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.
As I've said in your trading discussion thread, I'll repeat again that such quizzes can easily be bypassed. The quiz will be the same for everyone and someone will publish quizzes with answers on their own blog and it will easily be searchable via Google.
By the way, I think that something should be done to increase awareness about the potential pros and cons. Many people have no idea what is RTP or house edge and that's a huge issue to my mind, they think that casino is a scam when they lose while the reality is that casino takes some commission and gives away some part of it to customers back, that's why we have RTPs on slots.
I'd only agree with mandatory quizzes if it is mandatory for every casino because if it's not mandatory for some, then these casinos will have a good advantage over others because people find quizzes very uncomfortable and might hesitate to register on a casino that asks you to bypass quiz, which can be very bad for the business and unfair. Btw I will always appreciate casino's attempt to explain things to their customers.