Gambling industry and 1account begin financial tracking consultation

A consultation has begun involving leading gambling operators, the UK Gambling Commission and age verification and digital ID solutions provider 1account.

1account initiated the consultation to collect industry opinions on the use of digital technology to assist gamblers with tracking their financial position across multiple accounts in real time.

Citing statistics from the Gambling Commission, showing that around 35% of the UK population gamble, translating to 24 million people, whilst around 10.5 million regularly bet online, the firm has argued that gamblers with multiple accounts are given less tools and assistance with tracking their finances.

Additionally, 1account has highlighted that the average UK gambler has three betting accounts, whilst younger gamblers are likely to have five or more accounts.

Ben Keirle, CEO and founder of 1account, detailed that when players hold multiple accounts, this increases the potential for them to be ‘less aware of their overall financial position’.

Although some individual operators provide tools allowing players to see their net deposit position – explaining the financial position of their gambling activity – Keirle believes that this is not enough for those with multiple accounts.

Bettors with multiple accounts, he argues, are only able to consolidate their overall financial position themselves,‘if at all’.

He explained: “Right now, we are consulting the UK gambling industry, including betting operators, charities and the Gambling Commission, for their views on how digital ID can allow better self-regulation of betting activity.”

“Our consultation and proposal, which will result in an industry first if adopted, is aimed exclusively at putting more control in the hands of individual players, supporting safer play and enabling operators to make better player account management decisions.

“The gambling industry in the UK takes its responsibilities to customers extremely seriously, however they can only act on the information they themselves hold about a person’s activities,” remarked Ralph Topping, former CEO of William Hill, who now sits on the advisory board of 1account, a provider of age verification and digital ID solutions.”

Speaking at the SBC Digital Payments conference earlier this year, Topping highlighted statistics demonstrating that 20% of adults have no photographic ID, and put forward the notion that the gambling industry should take a ‘helicopter approach’ to verification. 

Commenting on 1account’s consultation, he continued: “A digital identity, linked to all a player’s gambling accounts, shows that person an overview of their net deposits, meaning they can moderate their play accordingly and not only bet less at certain times, but know when they’re in a position to safely play more.”

Keirle added: “1account’s digital identity takes the best of existing controls and pushes them even further by integrating solutions while fully protecting sensitive data and individual privacy, as well as providing a joined up-net deposit position regardless of where a player bets.”

The CEO believes that 1account’s proposal would support the industry’s drive to enhance responsible gaming, whilst also serving ‘the interest of gamblers themselves by delivering greater than ever transparency and visibility of their financial position across all their accounts and activities.

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