【foxwoods table games】-5 elements that contribute to iGaming sustainability

A quick study on the most important elements contributing to the sustainability and longevity of online gambling.

Any industry has the chance to keep growing or eventually fade out, and this includes the online gambling industry. However, with the proper management and strategic thinking, it has plenty of potential to be sustainable.

Betsson’s sustainability report

Betsson Group is one of the industry giantswith over 60 years of experience. They recently shared without their sustainability report, where the focus is long-term, with the customer at the heart of the strategy.

The key points are ethics, business compliance, and responsible gambling. Other focal points include the employee, social and climate impact.

Let's take a closer look at which are the main priorities in Betsson’s strategy:

• Ethics and Business Complianceto conduct business responsibly and transparently.
• Responsible Gamingto ensure a healthy relationship with gambling among players.
• Employee Impactto create the best possible workplace within the industry.
• Social Impact:to positively impact every region in which they operate.
• Climate Impactto do their part in fighting climate change.

Elements of sustainability in online gaming

When it comes to creating a sustainable business, iGaming companies need to think thoroughly about the social, financial and environmental impacts they may have. And how the societal and environmental issues have the potential to impact the company’s success.

They must also consider whether the company fits thesocietal and environmental thresholds. Among the main elements of sustainability in todays gaming world are:

1. Legislation and regulation

Regarding sustainability, the legalisation and regulation of gambling play a significant role. In some regions, gambling is illegal or under heavy regulation, which leaves a backdoor open for black market gambling operations. These markets pose a danger to consumersas they need the safeguards and controls regulated markets have to protect the player.

2. Responsible gambling

Among the necessary safeguards meant to protect consumers and minimise negative impacts are age restrictions, strict regulation on advertising and marketing as well as responsible gambling programs.

For gaming companies like Betsson Group and Betsson Casino or Betsafe Casino and most of the other industry leaders, it’s important to ensure responsible gaming stays at thecore of its sustainability framework, ensuring players have access to the best gaming conditions and, more importantly, a healthy gaming environment where they can practice controlled wagering.

3. Social impact

Another thing to keep in mind is society's attitude, which greatly impacts the industry. In some societies, gaming is embraced, while others have a more negative view. These views directly impact the demand for gambling services and products.

4. Climate Impact

Climate change is real, and providers and operators need to do their part to contribute and find ways to counteract it, such as reducing their greenhouse gas emissionsand compensating for what they do.

5. Employee impact

A happy employee is productive, making it essential for operators and software providers to create a great work environment. This opens the possibility of attracting talented workerswith the right skills to keep pushing the provider to the forefront.

The reality is that the gambling industry has the potential to be sustainable but for that to happen, the industry needs to be properly regulated and managed with a keen interest in societal attitude and the impact thereof.

The industry must take a responsible approach and be fully aware of its potential impact on society and the climate. Long-term sustainability is possible when the focus is on society and ensuring apositive impactwith player protection as the focus.

Published: May 3, 2024