The British Columbia Lottery Corporation (BCLC) declares that the gambling and financial industry should work in unison to protect consumers
The British Columbia Lottery Corporation, a Canadian provincial lottery operator, has called for the gambling industry and financial institutions to work together to prevent a rise in problem gambling.
Many operators and regulators around the world do their best to support responsible gambling but if banks are able to implement certain measures and make use of preventive tools, then it will help the industry's fight against problem gambling even more.
If banks start to implement these measures then gambling operators will benefit from customer controls and will be able to develop clearer responsible gambling strategies.
At the BCLC's ninth annual New Horizons in Responsible Gambling, the director of player health for the BCLC, Jamie Wiebe, said:
Banks have an important role to play in helping gambling operators better understand the relationship between their customers’ spending and gambling behaviours, which helps the gambling industry enhance our tools in response.
As the industry looks to support the health and wellbeing of our players overall, it’s critical that we engage with other industries in these important discussions that identify new learnings that help shape our collective approach.
Monzo are one of the online based financial institutions that have introduced measures in the UK to help customers manage their funds by introducing blocking features and allowing self-exclusion. Therefore, as seen in the UK, banks can help in the fight against problem gambling in Canada by monitoring certain spending habits of customers. Through monitoring these spending habits, banks will be able to identify the problem before it spirals out of control.
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