The UK Gambling Commission has a strong reputation for being fair and resolving disputes, often siding with players in their favor. This is why casinos with a UKGC licence are so popular in the gambling world, as you can totally feel safe with them.
They are always striving to regulate the market as fairly as possible to avoid gambling issues and further problems for casinos, but especially for punters. Trying out the experience for yourself on a BetBrain expertly analysed casino is crucial, since opinions about the affordability checks are divided. Some might find the regulations very useful, while others argue that they are too strict and detrimental to the industry.
What are affordability checks?
Initially, punters who have deposited a total of £500 per month would have been required to undergo an affordability check, but the threshold has gone down to £150. The operator will need to conduct checks with the credit reference agencies and assess the player’s financial status.
How affordability checks work:
● At first, players will undergo soft checks that they are unaware of, where casinos review publicly available information, including missed credit payments, bankruptcies, and unpaid debts.
● Initially, the casino will request documents such as payslips, bank statements, or even tax records to assess if the player can afford their spending habits.
● A further check may need to occur, which is why some casinos will ask for a source of funds or a source of wealth.
What happens after the checks:
● Provide a notification to the player that encourages them to add a deposit limit to their account.
● Automatically limiting how much they can deposit or bet, in more severe cases.
UKGC regulations
It’s essential to note that prior to this, casinos with a UKGC licence had already implemented measures to protect gamblers. For instance, when registering, you encountered an option to add a deposit limit to your account. This is a good safety option in order to avoid troubled gambling, and you should use it to your advantage all the time.
Even if some players are becoming aware of their addictions, casinos must add this kind of option right in the registration form. It’s better to be safe than fall into unexpected gambling issues and lose a lot of funds.
Another requirement that some UKGC-licensed casinos implement is asking the new punters to select their source of funds. Regularly, you will have the option to state where you receive your salary from and whether you have a stable income.
The main concerns
A study conducted by GamCare shows that 76% of people who accessed the customer support option on platforms said that due to their gambling habits, they have fallen into financial difficulties.
Affordability checks will be conducted to ensure that players don’t lose too much money. For instance, casinos must check those who lose £1,000 within 24 hours to assess the result. Note that the amounts will be lower for gamblers aged 18 to 25.
However, this threshold has also been heavily debated, especially by GamCare, which believes a stricter amount should be added.
Players resorting to offshore casinos
The main concern is that players might create multiple accounts, and thus the operates might overlook their spending habits. It’s important to note that, at most UKGC platforms, you will be able to add a self-exclusion to your account and other sister sites automatically. However, the GamCare concerns still stand, as the platform cannot control players’ spending on multiple other casinos.
Moreover, it’s also possible that, because strict checks will be available, players may lean towards other platforms with offshore licences that don’t have proper regulations. There may be some privacy concerns regarding these checks, but the UK Gambling Commission argues that punters must undergo account verifications anyway, which often include card verifications, source of funds verifications, and other aspects that involve personal details. Moreover, if the player doesn’t send certain documents, they might not be able to gamble anyway.
Industry profit loss
Another concern is that for the industry, huge restrictions mean that casinos will lose a big percentage of their profits. Existing customers might reduce their spending amounts if they need to go through checks, and this might happen to new punters as well. For instance, they might not want to go through the registration process, knowing that they will eventually have to undergo financial checks.
Key takeaways
Affordability checks are a crucial part of responsible gambling, enabling casinos to maintain control over player deposits and losses. In most cases, a strict regulation cannot be perfectly maintained, but restrictions can help gamblers avoid addictions and financial risks.
