Summary:
- UKGC’s Tim Miller spoke at the recently-concluded Global Gaming Expo in Las Vegas
- Miller said regulators should cooperate especially on the issue of illegal online gambling
- UKGC is committed to working with its counterparts to improve regulatory collaboration
International collaboration between gambling authorities is of paramount importance for better regulation of the online gambling market. That’s the main message of a speech delivered by the Executive Director of the UK Gambling Commission (UKGC) Tim Miller at the Global Gaming Expo (G2E) held this week in Las Vegas.
Internal Collaboration Required for Better Supervision of Online Gambling
Addressing G2E delegates, Miller stressed that online gambling has quickly become a global business, with major operators now present in multiple jurisdictions and more countries launching their respective regulated markets.
Supervising the online gambling industry has become more challenging than ever with the emergence of new products and the growing risks of harm associated with the sector. Differences in regulations from one jurisdiction to another also add to the complexities involved in governing the market.
This makes it all the more important that regulators around the world strengthen their cooperation as they regulate the same companies, address the same risks, and face the same challenges, Miller said.
Among the main issues faced by regulators, according to Miller, is illegal online gambling. What might be legal in one country might be prohibited in another. This is especially true in instances where firms licensed elsewhere offer their services in jurisdictions where online gambling is currently not allowed.
In such circumstances, Miller said it is crucial that regulators are aware of each other’s rules and standards. Sharing information and best practice leads to a more effective regulation of the market, which in turn prevents operators from circumventing the rules, he added.
UKGC Leads the Way in Improving Regulatory Collaboration
Building and maintaining strong relationships with other gambling authorities remains among the priorities of the UKGC, according to Miller. In this regard, the agency recently engaged with its North American counterparts to enhance regulatory collaboration, with the Commission also set to conclude several Memoranda of Understanding with US regulators to establish clear working relationships between each other.
In his speech, Miller also outlined the UKGC’s accomplishments last year when it comes to enforcing its rules and regulations, highlighting that the Commission took the largest enforcement cases in the agency’s history, with regulatory settlements reaching a record-breaking £60 million.
The UK is the world’s largest online market in the world, generating an annual gross gambling yield of £10 billion. This makes it more fitting for the UKGC to lead the way in strengthening collaboration with fellow regulators.
