1account has started a conversation with top gaming industry experts to get their thoughts on how digital technology can help gamblers track their finances in real time across different accounts.
According to UK Gambling Commission (UKGC) statistics, the average UK gambler has three betting accounts, while younger gamblers are more likely to have five or more.
Furthermore, around 35 percent of the UK population, or 24 million people, gambling, with around 10.5 million betting online on a regular basis.
Ralph Topping, the former CEO of William Hill and current member of the advisory board of 1account, a provider of age verification and digital ID solutions, expressed his thoughts.
Responsibility to customers
“The gambling industry in the UK takes its responsibilities to customers extremely seriously, however they can only act on the information they themselves hold about a person’s activities,” he said.
He went on to say about 1account’s consultation: “A digital identity, linked to all a player’s gambling accounts, shows that person an overview of their net deposits, meaning they can moderate their play accordingly and not only bet less at certain times, but know when they’re in a position to safely play more.”
Meanwhile, Ben Keirle, CEO and founder of 1account, explained that having many accounts makes players more likely to be unaware of their total financial situation.
Although some operators give tools that allow players to view their net deposit balance – which explains the financial status of their gaming activity – Keirle argues that this is insufficient for people who have many accounts.
Consolidation of accounts
He claims that bettors with many accounts can only consolidate their entire financial situation themselves, if at all.
He explained: “Right now, we are consulting the UK gambling industry, including betting operators, charities and the Gambling Commission, for their views on how digital ID can allow better self-regulation of betting activity.”
“Our consultation and proposal, which will result in an industry first if adopted, is aimed exclusively at putting more control in the hands of individual players, supporting safer play and enabling operators to make better player account management decisions.
“1account’s digital identity takes the best of existing controls and pushes them even further by integrating solutions while fully protecting sensitive data and individual privacy, as well as providing a joined up-net deposit position regardless of where a player bets.”
1account’s plan, according to Keirle, would complement the industry’s efforts to improve responsible gaming while also supporting “the interests of gamblers themselves by delivering greater than ever transparency and visibility of their financial position across all of their accounts and activities.”