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UKGC Set to Make Online Gambling Industry More Risk-Free

Personal_Finance / Gambling May 31, 2018 - 03:30 PM GMT

By: Varun_Kumar

Personal_Finance

Online Gambling has become an integral feature of the gambling industry. With its rapid growth, the UK gambling Commission aims at making it a safer venue than before. UKGC is the principle regulatory body in the UK. And post its studies on analysing trends and threat factors, it published a “review of online gambling.” The review proposed changes to ensure that local gambling customers are safeguarded from the different threats factors at casinos.


The facts according to UKGC’s reports

The Gambling Commission of UK revealed statistics indicating that the profits made by the online gambling industry increased by 10% to touch a £4.7 billion figure in 2017. Moreover, the number of people who participated in gambling online also showed an incline by 3% over a period of three years; i.e. it increased from 15.5% in 2014 to 18.3% in 2017. As revealed by the UKGC, almost 9 million people engaged in online betting spending time at top bingo sites, playing slots and a variety of casino games.

With the efforts towards sustaining and protecting the interests of gambling enthusiasts, the CEO of UK Gambling Commission indicated that the organization was scouting ways to enhance the industry’s efficiency. Their main aim is to ensure fair and safe gambling.

The proposed change for action on gambling regulations

The authorities at the Commission said that the changes were primarily aimed at protecting minors. They aim to minimise all dangers to safeguard vulnerable players who are likely to fall prey to the manipulative rogue operators in the industry. Amendments to the existing regulations are likely to initiate intervention and benefit at the following levels:

  • Ensure enhanced regulation of the digital gambling market.
  • Protect children by suspending casino operators who allow free play and demo games without determining and confirming a customer’s age.
  • Check and improve the efficiency and speed at which the operator completes age verification.
  • Set “affordability checks” for customers to limit their spending.
  • Improve customer interaction mechanisms to address complaints.
  • Evaluate new advertising standards so that gambling is not promoted or advertised as a means of making money. The focus is on the relevance of identifying and restricting compulsive gambling behaviour that comes through advertising campaigns.
  • Review the features of the gambling products to check and restrict any characteristic associated with gambling-related dangers.
  • The Commission seeks to review its requirements associated with protecting customer funds and check the prevalent protection measures.
  • Check whether gambling should be allowed on credit in the UK.
  • Review and ensure fair and easy money withdrawal methods for customers from casinos.

Play securely at a well-rated and regulated casino

Popular UK casino online destinations like Red Spins and top bingo sites are spread across the UK. These licensed and regulated gambling sites offer a wide range of games and slots. These are based on various themes from the leading software studios to provide optimum entertainment to gambling enthusiasts. It’s advisable for players to visit casino sites that are completely licensed and transparent in their operations. They should also offer prompt customer service to attend to any issues or complaints raised by the players.

By Varun Kumar

© 2018 Copyright Varun Kumar- All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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