Gamblers in the UK will start to see more transparency in bonuses and promotions offered by betting firms at their online gambling sites. following an agreement between major gambling companies and the Competition and Markets Authority (CMA).
Ladbrokes, William Hill, and PT Entertainment (operator of Titanbet) have agreed to change some of their online bonus offers after a CMA investigation that found that operators were offering what they felt were unfair promotions, even if they didn’t strictly violate the law.
No Admission of Guilt
The CMA stressed that none of the bookmakers involved were required to make any admissions of legal wrongdoing. However, the watchdog has now released clear guidance on what they expect from online gambling promotions so that both operators and gamblers know what to expect from these deals.
Under the new guidelines, any rules related to clearing bonus funds must be made explicitly clear to players. In addition, players will not be required to play through their stake multiple times before they are allowed to withdraw their own funds. Gamblers also cannot be required to take part in publicity or promotional efforts in order to collect winnings they’ve earned.
According to the CMA, these were some of the most common issues faced by players looking to withdraw funds after taking a promotional offer. According to the UK Gambling Commission, these changes should be “promptly” implemented across the entire industry.
“Gambling firms must treat their customers fairly and not attach unreasonable terms and conditions to their promotions and offers,” said Sarah Gardner, executive director of the Gambling Commission.
Bookmakers Accept Changes
The bookmakers who reached the agreement with the CMA appeared to be understanding of the group’s concerns, and pledged to do better in the future.
“As one of the largest online betting and gaming brands in the UK, William Hill has worked with the CMA to ensure that its concerns have been fully met,” the company said in a statement. “We welcome the standards and principles that the CMA has outlined and we look forward to their adoption across the industry.”
Meanwhile, a statement by Ladbrokes Coral acknowledged that they had “unintentionally gone too far” with some of their promotions.
“It is never comfortable being in the spotlight on these sorts of issues but we are pleased that a way forward has now been identified and are committed to ensuring we meet the standards set,” the statement read.
The CMA warned that operators could face penalties from the Gambling Commission should they fail to follow the new guidelines. For the watchdog, the important point was that bookmakers give players a fair shake.
“Gambling always carries a risk, but players should never face unfair restrictions that prevent them from getting at their money,” said CMA Project Director George Lusty.
The crackdown comes at a time when bookmakers in the UK are fighting regulatory battles on several fronts. The most prominent is an upcoming reduction of the betting limits on fixed-odds betting terminals. Reports suggest that minsters are planning to implement a £2 ($2.83) limit, though no final decision has yet been announced.