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UK Gambling Regulator Admitted that Betting Companies Threw It off Its Stride

28 February 2020, 13:51
Votes: 1

The National Audit Office has recently stated that the UK gambling regulator isn’t capable of coping with the fast-paced online gambling industry. It touches more upon the problem of betting companies and obstacles the regulator faces while trying to control them.

UK Gambling Regulator Admitted that Betting Companies Threw It off Its Stride

According to the inspections held by the NAO (the National Audit Office), the Gambling Commission in the United Kingdom isn’t ready to meet current technological changes in the online gambling industry and to cope with them. One of the major reasons for this is insufficient funding that refrains the regulator from taking efficient actions aimed at the diminishment of gambling harm and risks. To make the situation clear, the Gambling Commission has the budget of £19 million, as far as the financial flow in the gambling market is £11.3 billion annually.

Are betting companies the main enemies?

It turned out to be difficult for the regulator to keep all online gambling spheres on a tight rein, especially, betting companies. The government didn’t apply very strict regulations to such electronic slot machines as fixed-odd betting terminals, for example. Although, the main measure to take here is to decrease the maximum allowed sum of betting.

However, the betting business isn’t the only problem. Online gambling, as a whole, is a challenging industry for the regulator to cope with. It needs considerable changes in regulations, including a more thorough check of a gambler’s identity and age, as well as a prohibition of credit cards usage for online gambling.

As mentioned earlier, sports betting in France became the main reason for the online gaming industry growth with €1.42 bln. in 2019.

Read more: Bonus Hunting: Is It a Fraud?

Read more: Europe Faces Major Changes in the Matter of Gambling Policy in 2019

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