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UKGC: Features & Duties - Gambling Commission

Personal_Finance / Gambling Sep 24, 2019 - 07:15 AM GMT

By: Submissions

Personal_Finance

The internet development brought a new form of gambling in the UK and in 1994 the first virtual casino was released which was powered by software developer Microgaming. Then, other casinos were launched that catered to the gambler’s needs. 

The UK Gambling Act was signed in 2005 and the Gambling Commission was established under this Gambling Act. Apart from regulating commercial gambling, this authority has also controlled the British National Lottery since 2013 in the UK under the National Lottery Act 1993.



UKGC Information

The United Kingdom Gambling Commission is the main licencing authority set-up under the 2005 Gambling Act but came into force on September 1st, 2007. This regulator entity regulates all types of gambling which means brick and mortar as well as online gambling. 

Reputed to have strict regulations and set of rules, UKGC safeguards players seriously. The UKGC licenses and regulates any gambling business such as:

  • Online gambling such as online sports betting, online casinos, online poker, and online lottery.

  • Land-based gambling which includes casinos, bookmakers, poker rooms, and more.

  • In 2014, the Commission started to cancel the licence to the gambling sites not on Gamestop and operators who broke the licensing agreement. As it is very severe when it comes to licences and rules, this regulatory authority has fined many regulators.

Features

  1. Licences. The UKGC requires all firms involved with gambling activities to hold a licence so that they can run their businesses in the UK. In fact, this authority can issue various types of operating licences allowing the operators to operate in there. This Gambling Software Licence is under the Gambling Act of 2005. Therefore, any software created in the connection with online gambling has to hold this licence. Here are these kinds of gambling software licence that the Gambling Commission can supply.

  2. The first one is the Non-Remote Gambling Software Operating Licence. This licence allows the companies that are engaged with creating and development, installation and adaptation of the gambling software used by the firms licensed by UKGC. Licensed operators are required to provide reliable software that is run with the remote gambling and software technical standards of the UKGC. Besides, these operators must pay an application and an annual fee.

  3. The second licence is called Remote Gambling Software Operating Licence that permits the operators to provide the local customers straightforward gambling online or via other means of remote communication. These operators are required to hold this kind of licence as long as the part of their remote gambling equipment is based in the UK.

  4. Several regulations. As stated above, the United Kingdom Gambling Commission is reputed for its strict rules that are reliable and advantageous for both the operators and consumers. This regulatory frequently releases new rules in the goal to implement a safe and secure gambling activity in this territory. These regulatory policies are implemented to make the casino operators more careful, reduced underage betting growth, and better gambling products and services.

Duties of the UK Gambling Commission

The main focus of UKGC is to avoid any criminal activities related to gambling. Moreover, this body also ensures that this sector is open to any companies that want to run in the UK. Lets’ see in details this regulator’s duties and responsibilities.

  • Protects minors and vulnerable people from any gambling problems. Hence, the operators must have effective approaches to verify their customers’ ages.

  • Make sure that the licensed operators have to take all the necessary means to protect the players that experience gambling problems or may develop one.

  • Ensures that all the licence holders have another bank account to keep gamblers’ funds.

  • Investigates if the licence holders use products by the licensed software provider.

  •  Make sure that the gambling operators make the possible measures to detect and to prevent money laundering.

  • Make sure that the licence holders aren't deceiving the players with the promotions, bonuses, and advertisements are not appropriate about what they offer.

Conclusion

"To make gambling fairer and safer" is the slogan of UK Gambling Commission which means that the customers are ensured to play safely and fairly. This governmental body has applied effective policies towards its licence holders in order to provide the highest protection for players and make sure that they are treated fairly by the gambling operators. Thus, those who want to operate in the United Kingdom are required to apply for a licence on this regulator.

By Will Terry

© 2019 Copyright Will Terry - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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