Global regulated gambling: BGC publishes Best Practice Guide
The new guide is intended to cover key objectives common to all international gambling regulators.
UK.- The UK industry lobby group the Betting and Gaming Council (BGC) has taken a key step towards its aim of promoting a harmonised international approach to regulated gambling markets with the publication of its first International Best Practice Guide. The new publication is intended to provide a single body of evidence offering an overview of the shared policy objectives of all global gambling regulators.
Commissioned by the BGC, the guide was compiled by the professional services firm Alvarez and Marsal (A&M). The BGC said the guide allows policymakers and gaming operators to “critically compare” variations in regulatory approaches with a view to inform future decision making. Its aim is to promote a high channelisation towards regulated markets.
It also looks at consumer protection matters related to the protection of young and vulnerable people, safer gambling measures and the promotion of consumer choice through competition. There are also sections on sports integrity and on raising tax revenue by ensuring that operators invest in the markets where they operate.
The BGC’s new CEO Grainne Hurst said: “For the first time, the BGC has brought together the lessons, both positive and negative, which have been learned by operators and regulators around the world when it comes to the online gaming sector.
“This sector will no doubt continue to grow internationally, offering huge potential benefits to existing markets and those which are currently developing. Through effective regulation of this new growth sector, governments can achieve their core priorities of raising tax, boosting growth and jobs, while delivering high standards for player protection.
“In the UK, we have seen that firsthand, where balanced regulations have created a sector which raises billions in tax and investment in the economy while supporting tens of thousands of jobs.
“But the risk posed by the wrong regulatory balance can undermine that good work, and give a foothold to the growing unsafe, illegal gambling black market, which is an ever-present threat in the UK.
“We are proud that BGC members are now a genuine global success story and a Great British export – that is the prize when the right regulatory foundations deliver sustainable success. If you are a policymaker navigating this new growth sector, or an operator seeking to broaden your international footprint, then this guide is for you.”
BGC international director Pierre Tournier said: “For too long there has been a crucial evidence gap when those choices are considered by policymakers. Our ambition for this new guide is that it finally offers a solution to that problem.
“Drawing on the lessons from around the world, operators and policymakers can take a global view of the pitfalls and benefits of different approaches, and make better policy decisions as a result.”
