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UK Gambling Commission defends financial risk checks stance

The UK Gambling Commission (UKGC) has taken a stand to counter what it calls “unwarranted criticism” and “daily attacks” from the Racing Post. Andrew Rhodes, the chief executive of UKGC, wrote an open letter in which he sought to allay concerns about the suggested financial risk checks in the ongoing UK gambling consultation. The Commission expressed disappointment that the Racing Post had declined to publish their response, deeming the newspaper’s coverage “imbalanced.”

Rhodes clarified that only 3% of gamblers would undergo financial risk assessments, with just 0.3% of account holders being asked to provide additional financial information. He emphasized that these checks are solely for online gambling and will not affect traditional bookmakers or racetrack betting.

The Commission highlighted that 90% of assessments would be conducted through credit reference agencies and open-source banking, assuring that gambling companies wouldn’t have access to a customer’s full bank account details. They also debunked the misconception that these checks would harm credit scores, stating that they are soft credit checks that won’t impact ratings.

In response, Racing Post’s editor, Tom Kerr, defended the newspaper’s stance and its refusal to publish the UKGC’s letter. The disagreement centers on the extent of financial checks required and their impact on gamblers.

As the debate rages on, it remains to be seen how these proposed risk checks will shape the future of UK gambling regulations and their implications for both the industry and consumers. The UK” title=”UK Top Betting Sites” >UK Gambling Commission continues to encourage participation in the ongoing consultation to strike the right balance between gambling freedom and protection against gambling-related harm.

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