UKGC further empowers consumers with deposit limit rules

The UK Gambling Commission has been keen on passing comprehensive measures that seek to enhance regulatory responsibility and oversight towards players. Part of this ambitious undertaking is the introduction of deposit limits that help minimize harm and the instances of gambling-related harm in the first place.

UKGC wants customers to better understand financial limits

A quick set of new rules was confirmed on Tuesday, February 4, and the changes apply to the UKGC’s License Conditions and Codes of Practice, which will help pave the way for the planned statutory levy, as a direct result of the 2023 White Paper that set out to overhaul the industry’s regulation with consumer safety in mind.

UKGC Executive Director Tim Miller has welcomed the new rules outlined by the regulator in its latest blog update, and said:

"These changes will help consumers decide on deposit limits, enable them to keep track of their spending and ensure they are fully aware of what happens to their funds should an operator become insolvent."

According to the watchdog, the new rules are crafted to give customers the best opportunity to set and maintain responsible betting limits that further help them not slip into bad practices. Starting from October31, 2025, all licensees would be obligated by law to prompt customers to set financial limits before they even make their first deposit.

Many companies have already implemented the feature, keen to get a head start and ensure that they test retention strategies as these types of checks will add an additional layer of friction to the onboarding process, companies have been known to argue.

However, this is not all. Companies will have a legal obligation to remind their customers every six months to further review their accounts and prompt them to make changes to their financial restrictions if they feel the need to.

The idea is that a better look at people’s spending habits on gambling could lead to more balanced play.

Operators are obligated to let customers know about fund protection

The regulator is also expecting operators to be upfront about business. For example, under pending changes, come October 31, 2025, operators will have to remind their customers every six months if their funds are not protected.

By this, the regulator means that if an operator – in the case of insolvency – is not able to pay out outstanding balances, they would have to tell customers. Operators must do so once every six months in the very least.

The UKGC acknowledges that it’s the legal duty of every licensee to protect customer funds, but the change is meant to empower customers to make further decisions about where to play.

"We will now continue our work to deliver our remaining White Paper commitments, including our programme of evaluation," Miller concluded.

Image credit: Unsplash.com