This is the second part of the thread I previously created on the
trading board, and I see some similarities that suggest it can be adapted to gambling, so I’m sharing it here. Do you think crypto trading regulations, similar to what Coinbase UK reportedly requires before allowing users to trade, should be adopted by online casinos? For instance before placing a bet users could be required to pass a knowledge assessment that includes questions such as:
- Users must acknowledge prominent risk warnings stating they could lose all their money
- Gamblers must declare themselves as "restricted gamblers" and confirm they won't invest more than 10% of their net assets in high-risk bets, requiring them to specify actual percentages of past and intended future bets.
- A mandatory knowledge assessment quiz that users must pass to start betting, with questions covering topics like betting, betting hours, bet risks, and regulatory requirements.
This could actually help a lot by forcing the gamblers to actually take responsibilities for losses and whatever comes with his gambling activities. It is easy to implement by casinos but the challenge is that not many gamblers will even pay attention to the details instead they will check the "yes" boxes to be able to place their bets without knowing the content of what they accept just like it is done with the lengthy TOS that most people do not read.
Another observation is that the only way this will be successful is if there is a general consensus by the casinos or some form of law mandating them to implement such provisions else some might not see the need as they believe it will deter customers from using their platform.