The Online Casino Market in The UK
Often considered the largest in the world, the UK online casino market has more than its size on offer. Bringing in record numbers of players and profits over the past couple of years. Although this is no different to any previous year, the previous year was like no other. With the world going into lockdown, people had to find new forms of entertainment. As a result, the UK market saw a huge boost in the numbers of players. Further proving and enforcing the role the UK gambling industry has around the globe. Setting standards in safety regulations and player protection.
So why is the UK online casino market regarded as the safest online? Having a government-run regulatory body is the first factor. This means that every casino or betting service follows some kind of rules. With many of the rules only there to protect players, it gives a sense of security to online players. Other ways that the market is kept safe are the payment methods. Therefore, with many of the payment methods being used throughout many other industries throughout the UK, they are regarded as safe. With these 2 combined factors, they lead to a sector of entertainment that is one of the safest to play at.
New online casinos are seen as some of the safest. Because they have to fill the requirement before being given a licence, they do not try and get around it. A great example of a safe online casino in the UK is Casimboo Casino. Although they have not been in the business for long, they are creating a name for themselves by having a trust ethos to their brand.
The Relationship Between an Online Casino and The Regulator
The duty to keep the online market safe falls down to a partnership. This partnership is between the online casino and the regulator. For the UK market, the regulator is the Gambling Commission. They are an independent government-run organisation that not only makes the rules the casinos must follow but enforces them as well. As a result, the regulations they put in place are laws that the casino must follow. You may be asking why there is a need for rules? However, we have all heard the horror stories of poorly behaving online casinos. Therefore, rules are there to keep not only the players, but the public and even the casino safe.
This all sounds great, however, the Gambling Commission has an enforcement side. If their rules aren’t followed, it is their job to investigate. Leaving no stone unturned, they’re a pillar of the casino industry and will always get to the problem. It is also worth mentioning when they are involved, their word is final. If they give a ruling on a subject, it must be followed. The result of the investigation is also like this and is a final decision. They will issue a fine to the casino that has been found failing the regulations.
However, the fines that are issued aren’t light, with many leading into the multi-million. Although there is the threat of a hefty fine, some online casinos still try their best to get around the rules as much as possible. This is why there is a constant need for the industry to be regulated.
What Happens When a Casino Goes Rogue?
There are many rules and regulation in place to keep players safe while playing at an online casino. Some instances slip through the nets. Reports have recently shown one instance of this and the perpetrators were the well known Betfred casino. Although they have a huge reputation within the UK, stories like this have a major impact on the industry. This story is the kind of news that really gives the online casino market a bad view, especially when it is such a trusted name disregarding the rules. This story went a step further than the Gambling Commission and ended up in the UK High Court.
In 2018 a UK player won over £1.7m, with Betfred congratulation him on the win. With the funds confirmed in his account, the player contacted his bank to get a £2,500 overdraft to celebrate with his family. Days later when contacting Betfred to make the life-changing withdrawal, he was further congratulated on being a millionaire by the casino. However, this was to be the end of the joys for this player. He stated that he then received a phonecall from the CEO of the company telling him he would not be receiving his money. As a result, stating that the game was glitched and had paid him wrongly. Feeling his dream being snatched away from him, he refused a £60,ooo ‘goodwill’ gesture.
What happened next?
With the player feeling he had been treated wrongly by the online casino giant, he decided to take action and sue the company. This has been done before by many people but has failed. As a result, it has become the fact that the small guy doesn’t win. However, this time is different. Having put in a claim for over £2m, which also includes the interest the money would have gained among other things. He also mentioned how his health suffered during the time, quoting that he wishes he had not won at all. With the online casino adamant that he was not entitled to the funds, it seemed like the beginning of a war.
However, setting a precedent for the industry, the player won the case. The judge at the could claimed that even though their terms and conditions included the glitching of games, they were not fair. Also stating that the terms they were trying to deny payment with had no relation to the case at all. This dealt a heavy blow to the firm and will severely harm their respect and integrity within the market. Meaning the player was awarded the £2m sum after the case. With the player saying that the champagne ordered can finally come off the ice.