What the new UKGC gambling regulations mean for licensed operators

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The year 2017 proved to be a difficult feat to overcome for all UK licensed online gambling operators. This was due to the fact that many of them had to face massive fines.

And after a thorough deliberation from the UK Gambling Commission (UKGC), the country’s local regulatory authority, many of these companies got their licenses devoid.

In an attempt to make all casino and/or online gambling operations better, the said regulatory body is expected to implement stricter ID verification standards. The announcement was made via its official website and highlighted the importance of implementing new rules.

The New Standards In a Nutshell

Basically, the new rules are designed to verify the identity of gamblers engaged in online betting or gambling. These newly-crafted regulations were developed following a public consultation and will become official starting May 7.

Through the new regulation set by the UKGC, gambling operators will be forced to verify the identity of their customers before they are permitted to perform deposits and/or bets. And yes, this will be expected to cover even those who make use of free bets and bonus funds. The existing rule, which is going to be replaced by the new one, was all about giving these operators at least 72 hours to complete age verification. At the same time, it gave gamblers the ability to place bets and/or make deposits during the said time frame.

On the surface, it seems safe to say that the change makes sense. After all, many anti-gambling campaigners have alluded to the fact that a stricter ID verification process should help problem gamblers. However, it does not change the fact that some are concern about the regulatory body’s next directive. For instance, the move to verify every player’s age before accessing an online gambling’s product is extended even to games deemed free to play.

Apparently, there is a new element being introduced to this newly-crafted regulation set. Basically, it is going to introduce a requirement that all gambling operators disclose in advance certain identification documents. The latter refers to paperwork that should be sent prior to processing withdrawals.

A Deeper Look

Every now and then, the government looks to propose a newer set of rules and/or regulations. And when one has to take it simple face value, these could appear harmless and even beneficial. But as soon as these new rules tend to bring a labyrinth that people start having second thoughts on them. While it is still new, there is a possibility that the same narrative can be applied to the new regulations proposed by the UKGC.

According to official reports, the purpose of the new regulations is to introduce protection to at-risk segments of the industry. Particularly, it is aimed at problem gamers and underage individuals, most of which are being taken advantage of or just having sinister issues with gambling overall.

Neil McArthur, the Chief Executive of the regulatory body, discussed the many reasons behind the new regulations. He suggested that through these changes, children and those vulnerable from harm brought by gambling will be protected. Even more so, it can significantly reduce the possibility of crimes related to gambling. On the other hand, gambling can be much fairer, especially since people can start collecting their winnings without the burden of facing delays whatsoever.

UKGC further explained that the implementation of stricter age verification prior to placing bets will help in preventing problem gamblers from accessing gambling services.

For starters, the goal is achieved by having a list (maintained by each gambling entities) of excluded individuals. In addition, there is the existence of a process of thorough regulatory exclusion throughout the country.