The UK Gambling Commission is introducing new rules that will affect how players manage their deposits at online casinos. These changes are designed to make gambling safer and more transparent. Here’s everything you need to know:
Key Dates
- 31 October 2024: The new rules will come into effect.
- 6 April 2025: A new statutory levy (tax) on gambling operators will be introduced.
What’s Changing?
From 31 October 2024, gambling companies in the UK will be required to take several actions to protect players:
- Setting Deposit Limits
- Before you deposit: Gambling sites must ask you to set a deposit limit before making your first deposit.
- Easily Change Limits: You’ll also be able to adjust your deposit limit at any time, making it easier to control your spending.
- Regular Reminders
- Every six months, casinos will remind you to review your account and transaction information. This will help you decide if you want to adjust your deposit limits.
- Protection of Your Funds
- Gambling sites must clearly explain whether your funds are protected if the site goes bankrupt. They’ll have to state the level of protection, whether it’s high, medium, or low, or if your funds are not protected.
- For sites with no protection: They must remind you every six months that your funds are not safeguarded in case of insolvency.
Why Are These Changes Happening?
The new rules come after a review of the gambling industry. The goal is to give consumers more control over their gambling and ensure they know what happens to their money. These updates are part of a broader effort to make gambling safer and more transparent.
What About the Statutory Levy?
Starting in April 2025, gambling companies will have to pay a statutory levy. This will replace the current system where operators contribute annually to research, prevention, and treatment organizations. The levy aims to fund more effective ways of tackling gambling harm.
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