On September 14, 2023, the UK Gambling Commission announced that they’d establish an industry forum. The forum will consist of stakeholders from the UK’s gambling industry to give deeper insight into any operating issues that the top UK gambling sites and service providers face, reports BritishGambler.co.uk.
The Reason Behind The Establishment
A deeper understanding and extensive insight appeared to be one of the most apparent reasons the commission started the forum. With the success of the UK online gambling industry, the regulatory body must be able to establish an easier way to obtain information.
The Commission Chair, Marcus Boyle, stated that they’ve always paid attention to the industry for every step they took to make progress. However, the panel can give them a new way to work alongside the representatives from the industry under their regulation.
The Commission’s regulator said the Forum could be the body’s ‘vehicle’ to connect them directly and get them involved in various advisory groups and stakeholder initiatives. The panel will include the Digital Advisory Panel, the Advisory Board for Safer Gambling, and the Lived Experience Advisory Panel.
Getting involved directly in the industry isn’t the only reason the Commission established a forum. They’ll also design the platform to strengthen the gambling authority’s connection with the consumer research field. Establishing a conference can help the Commission make better relationships with foreign gambling regulators, or research organisations, as well.
Not only giving the regulator more insight, the establishment can increase the effectiveness of applying regulations. The panel can help enlighten stakeholders by giving industry views on the field through the Commission’s data program and account management. They’ll provide clarifications and consultations on industry-specific issues.
Recruits and Effectivity
The UK Gambling Commission has stated they’ll appoint a Chair of the Forum for a three-year term. The rest of the forum’s members will be people who understand the industry well and are capable of reporting the opportunities and challenges it faces. The estimated number of people in the panel will be approximately ten representatives from various gambling sectors.
The Commission will start the recruitment for the Chair of the Forum this month. The regulatory body will also invite expressions of interest to join the panel. When the recruitment and the team are complete, the regulatory body will inform the public by posting the full member list on the UKGC site.
What Triggers The Establishment?
The UKGC faced multiple misunderstandings regarding policies on financial risk checks (affordability checks), and the forum was deemed the best way to solve the problems. Andrew Rhodes, the UKGC CEO, stated that the regulator had found considerable misinformation through consultation, social media, and other media.
Financial risk checks have been one of the most highly-questioned topics. It has been included in the white paper, publicised back in April. According to Rhodes, the financial risk checks dominated responses that the Gambling Act review white paper consultations received so far.
By engaging with people who are related deeply to the gambling industry, The UKGC also hopes to consult more with the sector for future development. The body posted the consultations back in July, examining several proposed policies transparently in the Gambling Act white paper.
There was scepticism that checks would inconvenience people. The UKGC suggested focusing on high-spending gamblers to do proportionate reviews. This is because high-spending gamblers can face more severe problems, and the body can target the most alarming area.
The Proposal
The clarifications will aid responses as the UKGC processes consultations for the remaining six weeks. The regulatory body hopes that the proposal can bring the right balance between giving people the freedom to gamble while conducting proportionate checks where they can protect customers.
The proposals include financial risk assessments for approximately 3% of gambling accounts. The checks will mainly progress through a credit reference agency, but Rhodes ensures that credit score won’t be affected in any way. However, if customers choose not to consent via open banking, they must provide evidence via other forms.