UK Gambling Commission Introduces Deposit Limits for New Players

The UK Gambling Commission has announced new regulations, including mandatory deposit limits for first-time depositors. These changes will come into effect by October 2024.

Mandatory Deposit Limits for New Players

From 31 October 2024, all licensed gambling operators will be required to ask new customers to set a financial limit before making their first deposit. While some operators already implement such limits, this regulation ensures uniform standards across all UK-licensed gambling platforms.

Players will have the ability to modify their deposit limits after setting them, and operators will be required to remind customers to review their deposit limits and transaction history every six months.

“These rules adopt best industry practices and ensure all customers receive the same standard across the market,” stated the Gambling Commission.

Additional Changes and New Levy for Gambling Operators

In November 2023, a statutory levy was introduced, requiring gambling operators to contribute between 0.1% and 1.1% of their Gross Gambling Yield (GGY). The rate varies depending on the gambling sector and the operator’s risk profile.

As part of this change, the Gambling Commission will remove the previous requirement for operators to fund research and treatment organisations. The new levy will replace this system when it comes into force, expected from 6 April 2024.

Increased Transparency on Player Fund Protection

To enhance consumer protection, licensed operators will be required to clearly inform players about how their funds are managed in the event of insolvency.

From 31 October 2024, operators that do not protect player funds will be required to notify customers every six months that their money is not safeguarded. The Gambling Commission emphasised that, while operators are not legally obligated to protect funds in case of bankruptcy, many choose to do so voluntarily.

Strengthened Consumer Protections

Tim Miller, Executive Director for Research and Policy at the Gambling Commission, highlighted that the new measures aim to create a more transparent and fair gambling industry: “These changes will give consumers better opportunities to set deposit limits, track their spending, and understand how their funds are managed in the event of insolvency. We continue to work on implementing the remaining measures from our action plan.”