What are the Effects of GDPR for Betting Businesses?

Betting businesses depend on gathering and processing private data to provide gamblers with a personalized betting experience. They consider private preference when determining on which proposals and bonuses to offer. They also require to gather and use fiscal information, to support clients to withdraw and deposit cash from their betting account.

From 26 May 2018, all betting businesses that process data pertaining to clients who live in the European Union will have to abide by with the GDPR when they are doing business with this data.

The Change that Data Movability will Make

Among the biggest modifications for betting businesses, when it comes to GDPR conformity, is data movability. This implies that not just do clients have the entitlement to request particulars of private data held, by generally used methods like electronic mail; they can also request for data to be transmitted to another business. This only pertains to data that has been collected with the approval of a person.

What this implies for betting businesses is that they might be required to shift customer data to a rival.

Other GDPR concerns for Betting Firms

Data movability isn’t the only thing that betting firms need to think about when GDPR becomes a reality. They also require to mull over the following problems:

  • Showing compliance – all firms will have to be able to show that they are abiding by the GDPR. This implies keeping records of problems like approval.
  • Each European Union member country will have a separate Lead Supervisory Authority. This implies that some betting firms might have to inform to more than one organization.
  • Most firms that handle large-scale data handling will need to hire a data protection officer (DPO) who must have a high level of proficiency in the area and be neutral.

Given all of these aspects, you can understand that the launch of GDPR might have a significant effect on betting firms. This means that it is essential for them to be well prepared.