The Gibraltar Betting and Gaming Association (GBGA) announced today a foundation that will aim to fund research into problem gambling has been registered as a charity.
Support for Empirically-Based Solutions
The Gibraltar Gambling Care Foundation (GGCF) will focus on funding research in areas that could provide the gaming industry and government regulators with empirically-supported knowledge on how to minimize gambling harm, address the impact from gambling disorders, as well as ensure effective protection for consumers at risk.
“We are thrilled that the Foundation is up and running and that we can now commence the funding of research into these critically important areas with the support of the University of Gibraltar.”Stephen Reyes, Chairman, Gibraltar Gambling Care Foundation
The GGCF will initially fund research at the Centre of Excellence in Responsible Gaming (CERG) set up at the University of Gibraltar. The charity will operate independently from the gaming association and will be guided by councilors Stephen Reyes and Selvan Soobiah, while Belvedere Trustees Limited will serve as a corporate counselor.
“This is a pivotal step change for all Gibraltar licensed operators and the jurisdiction as a whole. Having now raised an initial £2.5m from Gibraltar licensed operators, we are proud to be able to hand over a well-funded foundation to Stephen and Selvan to progress responsible gaming research and development.”Nigel Birrell, Chairman, Gibraltar Betting and Gaming Association
The representative body of the gaming industry in Gibraltar already raised from its members more than £2.5 million to support to set up of the research facility and ensure enough funds for it to operate in the next 3 years. The money came from 7 operators which failed to meet AML compliance.
“Gibraltar is known globally as a premier jurisdiction in the online gambling area, so it is great that as an industry the operators have come together and set up and formed this charitable foundation to invest in academic research to inform effective initiatives to encourage responsible gambling and prevent gambling harm.”Stephen Reyes, Chairman, Gibraltar Gambling Care Foundation
Scope of Funding
The GGCF will fund research on the impact of problem gambling on individuals, families, and society and means to address negative consequences, as well as on gambling addiction and other problem behaviors, including the mitigation factors to prevent these adverse effects.
“The GBGA, via the GGCF will be supporting the creation of an industry leading research programme aimed at exploring solutions to minimise gambling related harm and the creation of open-source databases for academic studies.”Nigel Birrell, Chairman, Gibraltar Betting and Gaming Association
The charity will also provide funding for any practical solutions aimed at minimizing problem gambling-associated harm, as well as for the identification, monitoring, and measuring criteria related to problem gambling.
The final research area supported by the GGCF will be to create, co-ordinate and manage an online gaming industry database which will assist research efforts into problem gambling and safer gambling measures.