DraftKings becomes the latest sports betting provider to channel resources towards the enhancement of responsible gaming. As much as possible, bettors should be made aware of the psychological effects that gambling can have. Since it is like any other habit, controls should be set up at the individual as well as provider level to ensure that players do not fall into addiction.
At the time of making the announcement, DraftKings’ CEO, Chairman and co-founder, Jason Robins, reiterates his company’s commitment in providing customers with a safe betting environment. While the industry generally focuses on entertaining customers through gaming and betting, it is important to also think about how to ensure that the business is sustainable in the long run; encourage them to adopt responsible gaming.
The commitment by DraftKings is of a financial nature and will be facilitated by the International Center for Responsible Gaming’s (ICRG) Fund. The sports betting provider will avail the financial muscle required for the organization to conduct relevant research in support of sports wagering. With finances at their disposal, the ICRG will be able to competitively call for proposals from global researchers who would like to take part in the search for solutions to problem gambling.
The Funds core mission over time has been to look into research that will make betting a safe exercise for the players. Ultimately, the fund will use scientific outcome and proof that helps the average player to understand how problem gambling affects their lives and ways to prevent it. They are currently in the process of developing responsible gaming strategies that have been reviewed at the customer level.
Robins and his team are happy that they can positively contribute to the quest for a lasting solution to problem gambling. From starting and running a business for the profits, the gambling giant now has a new side that is committee to player welfare. By getting involved at this stage of the development work of International Center for Responsible Gaming to fund their mission, DraftKings is making a move that will benefit the entire industry.
The ICRG is the first organization in the United States to take on this mission. Its core mandate is to facilitate the search for a solution to problem gambling. Through bringing together brilliant research minds from around the world, the fund will build capacity that will enable them to develop a best practices manual for sports betting.
Some of the topics that the fund has already identified as possible research areas include;
- How sports wagering differs or compares to other gambling forms
- A study of the existing programs and interventions on responsible gaming
- Evaluation of problem gambling prevalence across demographics
Executive Director of ICRG, Dr. Russell Sanna, feels greatly honored to be working with DraftKings on this initiative. Sanna has revealed that the betting provider’s contribution to their cause will go a long way to meeting the objectives of the research work that is already ongoing. According to him, this is a critical time for the market since many jurisdictions around the US are pushing to have gambling legalized.
It is important that this research is undertaken and there is no need to postpone when it is going to be done because the truth is that it is mandatory. Cutting-edge research requires big funding and that is why Sanna appreciates the onboarding of DraftKings. For the sportsbook king, supporting scientific research, training and developing game changing betting platforms are key principles that must be intertwined for the industry to remain vibrant.
Apart from partnering with others like ICRG that have a commitment to responsible gaming, DraftKings deliberately tailors its products to enhance player safety. They are currently equipping their customers with key industry resources, gaming tools, and services that are aimed at safeguarding the welfare of players. Some of these tools include self-exclusion, limit setting, and cooling-off periods.
For customers of DraftKings that have linked their email addresses and social media platforms to their account, the iGaming provider utilizes these channels to remind players of their duty to uphold responsible gaming conduct. Platinum membership on the National Council on Problem Gambling and American Gaming Association makes DraftKings proud of its power to influence customer behavior in the industry.
With the fund streams already open, the floor will soon be opened for researchers from some of the world’s leading academic institutions. If projections made by industry experts are anything to go by, the last batch of applications will be received in September 2021. It is not yet clear how many research teams will be funded but the independent Scientific Advisory Board of the ICRG will review all the submissions before selecting a recipient.
Upon being declared as the select recipient, the winner of the grant will be contracted for a period of three years because the project is supposed to wrap up in 2024. This means that the industry has another 3 years or so before they can set their eyes on the results that will come out of the research.
About the partners
When DraftKIngs was created, the brains behind the platform intended for it to use it to fan the embers of sports betting. Sports fans in New Jersey were for the first time exposed to daily fantasy sports, digital media and regulated gaming.
By using multiple channels to enhance the betting experience for its fans, the provider is way ahead of the competition. DraftKings runs operations in 17 countries of the world and its products which comprise of gaming technologies and gaming entertainment are accessible across various devices.
The International Center for Responsible Gaming has existed since 1996 but it was known as the National Center for Responsible Gaming in its early days. A nonprofit agency, the ICRG has already set up an area of study which the entire gambling market will gain from. The current programs are aimed at those who have been affected by problem gambling as well as those who must be protected from suffering the same fate. Problem gambling affects not only players but their families and the communities they live in.