The UK Gambling Commission (UKGC) has been coming up with stricter gambling regulations over the last few years. In 2020, the regulator banned the use of credit cards and e-wallets that can be funded by the same cards for any gambling activities.
It has been a successful implementation according to the Commission after using a survey from Yonder on certain groups of people. It wasn’t an easy change and there were still locals who were able to transact with credit cards despite the implementation of the ban in the first few weeks, but the UKGC said that there were quickly resolved.
Eventually, players who frequent online casinos listed on sites like https://trustedbookmaker.com just went on with it. After all, the UKGC licensed operators that are the only ones allowed to operate in the country had no choice but to remove this payment option too.
The Yonder survey that the UKGC used to check the efficacy of their move was answered by around 2000 adults and focus group meetings with 30 respondents. Based on this survey, around 76% of people who gambled with credit cards before no longer use the same option.
The UKGC explained, “A major high street bank has informed us that they observed the volume and value of gambling transactions with credit cards to the gambling merchant code, MCC7995, reduce to a very low level after the ban.”
The UKGC is At It Again
Despite that success, the UKGC continues to find ways to lessen the risks of gambling activities in the country. Recently, the UKGC has updated its list of rules on high-risk gamblers, but this will be officially introduced on September 12.
The Commission wants to increase the focus on “at-risk customers.” Based on the recently updated list of rules, the operators should identify vulnerable customers. They should be able to monitor how people spend on gambling and identify indicators of harm.
However, it’s still unclear what would help operators determine which customers are at risk, but this is likely going to include personal factors like age, health, financial capabilities and difficulties, and demographic.
The UKGC recommends that the operators increase customer interactions based on open-source data that is more than just setting a deposit limit or taking a look at the loss thresholds. The Commission also believes that the current customer protection practices are often inadequate and this is why harmful gambling interactions still take place.
According to them, the operators are still too slow when it comes to identifying customers who are spending more money than they can afford. There are still many cases where people would touch funds intended to pay for basic needs including rent and other bills.
With these new recommendations, operators will be compelled to record gambling rates based on all the gambling activities they offer. They should be able to track these metrics every month and once an “at-risk customer is identified, it will be necessary to lessen the perks that this customer can get like bonuses that can be added to their account.
The UKGC Will Continue to Set a High Standard on Regulating Gambling Activities
More info about these new rules will likely be revealed before it will be formally introduced in September. The CEO of the Gambling Commission also emphasized that they will continue to ramp up enforcement efforts that all operators should strictly follow.
CEO Andrew Rhodes spoke about their efforts at the Media Forum Gambling Regulation Conference earlier this month and said, “We will not be complacent and will set out the standards we expect. We will escalate the penalties for failings if we don’t see the industry start to consistently live up to our standards.”
He also went on about how operators who aren’t compliant are letting down the consumers. Rhodes continued, “Operators who aren’t compliant are not just letting their customers down or their businesses. They are letting down the entire sector, which should be frustrating for operators as much as it is for us.”
Rhodes said that they aren’t just focused on the negatives as they also look at the improvements of these operators.
He said, “We do also see good practice and improvements being adopted by some operators, but that will be for nothing if those operators who are making the changes we are expecting continue to be drowned out by poor practice elsewhere.
“…We will continue to be vigilant for poor practice and failings. We are looking to consult on how to further strengthen our enforcement work. Already, where we see big issues or are concerned about failings, I am seeing operators myself to make clear our concerns. Where those concerns are not dealt with, we are taking action.”
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