The Future of the UK Online Gambling Industry
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The UK gambling market is valued at around £14.4 billion per year. Many casino operators are looking to penetrate the market. The Gambling Commission has introduced new rules and regulations to protect the safety and integrity of both the players and the casinos.
The UK gambling market is valued at around £14.4 billion per year. The Gambling Commission has introduced new rules and regulations to protect the safety and integrity of both the players and the casinos.
The United Kingdom Gambling Commission (UKGC) oversees any kind of regulation of legitimate gambling institutions in Great Britain. The commission was established in 2005 as a response to evolving trends in the industry and the boom of the gambling tourism market. It's known to have some of highest standards and requirements. Any failure on the part of an operator to fulfill these standards or submit to these rules could result in hefty fines or them losing the license altogether.
The UK Gambling Commission is taking a closer look into its system and policies to cater to the growing online gambling market. In 2019, the commission took steps to implement stricter age verification for online casinos. The ban on the use of credit cards as a form of payment for deposits was put in place as response to gambling addiction problems around the region.
The UKGC is unlikely to take a more lenient approach in terms of its conduct and regulatory service in the future. There are speculations that betting restrictions might be imposed on certain casino games. Many operators have already been forced to pay significant fines for failing to meet the standards and regulations that have been imposed by the UK GC. However, the market is rife for growth and many investors are eager to penetrate the potential of the online gambling industry.
