Leading onboarding and customer due diligence provider, HooYu, is issuing a call for the gaming industry to reduce gambling harm by improving problem gambler profiling techniques.
In recent years, the industry has embraced evolving KYC requirements, but in the last three years, UK Gambling Commission fines have increased by 1,100% for failures to protect players and properly understand their circumstances.
As part of Responsible Gambling Week, HooYu is calling for the industry to adopt three new measures asking operators to
- Use their own customer data to develop better player profiling techniques including behavioural and demographic scoring that segments players to show risk of gambling harm
- Consult customer intelligence data sources that show negative financial indicators such as payday loan applications and County Court Judgements
- Perform network link analysis on their own data to identify multiple account holders and relapsed self-excluded gamblers
HooYu is holding a webinar on 12th November with YGAM where they will interview a reformed problem gambler to share insight into the dangers of how payday loans can fuel problem gambling and to share expert insight into how operators can progress beyond merely knowing, to understanding their customers.
Danny Cheetham, reformed problem gambler said “At the height of my problem gambling I had 26 loans with payday loan operators and it quickly got to the point where my interest payments exceeded my salary. I wish that the data had been made available to gaming operators to identify my source of funds as coming from payday loans that were fuelling my gambling problem.”
Kev Clelland, YGAM Director of Education said, “We believe the earlier the intervention, the better at YGAM, which is why we want to inform, educate and safeguard young and vulnerable people around the potential harms caused by gambling. However, whilst we do recognise that the operators have made huge strides in terms of protecting their customers, they can always look to do more, and using tech to decide when they need to perform outreach and ask their customer to consider their gambling behaviours is a positive step”.
David Pope, Marketing Director at HooYu said, “Operators should use their customer data to produce gambling harm propensity scores and segment customers. At HooYu we help operators to identify gamblers that have been applying for payday loans to help operators inform affordability decisions. Several leading operators have now started to provide us with their problem gambling customer data so that we can help them identify multiple account holders and relapsed problem gamblers.”
To join YGAM, Danny Cheetham and HooYu on their webinar to share insight as to how operators can reduce gambling harm, register at https://attendee.gotowebinar.com/register/7370756919052416013