Should Online Casino Websites Require Risk Warnings, and Knowledge Assessment? - page 3.

Perfectbaby

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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.

There is need for that also, this is to create awareness to newbie gamblers or traders who doesn't know what they are doing or let say is their first time trading and or involving themselves to gambling, with this risk warning they should be able to know that they are going to risk their money while gambling.

If you ask me i will suggest that this warning should be displayed immediately they click on any deposit address from the gambling site, so that before they copy their address they would read this warning even before making deposit to the gambling site and also, this same warning should be displayed immediately the deposit have been confirmed before they moved down to make bet or gamble.

retreat

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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. 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.

ethereumhunter

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Casino can do what exchanges do to their members before they start playing gambling and that will depend on their policy. But I am not sure if casino will do like that as they may give a reason that they accommodate people to have fun and relax for a while after they do many activities.

Their members should responsible themselves when playing gambling and realize that playing gambling excessively can makes them in trouble. Besides that, casino already have excluding ourselves feature for their members so they can use that to avoids playing gambling excessively. But not many gamblers use that feature because they found an exciting moment when gambling.

lovesmayfamilis

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I would be happy to see such warnings on casino sites, but I highly doubt that the casino itself would welcome such warnings. Although the casino has a service to freeze accounts at the player's request, I don't think they care much about the players' finances, quite the opposite. Any casino is set up for its profit. See how easy it is for them to make it easy for players to spend their large sums of money while easily tracking their deposits, and how carefully they check accounts when they have to pay out large winnings.

EluguHcman

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If there must be warning themes in gambling for the casinos to regulate proper gambling habits on the gamblers, I think the warning should come during the players registration on the casino sites to earlier stay at alert and not at every course of placing bets because the potential risks should be formally be informed because the stage of placing the bet.

In other words... The warning theme could also be regarded at every course of placing every single bets to be reminded of the risks just as the centralized exchanges has always given users red alert warning when using the P2P feature that we should not release the coins to buyer when payments has not been confirmed received otherwise, they won't be responsible for any losts.

Lida93

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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 are not necessary because it really doesn't have the wherewithal to discourage or stop a chronic gambler from going addictive by spending more. What I see here is giving those gamblers with gambling problem a window of opportunity to jump the gun by having into create multiple gambling accounts with almost every online casino just to make sure they be able to gamble to their satisfaction.

On the other hand, despite being an advocate of responsible gambling, the restrictions for me goes against the right of persons to privately spend and enjoy their hard-earned money as they wish. For responsible gambling is basically not just about knowledge but self discipline because I have seen a lot of gamblers with good knowledge of the negative sides of gamble but still goes on gambling recklessly due to a lack of a locus of self discipline

kotajikikox

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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

I am pretty sure a version of this is already included in the terms and conditions of the casino. But just like terms&conditions, no one would really read it or take it seriously. But still it is best if we implement this and remind the gamblers at all times.

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.

i don’t think this will be accepted at all. Bettors wouldn’t even know sometimes how much they want to bet and they would want to bet more than 10% most likely at some point so they won’t shoot themselves in the foot by agreeing to this even if it is the ideal scenario to avoid financial loss.[/list]

viljy

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I think that most gamblers will not want to "take the exam" before playing, and casinos with such requirements will lose their customers. Therefore, I doubt that it is advisable to introduce such rules. After all, since the players must be of legal age, therefore they are already capable, therefore they can be responsible for their decisions and actions, including those related to finances.
Perhaps the casino can offer the player to optionally confirm thesis 2 and necessarily agree with thesis 1. Thesis 3 should be deleted or turned into an optional training demo.

Mpamaegbu

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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.

Those texts should be clearly written and made to pop up whenever a bet is to be made. It will absolve casinos of any blame as disclaimer. We know how people turn around to blame others when things take a dive but praise themselves when they get successful out of their decisions. I think it was even Binance that started it in the crypto space in Futures trading. It was the first exchange I noticed it on, anyway. Now, it's rampart across exchanges. If crypto exchanges could come up with that, I don't see why it shouldn't be mandatory for casinos.

Oluwa-btc

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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.

Honestly I like this idea and assessment aiming to give a low indulgement of gambling activities, more especially knowing that you are prone to major risks of loosing alot of funds, and the mandatory assessment quiz can't be that necessary cause alot of gamblers can still pass this test but then bearing in mind that you got to make use of the least 2% to 5% as the case may be in gambling is what matters .

Sandra_hakeem

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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.

I'm not against the knowledge assessment, quiz and whatnot, but this doesn't make any difference. Since those warnings could possibly anticipate a two-way reply from the user, who's gonna be so daft to click on "disagree" or whatever the next option might be? This would definitely be more of a formality than a regulation as it doesn't necessarily restrict anyone.[/list]

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.

