Andrew Black the Betfair co-founder partners with gambling harm and crime commission
The co-founder of Betfair, Andrew Black has joined a 16-member body committed to fighting the harm of gambling, both in terms of addiction and through crime.
There is immense difficulty in the private sector to combat problem gambling, and the issue has begun to spill over into the criminal world. With criminal gangs organised in their attempts to launder large sums of money through online gambling platforms, there is an inherent responsibility on the betting operators to fulfil the forces that combat these issues.
The Commission on Crime and Problem Gambling has been established in response to the industry desire to tackle these problems at the roots of the problem. There has also been a significant pressure placed on betting companies by authorities by authorities, and many will see this action as a response to try and pacify the critics of the gambling operators and regulatory bodies. There have been many attempts in the past to set up organisations to handle the need, but this seems to be the most significant and successful attempt thus far.
Even the companies that haven’t got on board with the new initiatives have been told they have to tighten up their response to the new pressures. With many commentators blaming the actions on several of the industry’s biggest players, now is the time for them to stand up and be counted.
There are many reasons for this issue to be given the attention that it deserves. First and foremost, the industry needs to protect its players from the dangers that gambling can bring. In the following section, we will dive into more detail of exactly how Betfair has taken this responsibility to the next level and is leading the industry efforts on the front of gambling addictions.
As Lord Goldsmith QC, Chair of the commission stated in his testament to the biggest challenges faced by the industry.
Our commission will seek to establish what the links are; what impact they have on communities and wider society; and, crucially, what steps could be taken to reduce crime and make people safer.– UKGC Lord Goldsmith QC, Chair of the Commission
Betfair is becomming the pioneer of gambling protections
With this watershed moment being taken by the co-founder of Betfair, Andrew Black, the sportsbook industry has to stop and ask itself, what really are the primary concerns of implementing a safe environment for the whole sector. Firstly there is the obvious concern over problem gamblers, and secondary the legal loopholes that allow organised criminals to unlawfully filter money through these online resources. The commission has the authority, experience and determination to make legal recommendations to the governing authorities and implement a new culture within the betting industry that will give much-needed relief to the problem of gambling addiction.