CMA Forces Gaming Providers To Remove Unfair Withdrawal Restrictions
Jumpman Gaming and Progress Play recently agreed to change their terms and conditions that prevented players from cashing out their money all at once. The Competition and Markets Authority (CMA) conducted investigations into the £4.9 billion gaming sector and they have discovered that several online betting companies’ terms and conditions were unfair and exploited their players.
This practice was deemed unfair as it led to some players gambling again with funds that would have originally been withdrawn. The two companies have agreed to scrap this practice and make payments on time.
Another issue that has been rectified is the two companies’ unfair practices in which their terms and conditions allowed them to confiscate players’ funds if they didn’t log into their accounts for a period of time. Progress Play has also agreed to stop the practice of confiscating funds from players who do not complete their identity checks within a certain amount of time.
While operators must perform identity checks in order to prevent fraud and money laundering, there is absolutely no justification for appropriating a player’s money just because they fail to verify themselves within a specified amount of time.
CMA Working To Improve Unfair Terms And Conditions
CMA has been collaborating with the UK Gambling Commission to make sure that the terms and conditions that apply to players are fair and that they abide by consumer protection laws. The Gambling Commission fully supports the rulings that forced Jumpman Gaming and Progress Play to change their terms and conditions and they expect that operators in the industry meet the same standards. Operators that don’t institute the required changes to their terms and conditions can be subject to regulatory action.
George Lusty who is the Senior Director of Consumer Protection at the CMA stated that people who gamble online should be able to withdraw all of their funds at any time. Lusty also pointed out that while Jumpman Gaming and Progress Play had agreed to change their terms and conditions to comply with regulations, the CMA expects all gaming companies to follow the same process.
In a statement, Paul Hope, Executive Director, Gambling Commission said
Gambling firms should not be placing unreasonable restrictions on when and how consumers can take money out of their accounts