"What's good for the goose, they say is good for the gander" You don't put up obnoxious policies where you're probably getting a cut; the little sumptuous pieces of icings and cakes do not interfere regardless.
Of what purpose will it be anyway? You can't tell a sane person to not haul himself into a pit that's obviously seen. If they insist, you can't stop them as they may leave, but decide to come back when there's nothing to stop them.

Wexnident

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

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100%. Rather than slapping that wordy ass TOS of theirs in my face which I would never read, would probably be a lot better to include some OBVIOUS warnings that despite being obvious, still escapes some gamblers for some reason lol. Ofc, still include the TOS, but add the big warnings as well. And maybe warnings on certain spending points every session. Pain in the ass, yes but at least it serves as a general warning.

As for the knowledge assessment quiz, I highly doubt it'd be effective. Gamblers would just press random stuff to proceed. And if it was required for them to know that stuff, kind of serves as a way for users to just leave the casino for doing that. So nothing too difficult, but pretty obvious as well in terms of setting up warnings.

uneng

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I don't think it would work, because people willing to gamble aren't interested in answering to virtual quizzes, neither to agree and disagree terms. The KYC process itself is already painful enough to go through, now imagine having to answer a dozen of questions before being able to bet. Casinos introducing this kind of terms would be in disadvantage compared to other casinos, because gamblers would immediately reject playing at such bureaucratic casinos.

People are looking for accessibility and easiness nowadays. Anything taking longer than 5 minutes to sign up is already discarted by internet users. Businesses know about it, so they try to demand less informations as possible during the sign up procedure.

Smartvirus

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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.

Weawant

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Worth he rate of addiction in gambling and teenage exposure to gambling I think this will actually be necessary so that it may help to keep in check so of the untamed habits as also helps with monitoring especially the deceleration of risk gamblers who will have some restrictions around 10% , actually ro be more stringent, ur will e even better accounts be monitored a d when it feels like a users pattern of gambling on that particular account suggest addiction, a form of restrict for a while could be placed on such accounts and be synchronized across all casinos in that region to help restrict a d control or keep that gambler in check so that such gambler doesn't further promote the perception that gambling is the problem to the society meanwhile they are the problem for not keeping their habits under check.

EL MOHA

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Quote from: Nwada001 on December 20, 2024, 05:39:34 PM

That could help for those who don't know the risk associated with gambling and just want to jump into it from the advert they see about it online; such risk assessment might discourage most of them from ever going into gambling with a high amount.

But for the old and already existing gamblers, they are already aware of this and have been skipping the rules, so even if such is displayed each time they want to place a bet or each time they visit the casino, they will skip it and do what they have in mind as usual.

Same as trading there is nothing wrong in a disclaimer warning or even guide because to me we see this mostly by exchanges or even gambling platforms where they even go to the extent of providing something like a demo account for those new to the platforms and even place some restrictions on them on the maximum level of leverage they can go on with but seriously even at this those who are perpetual gamblers or those who don’t want to learn about their excessive gambling would still have a work around, so it is not bad actually having this warnings but any addicted should rather seek gambling because this disclaimers will just be like a tutorial for them

SamReomo

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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.

Nwada001

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That could help for those who don't know the risk associated with gambling and just want to jump into it from the advert they see about it online; such risk assessment might discourage most of them from ever going into gambling with a high amount.

But for the old and already existing gamblers, they are already aware of this and have been skipping the rules, so even if such is displayed each time they want to place a bet or each time they visit the casino, they will skip it and do what they have in mind as usual.

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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?

Implementing stricter regulations, similar to those suggested for cryptocurrency trading, could indeed be a significant step towards protecting players at online casinos. Requiring players to acknowledge risk warnings, manage their funds responsibly and demonstrate an understanding of the risks involved is crucial to a safer gaming experience, but I have my doubts as to whether this would actually work and the challenges involved.

The fact is that implementing these regulations could be challenging, especially in a global and diverse industry like online gambling. Online casinos would have to collaborate and potentially face additional costs to develop and implement such systems… but with the rapid advancement of technology and the increasing emphasis on social responsibility, pressure from governments and the growing problem of addicted gamblers, perhaps these measures could become feasible and beneficial.

acroman08

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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

I'm sorry but shouldn't this a common sense? I mean, if you are an adult and are going to gamble you should already know that you could lose all your money if you gamble. also, casinos usually have a "responsible gambling" article in their casino that tells you what you need to do to become a responsible gambler.

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

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.

I don't agree with this, I mean, it's a restrictive and hassle and I am not sure if this will be adopted worldwide but I remember Australia has a similar rule, their gambling regulation there is quite strict.

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.

or better yet, they should require a "gambler license" before people can gamble. people need to take these tests and if they pass they get a "gambling license ID" and they only need to show it in order to be able to gamble Roll Eyes

Topic: Should Online Casino Websites Require Risk Warnings, and Knowledge Assessment? - page 3. (Read 616 times)