The UK Gambling Commission (UKGC) has implemented new financial risk assessments aimed at protecting consumers engaged in high-stakes online gambling. These assessments will apply to individuals aged 25 and older who spend over $1,250 in a single calendar day, or more than $3,750 over a rolling 90-day period. For younger gamblers, under 25, the threshold is set lower, at $940.
The UKGC has clarified that these financial risk assessments, which utilize data from credit reference agencies, will not impact consumers' credit scores. It has been emphasized that these are not affordability checks, and their rollout will take place gradually, initially targeting customers who wager over $6,500 in a short span.
Acting Chief Executive Sarah Gardner expressed confidence that this approach would assist high-spending gamblers who may be facing financial troubles while easing the process for those who do not.
However, the Betting and Gaming Council (BGC) has voiced criticism regarding the new measures, raising concerns about the assessments' reliability and practical implementation. BGC Chief Executive Grainne Hurst stated that significant issues surrounding the consistency and accuracy of these checks still need to be resolved. She reiterated the industry's commitment to fair regulation that protects vulnerable individuals while also allowing the 22.5 million adults in Britain who place bets each month to do so in a safe manner. Until these checks can be proven to work without friction and reliably, the BGC maintains that there is a risk of pushing customers into the illegal gambling market.
