Regulators around the world are intensifying efforts to combat illegal gambling and prioritize customer protection. Tim Miller, Executive Director of the Gambling Commission of Great Britain, recently emphasized the importance of global cooperation between regulators in his speech at the Global Gaming Expo. The Commission is actively working to establish open working relationships with regulators around the world, aiming to reduce illegal gambling and create a safer environment for all gamblers.
In April, the British government published its Gambling Law Review, paving the way for tackling the industry’s challenges. The review made more than 60 recommendations and highlighted the need for collaboration with payment providers, internet search providers and developers. This collaborative approach was successful in addressing concerns such as financial risks, design, direct marketing, and age verification.
One of the key challenges identified is the lack of information about practices in other regulated markets. Regulators face the difficult task of navigating different jurisdictions and understanding the nuances of each market. Cooperation between regulators around the world is crucial to overcoming this hurdle.
The risk of increased illegal gambling is becoming a real concern as British and European operators look to expand into new markets. Miller emphasizes that reducing illegal activity can only be achieved through global cooperation and the creation of Memoranda of Understanding with regulators in North America and beyond.
The practice has long been a major problem in the industry. However, the Gambling Commission has taken a leading role in tackling illegal gambling, being responsible for 85% of sanctions worldwide. Through collaboration, the Commission has successfully reduced illegal gambling traffic in the British market by an impressive 46%.
During consultations carried out as part of the Gambling Law Review, customer protection emerged as a key focus. Regulators recognize the importance of providing a safe environment for players and are committed to making gambling crime-free and safer for all gamblers. By working together, regulators can develop strategies to identify and prevent fraudulent activity and ultimately protect the interests of consumers.
The review also sheds light on the evolving environment of the industry. North American jurisdictions are increasingly embracing online gambling and sports betting, presenting new opportunities and challenges. Collaboration between regulators in different regions becomes even more vital to ensure the integrity and fairness of these emerging markets.
Miller emphasizes that collaboration is not limited to regulators. It also includes forming partnerships with payment providers, internet search providers and developers. By working together, these stakeholders can create a robust ecosystem that supports responsible gambling practices and reduces the risk of illegal activity.