The British regulator now requires gaming licensees to submit returns every quarter.
UK.- The British Gambling Commission’s new reporting requirements have come into force. As announced in May, the regulator requires all gaming licensees to submit quarterly reports as of July 1.
Licensees must make their returns within 28 days of the end of each quarter. Previous returns, including data up to June 30, must be submitted by July 28 or August 11 depending on the type of operating licence. The first quarterly reports under the new regime are for the period from July 1 to September 30 and must be submitted by October 28.
In August, the Gambling Commission will start a pilot of proposed enhanced financial risk checks for online gambling. A phased approach will see a £500 loss threshold apply from August 30 and a lower £150 threshold will be introduced from February 28, 2025 for “light-touch” passive checks that customers should not notice.
Meanwhile, the Gambling Commission is investigating insider betting on the date of the UK general election, which took place yesterday (July 4) and saw Labour’s Keir Starmer elected as the new UK prime minister.
The Times reported that the Gambling Commission has been presented with a dossier containing details of all bets on the date of the election placed by politicians that would have won more than £199.