Six key recommendations for firms to improve support for people experiencing gambling harms

“Don’t let the perfect be the enemy of the good.” It’s a mantra I’ve found myself saying a lot during my time working on the Gambling Harms Action Lab, where we’re currently working with seven current account providers and our Research Community of experts by experience to develop new solutions to reduce gambling harms. Together we’re creating new ideas with the potential to prevent serious harm – both financial and psychological. We’re not going to solve everything overnight, but let’s not let perfect get in the way of good when it comes to improving lives and preventing harm.

The Financial Conduct Authority’s Consumer Duty requires firms to do more to protect customers from foreseeable harm. The Duty is an example of this maxim too – as firms learn more about ways they can identify harm, they’re developing new solutions and tools to better support their customers. 

Banks have done a lot of work over the last few years to support customers experiencing gambling harms, but there’s more to be done – our Shining a Light report from last year found that 58% of people experiencing problem gambling had not accessed any form of support at all.

This leads us on to the question – what can we expect to see from the Gambling Harms Action Lab? The initiative is firm-led and the team is supporting individual firms to deliver on their objectives. In a recent blog, we explored the harms that can stem from gambling in overdrafts, but that’s not all – there are many other areas that we could look to cover during the programme. 

Here are six other recommended areas of focus that we could explore with members of the Gambling Harms Action Lab:

The financial services sector has almost unanimously adopted the option for customers to block gambling transactions on their account. The mechanism, something which Money and Mental Health called for back in 2017, has supported people who are beginning their recovery journey to stop gambling.

However, there are improvements that can be made. That might involve increased personalisation around the messaging of gambling transaction blocks, more effective signposting to existing support services or the option to extend a cooling-off period (The time  after which a user would turn off a gambling block and be able to gamble once more).

Current account providers are able to see how much we’re spending on gambling in any given period of time. There is an opportunity to explore how banks can offer this insight directly to consumers, along with effective support and signposting, to those experiencing harm, in turn reducing or eliminating the impact on their wellbeing.

Many gambling operators offer the opportunity to set spending limits, but this is done on an operator-by-operator basis. Current account providers could opt to provide a spending limit functionality for customers across all gambling spend, allowing customers to tailor their experience. 

There is an opportunity to ensure that customers are informed of the risks associated with high levels of gambling spend, and can be integrated with external support organisations for those who need it. Firms could also support individuals to set limits at a level to help prevent them from experiencing severe forms of gambling related financial harms. 

Current account providers have a wealth of information about our spending and the amount and frequency of gambling deposits. Firms should consider how to use this data to analyse specific spending indicators of gambling harms, such as sustained high levels of gambling spend over a time period whereby it impacts someone’s ability to afford essential spending on household bills and or other non-negotiable expenses. Banks can identify where this is occurring and proactively support customers experiencing this harm. 

This extends beyond just the value or frequency of deposits too – firms can use this insight to see behavioural indicators of harm, such as repeatedly making deposits to gambling operators, or an increase in gambling activity at unsociable hours, such as through the night. This can be a further indication of the emotional or social impacts of gambling on someone’s well being.

Firms should look to continually update and refresh their signposting, and build relationships with the relevant external services to ensure that they are up to date and following best practice.

This should include ‘warm referrals’ and clear detail about the support pathways available to people. We know that too many people are still not accessing the support they need, so exploring ways to bridge that gap is essential.

Current account providers have an opportunity to be a vital source of support to customers experiencing gambling harm. Banks should continue to ensure those in direct contact with those experiencing gambling harms have up-to-date training to ensure the best possible outcomes. 

This training should also be expanded to those with a role in developing new products and tools – ensuring that this insight is informing discussion from the outset of any new solution that is in development.

When dealing with complex subject matters, doing something and improving is better than perfection. Many of the recommendations and areas of focus will present new challenges and opportunities for learning as we work to improve support, but that does not mean we should stop trying. 

The six recommendations above are intended as a starting point – we’re really keen for firms to identify problems and new solutions – as such, our body of recommendations and tools from the Gambling Harms Action Lab will evolve over the next 18 months. 

This is why here at Money and Mental Health, we’re working directly to explore and develop new and improved solutions and support for people experiencing these harms. We don’t need to be perfect – so let’s do some good.