UK gambling regulators are proud of recent changes
The administrative bodies in charge of regulating UK gambling sites and shops are giving themselves a pat on the back this week. In a letter addressed to some of the biggest gambling companies in the United Kingdom, the UK Gambling Commission (UKGC) and Competitive Markets Authority (CMA) lavished praise on their recent joint efforts to institute major, consumer-friendly, changes to the gaming business.
The letter also lavished praise on six big gaming companies including Ladbrokes, William Hill, PT Entertainment, BGO, Jumpman Gaming and Progress Play for their efforts at instituting customer-centric policies. “Each of these firms committed not to continue or repeat certain practices which the CMA considered were unfair. But the impact of this work has been felt across the entire sector,” it reads.
UK consumers, the joint commission says, are rapidly losing faith in the UK-facing gambling industry due to policies that seem to favor casinos, while leaving consumers in the dust. These policies, such as the long held practice of seizing funds from dormant accounts, rather than sending them back to their rightful owners.
Big gambling has actually embraced the spirit of the joint commission’s efforts and changed their own internal policies. Executives at GVC Holdings, for example, are supporting efforts to further regulate and limit advertising for gambling sites and shops.
The joint commission ended their letter with a call for operators to continue making changes saying, “Each of these firms committed not to continue or repeat certain practices which the CMA considered were unfair. But the impact of this work has been felt across the entire sector.”
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