UKGC Sets New Online Gambling RegulationsMarch 6, 2021 John Isaac
A few days ago the UKGC introduced new regulations intended in order to make gambling safer for minors and people with gambling issues. These new regulations include restricting spin speeds and preventing features that speed up play and celebrate defeats as wins.
Casinos will also be forced to view the player’s cumulative wins and losses as they play games like slots. UKGC believes that authorised online operators should be allowed to make improvements by 31 October of this year.
The UKGC has clarified that there is widespread concern about online slot machine games as these gambling activities contribute for about 70% of the country’s activities related to gambling. Slot machine plays also have the highest total loses per player in comparison with any other casino operation.
Online Slot Machines Make 15% of The Gambling Industry in the UK
According to figures, British citizens will invest more than 2 billion pounds on online slot games on their own. Moreover, it is reported that the UK has 15% of the online slot machine market. In fact, the UKGC has already imposed limits on the adjusted betting terminal.
”Evidence shows that reverse withdrawal functions present a risk to players because of the temptation to continue gambling. Besides, the slot features being removed or more closely controlled have been associated with increased intensity of play, loss of player control or binge play,” – stated the commission.
Although the UKGC only seeks to protect the welfare of its citizens related to gaming, this also has an impact on the gambling industry. Gambling companies in the world are already beginning to explore selling their services to other countries such as India and Australia. In fact, Australia also has limitations with respect to online gaming, but Australians are still able to access 24k Online Casino Australia.
The gambling markets in those two countries have the ability of becoming the next largest gambling industry. As further regulations are being imposed in the United Kingdom, it is becoming increasingly evident that local gaming firms could be beginning to develop a strong market elsewhere.
More about UKGC
The UK Gambling Commission (UKGC) is a public authority of the UK Government in charge of controlling and administering gaming regulations in the region. It is also responsible for issuing gaming licenses and overseeing the National Lottery in the United Kingdom.
This government agency has been around since 2007 and so far, we may say, has been active in controlling the gambling industry. It has placed in place rules and regulations that help ensure that healthy gaming is practiced in the region.
Last year, the UKGC introduced new rules to tighten restrictions in the region. Part of this requires all online casinos to perform a rigorous screening process on all their customers. This ensures that individuals who want to apply with an online casino would be asked to have evidence of identity. With this, online casinos are not permitted to provide any gaming facilities to a customer that has not yet been checked. The primary aim of this is to ensure that no minors will be allowed to access any gaming operation. In addition, it also aims to protect those people who have gambling addiction.