Introduction: Implementing UK Gambling Commission’s Financial Risk Checks
The UK Gambling Commission’s Financial Risk Checks pilot, also known as the Gambling Affordability Checks, has taken a step closer to realisation with stipulated a timeline for implementation.
The UKGC latest Gambling White Paper has four initial proposals.
- Financial risk and vulnerability
- Online games design
- Improving consumer choice on direct marketing
- Strengthening age verification in land-based premises
These proposed changes are due to take effect in August 2024, November 2024, January 2025 and February 2025.
In addressing the pilot for financial risk checks, also known as affordability checks—one of the most contentious elements of the white paper—the Commission clarified that customers would remain unaffected by the trial. This pilot aims to fine-tune the data-sharing processes before these assessments are implemented in a live setting.
The pilot is expected to run for six months. After its conclusion, the Commission will determine whether to permanently implement the checks. However, they emphasized that permanent implementation would only occur once data-sharing processes are seamless for the majority of customers undergoing these checks.
In February, Tim Miller, executive director of the Commission, announced the imminent start of the pilot scheme for affordability checks.
“Light Touch” Financial Risk Checks
Today’s announcement by the Commission confirms the initiation of “light-touch” financial vulnerability checks, in conjunction with the financial risk assessment pilot. The regulator stated that the introduction of affordability checks aims to enable safe gambling practices and protect individuals from gambling-related harm.
The implementation of the so-called “light-touch” financial risk checks will occur in two stages.
1st Starting on 30 August 2024, will apply checks to customers with a net deposit of £500 per month on gambling.
2nd Beginning in February 2025, will lower this threshold to customers with a net deposit of £150 per month.
Andrew Rhodes, CEO of the Gambling Commission, explained that the pilot for affordability checks would help evaluate the impact of these proposals on the industry.
“We are also pleased to be advancing a pilot of financial risk assessments and data collection,” Rhodes added, “which will ensure we can make informed decisions about implementing these assessments in a way that balances consumer freedom and protections.”
Rhodes emphasized the need to balance protecting people from the potentially devastating effects of gambling-related harm with respecting the freedom of adults to gamble without experiencing harm.
Piloting Frictionless Financial Risk Assessments
In response to consultation feedback, the Commission will conduct a pilot for frictionless assessments. During a UK gambling policy debate last September, Rhodes highlighted that affordability checks were the most discussed issue in the consultation responses.
The pilot will operationalize the checks, collaborating with credit reference agencies and gambling companies to assess their impact. It will also evaluate the effects on customers. Data collected from the pilot will help the Commission identify the financial thresholds at which the checks should be applied.
The regulator stressed that the pilot would not occur in a live environment and clarified that neither the light-touch checks nor the financial risk assessment pilot would affect players’ credit ratings.
Other UK Gambling Commission articles;
Slot Stake Limits in UK Gambling
The Effects of Gambling on Minority Communities
UK Gambling Commission Launches Public Consultations of Gambling Regulation
UK Gambling Commission Reports Reduced Play Intensity to Online Slot
Commercial gaming regulator established in UAE
National Gambling Support Network
Key to Safer Gambling
BeGambleAware GamCare Gamblers Anonymous
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