Gambling Industry in the UK Under Scrutiny by House of Lords

Home » Gambling Industry in the UK Under Scrutiny by House of Lords

A special committee has been selected by the British House of Lords for a hearing with the UK Gambling Commission (UKGC). The goal is to assess the social and economic impact of the sector on the country.

Two member of the commission are appearing, UKGC Chief Executive Neil McArthur and Chairman Dr. Bill Moyes who will speak on how the regulatory body controls the local gambling industry.

The investigation is expected to last for a year at least until reliable facts are gained. The UKGC may be asked to implement a better framework and oversight.

Of particular concern in the direct relationship between the regulatory body and gambling executives. The UKGC has been receiving criticism about a potential conflict of interest from the All-Party Parliamentary Group (APPG).

A finger has been pointed at allowing GVC Holdings to take the lead in the development of a code of conduct for industry player rewards. The APPG is pushing lawmakers to ensure that the UKGC doesn’t permit operators to govern themselves. It is much like a fox guarding the hen house.

Of further interest is the question of how the agency is keeping up on technology trends, consumer habits, and the changing products and services offered by the industry.

These hearings have been conducted previously. In fact, a week ago, the top five betting operators in the United Kingdom ( bet365, Flutter Plc, GVC Holdings, Sky Bet, and William Hill) appeared before the committee to testify on the unequivocal collaboration between the gambling industry and the regulatory authorities.

The committee found benefits in such a collaboration but needs to ensure that consumers are being protected.

Source: https://calvinayre.com/2020/02/11/business/uk-house-of-lords-to-question-ukgc-gambling-industry/

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