Major changes have been implemented in the UK Gambling Market for 2020
The UK is one of the most important countries in the gambling industry. The industry is full of challenges. The officials and the representatives of the industry have been trying for a long time to properly regulate the market.
Thus, certain changes have been implemented recently, in order to make the gambling market more customer friendly and gambling to be more responsible all over the country.
The first major change that has been implemented to the country’s gambling industry was back in 2005, when The Gambling Act 2005, was introduced by the UK legislation authority. The act was aimed to sophisticate the gambling environment in the country and to regulate underaged and illegal gambling.
The Act began with the introduction of the Fixed-odds Betting Terminal or FOBT, which was already a big progress back then. These changes have been implemented almost immediately and were favored by most of the UK’s citizens. After 15 years, the time has come for the new changes and the new challenges in the market, which shall make the gambling market in the UK safer and more reliable.
One of the major reasons why the changes were introduced is that the UK’s gambling market is one of the most desired and one of the demanded markets in the world. Thus, many gambling and betting operators have been operating and it is sometimes very hard to choose the right one. Though, the wide range of the operators also gives the customers opportunity to find the most suitable one for them.
Many amendments have already been taken in place and among those amendments were the ones to restrict betting on more than 2 GBP, in order to prevent the gambling addiction. Also, among the changes were the demands for restricting the VIP programs and gambling advertisements.
New changes face new challenges
The changes that have been implemented, might have a negative effect on the user’s experience, due to the extreme rush and quick amendment. Thus, this might be another opportunity for the users to address the unwanted operators from offshores and they might be tempted to sign up for something the UK Commission does not approve of. In order to avoid all of this, the changes are all involved in the bonus aggregating services, which are clearly defined in the terms and conditions in an appliance to the law.
The government of the UK has acknowledged that the legal and regulatory problems might arise with the fast expansion of the online gambling industry. The Gambling Act 2005 was aiming at ceasing that problem primarily. Though, with the rapid changes and development of many industries including gambling, the Act was no more efficient.
For the purpose of improving the Act and creating a better and more efficient atmosphere, the UK Commission came up with the idea of creating the new UK Gambling Commission, UKGC, which is now responsible for ensuring that casino operators all over the country respect and obey the existing laws and regulations.
The officials of the Gambling Commission have spoken up about the new challenges and changes, stating that the changes were inevitable and highly significant for the further improvement of the industry as well as for a healthy gambling environment. Especially now, that the betting and gambling industries both need way more control after the pandemic, the commission has to be especially attentive and objective.
Tackling the underaged problems
According to the reports and additional research, about 450,000 children from 11 to 16 years have been gambling in the UK on a daily basis. This is an extremely high number and a clear example of breaching the existing laws, which is unacceptable.
Thus, the new amendments have been set in place, which is aiming to tackle the existing problem of child gambling. Within the new regulations, the online casinos have to check the age and the identity of the players manually. This should happen via the provision of an identity verification document, which then will be checked by the compliance team.
The online casinos will also be in charge of checking the payments. The compliance committee is in charge of verifying the status of the player as well as the match of the identity of the player and the credit card owner. This is the perfect solution for the existing problem, which should be efficient enough to significantly cut off the number of child gamblers.
No more credit cards
The Gambling Commission has now banned the usage of credit cards as the means of the online casino payment method. The usage of credit cards was limited previously, though according to the new law, the credit cards are banned in the whole country. According to the bank reports, many users have big debts due to problem gambling. Also, many banks issued statements, with classifying 22% of the players as problem gamblers.
From now on, credit card payment for online gambling or betting purposes is officially illegal. The only way to pay via card while gambling is by using a debit card. The players who have registered their credit cards should add other payment methods, and the ones using PayPal or any e-wallets should go through the identification verification procedure.
All is yet to come
While most of the problems have been tackled by the new regulations and laws, there are still some issues that need to be controlled or at least observed. With the rapid development of technologies it is very hard to keep up with them and to prevent harm from every single side. Though, the UK Gambling Commission has announced that some more changes and regulations will soon be introduced in the face of the new Gambling Act, which will be based and targeting “new-era technologies”. According to the UKGC, the new Gambling Act should be able to cover every single aspect of the gambling industry, and thus make the gambling environment in the country more secure and gambling responsible for players.