UKGC Unveils Changes to Deposit Limits, Fund Protection Transparency

The UK Gambling Commission (UKGC) has confirmed new changes to deposit limits and player fund protection. The changes align with the 2023 white paper measures seeking to reform British gaming for the digital age.

Players Will Have More Control over Their Limits

According to the announcement, the new rules will provide players with more freedom over their deposit limits. The changes will create more effective ways to set such limits and protect themselves from overspending.

Set to take effect on October 31, the changes will require operators to prompt consumers to set limits before their first deposit. In addition to that, operators must make it so that players can easily modify their limit afterwards.

The rules mirror practices that are already offered by some operators and applies them to all of British gaming.

In addition to that, operators will be required to notify players to review their account and transaction information every six months, helping them review their limits.

Finally, operators will have to make setting up limits clear and intuitive so that players can easily set them and review them whenever they wish. This comes as response to reports claiming that certain companies’ deposit limit systems are convoluted and unclear.

Operators Will Have to Maintain Fund Protection Transparency

In the meantime, operators will be required to take better player fund protection measures. For example, they will have to clarify the terms and conditions for holding player money. Additionally, operators will have to clarify whether and how this money would be protected in case of insolvency.

All of this information should be communicated during a player’s initial deposit. Levels of protection include the following:

Not protected – no segregation

Not protected – segregation of customer funds

Medium Protection

High protection

Operators in the first two categories should notify customers every six months that their funds are not protected.

UKGC Warns of the Statutory Levy’s Arrival

Last but not least, the UKGC said that changes related to the introduction of the new statutory levy are coming. The LCCP currently requires operators to make voluntary donations to a list of research, prevention and treatment organizations.

However, this system is set to be replaced once the statutory levy comes into force. The change is expected to be enacted in April. The UKGC promised to inform licensees of the exact date once it has been set.

Tim Miller Said the UKGC Wishes for a Fair Gaming Market

Tim Miller, the UKGC’s executive director for research and policy, noted that the changes highlight the commission’s commitment to ensuring gambling is fair and customer-friendly.

These changes will help consumers decide on deposit limits, enable them to keep track of their spending and ensure they are fully aware of what happens to their funds should an operator become insolvent.

Tim Miller, exec director for research and policy, UKGC

Miller added that his team will now resume its work on other white paper commitments.