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Psychology of Online Casinos vs Land Based, Analysis of 41 Studies

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Scientists have uncovered new information that may uncover why some people have problems controlling their gambling — and reveals all the ways casinos may be encouraging bad behavior

Leanbackplayer has released a summary of new findings on the psychology of gambling and how it affects the brain:

The research looked at 41 studies from 17 different journals over the past 5 years and compiled findings from each.

The research was performed by Will Titterington and Quincy Miller, veteran gaming industry professionals.

The Research Findings

Finding #1
Online casinos have built-in advantages that their brick-and-mortar counterparts struggle to match. Online casinos are more convenient, require less overhead to operate, and allow players to gamble in complete anonymity — important advantages that regular casinos will never be able to replicate.

“In online live casino gaming, the anonymity of the internet allows players to privately engage in gambling without the fear of stigma,” said Dr. Mark Griffiths, a Distinguished Professor of Behavioural Addiction at Nottingham Trent University.

Finding #2
The biggest advantage brick-and-mortar casinos have is consumer trust. Despite advances in cybersecurity, many gamblers simply don’t trust online casinos not to rig the games against them. As long as brick-and-mortar casinos have the edge in trust, they’ll likely enjoy a large slice of the gaming market.

Finding #3
Online casinos may be more dangerous for problem gamblers. The ability to gamble at any time, day or night, without any of the traditional societal safeguards that keep problem gamblers in check can be a recipe for disaster.

“Fundamentally, increased accessibility of gambling activities enables the individual to rationalize involvement in the risk-behavior by removing previously restrictive barriers such as time constraints emanating from occupational and social commitments,” Griffiths said.

Finding #4
Gambling utilizes the power of uncertainty to literally reprogram the brain. Gambling changes how the brain releases dopamine, the so-called “feel-good neurotransmitter.” Over time, the brain adjusts to higher and higher doses, reducing its effectiveness, so that gamblers have to play longer and bet more to get the same effect.

According to one study, the release of dopamine reinforces maladaptive gambling, creating a self-perpetuating destructive behavior.

Finding #5
Casinos — both online and brick-and-mortar — are using new technology to exploit players’ brains. Advances in gaming technology — most notably “losses disguised as wins” — are changing how long players gamble and how much they wager, often with catastrophic results.

Finding #6
The root of gambling addiction may lie in the supplementary eye field (SEF), a little-understood region of the brain designed to control the movement of the eyes. People with dopamine deficiencies also experience abnormalities in the SEF, making them more susceptible to addiction.

Researchers investigating monkeys found that increased neuron activity in this region corresponded to increased risk-taking behavior, and a lack of dopamine increased neuron activity, creating a vicious loop.

Finding #7
Problem gamblers fit a troubling profile. Addiction is more likely to affect men, minorities, and those with preexisting health conditions, and the rise of mobile gaming is making it easier for these people to fall into self-destructive patterns.

Prior to internet gambling, many of these vulnerable individuals weren’t affected so long as they didn’t live near a casino; however, the rise of mobile gaming has led to a corresponding rise in problem gambling among these demographics.

Finding #8
The solution to problem gambling may lie in setting limits. If casinos would enforce — and gamblers would adhere to — limits on how much can be wagered or how long sessions can last, problem gambling could be severely curbed.

 

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Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal

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Bragg Gaming Group, a leading global B2B iGaming content and technology provider, announced it has entered into a new financing agreement with the Bank of Montreal (BMO), a leading North American financial institution, pursuant to which BMO has made available to the Company certain credit facilities in a maximum aggregate amount of up to US$6.0 million to support its ongoing working capital and general corporate requirements (the BMO Facilities).

In connection with the closing of the BMO Facilities, Bragg has successfully repaid in full the outstanding promissory note with entities controlled by Doug Fallon (the Prior Note Indebtedness). The new BMO Facilities replace the Prior Note Indebtedness, signalling a significant step in the Company’s financial strategy to partner with a major commercial bank to support its growth.

“We are very pleased to establish this new relationship with the Bank of Montreal, a recognized leader in financial services. This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan. The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO,” said Robbie Bressler, CFO of Bragg Gaming Group.

The BMO Facilities are secured by, amongst other things, a first-ranking security interest over all of the assets of the Company and certain of its key operating subsidiaries, and are uncommitted and are repayable upon the earlier of (i) demand by BMO, (ii) the occurrence of certain insolvency events, and (iii) on the one-year anniversary of the closing date, unless a one-year extension is granted at BMO’s discretion.

The agreement includes customary legal and financial covenants, including a requirement for the Company to maintain a Total Funded Debt to EBITDA ratio not exceeding 2.50:1.00, and a Fixed Charge Coverage Ratio of not less than 1.25:1.00. These financial covenants are to be tested on a consolidated basis at the end of each fiscal quarter.

