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How is the UK Online Gambling Industry Regulated?

How is the UK Online Gambling Industry Regulated?

With the introduction of technology and the internet, the gambling industry has evolved tremendously. From casinos, gambling can now be done online and a lot of online slots sites are popping out here and there. But, this doesn't mean that putting up an online gambling site is easier than having a physical casino. Those online gambling companies still have to go through the process of being regulated by the UK gambling comission. Without such a license and permit to operate, they cannot legally open their slot games to the UK market. Before an online gambling site can operate, there are pertinent laws and regulations that they need to follow, including the UK Gambling Act 2005 and other new gambling laws that are recently created.

The UK Gambling Act 2005

The UK Gambling Act 2005 originated from the Betting and Gaming Act 1960, a law that allowed for bingo halls and casinos to open and operate in Britain. After a couple of years of regulating the gambling industry, this law was updated into the Gaming Act 1968, which liberalized the rules and regulations, making it easier for more casinos to be built and commercialized. The most recent update to the gaming act is the UK Gambling Act 2005 that focuses on online gambling.

Some of the changes made through the UK Gambling Act 2005 are transferring the authority of providing licenses to online gambling companies from the Magistrate's Court to the licensing board or local authorities, putting up the UK Gambling Commission, giving an opportunity for "super casinos" to enter the market, and regulating illegal lotteries.

The UK Gambling Laws - 2020 & Beyond

The changing and growing online gambling industry called for an update of the UK Gambling Act 2005. After this law was passed, the succeeding years became tougher and the authorities had reasons to make new rules and regulations to impose more restrictions on the industry. Some of the changes implemented were fixing the stake limit to £2 on fixed odds betting terminals and implementing new verifications rules. These were made in 2019 in an attempt to create a safer gambling place online.

There were other factors that affected the law that regulates the online gambling industry, such as the event when the UK Gambling Commission received criticisms that it wasn't helping the most vulnerable in the society, which made the commission decide on increasing the fines for those who violate the rules on online gambling.

The law is expected to be updated in the autumn of 2020 and can be moved to 2021 after the pandemic. However, no one knows what will be the update. What's assured is that it's going to be for the best and safety of the online gambling industry and the gamers in the UK.

Responsible Gambling

Another set of rules and conduct the UK Gambling Industry upholds is responsible gambling. It is a set of social responsibilities created not just by the industry but together with the government, operators, and control boards. This rule seeks to prevent illegal and inappropriate acts from happening in the industry, such as frauds, underage gambling, and other criminal behavior. The rule also seeks to prevent gambling addiction, respect information privacy, record prompt and accurate customer payments, and fair gaming.

Responsible Gambling has codes of conduct made by different organizations interested in making a safer gambling place online. The codes uphold the principles of responsible gaming. Like laws, there were also changes to the codes, which were created to be in line with the evolution of the online gambling industry.

Summary

The online gambling industry can be as safe as physical casinos and bingo halls, thanks to the UK Gambling Act 2015, Responsible Gaming, and the upcoming Gambling Law next year. Online gambling sites are now better and safer because of the combined efforts of the authorities, operators, and different organizations to make pertinent rules and regulations for the wellness of those who are involved in gambling activities. The rules will keep changing but it will always be for the best of the industry and gamblers.