Croatia gambling industry warns RG reforms may have negative impact

We also exclude firms that operate in controversial industries (alcohol, gambling, tobacco, etc.) since firms that operate in these industries have no discretion to avoid CSR concerns and they are inherently different (El Ghoul et al. 2011). After we delete observations with missing values, our final sample used in our main analysis consists of 13,410 firm-year observations (an unbalanced panel of 1,642 U.S. firms) from 1996 to 2018. Researchers define a gambling attitude as characteristics that subjectively overweight the good states of the world, i.e., a large focus on the chance of winning (Schneider and Spalt 2016; 2017).

Collaborate With Casinos to Offer Charitable Contributions!

• When facing low probability of winning, the agent tends to overweight the positive tail of distribution.
• Casinos have introduced various programs and tools designed to help players gamble responsibly.
• Utilizing qualitative research methods, the research focuses on interviews with co-researchers to gather insights on their perspectives regarding gambling and social responsibility.
• They should also train their staff to identify and assist customers experiencing gambling-related issues.

These partnerships enable casinos to offer comprehensive support to individuals struggling with gambling addiction. The casino industry demonstrates a commitment to fostering a safer and more responsible gambling environment through funding research, providing grants, and facilitating access to counseling services. We use Institutional Shareholder Services (ISS) for board of directors control variables. Since ISS data is available starting from 1996, our sample period is between 1996 to 2018.

CSR Initiatives by Betting Companies

These include self-exclusion options, limit-setting tools, and educational campaigns that raise awareness about the risks of gambling addiction. By providing these resources, casinos aim to mitigate the negative impacts of gambling and support the well-being of their customers. Existing studies have demonstrated that firms’ CSR activities can be categorized as institutional and technical CSR engagements.

Having a transparent corporate social responsibility policy is a good start to tackling the problem of gambling, which has been the lead cause behind the recent attack on the iGaming industry. Here, you will learn why the gaming industry needs CRS to foster a better gambling experience for gamers. As the iGaming sector charts its evolutionary course, driven by technological innovation and ethical consciousness, it stands on the precipice of setting new benchmarks for responsible and ethical business practices.

This is because qualitative researchers are generally operating outside the methodologically accepted framework of traditional science where the philosophical assumptions are generally accepted unquestioned. Researchers need to have the rhetoric to defend their methodological decisions and to situate their arguments within a broad understanding of the arguments that are being discussed in the Philosophy of Science literature. Notwithstanding the worth of working through the first section of this chapter the reader is invited to skim it initially and move quickly to the main section of the chapter concerning Research Practice Within the Constructivist Framework. It may be that after reading the methodological implications for research practice that the reader will be more interested in returning to the philosophical foundations for these practices. The global gambling industry generated over $565 billion in 2021, but also faces scrutiny regarding its social impacts and ethical obligations. This article explores the concept of corporate social responsibility (CSR) within the gambling sector, analyzing key issues like problem gambling, regulatory approaches, and examples of responsible policies.

2 CSR measures

Barberis and Huang (2008) demonstrate that an agent puts a greater weight on the positive tail distribution of the value function by applying the transformed cumulative probability weighting. When facing low probability of winning, the agent tends to overweight the positive tail of distribution. Hence, the agent is in favor of positively skewed or lottery-like investments, exhibiting a characteristic consistent with a gambling attitude. A higher weight on the potential gain makes individuals incline to gamble even for a small probability of a large potential payoff because of their loss aversion from missing a chance of winning a big payoff. Regarding the economic dimension, reference is made to the fact that the company is expected to be economically sustainable over time, that is, that it generates profits and remains afloat in the market.

As the casino sector continues to evolve, its commitment to corporate social responsibility will play a crucial role in shaping a positive and responsible future. Many casinos publish detailed CSR reports that outline their roobet initiatives, achievements, and future goals. These reports provide stakeholders insight into the casino’s commitment to responsible business practices and allow for accountability. Through transparent communication, casinos can demonstrate their dedication to ethical governance and continuous improvement.