DraftKings asks for more social gaming regulations

The CIO of the company said that the current situation of social gaming regulation is “preposterous”.

US.- Jeffrey Haas, Chief International Officer of daily fantasy sports (DFS) operator DraftKings, has urged more regulations in social gaming, as he believes that the current situation is “preposterous.” The executive believes that players should be offered the same protections as they are by gaming operators, and he fears that it will reflect negatively on the gaming industry.

“I think the current lack of regulation for social gaming is preposterous. There is a significant element of potential harm to consumers if they play irresponsibly, where they cannot set deposit limits, play limits or loss limits. These social gaming companies are generating hundreds of millions of dollars per year in revenues, and how can we be sure they are running fair games? How can we be sure they are protecting consumers?” he said at the iGB Live! show.

“Regulators will come in at some point, whether it’s in banking, consumer affairs or gaming. I think it’s important to be ahead of the curve with these things, to ensure operators are operating with integrity and consumers are protected so that they don’t lose money they can’t afford to. The result of which could be a bad thing for any company that operates within the gaming industry or even gaming/entertainment,” he added, as Gambling Insider reported.

Haas believes that as an industry they have failed to proactively address consumer safety issues. “Any gaming company, and not necessarily gambling company, should be thinking about their best practice with any product that could potentially harm players.”