The UK gambling industry evolves in 2024 as the authorities and legislators introduce more stringent standards for protecting people from gambling-related risks and negative impacts. The Gambling Commission, which is the regulatory body for gambling in the UK, has made several significant alterations to its licensing and regulatory framework this year.
One of the most significant changes is the introduction of new financial risk assessments, previously referred to as affordability assessments. Operators are now expected to make a decision on whether a customer’s gambling activities are likely to put the customer in a worse financial situation. This measure is designed to protect the vulnerable population from overspending and possibly developing a gambling addiction.
The Commission has also made suggestions on the remote game design such as setting a minimum game speed of 5 seconds for non-slot products and the elimination of features that can help in speeding up the game or even deceive the consumer. These changes are expected to help minimize the chances of people gambling more than they should or within a shorter period.
Physical gambling facilities are experiencing heightened age verification standards. As for the changes in the rules, betting shop staff are now obligated to verify the age of any person who looks to be under 25, whereas earlier, they could identify a person as underage if he or she was below 21. This change should also reduce underage gambling and shield young people from negative consequences.
The online gambling sector is subjected to particularly stringent regulation in year 2024. New regulation call for higher standards in safeguarding the integrity of games and protecting the online gaming environment. They include the requirement for certified random number generators and improved security measures for user’s information. There is also a focus on the effectiveness of the measures which are designed to help a player manage his/her gambling, including deposit limits and time-outs, and they should be easily available to the players.
It is now harder to obtain and maintain the UK gambling license due to the new regulations. The gambling businesses are required to prove higher standards in areas such as financial reporting, AML, and corporate management. There has also been an increase in the frequency of license review coupled with the constant assessments and audits to ensure compliance with the regulatory provisions.
The Gambling Commission is also looking to build stronger working relationships with its counterparts in other countries to address potential problems such as advertising, match-fixing, and fraud across borders. This approach is consistent with the fact that the gambling industry is borderless, especially when it comes to the internet.
In regards to industry performance, the overall gross gambling yield of the UK online gambling in the first quarter of the 2024-2025 financial year rose by 12 percent. However, this growth has been accompanied by escalating regulatory concerns and awareness among the public. There are several enforcement actions that have taken place in the industry; for instance, Bet365 was fined £ 582,120 for regulatory breaches and Gamesys £ 6 million.
The National Lottery has also changed its position with Allwyn Entertainment becoming the new operator since February 1, 2024, which means the start of the Fourth National Lottery License. This change is significant in one of the most recognized gambling establishments in the United Kingdom.
People’s awareness and concern with the negative effects of gambling remain high. The national online self-exclusion scheme in Great Britain, GAMSTOP, recorded its highest registration rates in 2023, which shows that more people are seeking assistance for gambling issues.
With these new regulations and changes in the society, gambling operators are challenged with the issues of making profit while promoting responsible gambling. The next few months are likely to witness more changes as the effects of these changes are realized and as the regulatory authorities continue with the process of fine-tuning the gambling regulation in the UK.