Swedish iGaming giant LeoVegas has introduced a brand new responsible gaming tool in the form of personalized individual deposit limits for all UK customers. The limits are meant to promote safer gambling and limit the number of players who develop gambling problems by playing with the operator.
An AI based tool will be used to assess the affordability for each player individually at the time they make their first deposit and set the appropriate deposit limit for the account.
This tool will be used across all LeoVegas brands, including LeoVegas.com, BetUK, PinkCasino, and 21.co.uk. The company will also continue to collect data and adjust the limits based on any changes they notice.
In addition to the limits, players will also receive personalized messages from the operator, enticing them to gamble responsibly. LeoVegas is looking to use this tool to build better relationships with their customers and improve the effectiveness of their responsible gambling initiatives.
Regarding the program, Gustaf Hagman, the CEO of LeoVegas Group, said: “Safer gambling is one of our top priorities at LeoVegas. By ensuring a safe gambling experience we believe we are building more sustainable relationships with our customers.
“New technology has given us the power to refine these interactions and tailor them to our customers’ specific circumstances, making them more personalised and even more effective.”
It is interesting to note that LeoVegas have developed an algorithm based on risk prediction models to assess which players could be most at risk of engaging in harmful gambling behaviors. Along with limiting their deposits, the operator will also contact players who might be at risk via telephone or email to give them information and offer help if necessary.
The operator concluded: “Personalised deposit limits and on-site messages are examples of new initiatives using AI and innovative technology to make gambling safer.”
iGaming Operators Working to Decrease Problem Gambling
The issue of responsible gambling has been one that the iGaming industry has been taking very seriously in recent years, with operators, software providers, and regulators all coming together in efforts to decrease problem gambling and create a healthier ecosystem.
While various entities in the industry have been tackling the issue, experts now believe that only a coordinated strategy between all those involved can lead to real results, which the likes of National Council on Problem Gambling are now promoting.
While the likes of LeoVegas are introducing tools to promote responsible and healthy gambling, Kindred Group has just recently reported a significant decrease in harmful gambling revenues, and has pledged to bring that number down to 0% by 2023.
As the industry continues to grow, operators and regulators will continue working together on initiatives like this one which will reduce problem gambling and try to decrease the impacts of harmful gambling behaviors.
Regulators in many countries are now tackling the issue by decreasing maximum bets, banning fast spins, and introducing other measures to make gambling safer, although these measures aren’t necessarily ideal for all players and methods like individual deposit limits appear to make more sense in the long run.