Posted in Industry February 18, 2019
Gambling Commission Proposes Additional Licence Conditions Update
The UK Gambling Commission is working diligently to prevent money laundering and other criminal activities associated with online gambling. One of their top priorities is ensuring that all licensed online casinos have comprehensive measures in place to reduce the number of new gambling addicts and support those who already struggle with addiction.
The recent update provides insights into the National Responsible Gambling Strategy, including its purpose, significance for the community, and the timeline for implementation. This is not the first time, nor will it be the last, that the UKGC has updated multiple license conditions within a short span of time. The UKGC is highly respected in the online gambling industry and is known for its stringent regulations and licensing practices.
Why Are Licenses Important?
Obtaining a world-class license, such as one from the UK Gambling Commission, requires a substantial investment of money and effort. It is not easy to acquire and maintain such a license. However, when viewed from a player’s perspective, the reasons for online casinos seeking this kind of license become clear.
Players want to feel safe and secure when gambling online, given the prevalence of news articles about addiction, scams, and online fraud. Nobody wants to wake up to discover that the casino where they deposited their money no longer exists or that their funds have vanished during a transaction.
Another key reason to choose a licensed casino is fair odds. Casinos with their own software can manipulate odds without any authority overseeing their practices. However, licensing agencies ensure that casinos and software providers offer attractive Return to Player (RTP) percentages and actually pay players as promised on a regular basis.
Also, read our previous texts on this subject – you can find it here and here.
What is the National Responsible Gambling Strategy?
While the name of the program explains its main purpose, it encompasses much more than initially meets the eye. The program consists of 38 A4 pages filled with content explaining how, why, and when to implement responsible gambling protocols on online gambling websites worldwide.
The Responsible Gambling Trust (RGT) is an independent charity that focuses on research, treatment, and education related to online gambling addiction. Anyone who has encountered someone struggling with gambling addiction understands the serious nature of this issue. Individuals grappling with gambling addiction often struggle to control their behavior, and it is essential that they have support from friends and family.
Gambling addiction does not develop by choice; it can escalate from harmless fun to serious problems rapidly. Raising awareness about gambling addiction is crucial, especially in today’s world where nearly everyone has access to the internet via mobile devices around the clock, including children.
In addition to providing treatment for those struggling with addiction and preventing others from falling into the same trap, collecting data and improving current methods are essential. Evaluating the effectiveness of programs and therapies can lead to more successful outcomes.
What to Expect in the Future?
Based on the UKGC’s actions this year, it is likely that there will be a period without major news updates. The recent actions will need time to take effect, and evaluating their effectiveness will require weeks or months of observation and analysis.
Fortunately, both players and game providers agree that preventing issues like addiction should be a top priority. It is always easier to prevent a problem than to attempt to treat it. Players are encouraged to gamble responsibly, set strict budgets, and avoid gambling while under the influence of alcohol or drugs.
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