Inherent Risks and Emerging Platforms in the Online Gambling Industry
OCTOBER 22, 2021
- The online gambling industry is forecast to expand. This growth is spurred by new technology and a COVID-19-related migration of gamblers to online platforms, as land-based gambling establishments are shut down.
- Within the sector, online casinos and poker products have experienced more growth than online sports betting.
- Online gambling features can increase the likelihood of causing and/or sustaining problem gambling behaviour. These features include: convenience and accessibility; anonymity; higher speed of play; illusion of control; distortion of the true value of money; and absent or weak consumer protection among unregulated, offshore operators.
- Emerging platforms that utilize gambling or gambling-like themes, such as social casino games, loot boxes and skins, and day trading, are increasingly being linked to problem gambling.