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UK Gambling Commission Demands Gambling Operators to Remove Unfair Withdrawal Restrictions
- September 3, 2018 By Oliver Young -
Unfair withdrawal restrictions have been an issue for online gamblers worldwide for years. However, UK players may not have to bother with them anymore as the UK Gambling Commission is dedicated to force gambling operators to remove such unfair restrictions entirely.
Namely, the Commission has warned gambling businesses to update their withdrawal policies in order to avoid getting massive fines. In the latest such warning, the UK gambling authority has addressed operators claiming unfair cash withdrawal restrictions could lead to a hefty penalty.
This warning comes days after the CMA has published its findings on an enforcement action against two gambling operators. As it turns out, the operators are now required to remove the mentioned unfair cash withdrawal restrictions, which made it impossible for consumers to cash out their funds in one go.
“Committed to Raising Standards for Consumers”
Commenting on behalf of the UKGC was its Executive Director Paul Hope. As he revealed, the Commission was committed to raising standards for consumers and ensuring they were getting a fair deal. He highlighted that the UKGC was closely working with the CMA in order to remove unfair online gambling promotions; the next issue seems to be improving the treatment UK consumers get.
Hope reminded that new rules were announced back in July; these rules would make it easier and quicker for the authority to take action in case of law breaches. These breaches include disrespecting principles introduced by the CMA. Therefore, he pointed out, that the UKGC was expecting all gambling operators to upgrade their practices so they meet the CMA’s guidelines. Otherwise, hefty fines would be issued to those refusing to do so.
Jumpman Gaming and Progress Play to Remove Unfair Cash Withdrawing Practices
In a latest press release, the Competition and Markets Authority (CMA) has revealed that two well-known names in the UK gambling industry would remove unfair cash withdrawal practices; those two are Jumpman Gaming and Progress Play.
Namely, the authority has been investigating the sector following complaints that lots of unfair policies are employed by the operator. More precisely, these policies aimed at preventing consumers to cash out their funds in a single withdrawal. In other words, customers of the two abovementioned operators were forced to cash out funds in instalments and meet withdrawing limits, which often could lead to gambling away those funds.
These policies would now be removed by the operator, while Progress Play has additionally agreed not to confiscate customer’s funds in case they don’t meet identity check rules. However, this only applies for not completing checks within a certain timeframe as identity checks are otherwise crucial when it comes to money-laundering prevention.
Moreover, the CMA’s Senior Director for Consumer Protection George Lustly has highlighted that even though Jumpman Gaming and Progress Play are the first to commit to change their cashout rules, the CMA was expecting other operators to follow. Also, he pointed out that consumers should be given the right to withdraw their funds whenever they want to.