Blockchain

PROBLEM GAMBLING UNDER SCRUTINY BY NEW COMMISSION, AS PLAYTECH APOLOGISES FOR TRAGIC FAILINGS

Published

6 years ago

June 1, 2020

AYO News Staff

A new commission will analyse links between crime and problem gambling, as Playtech “takes full responsibility” for PTES failings that led to tragic suicide.

Not enough research on links between problem gambling and crime

Problem gambling and its impact on society is facing further scrutiny, with Lord Goldsmith set to head a special commission to look at the links between crime and gambling. The commission will be working with penal reform charity The Howard League, to conduct further research into the links between criminal activity and problem gambling.

It comes after a League-sanctioned review into the academic literature covering the issue found a “dearth of knowledge” on the subject – with only 50 peer-reviewed papers published during the past quarter of a century. According to the League, the millions of people suffering from the consequences of problem gambling have been let down by the lack of research.

Lord Peter Goldsmith QC will now chair a Commission to analyse the following three areas:

The prevalence of gambling related crime
The experience of people dealing with the system
The awareness of sentenced gambling addicts

Discussing the initiative Lord Goldsmith QC said:

“From people getting into debt and defrauding family members or employers, to domestic violence and other crimes relating to gambling-related stress, we know anecdotally that police stations, courts and prisons see significant numbers of cases – but only a handful of academic studies have looked at this across the globe.

“The criminal justice system itself does very little work to capture the scale of the challenge and even less in terms of offering interventions like those we see for alcohol or drug problems. This has to change and our Commission can play a key role in improving the response to disordered gambling and crime.”

The Howard League is particularly concerned that, unlike other mental health issues like drug and alcohol addiction, gambling addiction is not considered a mitigating factor during sentencing.

It also points to the fact that those with gambling problems are not usually offered any support during their prison sentences, which often leads to further harm when the offenders return to society.

Playtech takes “full responsibility” for failings that led to suicide

Gaming solutions supplier Playtech has issued an apology and said it takes “full responsibility” for the serious failings at its now defunct PT Entertainment Services (PTES) that led to a customer tragically committing suicide.

The victim spent GBP £4.5m with PTES’ Winner and Titanbet brands, losing nearly £120K in less than one week in April 2017 alone, before taking his own life.

As we reported last week, a UK Gambling Commission (UKGC) investigation found serious and widespread failings regarding social responsibility and anti-money laundering processes, including a failure to undertake even basic affordability or source of funds checks.

In a statement Playtech said:

“The regulatory breaches identified in PTES between 2015 and 2017 were not reflective of the high standards the Playtech Group set itself at the time and not representative of the high standards the Group delivers to its B2B partners today.”

The company, which voluntarily surrendered PTES’ UK operating license, has also extended its “deepest sympathies” to the victim’s family, and is increasing the amount it is donating to anti-gambling harm charities from £619,395 to £3.5m.

Playtech’s Interim Chair, Claire Milne, who has said she will be contacting the victim’s family personally to apologise, said:

“But while the company has made many positive and important changes, we feel it is only right for us to recognise these historic failings by offering this increased amount. In speaking with many of our stakeholders, it was clear they felt the failings were not representative of the Playtech they know. Through this action, we want to send a message to them and the wider industry of who we are today and aspire to be.

“Raising industry standards on safer gambling and being a leader in responsible business is central to our strategy as a technology partner. In my new role as interim chairman, I am fully committed to this continuing to be a key focus of ours going forward.”

AYO.NEWS says:

With the COVID-19 crisis pushing the world to the brink of an unprecedented economic disaster, the sad truth of the matter is that millions more people are going to find themselves in dire financial straits, and desperate, hopeless situations.

This reality, coupled with many gambling operators’ current attitudes and marketing approaches is a recipe for disaster, and sure to invite ever increasing draconian regulation.

As we’ve argued many times here at AYO.NEWS, the only realistic solution is better education for everyone – the public and those in the industry. But, this needs to start at a very young age, and involve a long-term sustainable strategy, which equips young people with the ability to keep gambling in perspective.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.

All original content featured on this site is © Pentagon Digital Limited, 2020

Blockchain

VCOIN LAUNCHES DEBIT CARD WITH UPHOLD: IMVU USERS EARN IN-GAME & SPEND IN REAL LIFE

VCOIN has teamed up with Uphold on a debit card that lets IMVU users spend currency earned in-game on real-world purchases.

Published

5 years ago

June 29, 2021

AYO News Staff

Vcoin launches debit card with uphold: imvu users earn in-game & spend in real life

VCOIN, the transferable digital currency used in the social metaverse app IMVU, has launched a debit card in partnership with digital money platform Uphold, allowing users to take value earned inside the virtual world and spend it in real life.

IMVU users can now withdraw VCOIN to an Uphold account and spend it using the Uphold debit card, earning 2% cashback on every purchase, both online and in store.

How the card works

The card is available first to US residents, with international availability to follow. Digital-only cards are free to order and use through the Uphold Card app, while a physical card carries a one-off fee of $9.95. Cashback on purchases is paid into the cardholder’s Uphold account.

