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UK Gamblers Face Financial Checks

Financial Times Companies •
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The UK's Gambling Commission is proposing new financial risk assessments for online gamblers, targeting those with net deposits exceeding £1,000 in a single day or £3,000 over any 90-day period. Lower thresholds will apply to individuals under 25, who are considered more vulnerable.

These assessments, which the regulator estimates will affect less than 3% of customer accounts, will require operators to use limited credit data to identify customers facing financial difficulties. Companies could then restrict accounts to prevent further spending. The commission stated these measures are necessary because some high-spending, financially distressed gamblers are not being identified and continue to be targeted with marketing.

The industry, represented by the Betting and Gaming Council (BGC), expressed strong disappointment, citing unresolved issues regarding reliability and consumer impact. The British Horseracing Authority warned of £250 million in lost revenues over five years due to the potential impact on betting funding. The proposals, part of a broader review of the Gambling Act, will be rolled out in stages, initially affecting larger companies.