A memorandum of understanding was signed last week for several groups to become business partners in an effort to tackle problem gambling. GVC Holdings is included in the mix, a gaming firm that operates around the world, including New Jersey. The group is part of an effort to form a foundation focused on problem gambling that includes a former Giants player Amani Toomer and William Pascrell III< a lobbyist for Princeton Public Affairs Group.
Problem Gambling Efforts
The GVC foundation will be partnering with the National Council on Problem Gambling to create educational programs for active members of the military. Individuals in the military are often overlooked when it comes to compulsive gambling issues.
Studies have shown that as many as 56,000 individuals who are active duty within the military in the United States have an issue with compulsive gambling. The group of individuals are 50% more likely to commit suicide when compared to other types of compulsive gamblers.
Seton hall University Law School hosted the event where the foundation announcement was made and they are planning on launching their own initiative. The school will be creating a Gaming, Compliance, and Integrity Program that will be live by March of next year. The new program will begin with a 3-day regulatory boot camp of sorts.
According to the dean of the Seton Hall Law School, Kathleen Boozang, the program will include individuals taking a deep dive into gambling laws of the European Union and the United States to ensure regulatory compliance.
Sports Betting Expands
As gambling continues to grow in the United States, particularly within the sports betting sector, there will be a growing need for problem gambling assistance. States like New Jersey have become a mecca for sports betting operations in the US. The state was one of the first to launch services and they continue to earn tens of millions in revenues every year.
The new industry is creating more betting opportunity as well as jobs. The American Gaming Association has estimated that by the end of next year, as many as 25 of the 50 states in the US will have a legalized form of sports betting. Right now, 13 states offer services. There are also states considering legislation this year.
The GVC foundation in the US will help to educate people more on the dangers that can be associated with irresponsible gaming. A particular focus of the GVC group will be college campuses. An effort will be made to educate students, with a focus on athletes, on issues that can arise. Student athletes will need to be mindful of the information they provide others, such as injuries of teammates.
It will be interesting to watch as the GVC foundation springs into action and what they provide in the United States by way of educational programs for compulsive and problem gambling. The gaming operator and their partners are set to ensure the gambling industry remains in good standing while at the same time, protecting players.