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| Fairness and Transparency in Online Gambling |
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In recent weeks, the UK Gambling
Commission and the Competition & Markets Authority have published an
in-depth investigation into whether or not gambling companies behave fairly and
transparently towards customers. After finding that many online casino and
bingo platforms have not been forthcoming enough about the details hidden in
their terms and conditions, the UKGC is aiming to make betting brands in the UK
more transparent and fair for consumers.
This decision has resulted in
the authority bodies releasing a new regulatory strategy, particularly targeted
towards the terms of promotions, such as free bonuses, and the wagering
requirements attached to them. This groundbreaking report has sparked up a much
needed conversation about fairness and transparency in the betting
industry.
These potential breaches of consumer law, such as misleading
promotions and unfair terms and conditions, have brought many other issues to
light and may be the first step in a progression towards total change.
In May 2017, BGO was fined £300,000 by the UKGC for misleading
advertisements regarding promotions and bonus offers; one of the biggest fines
of these kind to date. The commission first raised concerns over the clarity of
BGO’s promotion conditions back in 2015, and had been keeping a close eye
on the consistent lack of clear information about bonuses in the time building
up to the penalty being issued.
BGO’s fine came just months after
888 was penalised for a record-breaking £7.8 million after the company
was found to have failed more than 7,000 customers who had opted to voluntarily
restrict themselves from the company’s casino services. Although
self-restriction failure wasn’t an issue specifically discussed in the
report by the UKGC and CMA, this is one more example of how the issue of
fairness and transparency is being pushed.
The new guidelines put
forward by the UKGC cover five key areas which are intended to improve the
experience for customers while reducing the risks of gambling as a whole. The
strategy has been put in place to ensure customers “are more aware of the
ways they can play and the specific details of each promotion, offer or
game” according to Sarah Gardner, Executive Director of the UK Gambling
Commission.
The move towards a more transparent gambling industry will
benefit consumers greatly. As the UKGC takes steps to issue punishments to any
operators that disregard the new guidelines, customers can expect to be much
more adequately informed of all essential information and protected when they
play.
The move towards a more transparent gambling industry will benefit
consumers greatly. As the UKGC takes steps to issue punishments to any
operators that disregard the new guidelines, customers can expect to be much
more adequately informed of all essential information and protected when they
play.
In light of this drastic change and the news that the UKGC is set
to roll out its new strategy over the course of the next three years, it’s
safe to say that we can expect to see much more fairness and transparency in
the online gambling industry, not just in the UK but all across the world. As
international regulators continue to demand tighter controls and more
transparency, the changes made by BGO and the UKCG’s strategy may become
the blueprints for the new fairer face of online gambling.
About the
author: Pavlos Sideris is Founder of NoWagering.com - the only dedicated resource
of no wagering casinos, free spins and bonuses with low wagering
requirements. |
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