Erik King estimates UK casinos can get heavily regulated in the near future
Betting and casino guides expert, Erik King is a huge name in this industry. King rules the industry with his prior experience of several casino guides. He is the editor in chief of Zamsino.com/uk. His expertise and knowledge have enabled him to successfully examine gambling conditions worldwide. Thus, he estimates that casinos in the UK are expected to get heavily regulated in the future. Here’s why King thinks that:
Brexit is a massive step for the UK and Europe overall. Separating from the EU might cause the UK to redefine its rules and regulations. The gambling companies in the UK are already heavily regulated, but Brexit might change the dynamics completely. Erik says that UK companies would need more regulations as separating from the EU removes all EU rules. Hence, UK based companies need regulations as players from EU-based states also play on UK-based websites. Also, a large number of companies based in the UK are merged with EU companies. Thus, redefinition or, more precisely, ‘addition’ of rules and regulations is essential for the UK after Brexit.
Crimes revolving around gambling
Gambling, be it online or not, has always faced a backlash due to the criminals involved in this industry. A significant number of casinos were owned by criminals a few years back. To overcome this, the UK made it necessary for the owners to get a license. Three types of licenses are available now, namely Operating License, Personal License, and Software License. All of these licenses are given after thorough checking. This shows that the UK already has the situation under consideration, but due to the current rise in euros, the crime rate is still significantly high. Thus, King says that a high crime rate would result in more rules and regulations in the future.
The worldwide web is a jungle of websites with millions of pages all over the world. The Internet is not regulated by any authority. This causes an increase in fraud all across the globe. Erik says that the government is looking for a way to regulate online casinos based in the UK. One plan is to identify the location of a website and maintain a database of registered websites. If a site is found in the database, then it is allowed to operate if it owns a license. Otherwise, the website would be shut down completely. Thus, Erik thinks a dedicated committee to manage and regulate online casinos is the need of the hour.
The usage of credit cards heavily puts the lives of gamblers in danger. According to UK Finance, 800,000 plus people gamble using credit cards. This leads to a significant amount of financial harm. Gamblers spend their lives in debt while banks take advantage of this opportunity. This financial damage is causing people to fail miserably in their lives and fall prey to depression. The Gambling Commission in the UK has banned gambling via credit cards. From 14th April 2020, gamblers would not be allowed to use credit cards to gamble. Erik uses this point to justify that more strict regulations are expected in the future. The ban on credit cards is proof that the Gambling Commission is actively working to prevent fraud and crimes in the UK.
In conclusion, the above points summarize and hint the changes expected in the future. The gambling future in the UK is bright but also tough to follow. Casinos, be it online or not, will be regulated heavily and might need time to adapt to the newly imposed rules. Other than that, these points give a gist of why additional regulations are expected. Thus, Erik suggests casino owners stay up to date and cooperate with the law agencies.
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