The Company currently expects to draw on the BMO Facilities in Canadian dollars, which would result in estimated borrowing costs of 6.9%–7.9% for Prime-based loans or 5.9%–6.9% for CORRA-based loans, depending on the period of the draw and the Company’s leverage ratio. Standby fees on the unused portion of the revolving facility will range from 0.75% to 1.75% per annum, depending on leverage.

Management believes that based on the terms of the BMO Facilities, the Company’s borrowing costs on an annualized basis will be less than half of its Prior Note Debt.

Matevž Mazij, CEO of Bragg Gaming Group, said: “Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders. With our cybersecurity incident contained and our borrowing costs cut by more than half, we are laser-focused on executing our strategic shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation. We’ve already realized EUR 2 million in annualized synergies and are on track to achieve our 20% Adjusted EBITDA margin target for the second half of 2025.

“Our recent leadership additions in AI and innovation, combined with our expanding partnerships with operators like Fanatics and Hard Rock Digital, position us to pursue highly accretive growth opportunities methodically. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth.

“We understand the importance of delivering results for our shareholders, and our board and management team are fully aligned and committed to executing the strategic initiatives that will drive value. With improved financial flexibility, a strengthened operational foundation, and clear milestones ahead, we believe we have the right strategy and team in place to unlock Bragg’s full potential. We remain committed to maximizing shareholder value as we build sustainable, profitable growth and ensure our strong operational performance translates into appropriate market valuation.”

Cyber Breach Update

The Company has also provided an update on its previously announced cybersecurity incident initially detected on August 16, 2025.

Immediately following detection, Bragg took appropriate steps to mitigate any potential impact of the breach. With the assistance of independent cybersecurity experts, the Company has followed industry best practices and considers that the incident is now resolved.

There continues to be no indication that any personal information was affected and the breach has had no impact on the ability of the Company to continue its operations. Bragg has also provided assurances to its customers regarding the security of its game titles. The Company has experienced no negative impact on its revenue or profitability and does not expect that the cost of responding to the incident will have a material financial impact on the Company.

The Company has already applied knowledge gathered from the investigation of the event to enhance its cyber security defenses.

The post Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal appeared first on European Gaming Industry News.

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Betty

Thunderkick commits to growth in Ontario with Betty partnership

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Independent slots studio Thunderkick has agreed a deal with Ontario-based operator Betty to supply the rapidly growing online casino with a diverse collection of globally popular titles.

Betty, an official partner of sporting franchises Toronto Maple Leafs and Toronto Raptors, has risen to prominence since its 2022 establishment, when it was built following the consultation of 300 casino players to create the optimal iGaming environment.

Distinguishing itself from North American competitors by catering specifically to slot enthusiasts rather than sports bettors, the operator has curated a portfolio of 2,800 games, hand-picked to deliver customers maximum entertainment value.

Thunderkick’s content is the latest to be integrated into Betty’s online casino, and the agreement will see a selection of its most popular titles, including The Wildos 2, Midas Golden Touch 3, and Esqueleto Explosivo 3, made available to a greater number of Ontarian players.

Thunderkick marked its debut in the Canadian province in Q2 of 2024, and has since partnered with a network of leading operators to improve its market position. The collaboration with Betty will further amplify its visibility in a key jurisdiction as the provider looks to reinforce its reputation as a global slot developer.

Svante Sahlström, CCO at Thunderkick, said: “It’s our mission at Thunderkick to go deeper, not wider, in 2025. That means forging meaningful, lasting relationships in target markets as opposed to securing as many commercial deals as possible.

“Since entering Ontario over 12 months ago, we have worked tirelessly to enhance our presence in the province, and working with leading brands such as Betty allows us to bring our unique games to a deeper pool of Canadian players.”

Paraskeva Smirnova, Casino Operations Manager at Betty, added: “Betty’s USP has always been our drive to build a slot portfolio with the very best titles from the industry’s most creative suppliers.

“Thunderkick’s passion for slot development is there for all to see, and the introduction of its games to our casino further elevates the consumer experience.”

The post Thunderkick commits to growth in Ontario with Betty partnership appeared first on Gaming and Gambling Industry in the Americas.

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BCLC

Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026

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BCLC is pleased to announce the return of the New Horizons in Safer Gambling Conference, taking place November 2–4, 2026, at the JW Marriott Parq Vancouver.

This global event brings leading voices in research, policy and industry together to explore innovative approaches to safer gambling. Attendees can expect two days of forward-thinking dialogue, evidence-based insights and collaborative solutions to help shape the future of player health.

Sponsorship Opportunities Now Available

New to the 2026 conference, BCLC is excited to offer sponsorship opportunities to organizations that share BCLC’s passion for safer gambling. Benefits of sponsoring New Horizons 2026 include industry visibility, leadership recognition and meaningful engagement with a global audience. To learn more about sponsorship, please e-mail [email protected].

Registration and program details will be released later this fall.

The post Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026 appeared first on Gaming and Gambling Industry in the Americas.

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