UKGC Announce Strategic Plan to Create a Responsible Gaming Industry
The United Kingdom Gambling Commission (UKGC), the gaming regulator, has introduced a corporate strategy for the proposed changes to the UK Gambling Act.
LISTEN TO THIS ARTICLE:The strategy is to create high standards in gaming regulation and is a three-year plan until 2027 that follows the White Paper consultation period with many stakeholders in the gaming industry.
The statement says the UKGC will focus on key areas in the gambling industry, and future regulations will be based on data-driven, evidence-based results collected from stakeholders in the gaming industry.
Additionally, the statement indicated there would be forthcoming regulation relating to the National Lottery in the UK and the intention of all stakeholders in the gaming industry to collaborate to combat illegal gambling in the region.
Our new three-year strategy ‘Gambling regulation in a digital age’ sets out how we will deliver the reforms set out in the Government’s gambling white paper, and successfully regulate the National Lottery under a new licensee. I want a fair, safe, and crime-free gambling market where consumers and the interests of the wider public are protected. This strategy will improve gambling regulation and move us closer to that vision.
Key Areas in the New Strategy
The UKGC has outlined several core areas that will be covered in its three-year strategic plan for gambling reform in the UK. These areas include the use of analytics and data in the gaming industry to create more effective regulations. The regulator says results from these analytics will allow for a framework of rules for licensees that is evidence-based.
The regulator says it wants to address any issues that may arise at an early stage and take a more proactive role in potential problems in the industry.
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UKGC Wants Data Driven Regulation
The UKGC has signaled that it would like to use data and analytics to monitor the effectiveness of regulations that it proposes to introduce in gambling reforms.
Many stakeholders in the gaming industry have been critical of the proposed changes to the Gambling Act, saying that new regulations such as financial checks are intrusive and potentially catastrophic to the gambling industry. It is felt some of the proposals are draconian and there is no real evidence they will be successful in reducing gambling harm in the industry.
By using data-driven regulation the UKGC says it will be able to monitor how effective its range of changes to gambling law are and amend gaming legislation accordingly.
We are also setting out an ambitious program to enhance the effectiveness of our regulation. A new data innovation hub will foster the smarter use of data. We will increase the transparency of our work to raise standards in the gambling industry, and we will be creative in disrupting those who seek to operate illegally.
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