#Monzo

The Guardian

‘No way out’: how video games use tricks from gambling to attract big spenders

One evening in April, Carrie* sat down and wrote a suicide note to Zynga, the maker of mobile phone games such as Farmville and Words With Friends. Carrie had been spending uncontrollably on one of Zynga's less well-known apps, Wizard of Oz Slots, a game that mimics casino slot machines but with no payout available. A recovering gambling addict,…

Industry ・ 14 July 2023

Casino Guru

Monzo: Consumer use of gambling blocking tools increases

The increase in costs of living has prompted many more people to gamble, but it's not all bad, argues Monzo, an online bank in the United Kingdom, which has taken a detailed stock of the market and noticed that consumers are increasingly turning to gambling-blocking tools to control their spending and habits. Monzo itself is a pioneer in the…

Gambling Addiction ・ 15 December 2022

Vegas Slots Online

Bank Account Gambling Block Usage on the Rise in the UK

More and more people in the UK are now using tools that block them from engaging in gambling in the midst of the cost-of-living crisis. Online bank Monzo has disclosed that about 50000 of its customers have activated a gambling block on their accounts for the very first time in the last six months. blocking 20% more gambling-related transactions in…

Gambling Addiction ・ 13 December 2022

Gambling News

Monzo’s Gambling Protection Tools Set an Example for the Banking Industry

UK-based online banking provider Monzo shared some data regarding its gambling block tool. The company was one of the first to provide a similar service, and recent reports indicate that significantly more people have been taking advantage of it. Monzo's customer-centric approach has also inspired other financial institutions to introduce similar…

Payment Methods ・ 12 December 2022

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Sky News

More people turn to banking tools that block them from gambling amid cost of living crisis

Online bank Monzo revealed that it has seen 50000 of its customers make use of its gambling block tool for the first time over the past six months. This is a third more than the number of people who started using it in the previous six months. The lender also blocked 20% more transactions than it did in the prior period, it said. It added that half…

Gambling Addiction ・ 12 December 2022

Telemedia Online

How mobile phones have impacted a game of bingo

Mobile phones are more popular than ever, with many people even forgoing landlines in their houses for their smart devices. According to research, 6.648 billion people use a smartphone, meaning approximately 83.37% of the world's population own one and use it regularly. This figure is projected by researchers to grow by 7.7 billion in 2027. If it…

Mobile ・ 11 November 2022

Derbyshire Live

Gambling addict blew entire salary within hours of getting paid

We've all been there at some point, you've had a rough month and you are eagerly counting down the hours until your employer drops that sweet pay into your bank account. However, when that moment came, 33-year-old Danny Cheetham gambled every penny he was paid within under three hours. The 33-year-old told said: "The worst moments were walking into…

Jobs ・ 10 October 2022

European Gaming

SOFORT, Klarna’s Direct Bank Transfer Payments Service, Enables UK Gambling Block for Direct Bank-to-Bank Payments

Klarna, a leading global retail bank, payments and shopping service that helps consumers save time and money, be informed and in control of their finances, announced it is enabling banks to extend voluntary gambling blocks to open banking-driven payments powered by its subsidiary, SOFORT, helping protect hundreds of thousands of UK consumers. UK…

Payment Methods ・ 02 May 2022

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AltFi

Klarna’s open banking arm integrates Monzo’s gambling block

Four years on from the Monzo's gambling block feature 400000 Monzo customers have activated it while many millions of others are covered by their banks who took the initiative. In 2018 Monzo demonstrated the innovative power of neo banking by quickly building a feature that allows users to block themselves from using gambling websites in a bid to…

Payment Methods ・ 01 May 2022

Gambling Insider

Klarna launches voluntary gambling blocks for open-bank payments

Sofort, a payments solution subsidiary of Klarna, has developed the UK's first open-banking voluntary gambling block, aiming to allow customers to control their betting habits through digital payments. The technology, first developed by Monzo and TrueLayer for card-based payments, enables customers struggling with problem gambling to block payments…

