Should Online Casino Websites Require Risk Warnings, and Knowledge Assessment?

[uneng]

I don't think it would work, because people willing to gamble aren't interested in answering to virtual quizzes, neither to agree and disagree terms. The KYC process itself is already painful enough to go through, now imagine having to answer a dozen of questions before being able to bet. Casinos introducing this kind of terms would be in disadvantage compared to other casinos, because gamblers would immediately reject playing at such bureaucratic casinos.

People are looking for accessibility and easiness nowadays. Anything taking longer than 5 minutes to sign up is already discarted by internet users. Businesses know about it, so they try to demand less informations as possible during the sign up procedure.

[Wexnident]

~

100%. Rather than slapping that wordy ass TOS of theirs in my face which I would never read, would probably be a lot better to include some OBVIOUS warnings that despite being obvious, still escapes some gamblers for some reason lol. Ofc, still include the TOS, but add the big warnings as well. And maybe warnings on certain spending points every session. Pain in the ass, yes but at least it serves as a general warning.

As for the knowledge assessment quiz, I highly doubt it'd be effective. Gamblers would just press random stuff to proceed. And if it was required for them to know that stuff, kind of serves as a way for users to just leave the casino for doing that. So nothing too difficult, but pretty obvious as well in terms of setting up warnings.

[Sandra_hakeem]

• Users must acknowledge prominent risk warnings stating they could lose all their money
• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.

I'm not against the knowledge assessment, quiz and whatnot, but this doesn't make any difference. Since those warnings could possibly anticipate a two-way reply from the user, who's gonna be so daft to click on "disagree" or whatever the next option might be? This would definitely be more of a formality than a regulation as it doesn't necessarily restrict anyone.[/list]

I think this will likely be the future of gambling, and maybe the regulators will be the ones to force it into happening because many casinos are well aware that many of their potential clients will fail things like the mandatory knowledge assessment quiz, and they will not be able to gamble, which means they will be losing customers, so they will not be quick to implement some of these.

"What's good for the goose, they say is good for the gander" You don't put up obnoxious policies where you're probably getting a cut; the little sumptuous pieces of icings and cakes do not interfere regardless.
Of what purpose will it be anyway? You can't tell a sane person to not haul himself into a pit that's obviously seen. If they insist, you can't stop them as they may leave, but decide to come back when there's nothing to stop them.

[Oluwa-btc]

• Users must acknowledge prominent risk warnings stating they could lose all their money
• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
  
  

Honestly I like this idea and assessment aiming to give a low indulgement of gambling activities, more especially knowing that you are prone to major risks of loosing alot of funds, and the mandatory assessment quiz can't be that necessary cause alot of gamblers can still pass this test but then bearing in mind that you got to make use of the least 2% to 5% as the case may be in gambling is what matters .

[Mpamaegbu]

• Users must acknowledge prominent risk warnings stating they could lose all their money
• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
• A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

Those texts should be clearly written and made to pop up whenever a bet is to be made. It will absolve casinos of any blame as disclaimer. We know how people turn around to blame others when things take a dive but praise themselves when they get successful out of their decisions. I think it was even Binance that started it in the crypto space in Futures trading. It was the first exchange I noticed it on, anyway. Now, it's rampart across exchanges. If crypto exchanges could come up with that, I don't see why it shouldn't be mandatory for casinos.

[viljy]

I think that most gamblers will not want to "take the exam" before playing, and casinos with such requirements will lose their customers. Therefore, I doubt that it is advisable to introduce such rules. After all, since the players must be of legal age, therefore they are already capable, therefore they can be responsible for their decisions and actions, including those related to finances.
Perhaps the casino can offer the player to optionally confirm thesis 2 and necessarily agree with thesis 1. Thesis 3 should be deleted or turned into an optional training demo.

[kotajikikox]

• Users must acknowledge prominent risk warnings stating they could lose all their money

I am pretty sure a version of this is already included in the terms and conditions of the casino. But just like terms&conditions, no one would really read it or take it seriously. But still it is best if we implement this and remind the gamblers at all times.

• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.

i don’t think this will be accepted at all. Bettors wouldn’t even know sometimes how much they want to bet and they would want to bet more than 10% most likely at some point so they won’t shoot themselves in the foot by agreeing to this even if it is the ideal scenario to avoid financial loss.[/list]

[Lida93]

• Users must acknowledge prominent risk warnings stating they could lose all their money
• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
• A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

All these are not necessary because it really doesn't have the wherewithal to discourage or stop a chronic gambler from going addictive by spending more. What I see here is giving those gamblers with gambling problem a window of opportunity to jump the gun by having into create multiple gambling accounts with almost every online casino just to make sure they be able to gamble to their satisfaction.

On the other hand, despite being an advocate of responsible gambling, the restrictions for me goes against the right of persons to privately spend and enjoy their hard-earned money as they wish. For responsible gambling is basically not just about knowledge but self discipline because I have seen a lot of gamblers with good knowledge of the negative sides of gamble but still goes on gambling recklessly due to a lack of a locus of self discipline

[EluguHcman]

If there must be warning themes in gambling for the casinos to regulate proper gambling habits on the gamblers, I think the warning should come during the players registration on the casino sites to earlier stay at alert and not at every course of placing bets because the potential risks should be formally be informed because the stage of placing the bet.

In other words... The warning theme could also be regarded at every course of placing every single bets to be reminded of the risks just as the centralized exchanges has always given users red alert warning when using the P2P feature that we should not release the coins to buyer when payments has not been confirmed received otherwise, they won't be responsible for any losts.

[lovesmayfamilis]

I would be happy to see such warnings on casino sites, but I highly doubt that the casino itself would welcome such warnings. Although the casino has a service to freeze accounts at the player's request, I don't think they care much about the players' finances, quite the opposite. Any casino is set up for its profit. See how easy it is for them to make it easy for players to spend their large sums of money while easily tracking their deposits, and how carefully they check accounts when they have to pay out large winnings.

[ethereumhunter]

Casino can do what exchanges do to their members before they start playing gambling and that will depend on their policy. But I am not sure if casino will do like that as they may give a reason that they accommodate people to have fun and relax for a while after they do many activities.

Their members should responsible themselves when playing gambling and realize that playing gambling excessively can makes them in trouble. Besides that, casino already have excluding ourselves feature for their members so they can use that to avoids playing gambling excessively. But not many gamblers use that feature because they found an exciting moment when gambling.

[retreat]

I don't think that casino platforms would enforce such risk warnings to players since it is too much hassle for players and the potential that they could lose potential players. Also, the purpose of people playing at online casinos is to have fun, and if they understand that, then they should understand the risk that they will lose their money. It should come back to each person that when they gamble, it means they need to maintain limits, and when they get addicted or lose a lot of money, it means they are responsible for it.

[Perfectbaby]

• Users must acknowledge prominent risk warnings stating they could lose all their money
• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
• A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

There is need for that also, this is to create awareness to newbie gamblers or traders who doesn't know what they are doing or let say is their first time trading and or involving themselves to gambling, with this risk warning they should be able to know that they are going to risk their money while gambling.

If you ask me i will suggest that this warning should be displayed immediately they click on any deposit address from the gambling site, so that before they copy their address they would read this warning even before making deposit to the gambling site and also, this same warning should be displayed immediately the deposit have been confirmed before they moved down to make bet or gamble.

[Zlantann]

• Users must acknowledge prominent risk warnings stating they could lose all their money
• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
• A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

All these rules if adopted will be targeted at making gamblers know the risks associated with gambling and to avoid gambling addiction or overgambling. But these rules can be bypassed since gamblers can give wrong information without being caught. The casino will hardly know how much a gambler earns.

Casinos will not be comfortable with these rules because it will make signing up to their platform complex which might discourage gamblers from using online casinos.

A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

I do not think this is necessary.

It might be necessary to restrict underage gambling. Some children might not be able to answer these questions correctly since they lack a basic understanding of gambling. But in this age of artificial intelligence, they can easily get the answers within seconds.

[Oshosondy]

I don't think that casino platforms would enforce such risk warnings to players since it is too much hassle for players and the potential that they could lose potential players.

Gambling sites will not want to do that. They will prefer to just include in their terms of service how gambling should only be seen as something fun and not something else. But enough regulations are right to enforce the gambling sites to do it. If the regulators enforce something like this, the gambling sites will have no option than to do it.

