Gambling Regulation in the UK
Gambling continued as a behemoth business in the UK with a revenue generation of over €14.3 billion in 2019, and celebrated ones remain to be lottery and bingo. The escalation of online gambling, which has reached the zenith owing to the pandemic, will aid in explosive growth by 2021, primarily by deploying mobile.
The UK government has a penchant for gambling because of the cosmic revenue it receives from the annual tax revenue of the gambling industry and the added incentive of an estimated 100,000 jobs to the economy. This endows gambling an enigmatic appeal in the glance of UK authorities.
Is Gambling Legal in the UK?
Gambling for real money is legal throughout the United Kingdom. This is made accessible at offline and online platforms. If you are above 18, you are bestowed with the option of placing a flutter on diverse subjects like the winner of a sports event, the sequel of the general election, or even the covert identity of the next successor to the queen of England.
How do People Place Bets in the UK?
The traditional brick-and-mortar casino can be approached in multifarious ways. The conventional casino facilities, high street bookmakers, bingo halls, and you can even place a wager at live sporting events. The numerous sports venues like horse tracks, football stadiums, and greyhound racing tracks with on-site wagering stalls.
Gamblers in the UK are also blessed with a plethora of gambling sites from the UK and overseas to select from. These sites allure you with their welcome bonuses. These online platforms shower you with video game versions of the mainstream games on a casino floor. They also provide you an added benefit of sports betting.
Who Regulates UK Gambling?
The UK Gambling Commission supervises all facets of the gambling industry. This body regulates the eight identified sectors of the UK that include arcades, casinos, bingo, gambling software, betting, lotteries, online gambling, and gaming machines.
They have an added responsibility for licensing and policing the gambling providers in the UK. This means that the GC ensures that the providers closely follow the legal guidelines at both offline and online casinos.
The UK Gambling Commission dawned in 2005 under the aegis of the UK Government’s Department for Culture, Media, and Sport, and this awakening was a sequel to the Gambling Act of 2005. The passing of this act symbolised a novel unfolding for gambling law in England, Wales, and Scotland.
How does GC Ensure Protection for Gamblers?
The casinos offering real money gambling to UK residents must mandatorily hold a valid license. This license is accorded after weighing the requisite funds, business requirements, and other conditions to be deemed a secure and trustworthy operator.
Once the license is issued, a review process is closely followed to ensure that the permit nurtures the requisites to provide safe gambling. Those who do not abide by these regulations are subjected to criminal prosecution, or their license will be revoked.