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Gaming
Key challenges for the online gaming industry
By Jon Tricker, Managing Director, and Elaine McCormack, Senior Manager, Risk Consulting, KPMG Gibraltar
Putting Brexit aside, one of the key challenges for the online gaming industry is regulation. This is a topic that is hotly debated at the KPMG eGaming Summits in both Gibraltar and the Isle of Man, and it was interesting this year to see some positive thinking from operators about regulation and discussion of how it is changing the industry for the better.
Recent regulatory changes, for example, have not only strengthened player protection but have also been good for the industry as a whole by creating a more level playing field. The changes are intended to generate a mentality whereby everybody is focused towards the same goals and outcomes, which is really important.
There has been a lot of very public regulatory action over the last few years, and some may see this as the regulators trying to flex their muscles. But industry is also now seeing evidence that these regulations are
there to enhance business and customer enjoyment, particularly because everybody is playing to the same rules.
On a technology front, operators continually strive for a safer industry, but it isn’t always easy. Firms gather an awful lot of data about their customers as part of their on-boarding processes. The challenge is how that data is used on an ongoing basis to help and support customers if, and when, they need it.
There are also some fantastic tools available to help customers gamble responsibly, but customers aren’t always aware of them. It’s unfortunate that a lot of these technological advances only rear their heads when customers realise they have a problem and it may be too late, whereas if they were prompted earlier, then it could really help solve many issues the industry is facing when talking about responsible gambling.
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