Playtech, a gambling software supplier founded by Teddy Sagi in 1999, utilizes data analytics and risk identification to help players gamble responsibly. The company provides several services in the iGaming industry, including software for online casino games and sports betting.
Earlier this month, the company announced its partnership via funding with the International Center of Responsible Gaming (ICRG) to study the impact of gambling on under-served groups in the U.S. and Canada.
Playtech partners with International Center of Responsible Gaming to fund responsible gambling research
Playtech is backing the scientific research program of ICRG. The ICRG, founded in 1996, serves as the only funding source for scientific research on gambling disorders and responsible gambling in North America.
The ICRG is overseen by an independent Scientific Advisory Board composed of addiction specialists. This research study on under-served groups in the U.S. and Canada is designed to enhance gamblers’ protection.
The investigation will allow researchers, regulators, and policymakers to understand how to best promote responsible gambling measures while providing a safe gambling environment.
Arthur Paikowsky, president of the ICRG, expressed excitement in a statement, “We are immensely grateful for Playtech’s donation, which marks a significant step towards improving our understanding of gambling-related health issues among indigenous communities in the U.S. and Canada.”
Jonathan Doubilet, VP of US Business Operations at Playtech, also commented on the partnership, “Playtech is committed to creating a safer gambling environment and is a strong supporter of research that helps reduce gambling-related harm and enhance player protection measures. We are delighted to be able to support the ICRG’s research, which will help advance player protection for vulnerable groups in the U.S. and Canada.
Increased legalization puts problem gambling in spotlight
Problem gambling, also known as “gambling addiction” or “gambling disorder,” is negative behavior that is harmful to a person’s health and daily life. Every gambler is susceptible to developing a gambling disorder.
About 85% of U.S. adults have gambled at least once in their lives, per Playtech. The increased legalization has only added to the number of problem-gambling cases. Companies such as FanDuel, DraftKings, BetMGM, and Caesars have all been pushing to expand online sports betting.
Online betting means that all gamblers have constant access to a casino in their back pocket. The states where the practice has become legalized have also seen an increase in people calling gambling hotlines.
Since the COVID-19 pandemic, adults and children especially have been subjected to gambling promotions via television broadcasts and online ads. For those with existing gambling problems, it’s just worsening the issue.
According to the National Council on Problem Gambling (NCPG), 2.5 million U.S. adults (1%) are estimated to meet the criteria for a severe gambling problem in a given year. Another 5-8 million (2-3%) would be considered to have mild or moderate gambling problems.
NCPG estimates that the annual social cost of problem gambling is $14 billion. These costs include job loss, healthcare spending, bankruptcy, and criminal justice expenses. The estimation is based on the 1999 National Gambling Impact Study Commission and updated to account for inflation.
