Stay updated on the latest UK gambling industry developments – news covering BGC’s backing for a tiered levy system, Kindred’s £7.1m fine and Betknowmore joining NGSN! (Photo by Antonio Borriello)
In the latest UK regulatory gossip, the BGC support the government in a big to have land-based casinos pay a levy to support problem gambling. Yet, there are still some terms to thrash out and they don’t see eye to eye on the proposed percentages casino should pay.
Furthermore, we take a look at the latest fines dished out by the UKGC. Just recently London Stock Exchange listed 888 Holdings stomached a huge £19.2 million for failure on its William Hill and Mr Green brands. Now two more companies are in the limelight including NASDAQ Stockholm-listed Kindred Group.
And as the British online gambling market continues to fight against the harms of problem gambling an amicable partnership may well boost the cause. Gambleware has put into action a new charity service called National Gambling Support Network (NGSN) to focus on catching problem gambling in its early stages.
Where to gamble? When you are choosing an online casino or sports book to place bets, always look for licensing. For UK players that is the UKGC. For players globally the MGA is one of the most reputable licensing authorities online, while Curacao licensing is also popular. For more information, check out the secure online gambling sites listed here as well as explanations of the licensing authorities that regular these gambling establishments.
BGC Advocates for Tiered Levy System to Protect Land-Based Operators
It isn’t often we see the Betting and Gaming Council (BGC) agree with new gambling rules put in place in the UK. And that’s not because the BGC is trying to be awkward, it is because of the influx of headlines covering ridiculous suggestions by UK ministers, and I am not referring to only UK gambling. The incompetence is across the board. However, it does seem that the government’s bigwigs have thought things through when it comes to land-based casinos addressing problem gambling.
In a recent statement on its website, the BGC has publicly voiced its support for a mandatory levy for funding research, education, and treatment services to address gambling-related harm. Although, the amount being asked by the government seems a little greedy to say the least. Especially in times in which all retail businesses need to recover from the pandemic.
The BGC is against the UK government’s proposed 1% blanket fee and is instead urging the adoption of a tiered system to protect struggling land-based operators. BGC CEO Michael Dugher emphasizes the importance of avoiding additional taxes that may cause job losses or business closures, while also supporting the Gambling White Paper for raising industry standards and promoting growth.
The BGC has issued regular warnings about restrictions. Recently the BGC issued warnings that if the white paper is too restrictive, it will fuel the UK online gambling black market.
Main BGC Points
- BGC supports the mandatory tiered levy
- Criticizes UK’s proposed 1% blanket fee
- Land-based operators face profit impact
- Sliding scale suggested for contributions
- Gambling White Paper backed for growth
UKGC Fines Kindred Subsidiaries Over Gambling Failures
The UK Gambling Commission has fined Kindred Group’s 32Red and Platinum Gaming £7.1 million ($8.7 million) for failures in social responsibility and anti-money laundering. 32Red will pay £4.2 million in fines, while Platinum Gaming is in for £2.9 million.
The fines come after an investigation revealed shortcomings in identifying and protecting problem gamblers, as well as inadequate AML measures.
For instance, a member of 32Red Casino deposited £43,000 and over the course of a week lost £36,000. The UKGC frowns upon such losses. Under the framework, online casinos must identify losses of any magnitude and have a system in place to either check the player can afford to lose this amount or suspend the account from placing further bets.
Another issue spotted by the UKGC was the limit set to signal an AML check is required. 32Red’s limits were set too high. Also, player deposits coming via financial instruments regulated under the Financial Conduct Authority (FCA) were not checked. However, the operator should have carried out AML checks.
The Kindred Group has acknowledged the issues and is committed to improving its operations to ensure customer safety.
Quite No effect on share prices: The fines had no effect on the Kindred Group’s share prices which in fact rose from 110.95 SEK on the day of the UKGC announcement to fine the firm to a market open of 112.45 SEK the next day.
Summary of Kindred UKGC Fines
- Kindred’s 32Red, Platinum Gaming fined £7.1M
- Social responsibility & AML failures cited
- Both brands receive official warnings
- 32Red will pay £4.2 million
- Platinum Gaming will pay £2.9 million.
- Kindred acknowledged it needs to improve
- Fines did not affect share prices
TGP Europe Fined for Gambling Compliance Failures
The UK Gambling Commission (UKGC) has fined TGP Europe £316,250 ($394,079) and issued an official warning after investigations revealed social responsibility and anti-money laundering failures. The operator, which runs 19 websites, will also have conditions added to its license. Some of the issues included alerts being hit to follow up with responsible gambling checks, but the company failed to act with a personal response and instead relied upon automation. On top of this, it appears from the UKGC report that there were no checks in place to verify the authenticity of documents provided or to adequately check large transactions as part of the required AML checks.
TGP Europe cooperated with the investigation and has taken corrective measures to ensure that it meets all requirements under the UKGC framework.
Summary of TPG UKGC Fines
- TGP Europe fined £316,250 by UKGC
- Social responsibility, AML failures found
- Operator receives official warning
- License conditions added, corrective measures taken
Betknowmore UK Joins National Gambling Support Network
Betknowmore UK has joined the National Gambling Support Network (NGSN), commissioned by GambleAware to focus on early intervention for gambling harm. The charity’s services, Peer Aid, New Beginnings, and GOALS, will roll out nationally with a regional-first approach. GambleAware will double NGSN funding over the next year to improve referral routes and prevent escalation of gambling harms.
The UK is considered one of the safest online gambling markets in Europe. All the platforms and brands listed on our UK casinos list are trustworthy establishments with fully integrated responsible gamble tools. You can set your deposit, bet, or loss limits. Plus, you can take advantage of tools such the reality check that helps you track your sessions in real time.
Getting Help: Another advantage to playing at UK casinos is the many number of ways to get help in case you feel there you may be developing a gambling problem thanks to organisations such as the National Gambling Support Network (NGSN), GambleAware, and GamStop.
NGNS & Betknowmore Venture
- Betknowmore UK joins NGSN
- GambleAware commissions network
- Focus on early intervention
- Regional-first support approach
- Funding doubled over next year
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