite club.

You can calculate profits and losses, but it doesn't guarantee you can stop being addicted, even though the calculation of expenses is greater than profits, that's the world of gambling, you are really hypnotized to continue playing, The fact is that wins can be counted on one hand and losses cannot be counted again, believe it or not, just try it, conclusion: profits and losses are not a factor for someone to overcome gambling addiction or reduce losses.

Example:
You can find those who are addicted to the lottery, ask them, generally they calculate profits and losses, the fact is they don't care about losses, the lottery continues to be placed, they are aware of losses, but who cares about that.

Today I saw a post where a person writes that in the UK there is a similar regulation and when a person wants to deposit a large amount of money in the form of a bet, he needs to prove that he can afford it and his income corresponds to his desires.
Yes, I think that in general this will have a positive effect, especially for people who lose control of themselves and try to win back a loss. For such people, this rule is very necessary, because in this way they can be protected from spending money that they cannot afford to spend, be it money that needs to be paid for bills, for renting an apartment or for loans.

Many casino already ask to submit KYC, but there's no action either the government or the casino to limit or exclude the gambling addict, so even the casino will ask every gambler to verify their account, I doubt they will take care with those addicts.

Both casino and government are making money from the gamblers losses, casino will earn money from the loss and the government will earn since the casino need to pay tax.

It won’t it will only help gambler look for more creative ways to bypass it - and if they are not able to they’ll look for a different gambling site where they’ll have more freedom, I can’t even imagine any government telling their citizens not to spend more than this percent of their money in a certain service, it doesn’t sound smart to me.

To be honest, the casino doesn’t need any bank statements to realized that a user is addicted- if they truly want to get rid of addiction or help reduced the amount of addiction victim then they can simply just monitor their customers activities and limit those that have been gambling excessively (whether they are losing or winning) that way it will help them calm down and realize their problems. The idea of using bank statements should be taken off the list of means to curb gambling addiction.

Like you read my mind on this that made me to use the word consciously in my op about gambling companies taking it into action even after knowing it will affect their profit rate with the implementation. Casinos shouldn't focus only on how they maximize profits from gamblers with the exponential growth of gambling addicts it's high time they also demonstrate they care about their customers' and not only by the statements they flag on their platform about gambling responsibly. They should also play a supportive role in gambler's gambling responsibly.

This is not fun anymore. I understand the concern, but asking for the income statement of every gambler is stupid. It's our privacy, and we can't entrust that to the casino as that is too risky. You know, if that information leaks, then our lives will be at risk as we might be getting robbed.

Why can't we be responsible so we will not bother the government in making stupid rules like this? I think it's enough warning that we should know the risks and therefore we should manage ourselves very well. Gambling addiction is really a problem, but that's because of us. Casinos can't do anything about that as they are in the business of entertainment; they accept bets without knowing our financial situation.

Who told you that casinos want such thing to happen, it will limit their profit and gamblers will still gamble with the amount of money that they want to use but they will change to a different channel. Assuming it will be effective on the life of gamblers then it is a good thing to implement but it wouldn't change anything.

However, gambling for adults and everyone knows that adults are the ones to be held responsible for whatever they are doing in the sense that you don't control them on what to do otherwise, there will be riot on the streets. In a country where gambling is banned people still gamble illegally.

You make it sound as if casinos actually care if their gamblers go bankrupt. They don't. While casinos have certain features protecting their players from getting addicted or spending too much, they're only that out of compliance. They're not doing that because they're responsible. They have no choice. They're obliged to follow regulations. But they don't really care.

They're not thinking of how to protect their players. On the contrary, they're thinking of how to make sure their players spend more and more time and money on the table. The truth of the matter is that they love to see the gamblers losing.

No, it won't help in eradicating gambling addiction but could be cause of severe addiction. Let's say if a casino implements something like that then the gambler will have deposit limits on that single casino and these days gamblers can choose between 100's of casinos and even if each casino does that then again the gambler will be able to gamble on each casino with those limits and it won't help to remove that addiction if he/she develops.

It will only promote lack of freedom. If I am paid certain amount of money, it is not the government that will teach me how to spend the money because they did not helped me to work for the money. I worked for the money myself.

Some people will still see ways to bypass it and gamble with the amount of money they like to gamble with. Even that gambling sites prefer to work on their own and not collaborate with the gambling sites and making it in effectively. Even if it is effective, it will only promote offshore gambling.

Honestly it can be very helpful because it lessens the chances of a gambler losing money he or she does not have. However I believe both the gamblers and the casinos would not be too in favor of this policy.

Any gambling addict will not be deterred but instead will look for other ways so they can continue gambling. As for casinos, they want to be able to make as much money as possible and doing this would not give them that.

Reflecting on income statement I thought about it how it can be used by gambling companies to deter the growing rate of gambling addiction among online gamblers which has led to massive wreckless loss.

Don't you all think that if gambling sites are charged by the authority to through KYC verification requirements call for income statement of every gambler to set a percentage limit to how much money as maximum amount they can deposit either in a day, week or month for gambling.

I understand some of us hate KYC but Can this help eradicate gambling addiction if gambling companies consciously swing into it.