Epic Risk Management is a consultancy agency that aims to take the problem out of gambling. They do this by delivering high-quality education and risk management consulting to organizations that are considered in the highest risk sectors.
Located in Dallas’ most progressive area, The Epic is a momentous mixed-use experience featuring contemporary office space, a signature hotel, high-rise living and carefully crafted retail offerings. The innovative architecture of The Epic’s three buildings — The Epic office tower, the historic Pittman hotel and The Hamilton residential building — harmonizes with pedestrian-friendly.
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Currently Epic already has over 2 employees worldwide or in 14 different countries and its CEO, Paul Buck, is known for his talks about gambling and its safety. Paul and the employees provide programs, education, training, and strategic consultancy for the gambling industry.
Epic builds strategic partnerships with councils, leagues, and decision-makers in many places or countries to make sure that safety is the priority for all gambling places like casinos and even casinos and sportsbooks online.
Paul expressed that he and his team want a sustainable industry with less harmful products. He also wants to make sure that advertising gambling will be done in correct tones. Currently, they would usually choose to work with operators that are genuine when it comes to implementing safety for customers.
Epic has been recently involved with two of the big fives when it comes to gambling. They aim to discuss safer gambling pledges from Sky Betting and Gaming and GVC. Paul stated that safer gambling has become quite a competition between operators, but it’s now, it’s just great that these operators are now working on this together.
- The rig we are building should easily let you play most games at 1440p and a stable framerate. Though, if you have dreams of 4K gaming, you'll need something a little more extreme (and expensive).
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The gambling industry remains a huge industry that earns billions of dollars each year. In fact, the gambling market worldwide is expected to earn over 500 billion US dollars by the year 2023 with a CAGR of around 4 percent.
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Gambling includes land-based casinos, online casinos, Bitcoin gambling, sports betting through land and online bookies. Altogether, these sectors create an industry that many people around the world are starting to enjoy more.
Addiction is still a problem in many countries. This is especially in countries where gambling is fully accepted. However, governments and organizations like Epic are pushing for safer ways to go about this. This is why it takes a while for gambling legislation to be finalized.
Take for example how sports betting is becoming legal in parts of the US. It was in May 2018 when the Supreme Court of the United States has stricken the Professional and Amateur Sports Protection Act of 1992. This meant that each state in the US will have the power to decide whether they would like to legalize sports betting in their borders or not.
It’s already proven that sports betting can help each state gain more revenues and so it just makes sense for them to allow this right away. However, they are also well-aware of how they should protect their citizens and even athletes to the dangers of this.
While there are a few states that only took a few weeks or months to launch sports betting within their territories, there is also some state who are taking their time to finalize the legislation. An example is Illinois.
Many gamblers who are residing in Illinois have recently expressed their frustrations when it comes to the launch of legal sports betting in the state during a comment period recently. This is because legislators in the state are very careful when it comes to establishing rules regarding this.
Outside the US, Australia has a different story. This is a country known to be one of the countries with most gamblers. It’s the pokies that are really popular to Australians but they also gamble in different ways.
It is reported that Australians are now at a high-level problem when it comes t this.Over 200,000 Australians are losing a lot of money through this. On average, Australians spend about A$1,300 per capita a year on gambling.
Other countries that made it on the list of high gambling problems are Singapore, Ireland, the United Kingdom, China, India, Finland, Italy, and Canada. Epic is currently known to be working with operators and leagues in the US, UK, and Ireland.
The team still wants to continue to get the message across worldwide. They want to normalize safety in gambling and that it should be the first thing that operators think about. Recently, they expressed that the professional and individual sports are what they’re working on.
“The industry is at a tipping point in regulation, self-regulation, sponsorship, customer interactions and affordability,” Paul said in an interview. “If the gambling industry is to truly become or remain sustainable then it needs to learn from its mistakes of the last 10 years, not just the industry operators but also regulators and commissioners.”
HomeFortniteEpic Games Faces Lawsuit over Loot Boxes in 2019
Loot boxes have long been called out as a form of gambling. This is particularly true in the latest lawsuit lodged against a developer. Epic Games, the creator of the famous Battle Royale Fortnite, has been caught up in litigation.
- Epic Games faces a lawsuit targeting loot boxes
- The lawsuit focuses on “past damages”
- Loot boxes are increasingly resembling gambling, some believe
Epic Games Sued Over Facilitating Underage Gambling
In a lawsuit filed on Thursday, Fortnite creators’, Epic Games, have been accused of deliberately facilitating underage gambling through the use of loot boxes. The lawsuit stipulated that Epic knowingly developed a “predatory scheme”.
The plaintiff, one Steve Altes, reported that Epic Games had intentionally misinterpreted and miscommunicated the chance of receiving valuable items out of loot box purchases. The line of accusation isn’t exactly new.
Mr. Altes is alleging that Epic Games continue to try and prompt youngsters into buying loot boxes, promising a fair chance of return in the form of an item when in reality, the chance for such a return is misleadingly low. The complaint reads as follows:
“Rising to the forefront in a multi-billion-dollar video game industry, Epic has perfected a predatory scheme whereby it exploits players, including minors, by inducing them to purchase in-game loot boxes in the pursuit of the best in-game item schematics, heroes, and survivors.”
Epic Games have been trying to adjust their policy regarding the purchase of “the Llamas”. In January, the company decided to put a stop on blind loot box purchases, offering players an opportunity to look for free what a particular Llama may drop.
The company also made sure to excise any multiple-purchase offers, thus seeking to introduce more deterrents to a potentially dangerous behavior. While the motivation behind the case has merit, the exact phrasing of the lawsuit may lack some substance:
Since discovering Epic’s material misrepresentation and omissions, Plaintiff R.A. has ceased to purchase any further Llamas from Epic. However, if Epic changed its practices so as to comply with the law, Plaintiff R.A. would consider purchasing Llamas in the future.
Interestingly, the lawsuit doesn’t consider the fact that the loot boxes policies have indeed changed. Another peculiar point is the line that reads “comply with the law.” There’s presently no law that regulates loot boxes in the United States
Learning from Past Mistakes
Valve Corporation is the best example of a company that got into hot water in 2016 when it was sued for allegedly facilitating underage gambling. The lawsuit took quite the dimensions and it quickly led to shutting down a number of websites that were offering skin trading.
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Loot boxes have already been the subject of heated debate in places like the Netherlands and Belgium, with both countries deciding against them. The UK Gambling Commission (UKGC) has said that loot boxes don’t constitute gambling, at least for the time being, but recent statements by the Labour deputy leader Tom Watson may soon change the legal status of loot boxes in the country.
In the United States, the Securities and Exchange Commission (SEC) has said that it would look closer into the nature of loot boxes.
Epic Games Faces Lawsuit over Loot Boxes in 2019
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Epic Games will be challenged in court by a plaintiff who has claimed that Fortnite's loot boxes are misleading and facilitate underage gambling.
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