UKGC Warns Gaming Operators Over Novelty Bets
The UK Gambling Commission (UKGC) has warned gambling operators over facilitating betting on novelty markets such as pre-recorded television programs, stating that these bets raise issues of integrity.
The regulatory commission was responding to claims from several media reports that operators that offer these services bring integrity issues to the front. These particularly include offering markets on pre-recorded television programs such as Great British Bake Off and Strictly Come Dancing, among other novelty markets.
Richard Watson, program director for enforcement and intelligence at the UKGC, sent an open letter to operators, saying that the reports “appear to have originated from the operators themselves who purport to have either over-exposed their liability or identified integrity concerns tenuously linked to the program or event.”
Watson explained that in a social media world where communication can be almost instantaneous, the outcomes of these markets can be spread to a growing group of people before formal results are released. As a result, offering novelty markets such as these can be damaging to producers and broadcasters of these shows, as well as for the perception of gambling by the public in the UK.
“We therefore require operators of these markets to demonstrate a robust management of the associated risks in order to ensure they uphold the licensing objectives.”
“As outlined in our statement of principles for licensing and regulation, amongst other things, we expect operating license holders, those occupying senior positions within licensed operators and Personal Management License holders responsible for marketing to conduct their business with integrity, organise and control their affairs responsibly and effectively and have adequate systems and controls to keep gambling fair and safe.”
The UKGC has warned that operators that do not comply with these requirements will have their licenses reviewed.
March 30, 2017