Playtech sights coordinated approach to regulation in Latin America critical

Playtech sights coordinated approach to regulation in Latin America critical

A coordinated approach to regulation is critical, despite the fact that it is difficult to organize due to the erroneous perception that conflicting interests are at play and the general negativity surrounding gambling,” Playtech asserts amid an examination of a range of issues affecting key Latin American regions. 

Survey Results 

This announcement comes as the gambling technology company releases the results of a consumer survey of 2,112 persons in Brazil, Argentina, Chile, and Colombia. 

The group sought to look into various topics, including current views toward gambling, user concerns, perceptions of regulation, and what is expected of operators, by publishing its full results in a 17-page ebook.

Colombians reported betting 68% of the time in the last six months, compared to 56% of Brazilians, 48% of Argentines, and 40% of Chileans. When asked for reasons for not doing so, a lack of curiosity came out on top, followed by a lack of knowledge on how to do so safely; a lack of trust, expressed by 13% of respondents; fears that the behavior is unlawful (4%); and a belief that it is unethical (2%). (three per cent).

Throughout, the need of ensuring players’ security is emphasized, most notably through the provision of enhanced security and clearly defined responsible gambling tactics.

Sergio Garcia Alves, leader of the Brazilian Bar Association’s Gaming Law Committee, stated that from a regulatory standpoint, the data indicate that customers desire education about responsible gaming and are dissatisfied with the amount or quality of information currently available. Consumers want more from the government, commercial sector, and civil society to close this gap, as evidenced by the need for stronger rules.

Stronger Governance Model Needed

Finally, there is a strong case to be made for strengthening the governance model governing these countries’ responsible gaming rules. According to a survey of more than 2,000 people across the region, 39% expect more local rules to safeguard players’ money and personal information. Additionally, consumers noted a need for a deeper understanding of different organizations’ offers, track records, and reputations.

In Brazil, 52% said that increased transparency regarding betting and gaming companies would instill greater customer confidence than 50% in Colombia, 40% in Argentina, and 4% in Chile (35 percent).

In all, 45% of respondents across the four countries listed having more information and tools linked to player protection as a high priority, followed by operator brand awareness and access to improved information on problem gambling.

On the subject of responsible gambling, 55% believe that brands should present clear information regarding problematic behavior, and 57% believe that transparent information about money and time spent during sessions should be included in overarching responsible gambling policies. Additionally, 48% of respondents across the four markets feel that enforcing additional rules and regulations will result in increased online safety and player protection (51 percent in Brazil, 50 percent in Colombia, 49 percent in Chile, and 44 percent in Argentina).

 

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.