Gambling firms Now Exposed over Consumer Welfare Attitude

The Gambling Commission of the UK is working hard to enhance safer and fairer gambling in the industry, in a bid to improve consumer protection.

 

The Gambling Commission Chief Executive has insisted that they are focusing on making gambling much safer and fairer to all clients. He also goes further to say that the business of gambling should collaborate and invest an equal amount of resources into data, research, and technology to enhance and solidify the protection of their client. This should be given priority just as this company do to create new products, marketing campaigns, and advertising.

 

Leaders of gambling companies, have been called into action to set the tone and lead in a culture of following the rules for compliance and putting the welfare of the customers first. They should strive in continuously raising the standards for the benefits of their clients.

 

The gambling firms which fail to comply with the rules risk of being exposed to various sanctions. That includes, hefty fines or eventual withdrawal of their operating licenses indefinitely or for a fixed period of time. For instance, the Gambling company 32Red faced a fine of £2 million for failing to provide protection to a problem gambler. Another gambling firm known as William Hill received a penalty of £6.2 million for breaching the social responsibility and anti-money laundering regulations.

 

The gambling commission is keen on tackling the issue of firms having the ability to spot betting patterns which seem unusual, which could likely be caused by people getting into financial hardships through betting. It could also be as a result of money laundering. The chief executive says that betting firms need to know their customers in such a way that they can know how capable they are to afford the money being used. The companies need to use all the data they have to get to understand their customers well at an early stage. This is to enhance controlling the amount a certain customer can bet with by imposing limits.

 

Child protection has been the main issue of focus on tackling the gambling problems. The Advertising Standards Authority (ASA) is also part of this revolutionary strategy. It has recently banned some online slot adverts as they looked appealing to younger children. This included some coral gambling adverts which featured animated images such as the leprechaun that particularly showed a high appeal to the teenagers.

 

The Gambling Commission assumes that, total responsibility has been taken by the Advertising Standards Authority to discipline those who breach the rules of targeting vulnerable customers. Educating the public is an initiative that has been taken seriously by the Gambling Commission. Gamble Aware which is a charity in the industry, orders to provide treatment to the people who have already been affected, as well as do an extra thorough investigation into matters pertaining gambling problems.