Online gambling’s increasing popularity and use have sparked calls for stricter regulation and oversight, but with technological advancements and strategic mergers driving the industry forward, officials are struggling to maintain control.
Gambling Advertising Concerns
With the rising popularity of online sports betting, people are beginning to demand stricter regulations on betting firms and their use of social media to promote their gambling platforms.
Content Marketing
Researchers at Bristol University recently released a report stating that gambling advertisements that use social media trends to create what they call “content marketing” have significantly increased.
Marketing to Children
The major problem with content marketing is that children will often not recognize the posts as advertisements, causing them to follow the company and increase their chances of gambling on the site when they turn eighteen.
Author’s Speak Out
Dr. Raffaello Rossi, a marketing lecturer at Bristol University and one of the report’s authors, said, “All ages were quite bad at recognizing it as advertising, but children and young people were much less able to distinguish it.”
Sneaky Perceptions
Dr. Rossi furthered her point by saying, “It’s a sneaky way to get people engaged and create a positive perception towards gambling.”
Banning the Ads
The researchers say that the best solution would be to ban gambling content marketing or, at the very least, clearly label these advertisements to stop misleading promotions.
A Major Increase
Over the last few years, the European casino gambling market has grown significantly, generating USD 115.39 billion in revenue with a forecasted CAGR of over 5%.
The Gambling Shift
This major growth in Europe’s gambling market is due to a major shift from people gambling and placing bets in-person at casinos and switching to easily accessible online platforms where they can still bet real money.
Why The Boom?
Online gambling is becoming so popular due to advancements in technology, continued growth in internet access, and the rise of betting popularity among sports fans.
10-The EGBA
In response to the increase in gambling, the European Union has created The European Gaming and Betting Association (EGBA), which hopes to promote a sustainable and responsibly regulated iGaming sector,
The ECA
Previously, the main organization that monitored gambling in Europe was the European Casino Association (ECA), but with the rise of online gambling websites, the EGBA was created.
Leading the Pack
The United Kingdom is currently leading the European gambling market thanks to favourable regulations, high disposable income, and the popularity of major casino games.
The UK Gambling Commission
Despite its major role in the European gambling market, the United Kingdom has the UK Gambling Commission.
Strict Regulations
The UK Gambling Commission enforces strict regulations that attempt to promote responsible gambling and set a regulatory framework that could become a model for other European countries.
Technological Advancements
However, due to recent technological advancements, the UK Gambling Commission will have its work cut out for it.
Evolving the Industry
Technologies like blockchain, IoT, and VR are rapidly developing the gambling landscape, and companies are using these advancements to enhance the online gambling experience.
Mergers and Acquisitions
While technology is advancing to enhance user experience, major gambling companies are also repositioning themselves with mergers and acquisitions in an attempt to consolidate their market power and gain a competitive advantage.
International Criminal Network
A recent operation in London also revealed a mafia network involved in gambling and betting that uses over 35,000 bank accounts and numerous websites to embezzle funds and launder money.
Accusations Piling UP
Due to this revelation, there have been many accusations placed against the UK government for turning a blind eye towards the network’s illegal activities in exchange for tax revenues.
The Struggle Continues
With the rapidly changing market of online gambling and the struggle to regulate it, it seems government officials across the globe will continue to struggle as they attempt to keep up with a market that changes faster than laws can be created.
More Articles Like This…
Broken Britain: 12 Reasons Behind the UK’s Decline
Say the Unsayable: 10 Occasions When Farage Spoke His Mind About Britain
The post “Sneaky” – Researchers Spotlight Online Gambling Advertising Strategy and Its Effect on Children first appeared on Edge Media.
Featured Image Credit: Shutterstock / vectorfusionart.
Keegan Leighty is a committed writer known for his impactful work in bringing attention to societal issues and injustices, using his platform to advocate for change and awareness. He also writes satire and stand up.