The UK Gambling Commission (UKGC) has decided to shed more light on the matters of eSports, virtual currencies and social gaming by publishing a special discussion paper today. The country’s regulatory body is revealing its considerations on the matters that could turn out to be a great risk to both regulation and player protection.
Interested parties are given a deadline until September 30th in order to post a response of the paper. The regulatory watchdog also revealed that it intends to be considering “suitable opportunities” for direct engagement before a position paper to be issued as expected until the end of 2016.
The Gambling Commission’s General Counsel Neil McArthur commented on the watchdog’s decision to publish the discussion paper, saying that the regulator’s major concern is to make sure that gambling industry’s consumers are well-protected. According to Mr. McArthur’s statement, gambling could have negative impact on more vulnerable people and children, too, so it is very important for the regulatory body to prevent eventual harmful consequences for them.
The UKGC explained that the discussion paper in question has especially been prepared as a response to three major issues. The first issue that raised some concerns was associated with the blurred lines between gambling and social gaming products. Another issue that has been taken into account when launching the discussion paper was related to digital currencies and their expansion that usually results in various social gaming products offering some facilities for the UKGC.
The third issue that got response by the Commission publishing the discussion paper, was associated with eSports, and more specifically with the shrinking market on the account of the constant growth of the gambling market in the country.
Mr. McArthur also shared the regulatory concern on matters such as virtual and digital currencies and “in-game” items. He reminded how important it is for everyone to understand that all gaming facilities need to be licensed, saying that all casino, betting and gaming operators on the territory of the UK are required to hold an operating license in order to offer such facilities, including digital currencies, to players.
The Commission’s General Counsel also said that the regulator expects from eSports to manage the eventual risks, especially when taking into account that the popularity of eSports is constantly increasing among under-aged consumers. McArthur also shared that the Commission’s position has not been greatly altered since the social gaming paper got published in January 2015.
- Author
Daniel Williams
