Date: 02.05.2024

by Kajetan Sawicz

Last update: 08.05.2024 11:49

Betting and Gaming Council Unveils New Code for Enhanced Financial Checks on Gamblers in UK

The Betting and Gaming Council (BGC) announced a development this Wednesday, introducing a new interim code designed to implement enhanced financial risk checks for high-spending gamblers.

UK Gambling Commission Establishes Industry Forum to Enhance Operator Engagement

Introduction of the Interim Code

The newly introduced code is voluntary and specifies the interactions BGC operators must undertake with customers planning to make net deposits exceeding £5,000 in a rolling month or £25,000 over any rolling 12-month period.

Notably, only those intending to spend over £25,000 annually may be required to furnish financial documents to confirm their financial stability.

Minimum Standards for Operators

During a media briefing attended by InterGame, Gambling Commission CEO Andrew Rhodes emphasized that the stipulations set out in the code represent minimum standards rather than maximum thresholds. He highlighted that while some operators currently operate below these thresholds and choose to maintain their stricter measures, the new guidelines aim to standardize practices across the board.

“These are minimum standards, not maximums. Everybody doesn’t have to do the same thing, but as a minimum, they will do these things,” Rhodes explained, addressing concerns about potential increases in threshold limits by operators.

Pilot Program and Phased Approach

Tim Miller, the Gambling Commission’s Executive Director of Research and Policy, detailed the phased approach of the pilot program for the checks, which will build upon light-touch financial vulnerability checks also recently announced. Initially, the pilot will focus on analyzing historic data from non-active accounts before examining active accounts, eventually progressing to more live data assessments.

Miller clarified, “Information they will be getting from credit reference agencies will not be detailed transaction histories, it will be about the credit reference agencies helping to build an overall risk assessment of that customer.”

Broader Involvement and Market Coverage

The pilot, expected to last between four to six months, mandates participation from the biggest operators to ensure substantial market coverage.

However, smaller operators are also invited to participate to provide a comprehensive view of different market segments.

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