UK Gambling Commission Publishes Annual Report 2017-2018
On July 13th, the British Gambling Commission published the annual report for 2017-18. In the report, the gambling regulator reviewed their achievements in making online gambling world fairer and safer. Some of the key steps the regulator made during last year include the UKGC three-year business plan, new enforcement strategy, and review of gaming machines.
In April this year, the UK Gambling Commission published a business plan for the period between 2018 and 2019. This plan was just a starting point for the regulator, and a part of a bigger plan the UKGC has for the next three years. The key aspects the UKGC outlined in its business plan included raising awareness about gambling-related problems, as well as taking the industry standards to the next level.
The annual report also talked about the new enforcement strategy. The British gambling regulator introduced online gaming companies with its new approach to breaches of gambling regulations. The Commission plans on increasing financial penalties. This especially applies to gambling operators that fail to comply with their licence terms on a repeated basis.
The UKGC has always been in favour of reaching a settlement with operators who fail to meet the regulator’s objectives. The regulator rarely resorted to its regulatory powers. With the new enforcement strategy, the Gambling Commission adopted a new approach in dealing with gambling companies that fail to comply with the terms of their gambling licence.
The former UKGC Chief Executive, Sarah Harrison explained the regulator’s objectives for its new enforcement strategy. “The industry can be assured that we will use our powers in a targeted way, and consumers and the public can be assured we will take robust and effective action when gambling companies don’t meet their obligations,” Harrison explained.
Another significant step the UKGC made this year focuses on the regulator’s review of gaming machines. To reduce gambling-related harm, the Commission proposed that the maximum stake on fixed odds betting terminals decreases to £2.
Leading UK PayPal casinos and sports betting operators changed a lot in the past year. After all, putting customers first and complying with industry’s standards should always be the primary concern of online gambling operators. With all the steps the UKGC made during 2017 and 2018, this will no longer optional, but mandatory.