UK Gambling Commission: Before 2014 in the UK it was not a requirement for casinos to be regulated, these were optional decisions taken by the casino.
Such implications meant that players did not have a leg to stand on in terms of gambling protection. With the player in mind, the UK Gambling Commission was established. All UK based casinos now require this license in order to be legally operational. This license aims to remove criminality from the gaming environment and also protect its vulnerable users.
This includes also minors and vulnerable adults. Achieving such a goal requires that a casino is also transparent therefore removing the element of possible criminality.
Rules to be a part of the UK Gaming Commission
Below is a list of rules any interested body must consider before attaining a UK Gambling Commission license:
- Identity and Ownership – this refers to the body of ownership, it’s the person applying for this casino license. In addition to this, they would need all the relevant ownership information.
- Finances – this looks into whether the applicant can afford to run a casino. Does he or she have the necessary assets and also financial history? Because of this it’s important to check all financial information.
- Integrity – this is an honest and reliable test. Character referencing is especially relevant and of immense importance in such a business
- Competence – this looks into the type of experience and also the expertise of the applicant/people running the casino has acquired
- Criminality – the focus is researching whether the applicant has a criminal record or not. Furthermore, the casino has a rigorous procedure to pass before receiving a license. Such procedures include checking that the casino has put in place procedures because it prevents minors under 18 years old from using their services. The casino must also adhere to Anti Money Laundering legislation.
Also, to closed loop policies related to withdrawals. For example, if a player deposits 100 euros from their credit card and wins 200 euros. The player has to be able to withdraw at least 100 euro back to that card before taking the money out in other forms such as e-wallet and other card options.
UK Gambling Commission: Player Registration Process
This process involves the collection of the following information: Name, Date of Birth, Address and also the KYC Verification Process. This is to ensure the player is of the legal age of 18 and above.
The objective is also to prevent children under the legal age from being exposed to gambling. Also, to prevent known criminals from taking advantage of gambling services and protect struggling gamblers that have already admitted to having a problem.
Responsible Gaming and Player Protection
Most noteworthy, the UK Gambling Commission takes the responsible hand of ensuring casinos also have the mandatory procedures and policies to protect problem and vulnerable gamblers from being exploited.
Such procedures may include setting limits on the account of the player. They can also give players the choice of permanently closing their account without the chance of reopening. Overall