Join us as we revisit the first few years of the Journey to Zero project and take a look at what is in the pipeline for 2023 to achieve 0% harmful gambling revenue by the end of the year.
February 2021 saw the Kindred Group commit to the lofty goal of reducing its income from harmful gambling to zero by the end of 2023. Since then, the company has made great strides in achieving this goal, but as with all great plans, they have hit a plateau at around the 3.3% mark.
At the time that the project was conceived, they declared:
Quote“Our dedicated work is guided by the near-time ambition stating that zero percent of the revenue from our platform should be generated from harmful gambling by end of 2023, as well as being a trusted contributor to a fact-based dialogue.”
Join us as we look at what they have achieved to date, what challenges have been discovered and what is needed to achieve their goal by the end of the year.
Do Not Despise Small Beginnings
It is indisputable that three years was an insanely aggressive timeline. Still, you must appreciate a company willing to drive towards a goal rather than remain non-committal to claim false victories.
In 2020 the company recorded harmful gambling revenue figures that ranged from 3.9% to 4.7%. It was not until Q1 of 2021 that the project saw its first glimmer of hope as the high-risk ratio dropped to its lowest point of 3.3%. It was also in 2021 that the company's low-risk ratio began an upward trend that continued into 2023.
It is worth noting that the medium risk category has seen the most significant decline since the beginning of the project. Revenue from this grouping peaked at 9.9% in Q1 2020 and has been as low as 4.6%.
Time to Push for the Finishing Line
The Journey to Zero project saw its most consistency in 2022, with Q1, Q1 and Q4 revenue figures only attributing 3.3% to high-risk players.
However, with the end of 2023 trickling closer with each day that passes, they need to do something big to break through the 3.3% glass ceiling.
This concern was addressed by Henrik Tjärnström, CEO of Kindred Group when he said:
Quote“I’m glad to see that the share of revenue from harmful gambling is once again on a downward trajectory. However, as we review the trend over these past two years, it is clear that there is still significant fluctuation and that the curve has not been as steadily declining as we hoped.”
Far from admitting defeat, Kindred just announced the formation of the Journey towards Zero Panel, described as "a diverse range of expert organisations from across the gambling community and lived experience", to guide Kindred on practically achieving their goals goal of zero harmful revenue.
The expert panel comprises members from BetKnowMore, DealMeOut and EPIC Risk Management and the Advisor on Responsible Gambling, Maris Catania.
Jordan Lea, CEO of DealMeOut, said:
Quote“The Journey towards Zero Panel is a groundbreaking and important piece of work. It is an honour to support it, and it will be an excellent opportunity for many with a wealth of experience from across the sector to ensure Kindred are best equipped to prevent gambling harm.”
The first significant action item on the panel's agenda is shaping the future of Kindred's PS-EDS system (Player Safety – Early Detection). In addition, they will be hosting various workshops and speaking to focus groups to highlight programs and tasks that help the company reach its objective.
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