Gambling addiction impacts the lives of millions of individuals throughout the world and may cause serious social, emotional, and financial difficulties for many. With the rise of online cryptocurrency trading, those who enjoy online gambling have turned to crypto speculating as a side pastime.
This has sparked an open debate over the relationship between internet commerce and online gambling. Is it an investment or a gamble to purchase and sell cryptocurrency? Gamban blocking software has recently been updated to encompass cryptocurrency and trading platforms, in addition to regular gaming sites and applications.
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Gamban – A Brief Introduction
Gamban, founded in 2015 by former gambling addict Jack Symons, is a UK self-exclusion software supplier that offers a monthly or annual subscription service to stop gambling at CasinoGap.org sites and applications across all platforms. The service’s goal is to help anyone battling compulsive gambling via therapy or willpower.
Gamban was judged to be the most potent and cost-effective self-exclusion product on the market by an independent study commissioned by GambleAware in 2018. Gamban was formed in reaction to casino self-exclusion schemes, which have shown to be ineffective for players when they can just switch to a different online casino.
The firm prides itself on being the most viable approach for producing friction and supporting willpower in the fight against gambling addiction with live assistance and a lot of other helpful tools on its website.
Kindred Group, the operator of Unibet, became the first US operator to deploy Gamban’s gambling banning software to its clients in March 2021. This collaboration is a significant step toward their objective of generating no money from problem gambling by 2023.
How Does It Work?
Unlike virtual casinos’ self-exclusion systems, Gamban’s service provides blocking protection on all devices, including Windows, macOS, iOS, and Android. Once installed, Gamban prevents access to thousands of gambling websites, both online and via smartphone applications.
Gamban, which is intended to assist safeguard persons with gambling addictions, cannot be uninstalled from a device once installed. Until the subscription expires, the programme will continue to block a user’s access to all prohibited sites.
The Updated List with Crypto and Trading Sites
Gamban has added contracts for difference (CFDs), foreign exchange trading, cryptocurrency exchanges, and binary options to the list of site categories that will be blacklisted by its software beginning August 1st.
Gamban has chosen to designate the speculation inherent in financial investment as “gambling” for all means and purposes, at the crossroads of gambling and investing. In a statement, the business noted that such a measure may appear drastic to some, given the popularity of crypto trading platforms, but stood firm in its decision, citing client safety as its first concern.
The business examined financial platforms and discovered a substantial overlap between traditional gambling and rising investment platforms, where there is great potential for harm owing to conjectural trading risk.
How Committed is Gamban?
Gamban has been dedicated to assisting players with gambling addictions as well as those who notice the onset of problem gambling behaviour in themselves or loved ones since its founding. Later, GamBan started to block crypto sites to prevent compulsive investments. The company has lately worked with a number of charities to assist people suffering from gambling addiction.
Gamban joined the American Gaming Association’s “Have a Game Plan” campaign in 2021 and began working with The Problem Gambling Help Network of West Virginia. Its network collaborates with 70 referral therapists around the state to give free assistance to more than 15,000 persons suffering from gambling addiction.
Sports Betting
Gamban announced a deal with FanDuel, famous sports betting service, in March of 2021. This deal grants FanDuel members free access to Gamban’s self-blocking platform.
Gamban also teamed with Pinnacle, another sports betting provider, in April to provide its customers with access to Gamban’s software. These gambling companies have made it clear that they want to promote player welfare and regard this service as an important part of their objective.
Regulatory Tools
Gamban, along with gambling and sports betting businesses, collaborates with market monitoring organizations to assist authorities in preventing illicit gambling of any sort.
Betting and Cryptocurrency
While buying cryptocurrencies may be a wise financial decision if done correctly and with a long-term strategy, many people who engage in crypto speculation expect to get wealthy fast. This is a gambling habit that might lead to financial disaster in the near term.
Financial investing of any sort entails calculated risks and should not be undertaken casually or as a kind of pleasure. As a result, it appears logical that Gamban, in addition to its other self-exclusion gaming services, has taken this measure to protect its members from irresponsible crypto speculating.
