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As online gambling markets continue to be unbolted in countries across the world, the United Kingdom remains the blueprint which all the others would do well to follow. The UK gambling market is one of the most mature in the world, having grown rapidly following the 2005 Gambling Act. All gambling operators (online and offline) in the UK are regulated by the UK Gambling Commission (UKGC). The UKGC is a UK government appointed body which oversees all gambling activity in the country. It has the power to decide which operators can and cannot offer their services to UK gamblers. Essentially, any operator which wishes to legally offer games of chance to the UK public must first be granted a special license to do so by the UKGC. The UKGC is one of several components which makes the UK gambling as successful as it has been for well over a decade now.
A Short Background on Online Gambling in the UK
The 2005 Gambling Act allowed gambling operators across the world to market themselves and offer their services to UK punters. This act also provided a welcome boost to the UK treasury, which taxed gambling companies on their revenues. Despite the success from the perspectives of operators, the government and gambling lovers, the market has met fierce criticism over the past few years. So much so that the Act is now in the middle of a review in which the government has promised to make it fit “for the digital age.”
The Components that help to make UK Gambling Safe
As we have already discussed, the UKGC, despite its many critics, does a reasonable job of ensuring that gamblers in the UK are safe. From an online casino point of view, all of them are thoroughly checked to ensure that they offer 100% safe and fair gambling. Checks are also made to ensure that customers money is always safe and is kept separate from the casino’s own funds.
In addition, casinos offer players numerous of different deposit and withdrawal options. Many of these options, such as PayPal, allow players keep there banking information safe from the casinos. The UK offers a variety of distinguished PayPal driven sites which are 100% safe and allow their players to play games using their PayPal wallet.
A few years ago, the British government banned credit card gambling to protect potential problem gamblers. Despite the constant criticism surrounding online gambling, there is a great deal in place to protect players who are susceptible to gambling addiction. The creation of GAMSTOP, a free service which allows you to completely ban yourself from all gambling activities is an incredible tool. All UKGC licensed gambling operators must opt in to the GAMSTOP scheme for them to be issued with a UKGC license.
Whilst many predict that the sun is beginning to set on gambling in the UK, in the USA the sun is just about to come up above the horizon.
2022, USA Gambling and Beyond
The UK government is expected to release its decision ‘any day now’ into the changes made to the 2005 Gambling Act. Whilst the smart money believes that the major changes hit gambling sponsorship in sports the hardest, UK online casinos are bracing themselves too. Betting limits on online slots and the amount of money which can be deposited per week have reportedly been discussed.
Unfortunately, there remain too many casinos in the UK which are falling short of responsible gambling rules. Last month Genesis Global, which own several online casino brands operating in the UK, received a £3.8 million fine (its license was initially suspended last year but has since been reinstated). The concern for many in the industry is that a lot of the big players will ruin it for everyone due to their greediness.
However, doubt the effectiveness of UK gambling companies at your peril. Many US gambling operators including MGM are investing in ready-made expertise from the UK. William Hill was bought by Caesars Entertainment and other similar takeovers are expected to follow. Following the supreme court’s overturned ban on sports betting, the US sports betting market alone is expected to be worth around 17 times more than the entire UK gambling industry with an estimated worth of £40bn a year.
Offering its citizens safe online gambling should be the number one objective of any country which has its sights on a government regulated online gambling market. We certainly hope that US bodies heed this advice. The only way to have a sustainable gambling market is if the overwhelming majority of gamblers are having genuine fun.
