The UK Gambling Commission (UKGC) has issued strict reminders to all licensed gambling and betting operators and asked them to make sure that consumers are not unnecessarily disadvantaged if the company decides to leave the market voluntarily or involuntarily.
In its statement the gambling regulator said that “one of the principles of our regulation is that gambling should be fair and open.”
“We expect license holders to: conduct their business with integrity; maintain adequate financial resources and have due regard to the interests of consumers and treat them fairly,” it added.
The regulator stated: “We are aware that, from time to time, gambling businesses leave the British market. This may be for a variety of reasons, ranging from insolvency to personal retirement. We are aware that businesses have been taking a variety of approaches to deal with their consumers in these situations, and we want to make our expectations clear.”
The UKGC also said that should a business decision to close it should:
– Provide clear and concise information to consumers.
– Show they are in control of the situation by keeping consumers updated and giving information on any potential routes for redress.
– Communication should include all available means including direct contact and wider messages on social media.
– Discharge all their liabilities to their consumers whenever possible.