Kindred harmful revenue steady at 3.3% as firm seeks to hit net zero goal

Kindred Group’s target of generating 0% of its revenue from problem gambling has somewhat stalled according to the firm’s latest report. 

The firm issued an update this morning revealing that total group share from problem gambling during Q2 2022 currently stands at 3.3%, the same as during Q1 2022 and in Q3 2021. 

On the other hand, the fact that the figure has remained steady for the past two quarters still shows a marked improvement on Q4 2021, when harmful gambling share stood at 4%, showing a positive effect since Kindred first announced its ‘Journey to Zero’ commitment last year. 

Additionally, the group has detailed progress on the ‘improvement effect after interventions’, which has risen consistently quarter-on-quarter from 64.9% in Q3 2022 to 84.7% from April-Jue of this year – during the two quarters in between also increased to 79.2% and 83.1% respectively.

“Even though the share from high-risk players is flat between the first and second quarter, it is good to see an increase in the improvement effect after interventions which validates our early intervention approach,” said Henrik Tjärnström, CEO of Kindred Group.

“However, we still have work to do to further decrease the number towards our ambition of 0% revenue generated from harmful gambling.”

Furthermore, on the topic of interventions, Kindred stated that a ‘focused and more cautious’ strategy has been taken for the 18-25 year-old demographic, the age group identified as being at higher financial risk and more prone to problematic gambling behaviour. 

The firm detailed that it has adopted a personalised approach to bettors in this age graphic over the past year, implementing loss limits and ‘humanistic intervention’, whilst its Responsible Gambling Analysts have operated with greater caution when managing these consumers. 

Tjärnström added: ”Our focus continues to be on increasing efficiency and speed in detecting and engaging with customers at risk, as we know early intervention is critical in preventing harmful behaviour. 

“We believe that in order to achieve the best possible approach to reducing harmful gambling, we need to collaborate with different stakeholders across our industry.”

Lastly, in pursuit of its net zero goals, Kindred has announced a partnership with QuitGamble.com, an web platform which provides treatment support to problem gamblers via its online community, video courses, mobile apps, guides and a self-assessment test.

Kindred explained that partnerships will continue to form a key part of its responsible betting strategy, as the firm seeks to promote collaboration between safer gambling stakeholders such as regulators, researchers and the gambling industry itself. 

“We are proud of the collaboration with Kindred,” Anders Bergman, Founder of QuitGamble.com, remarked. “It’s a quality assurance, and the collaboration will help us to support more people.”

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