UK Gamblers Need More Flexibility on Setting Deposit Limits
January 26th, 2020 3.00pm
Following a recent study conducted by the Behavioural Insights Team (BIT), the charity organisation GambleAware has agreed that it is high time gambling companies start offering their customers the flexibility to set their deposit limits.
The said study showed that high-value options available at online casinos encourage players to choose higher limits.
It remains to be seen what do operators doing business in the UK think about this proposal.
Checking Players’ Gambling Habits
Tools for setting deposit limits are available at most online gambling sites in the UK. The customers can choose between predefined options. These options are found in a dropdown menu and can be accessed during account registration. Available options vary from operator to operator, while the largest deposit limit reaches sums as high as £100,000.
The BIT study included 1,700 bet365 customers, and its goal was to analyse whether more options available right on sign-up would significantly affect players’ gambling habits. The information gained that way would benefit gambling operators, which could use it to minimise player risks.
The study was conducted to help the researchers find out if the currently available deposit limits impact players’ gambling habits. According to available information, the BIT intended to see whether this “anchoring” had any effect on players. The study was primarily focused on psychological effects, established once customers set their deposit limits.
Here’s What the Study Shows
In short, removing limits on deposit options could increase the effectiveness of deposit limits tools. But there’s a lot more to it.
Rosanna Barry, the Consumer Markets Principal Advisor at BIT, said the recently-posted report represented a culmination of their hard work aimed at discovering how deposit tools could be changed. She explained that certain modifications to the way online operators offer these tools could completely change players gambling habits.
All participants taking part in the study were essentially given three deposit limits options to choose from. The first group of bet365 customers used the currently available deposit limit tool, used at online gambling sites across the UK. The second group was given access to the maximum deposit limit of £250 but were given the option to type a higher amount if they wanted. The third group participants could choose the deposit limit themselves, without any sort of limitations whatsoever.
Researchers at the BIT used the results from the three groups and compared them against those of a control group, to discover the absence of a deposit option accounted for nearly half of deposit limits set by players on a daily basis.
Players could benefit from this change.
After thoroughly analysing the study results, the researchers recommended that gambling operators avoid placing any values in their websites’ deposit limit tools. They pointed out that customers should be presented with a blank text box, without any suggestions for a betting limit.
This should give more freedom to players, allowing them to set their own deposit limits. Doing so will most likely increase the effectiveness of the deposit limit tools.
Researchers at the BIT also suggested the blank textbox deposit limits should be listed in the Licence Conditions and Codes of Practice as the preferred mechanism for setting deposit limits.
The UK Gambling Commission revealed the details on the last month’s activities of its licensees last week, showing exciting figures. According to the said report, online gambling operators in the UK saw an increase in gambling activity but generated less revenue. The regulator revealed the detailed information to provide the government with a set of criteria ahead of the country’s Gambling Act’s planned overhaul.