Expert Insights on Enhancing Social Responsibility Practices in the Swedish Gambling Industry
Discover the key challenges facing Swedish gambling operators in promoting social responsibility, with insights from Maria McDonald, Partner at Nordic Gambling.
As the Swedish gambling industry continues to evolve, operators are increasingly prioritizing social responsibility in their business practices. However, there are still key challenges to be addressed in promoting responsible gambling practices and ensuring that vulnerable individuals are protected.
Gambling.Re discussed these topics with Maria McDonald, Partner at Nordic Gambling, a renowned expert in the field.
According to Maria McDonald, one major challenge is the risk of losing customers if players are limited in their gambling. This can lead to players moving on to the next operator, or worse, turning to the black market. It is becoming increasingly important for locally regulated markets to allow for attractive products and market conditions so that gambling can be channeled to licensed operators. Gambling operators have a responsibility to work closely with regulators and legislators to establish trust and mutual understanding of the goal to protect players.
To better address social responsibility challenges, McDonald suggests updating legal and regulatory frameworks in Sweden to create a more attractive market for players to stay with licensed sites. For example, allowing retention bonuses in addition to welcome bonuses could help prevent players from shopping around for different bonuses, which makes it more difficult for individual operators to follow their customers' gambling patterns and detect problematic signs.
Collaboration with other stakeholders, such as regulators, charities, and advocacy groups, is also essential in promoting responsible gambling practices. However, McDonald notes that the industry is very differentiated, and gambling operators often have different views on how to approach social responsibility. To be taken more seriously amongst people outside the industry, McDonald suggests that operators should start speaking with one voice and show that social responsibility is taken seriously.
Finally, gambling operators must ensure that their marketing and advertising activities are conducted responsibly and do not target vulnerable individuals or encourage excessive gambling behavior. McDonald recommends the creation of an industry-wide code of conduct for marketing to ensure that operators are held accountable for responsible advertising practices.
As the Swedish gambling industry continues to grow, it is essential for operators to prioritize social responsibility to ensure the long-term sustainability of the industry and to protect vulnerable individuals from the harms of excessive gambling.