UKGC warns firms to pay customers before leaving UK market
Commission reminds operators of responsibilities to consumers following recent departures form the UK market
The UK Gambling Commission (UKGC) has warned operators to have plans in place and take steps to ensure consumers are not unnecessarily disadvantaged if they choose to leave the UK market.
It follows high profile exits from the UK market by several operators including Every Matrix and ComeOn following BetBright and 188bet last year.
The UKGC said it expects licence holders preparing to leave the UK market to conduct their business with integrity and maintain adequate financial resources to deal with any potential exit.
The UKGC said its advice applies to those holding personal management licences, even if the business involved becomes insolvent.
Operators are requested to be aware of their liabilities and have resources in place to cover them in the event of insolvency.
Operators are expected to warn consumers placing long-term bets of the lack of security of these funds in the event of insolvency and provide information about existing protections in place.
The regulator has said it will consider a licensee’s conduct in any potential future licence application to re-enter the UK market should this arise.
EveryMatrix chose to exit the UK market following the UKGC’s decision to freeze its B2C licence
Gambling firms closing to UK players are expected to illustrate they are “in control of the situation” by updating consumers with information and potential routes for redress, utilising all available means to do so. Operators are also expected to discharge their liabilities to players whenever possible.
The UKGC has also advised players to ensure they are familiar with an operator’s terms and conditions upon registration and check the level of protection the business operates on player deposits.
In addition to warning players to check operator t&c’s, the UKGC has reaffirmed its position that it will not arbitrate any disputes between a current or former licensee and its players.
However, under current rules operators are required to appoint an alternative dispute resolution (ADR) provider, allowing players to ascertain if the ADR can settle the dispute.
In the event the ADR is unable to do so, the UKGC has said players retain the right to launch civil action against any defaulting operator.