UK Gambling Commission Publishes Business Plan for 2023-24
On April 30th, the UK Gambling Commission published their business plan for 2018/19. The gambling regulator developed an initial plan for the next three years to navigate it in the right direction towards making gambling fairer and safer. The UKGC listed their priorities in the report with expected results for each of them.
One of the first topics on the UKGC list is protecting customers. The regulator plans on improving and making advertising rules more transparent. A focus group will also be introduced to test new policy ideas. In efforts to protect customers, the Gambling Commission is to make further alterations for preventing unfair practices. In the third quarter of the year, the regulator will disclose additional requirement for alternative dispute resolution providers.
When it comes to preventing gambling harm, the Commission will introduce necessary measures to raise awareness about the gambling-related problems to an even higher level. The regulatory body aims to create various partnerships to evaluate the impact gambling has on society. They will also work on further developing the national responsible gambling strategy and publish it in the second quarter of 2019.
Additionally, the Commission promised to review gaming machine regulations, as well as focus on protecting online customers better. In the online area, the regulatory body will devote more attention to the identity verification and fair play.
Also, the UKGC aims to raise the industry standards. They plan to introduce various publications and events that will illustrate the best practices in the industry. Helping the money laundering task force is among regulator’s primary concerns in the upcoming months.
Furthermore, the UK’s gambling watchdog plans on giving consumers more information on how the funds from society lotteries are used.
When it comes to the UKGC finances, the regulatory body expects the most substantial part of its revenues to come from betting. UK PayPal casinos and online casinos in general, as well as land-based casinos, should make 27% of the total revenue.
Commenting on the UKGC business plan, William Moyes said, “It will deliver real change for consumers, the gambling industry and for us as the regulator.”
Judging from this paper, the UK Commission will have a busy remainder of the year. Despite operating one of the best-regulated gambling markets, there is still room for improvement. After all, gambling operators wouldn’t be themselves if they didn’t try to play the users and the UKGC.