Topic: Should Online Casino Websites Require Risk Warnings, and Knowledge Assessment? - page 4. (Read 512 times)

The thing with the regulations of the United Kingdom when comes to cryptocurrency exchanges and other services which try to facilitate Bitcoin/alt coin speculation to a wide percentage of the population of the country is how strict they are when comes to allowing or not people to take risks with their own capital. I have seen people from the UK who literally need to take a quiz before being able to trade and also go full Know-your-client, not basic level but full level (physical address included). It is so strict that actually it would be silly for casinos to adopt those same relations when comes to betting markets, as if people did not know they are actually risking their money. 

Also, we must keep in mind the regulation of the United Kingdom is not international/global, so if a casino was forced (for some reason) to comply with those warnings, quiz and also full KYC before allowing their gamblers to bet, then it would mean that casino would fall into disadvantage in comparison to others which do not make the process of betting a hassle, which make it as simple as depositing and choosing where to bet.
I am okey with people getting more educated about the world of gambling and betting, but building barrier after barrier, after barrier in order for someone over 18 years old to place a simple bet sounds rather like an exaggeration, if you asked me.

It's very different though, for number 1, we already know that once we gamble so I do not see it preventing gamblers from losing money. And that is the definition of gambling, risk=reward. So as much as we tell them that philosophy, majority might not adhere to that.

Same with number 2, doesn't make sense for them to acknowledge that kind of "restriction", gambler will be gamblers and they are going to risk more as they see it.

Nah, even if they passed this kind of quiz, gamblers have totally different mindset when the actual betting starts.

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.

Hmm yes, good topic, I think your idea about the rules is indeed appropriate to be applied in gambling with the aim of reminding gamblers that they are in a possible risk outside of the chance of winning. However, anything that leads to understanding for the sake of prevention will always be a good idea, my friend, because then I think a gambler should not play impulsively or aggressively because of the fear of losing all the money he has.

But on the other hand, the problem here in my opinion is, is there something like a punishment that can prevent a gambler from betting because they ignore all the warnings? If there is, that's good, but another thing I think here is whether it is possible for the casino to make such rules that lead to various preventions so that gamblers do not lose too much money while the purpose of the casino creating all the games is to profit from the gamblers who lose?

The bigger question is, will the regulators be able to provide all the necessary tools that check every casino to know what is the level of compliance with such gambling rules, and what is the accuracy of the information and data provided by the gamblers?

Will this initiative increase casinos revenue or reduce their net income and how that result affect their financial and running cost?

This is what casinos will look into before they consider adopting such rules, although this is all in the interest of the gambler which is good if implemented properly.

Such requirements have nothing to do with the well-being of gamblers, but all to do with protecting the casinos from lawsuits.
It doesn't matter that they'll make you accept that you're doing this at your own risk, that you claim to not be investing more than x of your funds, it's all bullshit. It's like opening a bar and adding a checklist at the door where you have to sign in and confirm you're over 18 and then they won't ask for ID, just pour you drinks. Do you believe that would stop people from signing the list at 17? Of course not.

An addicted gambler will forget he signed that 10% requirement within minutes.

This should be what that is important. For gamblers to consent that they can lose all the deposited money while gambling. It can be asked as a question. But just this question and not any other question.

Why? The regulators are not the owner of the money. So why this? It has something to do with making people not to have freedom with their money.

I do not think this is necessary.

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.