It’s really important to monitor the use of slot machines both in house and online, as well as the wellbeing of the people that use them. The UK has many ongoing practices put in place to safeguard against many different aspects of gambling and gaming, like fraud, addiction, and underage gambling. Otherwise, these UK casinos often end up paying.
Although every country has to implement its own regulations, the rules set down will vary depending on which country you’re in.
In the UK, The Gambling Act 2005 was passed in part to create the UK Gambling Commission, an independent regulator acting as a branch of the UK government.
This Act aimed to promote fair and safe gambling by protecting the underage and vulnerable, ensuring responsible advertising and practices and preventing the industry being used for criminal means.
Why it’s important to regulate gambling
When you register with an online casino, you have to entrust your money to the site when you deposit funds into your e-wallet. Millions of people all over the world transfer money across to gambling sites, but very few of them actually know much about the companies or people behind those sites.
This is just another reason why the UKGC exists. People have the right to know that they can deposit their money into online casino accounts, safe in the knowledge that they are dealing with reputable organisations.
It’s crucial for anyone registering with an online casino to make totally sure that the site is licenced by the UKGC.
Just one example why is that the UKGC will ensure that the site holds player funds in a separate account from their own operational funds. This is hugely important. If a casino go into administration or bankrupt, this would ensure players funds are still safe and would not be lost.
What is the UKGC and what do they stipulate?
The UKGC is a governmental body which is set up to ensure that digital sites abide by the rules and regulations set out in the 2005 Gambling Act.
This Governmental Act states its objectives as:
a. preventing gambling from being a source of crime or disorder, being associated with crime or disorder or being used to support crime,
b. ensuring that gambling is conducted in a fair and open way, and
c. protecting children and other vulnerable persons from being harmed or exploited by gambling.
Maintaining that all of these requisites are upheld is an ongoing role the UKGC must play, and some are saying that it’s time the 2005 Act was updated. Fifteen years is a long time regarding the digital evolution, and the UKGC has to keep up with the times.
Independent Betting Adjudication Service (IBAS)
Finally, it’s important to know that the UKGC won’t get involved in routine consumer complaints or money disputes. These will get passed to IBAS.
This organisation is approved to oversee and resolve disputes between individuals and online gambling companies. When you present a case to them, they will set up a panel to check that the company in question has adhered to their own terms and conditions, as well as the standards and regulations set out by IBAS and the UKGC.
IBAS has a limit of £10,000 when it comes to settling these disputes, anything over that may require a court of law to settle the disagreement.