Niall Guinness’ Post

Are the Government and the Gambling Commission really singing from the same hymn sheet when it comes to affordability? I think there's a subtle, but important, difference in the way they are both speaking about the importance of incoming affordability checks being 'frictionless'. The Government still seems to be clear that checks will not be implemented until they are 'genuinely frictionless', whilst the Gambling Commission's rhetoric has shifted every so slightly to state that they must be 'frictionless for the vast majority of customers who undergo them' - same, same but....different? I'm looking forward to hearing more about the pilot scheme, but perhaps the Gambling Commission has realised that a truly frictionless solution might be truly fiction? Stuart Andrew at the BGC AGM event yesterday - "I have been clear that these checks should be genuinely frictionless - one of my first discussions with officials on taking on the gambling brief was around how we would deliver this - and the White Paper was clear that they will not be implemented until we can guarantee that they are." Tim Miller in his recent blog post - "We have been working closely with the Department for Culture, Media and Sport (DCMS) to ensure that the next steps closely reflect the intention of the White Paper. That is, that the process of conducting these checks will be frictionless for the vast majority of customers who undergo them." #Gamblingnews #gamblingindustry #twobirds

🇬🇧 It's a landmark day for the implementation of the UK's white paper on gambling reform, with the government confirming the introduction of online slot stake limits. - https://lnkd.in/eT9EKW94 🎰 Set to be rolled out in September, operators will be given a six-week transition period to ensure compliance with the £5 limit for players aged 25 and over, and the £2 limit for 18-24s. Elsewhere, the Gambling Commission has teed up Monday's formal parliamentary debate on financial risk checks by confirming a four-to-six-month pilot of enhanced checks, comprising a "selection of operators” and a “spread of different businesses" of varying sizes. Also on Friday's InterGaming and iNTERGAMINGi magazines newsletter: 🍒 - Stakelogic launches second live jackpot 🇺🇸 - Bragg takes its content live in Michigan with Golden Nugget 📊 - VICI Properties Inc.' revenue hits US$3.6bn ⚖ - Kansspelautoriteit's crackdown on Dutch unlicensed activity

The odds are slim that you’ll be waiting with bated breath today for news from a Westminster Media Forum, but if you work with gambling brands, there’s a lot at stake. There are some phenomenal statistics related to the gambling industry, but the most telling one is that since the inception of the National Lottery, almost half of all adults now gamble once a month. And yet, the Lottery isn’t officially considered gambling, doesn’t come under the jurisdiction of the Gambling Commission, and will get little or no attention in today’s discussions. If they come into play, then last years’ proposals of a statutory levy and a gambling ombudsman may mean the sector has to adapt an awful lot, but it’s a safe bet to say it’ll all mean little to the Lotto. https://lnkd.in/gADP6rfs

UK update The second phase of consultations on UK gambling regulations is set to span 12 weeks, concluding on February 21, 2024. This round will focus on five key topics, including socially responsible incentives, customer-specific tools, transparency of customer funds, annual contributions to Research, Prevention and Treatment (RET), and regulatory data. Tim Miller, the Executive Director of Research and Policy at the Commission, emphasized the government's commitment to ensuring safe gambling. The consultations invite public input to shape regulations across the country. The initial white paper identified 60 areas for the Commission to explore, leading to the first round of consultations from July to October. The topics included financial risk, online games design, direct marketing, and age-verification. The contentious issue of financial risk checks, also known as affordability checks, garnered significant industry debate. A separate consultation will address financial penalties and financial event key reporting, aiming to set penalties at a level where non-compliance costs outweigh compliance costs. The Commission's enforcement activity has increased in recent years, and proposed changes in penalty calculation reflect a focus on a risk-based regulatory approach. Notably, a petition opposing affordability checks, initiated by Nevin Truesdale, CEO of The Jockey Club, has surpassed 100,000 signatures, triggering consideration for a parliamentary debate. This underscores the ongoing public and industry engagement in shaping the evolving landscape of gambling regulations in the UK. Contact us on [email protected] to ensure proper compliance for your UK operations. #uk #onlinecasino #gambling #compliance

🇦🇺 Australia's financial crimes watchdog, AUSTRAC , has initiated an investigation into the UK-based #onlinegambling company Bet365 for potential non-compliance with #antimoneylaundering and #counterterrorismfinancing laws. This follows an external #audit ordered by Austrac in 2022. Bet365 has yet to respond to a request for comment from the #BBC. The online #gamblingsector has been under increased scrutiny after experiencing a surge in activity during the pandemic. #Austrac, which investigates banks, #casinos, and #betting firms to ensure they have strong #compliance systems to prevent profiting from #criminalactivities, has also probed Entain, the owner of Ladbrokes, and requested an external audit of another competitor, Sportsbet. Australian regulations require companies to monitor customers' financial #transactions to detect, prevent, and manage the risk of involvement in #moneylaundering or #terroristfinancing, with penalties for those found to have inadequate #compliancesystems. Additionally, the online betting industry faces new legal challenges, including laws prohibiting the use of #creditcards for online gambling and stricter federal regulations on advertising. Last year, Bet365 reported a significant loss, but its CEO Denise Coates received a salary of approximately £221 million, bringing her total compensation over the past four years to over £1 billion. https://lnkd.in/dViK2Bv7

