The UKGC Gives Warnings to Operators Over Withdrawals
by Glenn Baird - August 30, 2018
In a statement released yesterday the UK Gambling Commission stated that online gambling operators would face serious repercussions if they are found guilty of levying unfair restrictions on people trying to withdraw money from their accounts.
The move from the UKGC comes not long after the Competition and Markets Authority (CMA) published findings on their enquiry into the practices and terms from online gambling operators deemed to be unfair.
The findings resulted in CMA forcing two betting firms to change the restrictions that they place on their withdrawals. The UKGC will look to ensure that all online betting firms are held to the same standards set by CMA.
Executive Director at the UKGC, Paul Hope stated that:
“We are committed to raising standards for consumers in the gambling sector to ensure they are getting a fair deal. We’ve already been working with the CMA to tackle unfair online gambling promotions, and today’s announcement will improve how customers are treated.
“In July, we announced new rules, which will make it quicker and easier for the Commission to take action for breaches of consumer law. That includes taking action where firms breach the principles laid out by the CMA. We support the action taken by the CMA and expect all online gambling businesses to take immediate action to update their practices in line with these, or face action by the Commission in the future.”
From the end of October this year, companies breaking advertising or counsumer law will also face sterner repercusions from the UKCG.
Chief Executive, Neil McArthur said: “Protecting the interests of consumers is a priority for us and needs to be a priority for gambling operators.
“These changes will protect consumers from irresponsible advertising and misleading promotions, ensure that they can withdraw their money more easily, and will mean that firms have to deal with complaints more swiftly.”