We have all heard the great quote,” With great power comes great responsibility.” It is not just about quoting Spiderman movies here. The iGaming industry is rapidly expanding in demand and requires some responsible gaming features so that people can control their urges and not overburden their accounts with play. Even though the younger generation is hooked on the idea of iGaming, they are on the lookout for options that provide safety and security to private data and hard-earned money.
Importance of Responsible Gaming
Responsible gaming can be defined as the practice and strategies adopted by iGaming software development companies to ensure that people indulge in online gaming responsibly. These efforts collectively benefit all entities including iGaming operators, players, and regulatory authorities. It may seem like a burden for the iGaming software development companies but the good ones like Betfoc ensure that online gaming is safe, ethical, and enjoyable to the end users.
Responsible iGaming is a sure-shot way to keep people in check who may have developed an addiction or other problem habits like problem gaming. This can also be a CSR activity for iGaming software providers that can help keep a tab on these issues before people grow addicted to them. Betfoc is a leading iGaming software provider that has experts on the team who support the idea of iGaming. They have generously shared a few tools that you can use to be responsible for iGaming.
Responsible iGaming tools that you can integrate
Self-exclusion options
It is a great pick for people who understand the problem at hand and would want to restrict the sue of a software platform for some time. The self-exclusion option helps with permanent or temporary exclusion from the iGaming software. Players who feel they may have developed unhealthy gambling habits can activate this feature, preventing them from logging into their accounts or making deposits. This is a safeguard feature that players cannot reverse without contacting the platform authorities. People like to challenge themselves with such restrictions, and it helps to refrain from addictive habits.
Deposit and Spending Limits
Setting financial limits on the iGaming software is another great feature that you can include for the end users. It helps in limiting the spending on online betting or online casino games so that people do not play aggressively. Your users can set daily, weekly, or monthly deposit and spending limits, preventing them from depositing more money than they can afford to lose. Betfoc iGaming software development company helps build such responsible gaming features with varying limits so that you can increase or decrease them depending on your gut feeling.
Risk Management
Another great feature of Betfoc’s White Label software solution is the use of risk management tools. These tools mostly come in handy with the White Label betting exchange, where the odds of winning can be set. The tool will show the probability of winning vs. losing on your bet, and you can accordingly place your bets. As per the Betfoc responsible gaming initiative, our White Label software solutions come pre-installed with the risk management tool.
Advanced Options in Responsible Gaming
Regulatory compliance
Betfoc understands the need for responsible gaming, and hence, the iGaming software is designed keeping in mind the regulatory compliance set by various jurisdictions. Regulatory bodies around the world have imposed stringent measures to ensure that online casinos promote safe gaming environments. Any failure to comply with these regulations can result in heavy fines, loss of licenses, and reputational damage. We provide international iGaming licenses with the Betfoc White label iGaming solutions. For those who have a ready license and need iGaming software to go with it, our Turnkey iGaming solutions are the best bet.
Use of cryptocurrency in iGaming
The blockchain industry has taken the world by storm, and iGaming industry has responded to this in a positive way. It is a transparent and decentralized way to spend on iGaming and lets you hold all cards with minimal use of your data. Betfoc, being the leader in including cryptocurrency in their iGaming solutions, has built a White Label Crypto Casino solution that enhances transparency and gives players confidence that the platform adheres to fair and responsible gaming practices.
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