Gambling includes a category of games that involve real money. So needless to say, there is a financial risk associated with this industry. There are concerns over fair play as well as responsible gaming. Various gaming/gambling authorities in the UK have been established to take care of these risks.
List of Gambling Authorities in the UK
UK Gambling Commission
UK Gambling Commission came into being under the Gambling Act 2005. It assumed complete power in 2007. This institution serves as a governing body for all offline and online casinos. The website operators/owners and game developers fall under their scrutiny. They look into arcades, bingo games, betting, casinos, slot machines and lotteries.
The key responsibility of the UK Gambling Commission is to avoid any kind of financial scam in the online casino industry. Hence, they undertake the verification and validation of all new casino websites and apps. Their purpose is to ensure that gambling sites conduct the games in a fair and transparent manner. Websites are required to publish all terms upfront so that the users are completely aware of the risks involved. They ensure that no website entertains minors and that the website properly conducts verification of the player’s age. The gambling commission also issues licenses to casino operators and if any misconduct occurs on their part, huge fines are imposed. The penalty includes cancellation of the license in case of severe misconduct. They constantly monitor the websites and their activities to ensure nothing illegal happens. This agency only issues a license to those operators who have their main servers and systems located within the UK.
UK Gambling Commission also monitors the validity of licenses and checks if the casino owners are abiding by the rules and regulations set by the commission. Failure to do so attracts fines along with revoking of license for a certain period or permanently. They carry out investigations on all incidents or complaints that get registered by the public users/gamblers. So the agency works in the best interest of the people of the UK to ensure a safe gaming environment.
Gaming Control Board
One of the gambling authorities in the UK is the Gaming Control Board. This agency often referred to as GCB is a government body that takes care of gaming laws and regulations. They take care of licensing the games that the developers create and they review the content of the game before issuing an approval. This is to ensure that the games do not have any obscene or illegal content. They have complete authority for approving or denying a game.
Regulations as per the Gambling Act 2005
As per this regulation, the casino owners must ensure that their websites meet safety and security standards at all times. They are required to keep their websites updated with the latest security features. They need to ensure that all financial transactions are reported to the commission for review. They need to provide secure payment methods and adhere to rules and regulations set by financial institutions such as banks, credit card companies and payment gateways in U.K. Websites offering gambling and casino games must ensure that they comply with the taxation laws of UK. The systems need to be fair and transparent. Users should be provided with a complete guide on how payments and withdrawals work. Any additional charges or fees must be clearly communicated to the site or app users.
Financial Conduct Authority (FCA)
This is a financial regulatory body in the UK and comes under the purview of the Financial Services Act 2012. It monitors all organisations that conduct financial activities. The casino websites come under the purview of FCA. Any illegal transaction or activity is dealt with by this government agency. They ensure that all casino websites and companies offer genuine methods of carrying out financial transactions. They are involved in identifying financial frauds as well.
Gaming/gambling authorities in the UK were created to license and regulate the casino companies and their games. They ensure that all parties involved are dealt with fairly, using legitimate methods. So these agencies ensure that no malpractice or fraud occurs. It secures a safe gambling environment for players.