Kicking off a new year often presents an unparalleled level of optimism about what’s to come. This time, the world is still recovering from the ravaging impacts of the COVID-19 pandemic while trying to adjust to a new normal. There is certainly a lot to look forward to in 2022.
However, when it comes to responsible gambling, the outlook does not seem quite as optimistic. The past year was filled with several amazing developments with regards to ensuring problem gambling is not as big of a problem which is great for everyone. Even so, 2022 will likely be a year when we will need to double down on those efforts.
The COVID-19-Fueled Surge in iGaming Activities
While many industries and businesses especially those with land-based operations were hit hard by the pandemic, many online businesses thrived. Online casinos and sports betting which were already doing well got a massive boost. The pandemic-fueled expansion of these gambling activities not only acted as a great way for gamblers to stay entertained but also served as a lifeline for many gambling businesses.
Unfortunately, things seem to have gotten out of hand at some point. Gambling services are more accessible than ever before and not all of them are regulated. The increased demand is a sign that cases of gambling-related harm are likely to spike further than they already have. Cases of both social and financial problems have always been a key concern when it comes to the gambling industry. These concerns have only gotten more pronounced.
The Changing Gambling Landscape
Thanks to its strong reliance on modern technologies, online gambling is an ever-evolving sector. It just keeps getting better and better. This is not necessarily a good thing especially with regards to what it means for people who are at risk of being victims of gambling-related harm.
This rapid evolution causes problems when it comes to crafting appropriate regulations to ensure consumer protection. While some of the most reputable iGaming brands often try to keep their customers’ wellbeing in mind, there are still lots of businesses that value revenue and profit above all else.
Regulatory systems across the globe’s various gambling markets are not flexible enough to change as quickly as needed. That is at least the case now. As such, this is one of the areas that will hopefully receive the required amount of attention. As always, the goal is not to take gambling away from enthusiasts and fun-lovers – it is all about keeping everyone safe.