British Gambling Commission announces mandatory deposit limits for new players
The new limits are one of a series of new regulations for online gambling.
UK.- More changes are on the way for British gambling regulations. The Gambling Commission has announced that operators will need to make all first-time depositors set mandatory deposit limits from October 31.
Operators will need to prompt customers to set a deposit limit of their choice before they make their first deposit with the licensee. Some licensees already do this, but the measure now becomes compulsory, and operators must ensure that players can easily review and modify their limit after they set it.
Another change will require licensees to remind users to review their account and transaction information every six months. The regulator said the aim is to help players evaluate whether they want to change their deposit limits and to manage their gambling more effectively.
“These rules will take good practice already offered by some operators and expand that so customers can expect the same standards across the industry,” it said.
Protection of customer funds in gambling accounts
A further change will require operators to specify the level of protection provided over funds held in player accounts in the event of insolvency. The information must be provided in conditions before players make their first deposit. The level should be displayed as: “not protected – no segregation”, “not protected – segregation of customer funds”, “medium protection” or “high protection”. Those operators whose customers’ funds are “not protected” will need to remind consumers of this every six months.
The commission said: “While there is no legal duty on gambling operators to protect customers funds in the event of insolvency, many of them do so voluntarily. The changes will help consumers understand which operators protect their funds and which do not. This information will support them in making choices about who they gamble with.”
More consultations
The Gambling Commission will also launch a brief supplementary consultation on proposals to help customers understand how limits work in order to improve consistency and transparency. It said research had shown that there was some confusion about the process among both players and operators.
Meanwhile, the Gambling Commission has launched a consultation on proposals for new technical standards and testing criteria for gaming machines at land-based gaming venues. The proposals include five new standards, a licence condition, and a social responsibility code provision. There are proposals for time and monetary limit setting, safer gambling messaging and how net position and session time should be displayed.
The regulator has also provided an update about the new mandatory gambling levy, which is expected to come into effect in April. It confirmed that as a result of the introduction of the levy, it will scrap the requirement in its Licence Conditions and Codes of Practice for operators to make donations to research, prevention and treatment organisations.
