21/07/2021
Gamban recognises an increasingly strong 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.
This follows research undertaken by Gamban in June 2021 on whether different forms of trading can be considered gambling, which found an overwhelming proportion of the general public viewed investing in cryptocurrency as a form of gambling. The report can be found here.
In the interest of our users, who have experienced harm from gambling, we have decided that these sites should be blocked by Gamban.
The difficulty has arisen from these platforms offering different products, some more comparable to gambling than others but without a clear distinction between them. We must therefore be led by the most harmful product a platform offers and block based on this criteria. If a trading platform offers any of the following, it will be added to our block list:
- CFDs
- Cryptocurrency exchanges
- Binary options
- Forex trading
We recognise to some of our users, this approach will appear quite blunt. However, we feel that where inappropriately regulated products emerge, which exist at the intersection between gambling and investing, but are more akin to speculating, Gamban must block these if it is to remain the safety net our users rely on.
The changes will be introduced from 1st August 2021.
If you have any questions or concerns please contact info@gamban.com.
