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A lot is said and written about iGaming these days, without many people understanding the actual meaning and scope behind the industry.
Despite becoming more and more popular, the term can be confusing. Is "iGaming" used to describe only online casinos or is it unique to online sports betting? Or is it an umbrella phrase for any gambling that is conducted online?
Dmitry Belianin, CCO, Parimatch International, shares the ins and outs of iGaming and tries to resolve any misunderstandings in consumers' minds. He also talks about a responsible approach towards iGaming, while removing the stigma surrounding it.
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"iGaming helps with socialization as it brings people together" - Dmitriy Belianin
Nowadays, iGaming has gained popularity in a number of countries, and India is no exception. Statistics show that the number of online gamers in India grew from nearly 250 million gamers in 2018 to about 400 million by the mid of 2020.
Nevertheless, today there are still a lot of concerns people have regarding iGaming. In the following article, we will try to break the stigma around the gambling industry and delve deeper into the topic.
Exploring the potential of iGaming in India
iGaming stands for internet gaming and includes all kinds of sports betting, internet casinos, poker, and esports betting. Currently, the Indian online gaming market is growing at about 30% yearly, making it the fastest-growing sector in the entertainment industry. The market alone has over 400 million customers.
According to the AIGF, earnings from the online gambling industry are around $1 billion yearly. The source also predicts that the industry will create up to 50,000 jobs by 2025.
The interest of the Indian audience in iGaming will continue to grow further, gaining more and more momentum, which is no surprise as the nation is famous for its love of sports.
iGaming addiction: Debunking the myths and breaking the stigma
Though for many people iGaming is an enjoyable activity that brings positive emotions only, some individuals still develop a gambling addiction. Excessive gambling can drain finances, ruin personal and professional relationships, and harm the gambler’s mental health.
According to statistics, 2-7% of youths develop a gambling disorder, compared with about 1% of adults, and many gambling disorders begin in adolescence. That’s why it’s critical to identify the problem at the early stages before it brings any negative effects into your life.
Overall, gaming addiction is similar to other addictions. It comes in different forms and shapes and is often compared to the progressive illness that can evolve into a huge problem if not detected in time. That’s why problem gambling is much easier to prevent than to recover from. As they say, prevention is better than cure.
Fortunately, for most people gambling is an easy and accessible form of leisure activity. It’s a great way to have fun, escape from the everyday boredom, and bring more positive emotions into your life.
Today, iGaming is perceived not just as a source of income but rather as a great way to relax and reduce stress. When you are well aware of how to control your emotions, gambling brings you nothing but joy.
Today, more and more global gaming companies adhere to the principles of responsible gaming and provide specific tools that help to make users’ betting experience both safe and fun. Below you can find some examples of such tools.
Limit-setting tools
Deposit Limits: A way to limit the amount of money deposited on a site on a daily, weekly, or monthly basis. Once the maximum amount has been deposited, the player will not be able to deposit any more money on the site until the time period has elapsed.
Time Limits: This responsible gambling tool limits the time spent on an online gambling site. Once the user has used up their allotment of time, they will be forced to take a break.
Loss Limits: Setting a loss limit is another variation on a deposit limit. Once a player loses a certain amount of money, they automatically will be logged out and will be blocked from playing any more games for a predetermined period of time.
Time Outs: These can be set to enforce a predetermined amount of time away from the tables after a certain threshold has been met, such as losing a hand or a big pot. Time outs are a great way to step away and clear your head, especially if you start to find yourself chasing losses.
We at Parimatch take the problem of gambling addiction seriously. In addition to providing our users with effective and practical limit-setting tools (spend limit, session time limit, deposit limit, etc.), the platform also features a test to estimate the degree of users’ involvement in gambling activities. If a user is predisposed to gambling behavior, some platforms advise a “time-out” approach.
‘Self-exclusion’ option
Furthermore, if the occasional indulgence becomes a daily obsession, the platform offers a voluntary ‘self-exclusion’ option. Being self-excluded means not being able to create new accounts with the platform or operate through any pre-existing accounts and/or deposit funds.
In order for the game to remain an entertainment rather than a threat, we already have two opportunities for the player to self-restrict: for a week—using the self-restriction button, and for a period of 6 months to 3 years—by writing a statement in accordance with the rules and current legislation. At the same time, you can apply for psychological support, and gambling therapy experts will provide it.
Rigorous age-verification methods
Parimatch has rigorous age-verification methods to ensure that anybody who plays is of legal age. This means that any player whose age cannot be verified will be unable to participate. All our advertising campaigns are targeted at audiences aged 18+ or 21+ only, depending on the geographical region and the respective regulations.
What’s more, underage players are prohibited from entering the Parimatch platform. If they still manage to get in somehow, they will indeed be discovered and banned, and the account will be blocked. To register, users must input correct data. A real colorful clear photo (not a scanned one) is required to confirm the personal data. Images of low quality aren’t accepted.
Thus, any blurry images, cropped or edited, impede the user’s account verification and registration.
Wrapping up
Though iGaming is surrounded by mystery and curiosity, for the vast majority of people it’s still a fun activity that doesn’t become a problem. In addition to being a great opportunity to win some extra cash, it’s a lucrative recreational activity that enables you to pick up skills while betting.
You learn to be more observant and mentally task your brain. Different winning strategies and tactics help you to exercise mentally. Also, iGaming helps with socialization as it brings people together.
It is important for us to minimize all possible risks and protect each player from ill-considered decisions and actions. The status of the #1 global gaming platform requires Parimatch to be responsible primarily to thousands of our players. For us, the principles of responsible gaming is daily work that we do with pleasure.
