The regulator of the UK gambling sector is set to roll out a consultation on proposed affordability checks for the industry.
The UK Gambling Commission (UKGC) revealed that the consultation on one of the hottest and most controversial topics associated with the local gambling sector will cover 3 areas that have been considered a priority – financial vulnerability, significant unaffordable losses on gambling, and binge gambling customers are actually unable to afford – as well as the proposed thresholds for action for each one of them.
The industry watchdog made the announcement after it finally responded to a previously released consultation on remote customer interaction that ended in February 2021. As Casino Guardian reported, the UKGC unveiled stricter rules for online gambling businesses to make sure operators will take the necessary action to protect customers in the best way possible. The tougher and more prescriptive rules are set to come into force on September 12th, 2022. They will require online gambling companies to monitor their customers more closely and take quick action whenever there are indications of gambling-related harm.
The Gambling Commission has further revealed that its previous consultation received a record response by gathering over 13,000 replies. The consultation had included a proposal that would see the monthly net gaming losses of Brits be limited to £100, which basically means that everyone who wants to continue to gamble after losing £100 would have to provide proof of their source of income.
The UK gambling regulator shared that it would take the responses to proposed affordability checks into consideration as part of its original consultation.
British Racing Sector Executives Fear Stricter Rules May Scare Gamblers Off to Unregulated Black Market
Some of the top executives in the British racing sector have, however, warned that the implementation of more intrusive affordability checks could seriously affect the revenues generated by the sport, costing it over £100 million on an annual basis.
The UKGC said it would join forces with the Information Commissioner’s Office and the financial sector on its consultation regarding so-called affordability checks. It would also work in collaboration with the UK Government, which is expected to soon roll out the white paper of its gambling review, with affordability checks rumoured to be among the proposals. The watchdog has not set a date for the launch of its consultation, because it is willing to take the results of the Government’s review into account. The white paper on the authorities’ gambling review is expected to be officially published in May 2022.
The trade body of the local gambling industry – the Betting and Gaming Council (BGC) – shared it strongly supported the gambling review as a unique opportunity to raise standards in the sector. However, the organisation representing the licensed gambling operators in the country noted that enhanced spending checks should be used by companies online, to identify people showing signs of gambling addiction and to help them focus on people at risk of being affected by gambling-related harm. A spokesperson for the BGC also noted that it is important for the authorities to make sure that stricter rules did not interfere with people’s personal freedoms, especially when it comes to responsible gamblers.
Betting and Gaming Council’s officials believe that the Government should make sure that the implementation of stricter measures does not scare off gamblers from the country’s regulated market and push them towards the unregulated online black market.
- Author
Daniel Williams