In my own personal opinion - and it is strictly that - it is vitally important that this petition is signed by anyone who believes in economic liberty, freedom & the ability for individuals to spend their money how they so wish - and that's without mentioning the hard working people who live from, and work in, the wider gambling industry, and the mass-contributions that regulated gambling brings to the state as a whole. The enforcement of strict, draconian measures regards spending will have catastrophic effects for the industry, and will lead to a mass-exodus of life-long punters from the orbit of regulated gambling. According to an article on today's Racing Post, "the proposed checks could see bettors having to prove they can afford their hobby if they sustain losses as low as £1.37 per day". This is completely mindless, and these very people these measures aim to help will be thrust in to the dark world of unregulated gambling ('the black market') where they will have zero protection from unchecked & unhinged predatory practices, which are currently rampant in the 'underworld'. Policy makers & decision-makers alike may start to take more interest in this when government coffers from legal, regulated gambling become noticeably weaker as a result of a reduction in betting turnover which will naturally result in a big fall in the levy field. Let's be clear: gambling laws need to be updated to reflect the digital age, but they do not need to go excessively 'over the top' and infringe on the personal freedom of those millions who gamble responsibly every year, and the tens of thousands who's bread & butter depend directly, and indirectly, on horseracing/regulated gambling in general. Horse racing contributes over £4billion to the UK economy each year, and these affordability checks have the ability to threaten many a livelihood. Policy on these delicate but vital issues should be developed & implemented by experts of their field & those who live this world daily, not by puritanical, moralistic desires from those watching from a distance. This issue merits much closer inspection but these are my views in a minor nutshell. Articles of interest: https://lnkd.in/eKhHbwDj https://lnkd.in/eFM7eu5A https://lnkd.in/ebK4wmts https://lnkd.in/e6KtUkBA #affordabilitychecks #gambling #sportsbetting #liberty #markets #gamblingcomission #sports #horseracing #levy #taxes #economics

The number of people being investigated by the Gambling Commission for potential ‘cheating’ when placing bets on the timing of the General Election appears to be growing. Unsurprisingly it’s been mentioned a lot in the last few days that a person commits an offence under s.42 of the Gambling Act 2005 if they ‘cheat’ at gambling. Relevant case law and the Commission seem to place weight on the use of ‘inside information’ to gain an ‘unfair advantage’. Leaving aside potential criminal sanction, what else follows? Will this affect the future of 'specials' markets? Will this add to the current review of the gambling market in the UK? Will operators be checking their terms and conditions and ensuring they can void the bets or possibly even rely on an indemnity? Will the Commission void the bets because they are ‘substantially unfair' (s.336)? Will there be other punters being investigated for the same bets? All very interesting…. (to me, anyway!) As a final point - credit to the operators involved for picking this up! Clearly their checks work.

Problem gambling is an issue and we all want to do what we can to protect and support individuals who need that. Current (well-intentioned) proposals to address this however have the potential to significantly damage #horseracing and significantly impact the freedom of individuals who enjoy a bet on the races as a leisure pursuit. Whilst the government hopes that these "affordability checks" can take place in the background (similar to credit checks when you apply for a loan or bank account), punters (including me!) are already being asked to provide bank statements and financial documents to their bookmaker before they are allowed to place further bets. This is the equivalent of going to the pub and being asked to show your bank balance to the barman before he will agree to sell you a drink. Aside from being massively intrusive, this is already causing people to "walk away" rather than comply and I personally am not using my account where such information has been requested. Horse Racing and betting are closely linked with revenues from bookmakers helping to fund prizemoney, so these changes could really damage the sport and all who work in racing. There are other mechanisms that can identify problem gamblers such as checking changes in betting patterns, chasing losses or increasing stakes and these could be implemented without affecting "normal" punters. The industry has launched a petition to protest against this and the more e-signatures that are received the better. 100,000 signatures trigger a parliamentary debate. It takes seconds to sign and the link is below. Please spare a few seconds to support this.

The close of February sees the Gambling Review reach a definitive stage, as 'The Guardian understands' that on Friday the government will announce new online slot stake limits of £5 and a £2 cap for under-25s. The industry will be tuned in to Parliament's debate responding to UK racing's petition to abandon financial risk checks as proposed by the White Paper – deemed not feasible for recreational punters. Ahead of the debate, GambleAware publishes independent data stating that 60% of UK adults support risk checks as a preventative measure to reduce exposure to gambling harms. The UK Gambling Commission stands by its White Paper consultations on key disciplines, with no intention of revisiting or reopening debates on the regulatory future of UK gambling. https://lnkd.in/daRhd6SS

💰 Inconsistency Costs Money! UK regulators are waking up to the financial hit from unreliable data. 📉 Unregulated sports stats are draining cash from sportsbooks and bettors every year. As global gambling regulations tighten, this issue is set to escalate. The era of setting lines on a 'gut feeling' is over. Now, objective, reliable stats are king! 📊⚽️🏀 Curious how this affects you? Find out more: https://buff.ly/3zGXQzY 🌐 #SportsTech #CombatIQ #SportsBetting #GameChanger #Regulation #UK