House of Lords Set to Scrutinise UK Gambling Commission over Gambling Industry

A select committee from the British House of Lords are set to question members of the UK Gambling Commission (UKGC) over “the social and economic impact” on the country. UKGC Chief Executive Neil McArthur and Chairman Bill Moyes are scheduled to appear before the committee to provide an insight on how the regulatory body govern the UK gambling sector.

The recently formed committee is part of the House of Lords year-long investigation headed by Lord Michael Grade (of Yarmouth), in an attempt to discover the “reliable facts” on the industry as a whole, to create a better oversight on what needs to be done.

Both the Chief Executive and Chairman will be questioned on their roles and the direct involvement between the regulatory body and gambling executives. The latter comes on the back of growing concerns as many MP’s raise their criticism against the UKGC over a potential conflict of interest.

Not only have MP’s been very vocal in their criticism, the All-Party Parliamentary Group (APPG) has been too, pointing to allow GVC Holdings, whose brands include Foxy Bingo, Gala Spins and Ladbrokes, to take the lead in the development code of conduct for industry player rewards….

…This is a “conflict of interest” according to APPG and as a result, they’re pushing lawmakers to do the right thing – don’t let gambling operators govern themselves. You wouldn’t let the fox guard the chicken coop, why should this be any different?

Is Enough Being Done?

Mobile and technology trends will also be put under the spotlight with the House of Lords scheduled to question consumer habits and the changing products offered by the gambling industry.

A major crack-down on the industry is taking effect; from the ban on credit cards in gambling to a blanket-ban on gambling advertisements. Last week, five major operators in the UK; Bet365, GVC Holdings, Sky Bet, William Hill and Flutter Plc, were hauled before the committee to provide testimony on what has become an indisputable collaboration between the industry and the regulatory bodies.

However, the committee found that there were many advantages of such a collaboration but wanted to ensure that consumers were protected at the end of the day.

Only last week, the head of the UK betting industry’s trade body, Bridgid Simmonds, said banks and technology companies are not doing enough to prevent gambling addiction, and called for tougher legislation to regulate the sector…

…Speaking to the Financial Time (FT), the chair of the recently formed Betting and Gaming Council said banks and big tech companies had “taken a while” to implement measures to help gambling addicts exclude themselves from gaming websites. “Just as we intervene with our customers so banks should as well,” Simmonds added.