Responsible gambling is becoming a byword for ‘having been licensed to operate’ a casino. All major operators are now taking the initiative seriously and want to be seen as businesses that take the interest of their customers foremost. Paddy Power Betfair is no exception.
Paddy Power Betfair and Responsible Gambling
Paddy Power Betfair, one of the world’s largest betting agencies with an international reach, has been facing some trouble in the recent months. The company’s expansion in the United States hasn’t been as successful as anticipated.
European legislators have been rather restrictive, deciding to phase out Italy and Ireland as booming markets for the gambling giants. And it all comes from a need to guarantee the safety of customers.
In light of this, the company is rolling out a new responsibility program, which will help “solve real business challenges”. Put simply, Paddy Power Betfair is trying to get ahead of events and avoid falling trap to what had transpired in both Italy and Ireland of late.
The initiative is rolling out in Romania which may seem as a marginal market, but it’s one where gambling is developing quickly. Teaming up Techsylvania, a Romanian tech accelerator, the initiative focuses exclusively on responsible gaming.
According to Paddy Power Betfair, the program will feature a number of important aspects, such as customer matching, identity verification, along with crunching large numbers of data. In addition, customers will be allowed to access a rich array of self-exclusion tools that will give them back control over their own bets and the way they wager.
Channelling the Corporate Mojo
Paddy Power Betfair is definitely not on its own in this ambitious undertaking. The company has over 600 team members in its Romanian office, which put it in a unique position to roll the program before November is out.
According to initial data we have, the new responsible gambling initiative will hit on November 20 and it will first feature mentoring and support programs, as these are seen as the most necessary aspects of the program right now.
It’s particularly important that Paddy Power Betfair find a strong foothold in the responsible gambling area as the company is taking heat from the UK Gambling Commission which has recently slapped Paddy Power with $2.9 million for taking bets from a gambler who was showing clear signs of addiction.
Fining the UK’s largest bookmakers and casinos is not exactly new. Earlier this year, 32Red got hit by a fine worth $2 million and Sky Bet and William Hill were also targeted with similar stringent penalties.
Overall, the gambling industry in the United Kingdom is coming under the tight control of the regulators that are no longer mincing words when it comes to reprimanding any wrongdoers.
However, the reprimand, as it turns out, always takes the shape and form of a financial penalty. Paddy Power Betfair is already hurting from the changing business landscape. Being buffeted with fines is the least of its goals at the present moment.
Rolling out the responsibility program is the company’s attempt to cope.