Earlier this month, London was home to World Regulatory Briefing: Responsible Gambling innovation conference. It had a huge focus on risk groups and how to protect them; teenagers to be more precise. They were discussing the risks of teenage gambling on eSports and came to some rather interesting conclusions. Here's everything you need to know about the World Regulatory Briefing: Responsible Gambling innovation conference in the next couple of paragraphs.
What exactly was discussed?
The focal point of this year's World Regulatory Briefing conference was teenage betting. With the rapid growth of eSports betting industry over the last couple of years, teenage betting became a much bigger problem. It is a clear fact that teenagers are having easy access to online betting. This is especially true if we take into consideration skin gambling sites. Sites such as CSGOLounge and DotALounge, which offer their customers ability to gamble with in-game items. Even though these sites did their best to regulate teenage gambling, that did not stop them at all. Still, the problem remains the same – teenage gambling is a modern upset that is causing quite a stir in the eSports industry.
Time to regulate teenage gambling
“In all the data we published, they are the ones who are at most risk. If you look at other research, they consistently come up. They’re just not as well matured and developed to make smart decisions. If they want to gamble, they will find a way to gamble. You shouldn’t have to encourage them.” Simo Dragicevic, CEO of BetBuddy
The main tone for the entire conference was set very early on. Everyone was agreeing on one thing – online eSports betting sites need to be regulated. Not just that, they agreed that all social gaming needs to be regulated more appropriately. Considering the fact that gambling is highly addictive, it comes as no surprise. We all know that teenagers are bad at making right decisions. Truth be told, their decision making is a mess. Ours was too when we were their age, for that matter! Just think of the things we'd do if we had access to online betting when we were in our teen years? Yeah, it would have been miraculous, right?
But luckily, these guys don't want to shut down the entire industry. No! They just want it to be regulated in a better way. Much better way. And, I believe we can agree that they are right. Teenage online betting needs to be put to an end.
“With things like eSports and skin betting, I think the solution is not prohibition, it’s regulation. If you don’t regulate, people will go to unregulated markets.” Pedro Romero, Head of Gambling Therapy
eSports Betting scandals
All of the things stated above is not really coming out of nowhere. It is completely understandable, and here is why:
Lately, eSports industry has gone through a whole heap of betting scandals. Many popular streamers / casters are facing serious charges for promoting teenage betting. Many sites had to be shut down, especially after Valves 2 waves of cease and desist letters. It all started with Valve's letters which opened up a rather sensitive public exposure, which resulted in more of the same. Afterward, scandals kept popping up one after another and were not only limited to CS:GO (as was the case initially) but to other competitive eSports as well. Games such as DotA, League of Legends and even FIFA were under betting scandals for better parts of last 2 months. Truth be told, things are calming down in recent time. eSports betting industry has suffered huge losses, hopefully, things will turn out to be better from now on. Finally, it's going to be an interesting eSports winter.