Should Online Casino Websites Require Risk Warnings, and Knowledge Assessment? - page 2.

mak013

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Quote from: Davidvictorson on December 20, 2024, 03:46:59 PM

This is the second part of the thread I previously created on the trading board, and I see some similarities that suggest it can be adapted to gambling, so I’m sharing it here. Do you think crypto trading regulations, similar to what Coinbase UK reportedly requires before allowing users to trade, should be adopted by online casinos? For instance before placing a bet users could be required to pass a knowledge assessment that includes questions such as:

Users must acknowledge prominent risk warnings stating they could lose all their money
Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

Cmon, we are fighting against KYC, casino says that they KYC you "some time later to allow you to start gambling faster" and you suggest to pass knowledge assessment. It can`t work the same time together.
The same time i passed such tests, they are primitive enough, so i don`t sure that it can stop some gamblers, who decided to lose money.

But i like your idea, if it can stop somebody from losing - it would be good for everyone, except casino.

Smartprofit

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In my opinion, people should not be positioned as unreasonable children. Online casino players are usually adults who can make decisions on their own.

What Coinbase UK is doing is, in my opinion, hypocrisy. Coinbase UK is a commission business, meaning that Coinbase UK makes money regardless of whether the exchange users make profits or losses. By introducing additional requirements for the exchange users, Coinbase UK does not impose them on itself. As a result, there is no equal partnership between Coinbase UK and the exchange users.

In addition, by accepting certain restrictions, online casino players minimize their chances of winning (the online casino does not impose any restrictions on itself). This, in my opinion, is unfair.

In general, the modern world is ruled by bureaucrats. There are more and more all kinds of restrictions, and less and less joy and freedom. I don’t like this very much.

traderethereum

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Quote from: mirakal on December 21, 2024, 06:36:25 PM

This is a good step, and should be taken by the gamblers seriously. If not, these irresponsible gamblers shouldn't be allowed to enter into gambling, because that will only bring a lot of risks and frustrations on the gamblers part. Gambling blindly should be stop, and both parties should exert efforts. While online casinos require risk warnings and knowledge assessment, gamblers should strictly comply on it to avoid gambling mishaps and consequences in the end.

Gamblers will thinks that is not necessary because gambling is different than trading. It is why they must realize that gambling must be responsible so they will not lose big money. They must know the risk of playing gambling which can cause them getting many problems without they realize. If they can comply their limitation and avoid gambling excessively, they don't need to pass a knowledge assessment that includes questions because they already know what they do and don't while gambling.

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Quote from: Findingnemo on December 22, 2024, 01:02:54 AM

A detailed article about risks involved in gambling on a dedicated page is acceptable but assessing the individuals before bets seems to be overkill and it accomplishes nothing but make the platform less attractive. For example we are going to a restaurant then we need to know what we are allergic to and let them know while ordering instead you are suggesting everyone who enters into the restaurant must acknowledge what they are allergic to.

Constant knowledge assessment for gamblers that wants to gamble in a site is not necessary, so far there's no way of knowing if they're telling the truth. The best thing to do is have a detailed article about risks that is involved in gambling on a dedicated page as you suggested, gamblers can visit the page to evaluate their gambling habits. I doubt that gambling sites will on their own be giving constant reminders about the risks of gambling to their customers, unless if government regulations mandates it. It is basically the duty of the gamblers to constantly remind themselves about responsible gambling because it's their money, not the casinos or government money.

Julien_Olynpic

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I believe that one way or another, users will bypass any restrictions related to checking their risk management, responsible gaming, betting and trading competence and similar things. In addition, as was correctly noted above, regulators do not own our money and have no right to tell us what we should do with our money. As for responsible gaming, the casino should certainly warn users about the risks, but the truth is that few people read these warnings. Mostly, people are guided by their own experience.

Odohu

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Quote from: Davidvictorson on December 20, 2024, 03:46:59 PM

This is the second part of the thread I previously created on the trading board, and I see some similarities that suggest it can be adapted to gambling, so I’m sharing it here. Do you think crypto trading regulations, similar to what Coinbase UK reportedly requires before allowing users to trade, should be adopted by online casinos? For instance before placing a bet users could be required to pass a knowledge assessment that includes questions such as:

Users must acknowledge prominent risk warnings stating they could lose all their money
Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

This could actually help a lot by forcing the gamblers to actually take responsibilities for losses and whatever comes with his gambling activities. It is easy to implement by casinos but the challenge is that not many gamblers will even pay attention to the details instead they will check the "yes" boxes to be able to place their bets without knowing the content of what they accept just like it is done with the lengthy TOS that most people do not read.

Another observation is that the only way this will be successful is if there is a general consensus by the casinos or some form of law mandating them to implement such provisions else some might not see the need as they believe it will deter customers from using their platform.

Jody.Drummer

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Quote from: SamReomo on December 20, 2024, 06:15:17 PM

Well, there's nothing wrong if they require risk warnings but as far as I know the gamblers who use those platforms already know that gambling is risky and one can lose a lot of money by doing it. If still after knowing all those things, they gamble then surely they'll answer all those questions and still gamble without caring much about those risk warnings.

