UKGC Commits To Making Gambling Safer During This Time Of Crisis
The UK Gambling Commission (UKGC) recently released its plans for 2020 to 2021 and confirms that it will be focusing on making the gambling market much safer this year. The regulator is particularly concerned about online gambling, especially at a time like this when the UK is in lockdown mode.
The UK gambling industry has been under fire for some time now. Critics point out that the online gambling industry is out of control and needs to be reined in. This is why the UKGC has put forth five objectives it will focus on in the next 18 months or so.
First, it will increase customer protections and harm gambling prevention measures. Next, it plans to improve its regulation of the industry. It also plans to change the current gambling industry standards. Finally, the UKGC is thinking of an overhaul in how lotteries distribute money.
Neil McArthur, Chief Executive of the Gambling Commission admitted that the COVID-19 pandemic lockdown has forced millions of Brits to stay indoors. They are turning to online casinos to past their time and it is the duty of iGaming operators to ensure that they protect all customers and comply with gaming regulations at all times.
McArthur points out that the UK gambling industry will see the gambling watchdog taking a strict approach from now on if the amount of gambling-related harm is not reduced. The UKGC will not hesitate to act against violators and warned that operators might end up losing their licenses if they breach regulations.
The UKGC has made vast strides since 2018. The regulator has already implemented tighter rules for age and ID verification and aimed to increase customer protections. The recent banning of credit cards for gambling was the commission’s work and it is not through. McArthur says that the regulator will now be looking into VIP incentives and online gambling.
Another thing that the UKGC is concerned about is customer standards. According to surveys, consumers now only trust operators 30 percent of the time. That is a pretty bad rating and a warning to gambling operators. The UKGC plans to tackle this problem so that customers will be able to wager without any fear.
The commission also plans to increase fees for licensing and hopes to make this happen by the second quarter of 2020. The UKGC is thinking of implementing improvements to the licensing process, which will come into effect by the end of the year.