Uk Online Gambling Regulations

The UK Gambling Commission was set up as part of the Gambling Act 2005, which aimed to regulate commercial gambling across Britain in partnership with licensing authorities. The UKGC assumed its full powers in 2007, and is responsible for regulating arcades, betting, bingo, casinos, slot machines and lotteries played in the UK. UK-licensed online gambling operators have been given new marching orders from their regulator regarding how they operate in our current pandemic purgatory. On Tuesday, the UK Gambling Commission.

Online gambling has been grown significantly in recent years.

Given the increased legitimisation by the UK, new casino sites are trying to enter the market and the progressive growth of the industry as a whole, regulations are becoming stricter and more rules are being set.

Although obtaining the relevant licenses for operating can be fairly easy, certain new regulations are liable to be difficult to afford and abide by in 2018.

How will the new regulations be imposed?

New casinos will find it easy to adapt to some of the new regulations. However, reports from online players who’ve faced problems have led to more governments taking a stand to deal with casinos that are known to take unfair advantage of their customers. Certain rules have been implemented in some states, which allow casinos to advertise promotional limits that would attract fewer players. Also, depending on the operational jurisdiction, new online casinos would have to limit their player bonuses.

Limits on deposit methods

It’s essential to note that governments around the world would have more on their hands than the regulation of new casinos. Certain actions could be put in place that will have a huge impact on players. For example, there are more than a few criminal players who make use of casinos as a front for laundering ‘dirty’ money. Therefore, deposit and withdrawal processes have been made stricter than before by regulatory bodies. Authorities would also cut down on the available payment methods, so as to discourage the chances of money laundering occurring.

Strict deposit and withdrawal limits

While online players have the liberty to deposit as much as they like into their casino accounts, the amount of money which they would be able to play with – and the amount which they could win – would be limited as a result of the regulations which are meant to control the activities of ‘bad casinos’. This would have a huge impact on players, as well as operators.

Fewer games and market options

Online casinos offer hundreds of thousands of gaming options, especially for new players. However, the available markets and number of games would soon be limited by regulations meant to control the prevalence of ‘rigged gaming software’. Governments are also trying to put an end to the negative reviews for most online casinos, as the industry has been gaining a bad reputation as a result of certain casinos attempting to scam gamers.

Turboluck has been compiling positive reviews about online casinos, as more and more people from across the globe are joining the industry, thus leading to increased value addition. The online casino market will therefore undoubtedly thrive in 2018, although there’ll likely be more than a few obstacles to negotiate. New casinos will have a hard time obtaining most of the relevant licenses needed to maintain smooth operations. To ensure their business transactions are completely legal, they will need to abide by the strict rules implemented by governments.

Although players might suffer unfavourable experiences as a result of these regulations, they should understand that they are only in place to defend their welfare and ensure a better and safer gaming environment for everyone. These regulations are also meant to encourage genuine online casinos and give them confidence by providing a level playing ground within the industry.

By far the biggest change to the gambling scene in the UK, and indeed the World, has been triggered by the internet and the growth of online UK bookmaker. It’s easier to place a bet now than ever before but that also leaves the need for tighter regulations across the board.

Gambling regulations have existed since the practise was first made legal in Great Britain but as times have changed, the rules have intensified to keep in line with the developments of the digital age.

Governing Body

In 2016, the Gambling Commission oversees the vast majority of gambling in this country and its responsibilities take in online bookies, casinos and the National Lottery amongst other things. It was originally set up in 2005 but two years later, in 2007, it took over completely from the former entity – the Gambling Board of Great Britain.

The board states a very clear aim as part of its overall mission.

“To keep crime out of gambling, to ensure that gambling is conducted fairly and openly, and to protect children and vulnerable people”

Responsible gambling is a thorny issue for the industry and one that bookmakers have looked to tackle in various degrees. The Gambling Commissions promises to uphold this, even though it has come under criticism in recent times over the growth in Fixed Odds Betting Terminals inside betting shops.

Everyday Work

The Gambling Commission has the power to remove licenses and it has done exactly that in the past. Any breach of regulations is subject to its laws and that is the ultimate punishment for any operator who transgresses.

Full details of those companies who have had sanctions imposed can be found on the body’s website so this is intended to be a transparent operation who you would not want to fall foul of.

Testing Times

Gambling in the UK came back into the news in a big way at the end of 2014 with a set of regulations that saw many providers close their doors to players in Great Britain. It all centred around taxation and who could legally transact business in this country without having to pay a premium.

Prior to this legislation, which was introduced on December 1st 2014, anyone connected with the gambling industry – bookmakers, casinos etc – could register outside of Great Britain and make transactions in the country without having to pay any tax levy for doing so.

Suddenly, all that was to change with a 15% level of taxation introduced for those companies looking to deal with customers inside of the UK and with millions of pounds at stake, it was clear that many of the familiar names in the industry were going to find things difficult at that new rate of tax.

Many millions of pounds were involved so perhaps it wasn’t a great surprise to see a number of firms including Sbobet and Pinnacle announce that they would no longer accept players from inside the UK.

As 2015 developed, a lot of new entrants to the industry decided that they would not play by the Gambling Commission’s rules and they refused to accept British based customers too. The likes of 5Dimes, Tipico and Betrally have joined the list and it’s illegal to play with them if you have a UK address.

Overall it’s just a smallish part of the industry and players are still left with a certain amount of choice but each of those bookies offers something to a customer. There are bonuses that can no longer be claimed and potential profits lost all because of this new legislation.

As a UK player, there are some third party intermediaries who will offer to act for you but anyone looking to go down this route would clearly have to exercise caution.

Paperwork

Not only did the Gambling Commission require operators to pay that new level of tax, it insisted that they register for a license to provide a platform for the UK betting community. So, even if a company had traded here for many years, they effectively had to reapply to carry on their business.

Compared with a tax rate of 15%, that was a less onerous stipulation but it could still have been looked upon as unnecessary paperwork and something that wouldn’t have won the commission too many friends.

One Year On

Just over a year has passed since the new legislation came into effect and for most UK players it’s pretty much business as usual. A 15% rate of tax will dent your profits but then again, you can still make a profit and there is plenty of money to be had from the British market.

New operators such as RealDealBet have emerged since the new rules to take in UK account holders too so in effect, our choice is actually getting wider and naturally we have our old favourites such as William Hill, Ladbrokes, Coral and many more.

December 2014’s act was the most noteworthy as far as the Gambling Commission is concerned but it’s interesting to keep up with news and developments surrounding the industry. They can occasionally attract controversy but they are working hard to keep us all safe from rogue traders and from those who close down for whatever reason – a thankfully rare occurrence.

Uk Online Gambling License Cost

It’s been an interesting 10 years since their set up so what does the UK Gambling Commission have in store for us next?