EGBA is a gambling association that makes important decisions for the industry in Europe. Recently, it has announced a modern way to confirm people's identities, which could become beneficial for the market.
In case the E-ID (short for European Digital Identity) is accepted and introduced to the gamblers, all the vital information about them will be stored in their e-wallets. This new rule is set to be an improvement of previous regulations. The commission will make it a requirement for private and public businesses to implement E-ID to the clients.
As a consequence, every online gambling platform which offers gaming and wagering services will have to accept the E-ID system to identify its punters. The plan is to make this form of identification a quick, easy and painless process for the clients, who will be able to register at any site without problems and start gaming.
According to the EGBA representative, Vasiliki Panousi, this method of identifying gamblers will be a brand new development. It is going to positively influence the costs spent on various compliance expenses and make the companies save money.
In his words, this change is also supposed to prevent underage players from accessing the sites and minimise this issue. Any suspicious activities will be closely monitored and watched.
This plan is a long-term commitment that is expected to take place no earlier than next year. However, the officials expect that the majority of European players will own these identifying wallets and utilise them in their gambling activities by 2030.
There have been some worries that centre around the future usage of electronic wallets that will contain all the information about consumers. Mostly, these concerns touch on the extent of security that these changes bring to the players.
Particularly, it is questioned whether the technology is designed to become a stronger protection for the risky category of players than it was before. Self-excluded gamblers will have to be responsible for their activities and gain insight about how to use the new technology in a way to protect themselves. For this, they will need to insert data about self-exclusion in the wallets.
Panousi was not majorly concerned by these issues. He said that the new offer has a lot of additional benefits. Among them, there are:
Another thing that the executive is feeling positive about is the client experience that the new development is expected to significantly enhance. As he stated, the players will not need to perform a lot of additional steps while registering to play digital casino games. With the arrival of E-ID, they will only need to make a few easy clicks to confirm their identities.
EGBA has been backing up this initiative for a long time now. It was originally suggested by EC, which also listed all the positive improvements that the solution was about to enforce in the scenario of being implemented. Panousi's comments only confirm the supportive stance on the new changes that EGBA has taken from the start.
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