The online gaming industry is continuing to experience exponential growth in current times. With the COVID-19 pandemic driving people across the globe to spend more time at home, many have turned to gaming and gambling for entertainment, distraction and escape.
The online gaming population increased by 63% during the COVID-19 pandemic in 2020. Many new gamers focused on gambling, and search interest in online casinos hit an all-time high in the UK during lockdown. This has inevitably raised concerns about the wellbeing of consumers- especially for those who already have a history of problem gambling.
Research demonstrates that even before the pandemic, there were over 2 million consumers at risk of problem gambling. Unsurprisingly, this number has continued to rise thanks to numerous lockdowns- and there are some worrying trends.
By the end of 2020, the total number of bets placed on online slots alone in December rose to 6 million, marking a 30% increase. This suggests that gamblers have been spending increasing amounts of money on betting, which has contributed to a gross gambling yield of 30% among the biggest operators.
As a result, the gaming industry has seen an unprecedented surge in consumer demand and disruption- as well as some formidable challenges along the way.
Now that so many consumers are spending their time online gaming, the industry is having to adapt to new consumption habits, and be quicker than ever at recognising the signs of unsafe play. This means that technology needs to be sharper, more sophisticated, and offer both customers and gambling firms the necessary reassurance and protection they need.
Rdentify Protect™ Gaming
All this and more is possible with Rdentify- the seamless NLP platform that allows at-risk gamblers to be detected with speed and accuracy.
Built by industry experts, Rdentify Protect™ Gaming uses highly advanced customer risk analysis software which flags end-user vulnerability risk during live chat interactions. By using our innovative platform, online operators can offer a safe experience by maintaining a positive dialogue with their customers, while mitigating the risk of loss due to undue financial claims. This increases compliance with Safer Gambling legislation, reducing the risk of penalties and reputational damage.
We also facilitate increased levels of social responsibility, which is something that needs to be addressed by the industry at large.
According to the Gambling Commission, gambling firms should operate with a clear sense of social responsibility, laid out in three licensing objectives; that crime should be kept out of gambling, that gambling should be conducted in a fair and open way, and protect children and other vulnerable individuals from harm or exploitation.
Our platform therefore allows operators to adhere to these objectives with ease. Instead of being caught out by multiple chats and agents that mask signs of self-exclusion, gambling firms have an opportunity to act swiftly and responsibly. This in turn minimises consumer risk, and protects the wellbeing of those who are vulnerable.
The benefits of Rdentify speak for themselves- but how exactly does it function for gambling operators?
After our years in the industry, we understand that in the fast-paced world of online gaming, common cues of problem gambling can be missed- leaving gambling firms open to heavy fines and licensing issues.
We’ve therefore focused on key operator pain points to deliver fast, practical solutions for both firms and consumers alike. These solutions not only comply with gambling regulations and legislation, but also encourage social responsibility in the gaming industry as a whole.
Rdentify can be integrated with our easy-to-use API tool on the vast majority of CRM systems. If you do not, on the rare occasion, have a CRM system that allows for integrations, or you decide not to integrate, our expert team is on hand to provide daily, convenient reports.
And when it comes to calculating individual categories of risk scores, we believe simplicity is key. Through an easy to understand 1 to 5 scoring system, we alert problem gambling risks to front line staff, who can then provide the assistance that vulnerable consumers need. In turn, this lowers operational risk, and further demonstrates to regulators that you take the protection of customers seriously.
Behind the scenes, we utilise the latest Natural Language Processing models to compute the raw probabilities for each text, and utilise this accordingly. And we ensure that no personal data is ever stored on our servers, leaving you in full control.
All of this allows firms to operate with confidence, in increasingly difficult times. By harnessing the power of AI technology, we can work together to protect customers and businesses, and encourage the gambling industry to operate as a safe entertainment outlet for all.
If your firm is ready to invest in socially responsible game play, you can take advantage of our free demo today.