The UK Gambling Commission (UKGC) has made it clear standards have to improve. Even though the UK is regarded as one of the leaders in terms of regulatory oversight and compliance, the UKGC believes there is room for improvement. In line with this drive to provide consumers with the best overall experience, disciplinary action has become common over the last two years.
Not afraid to tackle infractions head on, the UKGC has handed out significant fines to some of the industry’s biggest brands. For example, in August 2019, Ladbrokes Coral was charged with historic “systematic failings”. As per the UKGC report, the betting and gaming company failed to adequately check the details of some high-value customers. For not acting in a responsible manner, Ladbrokes Coral’s parent company GVC Holdings was ordered to pay a £5.9 million/$7.1 million penalty package.
Transparency Has Improved Online Gambling
Commenting on the issue, GVC confirmed that incidents took place before it agreed to buy Ladbrokes Coral in 2017. However, it assured investors, customers and the UKGC that it would tighten up its player checks to ensure such failings don’t happen again. Naturally, the ideal scenario would be that regulatory failures didn’t occur at all. However, in reality, that’s highly unlikely. In fact, in many ways, it’s undesirable, as change often occurs as the result of a failure.
The UK betting and gaming industry has thrived, in part, because it’s been willing to embrace regulation and rectify mistakes. Today, when you survey what operators and auxiliary sites have to offer, there’s been a clear move towards transparency and responsibility. An obvious example of this willingness to change and comply with regulations involves bonuses. Today, every operator makes the terms and conditions of its promotions clearer than ever. Additionally, review sites have also moved to demystify the nuances of what’s out there.
For example, no deposit bonuses have often been misunderstood by novices. To help, review sites have broken down exactly what these promotions entail. At Slotsia, the no deposit bonus guide explains how players can get credits for free when they create a new account at certain online casinos. However, and this is the important bit, the guide goes into detail on how players have to make a deposit in order to release their no deposit bonus.
Put simply, all casino bonuses have wagering conditions. This means customers have to stake a certain amount of their own money before they can request a withdrawal. No deposit offers are no different and that’s something Slotsia and others have made clear in recent years, although some would argue that it’s a case of ‘buyer beware’ when you bet online. However, that’s not a viewpoint the UKGC accepts. Because it wants customers to be safe and make informed decisions, clarity is crucial and that’s made these types of guide more common in recent years.
UKGC Setting the Standard
Of course, it’s not just the UK that’s looking to make online betting and gaming safer. New Zealand recently launched a public consultation on online gambling. Although there are certain provisions in place, the Department of Internal Affairs (DIA) wants to see where improvements can be made. In fact, this is another reason the UKGC has been tough on regulatory failings. Because of its status, other countries consult the UKGC on how to implement their own gaming laws.
Therefore, it’s fair to say the UK has become a benchmark that all others are trying to match. This is great news for British consumers because it means standards are more likely to remain high. However, beyond that, it’s encouraging that at least one organization is there to guide others and ensure online gaming remains safe, entertaining and lucrative.Follow us on