Online gambling is a hugely profitable industry; adding around £5 billion to the UK economy each year, it accounts for roughly one-third of all bets placed, with gaming yields rising year on year.
Unsurprisingly, given these figures, the online gambling population in the UK was estimated at 33.58 million active accounts in 2018 and growing, which is why the creation of new online checks will have an impact on a significant proportion of the population.
The rules, which have been introduced to improve accuracy and make gambling fairer, came into effect earlier this year.
Increasing customer protections
According to statistics, around half of the UK population gambles, with 53 percent of men and 44 percent of women stating that they’ve given it a go. Of this number, around 17 percent gamble online, marking a sizeable proportion of those living in Wales.
This means that a large number will be positively affected by recently introduced legislation, which aims to make the industry take greater care of its players. Developed by the Gambling Commission, these new rules will require operators to confirm their customers’ ages and identities in a shorter timeframe than the previously accepted 72 hours.
In order to achieve this, operators will need to verify these details before allowing players to deposit funds or gamble.
Improving turnaround times
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As well as protecting players, the Gambling Commission also wants to make collecting winnings fairer, in the hope of creating a simpler and more enjoyable gaming experience for millions of consumers.
As it stands, those who visit online casinos find an array of options open to them, with sites like Betfair offering the chance to play live casino, slots, jackpots, roulette, blackjack, and more to be in with a chance of winning.
However, the Commission felt that not all operators were making it easy enough for customers to access their winnings. In some cases, they deemed that unnecessary requests for additional information were being made before money could be withdrawn, hindering this process.
Statistics showed that around 15 percent of the complaints made to the Commission concerned an inability to withdraw funds without first submitting additional forms of ID. In order to remove this obstacle and make the player experience more enjoyable, they thus included rules that require reasonable steps to be taken in keeping such information up to date as part of their plethora of changes.
What this means is that not only will customers be able to make withdrawals more quickly, but that it will be easier to detect potential criminal activity in order to further protect players online.
As the Commission’s Chief Executive, Neil McArthur explains: “These changes will make gambling fairer by helping consumers to collect their winnings without unnecessary delay.”
With the online gaming industry evidently taking the needs of its customers seriously, the internet gaming experience looks set to become simpler, safer, and more streamlined than ever before.