The University of Nevada, Las Vegas (UNLV) recently conducted a groundbreaking study on iGaming payments and its impact on gambling addiction. The study, which was published in the Journal of Gambling Studies, sheds light on the potential risks of online gambling and the need for responsible gaming practices.

The study was conducted by Dr. Brett Abarbanel, Director of Research at UNLV’s International Gaming Institute, and her team. They analyzed data from over 10,000 online gamblers in the United States and Europe to understand the relationship between payment methods and gambling behavior.

One of the key findings of the study was that using credit cards for online gambling was associated with higher levels of problem gambling. This is because credit cards allow players to easily access funds and continue gambling even when they have exceeded their budget. In contrast, using prepaid cards or e-wallets was associated with lower levels of problem gambling as they require players to set a limit on their spending.

The study also found that the use of cryptocurrencies for online gambling was on the rise. While this payment method is relatively new, it has the potential to increase anonymity and make it easier for players to gamble without detection. However, the study found that there was no significant difference in problem gambling rates between those who used cryptocurrencies and those who did not.

The UNLV study has important implications for the iGaming industry and policymakers. It highlights the need for responsible gaming practices and the importance of offering a variety of payment options to players. It also suggests that regulators should consider limiting the use of credit cards for online gambling to reduce the risk of problem gambling.

In response to the study, some online gambling operators have already taken steps to promote responsible gaming. For example, some have introduced tools that allow players to set limits on their spending or take a break from gambling if they feel they are developing a problem.

Overall, the UNLV study is an important contribution to the field of gambling research. It provides valuable insights into the relationship between payment methods and problem gambling and highlights the need for responsible gaming practices in the iGaming industry. As online gambling continues to grow, it is essential that we continue to study its impact on society and take steps to mitigate any potential harms.