UKGC Announce Topics for Second Consultation on Gambling White Paper
The United Kingdom gaming regulator the Gambling Commission (UKGC), has announced it is to undertake the second round of consultation of the government's White Paper on proposed changes to the gambling structure in the country.
The UKGC had listed the areas it wishes to change in the gambling framework within the UK and outlined these proposals in the initial consultation process with all stakeholders in the gambling industry. The first consultation period has now ended, and the UKGC is set to start the second consultation phase of its White Paper.
There are 7 gambling topics highlighted by the UKGC for the second consultation period in the White Paper process. These include socially responsible gaming measures to protect players, as well as five measures that focus on the gaming operators and regulations of their finances.
Our forthcoming consultations will continue to fulfill our aim to progress White Paper recommendations at pace but also address other aspects of our regulation to make us fit for the future. We are rightly putting emphasis on implementing the Government’s Gambling Act Review recommendations. This goes hand in hand with our vital regulatory ‘business as usual’, to keep gambling safe, fair and crime-free.
Socially Responsible Measures and Customer Led Tools
Some of the topics relate to player welfare and creating an environment for responsible gaming. The UKGC has raised the issue of incentives offered by gaming operators, such as bonuses and free bets, and how this can affect players who may be vulnerable to gambling-related harm.
Another topic out for consultation is the tools available to players that can help them manage their gambling behavior, such as setting their deposit limits or, in some cases, the choice of gambling self-exclusion periods.
Financial Reporting of Gaming Operators
Under the terms of the White Paper, the consultation outlines the financial requirements of gaming operators, including transparency of customer funds and their protection.
The regulator wants operators to supply regular reporting of financial accounts and to provide the UKGC with the overall structure of the gaming operator due to many gaming companies changing ownership through mergers or acquisitions.
There is also a plan to introduce a statutory levy on gambling companies, and this money is to be used to fund Research, Prevention, and Treatment for customers who are vulnerable to gambling-related harm.
A Structured Process for Gambling Operator Penalties
One of the proposals put out by the regulators for consultation is to completely change the structure of fines. The UKGC states it is going to increase the size of fines for breaches of legislation, but it hopes to set out a comprehensive guide that gives gaming operators an indication of the level of penalty for certain breaches.
The UK regulator has stated that it wants a more proportionate fines system to be applied to gaming operators that breach gambling rules. They want the financial penalty issued to an operator for breaching gambling legislation to be greater than it would cost the company to ensure compliance.