Quarterly Reporting Now Required by the UK Gambling Commission

The gambling regulator in the UK, the Gambling Commission (GC), announced the launch of a consultation on the Frequency of regulatory returns back in March this year. At the time, the regulator sought to implement changes to the gambling licensees’ conditions related to reporting, effectively proposing a new regime.

Following the consultation, near the end of May, the GC published detailed information about the upcoming changes to regulatory returns reports by gambling suppliers. The new rules, the watchdog confirmed, were scheduled to come into effect as of July 1, 2024.

The gambling regulator acknowledged the importance of regulatory submissions by licensed operators in the country. It said that such reports help deliver insights about the current condition, shape and size of the gambling sector in the country, among other benefits.

“Regulatory return submissions from gambling licensees are a vital source of information, providing an understanding of the size and shape of the gambling market in Great Britain as well as other key regulatory information,“

reads a statement released by the UK Gambling Commission

The aforementioned changes affect license condition 15.3.1 within the General and regulatory returns of the License Conditions and Code of Practice (LCCP). As of July 1, 2024, it is mandatory for gambling operators to submit their regulatory returns quarterly.

The gambling watchdog disclosed details regarding the reporting periods pointing that they will be “harmonized.” As a result, providers of gambling services will file reports outlining their returns for the following periods:

April 1 through June 30
July 1 through September 30
October 1 through December 31
January 1 through March 31

Besides the change to the reporting periods, the GC confirmed the removal of provisions related to the questions required for the regulatory return reports.

The change comes at a time when major sporting events are expected to propel the UK gambling sector. Considering the coinciding Royal Ascot and Euro 2024, betting providers in the country are expected to record exceptional growth.