Gamban Extends Blocking to Crypto and Trading Platforms in Addition to Blocking Access to Online Gambling Sites
Gambling addiction is a problem that affects millions of people worldwide and can lead to significant social, mental, and financial problems for many. With the growth of online cryptocurrency trading, people with a tendency towards online gambling have taken to crypto speculation as a secondary hobby.
This has led to an open discussion of the connection between online trading and online gambling. Is buying and selling cryptocurrency, an investment or a gamble? In recent, comprehensive changes, Gamban’s blocking software has been expanded to include cryptocurrency and trading platforms as well as traditional gambling sites and applications.
What is Gamban?
Founded in 2015 by former gambling addict Jack Symons, Gamban is a UK self-exclusion supplier of blocking software, designed as a monthly or annual subscription service to block gambling sites and applications across all platforms. The purpose of the service is to aid in treatment or willpower for those struggling with problem gambling.
Independent research commissioned by GambleAware in 2018, found that Gamban was the most powerful and cost-effective self-excluding tool on the market. Gamban was created in response to self-exclusion programs set by casinos, which have turned out to be of little effect for players when they can just move to a new online casino.
With live support and a number of other helpful resources on their site, the company prides itself in being the “most effective solution for creating friction and aiding willpower in the fight against gambling addiction”.
In March 2021, Unibet operator Kindred Group became the first US operator to offer Gamban’s gambling blocking software to its customers. This partnership is a huge step in reaching their goal of zero revenue from problem gambling by 2023.
How Does Blocking Work?
Unlike self-exclusion programs offered by online casinos, Gamban’s service includes blocking protection on all devices, including Windows, macOS, iOS, and Android. Once the software is installed, Gamban blocks access to thousands of Gambling sites, both online, and via smartphone apps.
Designed to help protect people with gambling addictions, Gamban cannot be removed from a device once installed. The software will continue to block a user’s access to all excluded sites until the subscription ends.
Crypto & Trading Sites Added to the List
Starting August 1st, Gamban has added contracts for difference (CFDs), Foreign exchange trading, cryptocurrency exchanges, and binary options to the list of site types that will be blocked by their software.
In an intersection between gambling and investing, Gamban has decided to classify the speculation inherent in financial investment as “gambling” for all intents and purposes. In a statement, the company acknowledged that such a step might seem extreme to some, considering the popularity of crypto trading platforms, but stuck by its decision, citing the safety of its customers as its main priority.
The firm assessed financial platforms and found “significant overlap between traditional gambling and emerging investment platforms, where there is significant capacity for harm due to exposure to risk from speculative trading and volatility.”
Gamban’s Commitment to the Cause
Since its inception, Gamban has been committed to helping people with gambling addictions as well as those who recognize the beginnings of problem gambling behavior in themselves or loved ones. The company has recently partnered with multiple organizations to help those in distress from gambling addiction.
In 2021, Gamban committed to the American Gaming Association’s “Have a Game Plan” campaign and began collaborating with The Problem Gambling Help Network of West Virginia. Its network works with 70 referral therapists in the state and provides free help to more than 15,000 people who suffer from gambling addiction.
In March of this year, Gamban signed an agreement with FanDuel, the popular sports betting site. This agreement allows members of FanDuel to have free access to Gamban’s self-blocking platform.
In April, Gamban also partnered with Pinnacle, another sports betting operator, to give its patrons access to Gamban’s software as well. These gambling operators have been public in their ambitions for improved player welfare and see this service as integral to that mission.
Aside from gambling and sports betting operators, Gamban additionally works with market monitoring organizations to help regulators halt illegal gambling of any kind.
One such organization, “A Game Above” also partnered with Gamban to launch Yield Sec, a technical advisory tool in July of this year. Yield Sec allows government regulators to access real-time databases and gives users the opportunity to create their own constantly updated operator blacklists. This partnership clearly had an impact on Gamban’s decision to expand its services to include blocking cryptocurrency trading in all of its forms.
Cryptocurrency & Gambling
While investment in cryptocurrency can certainly be a smart financial move if done properly with a long-term strategy, many that embark on crypto speculation are hoping to get rich overnight. This tendency falls into the category of gambling and can lead to short-term ruin.
The financial investment of any kind means taking calculated risks and should not be entered into lightly or thought of as entertainment. It, therefore, seems reasonable that Gamban has taken this step and kept its users safe from reckless crypto speculation in addition to its other self-exclusion gambling services.