The Betting & Gaming Council, also known as BGC, celebrated its fifth anniversary by releasing a comprehensive Code Handbook. It is the first of its kind, with a core emphasis on 20 voluntary codes and 100 measures. The objective is to elevate the experience of customers who look to participate in the regulated iGaming industry. It focuses majorly on safe and responsible gambling – yet, goes beyond the existing requirements for them in every possible aspect.
Let’s take a dig at the launch of the comprehensive Code Handbook by BGC on its fifth anniversary.
Elevating Industry Standards: The Code of Handbook Explained
Measures announced by BGC are applicable to all the members. They go beyond the regulatory requirements that are set by the UK Gambling Commission. Simply put, proposals by BGC are additional, or on top of what exists, to strengthen the current architecture of the industry. Most of the codes have now been integrated into the Licence Conditions & Codes of Practice, also known as LCCP.
Their influence on online casinos in the UK is broader than one’s assumption. Merely the mention of safe gambling is a cold story, for it now encompasses specific actions like 20% ad allocation for safe gambling messages. This applies to TV, radio, and advertisements across the digital sphere. Also, there is a mention of banning whistle-to-whistle practice on television betting commercials during live sports events before 9 pm. Its impact is the reduction in exposure to children by almost 97%.
As for safe gambling ads, the pitch is to highlight the availability of tools like time out and deposit limits. Such tools prevent users from excessively engaging with the gambling platform plus breaching the safe level of depositing funds to the platform.
Industry standards are certain to elevate with the implementation of these practices because users are more likely to return if they feel safe on the platform. Excessive engagements come at the cost of losing the majority of the funds which eventually limit their future participation.
To reiterate, these are voluntary commitments from BGC members with an aim to elevate the standard of the industry.
Industry-Wide Impact and Future Outlook
BGC is working with the government and regulators on more than 50 initiatives. These include proposals like frictionless spending checks, expansion of bank transfer block projects, which would give players larger control over the amount they spend, and the creation of an industry ombudsman to have a better customer recourse. It covers every corner of the industry, including land-based operators, virtual operators, and high-street bookmakers.
All the UK sports betting websites will see it having a positive impact in terms of player protection and responsible gambling. Unregulated gambling has reportedly affected over 1.5 million Brits every year. This was highlighted by the BGC-commissioned study, underlining the scale to which the space requires a comprehensive code handbook or stringent regulations. They were reported to collectively stake approximately £4.3 billion with illegal operators.
Other measures covered include game design, money laundering, and customer management. The idea is to eliminate crime from the segment so that genuine customers can thrive on a better experience with confidence.
BGC’s codes also list those that were originally developed by the ABB Group and Senet Group.
The betting and gaming sector in the country supports almost 109,000 jobs with a contribution of £4 billion in taxes and economic revenue of £6.8 billion. Its impact is evident from the problem gambling rate of 0.4% of the adult population as per a report by NHS Health Survey.
