The UK Gambling Commission are very well known and respected in the UK gambling industry and so their recent publication is one of note. The new business plan for 2019-20 outlines their focus on protecting consumers of online casino content and the regulations that they have.
Here, we are going to look at the new business plan in more detail. Keep reading if you’d like to find out more about the people who regulate the gambling industry in the UK.
Who Are The UKGC?
The UK Gambling Commission are the regulatory body for the UK gambling industry. This government body sets out any sort of regulations when it comes to gambling including online casinos and gambling operators. The UKGC has the power to give out licenses for businesses to operate and they can also fine those who aren’t following their strict regulations.
What Does The Plan State?
The new business plan comes with a lot of guidance on how operators should function as well as the priorities of the UKGC as a whole. In the plan, they UKGC stated their five strategic priorities that include protecting the interests of consumers and raising standards in the gambling market. They also state that they aim to prevent gambling harm to the public and they hope to optimise their turns to good causes from lotteries.
The new business plan from the UKGC also included the fact that they wanted to improve the way in which they regulate the industry. Through making regulations tighter, they can protect consumers from the risks of gambling.
The UK Gambling Commission also plan to continue working in collaboration with the Advertising Standards Authority who are there
to regulate any advertising in the UK. With their help, they can ensure that young and vulnerable people are protected against the harms of gambling.
Other Important Elements
While the new business plan is important, the UKGC have also announced that they plan to launch their National Strategy to Reduce Gambling Harms. This plan aims to keep consumers safer and focus on things such as the use of credit cards when wagering bets. This can lead to further issues related to gambling addictions and so the UKGC wants to try and make changes before it is too late.
What Does This Mean For Operators?
For those operators who are doing things right and following regulations, it seems as though the plan won’t have much impact. For those who ignore the regulations( usually new online casinos ), there could be more serious consequences as time goes on.
Operators will need to make sure that they are doing what they can to help their players avoid developing gambling addictions. With the help of the UKGC, the rate of addiction in the UK should see a drop as time goes on. Operators must take responsibility for what they are doing or else they will face the consequences.
It is clear that the UK Gambling Commission are on a mission to improve the way in which the gambling industry in the UK operates. This industry comes with a lot of risks and the UKGC have been doing a great job since they were initially formed.
We expect there to be a lot of changes with all of these priorities that have been outlined in the new business plan for 2019-2010. Operators will need to ensure that they meet the criteria set out by the UKGC if they want to keep operating under UK law. Make sure to keep an eye on this body to see what sort of changes they have planned.