The United Kingdom Gambling Commission has unveiled updated guidance measures for the continued COVID-19 pandemic. These measures ensure the protection of punters across Great Britain, Ireland, Scotland, or Wales. UKGC Representatives expressed that more robust measures were required for the sportsbetting market. Evidence provided to the UK Gambling Commission indicated that consumers are more at risk throughout this period, with betting not proving to be a consistent form of revenue.
This prompted the UKGC to inform legalized operators that due diligence on the new measures is required, which extends towards affordability checks for each registered player. Operators like Bet365 will be forced to review the betting records of each punter, determining if they hold the required assets to gamble without losing vital funds. This will be accomplished by matching their betting records since April 2020 with the COVID-19 Civilian Relief Fund in the United Kingdom.
Those wagering similar valuations to the awarded finances, which are meant for essential purchases exclusively, could find themselves being blacklisted by their respective operator until the pandemic is over. It should be noted that accomplishing the affordability checks won’t be easy for operators. Not having access to their full financial records makes it nearly impossible to make an accurate assessment.
Details in the Assessment
The UKGC revealed that betting valuations in Great Britain, Ireland, Scotland, and Wales have decreased drastically throughout the pandemic. This primarily has infected online sportsbooks, who don’t have access to viable sporting programs. These bookmakers received their 1st live event on May 9th when Justin Gaethje battled Tony Ferguson for the Interim Lightweight Championship. Betting valuations with sportsbooks increased by an average of 88% in comparison to the previous day.
An immediate boost of this nature prompted the United Kingdom Gambling Commission into their decision. The 88% increase revealed that when sporting events begin without the attendance of supporters, these individuals will likely spend an influx of their necessary funds, hoping to double down of what was received. There’s always the chance that these individuals won’t succeed in their wagers, forcing them to have limited finances throughout that respective month. It’s for this reason that the UKGC implemented these guidance measures.