UKGC has unfair cash out terms on the radar

The United Kingdom Gambling Commission has got withdrawal practices at online gambling businesses in the crosshairs.

The UKGC circulated a memo to gambling businesses yesterday that they must remove unfair restrictions on players withdrawals or face the prospect of them taking action.

This comes following the Competition and Markets Authority (CMA) announcing the outcome of its latest investigation into unfair terms and practices in the online gambling sector.

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The CMA has published enforcement action against two gambling firms, which have now committed to make changes that ensure customers are not unfairly prevented from withdrawing their money. All gambling firms are now required to adhere to the standards set out by the CMA.

Practices surrounding gambling withdrawals that have come under criticism include putting a daily, weekly or monthly cap on how much you can cash out and charging exorbitant processing fees.

Executive Director of the UKGC Paul Hope said he was fully committed to making sure players under their umbrella remained safe when gambling online.

“We are committed to raising standards for consumers in the gambling sector to ensure they are getting a fair deal,” he said.

“We’ve already been working with the CMA to tackle unfair online gambling promotions, and today’s announcement will improve how customers are treated.

“In July, we announced new rules (1), which will make it quicker and easier for the Commission to take action for breaches of consumer law.

“That includes taking action where firms breach the principles laid out by the CMA. We support the action taken by the CMA and expect all online gambling businesses to take immediate action to update their practices in line with these, or face action by the Commission in the future.”

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