Feedback UK Gamblers - New Checks if Spending 3k in a 90-day Rolling Period!

[dunover]

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Gamblers who spend more than £1,000 online in a 24-hour window will have to undergo a financial risk assessment, the industry regulator has announced.

The Gambling Commission said this would also apply to anyone spending over £3,000 in a rolling 90-day period. Under-25s will have lower thresholds.

The assessments will be based on data held by credit reference agencies, but the commission has insisted they are not "affordability checks".

Gambling companies said they were unhappy with the changes, which they said will push customers toward the black market.

The commission has not set a timeline for the changes saying they will be introduced in a "very careful, staged way".

It said there was evidence some high-spending customers were experiencing financial difficulties but not being identified or supported by bookies.

The checks will start with over-25s who gamble more than £5,000 in a rolling 24-hour period. Initially, they will only apply to the largest gambling companies .

The watchdog said the first stage will affect less than 0.5% of customers and will be rolled out this summer, following engagement with the industry and other stakeholders.

The threshold will eventually be lowered to £1,000 in 24 hours, or £750 for under-25s.

Oh goodeee!

 

[Mr Shine]

So, 40 BJ bets at £25, ignoring splits and doubles. Win half lose half, break even, BAM Hammertime?

Or does spend mean a net loss?

 

[lukey141]

They just don't stop tightening the noose do they?

I hope that spend means lose not wager.

If they're going to start flagging anyone who wagers £1000 in 24 hours it's going to be miserable. Especially if it triggers every time you do so? What if you're winning not losing on the session/day/week/month etc.

Wish they'd just leave us be.

 

[Jono777]

July 7th not April 1st lol

 

[mcgameboy]

July 7th not April 1st lol

I see the Belgian football manager has hacked Jono's account.....

 

[andysbetting1187]

It just makes an already difficult to navigate market even harder. Will be interesting to see if this is a soft or hard credit check, but I can see more people moving towards offshore gambling.

Good job theres a load to choose from with a high rating - joking aside hopefully this will help be the catalyst to sort out the review scores

£3k over a 90 day period is not actually that much if a player is constantly withdrawing and then re-depositing (recycling funds)

 

[mcgameboy]

It just makes an already difficult to navigate market even harder. Will be interesting to see if this is a soft or hard credit check, but I can see more people moving towards offshore gambling.

Good job theres a load to choose from with a high rating - joking aside hopefully this will help be the catalyst to sort out the review scores

£3k over a 90 day period is not actually that much if a player is constantly withdrawing and then re-depositing (recycling funds)

Well there's the big question.

Will the calculation be based on "spend" (counting total deposits only) or "net spend" (total deposits minus total withdrawals)?

Because the potential difference between those two can be wildly different.

Just going by my spend last month, I deposited a total of £3,250.
But my total withdrawals were £3,325, so I finished the month in profit.

So in the eyes of the UKGC, have I....

1. exceeded my 90 day spending cap before I even got to the end of the first thirty days (which means I am effectively banned from gambling for two full months) OR
2. spent "less than zero", in which case I can carry on regardless?

 

[satchnz]

This won’t impact me in the slightest but I assume this is per casino?

Also, it has to be based on total loss and not wagering etc surely? Oh wait, this is the UKGC…

 

[andysbetting1187]

This won’t impact me in the slightest but I assume this is per casino?

Also, it has to be based on total loss and not wagering etc surely? Oh wait, this is the UKGC…

Knowing the UKGC, it will be based on what they think you might deposit.

They will work this out by looking at your regular deposit amount, multiplying this by 10 (to be on the safe side) and then double it just to be extra careful. All to protect us.

 

[lukey141]

I really hope it is wager just because of how stupid it will be when a casino is forced to check on players who are winning after wagering £1000.

Even though he's up £500 time to fire up the mandatory financial risk assessment! Can we be sure he can afford to win money? Let's check his credit history just to be sure.

Yet another thing that will push people to unregulated.

Eventually there won't be a player left on actual UK websites.

 

[dunover]

Common sense would decree it's a rolling loss limit, but we are talking the UKGC....

 

[SYPlayer95]

Common sense would decree it's a rolling loss limit, but we are talking the UKGC....

It has to be otherwise it just wouldn't work. Imagine trying to wager a bonus lol

 

[itsme123]

How are they going to police it in bookies shops, or can anyone go in and lose as much as they have every day?

 

[Downsman]

Jeez..hope my 20 quid a month depo doesn't get the red flags flying!

 

[andysbetting1187]

It has to be otherwise it just wouldn't work. Imagine trying to wager a bonus lol

It just wouldnt work either way for me. My blackjack bets alone are usually £1k a box so I will be getting hammered with credit checks so will just swerve it altogether and stick to bricks and mortar

 

[SYPlayer95]

How are they going to police it in bookies shops, or can anyone go in and lose as much as they have every day?

Bookies do what they want. Ive never been asked to provide anything.

 

[andysbetting1187]

Ive never been asked to provide, but I have been limited multiple times on the amount I'm allowed to put on a bet.

To the point where i now bet with a private bookie its 100 times easier

Bookies do what they want. Ive never been asked to provide anything.

 

[SYPlayer95]

Ive never been asked to provide, but I have been limited multiple times on the amount I'm allowed to put on a bet.

To the point where i now bet with a private bookie its 100 times easier

I was told once that shop staff in BetFred were paid a commision based on profits.

Probably some truth in this as look at the fines they've had.

 

[philderby]

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Gamblers who spend more than £1,000 online in a 24-hour window will have to undergo a financial risk assessment, the industry regulator has announced.

The Gambling Commission said this would also apply to anyone spending over £3,000 in a rolling 90-day period. Under-25s will have lower thresholds.

The assessments will be based on data held by credit reference agencies, but the commission has insisted they are not "affordability checks".

Gambling companies said they were unhappy with the changes, which they said will push customers toward the black market.

The commission has not set a timeline for the changes saying they will be introduced in a "very careful, staged way".

It said there was evidence some high-spending customers were experiencing financial difficulties but not being identified or supported by bookies.

The checks will start with over-25s who gamble more than £5,000 in a rolling 24-hour period. Initially, they will only apply to the largest gambling companies .

The watchdog said the first stage will affect less than 0.5% of customers and will be rolled out this summer, following engagement with the industry and other stakeholders.

The threshold will eventually be lowered to £1,000 in 24 hours, or £750 for under-25s.

Oh goodeee!

Well that's you fkd then!

 

[Lemon]

It can't be £1000 turnover surely? That's just completely daft. Hmm - this is the UKGC we're talking about...

 

[teckiwi]

Spending to me reads as deposits(not losses) so it could be a mess despite cashouts etc.

 

[Webzcas]

Do you know what? If this is implemented sensibly, I actually think this is a good course of action by the UKGC.

Yes, there will be cries of 'Nanny State' but step back and be objective for one second. Think of the lives that have been ruined by an addict spending what access to money they have, especially in the early hours. Not just their own lives, but of their family and friends.

This new check on spending could save a lot of heartache.

 

[teckiwi]

^^Are similar restraints in place to stop people buying books of scratchcards?