The U.K. Gambling Commission (U.K.G.C.) has revealed its latest three-year plan, set in five points, which should help the country's gambling authority shape and regulate the market.
According to available data, 63% of Britons have gambled during the last year, and the new plan addresses the risks the industry is constantly facing. The ultimate goal is to have a well-regulated market, safe for consumers and profitable on a long-term basis.
Improving Player Protection
The first main objective of the new plan is to protect to ensure customer's interests by increasing the overall player protection and the protection of at-risk consumers. This should be achieved through stricter regulations and tougher sanctions to operators who fail to comply with the new strategy.
U.K.G.C. also intends to increase provision of gambling and its risks, thus reducing the possible harm to consumers. Apart from these measures, the Commission is set to establish better management of gambling itself and to raise the overall standard in the British gambling market.
The Commission wants far more effective and independent arrangements to be put in place, especially when it comes to consumer complaints and disputes.
U.K.G.C. added it planned an optimization of the regulations in order to deliver a healthy National Lottery, as well as a new license for the competition, which would be awarded in 2023.
All in all, U.K.G.C. wants to improve the current regulation and to set new standards when it comes to consumer protection.
The industry needs to take precautionary actions whenever and wherever necessary, to offer the maximum safety for each gambler.
Commenting on the new plan, Bill Moyes, Gambling Commission Chair said this was an ambitious strategy which would deliver fairer and safer gambling.
Moyes stated the goals were ambitious but he strongly believed U.K.G.C. would be successful by working closely with its partners, consumers, and the entire industry.
He added this strategy would not only challenge the industry, but also the regulator itself, to deliver effective regulation.
According to Moyes, the gambling authority expects to see a thriving industry, fair and safe for its consumers.