The UK Gambling Commission (UKGC) has released its new business plan for the year 2019-2020. The gambling authority has set consumer protection its top priority and the new plan pontificates on bringing in new and advanced measures to ensure consumer protection.
Introducing new regulatory measures is also included in the plan. The regulator aims at improving the state of gambling environment in the country by raising the bar for operators.
The plan is a manifestation of UKGC’s commitment towards consumer protection and creating a safe gambling environment in the country.
This year the regulatory body has been in action issuing warnings to operators violating the country’s existing gambling regulations and also imposing fines on those violating them.
Recently, it issued strict warnings to companies violating the new regulation which limits the maximum stakes on FOBTs to 2 GBP. The rule which came into effect on April 1 has fixed the maximum wager limit to 2 GBP from 100 GBP.
Following the strict warnings from UKGC two companies also pulled their products from the market fearing a regulatory action. Paddy Power Betfair and BetFred, two high streets bookmakers, decided to pull their products while the investigations were still ongoing.
Chief executive of the Gambling Commission, Neil McArthur, explained: “This business plan highlights the projects and milestones we will complete during 2019–2020 as we move into the second year of our Strategy 2018–2021. Our overriding objective is to make gambling fairer and safer for consumers, in what is a constantly developing market. I am proud of the progress we have made with our ambitious strategy. However, I am also clear that there is much more to do.”