UK Government unveils online gambling reforms plan

After watching one of the world’s largest online poker rooms struggle to stay afloat after Black Friday, the UK government has decided to step in and add another layer of licensing regulations to the online gambling industry, which has up until now have operated without impunity in the UK.

Full Tilt Poker continued to operate in the UK after Black Friday despite not repaying its US customers –the site used stalling tactic after stalling tactic—until the Aldernay Gambling Control Commission (AGCC) decided to pull Full Tilt’s license in late June, thus locking up not only US funds but all player funds, including UK players.

In order to prevent a similar situation from occurring in the future, UK Culture Secretary Jeremy Hunt decided to implement a new, stricter, licensing system for offshore gaming sites.

Under the old regulations offshore eGaming companies were allowed to advertise and operate in the UK as long as they were licensed and regulated in another locale, but after the fiasco that has been Full Tilt Poker post-Black Friday, the UK government has decided to require all online gaming providers to be licensed by the UK Gambling Commission according to an article at egrmagazine.com.

The new measures will have to be introduced and passed by the UK government, which egrmagazine quotes James Hollins of Evolution Securities as saying, this could “push full implementation out to 2013 or 2014”.

Similar Posts:

• UK Internet Gambling To Undergo Reform
• UK Gambling Commission Works to Prevent a British Black Friday
• New Online Gambling Licensing Rules in UK
• PokerStars to Players: Your Funds are Safe
• AGCC shuts down Full Tilt Poker suspends license

Tags: Online, Uk Government   Posted in Gambling Professional