BGC Wants Seamless Affordability Checks on UK Bettors

Details: Category: Gambling Industry; Created: Saturday, 20 January 2024 03:47

After the UK government announced the debate on the proposed financial risk checks, the Betting and Gaming Council wants the government to implement seamless affordability checks. They want the process to be unintrusive to players.

If the original idea goes through, gaming businesses must verify that their customers can afford to gamble if they lose a moderate amount of money. Operators are responsible for acting if they identify a client like this to prevent them from losing further money and developing a gambling addiction. According to government estimates, only around 20% of customer accounts will be subject to such audits yearly.

Neil Truesdale, CEO of The Jockey Club, created a petition to halt the UK government's plans to enact this legislation. According to sportsbook reviews and news sites, the petition successfully gathered over 100,000 signatures, which led the government to arrange a discussion on the subject. The British horse racing business and the possibility of discrimination were two of the main concerns voiced by those who were against the plan.

BGC Hopes for Seamless Affordability Checks

According to BGC CEO Michael Dugher, the organization favors the checks. However, he did mention that vigilance would be necessary to make sure the checks are frictionless and only impact people who are at risk of gambling damage. Dugher emphasized that most bettors are entirely secure from harm and that too invasive inspections might drive people to the underground gambling sector. The legitimacy of horse racing and other UK sports would suffer, and consumers' safety would be hit because of the nature of unauthorized websites. Dugher praised The Jockey Club for initiating a debate in parliament.

The Betting and Gaming Council wasted little time on January 16th outlining how sports betting generally benefits horse racing and the economy. Thus, many people want to learn how to be a bookie in the UK. Sportsbooks' dedication to negotiating sponsorship deals and paying a fair fee resulted in around £384 million for the horse racing industry in 2022. Furthermore, gambling has contributed £7.1 billion to the economy and created £4.2 billion in tax revenue. Currently, there are 110,000 job openings in the gaming business.

It was also stressed how little the fraction of the population that experiences adverse outcomes due to gambling is. According to white label sportsbook experts, the British Gambling Council estimates that 22.5 million persons in the United Kingdom wager at least once a month, and a recent Health Survey for England found that around 0.4% of adults are battling gambling damage.

The British Horseracing Authority's (BHA) chief executive officer, Julie Harrington, released a statement last week in which she welcomed the idea that lawmakers will discuss the matter. Harrington agreed with Dugher that it is critical to safeguard gamblers from developing gambling problems. Still, he stressed that millions of people enjoy betting on sports and horse races without experiencing any gambling-related issues.

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