There is a global involvement of people across all ages in betting activities and this trend keeps rising with the passing years. More than 90 percent of people in the UK own a mobile phone, of which, a 2019 survey by the Gambling commission of UK, saw a total number of 47 percent of mobile phone users who made bets in the year 2019. Also, a report from facts and factors says By 2026 worldwide, the Online betting Industry will generate in excess of USD 100 Billion.
The Gambling commission of UK, the lead industry gambling regulating agency in the United Kingdom bears the full responsibility of determining that licensees do not violate the rules and requirements set by the British Gambling Act of 2005. The agency has discovered that a huge number of people who utilise gambling mechanisms, are at great risks of losing their earned allowances.
This is just one of many observations made by various other government-run gambling regulating bodies.
Irresponsible gambling can certainly lead to grave financial losses, and as such should be curtailed to the barest minimum.
There have been many instances of gambling-regulating efforts embarked upon by gambling firms in retrospect.
These efforts, geared towards ensuring that gamblers or bettors carryout their activities with more discretion, have turned out to be more successful for users over the years.
Efforts made by several betting firms have translated into:
- Advisory company policies which are strictly monitored by government regulating agencies.
- Restrictive methods to limit excessive monetary circulations in online betting sites.
- Organisation of periodic events by the World Lotteries Association, involving its individiual members, as well as related civil organisations, to promote responsible gambling, among people.
- Enforcement of legal ban on repetitive offenders of gambling law; amidst others.
All these above listed responsible gambling control guides have made some positive impacts in the lives of professional bettors, and has instilled a harmonious functional relationship between bookmaker firms and government authorities all over the world, which attests to the fact that it is now an increased revenue generation platform for the government.
NOTE: StarklyTech does not endorse any online betting bookmaker firm, and neither implies that readers should carry out betting activities. Article ideas expressed here are solely those of the writer, and in no form construe an advice.