Starting from August 2024, the UK will introduce financial checks for players surpassing certain spending limits, with additional measures coming into effect in February 2025. The Gambling Commission has released details following the initial consultation phase on forthcoming regulations outlined in a white paper.
Under the new rules, players exceeding £500 in monthly spending will undergo financial scrutiny, while those surpassing £150 will be subject to checks starting February 2025. These checks will involve examining publicly available financial data, including bankruptcy records and histories of unpaid debts.
Andrew Rhodes, the chief executive of the regulator, emphasized the importance of evidence-based rules that consider input from consumers and stakeholders. A six-month pilot phase will test data-sharing mechanisms, including open banking, to facilitate seamless checks. However, concerns remain about the feasibility of such checks given current technological limitations.
