UK Gambling Commission Pinpoints Three-Year Strategy to Improve Industry

The UK Gambling Commission (UKGC) has set out its three-year collective strategy that is designed to improve oversight of the country’s ever-expanding gaming industry.

Formed in 2005 below the Gambling Act, the UKGC is responsible for the regulation of commercial play end-to-end Great Britain. The government agency to boot oversees the National Lottery.

In its publication released yesterday, the UKGC highlights the of import work on it intends to drive home over the next trio years. The ultimate goal is to remain flexile as the fast-changing industry continues to evolve, and also ensure that a competitive summons cognitive operation is completed for the next National Lottery license.

We understand that the play businesses we permit testament demand to adapt and respond to the demands of their consumers. But inwards evolving products and services, consumer shelter must be at the head of businesses’ minds and plans,” stated UKGC Chairman Dr. William Moyes.

“Given the innovative and fast-moving nature of the play industry, and our intention to assist the National Lottery tour from strength to strength, our regulatory approach shot cannot tie-up still,” Dr. Moyes added. “We demand to accommodate to unrecorded up to the international reputation we have got earned as an effectual regulator.”

Five-Step Plan

The UKGC plans to accomplish its missionary station past path of 5 “Strategic Objectives.” They are:

1. Protecting children and vulnerable people from existence harmed by gambling
2. A fairer marketplace and more informed consumers
3. Keeping law-breaking come out of gambling
4. Optimize returns to right causes from The National Lottery
5. Improving gambling regulation

The Florida key issues are similar to the UKGC’s foremost three-year strategy plan, which debuted inwards 2018. The 2021 blueprint, the UKGC explains, is designed to establish on the achievements and implement policies highly-developed over the past tense tercet years.

The Gambling Commission says the modish strategy architectural plan takes into calculate the ongoing review of the UK’s gaming industry being conducted by the Department of Digital, Culture, Media and Sports (DCMS). The Parliament bureau is considering the UKGC’s powers and resources needed to amend regulate the industry.

“We await the DCMS critique to conclude partway through and through the lifetime of this strategy, so we must counterbalance the want to make believe get along while remaining whippy to adapt to the outcomes of that review,” the Commission said.

Massive Industry

The UKGC oversees ace of the largest gaming industries inwards the world.

Prior to the pandemic, summate 144 gaming revenue (GGR) inwards Great Britain for the 12 months 'tween April 2019 to Mar 2020 totaled £14.2 billion, or rough $20 billion. By comparison, Nevada’s gambling casino manufacture reported 2019 GGR of $12 billion.

Online gaming in the UK continues to expand. The UKGC says online GGR was £5.7 one million million during the 12-month period, an growth of 8.1 percent.

The UKGC oversees to a greater extent than 10,000 brick-and-mortar betting locations and casinos. That number, however, continues to fall as COVID-19 keeps many richly street betting shops closed. The 2018 alter to the upper limit wager on fixed-odds betting terminals falling from £100 to just £2 also led to hundreds of shops closing.