Also, the purpose of people playing at online casinos is to have fun, and if they understand that, then they should understand the risk that they will lose their money. It should come back to each person that when they gamble, it means they need to maintain limits, and when they get addicted or lose a lot of money, it means they are responsible for it.

You get it right. There nothing hidden about gambling. Even those that are gambling for the first time will know that as they are gambling, they can lose money as they are also wishing for money.

[EarnOnVictor]

I don't support this and if any companies are doing it, they are only deceiving us, probably their regulators mandated it, it's not sincerely implemented because all that I've witnessed are only peripherals that are easy to pass, so what's the point? I prefer a more widely reached gambling awareness in terms of the pros and cons education. If they can sensitise this way, it will be natural, sincere and go a long way in making the intending and old gamblers foreknow the risks involved and also evaluate themselves respectively.

[Dr.Bitcoin_Strange]

Well, in my opinion, whether the casino implement such rule or not, it will not reduce the risk of being addicted to gambling because the only reason why these rules should be applied by the casino is to let new users be aware of what they are going into and also not to be held accountable for customer's lose
 We all know that for ages now that gambling has been in existence, no body has ever held casinos responsible for their losses because it's widely known that winning gambling is a probability. People decide to gamble irresponsibly and become addicted, so I do not think that implementing such rule can actually help.

[Davidvictorson]

I think this will likely be the future of gambling, and maybe the regulators will be the ones to force it into happening because many casinos are well aware that many of their potential clients will fail things like the mandatory knowledge assessment quiz, and they will not be able to gamble, which means they will be losing customers, so they will not be quick to implement some of these.

I have looked at the comments while most of us have agreed with the first point, the second and third points have dissenting opinions. For the second points, I agree that it may not be feasible because it will go antithetical to the revenue generating strategies of the casino. I can say that those who are have VIP status bet more than 10% of their income. For the last point, it is basically the terms of service, and if you want to gamble there you should do the quiz so that when you go against the casino terms of service, the fault will be totally yours and not that of the casino. The only downside of this is that, we would see these social media influencers, start putting out the questions and answers for people to use in passing the assessment test.

[CryptoHeadlineNews]

so I’m sharing it here. Do you think crypto trading regulations, similar to what Coinbase UK reportedly requires before allowing users to trade, should be adopted by online casinos? For instance before placing a bet users could be required to pass a knowledge assessment that includes questions such as:

• Users must acknowledge prominent risk warnings stating they could lose all their money

So of what benefits will that be, or do you think majority of the people who gamble don't know the risks involved? Or Do you think by so doing, it will reduce the rate at which people gamble either responsibly or irresponsibly on these gambling platforms? Because, on the contrary, such measure can never completely proffer a solution to people not risking their money to gambling.

• Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.

No, I do not agree to the opinion you gave above, because people should be free to gamble whatever amount they wish to, because the truth of the fact about gambling is that not every one is a low risk takers, and it's been working for them, and as such, as an individual and gambler, it's should be your responsibility to diverse which means works best for you.

• A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.

No, I do not also agree to this opinion of yours, because people should be allowed to gamble without a compulsory test of knowledge. Gambling is not a college degree program that you should force people to pass a quiz before given access, when you are literally not going to provide the fund that will be used for gambling.

[Samlucky O]

It’s not uncommon for casinos and sportsbook to warn there customers or patronizers on having to gamble responsibly. I find it to be of utmost necessity but, the warnings don’t come with enough severity for gamblers to take heed of it. Gamblers would probably ignore it 99% of the time but, at least the casino or sportsbook played a part and that’s the most important part to it.
Gambling is risky when not done respectfully or not properly managed. It could build you and could also reck you. It all depends on how you approach it.

I surely agree with you that it's uncomon for sportbook or casino to warn their customers to gamble responsibly. Because if they make such statement,  that means they  don't want more customers. since we all know they make their money from losses made by people. It is obvious that casinos make money from peoples loses even if they don't come phisicaly to say it out. All what they need is for you to increase your betting stake and increase your chance of lose than win. So how can it be possible to allow them stop when you know you are gaining from the loses?