Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
This Invisible Tech Stock Threatens Amazon with 800,000+ Online Stores - 21st Nov 19
Crude Oil Price Begins To Move Lower - 21st Nov 19
Cracks Spread in the Precious Metals Bullion Banks’ Price Management System - 21st Nov 19
Why Record-High Stock Prices Mean You Should Buy More - 20th Nov 19
This Invisible Company Powers Almost the Entire Finance Industry - 20th Nov 19
Zig-Zagging Gold Is Not Necessarily Bearish Gold - 20th Nov 19
Legal Status of Cannabis Seeds in the UK - 20th Nov 19
The Next Gold Rush Could Be About To Happen Here - 20th Nov 19
China's Grand Plan to Take Over the World - 19th Nov 19
Interest Rates Heading Zero or Negative to Prop Up Debt Bubble - 19th Nov 19
Plethora of Potential Financial Crisis Triggers - 19th Nov 19
Trade News Still Relevant? - 19th Nov 19
Comments on Catena Media Q3 Report 2019 - 19th Nov 19
Venezuela’s Hyperinflation Drags On For A Near Record—36 Months - 18th Nov 19
Intellectual Property as the New Guild System - 18th Nov 19
Gold Mining Stocks Q3’ 2019 Fundamentals - 18th Nov 19
The Best Way To Play The Coming Gold Boom - 18th Nov 19
What ECB’s Tiering Means for Gold - 17th Nov 19
DOJ Asked to Examine New Systemic Risk in Gold & Silver Markets - 17th Nov 19
Dow Jones Stock Market Cycle Update and are we there yet? - 17th Nov 19
When the Crude Oil Price Collapses Below $40 What Happens? PART III - 17th Nov 19
If History Repeats, Gold is Headed to $8,000 - 17th Nov 19
All You Need To Know About Cryptocurrency - 17th Nov 19
What happens To The Global Economy If Oil Collapses Below $40 – Part II - 15th Nov 19
America’s Exceptionalism’s Non-intervention Slide to Conquest, Empire - and Socialism - 15th Nov 19
Five Gold Charts to Contemplate as We Prepare for the New Year - 15th Nov 19
Best Gaming CPU Nov 2019 - Budget, Mid and High End PC System Processors - 15th Nov 19
Lend Money Without A Credit Check — Is That Possible? - 15th Nov 19
Gold and Silver Capitulation Time - 14th Nov 19
The Case for a Silver Price Rally - 14th Nov 19
What Happens To The Global Economy If the Oil Price Collapses Below $40 - 14th Nov 19
7 days of Free FX + Crypto Forecasts -- Join in - 14th Nov 19
How to Use Price Cycles and Profit as a Swing Trader – SPX, Bonds, Gold, Nat Gas - 13th Nov 19
Morrisons Throwing Thousands of Bonus More Points at Big Spend Shoppers - JACKPOT! - 13th Nov 19
What to Do NOW in Case of a Future Banking System Breakdown - 13th Nov 19
Why China is likely to remain the ‘world’s factory’ for some time to come - 13th Nov 19
Gold Price Breaks Down, Waving Good-bye to the 2019 Rally - 12th Nov 19
Fed Can't See the Bubbles Through the Lather - 12th Nov 19
Double 11 Record Sales Signal Strength of Chinese Consumption - 12th Nov 19
Welcome to the Zombie-land Of Oil, Gold and Stocks Investing – Part II - 12th Nov 19
Gold Retest Coming - 12th Nov 19
New Evidence Futures Markets Are Built for Manipulation - 12th Nov 19
Next 5 Year Future Proof Gaming PC Build Spec November 2019 - Ryzen 9 3900x, RTX 2080Ti... - 12th Nov 19

Market Oracle FREE Newsletter

$4 Billion Golden Oppoerunity

GamStop Became Mandatory

Personal_Finance / Gambling Oct 22, 2019 - 12:50 PM GMT

By: Submissions

Personal_Finance

The online gambling industry is one of the successful business ventures in the United Kingdom. All forms of gambling and betting in the region are regulated by the UK Gambling Commission. Although the industry has achieved a lot since it was established back in 2005, it is forced to find solutions to emerging problems. The most recent changes expected in the UK gambling market are aimed at tackling the problem gamblers.


With easy access to online casinos, the number of problem gambling has increased significantly. Although there are different tools and websites that are dedicated to helping solve problem gambling, a better and permanent solution has been tabled to assist punters in exiting gambling for good. Individuals with gambling problems can now block themselves from all UK based online casinos. Find out more about the recent changes in GamStop in our in-depth article.

New Mandatory Rule to Obtain a License

The new gambling rule that has been set up by the UK Gambling Commission makes it mandatory for all gambling platforms to register with GamStop. This is one of the must-have requirements for license holders in the UK. The commission is also working on how to make the system more effective to get around slot sites not covered by Gamstop. The software like GamStop is the best self-exclusion gaming program that is dedicated to protecting problem gamblers. 

However, the implementation of the program has faced several challenges. The BBC revealed the flaws in the system in early January, showing how members could bypass the security system using different names. The problem was addressed, as stated by the GamStop Executive Fiona Palmer. The commission requested the Remote Gambling Association (RGA), which is in charge of the program to ensure that the issue is addressed.

Risk of Losing License Without GamStop

It is no longer a secret that all online casinos and betting sites risk losing their licenses if they don’t sign up on the GamStop website. Although GamStop is already being used by thousands of members, it was noted that the system did not exclude members from receiving promotional emails. 

It has been estimated that about 99% of the gambling companies in the UK are now registered on GamStop. The greatest danger of using unlicensed gambling sites is that you risk losing your money and personal information to hackers and other unauthorized people.

GamStop Flaws

GamStop has a very special role in the gambling industry; however, it has been noticed that the system is not all that perfect. The self-exclusion system is designed to protect vulnerable people with gambling problems. The recent flaw that has been discovered in the system - members can still gamble online.

According to an expose by the BBC Radio 5 show, it was revealed that players can still bet online by simply misspelling their name or using a different email. This allows people to create new accounts and continue betting on any website. One of the gamblers, Adam Bradford, called the system ‘Scandalous’ because he was able to bet on 15 online casinos out of the 20 that he had been blocked.

However, the director and management at GamStop have promised more strict laws, including ID verification, to curb the problem. 

The Association of British Bookmaker (ABB) also commented on the revelation and termed it a big disappointment to the gambling community. Nonetheless, the trade association showed satisfaction in the 83% of gamblers who have been helped by the system.

Conclusion

As we have mentioned, GamStop is one of the best systems that is committed to providing problem gamblers with a lifetime solution. Like other systems, it is not perfect, but plans are underway to ensure that all the flaws that have been spotted are solved. We hope that everything will be put in place to provide permanent solutions to all problems.

By Chad Patterson

© 2019 Copyright Chad Patterson - 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.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules