In April this year, Kindred Group announced that high-risk gamblers make up only 3.3% of the company’s profits. Three months later, this number remains the same but the company’s intervention measures have improved.
Kindred’s Journey to Zero Continues
Kindred is yet to reach its goal of making no profits from high-risk gamblers. A year ago, the company unveiled its “Journey to Zero” initiative, promising to do everything to not take revenues from problem gamblers.
Although the company currently takes only 3.3% of its revenues from high-risk bettors, it has trouble bringing this number down. For comparison, this percentage remained the same throughout Q3 2021, Q1 2022 and Q2 2022.
However, the steadiness of this number is more of a good thing as it means Kindred’s constant efforts are paying off. In addition, the company announced that many of its clients have improved after intervention. According to Kindred, launching the Journey to Zero initiative, the improvement effect after intervention rates rose by almost 20% (from 64.9% to 84.7%).
Speaking of intervention, Kindred said it opted for a more focused and cautious approach when tacking young gamblers. Research has shown that people between 18 and 25 are very susceptible to gambling harm. Furthermore, such people often have financial struggles which is why it is very important to properly protect them.
Kindred’s plan to provide relief to young bettors is to introduce a personalized approach that is tailored to their needs. This includes humanistic intervention and sensible loss limits.
Kindred Will Improve Its Efficiency and Speed
Henrik Tjärnström, Kindred’s chief executive officer, commented on the progress. He is somewhat frustrated that the company is yet to take the problem gambling profits to under 3.3% but praised the increase in the improvement effect after intervention. According to Tjärnström, this validates the company’s intervention approach.
However, we still have work to do to further decrease the number towards our ambition of 0% revenue generated from harmful gambling.
Henrik Tjärnström, CEO, Kindred Group
Tjärnström revealed that Kindred’s focus will be to boost the efficiency and speed in identifying high-risk gamblers. He emphasized that early intervention is critical in preventing gambling harm.
Lastly, Tjärnström said that the Journey to Zero would require Kindred to work with various specialists in the industry. To that end, the company is currently working together with QuitGamble.com, an online treatment platform.
Kindred Group recently relaunched in the Netherlands, one of its key markets. The company was forced to exit the Dutch market when it was re-regulated in October 2021. However, it now has the chance to reclaim its former Dutch audience.