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.
Implementing crypto trading regulations in online casinos could enhance player protection and responsibility.
The proposed measures, such as risk warnings, self-declared restricted gambler status, and knowledge assessments, can help ensure users understand the risks involved.
However, it's crucial to strike a balance between protection and over-regulation, which could potentially drive users to unregulated platforms.
What are your thoughts on the potential effectiveness and feasibility of implementing such regulations in online casinos?