UKGC Unveils Changes to Deposit Limits, Fund Protection Transparency

UKGC Introduces New Rules to Enhance Player Protection in British Gaming Industry

The UK Gambling Commission (UKGC) has recently announced significant changes to deposit limits and player fund protection in the gambling sector. These changes come as part of the commission’s ongoing efforts to reform British gaming for the digital age, in alignment with the measures outlined in the 2023 white paper.

Enhanced Control for Players

The new rules introduced by the UKGC aim to provide players with more control over their deposit limits. Starting from October 31, operators will be required to prompt consumers to set limits before making their first deposit. Moreover, players will have the flexibility to easily adjust their limits as needed to protect themselves from overspending.

This move reflects existing practices offered by some operators and extends them to all gaming platforms in the UK. Operators must also remind players to review their account and transaction information every six months to help them monitor their limits effectively.

Furthermore, operators are mandated to ensure that setting deposit limits is clear and user-friendly, addressing concerns raised about the complexity of certain companies’ deposit limit systems.

Improved Fund Protection Measures

Additionally, operators will be required to implement enhanced player fund protection measures. They must clearly define the terms and conditions for holding player funds and specify how these funds will be protected in the event of insolvency. This information should be communicated to players during their initial deposit, with varying levels of protection available:

• Not protected – no segregation
• Not protected – segregation of customer funds
• Medium Protection
• High Protection

Operators falling under the first two categories must notify customers every six months that their funds are not protected.

Preparation for the Statutory Levy

The UKGC also warned operators about the upcoming changes related to the introduction of the new statutory levy. Currently, operators are required to make voluntary donations to support research, prevention, and treatment organizations. However, this system is set to be replaced once the statutory levy is enacted, expected in April.

Tim Miller, the UKGC’s executive director for research and policy, emphasized that these changes reflect the commission’s commitment to promoting fair and customer-friendly gambling practices. Miller stated that the UKGC will continue to work on fulfilling other commitments outlined in the white paper.

By implementing these new rules, the UKGC aims to empower consumers to make informed decisions about their deposit limits, track their spending effectively, and understand how their funds are protected in various scenarios within the gambling industry.