The Competition and Markets Authority (CMA) is set to start an inquiry related to bookmaker terms and conditions. As a result of the inquiry, the regulatory watchdog is expected to examine a number of areas, including special promotions launches, customers’ problems while withdrawing their winnings and account restrictions.
The Competition and Markets Authority has shared that online gambling operators may be breaking the law if they put some obstacles for players to cash out their winnings from their accounts. The investigation that is to be launched would come to make sure that all customers are being treated fairly as equals.
In 2016, the expectations of such an investigation to be initiated by the regulatory authorities in the UK have increased. The close scrutiny will come to thoroughly check the terms and conditions that the online gambling companies use in regard to their customers.
Over the last few years, the online gambling operations have rapidly expanded on the territory of the UK. Up to date, 5.5 million citizens of the country bet on gambling and betting websites on a regular basis. This not only provoked the concerns of the regulatory authorities in the country, but also appeared to have created some problems, as many people now find it difficult to get their winnings paid out.
Usually, the online gambling operators use a great variety of generous welcome bonuses and promotions in order to attract new customers. Free bets are also regularly used by companies when it comes to reached new users. However, customers often complain about meeting certain difficulties when it comes to withdrawing their winnings. On the other hand, some games suddenly turn out to be disqualified by a certain promotion or require the customers to invest large amounts of money in order to become eligible for the promotion.
The Competition and Markets Authority also shared its concern that consumers find it hard to make the betting website make any decisions on a case. In addition, customers are also given too short of a time in order to file their complaints to the gambling operators. Another problem that is commonly faced by customers is the fact that under the current terms and conditions, betting operators are given the chance to change the odds whenever they decide to, without customers’ knowledge.
The Competition and Markets Authority has not been the only regulatory body that has expressed its concern over these matters. The Gambling Commission has long been involved in gambling issues scrutiny over casino, gambling and betting operators due to their potentially unfair terms and conditions and misleading practices. The cooperation between the CMA and the UKGC comes after the latter has earlier this year called for placing the consumer interest in the middle of the gambling industry.
The Remote Gambling Association also backed the CMA and the UK Gambling Commission, saying that it would cooperate with the regulatory authorities to make sure that the necessary improvements would be implemented whenever needed.
- Author
Daniel Williams
