The BGC, short for Betting & Gaming Council, has sought better cooperation from social media platforms in marketing their products and services. The basic case is that the frequency and reach of advertisements for betting services on social media platforms are out of control. Younger minds and those with problem gambling habits are at risk of becoming victims to the habit of participating despite not understanding the consequences.
Cooperation is required to make sure that the reach is well within control and frequency is leveled to the acceptable stage.
New measures by the BGC suggest pressure needs to be applied on social media platforms to ensure that their activities align with the mission of tackling problem gambling, particularly among young minds. The ones to remain at a higher risk are those who are below 25 years of age. Displaying advertisements to them is sensible only if platforms can table substantial evidence that the age is verified and it is safe to do so.
Michael Dugher, the Chief Executive of the BGC, has written a letter to Lucy Frazer, the Cultural Secretary. Michael has urged that there is a dire need to bring a marketing suppression scheme to help 300,000 people from getting influenced by direct marketing activity. These are said to be registered with GAMSTOP.
Dugher has highlighted that the goals are not possible to be achieved unless there is cooperation from all the relevant parties. This includes social media platforms at the top. They have also noted that relevant functionalities are needed to make things happen in their favor. Crypto sports betting is considered no exception when the industry talks about controlling the marketing reach of gambling activities. The ultimate goal remains to prevent those with the most fragile mindset from getting unduly influenced by advertisements.
The BGC has taken all the possible measures that it could take. For instance, it has ensured that advertisements are seen only by those who are legally allowed to bet on regulated products. The audience target set by them is people who are above 25 years.
Social media platforms must step up their efforts to provide evidence of the accuracy of the age of their users. Another measure taken by the BGC is a ban on football clubs from using their accounts on social media platforms to directly market betting odds and sites. These are popular youngsters the most and hence, carry the potential of influencing the most as well. In other words, the social media followers of football clubs are likely to be negatively influenced by advertisements if restrictions are not imposed.
The UK’s regulated betting and gambling industry has seen 0.3% of 22.5 million monthly active adults suffering from problem gambling. Small, but the number is concerning even if it exists a little bit. Meanwhile, the industry is seen contributing £7.1 billion to the UK economy and generating £4.2 billion in taxes. Approximately 110,000 jobs are supported by the UK gambling industry.