{"id":2100,"date":"2021-02-19T09:16:46","date_gmt":"2021-02-19T09:16:46","guid":{"rendered":"https:\/\/www.newbettingsites.co\/?p=2100"},"modified":"2021-02-19T09:16:46","modified_gmt":"2021-02-19T09:16:46","slug":"online-bank-monzo-creates-universal-gambling-block","status":"publish","type":"post","link":"https:\/\/www.newbettingsites.co\/online-bank-monzo-creates-universal-gambling-block\/","title":{"rendered":"Online Bank Monzo Creates Universal Gambling Block"},"content":{"rendered":"
Back in 2018, the trendy online banking app, Monzo, created a gambling block that enabled its customers to bar themselves from spending money on gambling products.<\/p>\n
A few years later, and the feature has had plenty of time to be tested, with the company claiming it was switched on over 275,000 times and less than 10% ever switched it off permanently.<\/p>\n
This proves that not only is it a feature that people want, but it works.<\/p>\n
Now, Monzo’s CEO, TS Anil wants this home made feature to go industry wide, and is urging the Government to use their current review of the 2005 Gambling Act to make it universal.<\/p>\n
<\/p>\n
The issue of people betting more than they can afford to lose is as old as time itself. Even Roman Centurions used to throw dice and wager on the result – really, they’ve found dice during excavations – but the dawn of online gambling made access to gambling so easy that it exacerbated the problem.<\/p>\n
The idea of self exclusion is nothing new, indeed, all sites must offer customers the option to self exclude among other responsible gambling tools; but with many punters using several different sites to bet this becomes messy to manage.<\/p>\n
Monzo’s solution is to attack the problem earlier down the line, before money has even made it into a gambling account.<\/p>\n
They will offer their gambling block feature as an open API so it can be integrated into all banks’ platforms, therefore creating a universal safety block, but the hope is for this to be made an obligation rather than a choice.<\/p>\n