I think that when they hear the word gambling, they should be able to think that this does have a big risk of losing their money when we put money in the casino, I'm sure they actually know and are aware of the risks in this gambling, it's just that there are still many people who ignore this because they only focus on what they want, namely victory. In addition, I think casinos don't need to warn their players about this risk, because people who have the right mindset can already be sure that gambling is something that has quite a big risk. In addition, it is likely that many people ignore the risk side of gambling, and in my opinion, the same thing applies when casinos warn their visitors about the risks, it is likely that they will not comply with it properly because they tend to prioritize their own thoughts.

Findingnemo

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A detailed article about risks involved in gambling on a dedicated page is acceptable but assessing the individuals before bets seems to be overkill and it accomplishes nothing but make the platform less attractive. For example we are going to a restaurant then we need to know what we are allergic to and let them know while ordering instead you are suggesting everyone who enters into the restaurant must acknowledge what they are allergic to.

danherbias07

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This is going to be a problem for the gambling industry—the businesses, not the gamblers. If such things are applied, it can become troublesome to gamblers, so they will just seek another gambling platform that doesn't have these questions before they can bet.
Now, that means losing customers and losing profits for them. Other popular gambling sites already added the options of safe gambling, restrictions, gambling limits, and self-assessment but it's all up to the gambler. It's an option not a mandatory thing because if they apply that as a mandatory thing, the customers might not even finish the signing up process due to the heavy questions before they can start gambling.

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Quote from: Stablexcoin on December 20, 2024, 04:17:59 PM

Quote from: Davidvictorson on December 20, 2024, 03:46:59 PM

A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.[/li]
[/list]

The idea can be adopted but it shouldn't be mandatory. The purpose of every gambler coming to a new casino for the first time is to have a good experience depositing, gambling, and withdrawing their funds. Having to go through some series of questions for whatsoever reason may look too tiring for many gamblers they will rather leave the casino and move on to the next option.

Like I said it should be of free will for the gamblers to pas through this quiz. For those who want to learn through the quiz let them click the option by themselves. Any feature to be added to a casino should be checked if it improves the user experience for the gambler. If it does not then it shouldn't be implemented in the casino. The headache of losing and the problems that some casinos give to their user is enough already.

However, this should be mandatory for beginner gamblers. Gambling addiction can be so tempting, that's why in order to avoid that, we need to stick with these rules and apply them every time we decide to gamble. Otherwise, all these gambling casinos efforts to help us won't be beneficial for us, thus will result into an unhealthy gambling atmosphere that will eventually lead us into constant losses and future regrets.

mirakal

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This is a good step, and should be taken by the gamblers seriously. If not, these irresponsible gamblers shouldn't be allowed to enter into gambling, because that will only bring a lot of risks and frustrations on the gamblers part. Gambling blindly should be stop, and both parties should exert efforts. While online casinos require risk warnings and knowledge assessment, gamblers should strictly comply on it to avoid gambling mishaps and consequences in the end.

Dewi Aries

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Quote from: batang_bitcoin on December 21, 2024, 02:56:31 PM

I don't think that there's a need for that. Most gamblers are aware of the risk and already have enough knowledge to gambling. And those requirements are going to make everyone feel bored about passing into such, instead of the casinos make more money, they'd see that these gamblers are already in process but then will suddenly quit because of not liking these long boring processes. AFAIK, most casinos have their reminders about being addicted and only to gamble with what we can afford to lose.

Hmm but I think it will only be a problem for gamblers who have an aggressive approach to gambling from the start, meaning there is no other way but to gamble with a minimal approach and that's good which means the rules implemented by this casino really work well, and for those who feel bored and become lazy to gamble because they feel sick of the rules I think they must be gamblers who have an excessive approach. So the rules are not to make gamblers force themselves to stop but to make them gamble with a good and correct approach that leads to risk management so that it does not have a bad impact on their finances in life. So with these rules it can reduce the population of aggressive or irresponsible gamblers, but I doubt a little that casinos can implement rules that can reduce the percentage of their business profits. Grin

batang_bitcoin

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I don't think that there's a need for that. Most gamblers are aware of the risk and already have enough knowledge to gambling. And those requirements are going to make everyone feel bored about passing into such, instead of the casinos make more money, they'd see that these gamblers are already in process but then will suddenly quit because of not liking these long boring processes. AFAIK, most casinos have their reminders about being addicted and only to gamble with what we can afford to lose.

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Quote from: Smartvirus on December 20, 2024, 06:58:54 PM

It’s not uncommon for casinos and sportsbook to warn there customers or patronizers on having to gamble responsibly. I find it to be of utmost necessity but, the warnings don’t come with enough severity for gamblers to take heed of it. Gamblers would probably ignore it 99% of the time but, at least the casino or sportsbook played a part and that’s the most important part to it.
Gambling is risky when not done respectfully or not properly managed. It could build you and could also reck you. It all depends on how you approach it.

