Hugh Robertson, Minister for Sports and Tourism

Gaming operators in the massive UK market could be looking at some serious regulatory changes if a new draft Gambling Bill makes its way into law.

Under the terms of the proposed legislation, any gaming operator serving the UK market would be required to hold a British gaming license. That’s a big change from the current regulations, which only date back to 2005 and require only firms with key equipment in the UK to be licensed.

According to¬†EGR Magazine, the changes are meant to better protect UK consumers, while allowing homegrown operators a more competitive marketplace. Here’s how British Minister of Sport and Tourism, Hugh Robertson, Minister for Sport and Tourism described the current situation:

Currently, consumers based in Great Britain face different consumer protection arrangements, and have to deal with a myriad of different regulators, depending on where the remote gambling they are taking part in is regulated…These reforms will ensure consistency and a level playing field as all overseas operators will be subject to the same regulatory standards and requirements as British-based operators.

Robertson also said that the new regs could increase transparency and help UK regulators uncover cases of fraud in sports betting markets.

The bill is scheduled for further a hearing in the early part of 2013. According to EGR, the bill stands a good chance at becoming law at that time.

What impact would these proposed changes have on your business? Share your thoughts in the comments section below.

Tags: ,

Related posts: