The adjustments of regulatory policy are targeting remote gambling sites, which provide their services through mobile casinos and online betting. The Exchequer is targeting the remote gambling operators because of how popular they are and their alarmingly increased usage of free bonuses to obtain the maximum out of the market.
Sign Up Promotion Bonus Regulation Changes
The other change that has had a tremendous effect in the gambling industry at large is the regulatory updates on the signup promotions imposed by the CMA. Following a probe by the CMA back in , the body discovered that most casinos and bookmakers in the UK offer unfair signup promotions and bonuses which entice new players.
The CMA further established that these bonuses and promotions lacked clear terms and conditions which leads to users’ confusion. Players end up joining the promotions they don’t fully understand. These unclear and confusing terms trick the players into making less informed decisions which they end up regretting later.
- Clearly outline the terms and conditions of any promotion or free spin, any casino bonus or free bet, or any mobile casino bonus afforded to the users. Vague or unclear terms will attract punitive action from the UKGC.
- Casinos and gambling companies must not oblige users to participate in publicity stunts aimed at promoting the services of the bookmakers or casino sites for them in order to draw
out the winnings earned from wagering bonuses and promotion freebies. - UK online casinos have to clearly state the restrictions and limitations of different free bonuses and bets given to the users. Casino companies should not withhold any gambler’s money based on the vague terms, requirements or conditions attached to the bonuses awarded to them.
All casinos operating in the UK are expected to fall along with this new set of regulations lest they face disciplinary action from the United Kingdom Gambling Commission.
So, what do these regulations mean for the casinos and players and what are the consequences of new rules for both? Here are reviews of the implications of the new rules and regulations and how they are shaping up the future of the UK casino industry.
Casino Operators
All the introduced rules and regulations have telling effects on the activity of casino companies in the UK. The new laws on taxation of casino bonuses, in particular, have obliged casino operators to change their strategies a little.
Gambling companies have been forced to reduce their paigns and promotions to cut the tax burden imposed by the new law. Casinos no longer spend lots of money advertising the free exclusive bonus offers and free bets which were the primary tool of attracting new customers. With a downturn in the promoting efforts comes a decreased flow of new users and consequently lower revenues.
According to the owners of casino websites, this move hinders the expansion of gambling as a whole market. The increasing tax burden on the casinos means stagnation of the businesses as they explore new ways to offset it.
In terms of the regulatory changes pertaining to the conditions and terms of promotions, casinos have started reviewing their previous terms and coming up with new, clearer and definitive conditions for their offers and promotions to make them comprehensible for users.
Players
UK casino players can smile because the amendments to the regulatory system contribute to their safe playing process. The regulations will help to improve their experience in online or mobile casinos operating in the UK regions. British casinos now start to clearly state the conditions of the bonuses and their terms to assure the players are fully aware of what they are doing beforehand. The casino bonus offers will have clear instructions and players can, therefore, make the most out of them.