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The gambling industry and 1konto start consultations on financial tracking

Consultations with the participation of leading gambling operators have started, UK Gambling Commission and age verification and digital identification solution providers 1account ).

1account has launched a consultation to gather industry views on the use of digital technology to help players track their financial situation across multiple accounts in real time.

Citing the statistics of the Gambling Commission, which show that approx

percent of the UK population is gambling, which translates to

million people, while approx

With .5 million betting online regularly, the company says players with multiple accounts get less tools and help keeping track of their finances.

Additionally, 1 account has highlighted that the average UK player has three betting accounts while younger players likely have five or more accounts.

Ben Keirle, CEO and founder of 1account, detailed that when players have multiple accounts, it increases their likelihood that they will be "less aware of their overall financial situation".

While some retail operators provide tools to allow players to check their net deposit position - explaining the financial situation of their gambling business - Keirle believes this is not enough for people with multiple accounts.

Multi-account bettors, he says, are only able to consolidate their overall financial situation on their own, "if at all."

He explained: "We are currently consulting with the UK gambling industry, including betting operators, charities and the Gambling Commission, to obtain an opinion on how a digital ID can allow for better self-regulation of the betting business."

“Our consultations and proposals, which will result in the industry's first if adopted, are intended solely to put more control into the hands of individual players, supporting safer gaming and enabling operators to create better player accounts in management decisions.

"The UK gambling industry takes its obligations towards customers very seriously, but they can only act on the basis of the information they have about a person's actions," he noted. Ralph Topping, former CEO of William Hillwho currently serves on the advisory board of 1account, a provider of age verification and digital identification solutions. "

Speaking on SBC Digital Payments conference Earlier this year, Topping highlighted statistics showing 10% adults do not have photo ID and propose that the gambling industry should adopt a "helicopter approach" for verification. .

Commenting on the 1 account consultation, he continued: "The digital identity, linked to all of a player's gambling accounts, shows this person an overview of their net deposits, which means they can moderate their game accordingly and not only bet less at certain times, but know when they are in. able to play safely more ”.

Keirle added: "1account's digital identity takes the best of existing controls and takes them even further, integrating solutions with full protection of sensitive data and individual privacy, as well as providing a combined up-net deposit position no matter where the player bets."

The CEO believes that 1account's proposal will support the industry's drive to increase responsible gaming while serving "the interests of the players themselves by providing greater transparency and visibility to their financial position across all accounts and activities.

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