In the United Kingdom and the Gambling Commission regulator has announced the launch of new rules that have been designed to prohibit iGaming operators from offering irresponsible VIP customer schemes.
The organization used an official press release to pronounce that the revised guidance is part of a campaign ‘to strengthen consumer protection’ and was formulated in consultation following the emergence of ‘repeated instances’ where operators had demonstrably failed ‘to protect high-value customers.’
The Gambling Commission declared that its fresh code of conduct is due to come into force from the final day of October and will apply to any schemes that see locally-licensed iGaming operators attempt to ‘maintain or increase their custom’ by offering aficionados ‘tailored bonuses, gifts, hospitality and preferential service.’
The authority stated that the provisions of its latest direction are to require online gambling firms to hold up-to-date evidence concerning the identities, source of funds and occupations of their VIP players and continually assess whether anyone in this pool is exhibiting signs of ‘gambling-related harm’ or heightened vulnerability. The body proclaimed that the fresh specifications will also mandate that such operators regularly verify any information with which they are supplied by high-value individuals and habitually conduct ‘gambling harm checks’ in order ‘to spot any signs of harm.’
Finally, the Gambling Commission detailed that the revised rules are to furthermore oblige licensed iGaming operators to appoint a senior executive holding a personal management licence who is to be tasked with overseeing their respective firm’s responsible gambling practices when it comes to VIP players.
Neil McArthur, Chief Executive for the Gambling Commission, used the press release to assert that the regulator’s new VIP-facing rules are part of a ‘comprehensive program of tougher enforcement and compliance activity’ that has already involved the banning of credit card play alongside the introduction of improved regulations regarding ‘online age and identification verification’ as well as ‘improved customer interaction practices.’
Read a statement from McArthur…
“We have introduced these new rules to stamp out malpractice in the management of VIP customers and to make gambling safer. Our enforcement work has identified too many cases of misconduct in the management of VIP schemes and this is the last chance for operators to show they can operate such schemes appropriately. Operators can be in no doubt about our expectations. If significant improvements are not made, we will have no choice but to take further action and ban such schemes.”