I surely agree with you that it's uncomon for sportbook or casino to warn their customers to gamble responsibly. Because if they make such statement, that means they don't want more customers. since we all know they make their money from losses made by people. It is obvious that casinos make money from peoples loses even if they don't come phisicaly to say it out. All what they need is for you to increase your betting stake and increase your chance of lose than win. So how can it be possible to allow them stop when you know you are gaining from the loses?

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Quote from: Davidvictorson on December 20, 2024, 03:46:59 PM

so I’m sharing it here. Do you think crypto trading regulations, similar to what Coinbase UK reportedly requires before allowing users to trade, should be adopted by online casinos? For instance before placing a bet users could be required to pass a knowledge assessment that includes questions such as:

Users must acknowledge prominent risk warnings stating they could lose all their money

So of what benefits will that be, or do you think majority of the people who gamble don't know the risks involved? Or Do you think by so doing, it will reduce the rate at which people gamble either responsibly or irresponsibly on these gambling platforms? Because, on the contrary, such measure can never completely proffer a solution to people not risking their money to gambling.

Quote

Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.

No, I do not agree to the opinion you gave above, because people should be free to gamble whatever amount they wish to, because the truth of the fact about gambling is that not every one is a low risk takers, and it's been working for them, and as such, as an individual and gambler, it's should be your responsibility to diverse which means works best for you.

Quote

A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

No, I do not also agree to this opinion of yours, because people should be allowed to gamble without a compulsory test of knowledge. Gambling is not a college degree program that you should force people to pass a quiz before given access, when you are literally not going to provide the fund that will be used for gambling.

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Quote from: Rruchi man on December 20, 2024, 04:56:32 PM

I think this will likely be the future of gambling, and maybe the regulators will be the ones to force it into happening because many casinos are well aware that many of their potential clients will fail things like the mandatory knowledge assessment quiz, and they will not be able to gamble, which means they will be losing customers, so they will not be quick to implement some of these.

I have looked at the comments while most of us have agreed with the first point, the second and third points have dissenting opinions. For the second points, I agree that it may not be feasible because it will go antithetical to the revenue generating strategies of the casino. I can say that those who are have VIP status bet more than 10% of their income. For the last point, it is basically the terms of service, and if you want to gamble there you should do the quiz so that when you go against the casino terms of service, the fault will be totally yours and not that of the casino. The only downside of this is that, we would see these social media influencers, start putting out the questions and answers for people to use in passing the assessment test.

Dr.Bitcoin_Strange

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Well, in my opinion, whether the casino implement such rule or not, it will not reduce the risk of being addicted to gambling because the only reason why these rules should be applied by the casino is to let new users be aware of what they are going into and also not to be held accountable for customer's lose
We all know that for ages now that gambling has been in existence, no body has ever held casinos responsible for their losses because it's widely known that winning gambling is a probability. People decide to gamble irresponsibly and become addicted, so I do not think that implementing such rule can actually help.

EarnOnVictor

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I don't support this and if any companies are doing it, they are only deceiving us, probably their regulators mandated it, it's not sincerely implemented because all that I've witnessed are only peripherals that are easy to pass, so what's the point? I prefer a more widely reached gambling awareness in terms of the pros and cons education. If they can sensitise this way, it will be natural, sincere and go a long way in making the intending and old gamblers foreknow the risks involved and also evaluate themselves respectively.

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Quote from: retreat on December 21, 2024, 02:00:41 AM

I don't think that casino platforms would enforce such risk warnings to players since it is too much hassle for players and the potential that they could lose potential players.

Gambling sites will not want to do that. They will prefer to just include in their terms of service how gambling should only be seen as something fun and not something else. But enough regulations are right to enforce the gambling sites to do it. If the regulators enforce something like this, the gambling sites will have no option than to do it.

Quote from: retreat on December 21, 2024, 02:00:41 AM

Also, the purpose of people playing at online casinos is to have fun, and if they understand that, then they should understand the risk that they will lose their money. It should come back to each person that when they gamble, it means they need to maintain limits, and when they get addicted or lose a lot of money, it means they are responsible for it.

You get it right. There nothing hidden about gambling. Even those that are gambling for the first time will know that as they are gambling, they can lose money as they are also wishing for money.

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Quote from: Davidvictorson on December 20, 2024, 03:46:59 PM

Users must acknowledge prominent risk warnings stating they could lose all their money
Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

All these rules if adopted will be targeted at making gamblers know the risks associated with gambling and to avoid gambling addiction or overgambling. But these rules can be bypassed since gamblers can give wrong information without being caught. The casino will hardly know how much a gambler earns.

Casinos will not be comfortable with these rules because it will make signing up to their platform complex which might discourage gamblers from using online casinos.

Quote from: Charles-Tim on December 20, 2024, 03:54:48 PM

Quote from: Davidvictorson on December 20, 2024, 03:46:59 PM

A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

I do not think this is necessary.

It might be necessary to restrict underage gambling. Some children might not be able to answer these questions correctly since they lack a basic understanding of gambling. But in this age of artificial intelligence, they can easily get the answers within seconds.

Topic: Should Online Casino Websites Require Risk Warnings, and Knowledge Assessment? - page 2. (Read 616 times)