Online Gaming Giants Rework VIP Programs Amid Suits

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00:00new recommended practices for some of these vip programs responsible gaming we've seen

00:04some of the sports betting operators being sued uh you know whether or not these these clients

00:10who are suing are actually going to win anything still remains to be seen but i even if they lose

00:15sam and they don't get a penny out of this what it's doing is it's causing the companies to

00:19probably take a step back and say hey look we got to do you know honestly sam i hate to say it

00:24i'm not even sure that they're really going to put more things in action to you know curb this as

00:31opposed to just hey we don't want any bad press trying to have this appearance that we don't care

00:35i mean to me sad to say but i think that that's part of it well i admire your skepticism craig um

00:42i think this could be a win-win in this case you know even if it does accomplish something it also

00:48like you say does give a good kind of pr positioning move of hey we're trying to get out here

00:53and address this um of course we're talking about the responsible online gaming association which

00:58was this group founded by eight operators eight sports books like fan duel draft kings

01:04which represent about 90 percent of the entire u.s market they formed this group last year

01:09to essentially pool together all the resources get every one of the major sports books on the same page

01:16because when a lawsuit happens against one of these companies it doesn't just affect that company

01:21it affects the entire industry and what they did yesterday was release these guidelines for

01:26how they're going to operate their vip programs uh under the principles of responsible gaming which

01:33we know has been uh if nothing else a big messaging thing for these companies as of late uh vip programs

01:39uh of course are the most essential part really of any sports book any casinos business it is the

01:46program that these companies dedicate to uh keeping retaining making sure their best highest paying

01:53customers uh continue to bet with them and are happy with them it often involves you know having

01:58you know your own personal vip host that checks in on you offers you free credit sometimes you know

02:03tickets to different sporting events other incentives to keep you from betting with that book and going to

02:10another place so um roga which is responsible online gaming association implemented these practices

02:16they say they want all their members to adopt on a commercially reasonable timetable these are

02:21standardized practice for how you're going to train each vip host making sure that there's a

02:27confirmation that your vips uh know that are responsible gaming tools available to them making sure

02:33that you are using um the data points that every sports book collects to monitor their activity uh

02:40really just kind of trying to make this process better and i think one of the ways they're trying

02:44to do that even if they're not in reinventing the wheel here they want to make sure everyone's on the

02:49same page and we know that's really hard to do um you know just to get two companies

02:54kind of in the same room together when you're talking about eight they want to share as much as

02:57possible you know we talked about fanduel a couple weeks ago implementing that the real-time deposit

03:03monitoring tool which was going to automatically alert you if hey you bet you know 10 times the

03:08normal amount or you made you know 100 deposits in the last hour compared to your normal rate

03:13these companies want to share that technology with each other of course it's you know easier said than

03:17done it's going to take a while for them probably to implement this but it does come at a time you're

03:22right craig when you know fanduel is being sued by the jacksonville jaguars employee that stole 20 million

03:28dollars from the team uh he alleges that their vip host incentivized him to keep spending on his

03:34daily fantasy sports account uh with you know a million dollars credits with prizes even saying

03:40that hey i know what we're doing is illegal but we want you to keep playing that case is still wrapped

03:44up in court i don't see it really going anywhere and then draft kings is also dealing with a similar

03:49case so it definitely comes at a time when these vip programs are being brought into light we're thinking

03:53about how do we discern high value players from the problematic ones

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