The industry watchdog, the UK Gambling Commission (UKGC) has provided a strong warning to UK and Wales based casino operators about their responsibilities to customers.
Recent departures from the online gambling industry in the UK
The warning to casino firms, for both shop and online casinos, comes shortly after departures from the UK gambling sector by firms ComeOn and Every Matrix. After their exits, the Gambling Commission has released a statement to casino operators to highlight that these companies’ departure from the UK market shouldn’t represent a disadvantage to customers.
The industry regulator highlighted that the operators who are leaving the UK market will be winding down operations whilst keeping their ‘integrity.’ Furthermore, the UKGC has emphasized that these casino firms will also need to ensure they have enough financial resources in order to pay out any liabilities prior to exiting the country.
UKGC highlights the need for customer education on gambling
The Gambling Commission has also indicated a need for businesses to better educate customers about the increased risk that is associated when it comes to long-term bets.
For example, long-term bet, such as who is most likely to win the World Cup in 2022, are at the greatest risk of insolvency. The UKGC has emphasised the need for businesses to better inform its customers about these bets being potentially more vulnerable, as well as informing them of protections are in place, if any at all.
Requirements on re-entering the UK market
The watchdog also stated that for any gambling firms that request re-entering the UK market at a later date, it will be looking at these operators’ conduct whilst leaving before making any decisions as to whether they can re-enter the market.
For example, the UKGC has suggested that if a gambling operator has a number of complaints made against them, it could hinder their chances of being able to get a license in the country again. Alternatively, it could mean they have severe conditions put on their business.