Payment Methods ・ 29 April 2022

IBS Intelligence

Klarna enables the UK gambling block for direct bank-to-bank payments

Bank to Bank Transfer Europe FinTech Klarna, a leading global retail bank, payments and shopping service that helps consumers save time and money, be informed and be in control of their finances, announced it is enabling banks to extend voluntary gambling blocks to open banking-driven payments powered by its subsidiary, SOFORT, helping protect…

Payment Methods ・ 29 April 2022

Finextra

Klarna brings gambling block to open banking payments

Klarna is enabling banks to extend voluntary gambling blocks to open banking-driven payments through its subsidiary, Sofort, using public code developed by Monzo and TrueLayer. Monzo, was the first bank to introduce a gambling block in 2018, following demand from customers who wanted help controlling their use of gambling sites. Since then most UK…

Payment Methods ・ 28 April 2022

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Online Bingo

New MrQ feature makes it easier to collect winnings

Online bingo and slot site MrQ has always tried to make it easy for players to withdraw their hard earned winnings. Whether it's the wager-free welcome bonus that means all winnings are yours to keep or the integration of open banking that connects directly to your bank. The latest new feature from MrQ is the addition of HooYu KYC as a part of the…

Winnings ・ 22 February 2022

Great Andhra

How To Stop Gambling At All

A spike in the online gambling industry in the UK in recent years proves beyond doubt the popularity of gambling nationwide. In spite of being an easily accessible method of entertainment, no one can deny the infliction of harm gambling is capable of. Even the recovery continues for a length of time which leaves a person drained. It continues to…

Gambling Addiction ・ 18 December 2021

EconoTimes

What to expect from the casino market in summer 2021

Over the past year, the way the world does business has evolved in an incredibly short space of time. While many industries have been hard hit by a lack of visitors to physical stores, the online casino sector has continued to flourish. According to the European Gaming and Betting Association, the EU makes up around 50% of the global online betting…

Industry ・ 17 September 2021

Tech Guide

How to prevent gambling harm

Considering the current situation where the gambling industry in the UK is considered as one of the fastest-growing industries, it is important to acknowledge the addictive nature of gambling and with this rapid rise of the gambling industry, it is the people who are paying a price. Studies have shown almost 2 million people are at risk of going…

Gambling Addiction ・ 17 July 2021

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European Gaming

GambleAware Publishes New Reports and Guide for Financial Services Industry to Help Prevent Gambling Harm

GambleAware has published a new report by the Behavioural Insights Team which analyses behavioural datasets to understand whether these could be used to build a clearer picture of the ways in which people gamble, identify possible harms, and eventually inform prevention, treatment, and support responses. The commissioned research analysed bank…

Industry ・ 15 July 2021

iGaming Business

Study suggests gamblers also have higher spend in non-gaming activities

The report was split into two sections- one for the Monzo portion of the study, and one for the HSBC UK findings. It is hoped that the results of the report will lead to developing prevention of irresponsible gambling and provide support for those who require help. Monzo shared anonymised daily transactions for 10000 of its customers, spanning an…

Gambling Addiction ・ 14 July 2021

Casino Reports

BCLC Reveals What Happened during Problem Gambling Conference

British Columbia Lottery Corporation has always been working towards creating a healthy relationship between patrons and their gambling habits. One of the initiatives in this direction was no other than the annual New Horizons in Responsible Gambling Conference gathering experts working to promote responsible gambling on a day-to-day basis. This…

Gambling Addiction ・ 07 May 2021

Finextra

Monzo calls for mandatory gambling blocks on all UK bank accounts

Monzo has called on the UK Government to mandate the use of gambling access blocks on all UK bank accounts. The open letter, supported by top NHS clinicians, gambling harm charities and leading academics, calls for new rules that would mean every bank customer in the UK has access to a gambling block on their account, regardless of who they bank…

Law ・ 16 February 2021

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Forbes

The Entrepreneur Who’s Helping Gamblers To Beat Their Addiction

Battling any type of addiction can be a daunting task. For Jack Symons the addiction was gambling. While many people enjoy betting on slot games, sports events, and online casinos, problem gambling is a very real problem that affects millions of people all over the world. Having tried everything, from parental controls software to gambling-blocking…

Gambling Addiction ・ 19 January 2021