Videoslots Casino Eyes Responsible Gaming with Max Loss Limit Budget

Videoslots is changing the online gambling scene by introducing a max loss limit for players.

The new requirement makes it mandatory for UK players to set a sensible limit before commencing play.

The move is part of the leading online casino’s new responsible gambling policy to protect its players from losing large amounts of money they cannot afford.

In a statement, Videoslots’ CEO Alexander Stevendahl said: “Responsible gambling is our number one priority and this requirement adds an extra level of safety for Videoslots players.

“We believe gambling should be a fun and engaging form of entertainment and we hope our initiative will help keep it that way. 

“Hopefully other operators will join us in our stance.”

The casino has around 3,500 slot games currently on offer, including games from Playtech, NetEnt, and iSoftBet.

It boasts most of Online Casino Gem’s top 21 slot games based on movies.

The company was founded in 2011 and is licensed by the Malta Gaming Authority, Swedish Gambling Authority, and the Gambling Commission of the United Kingdom.

Despite the actions of other casino operators, Videoslots has always had its customers’ wellbeing at heart.

A statement posted in 2014 by the company said: “We at Videoslots.com see online casino games as a positive form of entertainment for adults. 

“Most players share this opinion, but there is a small percentage that lets gambling become a too big part of their lives which may result in losing one’s self-control leading on to the path towards becoming a compulsive gambler.”

The post goes on to suggest those with gambling addictions seek the help of support groups and its various limit setting resources, which are mandatory as of August 2019.

In a time when studies have found 47% of Millenials believe casinos and gambling are depressing, it seems that this is the perfect moment to introduce limits to help new, younger players to feel more secure.

Videoslots now offer a wager limit, deposit limit, loss limit, max bet limit, time-out limit, a ‘reality check’ which shows the player's net winnings over the current session, and the option for players to lock their account. 

The website now asks online players to specify their occupation and the amount they can afford to spend on gambling monthly.

Once the limit is reached, the player is not allowed to place any further bets.

If a player wishes to decrease their limit, the change will take place with immediate effect. 

Videoslots is following the UK’s gambling laws to the tee.

The gambling commission states that casinos have a ‘social responsibility’ for their players, and therefore companies should be ‘proactively interacting early enough’ with those suffering from gambling addictions.

It continues by stating this will help companies not only retain customers but manage them, too. 

The UK also has various laws providing oversight for advertising and marketing gambling, similar to those in many other countries across the globe.