UK Gambling Commission enforce fairer cash withdrawal policies
September 6, 2018
The UK Gambling Commission is set to punish online casinos should they not provide fairer withdrawal policies regarding players’ funds.
Online gambling companies have been told they must remove unfair restrictions placed on player withdrawals for face action by the UKGC.
A number of operators have been under investigation after it was brought to the attention of the Competition and Markets Authority (CMA) that they were imposing unfair restrictions on players withdrawing funds from their accounts.
Progress Play and Jumpman Gaming are two operators who were found stating that players could not withdraw their funds all at once and withdrawals must be requested in instalments. The CMA stated that this “could lead some to gamble again where they might otherwise make a withdrawal“. Progress Play’s terms also stated that players may have their funds confiscated if they did not confirm their identity within a specific time frame.
Paul Hope, Executive Director at the Gambling Commission stated:
“We are committed to raising standards for consumers in the gambling sector to ensure they are getting a fair deal. We’ve already been working with the CMA to tackle unfair online gambling promotions, and today’s announcement will improve how customers are treated.”
“In July, we announced new rules, which will make it quicker and easier for the Commission to take action for breaches of consumer law. That includes taking action where firms breach the principles laid out by the CMA. We support the action taken by the CMA and expect all online gambling businesses to take immediate action to update their practices in line with these, or face action by the Commission in the future.”
The UK Gambling Commission has backed the actions of the CMA and has advised other gambling operators to remove any restrictions on withdrawing funds by 31st October 2018.
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