University Research Says Banks Can Help with Problem Gambling
LISTEN TO THIS ARTICLE:Queen Mary University of London has announced the results of research on the Prevention of Gambling Harms which indicates they believe that banks can play a pivotal part in the reduction of gambling harms within the industry.
They highlight that financial institutions have a unique relationship with their customers and this could allow banks the chance to make an early intervention for players who are flagged as vulnerable.
The research says that there are a record number of gamblers in the UK who are reported as looking for support and help due to problem gambling and related issues, and banks have a key part to play among gaming industry stakeholders to provide a safe environment for customers.
Our research underscores the devastating personal consequences of problem gambling. Banks, with their unique position and access to transactional and behavioral data, can effectively identify and assist customers in recognizing and addressing their gambling-related issues early.
Bank Tools Can Help Vulnerable Gamblers
The researchers at the university set out in the report that there are several tools available in the gaming industry that can be used by financial institutions to help their customers who may feel they are in danger of gambling-related harm.
Banks can make use of spend analysis tools that may be able to indicate that a customer's spending on gambling has become erratic and out of control. Additional tools include gambling blocks which would allow customers who signed up for the scheme to be prohibited from undertaking financial transactions with gaming operators, similar to gambling self exclusion.
Once a player's gambling has been flagged as at risk from gambling-related harm, researchers at Queen Mary University would like banks to be proactive in pointing customers to organizations that can help those at risk from gambling. Links to support organizations such as GamCare one of the leading help organizations for gamblers in the gaming industry.
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