The UK Gambling Commission Cracks Down on Unfair Withdrawal Rules
Following the conclusion of the CMA’s investigation, the UK Gambling Commission has ordered all online casinos operating in the UK to stop imposing unfair withdrawal restrictions on punters by October 31.
After receiving an overwhelming number of complaints from online punters, UK’s Competition and Market Authority (CMA) had launched an investigation in 2016 into the issue of unfair withdrawal limitations set by online casinos operating in the UK. Now, things are finally going to change. The CMA concluded that online players have been at a disadvantage and were treated unfairly. The result of the investigation was brought to the UK Gambling Commission and new rules have been set to solve the problem.
One of the withdrawal limitations that was looked into is that some casinos do not allow for withdrawals in a big lump sum. Instead, when a player hits a large win, they can only cash out the entire winning over a long period of time. This is certainly very frustrating for anyone who has won a million-dollar progressive jackpot but is forced to wait for a long time to receive his or her money.
Another issue which the CMA has received a staggering amount of complaints on is when players can’t even cash out on their winnings if they do not submit their proof of identity within a set time frame. This means that if a winner missed the deadline for sending the documents requested by the casino for whatever reason, they will lose their winning. Likewise, casino accounts that are deemed inactive could have all their credits, including their winnings, confiscated by the operator.
It’s no wonder that punters feel like they have been violated and treated unfairly, especially if they have won big fair and square just to lose it all for no good reason. The UK Gambling Commission agrees that this type of behaviour by some online casinos are wrongful and unjust. Players should be able to cash out on their winnings whenever and in whatever quantity they want. It’s the Commission’s responsibility to protect players’ rights and see that they are not taken advantage of by casino operators.
Following the conclusion of the CMA’s investigation, the UK Gambling Commission has ordered all online casinos operating in the UK to stop imposing unfair withdrawal restrictions on punters by October 31. If any online casinos are found to violate the new rule set by the Commission, they could face severe fines. So far, two online gaming companies have already agreed to these terms.
The UK Gambling Commission is one of the strictest and most well-respected gambling authority in the world. It has been raising standards and setting an example by leading in the global gambling industry. Therefore, it is likely that Canada will follow-suit and online casinos will not be able to unjustly take away punters’ winnings in the not-so-far future.