Saturday, September 30, 2023

Kindred’s share of revenue from harmful gambling drops to 3.3% in Q1; offers RecoverMe app for free in US, UK | Yogonet International

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Kindred Group published on Tuesday the share of revenue from harmful gambling report for Q1, 2022, which decreased to 3.3% from 4.0% in the fourth quarter of 2021 and 3.9% in Q1 2021. Additionally, the company also entered a collaboration with RecoverMe, an app supporting users to regain control of their gambling habits.

The positive trend has been impacted by seasonal changes, with the first quarter historically seeing lower shares of revenue from harmful gambling year on year, as well as an optimised process for manual interventions towards high-risk customers. This has resulted in fewer customers being re-detected following interventions, leading to a more sustainable gambling behaviour which is one of the goals outlined in the company’s roadmap. Kindred also continues its more cautious approach to the younger demographic (age group 18 to 25), since this group is at higher risk of harmful gambling and more prone to addiction. The increased focus has resulted in a larger decrease in the percentage of harmful revenue from this demographic group.

During the quarter, Kindred updated the improvement effect metric after interventions. Instead of only focusing on financial indicators, the metric now includes behavioural indicators, which is more aligned with Kindred’s detection system, PS-EDS.

“We started 2022 with a focus on targeted deliveries. Our team has specifically focused on optimising our manual interventions further, resulting in a higher percentage of customers showing healthier gambling behaviour after they have been detected and contacted by our responsible gambling team,” said Henrik Tjärnström, CEO of Kindred Group.

Kindred has also entered a collaboration with the team behind the RecoverMe app, which uses research-proven techniques to help users regain control of their gambling habits. Thanks to the collaboration, Kindred can offer the app to its customers for free, initially in the UK and the US.

“Only eight per cent of individuals with problem gambling seek help due to the stigma associated with the addiction, inaccessibility and lack of awareness of treatment options. RecoverMe’s partnership with Kindred is a vital lifeline in helping us provide care to those that need it most. We believe passionately that collaboration with organisations like Kindred will help us reach those that need support and historically have been individuals who are difficult to reach and access therapy,” commented Tejus Patel, Junior Doctor at King’s College Hospital NHS Foundation Trust and co-founder of RecoverMe.

Henrik Tjärnström, CEO of Kindred Group.

“I am very proud that we have entered the collaboration with the team behind the RecoverMe app, ensuring we can offer this service for free to all our customers in the UK and the US. We are also sponsoring additional PhD programmes on addiction studies, enabling these students to study and work full-time in academia. Our focus right now is to continue to increase efficiency and speed in engaging with detected customers as early intervention is critical in preventing harmful behaviour,” concluded Tjärnström.

Kindred Group has set an ambition to reach zero per cent revenue from harmful gambling by 2023 and to report this metric on a quarterly basis. 


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