Source of Wealth checks - operators making it "trendy"?

[jasonuk]

I was having a read through a casino survey recently sent to me on a few different topics, and a question came up about Source of Wealth checks... asking which of the following would encourage people to complete the process.

So we start with the obvious ones...

• Text and Video explainers (including from celebrities)
• Data Security

Then we get to the dubious ones...

• "Easily share" your highly sensitive personal data (Open Banking etc)

and then we get to the outrageous ones...

• A referral from a friend
• Testimonials
• Free Bets

Can you imagine the testimonials... "shithole casino hoovered up all my personal data, and all I got was this lousy t-shirt £5 free bet".

I know operators are eager for customers to complete the process because it is less of a regulatory headache for them, but the tone of that is absolutely shocking... can you imagine conversations like "Whey-hey, I got a £10 free bet this weekend, and I did a free source of wealth check too!" ?

 

[Jono777]

Free bets / incentives and SoW are chalk and cheese, surely?

Something I'm very confident the UKGC would frown upon without hesitation.

Horse has bolted now but what should have been done is the casinos make a stand together from day one and request more clarity, more leeway and more common sense from people in the industry with experience of how these things actually work, IE Syndicates, advantage players, OTT addicts and leave the casual players and those pretty much in control anyway alone.

What a mess!

 

[L&L-Jan]

We have a video on the verification page, no clue if it works And no, the lady is not a celebrity, she is AI

 

[Jono777]

We have a video on the verification page, no clue if it works And no, the lady is not a celebrity, she is AI

Hot and willing though yes, to encourage compliance?

 

[goatwack]

I'm fairly convinced many if not most gamblers wouldn't hesitate with a good old-fashioned bribe incentive to disclose enhanced financial revelations, it'd be akin to shooting fish in a barrel and a very easy Win for an industry that preys on people's addiction.....at least initially.

I also don't believe too many to be enamoured with casinos' holding winnings to ransom, and so will likely already feel strong-armed into completing these checks anyway.

Yet as there seems to be no definitive SoW that clears one's account long-term, being harangued by casinos without end will only result in Crypto converts, no matter how many deepfake Sydney Sweeney messages they send

 

[jasonuk]

I'm fairly convinced many if not most gamblers wouldn't hesitate with a good old-fashioned bribe incentive to disclose enhanced financial revelations, it'd be akin to shooting fish in a barrel and a very easy Win for an industry that preys on people's addiction.....at least initially.

It does feel that way - if they can get people to opt-in early, not only do they remove SoW friction later on, but they have the data to exploit for targeting high-value customers* (* I know the regulations say it's only supposed to be used for the intended purpose, but given the track record of Entain, WH and the like... it would be long odds on them not abusing this data).

I also don't believe too many to be enamoured with casinos' holding winnings to ransom, and so will likely already feel strong-armed into completing these checks anyway.

Which itself is a regulatory failing of the industry - SoW is inherently a deposit trigger, so providers shouldn't be holding withdrawals for it, and the UKGC absolutely should be enforcing that (but they haven't, and it's festered for too long now).

I guess the one small advantage is because you've already given away all your sensitive personal information completed SoW, the edge cases around SoW checks wouldn't apply. After all, how many stories have we heard where operators remind people they can still deposit and play, but conveniently forget to mention those winnings are conditional on successful completion of SoW... and people only realise after the fact they've anti-freerolled themselves. ?

 

[Reelsoffun]

Or it could be a sign that more and more players asked for SOW just walk, and they now starting to realise that they are losing more customers than they thought they would? Maybe they starting to get desperate to get players onboard ASAP LOL