From virtual economy to real wallet

VCOIN was first introduced inside IMVU, the friend-discovery and social metaverse app operated by Together Labs. IMVU runs one of the larger virtual economies of any social platform, with around 27 million transactions and 14 billion credits changing hands each month, according to the company.

The debit card closes the loop between that in-app economy and everyday spending. Creators and users who earn VCOIN by selling virtual goods or participating in the community can now convert those earnings into money they can use at ordinary merchants, rather than keeping the value locked inside the app.

A test case for the creator economy

The launch reflects a wider effort across gaming and virtual worlds to let users earn real income from in-game activity. It also highlights the regulatory hurdles involved: by routing withdrawals and spending through Uphold, an established and regulated money platform, VCOIN relies on a partner already set up to handle compliance, identity checks and card issuing.

How widely users adopt the card will be watched closely by other platforms considering whether to let virtual currencies flow out into the real economy.

Blockchain

ENGLISH PREMIER LEAGUE’S WOLVES ENTER ROCKET LEAGUE CHAMPIONSHIP SERIES

Published

6 years ago

November 5, 2020

AYO News Staff

English Premier League football club Wolverhampton Wanderers (Wolves) has entered the Rocket League Championship Series (RLCS).

Wolves already fields rosters in FIFA 21, FIFA Online 4, PUBG, Identity V, and Pop Kart Racing, and is the first Premier League club to enter the RLCS.

Discussing the news Wolves General Manager for Marketing and Commercial Growth, Russell Jones, said:

“Gaming and esports remain a crucial part of our brand growth strategy and signing such talented and ambitious players to represent our Rocket League esports team is another step forward in our journey to build stories outside of football and widen the appeal of the Wolves brand across the world.

“We have spent the last six months scouting teams and players and are delighted to welcome Rix, Luis and Ole, who will become Wolves Esports for the remainder of the current RLCS season X and beyond. We will be offering the team our full support as they compete in the winter split.

“I’d also like to thank the University of Wolverhampton who continue to be an exceptionally supportive partner of the Wolves Esports programme.”

While Team Captain of Wolves Esports Rocket League, Rix Ronday, added:

“It is a real honour to captain the first-ever Wolves Esports Rocket League team. I’m confident that we have recruited two of Rocket League’s most exciting talents in Ole and Luis and we are working hard behind the scenes to prepare for the RLCSX Winter Split kick-off.”

AYO.NEWS says:

Wolves have already demonstrated their enthusiasm for esports, using it to strengthen what is now a powerful global brand – for example, way back in February 2019, it became the first Premier League club to enter Chinese esports, through a partnership with Weibo eSports Club.

And, given the very real possibility of COVID-19 causing further disruption to football, diversifying the brand into multiple esports seems like a smart way to ensure fan engagement can continue, come what may.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Blockchain

FIFA 21 CHALLENGE IS MOST WATCHED EA ESPORTS EVENT YET

Published

6 years ago

November 4, 2020

AYO News Staff

The EA SPORTS™ FIFA 21 Challenge has smashed the viewership record, with an Average Minute Audience of over 250K.

A one-day esports tournament that paired top global professional footballers with the world’s best FIFA players, the EA SPORTS™ FIFA 21 Challenge drew an average minute audience (AMA) of 254,057 with a total watch time of 1,024,696 hours, making the event the most-watched EA operated esports broadcast in history.

In fact, the broadcast more than doubled the viewership metric set by the next most-watched EA operated FIFA event, the FIFA Global Series FUT Champions Cup: Barcelona, which took place over multiple days in January 2018 and registered an AMA of 92,678.

During the competition, four esports players paired with four professional footballers from international clubs Liverpool, West Ham United, Inter Milan, and Borussia Dortmund, clashed on October 29 for the EA SPORTS FIFA 21 Challenge.

Liverpool’s Trent Alexander-Arnold and Fnatic’s Tekkz took home the trophy and won $20,000 on behalf of their selected charities

In addition to incorporating celebrity participation to reach non-traditional gaming audiences, the EA SPORTS FIFA 21 Challenge was the first event to utilize FIFA Global Series Viewership Rewards, creating an interactive broadcast for viewers with in-game benefits for watching to further drive engagement and subsequent play time.

Reflecting on the event EA SPORTS FIFA Commissioner, Brent Koning, said:

“EA SPORTS FIFA is woven into the fabric of football culture. Bringing professional footballers and our esports pros together creates entertainment that sets our tournaments apart.

“The success of the FIFA 21 Challenge reinforces our strategy and vision for broadening the esports audience, creating content for our fans, and underscores the value of entertainment-driven events that branch outside of traditional esports.”

The FIFA 21 Challenge was a part of a series of EA SPORTS FIFA 21 Global Series pre-season invitationals, featuring notable influencers, footballers, and FIFA pros, in partnership with the interactive entertainment world’s biggest video streaming and content platforms.

It’s a nod to EA’s renewed competitive gaming strategy, which leverages the convergence of traditional sports, competitive gaming, and pop culture to create new, engaging, and accessible broadcasts for diverse audiences.

AYO.NEWS says:

Viewership figures like this illustrate just how integrated esports, especially FIFA, is becoming in mainstream football culture, and the growth looks set to continue, and reflects well on EA’s competitive gaming strategy. Last month, EA announced improvements and a bigger prize pool for the upcoming esports season.