UK gambling operators have been under pressure from the UK Gambling Commission (UKGC) for a number of months to strictly comply with all gaming regulations or face the consequences.
Licensed iGaming operators are now feeling more pressure as the UKGC has confirmed that it is discussing the possibility of imposing a £100 monthly loss limit across the country to ensure that UK players are better protected.
The UK government and the UKGC pushed for the reduction of Fixed Odds Betting Terminals (FOBTs) which was one of the biggest causes for gambling debt and addiction in the UK. Land based casino operators opposed the move but in the end the government amended its laws and reduced the max bet to £2 and rolled it out in 2019.
The moved caused massive losses for land based gambling operators and caused a number of small operators to go out of business. Gambling opponents have now started pushing for the UKGC to impose similar betting restrictions on iGaming operators.
The UKGC is currently discussing the proposed £100 monthly loss limit with all stakeholders. The discussion will revolve around setting appropriate standards that will work well for casino operators as well as for players. The discussions will also address how iGaming operators can identify players who could vulnerable to problem gambling and what steps the casino needs to take to prevent them from succumbing to gambling addiction.
iGaming Operators Must Do More
While iGaming operators are frustrated with the direction in which the UKGC is going, the gambling watchdog claims that licensed iGaming operators are not doing enough to protect players which is why it has to take these stringent steps.
If the max betting loss limit for £100 is applied, iGaming operators will experience a massive decline in gaming revenues. As of now, there is no telling as to whether the UKGC will move forward with this proposal and when it will be implemented.
UKGC head Tim Miller said that there is no set standard being followed across the online gambling industry when it comes to customer protection. Miller says some iGaming operators do not have any protocols in place to protect vulnerable gamblers while some operators have protocols in place but do not enforce them consistently.
The UKGC wants operators to be able to distinguish when a player is using disposable income to gamble and when a player is getting himself into debt. This is going to be a difficult task and we will have to wait and see how the UKGC proceeds with this line of thought!