Gambling Commission Calls for Removal of Online Deposit Limit
The Gambling Commission and BeGambleAware.org charity have urged iGaming firms in the United Kingdom to remove their range of stipulated maximum deposit.
The Behavioural Insights Team researched (funded by BeGambleAware.org), examining almost 2,000 customers of 365bet.com to determine the extent deposit limits influenced the amount they spent.
The study found that the highest deposit limit included on most UK gambling sites’ pricing menus ranged from £1,000 to £10,000. These figures often led pundits to select maximum spending parameters, thus defeating the maximum deposit limits.
The study recommended the complete removal of maximum deposit thresholds, for replacement with an empty text box feature without suggesting a maximum or minimum monetary amount.
The researchers also argued that removing the specific amount from this deposit menu will make deposit limit tools more effective.
Rosanna Barry, who serves as the consumer market place adviser for Behavioural Insights, affirmed that the report resulted from her team’s detailed work.
She further stated that it showed how simple changes to the way gambling sites offer deposit tools, if implemented, will deliver maximum benefits to those who gamble and also to the society in general.
Due to this study, Tim Miller, the research and policy executive director for the Gambling Commission has called on the local iGaming industry to remove the option of operator-defined deposit cap, which ranges as high as £100,000.
Removing these parameters will prompt online casino gamblers to reduce their expenditure by about 46 per cent without limiting consumer choice.
Miller claimed the experiment done by the Behavioural Insights Team utilised experiences from real customers to ascertain what works in the bid to minimise the adverse effects of gambling.
More importantly, it offers practical options on how gambling operators can improve their prospects to ensure a positive consumer experience.