The UK Gambling Commission (UKGC) has notified stakeholders of its plans to hold seven new consultations as part of the continued regulatory review of recommendations put forward by the Gambling Review’s White Paper.
As detailed by Tim Miller, the Executive Director on Policy Development for the Gambling Commission, the consultations will address the topics of “socially responsible incentives, customer-led tools, transparency of customer fund protection, annual financial contributions to research, prevention, and treatment, regulatory data reporting, financial penalties, and financial key event reporting”.
Lasting for a period of 12 weeks, they are expected to close around February-March 2024. The UKGC upholds the aim to implement the Government’s Gambling Act Review recommendations and address regulatory aspects to prepare for future challenges.
Since publishing the Gambling Review’s White Paper on 27 April [Year], the Commission has undertaken four consultations related to age verification, remote games design, financial risk assessments, and marketing and cross-selling.
The forthcoming consultations will review proposals relating to incentives such as free bets and bonuses, to ensure they do not encourage harmful or excessive gambling.
The use of customer-led tools will be examined to empower consumers and make it easier for them to manage their gambling in ways that work for them, such as deposit limits.
Current Licence Conditions and Codes of Practice (LCCP) duties will be reviewed to increase transparency regarding the protection of customer funds, especially in cases where licensees offer no insolvency protection.
In anticipation of a future statutory levy, the Commission will consider removing the obligation to contribute to specific research, prevention, and treatment bodies.
It will also explore changes to the way financial penalties are calculated, aiming for more clarity and transparency on infringements. These changes include setting penalties at levels where the cost of non-compliance is higher than compliance costs.
Feedback is further required on ‘financial key event reporting’ regarding how LCCPs can provide detailed financial information, enhancing the Commission’s risk-based regulatory approach in response to the sector’s increasing complexity and globalisation.
In conclusion, the Commission continues to support the government and DCMS in implementing the Gambling Act Review, focusing on stake limits for online slots, land-based measures, and the introduction of a statutory levy.
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide.
With a career spanning over a decade, John has honed his expertise in various aspects of gambling, from strategic gameplay to industry trends and regulatory developments. His articles are revered for their blend of comprehensive research, astute observations, and a knack for demystifying complex concepts for both novice and seasoned players.
Beyond his writing prowess, John has established himself as a trusted authority, often sought after for his expert commentary on the ever-evolving landscape of the casino and betting industry. His passion for responsible gambling and commitment to ensuring players make informed choices are evident in his work, making him a beacon of integrity in an industry that demands such values.
Whether you’re a casual gambler or a dedicated enthusiast, John Sommers’ contributions to TwinCasinos promise to be an invaluable resource for navigating the dynamic world of gambling.
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Author: John Sommers
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide. With a career spanning over a decade, John has honed his expertise in various aspects of gambling, from strategic gameplay to industry trends and regulatory developments. His articles are revered for their blend of comprehensive research, astute observations, and a knack for demystifying complex concepts for both novice and seasoned players. Beyond his writing prowess, John has established himself as a trusted authority, often sought after for his expert commentary on the ever-evolving landscape of the casino and betting industry. His passion for responsible gambling and commitment to ensuring players make informed choices are evident in his work, making him a beacon of integrity in an industry that demands such values. Whether you’re a casual gambler or a dedicated enthusiast, John Sommers’ contributions to TwinCasinos promise to be an invaluable resource for navigating the dynamic world of gambling.
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