Submission Title
The application of transactional fairness to the gambling sector
Session Title
Session 1-4-D: Policy and Regulation, Part 3
Presentation Type
Paper Presentation
Location
Park MGM, Las Vegas, NV
Start Date
23-5-2023 3:45 PM
End Date
23-5-2023 5:15 PM
Disciplines
Economic Theory
Abstract
The idea of ‘fairness’ in consumer protection has been discussed for a long time. However, more recently there has been a renewed focus on the use of unfair pricing practices and terms in consumer markets and regulators and lawmakers are responding. Practices which can be considered unfair often emerge as companies develop new and innovative ways to engage with consumers including offering different prices and / or terms to different sets of customers.
Being ‘fair and open’ is an important principle for gambling regulation. In that context, this paper focusses on fairness in gambling markets and seeks to develop a framework comprising of general principles against which the fairness of gambling terms can be assessed. The findings of this paper could have impacts not only on the behaviour of firms but could also offer consistency across markets and in regulation.
Keywords
Consumer protection, gambling regulation, transactional fairness, fairness
Funding Sources
No funding received
Competing Interests
The authors are part of a consultancy team that provides services to gambling operators and regulators
Included in
The application of transactional fairness to the gambling sector
Park MGM, Las Vegas, NV
The idea of ‘fairness’ in consumer protection has been discussed for a long time. However, more recently there has been a renewed focus on the use of unfair pricing practices and terms in consumer markets and regulators and lawmakers are responding. Practices which can be considered unfair often emerge as companies develop new and innovative ways to engage with consumers including offering different prices and / or terms to different sets of customers.
Being ‘fair and open’ is an important principle for gambling regulation. In that context, this paper focusses on fairness in gambling markets and seeks to develop a framework comprising of general principles against which the fairness of gambling terms can be assessed. The findings of this paper could have impacts not only on the behaviour of firms but could also offer consistency across markets and in regulation.