How Banks Could Help Resolve Issues with Irresponsible Gambling

Posted on July 21, 2021

One of the things we pride ourselves on at is the fact that we only recommend responsible, secure, and safe betting sites for our readers. However, safe and particularly responsible betting is always a two-way process.

The onus is on the bettor to bet responsibly as well as the betting provider to ensure that their customers engage with their site in a sensible and workable way.

You’ll know from the myriad of articles about responsible gambling with EsportsBets over the last few years, that this is a particularly hot topic, especially with the number of bets being made online has increased markedly during the pandemic.

However, a new charity, the Money And Mental Health Policy Institute has given us a different take on things. Their new guide, launched earlier this week, has given guidance to banks, and building societies on how best they can support customers struggling to bet responsibly.

Key Pointers in the Guidance

The guide has been produced after the Institute drew on expertise from professionals within the financial services, as well as from testimony from those affected by gambling problems.

Essentially, the guide recommends that there are three particular areas where banks can make a key difference in helping people with gambling issues.

  • Support – This can be achieved by creating a culture of support for people with gambling issues and especially by training staff to help people make better choices with their gambling in a non-confrontational and punitive way.
  • Guidance – For those customers that are at risk of gambling problems, the guide recommends that banks and their like should be able to identify these people from their transactions and then communicate with them to offer guidance and support, as well as putting them in touch with specialist professional bodies (if required) that deal specifically with gambling problems.
  • Controls – The guide also recommends that banks can be proactive in helping individuals resolve their gambling issues by allowing them the ability to block gambling transactions on their cards, as well as other forms of spending controls to help them better manage their finances and avoid betting irresponsibly.

online gambling

“Step Up Support”

Speaking about the release of the guide, Helen Undy, the Chief Executive of the Money and Mental Health Policy Institute commented:

“Gambling problems can cause utter devastation for those affected and their loved ones. Banks are in a unique position to help, and we have been hugely encouraged by the progress made in recent years, especially with the increasing number of banks offering the option for customers to block gambling on their cards.”

“But there are still important opportunities for banks to build on this progress and to step up support for those at risk.”

She also said that the guide had set out “ambitious ideas for how the sector can go further in making a real difference” when it comes to the harm that irresponsible gambling can cause.

The Executive Director at the UK Gambling Commission, Tim Miller, welcomed the guide stating that:

“To have a real and lasting impact on tackling gambling harms there must be a multi-sector partnership approach, and the financial sector has a particularly important role to play.”

“This guide sets out useful ideas and steps firms can take to help protect those at risk, building on the progress they have made over recent years.”

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Ian John

Ian is a regular contributor to EsportsBets. Ian is well-versed in the world of esports betting and casino gaming and has written extensively on the online gambling industry. Ian brings fresh insight into all facets of gaming.

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