Gambling Commission Launches Three-Year Plan to Reduce Gambling Risks

The Gambling Commission hopes its three-year strategy will create a well-regulated market in which players can feel confident and protected.

The authority’s aim is to make gambling as fair and safe as it can be, and through research, insight and coursework, the Commission has identified five main objectives to reach its goal.

The first of these objectives is to protect children and vulnerable people, yet the Commission found that rates of problem gambling in this area are not reducing. It will set out to improve the standards of licence holders and improve policy.

Creating a fairer market and more informed customers was second, and data shows that people who feel gambling is fair has dropped from 49% in 2008 to 29% in 2020. The commission will ensure new products meet its standards and inform consumers accurately and easily.

It also wants to remove crime from gambling to maintain consumer trust. This will be achieved by tackling illegal providers, preventing money laundering and managing risks to betting integrity and event manipulation.

With The National Lottery licence up for grabs in 2023, the regulator also wants to transition the lottery smoothly and successfully. The fourth objective will focus on supporting the lottery through its licence change.

Lastly, improving gambling regulation is another priority for the Commission, especially with the Gambling Act being reviewed. It will support the government with advice on the review through data and insights but also evaluate its own work.

Currently the Department of Digital, Culture, Media and Sport (DCMS) is reviewing the UK Gambling Act. The Gambling Commission is aware the conclusion could be made during the lifespan of this strategy and are prepared for changes.

(Photo: Сeoto Day Magazine)

bitcoin
Bitcoin (BTC) $ 59,603.00 1.01%
ethereum
Ethereum (ETH) $ 2,136.75 1.28%
binance-coin
Binance Coin (BNB) $ 503.58 6.04%
xrp
XRP (XRP) $ 1.39 7.23%
tether
Tether (USDT) $ 0.999342 0.15%
cardano
Cardano (ADA) $ 1.27 4.85%
polkadot
Polkadot (DOT) $ 41.18 1.23%
litecoin
Litecoin (LTC) $ 248.46 1.06%
uniswap
Uniswap (UNI) $ 30.28 2.25%
chainlink
Chainlink (LINK) $ 33.70 7.00%
S&P 500  ^GSPC 
$4,128.80  $31.63  (0.77%)
Dow Jones Industrial Average  ^DJI 
$33,800.60  $297.00  (0.89%)
NASDAQ Composite  ^IXIC 
$13,900.19  $70.89  (0.51%)
Russell 2000  ^RUT 
$2,243.47  $0.8700  (0.04%)
Crude Oil May 21  F*CL.NYM 
$59.39  $0.0700  (0.12%)
   
$0.0000  $0.0000  (0.00%)