The Competition and Markets Authority (CMA) conducted an eight-month investigation into the practices of those licensed operators in the online gambling space and found the customers were not getting the deal they expected from sign-up promotions and operators were unfairly holding on to customers’ money.
It has promised to take action against operators who unfairly prevent customers from withdrawing money.
“We know online gambling is always going to be risky, but firms must also play fair,” said Nisha Arora, the CMA senior director for consumer enforcement. “People should get the deal they’re expecting if they sign up to a promotion, and be able to walk away with their money when they want to.”
“Sadly, we have heard this isn’t always the case. New customers are being enticed by tempting promotions only to find the dice are loaded against them. And players can find a whole host of hurdles in their way when they want to withdraw their money.”
Online casinos and sports books offer to sign up bonuses to lure customers, but customers often have to turn over a certain amount of money before they can access these bonuses.
The CMA regulates the £4.5bn sector and during it investigation took on board complaints from over 800 customers,
Should companies be found to have misled customers, they risk losing their licence.
“The gambling industry should be under no illusion that if they don’t comply with consumer law, we will see this as a breach of their operating licence, and take decisive action,” the Gambling Commission chief executive, Sarah Harrison, told The Guardian.
Meanwhile, across the Irish sea, Ireland is set to finally introduce legislation to deal with the modern gambling environment.
The Gambling Control Bill is expected to be introduced later this year, overwriting the current legislation which dates back to 1956. The new Bill will offer a streamlined licenses process for online casinos.
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