UKGC launches discussion paper on virtual currencies, eSports and social gaming
The aim of this discussion paper is setting out the Commission’s latest thinking on virtual currencies, eSports and social gaming.
UK.- The UK Gambling Commission has launched a discussion paper setting out its latest thinking on virtual currencies, eSports and social gaming and seeking views on emerging issues that can pose a risk to both regulation and player protection.
The Commission’s discussion paper has been prepared with the aim of clarifying the blurring lines between some social gaming products, gambling, technological advances and the expansion of digital or virtual currencies.
“Our key concern is to ensure that consumers are protected and that children and other vulnerable people are not harmed or exploited by gambling,” explained Neil McArthur, general counsel at the Gambling Commission. “This discussion paper brings to the fore some areas where we see real issues for regulation, player protection and the protection of children and young people. Any operator who is offering unlicensed gambling must stop – or face the consequences.”
And he added: “We are also concerned about betting on eSports. Like any other market, we expect operators offering markets on eSports to manage the risks – including the significant risk that children and young people may try to bet on such events given the growing popularity of eSports with those who are too young to gamble. Finally, in terms of social gaming, the commission’s view has not changed significantly since the publication of its social gaming paper in January 2015.”
Interested parties have until 30 September to share the views on the proposed issues. The Commission will also be looking for suitable opportunities during the Autumn for direct engagement prior to issuing a position paper towards the end of the year.
